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MakerDAO Has a New Proposal to Increase Compound D3M Debt Ceiling

In a new proposal, the Open Market Committee of leading decentralized finance platform (DeFi) MakerDAO has sought community approval to increase the maximum debt ceiling on its Compound DAI Direct Deposit Module (Compound V2 D3M) by 300% and to set the Target Available Debt on the same vault to 5 million DAI. 

According to its Operational Manual, MakerDAO’s DAI Direct Deposit Module (D3M) is a tool that enables the creation and deposit of DAI into other lending protocols on the Ethereum blockchain in exchange for a deposit/collateral token from those protocols.

It allows MakerDAO to distribute newly minted DAI through other lending protocols while maintaining a full backing of DAI.

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