Back to Proposals
Proposal #31
Increase KSM Collateral Ceiling to 60.000 KSM - public proposal #31
4mos ago
Tabled

Summary

I propose that we increase the KSM collateral ceiling for vaults from 15.000 KSM to 60.000 KSM

Proposal

Since vaults have already locked up most of the current 15k KSM collateral, we should proceed to increase the ceiling for KSM to 60.000. This will allow vaults to increase their collateral and be able to accept more kBTC to be minted. I believe this is also beneficial to the Kintsugi ecosystem!

Request for fast track:

Also, I request that the proposal be fast tracked in order to avoid the existing ceiling being reached and limiting vaults from adding more collateral. Ideally the fast track would allow for the ceiling to be raised before end of next week.

Why do we need to raise the collateral ceilings?
The ceilings limit how much BTC a vault can host/store. We started on purpose with a low overall ceiling when launching Kintsugi to have time to fix any issues that might come up. However, it is not feasible for scaling the system and allowing users to issue kBTC to keep the ceilings so low.

Edited
Reply
Up 4
Share
Second
No current seconds
This proposal has been turned into referendum.
Metadata
hash
0x64cbcd141954a1efc2a66ea192ad54355b291bf8d9aeeec6a6bb77594be7a250
deposit
0 vKINT
proposer
Call
Table
Json
callIndex0x1408
sectionvaultRegistry
methodsetSystemCollateralCeiling
args
currencyPair
collateral
tokenKSM
wrapped
tokenKBTC
ceiling60000000000000000
TimelineLatest activity 4mos ago
2022-04-29 13:39:42
Proposed
Index
#31
2022-04-29 23:11:24
Tabled
Referenda Index
#29
Deposit
5 vKINT
2022-04-29 23:11:24
Started
referendumIndex
29
voteThreshold
SuperMajorityAgainst
2022-05-12 13:03:24
Passed
referendumIndex
29
Comments
4mos ago

Current blocktimes mean this is going to end in a over a week's time, however vaults are already unable add collateral to get to safe ratios.

Can we fast track this proposal?

Reply
Up 3
4mos ago

I second timbotronic's appeal for fast tracking this proposal.

Reply
Up 3