FLAP Auction Adjustment and RWA-02 (NS-DROP) Debt Ceiling Increase - July 17, 2021
The Governance Facilitator(s) and the Protocol Engineering Core Unit have placed an executive proposal into the voting system. MKR Holders should vote for this proposal if they support the following alterations to the Maker Protocol.
If this executive proposal passes, the following changes will occur within the Maker Protocol:
- The Bid Duration (ttl) for FLAP auctions will decrease from 60 minutes to 30 minutes.
- The Debt Ceiling for RWA-02 (NS-DROP) will increase from 5 million DAI to 20 million DAI.
Voting for this executive proposal will place your MKR in support of the changes and additions outlined above.
Unless otherwise noted, the changes and additions listed above are subject to the GSM Pause Delay. This means that if this executive proposal passes, the changes and additions listed above will only become active in the Maker Protocol after the GSM Pause Delay has expired. The GSM Pause Delay is currently set to 48 hours.
If this executive proposal does not pass within 30 days, then it will expire and can no longer have any effect on the Maker Protocol.
Decrease the Bid Duration (ttl) for FLAP Auctions
As per the successful outcome to this governance poll, the Bid Duration (ttl) for FLAP auctions will be decreased from 60 minutes to 30 minutes, if this executive proposal passes.
Increase the RWA-02 (NS-DROP) Debt Ceiling
Please see this signal request for further details and discussion on this parameter change.
Community debate on these topics can be found on the MakerDAO Governance forum. Please review any linked threads to inform your position before voting.
Additionally, these changes may have been discussed further in recent Governance calls. Video for these calls is available to review.
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.