From bc9eff1110d3f36e37dc08cdc4809b422e9b520f Mon Sep 17 00:00:00 2001 From: LongForWisdom Date: Sun, 13 Sep 2020 21:21:22 +0100 Subject: [PATCH] Added poll to handle change in Liquidation / Collateralization ratio for PAX-A and USDC-A. Removed Box parameter poll. --- ...Liquidation Ratio - September 14, 2020.md} | 22 +++++++--- ...the Box Parameter - September 14, 2020.md | 43 ------------------- 2 files changed, 15 insertions(+), 50 deletions(-) rename governance/polls/{USDC-A Liquidation Ratio Adjustment - September 14, 2020.md => Reduce USDC-A and PAX-A Liquidation Ratio - September 14, 2020.md} (57%) delete mode 100644 governance/polls/Reduce the Box Parameter - September 14, 2020.md diff --git a/governance/polls/USDC-A Liquidation Ratio Adjustment - September 14, 2020.md b/governance/polls/Reduce USDC-A and PAX-A Liquidation Ratio - September 14, 2020.md similarity index 57% rename from governance/polls/USDC-A Liquidation Ratio Adjustment - September 14, 2020.md rename to governance/polls/Reduce USDC-A and PAX-A Liquidation Ratio - September 14, 2020.md index 14e8f8a97..99b89caa4 100644 --- a/governance/polls/USDC-A Liquidation Ratio Adjustment - September 14, 2020.md +++ b/governance/polls/Reduce USDC-A and PAX-A Liquidation Ratio - September 14, 2020.md @@ -1,30 +1,38 @@ --- -title: USDC-A Liquidation Ratio Adjustment - September 14, 2020 -summary: Signal your support to lower the USDC-A Liquidation Ratio within a range of 105% to 101% +title: Reduce USDC-A and PAX-A Liquidation Ratio - September 14, 2020 +summary: Signal your support to modify the USDC-A and PAX-A Liquidation Ratio within a range of 105% to 101% discussion_link: https://forum.makerdao.com/t/3886 vote_type: Ranked Choice IRV options: 0: Abstain - 1: 110% (No Change) + 1: No Change 2: 105% 3: 104% 4: 103% 5: 102% 6: 101% --- -# Poll: USDC-A Liquidation Ratio Adjustment - September 14, 2020 +# Poll: Reduce USDC-A and PAX-A Liquidation Ratio - September 14, 2020 -The Governance Facilitators have placed a Governance Poll into the [voting system](https://vote.makerdao.com/polling) which presents a number of possible **Liquidation Ratio** options for the USDC-A Vault type. Voters are now able to signal their support for a **USDC-A Liquidation Ratio** within a range of 105% to 101%. +The Governance Facilitators have placed a Governance Poll into the [voting system](https://vote.makerdao.com/polling) which presents a number of possible **Liquidation Ratio** options for the USDC-A and PAX-A Vault types. Voters are now able to signal their support for a **USDC-A and PAX-A Liquidation Ratio** within a range of 105% to 101%. + +Note that this poll is a result of both a recent [signal request](https://forum.makerdao.com/t/3886) and [emergency action](https://forum.makerdao.com/t/expedited-executive-vote-2020-09-14/4125). This weekly Governance Poll ([FAQ](https://community-development.makerdao.com/governance/governance)) will be active for three days beginning on Monday, September 14 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, September 18 at 16:00 UTC. ## Review -The signal request for reducing the USDC-A Liquidation Ratio can be found [here](https://forum.makerdao.com/t/signal-request-should-we-reduce-the-usdc-a-collateralization-ratio/3886) along with the results. Please review the discussion there to inform your position before voting. +The signal request for reducing the USDC-A Liquidation Ratio can be found [here](https://forum.makerdao.com/t/signal-request-should-we-reduce-the-usdc-a-collateralization-ratio/3886) along with the results. + +For additional context, please see the following [emergency signal request](https://forum.makerdao.com/t/signal-request-should-we-take-emergency-action-to-fix-the-peg/4096) and the subsequent [expedited executive vote](https://forum.makerdao.com/t/expedited-executive-vote-2020-09-14/4125). + +Please review the discussion on the linked threads to inform your position before voting. ## Next Steps -On the Friday following the conclusion of the poll, there will be an Executive Vote asking MKR token holders if they support or reject the change proposed by this Governance Poll. +If the expedited executive vote posted on Monday, September 14 passes, then the options of 105% and 104% will not lead to any further action regardless of this poll's outcome because this could result in unbacked DAI. + +Given the above caveat, on the Friday following the conclusion of the poll, there will be an Executive Vote asking MKR token holders if they support or reject the change proposed by this Governance Poll. If the Friday executive passes, then this rate change will become active in the Maker Protocol after the [Governance Security Module](https://forum.makerdao.com/tag/govsec-module) delay has expired. diff --git a/governance/polls/Reduce the Box Parameter - September 14, 2020.md b/governance/polls/Reduce the Box Parameter - September 14, 2020.md deleted file mode 100644 index 24c3d223b..000000000 --- a/governance/polls/Reduce the Box Parameter - September 14, 2020.md +++ /dev/null @@ -1,43 +0,0 @@ ---- -title: Reduce the Box Parameter - September 14, 2020 -summary: Signal your support or opposition for reducing the `box` parameter from 30 million to 15 million. -discussion_link: https://forum.makerdao.com/t/4023 -vote_type: Plurality Voting -options: - 0: Abstain - 1: Yes - 2: No ---- -# Poll: Reduce the Box Parameter - September 14, 2020 - -The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the community. The community can vote in this poll to express support or opposition to reducing the `box` parameter from 30 million to 15 million. - -The `box` parameter represents the maximum DAI value of collateral that can be auctioned by the Maker protocol simultaneously. In practice this parameter acts as a rate-limit on liquidations. - -This Governance Poll ([FAQ](https://community-development.makerdao.com/governance/governance#is-there-more-than-one-type-of-vote)) will be active for three days beginning on Monday, 14 September at 16:00 UTC. - -## Review - -Please review the discussion [thread](https://forum.makerdao.com/t/4023) to inform your position on this issue before voting. - -For more details on the `box` parameter and its function, please see this [thread](https://forum.makerdao.com/t/liquidations-1-2-technical-details/3792). - -## Next Steps - -If this poll ends with a 'Yes' majority, this change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll. - -If this poll ends with a 'No' majority, then no further action will be taken. - -If the Friday executive passes, then this rate change will become active in the Maker Protocol after the [Governance Security Module](https://forum.makerdao.com/tag/govsec-module) delay has expired. - ---- - -## Resources - -If you are new to voting in the Maker Protocol, please see the [voter onboarding guide](https://community-development.makerdao.com/onboarding/voter-onboarding) 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](https://community-development.makerdao.com/governance/governance-risk-framework) - -To participate in future Governance calls, please [join us](https://community-development.makerdao.com/governance/governance-and-risk-meetings) every Thursday at 16:00 UTC. - -To add current and upcoming votes to your calendar, please see the [MakerDAO Public Events Calendar](https://calendar.google.com/calendar/embed?src=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com&ctz=America%2FLos_Angeles).