The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Community. This Governance Poll will be active for three days beginning on Monday, October 31 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

The community can vote in this poll to express support or opposition to the following changes:

• Activate liquidations on stablecoin Vault Types.

The currently active stablecoin Vault Types in the Maker Protocol are:

• USDC-A (USDC)
• PAXUSD-A (USDP)
• GUSD-A (GUSD)

Please review the discussion thread to help inform your position before voting.

Note: This is not an offboarding proposal but asks whether or not these Vault Types should have liquidations activated or not. Only Vaults below the Liquidation Ratio will be affected.

Outcomes

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

• GovAlpha will ask the Risk Core Unit to confirm liquidation parameters for stablecoin Vaults.
• This change will be included in an upcoming Executive Vote as the Protocol Engineering Core Unit'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.

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Resources

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.