Update rETH Onboarding Parameters - September 26, 2022
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Risk Core Unit. This Governance Poll will be active for three days beginning on Monday, September 26 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'.
The community can vote in this poll to express support or opposition to the following changes:
- Decrease Stability Fee by 0.75%, from 2.25% to 1.5%.
- Decrease Auction Price Multiplier (
buf) by 0.1, from 1.2 to 1.1.
- Increase Max Auction Drawdown (
cusp) by 0.05, from 0.4 to 0.45.
- Decrease Max Auction Duration (
tail) by 20 minutes, from 140 minutes (8,400 seconds) to 120 minutes (7,200 seconds).
- Decrease Flat Kick Incentive (
tip) by 50 DAI, from 300 DAI to 250 DAI.
All other parameters will remain as proposed in the original onboarding vote.
Please review the discussion thread to help inform your position before voting.
Governance Facilitator's Note: this is not a "re-run" of the rETH onboarding vote, but a poll to approve the new parameters proposed by the Risk Core Unit. If the new parameters are rejected, onboarding will continue with the originally approved parameters. This does not change the projected date for Executive Vote inclusion of mid-October - as per the Collateral Status Index.
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- These new parameters will be included when rETH is onboarded to the Maker Protocol.
- 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 the originally approved parameters will be used when onboarding rETH to the Maker Protocol.
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.