The Governance Facilitators have placed a Governance Poll into the voting system on behalf of Spark Protocol and the Ecosystem Facilitators. This Governance Poll will be active for three days beginning on Monday, April 21 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 updating the USDS Interest Rate Model as follows:

• Base rate: Set to SSR value.
• Slope 1: Increase by 0.75 percentage points from 0% to 0.75%.
• Slope 2: Reduce by 5 percentage points from 20% to 15%.
• Optimal utilization: Reduce by 15 percentage points from 95% to 80%.

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 update the USDS Interest Rate Model on Sparklend Ethereum as described above.
• This change will be included 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 the Sky 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

If you are new to voting in the Sky Protocol, please see the voting guide to learn how voting works.

Additional information about the Governance process can be found in the Operational Manual.

To add current and upcoming votes to your calendar, please see the Governance Calendar.