Adjust FLAP Auction Parameters - January 11, 2021
The Governance Facilitator(s) have placed a Governance Poll into the voting system on behalf of the Risk Domain Team. This Governance Poll will be active for three days beginning on Monday, January 11 at 16:00 UTC.
This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should vote 'Abstain'.
FLAP auctions refer to the Maker Protocol's System Surplus auctions. These auctions sell off DAI revenue from Stability Fees and Liquidation Fees in exchange for MKR which is then burned.
The community can vote in this poll to express support or opposition to the following changes:
- Increase the Minimum Bid Increase (
beg) for FLAP auctions from 2% to 4%.
- Increase the Bid Duration (
ttl) for FLAP auctions from 30 minutes to 60 minutes.
Please review the discussion thread to help inform your position before voting.
More information on these parameters can be found here.
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- These 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.
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.