Poll: Undertake Necessary Risk and Legal Assessments to Increase the NS-DROP Debt Ceiling to 50 Million DAI - November 28, 2022

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Strategic Finance Core Unit (SF-001). This Governance Poll will be active for three days beginning on Monday, November 28 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 Maker Governance to signal their support or opposition to the Strategic Finance Core Unit moving forwards with the risk and legal assessments on increasing the Debt Ceiling of the NS-DROP vault with the below parameters.

• Adding in WSFS as the trustee, based on the Trust Indenture put together earlier this year by Christian Petersen and Eli Cohen.
• Increase Vault Debt Ceiling to 50 million DAI.
• Remove senior co-investor requirement and over-collateralization requirement
• Increase Junior minimum to 20% from 15%
• Increase Stability Fee to 4.5% from 3.5%

Please review the discussion thread and New Silver proposal to help inform your position before voting.

Outcomes

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

• This change will be included in an upcoming Executive Vote as the Protocol Engineering Core Unit’s schedule allows.
• 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 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

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.