(Edit) I don’t believe that it makes sense to continue polling past the current point, and I will not be putting up more PSM polls at the current time. See my comment here for details.
This post is intended to communicate the planned timeline for voting and possible implementation of the Peg Stabilization Module (described here: Peg Stabilization Modules: A Pre-MIP Discussion) I’ve communicated this a number of times informally, but this should be considered the canonical resource.
20th July - On-Chain Governance Poll: “Does Maker Governance want to implement the Peg Stabilization Module proposal in some form, targeting implementation at the end of July?” If this poll fails to have a majority yes vote, the rest of this timeline will not take place.
27th July - Ranked On-chain Governance Poll(s?) which will determine the parameters with which the PSM is deployed.
31st July* - Authorisation and activation of the PSM included in weekly executive vote.
*Note that the inclusion in the 31st July executive will depend on how smoothly the smart contracts domain work goes on the PSM. If the implementation is not ready by the 31st, it will be included in the 7th August Executive vote.
One possible difficulty for this timeline is figuring out what the poll or polls on the 27th of July should look like. I would recommend that governance start considering concrete options as to what certain parameter settings for the PSM should be.
I think it would be ideal if we had a set of 3-5 ‘parameter packages’ or strategies to choose from. This should help to ensure that whatever set of parameters ends up moving forward to the executive is at least consistent within itself.
For each PSM
- Fee In
- Fee Out
- Debt Ceiling
There can be one or more PSMs with the same or different ERC20 tokens operating with different fees and debt ceiling settings.