Raise the ESM Minimum Threshold, MKR Vesting, Adjust the lid Parameter on the Rate-limited Flapper - May 25, 2022

Spell Address

MKR Support

Supporters

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:

  • The Emergency Shutdown Module (ESM) Minimum Threshold (min) will be increased from 100,000 MKR to 150,000 MKR.
  • 599.6553 MKR will be distributed to multiple Core Units, as detailed further down.
  • The lid parameter will be adjusted on the Rate-limited Flapper, as detailed further down.

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

ESM Minimum Threshold Increase

As per this Governance Poll, the ESM Minimum Threshold (min) -i.e., the minimum MKR amount required for triggering an Emergency Shutdown- will be increased as follows if this executive proposal passes:

  • From 100,000 MKR to 150,000 MKR.

For further information, please read the originating Signal Request.

Core Unit MKR Vesting Transfers

Development and UX Core Unit (DUX-001)

As per their successful MKR budget proposal, a total of 355.86 MKR will be transferred to the Development and UX Core Unit (DUX-001) at 0x5A994D8428CCEbCC153863CCdA9D2Be6352f89ad if this executive proposal passes.

Sidestream Auction Services Core Unit (SAS-001)

As per their successful MKR budget proposal, a total of 243.7953 MKR will be transferred to the Sidestream Auction Services Core Unit (SAS-001) at 0xb1f950a51516a697E103aaa69E152d839182f6Fe if this executive proposal passes.

lid Parameter Adjustment of the Rate-limited Flapper

As per this Governance Poll, the lid parameter (which sets the total value of DAI allowed to be sent out to surplus (flap) auctions at once) will be adjusted as follows if this executive proposal passes:

  • From 150,000 DAI to 30,000 DAI, effectively reducing the amount of parallel flap auctions from five to one.

For further information please read the originating Signal Request.

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.

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