The Maker Foundation Interim Governance Facilitator has placed a Governance Poll into the voting system which the community can use to signal their support for changing the structure of the weekly Stability Fee votes.

This Governance Poll (FAQ) will be active for three days beginning on Monday, May 18 at 16:00 UTC.

Review

This proposal was discussed in the forums. Please review to inform your position before voting.

A summary of the proposed changes:

1. Replace all weekly Stability Fee votes with a single, global Base Rate vote.
2. The individual Stability Fee parameters will be calculated by the formula Stability Fee = max(Base Rate + Risk Premium, 0%).
3. The Base Rate will be initialized to 0%. The Risk Premium of each collateral will be initialized to its Stability Fee.
4. The Risk Premium of any collateral type can be adjusted by initiating a governance poll.
5. The lowest value of Base Rate will either be 0% or no lower bound depending on the result of this poll. The implications of this are discussed in the thread.
6. The Dai Savings Rate Spread calculation will use the Base Rate to determine the Dai Savings Rate value in the same way it is currently offset from the Dai Stability Fee.

Next Steps

• If this proposal passes, the changes listed in Review will be made starting the week of May 25th, 2020.

Resources

Additional information about the Governance process can be found in the Governance Risk Framework: Governing MakerDAO

Demos, help and instructional material for the Governance Dashboard can be found at Awesome MakerDAO.

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.