The Governance Facilitators have placed a Governance Poll into the voting system on behalf of Spark Protocol and the Stability Facilitators. This Governance Poll will be active for three days beginning on Tuesday, April 9 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

This poll allows the MakerDAO governance community to signal their support or opposition to adding USDT (Tether USDT) to SparkLend on Gnosis with the parameters below:

Spark Parameters

• Token: USDT
• Token Address: 0x4ECaBa5870353805a9F068101A40E0f32ed605C6
• Oracle: 1:1 USD Fixed
• Oracle Provider: N/A
• Borrow Enabled: Yes
• Base borrow rate: 0%
• Optimal borrow rate: 12%
• Max borrow rate: 62%
• Optimal Utilization: 90%
• Reserve factor: 10%
• Borrowable in isolation mode: Yes
• Siloed borrowing: Yes
• Collateral Enabled: No
• Efficency Mode: N/A
• Isolation Mode Enabled: N/A
• Isolation Mode Debt Ceiling: N/A
• Supply cap: 10,000,000 USDT
• Borrow cap: 8,000,000 USDT

Please review the proposal thread for more information about this proposed onboarding.

A risk evaluation has been provided by BA Labs and can be found here.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

• USDT (Tether USDT) will be onboarded to SparkLend Gnosis via a future executive vote.
• 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 SparkLend 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.

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Resources

Further information about Spark Protocol can be found at its Documentation Hub.

If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works.

Additional information about the Governance process can be found in the Maker Operational Manual.

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