The MakerDAO Risk Team has placed a Governance Poll into the voting system through which the community can signal their support to add USDT (Tether) as a collateral type.

The proposed initial Risk Parameters for USDT are:

• Risk Premium: 8%
• Liquidation Ratio: 150%
• Debt Ceiling: 10 million
• Auction Lot Size: 50,000
• Minimum Bid Increment: 3%
• Bid Duration: 6 hours
• Max Auction Duration: 6 hours
• Liquidation Penalty: 13%
• Dust: 100 Dai

This Governance Poll (FAQ) will be active for approximately 3 days beginning on Monday, August 24 at 4:00 PM UTC.

Review

Please review the risk evaluation forum thread, the smart contracts assessment, the oracle assessment, and the general governance discussion to inform your position before voting.

Next Steps

If this proposal passes, it will be included in the Executive Vote on Friday, September 4 asking MKR token holders if they support or reject the change.

Resources

If you are new to voting in the Maker Protocol, please see the voter onboarding guide to learn how to use this dashboard and set up your wallet to vote.

Additional information about the Governance process can be found in the Governance Risk Framework: Governing MakerDAO

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.