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 - Proposal for Collateral Onboarding of USDC

The Maker Foundation Interim Governance Facilitator has placed an Executive Vote into the voting system, which will enable the community to approve the addition of USDC as a new collateral type.

If passed, USDC can be used to open Vaults in order to generate Dai.

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

As detailed in this forum post, the main goals that the community should aim to achieve with the introduction of USDC as a collateral type are as follows:

• Increase Dai liquidity specifically for keepers taking part in both FLIP and FLOP auctions.
• Increase Dai liquidity such that the Dai peg moves closer towards $1.

The rationale for holding this vote outside of the traditional weekly cycle is discussed in detail in the forum post above. Please join the ongoing discussion at forum.makerdao.com and review the discussion to inform your position before voting.

Action

Voting for this proposal will place your MKR in support of adding the collateral type outlined above.

Details

• Started: Mar 15, 2020
• Passed on Mar 16, 2020, 22:56 UTC.
• Executed on Mar 17, 2020, 02:58 UTC.
• 87.360,45 MKR in support

Top Supporters

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