The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This Governance Poll will be active for three days beginning on Monday, April 5 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 vote 'Abstain'.

Review

This poll allows the MakerDAO Community to signal their support or opposition to adding LINK-A to the Liquidations 2.0 Framework with the parameters below:

Auction Price

• Auction Price Function (calc): Stairstep Exponential
  • Price Change Multiplier (cut): 0.99
  • Price Change Interval (step): 90 seconds
• Auction Price Multiplier (buf): 1.3

Limits

• Local Liquidation Limit (ilk.hole): 6 million DAI
• Maximum Auction Drawdown (cusp): 0.4
• Maximum Auction Duration (tail): 8,400 seconds
• Breaker Price Tolerance (tolerance): 0.5

Incentives

• Proportional Kick Incentive (chip): 0.1%
• Flat Kick Incentive (tip): 0 DAI

Global Parameters
Because this is the first vault type using liquidations 2.0, the Global Liquidation Limit will also be set:

• Global Liquidation Limit (Hole): 100 million DAI

Please review the following Risk Evaluation containing information about these proposed parameters to inform your position before voting.

Outcomes

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

• LINK-A will be added to the Liquidations 2.0 System by a future executive vote as the Smart Contracts Team schedule allows.
• It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.
• If the executive vote passes, then these changes will become active in the Maker Protocol after the GSM Pause Delay has expired.

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

For more information on parameter effects, consider viewing the Gauntlet Audit of the Liquidations 2.0 System.

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 17:00 UTC.

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