Out-of-Schedule Executive Vote - Risk Parameter Changes - February 18, 2025
The Governance Facilitators, Dewiz, and Sidestream have placed an out-of-schedule executive proposal into the voting system in accordance with Atlas A.1.8.1.5. MKR/SKY Holders should vote for this proposal if they support the following alterations to the Sky Protocol.
If you are new to voting in the Sky Protocol, please see the voting guide to learn how voting works.
Executive Summary
If this executive proposal passes, out of an abundance of caution, in order to protect the Sky Protocol from potential governance attacks, the following actions will occur within the Sky Protocol:
- Risk parameters for LSE-MKR-A will be adjusted as detailed below
- The GSM Pause Delay will be reduced as detailed below
Voting for this executive proposal will place your MKR/SKY in support of the actions outlined above.
Unless otherwise noted, the actions 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 Sky Protocol after the GSM Pause Delay has expired. The GSM Pause Delay is currently set to 30 hours.
If this executive proposal does not pass within 30 days, then it will expire and can no longer have any effect on the Sky Protocol.
Proposal Details
LSE-MKR-A Risk Parameter Changes
If this executive proposal passes, then LSE-MKR-A risk parameters will be updated as follows:
- Increase the LSE-MKR-A Maximum Debt Ceiling (
line) by 25 million USDS from 20 million USDS to 45 million USDS. - Increase the LSE-MKR-A Target Available Debt (
gap) by 40 million USDS from 5 million USDS to 45 million USDS. - Decrease the LSE-MKR-A Ceiling Increase Cooldown (
ttl) by 15.5 hours from 16 hours to 30 minutes. - Increase the LSE-MKR-A Stability Fee by 8 percentage points from 12% to 20%.
- Decrease the LSE-MKR-A Liquidation Ratio by 75 percentage points from 200% to 125%.
- Decrease the LSE-MKR-A Exit Fee by 5 percentage points from 5% to 0%.
GSM Pause Delay Reduction
If this executive proposal passes, then the GSM Pause Delay will be adjusted as follows:
- Reduce the GSM Pause Delay by 12 hours from 30 hours to 18 hours.
Review
Community debate on these topics can be found on the Sky Governance forum. Please review any linked threads to inform your position before voting.
Resources
Additional information about the Governance process can be found in the Operational Manual.
To add current and upcoming votes to your calendar, please see the Sky Governance Calendar.