PIP 98: Interest rate increases on all JPEG vaults and reduce all debt ceilings to zero.

##Abstract: Interest rates will increase in all vaults, and all debt ceilings reduced to zero.

##Background: As of December 18, 2024, PIP-96 - “Wind down pUSD/pETH lending operations and uncustody treasury,” has passed with 99.57% “For” votes. Therefore, JPEG'd DAO will proceed to uncustody treasury assets and wind down lending operations.

In order to wind down lending operation, the DAO recommends that any depositor withdraw their asset(s) and pay back any outstanding debt before interest rates increase.

##Specification: As of December 28th, 2024, interest rates in all JPEG Vaults will increase to 100%. Following this, interest rates will continue to increase until vaults are clear of all assets.

Additionally, debt ceilings for all vaults will be reduced to zero in order to prohibit any new borrows.