Governance Poll: Stability Fee Adjustment - April 22

22 April 2019

The Maker Foundation Interim Risk Team has placed a Governance Poll into the voting system which presents a number of possible Dai Stability Fee increase options. Voters are now able to signal their support for one of the following Stability Fee increases: 0%, +1%, +2%, +3%, or +4%.

This Governance Poll (FAQ) will be active for three days beginning on Monday, April 22 at 4 PM UTC, the results of which will inform an Executive Vote (FAQ) which will go live on Friday, April 26, at 4 PM UTC.

Review

The need to increase the Stability Fee was discussed in the Governance call on Thursday, April 25. Please review the VideoAudioTranscript and the online discussion to inform your position before voting.

Key factors under consideration for increasing the Stability Fee are:

  • Exchange price persists below $1
  • High inventory levels among market makers and prop desks
  • Little attributable impact from the previous Stability Fee increases

The MakerDAO community is moving forward with a Governance Poll to gauge sentiment for an additional Stability Fee increase. The Interim Foundation Risk Team has put together a proposal that includes a range of options. Voters may signal their support for a Stability Fee increase of: 0%, +1%, +2%, +3%, or +4%.

Next Steps

  • On the Friday following the conclusion of the poll, there will be an Executive Vote asking MKR token holders if they support or reject the change proposed by this Governance Poll.
  • This weekly cycle of Polling and Voting will continue until the community believes that stability has returned to the peg.

Resources

Additional information about the Governance process can be found in theĀ 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.

22 April 2019