Governance Polls: Ratifications
August 9, 2021
The Governance Facilitator and the Maker Foundation Smart Contracts Team have placed an Executive Vote into the voting system which will enable the community to approve the following alterations to the protocol.
As per this community signal request, the PAX debt ceiling will be increased from 60 million to 100 million if this proposal passes.
As per the weekly Base Rate poll the Base Rate meta-parameter will be decreased from 0.25% to 0% if this proposal passes.
Stability Fees are calculated from the Base Rate and Risk Premiums using the formula
Stability Fee = max(Base Rate + Risk Premium, 0%). Please note that a negative Base Rate does NOT imply negative Stability Fees.
As per this forum thread and the response from the Smart Contracts Domain Team, the new TUSD Token contract implementation will be whitelisted for use in the Maker Protocol if this proposal passes.
Therefore, if this Executive proposal passes the following will occur:
The Executive Vote (FAQ) will continue until the number of votes surpasses the total in favor of the previous Executive Vote. This is a continuous approval vote.
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 and Audio for these calls is available to review.
Voting for this proposal will place your MKR in support of implementing the changes outlined above.
If you are new to voting in the Maker Protocol, please see the voter onboarding guide to learn how to use this dashboard and set up your wallet to vote.
Additional information about the Governance process can be found in the Governance Risk Framework: Governing 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.