The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Stability Facilitators. This Governance Poll will be active for three days beginning on Monday, July 29 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'.

Review

The community can vote in this poll to express support or opposition to activating the Lido Liquid Staking (LST) yield oracle and the linked Interest Rate Model (IRM) for the ETH market on SparkLend with the following parameters:

• base rate: 0%
• variableRateSlope1Spread: 0%
• CappedFallbackRateSource upperBound: 5.5%
• CappedFallbackRateSource lowerBound: 2%
• CappedFallbackRateSource defaultRate: 3%
• slope 2: 120%

The following contracts will be used:

• Chronicle LST Oracle: 0x08669C836F41AEaD03e3EF81a59f3b8e72EC417A
• Rate Range Enforcement: sparklend-advanced/src/CappedFallbackRateSource.sol at master · marsfoundation/sparklend-advanced · GitHub
• IRM: sparklend-advanced/src/RateTargetKinkInterestRateStrategy.sol at master · marsfoundation/sparklend-advanced · GitHub

Please review the discussion thread to help inform your position before voting.

Outcomes

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 activate the Lido LST yield oracle and the linked IRM with the parameters as stated above.
• 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 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.

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Resources

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.