[Governance Poll] Stability Fee Adjustment Poll - July 15th, 2019

The Maker Foundation Interim Risk Team has placed a Governance Poll into the voting system which presents a number of possible Dai Stability Fee options. Voters are now able to signal their support for a Stability Fee within a range of 16.5% to 24.5%.

This Governance Poll (FAQ) will be active for three days beginning on Monday, July 15 at 4 PM UTC, the results of which will inform an Executive Vote (FAQ) which will go live on Friday, July 19, at 4 PM UTC.

Review

The Stability Fee was discussed in the Governance call on Thursday, July 11. Please review the Video, Audio, Transcript and the online discussion 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.
  • This weekly cycle of Polling and Voting will continue until the community believes that stability has returned to the peg.

Resources

Additional information about the Governance process can be found in the Governance Risk Framework: Governing MakerDAO

Demos, help and instructional material for the Governance Dashboard can be found at Awesome 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.

One comment on this:

Is this still true? We were still polling weekly even when Dai was fairly stable. Should it change to ‘This will continue indefinitely?’ Or ‘This will continue until the launch of MCD?’

There needs to be a strong signal from the community before we change the schedule.

It’s my hope that we can dig into this cadence post once the new portal is launched in the following weeks.

Sorry, I was unclear here.

I’m not talking about changing the schedule unilaterally, only pointing out that this statement isn’t true. There was general belief (at least it appeared to be general belief) that we were at the peg until the dip recently. We were still polling during this time even though Dai was on the peg.

I’m proposing we remove the bolded statement and replace it with something like:

This weekly cycle of Polling and Voting will continue until the community indicates consensus for change via an on-chain poll.

1 Like