Signal Request: Should we reduce the minimum bid increase required for Surplus Auctions (FLAPs)?

Possibly. If we are going to lower the beg it should be in slow small changes before doing anything drastic. Like you said earlier:

This is all theoretical and we can only guess how keepers will react. I do think we should leave some meat on the bone for the keepers though. It is a fairly complicated task and they should be rewarded for keeping the system running.

Ya for sure. The gas wars haven’t even started yet, that’s one reason why I think we should wait to change anything.

I think that’s an unavoidable problem unfortunately.

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I think we have a pretty clear winner now so I’ll go ahead and close the poll.

With 39% of the vote, 2% is the clear option.

I will task @rich.brown with adding this polling option to the dashboard for Monday:

Title: Should we reduce the minimum bid increase required for Surplus Auctions to 2%?

Description:
Currently, Surplus Auctions (FLAPs) require Keepers to bid in increments of greater than 3% for each new bid. If this proposal passes, the minimum bid necessary would be reduced to 2%.

More info on auctions can be found here: https://github.com/makerdao/developerguides/blob/master/keepers/auctions/auctions-101.md

Discussion on this topic can be found here:
Signal Request: Should we reduce the minimum bid increase required for Surplus Auctions (FLAPs)?

Options: Yes/No

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Personally I believe in this kind of auction using commit-reveal schema would work much better, but that requires big change to the system, so it is not a priority right now.

Changes like tweaking bid increase by 1% do not have substantial influence on a system.

I think decreasing lot size is much more interesting goal to pursuit.

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This poll is now live. Thanks for the hard work and thought put into this @Aaron_Bartsch.

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This proposal has now passed the executive! Thank you to everyone for their input, signalling, and voting on-chain. Look forward to seeing how this affects the auctions!

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