Governance Polls: Add Collateral Types, Set IAM Parameters, and more

February 8, 2021

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 these polls on the voting portal.

Poll: Add UNI-V2-UNI-ETH (UniswapV2 UNI-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 Governance Poll will be active for three days beginning on Monday, February 8 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

This poll allows the MakerDAO governance community to signal their support or opposition to adding UNI-V2-UNI-ETH (UniswapV2 UNI-ETH LP Token) as a collateral type in the Maker Protocol with the parameters below:

Please review the following forum threads containing information about UNI-V2-UNI-ETH (UniswapV2 UNI-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-UNI-ETH (UniswapV2 UNI-ETH LP Token) will be onboarded 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 executive vote passes, then these changes will become active in the Maker Protocol after the GSM Pause 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 UNI-V2-LINK-ETH (UniswapV2 LINK-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 Governance Poll will be active for three days beginning on Monday, February 8 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

This poll allows the MakerDAO governance community to signal their support or opposition to adding UNI-V2-LINK-ETH (UniswapV2 LINK-ETH LP Token) as a collateral type in the Maker Protocol with the parameters below:

Please review the following forum threads containing information about UNI-V2-LINK-ETH (UniswapV2 LINK-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-LINK-ETH (UniswapV2 LINK-ETH LP Token) will be onboarded 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 executive vote passes, then these changes will become active in the Maker Protocol after the GSM Pause 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: Set UNI-A Debt Ceiling Instant Access Module 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 using the Debt Ceiling Instant Access Module for UNI-A with the listed parameters.

This Governance Poll will be active for three days beginning on Monday, February 8 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 parameters for the UNI-A Debt Ceiling Instant Access Module are:

  • Collateral Type (ilk): UNI-A
  • Maximum Debt Ceiling (line): 50 million DAI
  • Target Available Debt (gap): 3 million DAI
  • Ceiling Increase Cooldown (ttl): 12 hours

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

For more information regarding the Debt Ceiling Instant Access Module and how these parameters interact, check out the module documentation here.

Outcomes

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

  • This 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 change will become active in the Maker Protocol after the GSM Pause 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: Set YFI-A Debt Ceiling Instant Access Module 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 using the Debt Ceiling Instant Access Module for YFI-A with the listed parameters.

This Governance Poll will be active for three days beginning on Monday, February 8 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 parameters for the YFI-A Debt Ceiling Instant Access Module are:

  • Collateral Type (ilk): YFI-A
  • Maximum Debt Ceiling (line): 45 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.

For more information regarding the Debt Ceiling Instant Access Module and how these parameters interact, check out the module documentation here.

Outcomes

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

  • This 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 change will become active in the Maker Protocol after the GSM Pause 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: Set AAVE-A Debt Ceiling Instant Access Module 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 using the Debt Ceiling Instant Access Module for AAVE-A with the listed parameters.

This Governance Poll will be active for three days beginning on Monday, February 8 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 parameters for the AAVE-A Debt Ceiling Instant Access Module are:

  • Collateral Type (ilk): AAVE-A
  • Maximum Debt Ceiling (line): 25 million DAI
  • Target Available Debt (gap): 2 million DAI
  • Ceiling Increase Cooldown (ttl): 12 hours

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

For more information regarding the Debt Ceiling Instant Access Module and how these parameters interact, check out the module documentation here.

Outcomes

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

  • This 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 change will become active in the Maker Protocol after the GSM Pause 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: Set COMP-A Debt Ceiling Instant Access Module 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 using the Debt Ceiling Instant Access Module for COMP-A with the listed parameters.

This Governance Poll will be active for three days beginning on Monday, February 8 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 parameters for the COMP-A Debt Ceiling Instant Access Module are:

  • Collateral Type (ilk): COMP-A
  • Maximum Debt Ceiling (line): 10 million DAI
  • Target Available Debt (gap): 2 million DAI
  • Ceiling Increase Cooldown (ttl): 12 hours

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

For more information regarding the Debt Ceiling Instant Access Module and how these parameters interact, check out the module documentation here.

Outcomes

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

  • This 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 change will become active in the Maker Protocol after the GSM Pause 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: Set LINK-A Debt Ceiling Instant Access Module 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 using the Debt Ceiling Instant Access Module for LINK-A with the listed parameters.

