Hi all, a little late here but I think its important to share my thoughts.
In complete agreement with @mason here:
OHM is historically a very stable asset due to its design (far more so than majors such as ETH and BTC), and will only become more stable as cooler loans approach. There is currently $31.4m of OHM liquidity, and a further $3m of gOHM liquidity across all chains. This is significant, enough to absorb liquidations of all positions on FiRM if necessary. On top of this, there is RBS with capacity of over $13m which will absorb any selling that causes gOHM price to drop.
Given the impending launch of cooler loans, which will grant ~2880 DAI loans per gOHM, if there is indeed a situation where bad debt is accrued on the gOHM market due to insufficient liquidity, the DAO would have the option of seizing the collateral and utilizing Cooler Loans rather than on-chain liquidity to liquidate. This is of course assuming a successful launch of Cooler Loans.
Given this, I do not see changing the terms for all current gOHM borrowers (the CF% reduction) is appropriate. This proposal (changing CF to 70%) would liquidate 2 users currently borrowing on the gOHM market, and the next proposed reduction (to 65%) would liquidate a third, if do not manage their loan in the interim. A scenario we should look to avoid unless absolutely necessary.
On top of this, I believe that FiRM can safely take on new loans against the gOHM collateral. There is still a lot of demand, at least between now and the launch of cooler loans since the next most popular platform for borrowing against gOHM, FraxLend, recently had an interest rate spike after a large withdrawal of FRAX. I see no reason to stop OHMies from refinancing on FiRM up to the DAO approved supply ceiling of the gOHM market of 5m.