Hey folks, how does the Global Mintable alUSD work? Right now, it's showing that 7,239 alUSD are left to mint, is that right? Why the idea behind this?
It's a risk management tool.
If we minted more alUSD than the Curve pool could handle we'd lose the peg and we wouldn't be able to redeem alUSD for USDC/DIA etc.
https://forum.alchemix.fi/public/d/78-proposal-to-increase-debt-ceiling/3
They're discussing raising it.