Add P1-DROP as a new RWA Vault Type - June 7, 2021
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This Governance Poll will be active for three days beginning on Monday, June 7 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 allows the MakerDAO governance community to signal their support or opposition to adding P1-DROP (Peoples Company Series 1 DROP Token) as a new vault type in the Maker Protocol with the parameters below:
- Stability Fee: 2%
- Debt Ceiling: 20 million DAI*
- Minimum Vault Collateralization Ratio: 100%
- Minimum SPV Collateralization Ratio: 142%
- Minimum Underlying Collateralization Ratio: 142%
- Liquidation Process: MIP22
Please review the following forum threads containing information about P1-DROP (Peoples Company Series 1 DROP Token) to inform your position before voting.
- Initial Collateral Application
- Real-World Finance Core Unit Risk Evaluation
- Protocol Engineering Core Unit Evaluation
- Oracles Team Evaluation
Initial debt ceiling will be zero DAI. A future executive will be submitted to raise the debt ceiling to 20 million DAI* after the creation of a suitable legal entity with an independent director or at the determination of the RWF Core Unit Facilitator.
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- P1-DROP (Peoples Company Series 1 DROP Token) will be onboarded in a future executive vote as the Protocol Engineering Core Unit's schedule allows, with a Debt Ceiling of 0 DAI.
- 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.
- A second future executive vote will raise the Debt Ceiling to 20 million DAI.
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.