Poll: SparkLend Ethereum - Increase Capacity of weETH - July 1, 2024

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Stability Facilitators. This Governance Poll will be active for three days beginning on Monday, July 1 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

This poll allows MakerDAO Governance to signal their support or opposition to increasing the capacity of weETH (Etherfi weETH) on mainnet with the following parameter changes:

• Increase weETH Supply Cap Max by 150,000 weETH, from 50,000 weETH to 200,000 weETH
• Increase weETH Isolation Mode Debt Ceiling by 150 million DAI, from 50 million DAI to 200 million DAI

Please review the proposal thread for more information about this proposed onboarding.

Outcomes

If the votes for the ‘Yes’ option exceed the votes for the ‘No’ option then the following actions will be taken:

• The above changes in the capacity of weETH (Etherfi weETH) on SparkLend on mainnet will be added in a future 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 SparkLend 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.

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Resources

Further information about Spark Protocol can be found at its Documentation Hub.

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.