The Maker Foundation Interim Governance Facilitator has placed an Executive Vote into the voting system, which will enable the community to approve the following alterations to the protocol:
- Lower the USDC Stability Fee from 8% to 6%
- Lower the USDC Liquidation Ratio from 125% to 120%
- Whitelist Set Protocol on ETH/USD Oracle
- Create BTC/USD Oracle + Whitelist Set Protocol and dYdX
- Create ETH/BTC Oracle + Whitelist tBTC
- Deactivate the MKR Oracle in SCD
- Raise the Governance Security Module delay from 4 hours to 12 hours
- Raise the DAI Debt Ceiling from 90 Million to 100 Million
Note: As discussed on the forum this spell will be implementing a grace period until 16:00 UTC on May the 12th, upon at which time SCD will undergo actual shutdown. The action of caging the system at this point in time is implemented through this executive spell which includes a mini contract controlling the time of shutdown. It is also worth noting that collateral prices at the time of caging will be determined by the Oracle.
The MakerDAO community is moving forward with an Executive Vote to determine whether it will enact the changes established by the previous Governance Polls.
Voting for this proposal will place your MKR in support of implementing the changes outlined above.
Additional information about the Governance process can be found in the Governance Risk Framework: Governing MakerDAO
Demos, help and instructional material for the Governance Dashboard can be found at Awesome 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.