The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Community. This Governance Poll will be active for three days beginning on Monday, March 22 at 16:00 UTC.

This is an instant-runoff vote. In an instant-runoff vote, you may rank any number of options in the order of preference. As a general rule, you should rank every option you would be willing to vote for if it was included in an executive vote. By failing to rank an option you signal that you are not willing to vote for it in an executive vote. Alternatively, if you would accept any of the listed options and have no preference as to which, you should vote 'Abstain' as your first choice and rank no other choices.

Review

FLAP auctions refer to the Maker Protocol's System Surplus auctions. These auctions sell off DAI revenue from Stability Fees and Liquidation Fees in exchange for MKR which is then burned.

The community can vote in this poll to rank their support of the following options for modifying bump parameter:

• Leave the bump parameter unchanged at 10,000 DAI.
• Adjust the bump parameter from 10,000 DAI to 20,000 DAI.
• Adjust the bump parameter from 10,000 DAI to 30,000 DAI.

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

More information on the bump parameter can be found here.

Outcomes

If a non-'Abstain' option receives more votes than each other option (excluding 'Abstain') and the votes for that option exceed 50% of the total votes cast then that option is deemed the winner and the following actions will be taken:

• If the winner represents a change from the status quo, then change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
• If the Friday executive passes, then this change will become active in the Maker Protocol after the GSM Pause Delay has expired.

If no option has enough votes to exceed 50% of the total votes cast, then no further actions will be taken at this time.

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Resources

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.