Governance Polls: PSM Implementation, Appoint Argent as an Oracle Light Feed, and more

20 July 2020

The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents polls to implement the Peg Stabilization Module, appoint Argent as an Oracle Light Feed, Base Rate adjustments, and community greenlight polls for collateral.

Poll: PSM Implementation Poll

The Governance Facilitators have placed a governance poll into the voting system which gives Maker Governance the chance to signal their support for the implementation of the Peg Stabilization Module (PSM) proposal in some form, with implementation aimed for the end of July.

This non-standard weekly Governance Poll (FAQ) will be active for 3 days beginning on Monday, July 20 at 16:00 UTC.

Review

The Peg Stabilization Module proposal discussion is taking place across a number of threads on the official forum. The initial proposal can be found here.

Further threads discussing the issue can be found under the pegstab-module tag on the forum.

Next Steps

The governance poll timeline for this issue can be found in this thread.

If this poll ends with a 'Yes' majority, further polls will take place on July 27, 2020 to determine the parameters for the PSM implementation.

If this poll ends with a 'No' majority, implementation of the PSM will need to either:
a) proceed under the MIPs process and the Monthly Governance Cycle
b) take place as an emergency action recommended by a Risk Domain team

Governance Poll to Appoint Argent as Oracle Light Feed (MIP10c15-SP5)

On July 20, 2020 the Maker Community will vote to determine whether the Maker Improvement Subproposal MIP10c15-SP5 will proceed to the final Executive Vote on July 31, 2020. In short, MIP10c15-SP5 appoints Argent as an Oracle Light Feed who submits price data to the MakerDAO Oracles.

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.

Review

The proposal to appoint Argent as an Oracle Light Feed can be reviewed here: MIP10c15-SP5: Subproposal to Appoint Argent as Oracle Light Feed.

Next Steps

If the Governance Poll passes, the Oracle Team will assist Argent to setup and configure their Oracle Light Feed. Then the proposal will proceed to the final ratification vote (Executive Vote) on July 31, 2020.

Poll: Dai Savings Rate Spread Adjustment

The Governance Facilitators have placed a governance poll into the voting system which presents a number of possible Dai Savings Rate Spread options. Voters are now able to signal their support for a Dai Savings Rate Spread within a range of 0% to 4%.

Details on how the Dai Savings Rate Spread parameter was introduced, and its impact on the Dai Savings Rate parameter can be found in the following threads on the MakerDAO forum.

This biweekly Governance Poll (FAQ) will be active for three days beginning on Monday, July 20 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, July 24 at 16:00 UTC.

Review

The Dai Savings Rate Spread parameter 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 Dai Savings Rate Spread 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: Base Rate Adjustment

The Governance Facilitators have placed a governance poll into the voting system which presents a number of possible Base Rate options. Voters are now able to signal their support for a Base Rate within a range of -4% to 4%.

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, July 20 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, July 24 at 16:00 UTC.

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.

MIP3: Monthly 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 July 27, 2020. The bundled contents of this poll consist of:

This Monthly Governance Poll (FAQ) will be active for 3 days beginning on Monday, July 20 at 16:00 UTC.

Review

The proposals can be reviewed in this week's weekly MIPs update here. It was also discussed on the latest Governance and Risk call on July 16, 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 July 27, 2020 if the Governance Facilitators confirm a 'yes' outcome of the Monthly Governance Poll on the next Governance and Risk call on July 23, 2020.

Poll: MIP9 Community Greenlight Poll - AMPL (Ampleforth Token)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset AMPL (Ampleforth 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 AMPL (Ampleforth 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.

Poll: MIP9 Community Greenlight Poll - BNT (Bancor Network Token)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset BNT (Bancor Network 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 BNT (Bancor Network 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.

Poll: MIP9 Community Greenlight Poll - C20 (Crypto20)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset C20 (Crypto20) 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 C20 (Crypto20) 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 - COMP (Compound)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset COMP (Compound) 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 COMP (Compound) 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 - EURS (Stasis Euro)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset EURS (Stasis Euro) 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 EURS (Stasis Euro) 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 - HUSD

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset HUSD 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 HUSD 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 - LRC (Loopring Token)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset LRC (Loopring 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 LRC (Loopring 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.

Poll: MIP9 Community Greenlight Poll - PAX (Paxos Standard)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset PAX (Paxos Standard) 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 PAX (Paxos Standard) 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 - USDT (Tether USD ERC20)

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset USDT (Tether USD ERC20) 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 USDT (Tether USD ERC20) 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 - WiV

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset WiV 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 WiV 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 - renBTC 

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the asset renBTC 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 renBTC 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.

Resources

MIP9: Community Greenlight describes this type of poll and goes into more detail about how it interacts with the rest of the collateral onboarding process.

If you are new to voting in the Maker Protocol, please see the voter onboarding guide to learn how to use this dashboard and setup 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.

20 July 2020