The Governance Facilitators have placed a Governance Poll into the voting system on behalf of Spark Protocol and the Stability Facilitators. This Governance Poll will be active for three days beginning on Monday, May 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

This poll allows the MakerDAO governance community to signal their support or opposition to adding rETH (Rocket Pool ETH) to Spark Protocol with the parameters below:

Spark Parameters

• Token: rETH.
• Token Address: 0xae78736cd615f374d3085123a210448e74fc6393.
• Oracle: 0x05225Cd708bCa9253789C1374e4337a019e99D56.
• Oracle Provider: Chainlink.
• Borrow Enabled: Yes.
• Optimal Usage Ratio: 45%.
• Base Borrow: 0%.
• Slope 1: 7%.
• Slope 2: 300%.
• Collateral Enabled: Yes.
• Isolation Mode Enabled: No.
• Loan To Value: 68.50%.
• Liquidation Threshold: 79.50%.
• Liquidation Bonus: 7%.
• Liquidation Protocol Fee: 10%.
• Reserve Factor: 15%.
• Supply Cap: 20,000 rETH.
• Borrow Cap: 2,400 rETH.
• Flashloanable: Yes.
• E-Mode: ETH Category.

ETH Category E-Mode Parameters

The ETH Category E-mode configuration was set at the time of Spark Protocol's deployment. The parameters are listed here for informational purposes.

• LTV: 90%.
• Liquidation Threshold: 93%.
• Liquidation Bonus: 1%.

Please review the proposal thread for more information about this proposed onboarding.

Outcomes

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

• rETH (Rocket Pool ETH) will be onboarded to Spark Protocol in an upcoming Executive Vote.
• 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 Spark 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.

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.