The MakerDAO governance facilitator has placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This poll allows the MakerDAO governance community to signal their support or opposition to adding renBTC as a collateral type in the Maker Protocol.

This Governance Poll will be active for three days beginning on Monday, November 30 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should abstain.

Review

The proposed initial system parameters for renBTC are:

• Stability Fee: 6%
• Liquidation Ratio: 175%
• Debt Ceiling: 2 million DAI
• Auction Lot Size: 50,000 DAI
• Minimum Bid Increment: 3%
• Bid Duration: 6 hours
• Max Auction Duration: 6 hours
• Liquidation Penalty: 13%
• Dust: 500 DAI

Note that the Dust parameter has been brought into line with the other collateral types after the success of this Executive Vote.

Please review the following forum threads containing information about renBTC to inform your position before voting.

• Initial Collateral Application
• Risk Evaluation
• Smart Contracts Evaluation
• Oracles Evaluation

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

• renBTC will be included in a future executive vote as the Smart Contracts domain team's schedule allows.
• It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

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Resources

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.

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 16:00 UTC.

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