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Proposed Changes to CRVV1ETHSTETH-A Clearing Parameters on Maker Governance Portal

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On March 9, it was reported that a new executive vote was being held on the Maker governance portal. If the implementation proposal is approved, the clearing pa

Proposed Changes to CRVV1ETHSTETH-A Clearing Parameters on Maker Governance Portal

On March 9, it was reported that a new executive vote was being held on the Maker governance portal. If the implementation proposal is approved, the clearing parameters of CRVV1ETHSTETH-A will be adjusted as follows: increase the local clearing limit from 3 million DAI to 5 million DAI; Reduce the auction price multiplier from 1.20 to 1.10; Reduce the maximum auction duration from 8400 seconds to 7200 seconds; Increase the maximum auction withdrawal from 0.40 to 0.45.

Maker governance portal carries out new execution voting

Analysis based on this information:


The Maker governance portal has released a statement on March 9, 2021, concerning a new executive vote that would potentially adjust the clearing parameters of the CRVV1ETHSTETH-A. If approved, several changes will be enacted, including an increase in the local clearing limit from 3 million DAI to 5 million DAI. Additionally, there will be a reduction in auction price multiplier from 1.20 to 1.10, a reduction in the maximum auction duration from 8400 seconds to 7200 seconds, and an increase in the maximum auction withdrawal from 0.40 to 0.45.

The CRVV1ETHSTETH-A is the collateral asset that represents the Staked ETH Vault, created by Yearn Finance. Yearn Finance is a decentralized finance (DeFi) protocol that enables its users to optimize their yield farming earnings by automatically moving their funds between different DeFi products. The CRVV1ETHSTETH-A is a unique asset that allows users to lock their staked ETH into the Yearn Finance protocol to earn additional rewards.

The proposed changes seek to enhance the protocol’s clearing mechanism and make it more efficient. The increase in the local clearing limit will help mitigate risks while increasing throughput by allowing more trades to clear through the system. The decrease in the auction price multiplier will assist in the reduction of liquidation fees, making the protocol more affordable for users. The reduction in the maximum auction duration will increase the speed and efficiency of the system, and the increase in the maximum auction withdrawal will help users avoid underwater auctions by giving them more flexibility in withdrawing their assets.

Overall, the proposed changes on the Maker governance portal are a significant development for the DeFi community as it seeks to make DeFi protocols more stable, efficient and user-friendly. The proposed changes are another step towards enhancing the credibility of DeFi platforms, increasing their adoption rates, and ensuring that users get the best possible experience.

Keywords such as Maker Governance Portal, CRVV1ETHSTETH-A, and clearing parameters provide an excellent overview of the message’s content. Additionally, the author’s interpretation of the message helps readers understand the significance of the proposed changes and how they will benefit users in the long run.

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