Executive Vote: Add Oracles, Lower the Base Rate, Raise WBTC & USDC Debt Ceilings and Risk Premiums

3 July 2020

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 as outlined in these Polls:

And in this forum thread:

Therefore, voting for this Executive will:

  • Add multiple Oracle Feeds
  • Raise the USDC-A Stability Fee to 1% to 4%
  • Raise the USDC-A Debt Ceiling from 20 to 40 Million
  • Raise the WBTC-A Stability Fee from 1% to 2%
  • Raise the WBTC-A Debt Ceiling from 10 million to 20 million
  • Lower the Base Rate from 0.25% to 0% which, in conjunction with the Base Rate change, will set the following Stability Fees:
    • ETH-A: 0.0%
    • WBTC-A: 2%
    • BAT-A: 0.0%
    • KNC-A: 4%
    • ZRX-A: 4%
    • USDC-A: 4%
    • USDC-B: 50%
    • TUSD-A: 0%

The Executive Vote (FAQ) will continue until the number of votes surpass the total in favor of the previous Executive Vote. This is a continuous approval vote.

Review

These changes were discussed in the most recent Governance call. Please review the VideoAudio, and the online discussion to inform your position before voting.

The MakerDAO community is moving forward with an Executive Vote to determine whether it will enact the changes established by the previous Governance Polls.

Action

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


Resources

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.

3 July 2020