Decrease the Stablecoin Vault Debt Ceilings - February 22, 2021
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Governance Community. This Governance Poll will be active for three days beginning on Monday, February 22 at 16:00 UTC.
This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should abstain.
MKR Token Holders may vote in this poll to express support or opposition to adjusting the stablecoin vault types Debt Ceilings. This includes the following changes:
- Decrease the USDC-A debt ceiling from 555 million DAI to zero DAI.
- Decrease the PAXUSD-A debt ceiling from 100 million DAI to zero DAI.
- Decrease the GUSD-A debt ceiling from 5 million DAI to zero DAI.
- Decrease the USDT-A debt ceiling from 2.5 million DAI to zero DAI.
Please review the discussion thread to inform your position on this issue before voting.
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- These parameter changes will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
- If the Friday executive passes, then this parameter change 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.
Unsure about the Debt Ceiling parameter and what you should take into account when voting? Check out the parameter documentation here.
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.