What is Governance?

Governance is a process through which a group of stakeholders come to a decision on a particular change within their system or organization. Many centralized entities have expedited the governance process through the nomination of critical decision makers like board members and executives. In the context of MakerDAO, it is done through a voting system where anyone who owns MKR can vote on changes to the Risk Parameters within the Dai Credit System.

Executive Vote - Adjust Multiple Risk Parameters

The Maker Foundation Interim Governance Facilitator has placed an Executive Vote into the voting system, which will enable the community to approve the following alteration to the protocol:

• Lower the Sai Stability Fee 2% to 7.5%
• Lower the Dai Stability Fee 4% to 4%
• Keep the Dai Savings Rate Spread at 0%
  • Note: This will set the DSR to 4%
• Lower the Migration Contract Debt Ceiling 20M to 10M
• Lower the SCD debt ceiling 5M to 25M
• Lower the MCD debt ceiling 50M to 100M
• Set the Global MCD debt ceiling 113M
• Raise the Flip auction TTL from 10 minutes to 6 hours
• Raise the Flip auction lot size from 50 ETH to 500 ETH
• Lower the Flip auction maximum duration from 3 days to 6 hours
• Raise the Flop auction TTL from 10 minutes to 6 hours
• Raise the Debt Auction Delay from 48 hours to 6.5 days

The Executive Vote (FAQ) will continue until the number of votes surpass the total in favor of the previous Executive Vote. This is a continuous approval vote.

Review

This change was discussed in the Governance call on Thursday, March 5. Please review the Video, Audio, and the online discussion to inform your position before voting.

The MakerDAO community is moving forward with an Executive Vote to determine whether it will enact the changes established by the previous Governance Polls.

Action

Voting for this proposal will place your MKR in support of implementing the rate changes outlined above.

Details

• Started: Mar 12, 2020
• Passed on Mar 13, 2020, 07:14 UTC. 
• Available for execution on Mar 14, 2020, 07:14 UTC. 
• 95.964,93 MKR in support

Top Supporters

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