This Governance Poll will be active for three days beginning on Monday, February 8 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 parameters for the LINK-A Debt Ceiling Instant Access Module are:

  • Collateral Type (ilk): LINK-A
  • Maximum Debt Ceiling (line): 140 million DAI
  • Target Available Debt (gap): 7 million DAI
  • Ceiling Increase Cooldown (ttl): 12 hours

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

For more information regarding the Debt Ceiling Instant Access Module and how these parameters interact, check out the module documentation here.

Outcomes

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

  • This 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 change will become active in the Maker Protocol after the GSM Pause 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: Set WBTC-A Debt Ceiling Instant Access Module 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 using the Debt Ceiling Instant Access Module for WBTC-A with the listed parameters.

This Governance Poll will be active for three days beginning on Monday, February 8 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 parameters for the WBTC-A Debt Ceiling Instant Access Module are:

  • Collateral Type (ilk): WBTC-A
  • Maximum Debt Ceiling (line): 350 million DAI
  • Target Available Debt (gap): 15 million DAI
  • Ceiling Increase Cooldown (ttl): 12 hours

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

For more information regarding the Debt Ceiling Instant Access Module and how these parameters interact, check out the module documentation here.

Outcomes

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

  • This 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 change will become active in the Maker Protocol after the GSM Pause 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: Rates Proposal

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Rates Working Group. This Governance Poll will be active for three days beginning on Monday, February 8 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

MKR Token Holders may vote in this poll to express support or opposition to the following Stability Fee changes:

Increases

  • Increase the ETH-A Stability Fee from 3.5% to 4.5%.
  • Increase the ETH-B Stability Fee from 6.5% to 7.5%.
  • Increase the WBTC-A Stability Fee from 4% to 4.5%.
  • Increase the LINK-A Stability Fee from 2% to 3.5%.
  • Increase the COMP-A Stability Fee from 2% to 3%.
  • Increase the BAL-A Stability Fee from 2% to 3.5%.
  • Increase the UNIV2DAIETH-A Stability Fee from 1% to 2%
  • Increase the UNIV2USDCETH-A Stability Fee from 1% to 2.5%
  • Increase the UNIV2WBTCETH-A Stability Fee from 2% to 3.5%

Decreases

  • Decrease the BAT-A Stability Fee from 8% to 6%.
  • Decrease the YFI-A Stability Fee from 6% to 5.5%.

Please review the proposal 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:

  • These Stability Fee changes 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 GSM Pause 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.

Interim DAO Budget

The Governance Facilitator(s) have placed a Governance Poll into the voting system on behalf of the DAO Autonomous Group. This Governance Poll will be active for three days beginning on Monday, February 8 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 DAO Autonomous Group has been growing since its inception. We now have 10+ members actively working to move towards the decentralized future of Maker. As our responsibilities have been scaling up, so have our bills. So far, we have been able to cover all significant expenses thanks to the Foundation grants program. However, with the introduction of the community-led PSM this is no longer the case. We believe it is time to take the next step towards the decentralized funding of operations within MakerDAO.

The DAO Autonomous Group has set up a 4-of-5 Gnosis multi-sig wallet which will be administered by the following mandated domain facilitators:

  • @LongForWisdom - 0x66f40F044E0e2F77bB746e3275E82e88dCBA2D69
  • @Primoz - 0x5d67d5B1fC7EF4bfF31967bE2D2d7b9323c1521c
  • @SebVentures - 0x0D61C8b6CA9669A36F351De3AE335e9689dd9C5b
  • @juanjuan - 0xFCa6e196c2ad557E64D9397e283C2AFe57344b75
  • @hexonaut - 0x18CaE82909C31b60Fe0A9656D76406345C9cb9FB

The multi-sig wallet can be found here. This multi-sig wallet and the funds contained within are owned by Maker Governance but administered by the keyholders listed above. Governance has the power to withdraw all funds back to the Governance-controlled PauseProxy contract at any time. This provides a safety mechanism for lost keys and a way for governance to revoke access to funds in the future.

As of this poll, 52,627.15 DAI will be used to cover previous expenses:

  • Quantstamp Audit - 40,000.00 DAI
  • PSM / DssGovRewards Development Time - 11,435.70 DAI
  • Deployment Gas Expenses - 1,191.45 DAI

The remaining balance will be used to cover ongoing community development costs that the Foundation grants program cannot cover. All payouts from this multi-sig will be cataloged in a publically accessible document.

Please review the proposal 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 one-time transfer of 100,000 DAI from the Maker Protocol to the aforementioned multi-sig wallet will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then this transfer of funds will take place after the GSM Pause 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 17:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.

February 8, 2021

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