Governance Polls: Oracles and Collateral Onboarding

November 30, 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 an Oracle whitelisting and collateral onboarding.

Whitelist Yearn Finance on YFIUSD Oracle (MIP10c9-SP14)

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Oracle Domain Team. The community can vote in this poll to express support or opposition to appending Yearn Finance to the YFIUSD Oracle Security Module whitelist to read current and queued price data.

Note: This subproposal has been submitted under the informal weekly cycle rather than the MIP3 Governance Cycle due to inconsistencies between MIP10 and MIP3 and to avoid delaying progress in the oracles domain until MIP10 can be amended.

This Governance Poll will be active for three days beginning on Monday, November 30 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

Please review the application 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 change will be included in an upcoming Executive Vote. Normally this Execute Vote would be scheduled on the Friday following the conclusion of this poll. However, due to the timing of the DsChief 1.2 migration, it is likely no Executive Vote will take place on December 4. Hence, if this poll is ratified by Maker Governance, the Executive Vote is expected to occur the following Friday on December 11.
  • If the Executive Vote passes, then this 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.

Add renBTC 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 renBTC as a collateral type in the Maker Protocol.

This Governance Poll will be active for three days beginning on Monday, November 30 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 renBTC are:

  • Stability Fee: 6%
  • Liquidation Ratio: 175%
  • Debt Ceiling: 2 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

Note that the Dust parameter has been brought into line with the other collateral types after the success of this Executive Vote.

Please review the following forum threads containing information about renBTC 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:

  • renBTC 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.

Add RWA-001 (6s Capital) 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 RWA-001 (6s Capital) as a collateral type in the Maker Protocol.

This Governance Poll will be active for three days beginning on Monday, November 30 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 RWA-001 (6s Capital) are:

  • Stability Fee: 3%
  • Debt Ceiling: 15 Million DAI
  • Liquidation: See MIP21 for details.

Note that due to the nature of Real-World Assets, many of the usual system parameters do not apply to this vault-type and have been excluded from this list.

Please review the following forum threads containing information about RWA-001 (6s Capital) 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:

  • RWA-001 (6s Capital) 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.

Add UNI (Uniswap) 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 (Uniswap) as a collateral type in the Maker Protocol.

This Governance Poll will be active for three days beginning on Monday, November 30 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 (Uniswap) are:

  • Stability Fee: 3%
  • Liquidation Ratio: 175%
  • Debt Ceiling: 15 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 (Uniswap) 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 (Uniswap) 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.

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.

November 30, 2020

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