The Governance Facilitator(s), the Collateral Engineering Services Core Unit, 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.

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Executive Summary

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

• The Maximum Debt Ceiling (line), Target Available Debt (gap), and doc parameters for RWA-007-A (Monetalis Clydesdale) will be updated, as detailed below.
• The Maximum Debt Ceiling (line), Target Available Debt (gap), and Ceiling Increase Cooldown (ttl) for rETH-A will be updated, as detailed below.
• Housekeeping updates to the doc parameters for RWA-008-A and RWA-009-A.
• Housekeeping updates to the chainlog.

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.

This executive proposal includes an office-hours modifier that means that it can only be executed between 14:00 and 21:00 UTC, Monday - Friday. This is to ensure that at least some auction keepers are available to react to unforeseen issues with their bots in the event of early liquidations on new collateral types.

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

RWA-007-A Parameter Changes

As per this forum post from Collateral Engineering Services Core Unit (CES-001) Facilitator @monkey.irish, the following changes will be made to the RWA-007-A (Monetalis Clydesdale) vault type, if this proposal passes:

• The Maximum Debt Ceiling (line) will be increased by 250 million DAI from 250 million DAI to 500 million DAI.
• The Target Available Debt (gap) will be increased by 50 million DAI from 50 million DAI to 100 million DAI.
• The doc parameter for RWA-007-A will be updated to QmejL1CKKN5vCwp9QD1gebnnAM2MJSt9XbF64uy4ptkJtR - IPFS Link - to reflect the most recent instuctions that can be found here.

The forum post outlines the rationale for using this approach rather than the initially planned two-vault structure for the MIP65 implementation.

RETH-A Parameter Changes

Now that Maker's rETH oracles have reached quorum, the following parameter changes that were approved in the rETH-A onboarding poll will be made to the rETH-A vault type, if this proposal passes:

• The Maximum Debt Ceiling (line) will be set to 5 million DAI.
• The Target Available Debt (gap) will be set to 3 million DAI.
• The Ceiling Increase Cooldown (ttl) will be set to 8 hours.

doc Variable Housekeeping Updates for RWA Vaults

As per this forum post from Collateral Engineering Services Core Unit (CES-001) Facilitator @monkey.irish, the following changes will be made to the RWA-008-A (SocGen) and RWA-009-A (HVBank) vault types, if this proposal passes:

• Update the RWA-008-A doc from QmdfzY6p5EpkYMN8wcomF2a1GsJbhkPiRQVRYSPfS4NZtB to QmZ4heYjptvj3ovafADJpXYMFXMyY3yQjkTXpvjFPnAKcy - IPFS Link.
• Update the RWA-009-A doc from QmQx3bMtjncka2jUsGwKu7ButuPJFn9yDEEvpg9xZ71ECh to QmeRrbDF8MVPQfNe83gWf2qV48jApVigm1WyjEtDXCZ5rT - IPFS Link.

Chainlog Housekeeping Changes

As per this forum post from Collateral Engineering Services Core Unit (CES-001) Facilitator @monkey.irish, the following changes will be made to the chainlog, if this proposal passes:

• Change RWA007_A_INPUT_CONDUIT_URN to RWA007_A_INPUT_CONDUIT.
• Change RWAXXX_A_INPUT_CONDUIT_JAR to RWAXXX_A_JAR_INPUT_CONDUIT.

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.

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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.