The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents polls to implement Domain Team onboarding, Collateral Onboarding, and more.

Inclusion Poll for Domain Team Onboarding - Risk (MIP7c3-SP3)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (MIP7c3-SP3 - Domain Team Onboarding (Risk)) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the governance call on September 10, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Thursday Governance and Risk call on September 17, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Poll: Reduce USDC-A and PAX-A Liquidation Ratio

The Governance Facilitators have placed a Governance Poll into the voting system which presents a number of possible Liquidation Ratio options for the USDC-A and PAX-A Vault types. Voters are now able to signal their support for a USDC-A and PAX-A Liquidation Ratio within a range of 105% to 101%.

Note that this poll is a result of both a recent signal request and emergency action.

This weekly Governance Poll (FAQ) will be active for three days beginning on Monday, September 14 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, September 18 at 16:00 UTC.

Review

The signal request for reducing the USDC-A Liquidation Ratio can be found here along with the results.

For additional context, please see the following emergency signal request and the subsequent expedited executive vote.

Please review the discussion on the linked threads to inform your position before voting.

Next Steps

If the expedited executive vote posted on Monday, September 14 passes, then the options of 105% and 104% will not lead to any further action regardless of this poll's outcome because this could result in unbacked DAI.

Given the above caveat, on the Friday following the conclusion of the poll, there will be an Executive Vote asking MKR token holders if they support or reject the change proposed by this Governance Poll.

If the Friday executive passes, then this rate change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Inclusion Poll for LRC Collateral Onboarding (MIP12c2-SP4)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (MIP12c2-SP4 - LRC Collateral Onboarding) should be included in the Monthly Governance Poll.

Note that this proposal is being proposed for the second time, having failed the first time at the inclusion stage in the August governance cycle.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the governance call on September 10, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Thursday Governance and Risk call on September 17, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Inclusion Poll for COMP Collateral Onboarding (MIP12c2-SP5)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (MIP12c2-SP5 - COMP Collateral Onboarding) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the governance call on September 10, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Thursday Governance and Risk call on September 17, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Poll: Quantitative Easing aka Manual PSM

The Maker Governance Facilitator has placed a Governance Poll into the voting system on behalf of the Maker Governance Community. The community can use this poll to express support or opposition to a community implementation of Quantitative Easing (aka Manual PSM).

This non-standard weekly Governance Poll (FAQ) will be active for three days beginning on Monday, September 14 at 16:00 UTC.

Review

The signal request for Quantitative Easing can be found here along with the results. Please review the discussion there to inform your position before voting.

Next Steps

If this poll ends with a 'Yes' majority, the community will have MKR Token Holders support for providing an implementation.

If this poll ends with a 'No' majority, implementation of Quantitative Easing will not be pursued.

Inclusion Poll for Domain Team Onboarding - Smart Contracts (MIP7c3-SP4)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (MIP7c3-SP4 - Domain Team Onboarding (Smart Contracts)) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the governance call on September 10, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Thursday Governance and Risk call on September 17, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Poll: Base Rate Adjustment

The Governance Facilitators have placed a governance poll into the voting system which presents several possible Base Rate options. Voters are now able to signal their support for a Base Rate within a range of -6% to 2%.

Stability Fees are calculated from the Base Rate and Risk Premiums using the formula Stability Fee = max(Base Rate + Risk Premium, 0%). Please note that a negative Base Rate does NOT imply negative Stability Fees.

Details on how the Base Rate parameter was introduced, and its impact on the Stability Fee parameters for each collateral asset can be found in the following threads on the MakerDAO forum.

This weekly Governance Poll (FAQ) will be active for three days beginning on Monday, September 14, at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, September 18, at 16:00 UTC.

Review

The Base Rate is usually not discussed explicitly on a weekly basis as this poll is a regular occurrence. Please review the governance forum to see if there has been any discussion on the vote this week to inform your position before voting.

Next Steps

If the winning result of this poll differs from the current Base Rate parameter value in the Maker Protocol then this change will be included in the Executive Vote on the Friday following the conclusion of this poll.

