SparkLend Ethereum and Base - Activate Spark Liquidity Layer - November 4, 2024
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, November 4 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 Spark Liquidity Layer on Sparklend Ethereum and Base with the parameters below.
Onchain Parameters
Ethereum
| Parameter | Max amount (tokens) | Slope (tokens/day) |
|---|---|---|
| LIMIT_USDS_MINT | 4,000,000 | 2,000,000 |
| LIMIT_USDC_TO_CCTP_ETH | max. | 0 |
| LIMIT_USDS_TO_USDC | 4,000,000 | 2,000,000 |
| LIMIT_USDC_TO_DOMAIN (to Base) | 4,000,000 | 2,000,000 |
Base
| Parameter | Max amount (tokens) | Slope (tokens/day) |
|---|---|---|
| LIMIT_PSM_DEPOSIT_USDC | 4,000,000 | 2,000,000 |
| LIMIT_PSM_WITHDRAW_USDC | 7,000,000 | 2,000,000 |
| LIMIT_PSM_DEPOSIT_USDS | 5,000,000 | 2,000,000 |
| LIMIT_PSM_WITHDRAW_USDS | max. | 0 |
| LIMIT_PSM_DEPOSIT_SUSDS | 8,000,000 | 2,000,000 |
| LIMIT_PSM_WITHDRAW_SUSDS | max. | 0 |
| LIMIT_USDC_TO_DOMAIN (to mainnet) | 4,000,000 | 2,000,000 |
| LIMIT_USDC_TO_CCTP_BASE | max. | 0 |
Offchain Parameters
| Parameter | Value (tokens) |
|---|---|
| MAINNET_MIN_OPERATION_SIZE | 400,000 |
| BASE_MIN_OPERATION_SIZE | 400,000 |
| DEBT_CEILING_BUFFER | 10,000 |
| USDC_MIN_BALANCE_BASE | 800,000 |
| USDC_OPTIMAL_BALANCE_BASE | 800,000 |
| USDC_MAX_BALANCE_BASE | 800,000 |
Please review the discussion thread to help inform your position before voting.
For more information about the activation process and these parameters, please read the Spark ALM Planner Parameter Study forum post published by BA Labs.
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 facilitate preparation of a Spark spell to activate the Spark Liquidity Layer on Ethereum and Base with the parameters listed 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.
Resources
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.