Posted Aug 16 2021 16:00 UTC | Poll ID 619

Onboarding PAX Peg Stability Module - August 16, 2021

Collateral Onboarding
Risk Parameter
Peg Stability Module
Forum Discussion

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Growth Core Unit. This Governance Poll will be active for three days beginning on Monday, August 16 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'.


This poll is constructed to match the proposal negotiated with the Growth Core Unit with Paxos. This proposal is described here.

The community can vote in this poll to express support or opposition to the following:

  • Increasing the PSM-USDC-A Fee In (tin) from 0.1% to 0.2%.
  • Onboarding and deployment of a new PAX Peg Stability Module with the parameters given below.

Proposed PAX PSM Parameters

  • Fee In (tin): 0.1%
  • Fee Out (tout): 0%
  • Debt Ceiling (line): 500 million DAI.

To read more about these parameters, visit the PSM page on the MakerDAO Community Portal.

Please review the following threads to help inform your position before voting:


If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • PSM-PAX-A will be onboarded in a future executive vote as the Protocol Engineering Core Unit's schedule allows.
  • It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.
  • If the executive vote 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.


You can read more about the Peg Stability Module and its parameters on MIP29: The Peg Stability Module.

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.

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