MOMC Parameter Changes, CRVV1ETHSTETH-A Debt Ceiling Increase, Recognized Delegate Compensation, ETHAmsterdam Event SPF Funding - April 08, 2022

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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 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.

Executive Summary

If this executive proposal passes, the following changes will occur within the Maker Protocol:

Voting for this executive proposal will place your MKR in support of the changes 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.

Proposal Details

MOMC Parameter Changes

As per this governance poll on the latest MakerDAO Open Market Committee proposal, the following parameter changes will be made in the Maker Protocol if this executive proposal passes:

Stability Fee Decreases

  • Decrease the WSTETH-A Stability Fee by 0.25% from 2.5% to 2.25%.
  • Decrease the CRVV1ETHSTETH-A Stability Fee by 1.25% from 3.5% to 2.25%.
  • Decrease the WBTC-A Stability Fee by 0.5% from 3.75% to 3.25%.
  • Decrease the WBTC-B Stability Fee by 0.5% from 5% to 4.5%.
  • Decrease the GUNIV3DAIUSDC1-A Stability Fee by 0.1% from 0.1% to 0%.
  • Decrease the GUNIV3DAIUSDC2-A Stability Fee by 0.2% from 0.25% to 0.05%.

Maximum Debt Ceiling (line) Increases

  • Increase the GUNIV3DAIUSDC1-A Maximum Debt Ceiling by 650 million DAI from 100 million DAI to 750 million DAI.
  • Increase the GUNIV3DAIUSDC2-A Maximum Debt Ceiling by 250 million DAI from 750 million DAI to 1 billion DAI.

Target Available Debt (gap) Increase

  • Increase the GUNIV3DAIUSDC1-A Target Available Debt by 40 million DAI from 10 million DAI to 50 million DAI.

D3M Target Borrow Rate (bar) Increase

  • Increase the DIRECT-AAVEV2-DAI Target Borrow Rate by 0.65% from 2.85% to 3.5%.

CRVV1ETHSTETH-A Maximum Debt Ceiling (line) Increase

As a result of this post from the Risk Core Unit (RISK-001), the CRVV1ETHSTETH-A Maximum Debt Ceiling will be increased by 2 million DAI from 3 million DAI to 5 million DAI if this executive proposal passes.

Please note that a Maximum Debt Ceiling of 5 million DAI for this vault type was already approved by an on-chain poll.

Recognized Delegate Compensation

As per MIP61: Recognized Delegate Compensation, a total of 77,183 DAI will be distributed to nine Recognized Delegates as itemized below if this executive proposal passes:

ETHAmsterdam Event Special Purpose Fund DAI Distribution

As per this successful Special Purpose Fund (SPF) application, 50,000 DAI will be transferred to the ETHAmsterdam SPF Event multi-sig wallet at the address 0xF34ac684BA2734039772f0C0d77bc2545e819212 if this executive proposal passes.

Further information about this wallet set-up can be found in this forum post.


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.



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