Governance Polls: Ratifications
August 9, 2021
Governance Polls: Onboarding Real-World Assets, Parameter Changes, and more
June 7, 2021
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Oracle Domain Team.
Add CF-DROP as a new RWA Vault Type
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This Governance Poll will be active for three days beginning on Monday, June 7 at 16:00 UTC.
This is a binary vote.
- You may vote for a single option.
- You should vote for the option which you prefer.
- If you would accept either option, you should vote 'Abstain'.
Review
This poll allows the MakerDAO governance community to signal their support or opposition to adding CF-DROP (ConsolFreight DROP Token) as a new vault type in the Maker Protocol with the parameters below:
Collateral Parameters
- Stability Fee: 6%
- Debt Ceiling: 2 million DAI
- Minimum Vault Collateralization Ratio: 105%
- Minimum SPV Collateralization Ratio: 109%
- Minimum Underlying Collateralization Ratio: 114%
- Liquidation Process: MIP22
Please review the following forum threads containing information about CF-DROP (ConsolFreight DROP Token) to inform your position before voting.
- Initial Collateral Application
- Real-World Finance Core Unit Risk Evaluation
- Protocol Engineering Core Unit Evaluation
- Oracles Team Evaluation
Outcomes
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- CF-DROP (ConsolFreight DROP Token) will be onboarded in a future executive vote as the Protocol Engineering Core Unit's schedule allows.
- It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.
- If the executive vote passes, then these changes 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.
Add P1-DROP as a new RWA Vault Type
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This Governance Poll will be active for three days beginning on Monday, June 7 at 16:00 UTC.
This is a binary vote.
- You may vote for a single option.
- You should vote for the option which you prefer.
- If you would accept either option, you should vote 'Abstain'.
Review
This poll allows the MakerDAO governance community to signal their support or opposition to adding P1-DROP (Peoples Company Series 1 DROP Token) as a new vault type in the Maker Protocol with the parameters below:
Collateral Parameters
- Stability Fee: 2%
- Debt Ceiling: 20 million DAI*
- Minimum Vault Collateralization Ratio: 100%
- Minimum SPV Collateralization Ratio: 142%
- Minimum Underlying Collateralization Ratio: 142%
- Liquidation Process: MIP22
Please review the following forum threads containing information about P1-DROP (Peoples Company Series 1 DROP Token) to inform your position before voting.
- Initial Collateral Application
- Real-World Finance Core Unit Risk Evaluation
- Protocol Engineering Core Unit Evaluation
- Oracles Team Evaluation
*Initial debt ceiling will be zero DAI. A future executive will be submitted to raise the debt ceiling to 20 million DAI after the creation of a suitable legal entity with an independent director or at the determination of the RWF Core Unit Facilitator.
Outcomes
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- P1-DROP (Peoples Company Series 1 DROP Token) will be onboarded in a future executive vote as the Protocol Engineering Core Unit's schedule allows, with a Debt Ceiling of 0 DAI.
- It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.
- If the executive vote passes, then these changes will become active in the Maker Protocol after the GSM Pause Delay has expired.
- A second future executive vote will raise the Debt Ceiling to 20 million DAI.
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.
Add HTC-DROP as a new RWA Vault Type
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This Governance Poll will be active for three days beginning on Monday, June 7 at 16:00 UTC.
This is a binary vote.
- You may vote for a single option.
- You should vote for the option which you prefer.
- If you would accept either option, you should vote 'Abstain'.
Review
This poll allows the MakerDAO governance community to signal their support or opposition to adding HTC-DROP (Harbor Trade Credit DROP Token) as a new vault type in the Maker Protocol with the parameters below:
Collateral Parameters
- Stability Fee: 7%
- Debt Ceiling: 7 million DAI*
- Minimum Vault Collateralization Ratio: 110%
- Minimum SPV Collateralization Ratio: 104%
- Minimum Underlying Collateralization Ratio: 114%
- Liquidation Process: MIP22
Please review the following forum threads containing information about HTC-DROP (Harbor Trade Credit DROP Token) to inform your position before voting.
- Initial Collateral Application
- Real-World Finance Core Unit Risk Evaluation
- Protocol Engineering Core Unit Evaluation
- Oracles Team Evaluation
*Initial debt ceiling will be 5 million DAI. A future executive will be submitted to raise the debt ceiling to 7 million DAI after the addition of an independent director to the SPV or at the determination of the RWF Core Unit Facilitator.
Outcomes
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- HTC-DROP (Harbor Trade Credit DROP Token) will be onboarded in a future executive vote as the Protocol Engineering Core Unit's schedule allows, with a Debt Ceiling of 5 million DAI.
- It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.
