The MakerDAO community launched an emergency PSM change proposal that seeks to introduce a debt ceiling breaking mechanism for collateral assets used to mint DAI to prevent the protocol’s stablecoin from being adversely affected by market turmoil. The emergency vote, if passed, would enable the DAO’s governance to set the debt ceiling to zero for any collateral type. Seven representatives from MakerDAO voted in favor of the emergency agreement, casting more than 45,000 votes in the process. At the time of writing, the proposal still needs 18,607 votes to pass.