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GearboxGearboxby0x031Dc29B7Ee499B402737F9d958F8A3057D5a2AAapeir99n.eth

[GIP-69] Reduce min debt size for Credit Managers

Voting ended over 2 years agoSucceeded

Motivation:

Another side effect related to CRV price drop is connected with ca owners, which now has very strict limits like degenNFT & minimal debt (150K USDC atm). As long term consequences, it could reduce Credit Account (later - CA) usage.

Suggestion:

To democratise process of CA opening, the protocol could change these parameters:

  1. reduce maxEnableTokens to 3 (from 8), which limits potential liquidation costs maxEnableTokens here is amount of token that are considered as collaterals in Credit Account. The higher value - higher potential liquidation costs.

  2. reduce minDebt to Credit Managers:

  • 25 eth for WETH CM (same for WETH CM for Curve v2 tokens),
  • 50k DAI for DAI CM,
  • 50k USDC for USDC CM,
  • 1.65 WBTC for WBTC CM,

Voting

Simple Approve / Reject

Off-Chain Vote

Approve
194.87M GEAR93.8%
Reject
12.94M GEAR6.2%
Quorum:104%
Download mobile app to vote

Discussion

Gearbox[GIP-69] Reduce min debt size for Credit Managers

Timeline

Aug 10, 2023Proposal created
Aug 10, 2023Proposal vote started
Aug 13, 2023Proposal vote ended
Feb 18, 2026Proposal updated