If the Friday executive passes, then this rate change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Inclusion Poll for Dark Spell Mechanism (MIP15)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (MIP15 - Dark Spell Mechanism) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the governance call on September 10, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Thursday Governance and Risk call on September 17, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Inclusion Poll for Declaration of Intent - Dai Flash Mint Module (MIP13c3-SP2)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (MIP13c3-SP2 - Declaration of Intent - Dai Flash Mint Module) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the governance call on September 10, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Thursday Governance and Risk call on September 17, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Metamask 0xcf...8d1a

Connected wallet: 1.0010 MKR

Inclusion Poll for LINK Collateral Onboarding (MIP12c2-SP6)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (MIP12c2-SP6 - LINK Collateral Onboarding) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the governance call on September 10, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Thursday Governance and Risk call on September 17, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Poll: Approve New TUSD Implementation with Original Risk Parameters

The Maker Foundation Smart Contracts Team has placed a Governance Poll into the voting system to approve/disapprove the new TUSD implementation. Voters are now able to signal their support to:

Approve the new TUSD implementation with the following risk parameters:

• TUSD-A Ceiling (Vat[TUSD-A].line) 2,000,000 DAI
• Min DAI in TUSD-A Vault (Vat[TUSD-A].dust) 100 DAI
• TUSD-A liquidation lot size (Cat[TUSD-A].dunk) 50,000
• TUSD-A liquidation penalty (Cat[TUSD-A].chop) 13.00%
• TUSD-A stability fee (Jug[TUSD-A].duty) 0.00%
• TUSD-A auction min. bid increase (Flip[TUSD-A].beg) 3.00%
• TUSD-A auction bid duration (Flip[TUSD-A].ttl) 6 hrs
• TUSD-A auction duration (Flip[TUSD-A].tau) 3 days
• TUSD-A col. ratio (Spot[TUSD-A].mat) 120%

These parameters match the original risk parameters with the exception of the dust parameter, which has been updated to 100 DAI. Also worth noting is that a Risk Premium was never determined, instead Stability Fee was directly set to 0%.

Please note that liquidations for TUSD will be disabled.

This Governance Poll (FAQ) will be active for three days beginning on Monday, September 14 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, September 18, at 16:00 UTC.

Review

The initial proposal for approving the new TUSD implementation can be found here along with the poll results.

Next Steps

If this poll ends with a 'Yes' majority, this change will be included in the Executive Vote on Friday, September 18.

If this poll ends with a 'No' majority, the TUSD collateral type will remain in its current state.

Vault Compensation Plan Approval Poll

The MakerDAO Governance Facilitator has placed a Governance Poll into the voting system on behalf of the community, which the community can use to signal support for compensating vaults affected by liquidations during the March 12 market crash. This poll will run for two weeks, from Tuesday, September 8 at 16:00 UTC to Tuesday, September 22 at 16:00 UTC.

Note: This poll was pushed back a day after the initial version failed. See details here.

Review

The Vault Compensation Plan was discussed in the Forums and presented on the August 13 Maker Governance and Risk Call. Voters are encouraged to review the plan document and discussion to inform their position before voting.

This poll uses ranked choice voting. Details about ranked choice voting can be found here. The community is encouraged to select multiple options in their order of preference, while withholding their vote for any options they consider unacceptable.

Claim amounts will be calculated based upon the compensation percentage decided in this poll, using the “tab change in relation to collateral change” calculation method described in the plan document, paid out in MKR tokens at a rate of 1 MKR per 250 DAI. Individual vault compensation will be determined by the formulae below:

MKR compensation amount = (collateral deficit percent * collateral value in DAI) / 250 collateral deficit percent = compensation percentage (determined by this poll) - percent of vault collateral already received from liquidation collateral value in DAI = debt tab at time of liquidation * liquidation ratio

The MKR amounts shown for each percentage represent the sum of calculated compensation for ETH vaults, multiplied by 1.5. The additional 50% buffer is intended to cover claims from BAT vaults as well as from vaults that self-liquidated their position. It is considered highly unlikely that 100% of eligible vaults will claim compensation, so any residual unclaimed MKR can be retrieved and disposed of by MKR governance once the compensation process has been completed.

In addition to the MKR required for paying compensation claims, each poll option except for “0% (oppose vault compensation)” or “Oppose current compensation plan (support vault compensation)” also authorize 50,000 DAI to be released to the compensation working group to cover operating expenses such as working group labor and smart contract development. Any unused DAI funds will be returned to the Maker surplus account upon project completion.

Next Steps

If this poll resolves with a majority of votes in favor of 3% through 24.67% compensation, the compensation working group will proceed with development and voting steps outlined in phase 2 of the vault compensation plan.

If this poll resolves with a majority of votes in favor of “0% (oppose vault compensation)”, this matter will be considered closed by governance and no further action will be taken regarding vault compensation.

If this poll resolves with a majority of votes in favor of “Oppose current compensation plan (support vault compensation)”, or if this poll resolves with no option receiving at least 50% support, this will be considered a vote of no confidence in the current vault compensation working group. While working group members will remain available for consultation, other members of the community will be empowered to take leadership over the vault compensation process.

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Resources

If you are new to voting in the Maker Protocol, please see the voter onboarding guide to learn how to use this dashboard and set up your wallet to vote.

Additional information about the Governance process can be found in the Governance Risk Framework: Governing MakerDAO.

To participate in future Governance calls, please join us every Thursday at 16:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.