The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Community. This Governance Poll will be active for three days beginning on Monday, September 13 at 16:00 UTC.

This is a binary vote.

• You may vote for a single option.
• You should vote for the option which you prefer.
• If you would accept either option, you should vote 'Abstain'.

Review

The community can vote in this poll to express support or opposition to the following changes:

• Lower the KNC-A Liquidation Penalty (chop) from 13% to 0%.
• Use the lerp module to increase the Liquidation Ratio from 175% to 5,000% over 2 months.

Please review the discussion thread to help 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:

• These changes to offboard the KNC Legacy Token will be included in a future executive vote as the Protocol Engineering Core Unit'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 Friday executive passes, then this change 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.

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 17:00 UTC.

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