The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Open Market Committee. This Governance Poll will be active for three days beginning on Monday, January 17 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

MKR Token Holders may vote in this poll to express support or opposition to the following parameter changes:

Stability Fee Decreases

• Decrease the ETH-A Stability Fee from 2.75% to 2.5%.
• Decrease the WSTETH-A Stability Fee from 4% to 3%.

Debt Ceiling Decreases

• Decrease the LINK-A Maximum Debt Ceiling from 140 million DAI to 100 million DAI.
• Decrease the YFI-A Maximum Debt Ceiling from 130 million DAI to 50 million DAI.
• Decrease the UNI-A Maximum Debt Ceiling from 50 million DAI to 25 million DAI.
• Decrease the UNIV2UNIETH-A Maximum Debt Ceiling from 20 million DAI to 5 million DAI.
• Decrease the GUSD-A Debt Ceiling from 5 million DAI to zero DAI.

DIRECT-AAVEV2-DAI (Aave D3M) Changes

• Decrease the DIRECT-AAVEV2-DAI Target Borrow Rate from 3.9% to 3.75%.
• Increase the DIRECT-AAVEV2-DAI Target Available Debt from 15 million DAI to 50 million DAI.
• Increase the DIRECT-AAVEV2-DAI Maximum Debt Ceiling from 100 million DAI to 220 million DAI.

GUNIV3DAIUSDC2-A Changes

• Increase the GUNIV3DAIUSDC2-A Maximum Debt Ceiling from 10 million DAI to 500 million DAI.
• Decrease the GUNIV3DAIUSDC2-A Stability Fee from 1% to 0.5%.

Please review the proposal 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:

• These parameter 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.

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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.