Governance Polls: Add Multiple Vault Types to the Liquidations 2.0 Framework, and more

May 3, 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.

Add Multiple Vault Types to the Liquidations 2.0 Framework

The Governance Facilitators have 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, May 3 at 16:00 UTC.

This is a binary vote.

  • You may vote for a single option.
  • You should vote for the option which you prefer.
  • If you would accept either option, you should vote 'Abstain'.

Review

This poll allows the MakerDAO governance community to signal their support or opposition to adding the following vault types to the Liquidations 2.0 Framework in the Maker Protocol:

  • UNI-A
  • ZRX-A
  • AAVE-A
  • BAT-A
  • RENBTC-A
  • LRC-A
  • MANA-A
  • COMP-A
  • KNC-A
  • BAL-A

Common Parameters
These parameters will be identical for each of the vault types listed above.

Auction Price

Limits

Incentives

Local Liquidation Limits (ilk.hole)
This parameter is different for each vault type listed above.

  • UNI-A Local Liquidation Limit (ilk.hole): 5 million DAI
  • ZRX-A Local Liquidation Limit (ilk.hole): 1 million DAI
  • AAVE-A Local Liquidation Limit (ilk.hole): 5 million DAI
  • BAT-A Local Liquidation Limit (ilk.hole): 1.5 million DAI
  • RENBTC-A Local Liquidation Limit (ilk.hole): 3 million DAI
  • LRC-A Local Liquidation Limit (ilk.hole): 0.5 million DAI
  • MANA-A Local Liquidation Limit (ilk.hole): 1 million DAI
  • COMP-A Local Liquidation Limit (ilk.hole): 2 million DAI
  • KNC-A Local Liquidation Limit (ilk.hole): 0.5 million DAI
  • BAL-A Local Liquidation Limit (ilk.hole): 3 million DAI

Please review the following proposal containing the rationale for these proposed parameters 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:

  • The listed vault types will be added to the Liquidations 2.0 System by a future executive vote as the Smart Contracts Team 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.

Decrease the UNIV2DAIUSDC-A Liquidation Ratio

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Governance Community. This Governance Poll will be active for three days beginning on Monday, May 3 at 16:00 UTC.

This is a binary vote.

  • You may vote for a single option.
  • You should vote for the option which you prefer.
  • If you would accept either option, you should vote 'Abstain'.

Review

MKR Token Holders may vote in this poll to express support or opposition to the following Liquidation Ratio change:

  • Decrease the UNIV2DAIUSDC-A Liquidation Ratio from 110% to 105%.

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 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

Unsure about the Liquidation Ratio parameter and what you should take into account when voting? Check out the parameter documentation here.

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.

May 3, 2021

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