Parameter Changes Proposal - MakerDAO Open Market Committee - April 12, 2021
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Open Market Committee. This Governance Poll will be active for three days beginning on Monday, April 12 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
MKR Token Holders may vote in this poll to express support or opposition to the following changes on Stability Fee, Debt Ceiling, Maximum Debt Ceiling, Target Available Debt and Ceiling Increase Cooldown:
Parameter Changes by Type
Stability Fee Increases
| Vault Type | Old | New | Change |
|---|---|---|---|
| LINK-A | 3.50% | 5.00% | 1.50% |
| ETH-B | 9.00% | 10.00% | 1.00% |
| ZRX-A | 2.00% | 4.00% | 2.00% |
| LRC-A | 3.00% | 4.00% | 1.00% |
| UNIV2DAIETH-A | 3.00% | 3.50% | 0.50% |
| UNIV2USDCETH-A | 3.50% | 4.50% | 1.00% |
Stability Fee Decreases
| Vault Type | Old | New | Change |
|---|---|---|---|
| AAVE-A | 4.00% | 3.00% | -1.00% |
| BAT-A | 6.00% | 5.00% | -1.00% |
| MANA-A | 4.00% | 3.00% | -1.00% |
| BAL-A | 3.50% | 2.00% | -1.50% |
| UNIV2DAIUSDC-A | 3.00% | 1.00% | -2.00% |
| UNIV2LINKETH-A | 5.00% | 4.00% | -1.00% |
| UNIV2WBTCDAI-A | 2.00% | 0.00% | -2.00% |
| UNIV2AAVEETH-A | 5.00% | 4.00% | -1.00% |
| UNIV2DAIUSDT-A | 4.00% | 3.00% | -1.00% |
Debt Ceiling Increases
| Vault Type | Old | New | Change |
|---|---|---|---|
| YFI-A | 75,000,000 | 90,000,000 | 15,000,000 |
| AAVE-A | 25,000,000 | 50,000,000 | 25,000,000 |
| BAT-A | 3,000,000 | 7,000,000 | 4,000,000 |
| RENBTC-A | 2,000,000 | 10,000,000 | 8,000,000 |
| MANA-A | 2,000,000 | 5,000,000 | 3,000,000 |
| BAL-A | 5,000,000 | 30,000,000 | 25,000,000 |
| UNIV2DAIETH-A | 30,000,000 | 50,000,000 | 20,000,000 |
Debt Ceiling Decreases
| Vault Type | Old | New | Change |
|---|---|---|---|
| LRC-A | 10,000,000 | 5,000,000 | -5,000,000 |
| USDT-A | 2,500,000 | 0 | -2,500,000 |
Target Available Debt (gap) Changes
| Vault Type | Old | New | Change |
|---|---|---|---|
| AAVE-A | 2,000,000 | 5,000,000 | 3,000,000 |
| RENBTC-A | 500,000 | 1,000,000 | 500,000 |
| MANA-A | 500,000 | 1,000,000 | 500,000 |
| BAL-A | 1,000,000 | 3,000,000 | 2,000,000 |
| LRC-A | 2,000,000 | 1,000,000 | -1,000,000 |
Debt Ceiling Instant Access Module Activations
Activate UNIV2WBTCETH-A DC-IAM with:
- Maximum Debt Ceiling of 20 MM
- Target Available Debt of 3 MM
- Ceiling Increase Cooldown of 12 h
Activate UNIV2UNIETH-A DC-IAM with:
- Maximum Debt Ceiling of 20 MM
- Target Available Debt of 3 MM
- Ceiling Increase Cooldown of 12 h
Activate UNIV2LINKETH-A DC-IAM with:
- Maximum Debt Ceiling of 20 MM
- Target Available Debt of 2 MM
- Ceiling Increase Cooldown of 12 h
Activate UNIV2AAVEETH-A DC-IAM with:
- Maximum Debt Ceiling of 20 MM
- Target Available Debt of 2 MM
- Ceiling Increase Cooldown of 12 h
Activate UNIV2ETHUSDT-A DC-IAM with:
- Maximum Debt Ceiling of 10 MM
- Target Available Debt of 2 MM
- Ceiling Increase Cooldown of 12 h
Activate UNIV2DAIUSDT-A DC-IAM with:
- Maximum Debt Ceiling of 10 MM
- Target Available Debt of 2 MM
- Ceiling Increase Cooldown of 12 h
Activate UNIV2WBTCDAI-A DC-IAM with:
- Maximum Debt Ceiling of 20 MM
- Target Available Debt of 3 MM
- Ceiling Increase Cooldown of 12 h
Please review the proposal 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 parameter changes will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
- If the Friday executive 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.
Resources
Unsure about the Parameter Changes and what you should take into account when voting? Check out the parameter documentation on Stability Fee, Debt Ceiling and DC-IAM.
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.