The Governance Facilitators and Sidestream, Dewiz, and Phoenix Labs 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.

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Executive Summary

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

• The Dai Savings Rate will be increased.
• Multiple Stability Fees will be increased.
• The GSM Delay will be decreased.
• The throughput of the USDC PSM will be improved by decreasing the ttl.
• A proxy spell for Spark Protocol will be triggered.

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.

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Proposal Details

Dai Savings Rate (DSR) Increase

• Authorization: Forum post
• Proposal: Forum post

If this executive proposal passes the Dai Savings Rate will change as follows:

• Increase the DSR by 10% from 5% to 15%.

Stability Fee Changes

• Authorization: Forum post
• Proposal: Forum post

If this executive proposal passes the following Stability Fee changes will be made:

• Increase the ETH-A Stability Fee by 8.84% from 6.41% to 15.25%.
• Increase the ETH-B Stability Fee by 8.84% from 6.91% to 15.75%.
• Increase the ETH-C Stability Fee by 8.84% from 6.16% to 15%.
• Increase the WSTETH-A Stability Fee by 9.6% from 6.65% to 16.25%.
• Increase the WSTETH-B Stability Fee by 9.6% from 6.4% to 16%.
• Increase the WBTC-A Stability Fee by 10.07% from 6.68% to 16.75%.
• Increase the WBTC-B Stability Fee by 10.07% from 7.18% to 17.25%.
• Increase the WBTC-C Stability Fee by 10.07% from 6.43% to 16.5%.

GSM Delay Change

• Authorization: Forum post
• Proposal: Forum post

If this executive proposal passes the following change to the GSM Delay will be made:

• Decrease the GSM Delay by 32 hours from 48 hours to 16 hours.

USDC PSM Ceiling Increase Cooldown (ttl) Change

• Authorization: Forum post
• Proposal: Forum post

If this executive proposal passes the following change to the USDC PSM ttl will be made:

• Decrease the USDC-PSM-A ttl by 12 hours from 24 hours to 12 hours.

Trigger Spark Proxy Spell

• Authorization: Forum post
• Proposal: Forum post

If this executive proposal passes a Spark proxy spell at 0xFc72De9b361dB85F1d126De9cac51A1aEe8Ce126. This proxy spell will take the following action:

• Change the Dai Interest Rate Strategy to increase the Dai Borrow Rate to 16%.

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.

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Resources

Additional information about the Governance process can be found in the Maker Operational Manual.

To add current and upcoming votes to your calendar, please see the MakerDAO Governance Calendar.