Add YFI as a Collateral Type - October 12, 2020
The MakerDAO governance facilitator has placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This poll allows the MakerDAO governance community to signal their support or opposition to adding YFI (yearn.finance) as a collateral type in the Maker Protocol.
The proposed initial system parameters for YFI are:
- Stability Fee: 4%
- Liquidation Ratio: 175%
- Debt Ceiling:7 million
- Auction Lot Size: 50,000 DAI
- Minimum Bid Increment: 3%
- Bid Duration: 6 hours
- Max Auction Duration: 6 hours
- Liquidation Penalty: 13%
- Dust: 100 DAI
This Governance Poll (FAQ) will be active for 3 days beginning on Monday, October 12 at 16:00 UTC.
Please review the following forum threads containing information about YFI (yearn.finance) to inform your position before voting.
If this proposal passes, YFI (yearn.finance) will be included in a future executive vote as the Smart Contracts domain team's schedule allows. It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.
If this proposal fails to pass, YFI (yearn.finance) will not be added to the Maker Protocol 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 16:00 UTC.
To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.