The Governance Facilitators have placed a Governance Poll into the voting system which presents a number of possible Liquidation Ratio options for the USDC-A and PAX-A Vault types. Voters are now able to signal their support for a USDC-A and PAX-A Liquidation Ratio within a range of 105% to 101%.

Note that this poll is a result of both a recent signal request and emergency action.

This weekly Governance Poll (FAQ) will be active for three days beginning on Monday, September 14 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, September 18 at 16:00 UTC.

Review

The signal request for reducing the USDC-A Liquidation Ratio can be found here along with the results.

For additional context, please see the following emergency signal request and the subsequent expedited executive vote.

Please review the discussion on the linked threads to inform your position before voting.

Next Steps

If the expedited executive vote posted on Monday, September 14 passes, then the options of 105% and 104% will not lead to any further action regardless of this poll's outcome because this could result in unbacked DAI.

Given the above caveat, on the Friday following the conclusion of the poll, there will be an Executive Vote asking MKR token holders if they support or reject the change proposed by this Governance Poll.

If the Friday executive passes, then this rate change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Resources

If you are new to voting in the Maker Protocol, please see the voter onboarding guide to learn how to use this dashboard and set up your wallet to vote.

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