Governance Polls: Parameter Changes, Collateral Onboarding, and more

December 7, 2020

The MakerDAO Governance Facilitator has placed a governance poll into the voting system on behalf of the Maker Governance community which gives Maker Governance the chance to signal their support or opposition to parameter changes, collateral onboarding, and more.

Poll: Adjust YFI-A System Parameters

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Risk Domain Team. The community can vote in this poll to express support or opposition to adjusting the YFI-A Debt Ceiling and Stability Fee as detailed below.

This Governance Poll will be active for three days beginning on Monday, December 7 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should vote 'Abstain'.

Review

The two proposed adjustments to the YFI-A vault type are as follows:

  • Increase the YFI-A Debt Ceiling from 20 million DAI to 30 million DAI.
  • Increase the YFI-A Stability Fee from 4% to 10%.

Please review the discussion thread to help inform your position before voting.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • A Debt Ceiling increase from 20 million DAI to 30 million DAI for the YFI-A vault type will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • A Stability Fee increase from 4% to 10% for the YFI-A vault type will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then these changes will become active in the Maker Protocol after the Governance Security Module delay has expired.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

Poll: Lower Stablecoin Stability Fees

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Risk Domain Team. The community can vote in this poll to express support or opposition to adjusting the Stability Fees for the USDC-A, TUSD-A, PAXUSD-A, and GUSD-A vault types as listed below.

This Governance Poll will be active for three days beginning on Monday, December 7 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should vote 'Abstain'.

Review

The proposed parameter adjustments are as follows:

  • Decrease the USDC-A Stability Fee from 4% to 0%.
  • Decrease the TUSD-A Stability Fee from 4% to 0%.
  • Decrease the PAXUSD-A Stability Fee from 4% to 0%.
  • Decrease the GUSD-A Stability Fee from 4% to 0%.

Please review the discussion thread to help inform your position before voting.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • A Stability Fee reduction for USDC-A, TUSD-A, PAXUSD-A, and GUSD-A from 4% to 0% will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then these changes will become active in the Maker Protocol after the Governance Security Module delay has expired.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

Poll: Adjust the ETH-B Debt Ceiling

The Governance Facilitators have placed a Governance Poll into the voting system on behalf on behalf of the Maker Governance community. The community can vote in this poll to express support or opposition to adjusting the ETH-B Debt Ceiling.

This Governance Poll will be active for three days beginning on Monday, December 7 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should abstain.

Review

The proposed adjustment to the ETH-B vault type is as follows:

  • Increase the ETH-B Debt Ceiling from 10 million DAI to 20 million DAI.

Please review the discussion thread to inform your position on this issue before voting.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • This parameter change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then this parameter change will become active in the Maker Protocol after the Governance Security Module delay has expired.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

Poll: Add AAVE (Aave) as a Collateral Type

The MakerDAO governance facilitator has placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This poll allows the MakerDAO governance community to signal their support or opposition to adding AAVE (Aave) as a collateral type in the Maker Protocol.

This Governance Poll will be active for three days beginning on Monday, December 7 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should abstain.

Review

The proposed initial system parameters for AAVE (Aave) are:

  • Stability Fee: 6%
  • Liquidation Ratio: 175%
  • Debt Ceiling: 10 million DAI
  • Auction Lot Size: 50,000 DAI
  • Minimum Bid Increment: 3%
  • Bid Duration: 6 hours
  • Max Auction Duration: 6 hours
  • Liquidation Penalty: 13%
  • Dust: 500 Dai

Please review the following forum threads containing information about AAVE (Aave) to inform your position before voting.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • AAVE (Aave) will be included in a future executive vote as the Smart Contracts domain team's schedule allows.
  • It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

Poll: Add UNI-V2-DAI-ETH (UniswapV2 DAI-ETH LP Token) as a Collateral Type

The MakerDAO governance facilitator has placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This poll allows the MakerDAO governance community to signal their support or opposition to adding UNI-V2-DAI-ETH (UniswapV2 DAI-ETH LP Token) as a collateral type in the Maker Protocol.

This Governance Poll will be active for three days beginning on Monday, December 7 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should abstain.

Review

The proposed initial system parameters for UNI-V2-DAI-ETH (UniswapV2 DAI-ETH LP Token) are:

  • Stability Fee: 1%
  • Liquidation Ratio: 125%
  • Debt Ceiling: 3 million DAI
  • Auction Lot Size: 50,000 DAI
  • Minimum Bid Increment: 3%
  • Bid Duration: 6 hours
  • Max Auction Duration: 6 hours
  • Liquidation Penalty: 13%
  • Dust: 500 DAI

Please review the following forum threads containing information about UNI-V2-DAI-ETH (UniswapV2 DAI-ETH LP Token) to inform your position before voting.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • UNI-V2-DAI-ETH (UniswapV2 DAI-ETH LP Token) will be included in a future executive vote as the Smart Contracts domain team's schedule allows.
  • It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

Poll: Add UNI-V2-USDC-ETH (UniswapV2 USDC-ETH LP Token) as a Collateral Type

The MakerDAO governance facilitator has placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This poll allows the MakerDAO governance community to signal their support or opposition to adding UNI-V2-USDC-ETH (UniswapV2 USDC-ETH LP Token) as a collateral type in the Maker Protocol.

This Governance Poll will be active for three days beginning on Monday, December 7 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should abstain.

Review

The proposed initial system parameters for UNI-V2-USDC-ETH (UniswapV2 USDC-ETH LP Token) are:

  • Stability Fee: 1%
  • Liquidation Ratio: 125%
  • Debt Ceiling: 3 million DAI
  • Auction Lot Size: 50,000 DAI
  • Minimum Bid Increment: 3%
  • Bid Duration: 6 hours
  • Max Auction Duration: 6 hours
  • Liquidation Penalty: 13%
  • Dust: 500 DAI

Please review the following forum threads containing information about UNI-V2-USDC-ETH (UniswapV2 USDC-ETH LP Token) to inform your position before voting.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • UNI-V2-USDC-ETH (UniswapV2 USDC-ETH LP Token) will be included in a future executive vote as the Smart Contracts domain team's schedule allows.
  • It is expected that this executive vote will take place within 60 days of this poll passing, absent external factors.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

Poll: ETH-B Debt Ceiling Instant Access Module

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Risk Domain Team. The community can vote in this poll to express support or opposition to using the Debt Ceiling Instant Access Module for ETH-B with the listed parameters.

This Governance Poll will be active for three days beginning on Monday, December 7 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should vote 'Abstain'.

Review

The proposed initial parameters for the ETH-B Debt Ceiling Instant Access Module are:

  • Collateral Type (ilk): ETH-B
  • Maximum Debt Ceiling (line): 50 million DAI
  • Target Available Debt (gap): 5 million DAI
  • Ceiling Increase Cooldown (ttl): 12 hours

Please review the discussion thread to help inform your position before voting.

Additional information on the Debt Ceiling Instant Access Module can be found in MIP27.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • The Debt Ceiling Instant Access Module will be deployed to mainnet.
  • The Debt Ceiling Instant Access Module will be granted permissions to modify debt ceilings in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • The above Debt Ceiling Instant Access Module parameters will be set for ETH-B in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then these changes will become active in the Maker Protocol after the Governance Security Module delay has expired.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

Resources

If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works, and this wallet setup guide to set up your wallet to vote.

Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.

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.

December 7, 2020

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