Add ETH-C as a new Vault Type - March 1, 2021
The MakerDAO governance facilitator has 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, March 1 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.
This poll allows the MakerDAO governance community to signal their support or opposition to adding ETH-C as a new vault type in the Maker Protocol with the parameters below:
- Underlying Collateral: Ether (ETH)
- Stability Fee: 3.5%
- Liquidation Ratio: 175%
- Maximum Debt Ceiling: 2 billion DAI
- Target Available Debt: 100 million DAI
- Ceiling Increase Cooldown: 12 hours
- Auction Lot Size: 50,000 DAI
- Minimum Bid Increment: 3%
- Bid Duration: 4 hours
- Max Auction Duration: 4 hours
- Liquidation Penalty: 13%
- Debt Floor: 2,000 DAI
Please review the following forum threads containing information about ETH-C and the underlying collateral Ether (ETH) to inform your position before voting.
Note that there is no oracle or smart contract evaluation for this vault type due to the previous use of Ether (ETH) as collateral in the ETH-A and ETH-B vault types.
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- ETH-C will be onboarded 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 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.
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.