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

This Governance Poll (FAQ) will be active for three days beginning on Monday, May 13 at 4 PM UTC, the results of which will inform an Executive Vote (FAQ) which will go live on Friday, May 17, at 4 PM UTC.

Review

The need to change the Stability Fee was discussed in the Governance call on Thursday, May 9. Please review the Video, Audio, Transcript and the online discussion to inform your position before voting.

Key factors under consideration for altering the Stability Fee are:

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

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.

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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.