Governance Poll: Greenlights, Parameter Adjustments, and more

March 15, 2021

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Risk Domain Team. The community can vote in this poll to express support or opposition to these polls on the voting portal.

Poll: Community Greenlight Polls

Description

The Governance Facilitators have placed a governance poll into the voting system as part of their responsibilities as defined in MIP9: Community Greenlight. This Governance Poll will be active for fourteen days beginning on Monday, March 15 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should abstain.

Review

This poll asks whether the following assets should be prioritized for inclusion in the Maker Protocol by the domain teams:
SNX (Synthetix)
sUSD (Synthetix USD)
aAAVE (Aave AAVE)
aWETH (Aave wETH)
SolarX (Uprets/SolarX REIT)
xSUSHI (Sushibar)
SB-BFDC (SolidBlock BeachFront Digital Coin)
CurveLP-cDAI-cUSDC (Curve cDAI-cUSDC Liquidity Token)
CurveLP-renBTC-WBTC (Curve renBTC-WBTC Liquidity Token)

Please review the collateral onboarding application thread to inform your position before voting.

Outcomes

Regardless of the winning option the following actions will be taken at the conclusion of this poll:

  • The 'greenlight score' will be calculated for the asset using the formula Score = 'Yes' Votes - 'No' Votes
  • The 'greenlight score' for the asset will be added to the Collateral Prioritisation Sheet by the Governance Facilitator(s).
  • The Domain Teams will use the Collateral Prioritisation Sheet to direct their work on onboarding new collateral types.

Poll: Increase the ETH-A Maximum Debt Ceiling

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Governance Community. This Governance Poll will be active for three days beginning on Monday, March 15 at 16:00 UTC.

This is an instant-runoff vote. In an instant-runoff vote, you may rank any number of options in the order of preference. As a general rule, you should rank every option you would be willing to vote for if it was included in an executive vote. By failing to rank an option you signal that you are not willing to vote for it in an executive vote. Alternatively, if you would accept any of the listed options and have no preference as to which, you should vote 'Abstain' as your first choice and rank no other choices.

Review

MKR Token Holders may vote in this poll to keep or adjust the ETH-A Maximum Debt Ceiling:

  • 2.5 billion DAI (no change)
  • 10 billion DAI (+7.5B)
  • 15 billion DAI (+12.5B)

Please review the discussion thread to inform your position on this issue before voting.

Outcomes

If a non-'Abstain' option receives more votes than each other option (excluding 'Abstain') and the support for that option exceeds 50% of the total votes cast (excluding 'Abstain' votes) then the following actions will be taken:

  • If the winning option represents a change from the status quo, then the winning change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then this parameter change will become active in the Maker Protocol after the GSM Pause Delay has expired.

Otherwise, no further actions will be taken at this time.

Poll: Increase the WBTC-A Maximum Debt Ceiling

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Governance Community. This Governance Poll will be active for three days beginning on Monday, March 15 at 16:00 UTC.

This is an instant-runoff vote. In an instant-runoff vote, you may rank any number of options in the order of preference. As a general rule, you should rank every option you would be willing to vote for if it was included in an executive vote. By failing to rank an option you signal that you are not willing to vote for it in an executive vote. Alternatively, if you would accept any of the listed options and have no preference as to which, you should vote 'Abstain' as your first choice and rank no other choices.

Review

MKR Token Holders may vote in this poll to keep or adjust the WBTC-A Maximum Debt Ceiling:

  • 350 million DAI (no change)
  • 500 million DAI (+150 MM)
  • 750 million DAI (+400 MM)

Please review the discussion thread to inform your position on this issue before voting.

Outcomes

If a non-'Abstain' option receives more votes than each other option (excluding 'Abstain') and the support for that option exceeds 50% of the total votes cast (excluding 'Abstain' votes) then the following actions will be taken:

  • If the winning option represents a change from the status quo, then the winning change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then this parameter change will become active in the Maker Protocol after the GSM Pause Delay has expired.

Otherwise, no further actions will be taken at this time.

