Executive Vote: Increase Debt Ceilings, Provide April Core Unit Budgets

April 2, 2021

The Governance Facilitator(s) and the MakerDAO Smart Contracts Domain Team have placed an executive proposal into the voting system. MKR Holders should vote for this proposal if they support the following alterations to the Maker Protocol.

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.

Executive Summary

If this executive proposal passes the following changes will occur within the Maker Protocol:

  • COMP-A Maximum Debt Ceiling will be increased from 10 million DAI to 30 million DAI.
  • ZRX-A Maximum Debt Ceiling will be increased from 5 million DAI to 10 million DAI.
  • YFI-A Maximum Debt Ceiling will be increased from 45 million DAI to 75 million DAI.
  • April Budgets for the Real-World Finance (RWF-001), Governance (GOV-001), and Risk (RISK-001) Core Units will be distributed.
    • 40,000 DAI to RWF-001
    • 80,000 DAI to GOV-001
    • 100,500 DAI to RISK-001

Voting for this executive proposal will place your MKR in support of the changes and additions outlined above.

Unless otherwise noted, the changes and additions listed above are subject to the GSM Pause Delay. This means that if this executive proposal passes, the changes and additions listed above will only become active in the Maker Protocol after the GSM Pause Delay has expired. The GSM Pause Delay is currently set to 48 hours.

This executive proposal does not include an office-hours modifier and can be executed immediately once the GSM Pause Delay has expired.

If this executive proposal does not pass within 30 days then it will expire and can no longer have any effect on the Maker Protocol.

Proposal Details

Increase COMP-A Maximum Debt Ceiling

Due to the positive outcome from this poll and associated signal request, the COMP-A Maximum Debt Ceiling will be increased from 10 million DAI to 30 million DAI if this executive proposal passes.

Increase ZRX-A Maximum Debt Ceiling

Due to the positive outcome from this poll and associated signal request, the ZRX-A Maximum Debt Ceiling will be increased from 5 million DAI to 10 million DAI if this executive proposal passes.

Increase YFI-A Maximum Debt Ceiling

Due to the positive outcome from this poll and associated signal request, the YFI-A Maximum Debt Ceiling will be increased from 45 million DAI to 75 million DAI if this executive proposal passes.

Provide April Core Unit Budgets

Due to the positive outcome from this poll and associated Governance Cycle Bundle, the following budget allocations will be made if this executive proposal passes.

Review

Community debate on these topics can be found on the MakerDAO governance forum. Please review any linked threads to inform your position before voting.

Additionally, these changes may have been discussed further in recent Governance calls. Video for these calls is available to review.

Resources

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.

April 2, 2021

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