The Governance Facilitators and the Maker Foundation Smart Contracts Team have placed an Executive Vote into the voting system which will enable the community to approve the following alterations to the protocol.
Reduce the Base Rate
Stability Fees are calculated from the Base Rate and Risk Premiums using the formula
Stability Fee = max(Base Rate + Risk Premium, 0%). Please note that a negative Base Rate does NOT imply negative Stability Fees.
Whitelist DyDx on ETHUSD Oracle
Therefore, if this Executive proposal passes the following will occur:
- The Base Rate meta-parameter will be reduced from 0% to -4%.
- The WBTC-A Stability Fee parameter will be reduced from 2% to 0%.
- The KNC-A Stability Fee parameter will be reduced from 4% to 0%.
- The ZRX-A Stability Fee parameter will be reduced from 4% to 0%.
- The USDC-A Stability Fee parameter will be reduced from 4% to 0%.
- The USDC-B Stability Fee parameter will be reduced from 50% to 46%.
- The MANA-A Stability Fee parameter will be reduced from 12% to 8%.
- DyDx will be whitelisted on the ETHUSD Oracle.
Voting for this proposal will place your MKR in support of implementing the changes outlined above.
If you are new to voting in the Maker Protocol, please see the voter onboarding guide to learn how to use this dashboard and set up your wallet to vote.
Additional information about the Governance process can be found in the Governance Risk Framework: Governing MakerDAO
To participate in future Governance calls, please join us every Thursday at 16:00 UTC.
To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.
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