Poll: Increase the Dust Parameter for ETH-B Vault Type

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO community. This Governance Poll will be active for three days beginning on March 15, 2021 at 16:00 UTC.

This is an instant-runoff vote. In an instant-runoff vote, you may rank any number of options in the order of preference. As a general rule, you should rank every option you would be willing to vote for if it was included in an executive vote. By failing to rank an option you signal that you are not willing to vote for it in an executive vote. Alternatively, if you would accept any of the listed options and have no preference as to which, you should vote 'Abstain' as your first choice and rank no other choices.

Review

The community can vote in this poll to rank their support of the following options for modifying the Debt Floor (also known as Dust) parameter for the ETH-B vault type:

  • Leave the Dust Parameter unchanged at 2,000 DAI.
  • Increase the Dust Parameter from 2,000 DAI to 10,000.
  • Increase the Dust Parameter from 2,000 DAI to 15,000.

Please review the discussion thread to help inform your position before voting.

Outcomes

If a non-'Abstain' option receives more votes than each other option (excluding 'Abstain') and the votes for that option exceed 50% of the total votes cast then that option is deemed the winner and the following actions will be taken:

  • If the winning option represents a change from the status quo, then the winning change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then this change will become active in the Maker Protocol after the GSM Pause Delay has expired.

If no option has enough votes to exceed 50% of the total votes cast, then no further actions will be taken at this time.

Poll: Increase the Dust Parameter for Most Vault Types

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO community. This Governance Poll will be active for three days beginning on March 15, 2021 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should vote 'Abstain'.

Review

The community can vote in this poll to express support or opposition to modifying the Debt Floor (also known as Dust) Parameter for most vault-types:

  • Increase the Dust Parameter from 2,000 DAI to 5,000 DAI for most vault-types.
  • PSM-USDC-A and ETH-B vault-types will be excluded from this change.

Please review the discussion thread to help inform your position before voting.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • This change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then this change will become active in the Maker Protocol after the GSM Pause Delay has expired.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

Monthly MIPs Governance Poll

The Governance Facilitators have placed the MIP3: Monthly Governance Poll into the voting system. This Governance Poll will be active for three days beginning on Monday, March 15 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should abstain.

Review

This poll asks whether the bundled contents of this month's Governance Cycle should proceed to an Executive Vote to be held on March 22, 2021. The bundled contents of this poll consist of:

Core Unit Framework and Amendments Set

Real-World Finance Core Unit Onboarding Set

Risk Core Unit Onboarding Set

Governance Core Unit Onboarding Set

The Keg Module Set

Technical Proposals

General Proposals

The proposals can be reviewed in this week's MIPs update here. It was also discussed on the latest Governance and Risk call on March 11, 2021.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • This MIPs bundle will proceed to the final ratification vote (Executive Vote) in the last week of the monthly Governance Cycle provided the Governance Facilitator(s) confirm a 'yes' outcome of the Monthly Governance Poll on the next Governance and Risk call on March 18, 2021.
  • The Executive Vote will be submitted on March 22, 2021 assuming a positive outcome is confirmed by the Governance Facilitator(s).

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

  • Proposals may be resubmitted to the governance cycle up to three times if they are voted down.

Poll: Optimism DAI Bridge

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Smart Contracts domain team. This Governance Poll will be active for three days beginning on Monday, March 15 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should vote 'Abstain'.

Review

Optimism is expected to launch later this month. Due to the expedited time frame, the community does not have time to run through a full signal request process. This poll is to gauge interest in deploying the Optimism DAI Bridge alongside the launch of Optimism. This will not include the Fast Withdrawals component which is planned for release later this year and will be put through a separate governance process.

Initially the Optimism DAI Bridge will be owned by a multi-sig wallet on behalf of Maker Governance. The members and details of this multi-sig will be shared publicly when it is setup.

Please review the proposal thread to help inform your position before voting.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following action will be taken:

  • The Optimism DAI Bridge will be developed to be deployed alongside the launch of Optimism.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

Resources

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

Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.

To participate in future Governance calls, please join us every Thursday at 17:00 UTC.

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

March 15, 2021

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