Adjust FLAP Auction Parameters - July 12, 2021
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Community. This Governance Poll will be active for three days beginning on Monday, July 12 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'.
FLAP auctions refer to the Maker Protocol's System Surplus Auctions. These auctions sell off DAI revenue from Stability Fees and Liquidation Fees in exchange for MKR which is then burned.
The community can vote in this poll to express support or opposition to the following change:
- Decrease the Bid Duration (
ttl) for FLAP auctions from 60 minutes to 30 minutes.
Please review the discussion thread to help inform your position before voting.
More information on these parameters can be found here.
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- These 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.
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.