The Goveranance 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

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

xDAI Interest Rate Model

• Collateral: Yes.
  • Decrease Max LTV from 70% to 0%.
  • Liquidation threshold: Unchanged at 75%.
  • Liquidation bonus: Unchanged at5%.
• Isolation mode: No.
• Efficiency mode: No.
• Borrowable: Yes.
  • Base borrow rate: Decrease Base borrow rate from 4.88% to 0%.
  • Optimal borrow rate: 12%.
  • Max borrow rate: 62%.
  • Optimal Utilization: 90%.
  • Reserve factor: 5%.
  • Borrowable in isolation mode: Yes
  • Siloed borrowing: No
• Supply cap: 20,000,000 xDAI
• Borrow cap: 16,000,000 xDAI

Supply Cap

• Decrease GNO supply cap from 200,000 GNO to 100,000 GNO.
• Increase wstETH supply cap from 10,000 wstETH to 15,000 wstETH.

Please review the discussion 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:

• This change will be included in an upcoming 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 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.

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.