[AIP-1] Raise the alUSD debt ceiling from 50m to 100m: Page 2

[AIP-1] Raise the alUSD debt ceiling from 50m to 100m

GEBucky

Agree with the team. No reason to raise the cap now, and frankly changing it 12 hours after going live seems a bit “floppy”. The cap was put in place for good reasons

mbaril010

I do think that we should remove the cap. I agree that we should wait to get the stablecoin pool but we should not wait too much since the stablecoin should be coming really soon. Having dai not getting yield is bad but creating a stablecoins pool with low liquidity will create a lot of volatility on the alusd price and could be really bad for the credibility of the project.

If we think that the yearn vault will take time to update the cap, we could also look to split the dai into a different protocol.

Also, I'm not in crypto to be in a closed elitism group 😉 Decentralized should be available for everyone but I understanding the technicality.

At the end of the day, I think we should make a snapshot page and vote 😃

chillsauce1

Leave the cap for now. Have no idea about tech, but should create more positive hype around the product. Marketing wise should be easier to build around that as well.

seanmc-eth

I agree with the team, the risk seems to far outweigh the possible upsides (upsides which, as OP noted, will happen eventually, so it isn't like now is our only time we'll be able to act). And it seems to me the upsides don't seem to really be that urgent to begin with-the protocol is humming right along and a possible temporary premium on alUSD seems to be much better than running the risk of making the entire protocol stagnant. So I plan to vote to keep the cap!

MathiAllinArgy

Agreed with the team, AMM + yEarn increasing the cap is the best move for sure.

MZeller

There's no need for rush.

yearn is known to act fast, cap will be raised and ppl will be able to deposit soon.

As an alternative solution, DAI can be contributed to Curve Aave Pool, Yield is ₈.5% atm + CRV and DAI is deposited into Aave thus protected by the Aave safety module.

Loop

Just like cooking a brisket. LOW AND SLOW. gives you the best brisket. Take your time and develop this project for the long haul and develope it right

trig

Waiting seems prudent

irc

Looks like the yearn team has already raised the limit to 300m. We should update the top post when scoopy gets a chance.

Either way, I am still leaning towards waiting for the AMM pool to be live as well.

GEBucky

I agree. It should be both conditions, not just yearn's side. There were both good reasons, and it's just prudent to stick to the plan. I really think flipping it on the second day sets a bad precedent, especially when a component of this is safety related. People can argue all day as to whether it was, or wasn't the right number. It was the one chosen and should be adhered to. I would love to put more funds in, but will happily wait for a few days.

Blakells

I think to keep the cap is safest.

hjqcan

Agree

ballsohard

I am against it. at least wait until we have a alUSD/dai pool before we change anything about the debt CAP

IDKFAIRL

I would wait before raising the ceiling.

Safety and auditing first priority, please don't put anymore capital at risk!
Have an alUSD/DAI pool deployed before the debt cap

ToanPham

I am against it. Raise with Dai will reduce the interest rate. Better is to mint alUSD with USDC.

KGB

Agree with the team's conservative approach. We are still in early days, no need to dramatically increase risk or volatility.

DaveNguyen88

good points, I agree.

aphoticjezter

alUSD/DAI pool first, then cap. Should be a real 1-2 punch

Rekken

Wait for yearn cap increase, that’s the entire point of the protocol

Stinky

Looks like yearn approved it, how long until we can mint more alUSD?

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