[Temp Check] Increase MKR cap of borrowing

Governance
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Summary

This is a proposal to expand the current cap of borrowing against an isolated collateral (MKR) from $6.0 million to $10.0 million.

Motivation

I currently have $7.7 million MKR on deposit with AAVE… and would like to expand how much I have borrowed against the position. Unfortunately, the current cap of $6.0 million has been hit – and I am unable to take any further loans against the position.

Specification

This proposal will achieve the following:

  • Expand the cap from $6.0 million to $10.0 million.

Disclaimer

I am the largest MKR depositor with AAVE.

Next Steps

I am a rookie to AAVE governance. I’ve made my best efforts in this proposal – but AAVE will need to take it from here in terms of what has to happen to execute upon this.

Copyright

No claims to copyright with this post.

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Thanks for this post @Leritu, as we’ve mentioned in the post here, we are analyzing the potential for increasing the debt ceiling for MKR and will update the community shortly.

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