- If the executive vote passes, then these changes will become active in the Maker Protocol after the GSM Pause Delay has expired.
- A second future executive vote will increase the Debt Ceiling to 7 million DAI.
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.
Add FFT1-DROP as a new RWA Vault Type
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This Governance Poll will be active for three days beginning on Monday, June 7 at 16:00 UTC.
This is a binary vote.
- You may vote for a single option.
- You should vote for the option which you prefer.
- If you would accept either option, you should vote 'Abstain'.
Review
This poll allows the MakerDAO governance community to signal their support or opposition to adding FFT1-DROP (Fortunafi DROP Token) as a new vault type in the Maker Protocol with the parameters below:
Collateral Parameters
- Stability Fee: 4.5%
- Debt Ceiling: 15 million DAI*
- Minimum Vault Collateralization Ratio: 105%
- Minimum SPV Collateralization Ratio: 111%
- Minimum Underlying Collateralization Ratio: 116.6%
- Liquidation Process: MIP22
Please review the following forum threads containing information about FFT1-DROP (Fortunafi DROP Token) to inform your position before voting.
- Initial Collateral Application
- Real-World Finance Core Unit Risk Evaluation
- Protocol Engineering Core Unit Evaluation
- Oracles Team Evaluation
*Initial debt ceiling will be 5 million DAI. A future executive will be submitted to raise the debt ceiling to 15 million DAI after the addition of an independent director to the SPV or at the determination of the RWF Core Unit Facilitator.
Outcomes
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- FFT1-DROP (Fortunafi DROP Token) will be onboarded in a future executive vote as the Protocol Engineering Core Unit's schedule allows, with a Debt Ceiling of 5 million DAI.
- It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.
- If the executive vote passes, then these changes will become active in the Maker Protocol after the GSM Pause Delay has expired.
- A second future executive vote will increase the Debt Ceiling to 15 million DAI.
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.
Parameter Changes Proposal - MakerDAO Open Market Committee
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Open Market Committee. This Governance Poll will be active for three days beginning on Monday, June 7 at 16:00 UTC.
This is a binary vote.
- You may vote for a single option.
- You should vote for the option which you prefer.
- If you would accept either option, you should vote 'Abstain'.
Review
MKR Token Holders may vote in this poll to express support or opposition to the following parameter changes.
Parameter Changes by Type
Stability Fee Decreases
| Vault Type | Old | New | Change |
|---|---|---|---|
| ETH-A | 5.50% | 3.50% | -2.00% |
| ETH-B | 10.00% | 9.00% | -1.00% |
| ETH-C | 3.00% | 1.00% | -2.00% |
| WBTC-A | 4.50% | 3.50% | -1.00% |
| LINK-A | 5.00% | 4.00% | -1.00% |
| YFI-A | 5.50% | 4.00% | -1.50% |
| UNI-A | 3.00% | 2.00% | -1.00% |
| AAVE-A | 3.00% | 2.00% | -1.00% |
| BAT-A | 5.00% | 4.00% | -1.00% |
| RENBTC-A | 5.00% | 4.00% | -1.00% |
| UNIV2DAIETH-A | 3.50% | 2.50% | -1.00% |
| UNIV2USDCETH-A | 4.50% | 3.50% | -1.00% |
| UNIV2WBTCETH-A | 4.50% | 3.50% | -1.00% |
| UNIV2UNIETH-A | 5.00% | 4.00% | -1.00% |
| UNIV2ETHUSDT-A | 5.00% | 4.00% | -1.00% |
| UNIV2LINKETH-A | 4.00% | 3.00% | -1.00% |
| UNIV2AAVEETH-A | 4.00% | 3.00% | -1.00% |
| UNIV2DAIUSDT-A | 3.00% | 2.00% | -1.00% |
Debt Ceiling Increases
| Vault Type | Old | New | Change |
|---|---|---|---|
| ETH-B | 50,000,000 | 300,000,000 | 250,000,000 |
| YFI-A | 90,000,000 | 130,000,000 | 40,000,000 |
Debt Ceiling Decreases
| Vault Type | Old | New | Change |
|---|---|---|---|
| ZRX-A | 10,000,000 | 3,000,000 | -7,000,000 |
| LRC-A | 5,000,000 | 3,000,000 | -2,000,000 |
| COMP-A | 30,000,000 | 20,000,000 | -10,000,000 |
Target Available Debt (gap) Increases
| Vault Type | Old | New | Change |
|---|---|---|---|
| ETH-A | 80,000,000 | 100,000,000 | 20,000,000 |
| ETH-B | 5,000,000 | 10,000,000 | 5,000,000 |
| WBTC-A | 15,000,000 | 30,000,000 | 15,000,000 |
| YFI-A | 5,000,000 | 7,000,000 | 2,000,000 |
| UNI-A | 3,000,000 | 5,000,000 | 2,000,000 |
Target Available Debt (gap) Decreases
| Vault Type | Old | New | Change |
|---|---|---|---|
| ZRX-A | 1,000,000 | 500,000 | -500,000 |
| LRC-A | 1,000,000 | 500,000 | -500,000 |
Ceiling Increase Cooldown (ttl) Decreases
All vault types with DC-IAM enabled have their proposed Ceiling Increase Cooldown (ttl) decreased from 12 hours to 8 hours.
