Poll: Adjusting Auction Parameters for ETH Vault Types - June 7, 2021

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Risk Core Unit. This Governance Poll will be active for three days beginning on Monday, June 7 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 the MakerDAO governance community to signal their support or opposition to changing the following parameters for ETH Vault Types in the Maker Protocol.

Increasing Local Liquidation Limits (ilk.hole)

• ETH-A Local Liquidation Limit from 22M to 30 million DAI
• ETH-B Local Liquidation Limit from 8M to 15 million DAI
• ETH-C Local Liquidation Limit from 5M to 20 million DAI

ETH-B Adjustments

• Decrease Price Change Interval (step) from 90 seconds to 60 seconds
• Decrease Auction Price Multiplier (buf) from 1.3 to 1.2

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Outcomes

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

• These changes will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
• If the Friday executive 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.

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Resources

For more information on parameter effects, consider viewing the Gauntlet Audit of the Liquidations 2.0 System.

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.