MakerDAO Announces Offline Executive Voting for USDC-A, USDP-A and GUSD-A Vault Types

03/03/2023 14:55 • NFT Newsflash • 127 views

According to reports, MakerDAO tweeted that it would launch the offline USDC-A, USDP-A and GUSD-A executive voting on March 8, 2023. At that time, the execution voting will deploy the following parameters to the above vault types: the maximum debt ceiling is 0, the liquidation penalty is 0%, the FlatKick award is 0, and the liquidation ratio is 1500%. This parameter will be deployed in the execution vote launched on March 8. After that, all positions of USDC-A, USDP-A and GUSD-A with a mortgage rate lower than 1500% will be cleared. If liquidation is to be avoided, it is necessary to pay off the DAI debt in full and close USDC-A, USDP-A or GUSD-Availts before the end of voting. MakerDAO reminded that USDC-A, USDP-A and GUSD-A are standard vault types with mortgage debt position models, and should not be mistaken for PSM.

The MakerDAO community will launch the offline USDC-A, USDP-A and GUSD-A executive voting on March 8

Interpret the above information:

MakerDAO has reportedly announced that it will launch an offline executive voting for USDC-A, USDP-A and GUSD-A vault types on March 8, 2023. This executive voting will deploy specific parameters to the above types of vaults, including a maximum debt ceiling of 0, a liquidation penalty of 0%, a FlatKick award of 0, and a liquidation ratio of 1500%. MakerDAO further clarified that all positions of these vault types with mortgage rates below 1500% will be cleared after the deployment of these parameters.

The announcement also emphasized that if users want to avoid liquidation, they must pay off all DAI debt and close their USDC-A, USDP-A or GUSD-A vaults before the end of voting. The USDC-A, USDP-A and GUSD-A types of vaults are regarded as standard vault types with mortgage debt position models, and should not be confused with PSM.

This announcement could be interpreted as MakerDAO’s attempt to regulate its users’ positions in the USDC-A, USDP-A and GUSD-A vault types. By deploying the mentioned parameters, the protocol aims to prevent potential risks associated with holding positions with low mortgage rates. This move could prevent sudden liquidations that might cause users to lose their ERC-20 tokens deposited as collateral.

In conclusion, MakerDAO has announced an upcoming deployment of specific parameters to USDC-A, USDP-A and GUSD-A vault types. This move aims to regulate user positions and prevent liquidations. Therefore, users must act on the announcement by closing their vaults before the end of voting if they want to avoid potential risks. The deployment also clarifies that USDC-A, USDP-A and GUSD-A are not the same as PSM, and users should not confuse these vault types.

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