The Governance Facilitators have placed a Governance Poll into the voting system on behalf of Spark Protocol and the Stability Facilitators. This Governance Poll will be active for three days beginning on Monday, October 2 at 16:00 UTC.

This is a binary vote.

• You may vote for a single option.
• You should vote for the option which you prefer.
• If you would accept either option, you should vote 'Abstain'.

Review

Express your support or opposition to the following proposed changes:

• Add USDC to SparkLend Ethereum as a borrow-only market, with the below parameters; and
• Activate USD eMode for USDC and sDAI markets, with the below parameters

SparkLend Ethereum Parameters

• Token: USDC.
• Enable Collateral: No.
• Loan to Value: N/A.
• Liquidation Threshold: N/A.
• Liquidation Bonus: N/A.
• Liquidation Protocol Fee: N/A.
• Isolation Mode: NO.
• Isolation Mode Debt Ceiling: N/A.
• eMode Category: USD.
• Enable Borrow: YES.
• Base: 0%.
• Slope1: DSR - 0.4%.
• Slope2: 20%.
• Optimal Utilization: 95%.
• Reserve Factor: 5%.
• Supply Cap: 60m.
• Borrow Cap: Unlimited.
• Isolation Borrowable: NO.
• Stable Rate Borrowing: NO.
• Flash Loan Enabled: YES.
• Siloed Borrowing: YES.

USD Efficiency Mode Parameters for USDC & sDAI Markets

• LTV: 91%.
• LT: 92%.
• Liquidation penalty: 1%.

Please review the proposal thread for more information about this proposed onboarding.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

• Phoenix Labs will prepare a Spark spell to onboard USDC to SparkLend Ethereum and activate USD eMode for USDC and sDAI markets, with the specified parameters.
• An upcoming Executive Vote will include a proposal to execute the Spark spell.
• It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.

If the votes for the 'No' option equal or exceed the votes for the 'Yes' option then no further action will be taken at this time.

---

Resources

Further information about Spark Protocol can be found at its Documentation Hub.

If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works.

Additional information about the Governance process can be found in the Maker Operational Manual.

To add current and upcoming votes to your calendar, please see the MakerDAO Governance Calendar.