The Governance Facilitators have placed a Governance Poll into the voting system on behalf of Spark Protocol and the Stability Scope Facilitator. This Governance Poll will be active for three days beginning on Monday, November 6 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'.
The SparkLend Ethereum DAI market already has Loan-to-Value (LTV) / Liquidation Threshold (LT) values set to 1bps. The proposal concerns reducing the LTV to zero percent (0%) to completely remove the ability to use the DAI market as collateral. It has no impact on utility as the sDAI market will continue to be available as a collateral asset.
Express your support or opposition to setting the DAI market Maximum Loan-to-Value (LTV) parameter to zero percent (0%) on SparkLend Ethereum.
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- Phoenix Labs will prepare a Spark spell to set the DAI market Maximum Loan-to-Value (LTV) parameter to zero percent on SparkLend Ethereum.
- An upcoming Executive Vote will include a proposal to execute the Spark spell.
- It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.
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.
Further information about Spark Protocol can be found at its Documentation Hub.
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.