[Governance Poll] Stability Fee Adjustment Poll - July 22th, 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 23 at 4 PM UTC, the results of which will inform an Executive Vote (FAQ) which will go live on Friday, July 26, at 4 PM UTC.

Review

The Stability Fee was discussed in the Governance call on Thursday, July 18. 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.

I support the 19.5% rate.

I do feel as though we are teasing an under-supply situation, and given that, as of today, Compound at 100% utilization caps at 20%, and with us at 20.5% I think that creates a potentially dicey issue where its still cheaper not to close out your Compound position even as the liquidity in the market dries up.

I also feel that we as a voting group are too reactionary with our rate lines, and that we should all take a little more conservative approach, generally, to rate changes than we have been in the past few weeks. A 1% rate change instead of 2% would be more in line with this direction.

19.5% would be a nice conservative response, while still keeping us under the Compound rate.

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