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 actions will be taken:
- These parameter changes will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
- If the Friday executive passes, then these changes 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.
Adjusting Auction Parameters for ETH Vault Types
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Risk Core Unit. This Governance Poll will be active for three days beginning on Monday, June 7 at 16:00 UTC.
This is a binary vote.
- You may vote for a single option.
- You should vote for the option which you prefer.
- If you would accept either option, you should vote 'Abstain'.
Review
This poll allows the MakerDAO governance community to signal their support or opposition to changing the following parameters for ETH Vault Types in the Maker Protocol.
Increasing Local Liquidation Limits (ilk.hole)
- ETH-A Local Liquidation Limit from 22M to 30 million DAI
- ETH-B Local Liquidation Limit from 8M to 15 million DAI
- ETH-C Local Liquidation Limit from 5M to 20 million DAI
ETH-B Adjustments
- Decrease Price Change Interval (
step) from 90 seconds to 60 seconds - Decrease Auction Price Multiplier (
buf) from 1.3 to 1.2
Outcomes
If the votes for the 'Yes' option exceed the votes for the 'No' option, then the following actions will be taken:
- These changes will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
- If the Friday executive passes, then these changes 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.
Decrease the UNIV2DAIUSDC-A Liquidation Ratio and Stability Fee
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Community. This Governance Poll will be active for three days beginning on Monday, June 7 at 16:00 UTC.
This is an instant-runoff vote.
- You may rank any number of options that you would support in an executive vote.
- Unranked options signal that you would not support the option(s) in an executive vote.
- If you have no preference to any of the listed options, you should vote 'Abstain' as your first and only choice.
Review
The community can vote in this poll to rank their support of the following options to change the Liquidation Ratio and Stability Fee for the UNIV2DAIUSDC-A vault type:
- Decrease Liquidation Ratio from 105% to 101%, decrease the Stability Fee from 1.0% to 0.5%.
- Decrease Liquidation Ratio from 105% to 101%, decrease the Stability Fee from 1.0% to 0.5%.
- No change (105% Liquidation Ratio, 1.0% Stability Fee)
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 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 winner represents a change from the status quo, then 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.
Investigate Implementation of a YFI-C Vault Type with a Higher Liquidation Ratio
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Community. This Governance Poll will be active for three days beginning on Monday, June 7 at 16:00 UTC.
This is a binary vote.
- You may vote for a single option.
- You should vote for the option which you prefer.
- If you would accept either option, you should vote 'Abstain'.
Review
This poll asks whether a YFI-C vault type with a higher Liquidation Ratio (similar to ETH-C) should be prioritized for inclusion in the Maker Protocol by the Core Units and Domain Teams.
Please review the discussion thread to help inform your position before voting.
Outcomes
Regardless of the winning option the following actions will be taken at the conclusion of this poll:
- A YFI-C vault-type will be added to the Collateral Prioritisation Sheet by the Governance Facilitators.
- This vault-type will be added with a 'greenlight score' calculated using the outcome of this poll using the formula
Score = 'Yes' Votes - 'No' Votes - The Core Units and Domain Teams will use the Collateral Prioritisation Sheet to direct their work on onboarding new vault-types.
Whitelist Yearn Finance on UNIUSD, LINKUSD, AAVEUSD, COMPUSD Oracles (MIP10c9-SP29)
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Oracle Domain Team. This Governance Poll will be active for three days beginning on Monday, June 7 at 16:00 UTC.
This is a binary vote.
- You may vote for a single option.
- You should vote for the option which you prefer.
- If you would accept either option, you should vote 'Abstain'.
Review
The community can vote in this poll to express support or opposition to appending Yearn Finance to the UNIUSD, LINKUSD, AAVEUSD, COMPUSD Oracle Security Module whitelists to read current and queued price data.
Please review the application thread to inform your position on this issue 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 an upcoming Executive Vote. It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.
- If the Executive Vote 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.
Resources
Additional information about the MIPs process can be found in the Maker Improvement Proposals (MIPs) repository.
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.