The MakerDAO community has passed a set of emergency proposals for modifying parameters that were proposed yesterday. These changes are slated to be implemented within the next 48 hours, specifically at 16:14 UTC on March 13th.

The proposal aims to adjust risk and governance parameters associated with USDC-related assets, and to reduce the debt ceilings of USDC-related LPs (including UNIV2USDCETH-A, UNIV2DAIUSDC-A, GUNIV3DAIUSDC1-A, and GUNIV3DAIUSDC2-A) to zero when used as collateral. The proposal also includes changes to certain parameters in PSM-USDC-A, PSM-GUSD-A, and other anchoring stability modules in order to reduce protocol risks.