This proposal will set the DOT Vault Collateral Ceiling On Interlay to 150000 DOT.
As we prepare the launch of IBTC and vaults will start adding collateral, we want to avoid situations encountered when launching Kintsugi where vaults were slowed down at the start due to a low starting collateral ceiling.
Since the vaults have already been battle tested on Kintsugi with the equivalent relay chain token KSM, we have more confidence in the stability and sturdiness of the system and therefore more comfortable with starting off with a higher ceiling.
We therefore want to already set a sufficiently high initial ceiling of 150000 DOT and revise increasing it further at a later date when we see that the ceiling is close to being reached.
Requesting TC Fast-track
Since this is an initial ceiling setting and we want to get everything ready for the launch, we request TC fast track to move quickly with setting initial system settings.
Note: Unfortunately the proposal used the wrong call hash and so did not execute. We submitted a follow-up fast-track proposal to execute this proposal here - https://interlay.subsquare.io/democracy/proposal/7