MOMC Parameter Changes - July 13, 2022
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:
- Parameter changes from the latest proposal from the MakerDAO Open Market Committee proposal, including changes to Stability Fees, Maximum Debt Ceilings (
line), and Target Available Debt (gap) listed in detail below.
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.
Proposal Details
MOMC Parameter Changes Recommendation
As per this poll, the following changes recommended by the Maker Open Market Committee - Parameter Proposal Group will be made, if this executive proposal passes.
Stability Fee changes
- Increase the GUNIV3DAIUSDC1-A Stability Fee from 0% to 0.01%.
- Increase the UNIV2DAIUSDC-A Stability Fee from 0% to 0.01%.
- Increase the WSTETH-A Stability fee from 2.25% to 2.5%.
- Reduce the USDC-A Stability Fee from 1% to 0%.
- Reduce the USDP-A Stability Fee from 1% to 0%.
Maximum Debt Ceiling (line) changes
- Increase the UNIV2DAIUSDC-A Maximum Debt Ceiling from 250 million DAI to 300 million DAI.
- Reduce the LINK-A Maximum Debt Ceiling from 50 million DAI to 25 million DAI.
- Reduce the WSTETH-A Maximum Debt Ceiling from 200 million DAI to 150 million DAI.
- Reduce the WSTETH-B Maximum Debt Ceiling from 150 million DAI to 100 million DAI.
- Reduce the YFI-A Maximum Debt Ceiling from 50 million DAI to 25 million DAI.
- Reduce the MATIC-A Maximum Debt Ceiling from 35 million DAI to 20 million DAI.
Target Available Debt (gap) changes
- Increase the UNIV2DAIUSDC-A Target Available Debt from 10 million DAI to 20 million DAI.
- Reduce the MATIC-A Target Available Debt from 10 million DAI to 5 million DAI.
Review
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.
Resources
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.