Governance Poll: Base Rate adjustment, ETH Debt Ceiling, Greenlight Polls, and more

17 August 2020

The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents polls to implement the Base Rate adjustment, raise the ETH Debt Ceiling, Community Greenlight polls, and more.

Poll: Base Rate Adjustment 

The Governance Facilitators have placed a governance poll into the voting system which presents several possible Base Rate options. Voters are now able to signal their support for a Base Rate within a range of -10% to -2%.

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.

Details on how the Base Rate parameter was introduced, and its impact on the Stability Fee parameters for each collateral asset can be found in the following threads on the MakerDAO forum.

This weekly Governance Poll (FAQ) will be active for three days beginning on Monday, August 17 at 16:00UTC, the results of which may inform an Executive Vote which will go live on Friday, August 21 at 16:00UTC.

Review

The Base Rate is usually not discussed explicitly on a weekly basis as this poll is a regular occurrence. Please review the governance forum to see if there has been any discussion on the vote this week to inform your position before voting.

Next Steps

If the winning result of this poll differs from the current Base Rate parameter value in the Maker Protocol then this change will be included in the Executive Vote on the Friday following the conclusion of this poll.

If the Friday executive passes, then this rate change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Poll: Adjust the ETH-A Debt Ceiling

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Foundation Risk Team. The community can use this poll to express support or opposition to increasing the ETH-A Debt Ceiling from 340 million to 420 million.

This Governance Poll (FAQ) will be active for one day beginning on Monday, August 17 at 16:00 UTC, the results of which may inform an Executive Vote (FAQ) which will go live later this week.

Review

Please review the [Discussion] ETH-A Debt Ceiling Raise forum thread to inform your position before voting.

Next Steps

If this poll ends with a 'Yes' majority, this change will be included in either in the Executive Vote on Friday, August 21 2020 or it will be included in an expedited Executive Vote prior to that time.

Poll: MIP9 Community Greenlight Poll - BUSD (Binance USD)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset BUSD (Binance USD) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding BUSD (Binance USD) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Poll: MIP9 Community Greenlight Poll - CHI (Chi Gastoken)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset CHI (Chi Gastoken) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding CHI (Chi Gastoken) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Poll: MIP9 Community Greenlight Poll - GUSD (Gemini USD)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset GUSD (Gemini USD) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding GUSD (Gemini USD) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Poll: MIP9 Community Greenlight Poll - HBTC (Huobi Global BTC)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset HBTC (Huobi Global BTC) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding HBTC (Huobi Global BTC) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Poll: MIP9 Community Greenlight Poll - HTC-DROP (Harbor Trade Credit DROP)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset HTC-DROP (Harbor Trade Credit DROP) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding HTC-DROP (Harbor Trade Credit DROP) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Poll: MIP9 Community Greenlight Poll - NS-DROP (New Silver DROP)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset NS-DROP (New Silver DROP) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding NS-DROP (New Silver DROP) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Poll: MIP9 Community Greenlight Poll - REN (REN)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset REN (REN) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding REN (REN) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Poll: MIP9 Community Greenlight Poll - TAUD (TrueAUD)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset TAUD (TrueAUD) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding TAUD (TrueAUD) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Poll: MIP9 Community Greenlight Poll - TCAD (TrueCAD)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset TCAD (TrueCAD) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding TCAD (TrueCAD) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Poll: MIP9 Community Greenlight Poll - TGBP (TrueGBP)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset TGBP (TrueGBP) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding TGBP (TrueGBP) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Poll: MIP9 Community Greenlight Poll - UNI-V2-DAI-ETH (UniswapV2 Dai-Eth Liquidity Token)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset UNI-V2-DAI-ETH (UniswapV2 Dai-Eth Liquidity Token) should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding UNI-V2-DAI-ETH (UniswapV2 Dai-Eth Liquidity Token) as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application forum thread to inform your position before voting.

Next Steps

The domain teams will use the outcome of this poll to inform the direction of their collateral onboarding work.

Monthly MIPs Governance Poll

The Governance Facilitators have placed the MIP3: Monthly Governance Poll into the voting system. This poll asks whether the bundled contents of this month's Governance Cycle should proceed to an Executive Vote to be held on August 24, 2020. The bundled contents of this poll consist of:

This Monthly Governance Poll (FAQ) will be active for approximately 3 days beginning on Monday, August 14 at 16:00 UTC.

Review

The proposals can be reviewed in this weeks weekly MIPs update here. It was also discussed on the latest Governance and Risk call on August 13, 2020.

Next Steps

MKR holders must vote to determine whether to accept or reject the bundle of proposals included within the Monthly Governance Poll, determining whether the bundle should proceed to the final ratification vote (Executive Vote) in the last week of the monthly Governance Cycle. The Executive Vote will be submitted on August 24, 2020 if the Governance Facilitators confirm a 'yes' outcome of the Monthly Governance Poll on the next Governance and Risk call on August 20, 2020.

Resources

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.

17 August 2020