This has been discussed previously several times. I’m creating this thread in an attempt to gather consensus and to move us forward to a decision on what the stability fee cadence should be. I’ve intentionally left out specific options for the initial stage. Two weeks was always somewhat arbitrary so we should have a chance to discuss other options.
Advantages of a longer cadence
- It allows us to observe the results of stability fee changes without confounding those results with more changes.
- Infrequent measured changes look better from an outside perspective than rapid changes with questionable scientific backing.
- Some MKR holders cited the frequent votes as a contributor to voter apathy, a longer cadence would reduce this.
- Gives MKR Token Holders more time to push through the executive vote before it is potentially replaced by a new executive.
- Allows more time for discussion and consensus building on each rate change.
Advantages of a shorter cadence
- It allows us to more quickly react to changing market conditions without resorting to exceptional procedures.
- In an ideal world, the stability fee can better reflect the market conditions at any given time.
- It could be argued that a shorter cadence keeps voters involved with Maker as there is a vote occurring every week.
If you have additional advantages for either option, please express them in a comment and I will add them to these lists.
I have described my plan for the progression of this (and future) proposals here. Please feel free to provide feedback, the process is open to change.
We’ll start with an initial sentiment poll to determine whether there is appetite to change the cadence from the current cadence of 1 week. Please use this week to signal and to propose and discuss specific options. If we have a majority (>50%) for change after 1 week has passed, I will add a poll to gather consensus on the proposed options.
This initial sentiment poll will remain open throughout the process.
- Yes, we should change the stability fee poll cadence.
- No, we should not change the stability fee poll cadence.
- Abstain (I just want to see results)
- Abstain (I have no opinion)
- Abstain (I don’t feel I am knowledgeable on the subject)
- Abstain (I disagree with the poll options)
- Abstain (I have a different objection)