Governance Polls: Oracle Whitelists, Prioritizing Real World Asset Collateral, and more

September 21, 2020

The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents polls to implement Oracle Whitelisting, prioritize Real World Asset Collateral, Community Greenlights, and more.

Whitelist Opyn on ETHUSD Medianizer Oracle (MIP10c9-SP7)

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 Opyn to the ETHUSD Medianizer Oracle whitelist to read 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.

Review

Please review the discussion MIP10c9 - SP7: Whitelist Opyn on ETHUSD Oracle to inform your position on this issue before voting.

Next Steps

If this poll ends with a 'Yes' majority, this change change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.

If this poll ends with a 'No' majority, then no further action will be taken.

If the Friday executive passes, then this change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Whitelist Kyber on ETHUSD Medianizer Oracle (MIP10c9-SP11)

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 Kyber to the ETHUSD Medianizer whitelist to read 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.

Review

Please review the discussion MIP10c9-SP11: Whitelist Kyber’s Promo Token Pricing Contract on ETHUSD Oracle to inform your position on this issue before voting.

Next Steps

If this poll ends with a 'Yes' majority, this change change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.

If this poll ends with a 'No' majority, then no further action will be taken.

If the Friday executive passes, then this change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Whitelist DDEX on BTCUSD Medianizer Oracle (MIP10c9-SP8)

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 DDEX to the BTCUSD Medianizer Oracle whitelist to read 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.

Review

Please review the discussion MIP10c9-SP8: Whitelist DDEX on WBTCUSD Oracle to inform your position on this issue before voting.

Next Steps

If this poll ends with a 'Yes' majority, this change change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.

If this poll ends with a 'No' majority, then no further action will be taken.

If the Friday executive passes, then this change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Whitelist Yearn Finance on BTCUSD OSM Oracle (MIP10c9-SP10)

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 BTCUSD 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.

Review

Please review the discussion MIP10c9-SP10: Whitelist Yearn Finance on BTCUSD Oracle to inform your position on this issue before voting.

Next Steps

If this poll ends with a 'Yes' majority, this change change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.

If this poll ends with a 'No' majority, then no further action will be taken.

If the Friday executive passes, then this change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Update the Data Model of the ETHUSD Oracle (MIP10c7-SP1)

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 updating the data model of the ETHUSD Oracle. The Data Model accounts for which sources are used to collect price data as well as how that data is processed into a canonical price.

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

Please review the discussion MIP10c7-SP1: Update ETHUSD Data Model to inform your position on this issue before voting.

Next Steps

If this poll ends with a 'Yes' majority, this change change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.

If this poll ends with a 'No' majority, then no further action will be taken.

If the Friday executive passes, then this change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Poll: Prioritising the onboarding of Real World Asset collateral in the short term

The Maker Governance Facilitator has placed a Governance Poll into the voting system on behalf of the Maker Governance Community. The community can use this poll to express support or opposition to domain teams prioritising the onboarding of Real World Asset collateral in the short term.

This non-standard weekly Governance Poll (FAQ) will be active for three days beginning on Monday, September 21 at 16:00 UTC.

Review

The signal request for RWA prioritisation can be found here along with the results. Please review the discussion there to inform your position before voting.

Next Steps

If this poll ends with a 'Yes' majority, the domain teams and community will have the support of MKR Token Holders for prioritising the onboarding of Real World Asset collateral in the short term.

If this poll ends with a 'No' majority, the domain teams and community will not have the support of MKR Token Holders for prioritising the onboarding of Real World Asset collateral in the short term.

Poll: Adjust the BAT-A Debt Ceiling

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Governance Community. The community can use this poll to express support or opposition for a BAT Debt Ceiling increase from 5 million Dai to 10 million Dai.

This Governance Poll (FAQ) will be active for three days beginning on Monday, September 21 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, September 25, at 16:00 UTC.

Review

The BAT Debt Ceiling was voted on in a forum signal request. Please review the thread to inform your position before voting.

Next Steps

If this poll ends with a 'Yes' majority, 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 debt ceiling change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Poll: Adjust the ETH-A Risk Premium

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Governance Community. The community can use this poll to express support or opposition to increasing the ETH-A Risk Premium from 0% to 2%.

This Governance Poll (FAQ) will be active for three days beginning on Monday, September 21 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, September 25, at 16:00 UTC.

Review

The ETH-A Risk Premium was voted on in a forum signal request. Please review the thread to inform your position before voting.

Next Steps

If this poll ends with a 'Yes' majority, this change will be included in the Executive Vote on Friday, September 25, 2020.

If this poll ends with a 'No' majority, then no further action will be taken.

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 several possible Base Rate options. Voters are now able to signal their support for a Base Rate within a range of -4% to 4%.

Stability Fees are calculated from the Base Rate and Risk Premiums using the formula Stability Fee = max(Base Rate + Risk Premium, 0%). Please note that a negative Base Rate does NOT imply negative Stability Fees.

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, September 21, at 16:00 UTC the results of which may inform an Executive Vote which will go live on Friday, September 25, 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.

Monthly MIPs 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 September 28, 2020. The bundled contents of this poll consist of:

This Monthly Governance Poll (FAQ) wwill be active for three days beginning on Monday, September 21 at 16:00 UTC.

Review

The proposals can be reviewed in this weeks weekly MIPs update here. It was also discussed on the latest Governance and Risk call on September 17, 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 September 28, 2020 if the Governance Facilitators confirm a 'yes' outcome of the Monthly Governance Poll on the next Governance and Risk call on September 24, 2020.

Polls: Community Greenlights

Description

The Governance Facilitators have placed a series of governance polls into the voting system which asks whether the assets BAL, CAT, CGT, UMA, YFI, ARCA, cDAI, wNXM, REINNO, renBCH, renZEC, MOONI-ETH-USDC, MOONI-ETH-USDT, MOONI-ETH-WBTC, and BPT-80BAL-20WETH 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 the asset as a collateral asset to the Maker Protocol.

Review

Please review the collateral onboarding application of the following forum threads to inform your position before voting.
BAL - Forum Thread
CAT - Forum Thread
CGT - Forum Thread
UMA - Forum Thread
YFI - Forum Thread
ARCA - Forum Thread
cDAI - Forum Thread
wNXM - Forum Thread
REINNO - Forum Thread
renBCH - Forum Thread
renZEC - Forum Thread
MOONI-ETH-USDC - Forum Thread
MOONI-ETH-USDT - Forum Thread
MOONI-ETH-WBTC - Forum Thread
BPT-80BAL-20WETH - Forum Thread

Next Steps

The domain teams will use the outcome of these polls 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 set up 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.

September 21, 2020

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