On July 2nd, Phoenix Labs launched a new proposal to increase weETH capacity at the MakerDAO Governance Forum and has opened on-chain voting on the Maker Governance Portal for three days. The proposal notes that there has been strong demand for weETH since mid-June, with deposits reaching millions of dollars in the first few weeks of integration with SparkLend. As a result of this demand, Phoenix Labs has proposed changes to the weETH collateral parameters on the Ethereum mainnet to enhance the user experience and improve the ability to borrow DAI at scale. The proposed changes are as follows: -WeETH supply cap: increased from 50,000 weETH to 200,000 weETH. -WeETH Isolation Mode Debt Ceiling: Increased from 50 million DAI to 200 million DAI.