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 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

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 2.5% to 2.25%.
• Decrease the ETH-B Stability Fee from 6.5% to 4%.
• Decrease the WSTETH-A Stability Fee from 3% to 2.5%.
• Decrease the WBTC-A Stability Fee from 4% to 3.75%.
• Decrease the WBTC-B Stability Fee from 7% to 5%.
• Decrease the WBTC-C Stability Fee from 1.5% to 0.75%.
• Decrease the UNIV2DAIETH-A Stability Fee from 2% to 1%.
• Decrease the UNIV2WBTCETH-A Stability Fee from 3% to 2%.
• Decrease the UNIV2USDCETH-A Stability Fee from 2.5% to 1.5%.
• Decrease the GUNIV3DAIUSDC2-A Stability Fee from 0.5% to 0.25%.
• Decrease the TUSD-A Stability Fee from 1% to 0%.

DIRECT-AAVEV2-DAI (Aave D3M) Target Borrow Rate Decrease

• Decrease the DIRECT-AAVEV2-DAI Target Borrow Rate from 3.75% to 3.5%.

Maximum Debt Ceiling Changes

• Decrease the GUNIV3DAIUSDC1-A Maximum Debt Ceiling from 500 million DAI to 100 million DAI.
• Increase the GUNIV3DAIUSDC2-A Maximum Debt Ceiling from 500 million DAI to 750 million DAI.

GUNIV3DAIUSDC2-A Target Available Debt Increase

• Increase the GUNIV3DAIUSDC2-A Target Available Debt (gap) from 10 million DAI to 50 million DAI.

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.