PPG - Open Market Committee Proposal - January 9, 2023

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Open Market Committee. This Governance Poll will be active for three days beginning on Monday, January 9 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

MKR Voters may vote in this poll to express support or opposition to the following parameter changes:

Stability Fee Increase

• Increase the WSTETH-B Stability Fee by 0.25% from 0% to 0.25%.

DAI Direct Deposit Module (D3M) Changes

Compound v2 D3M Changes

• Increase the Maximum Debt Ceiling (line) by 15 million DAI from 5 million DAI to 20 million DAI.
• Set Target Available Debt (gap) to 5 million DAI.

Aave v2 D3M Changes

• Reactivate the Aave v2 D3M.
• Set Target Borrow Rate (bar) to 2%.
• Set Maximum Debt Ceiling (line) to 20 million DAI.
• Set Target Available Debt (gap) to 5 million DAI.

Governance Facilitator’s Note: It is likely that Protocol Engineering will move to upgrade the Aave v2 D3M to the more recent implementation used for the Compound v2 D3M. If this is done, since it is a new implementation, a more cautious Debt Ceiling may be used initially. Final confirmation will be provided by PE and GovAlpha prior to any relevant Executive Vote.

PSM Changes

• Increase the PSM-USDP-A Fee In (tin) by 0.1% from 0.1% to 0.2%.

Please review the proposal thread 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:

• These parameter changes 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.