Onboard GNO to Spark Protocol - May 15, 2023
The Arbitration Facilitators have placed a Governance Poll into the voting system on behalf of Spark Protocol. This Governance Poll will be active for three days beginning on Monday, May 15 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'.
This poll allows the MakerDAO governance community to signal their support or opposition to adding GNO (Gnosis) to Spark Protocol.
Spark Onboarding Parameters
Token Address: 0x6810e776880C02933D47DB1b9fc05908e5386b96
Oracle: Maker Medianizer via adaptor
Oracle Provider: Chronicle
Borrow Enabled: No
Collateral Enabled: Yes
Isolation Mode Enabled: Yes
Isolation Mode Debt Ceiling: 5 million USD
Loan To Value: 20%
Liquidation Threshold: 25%
Liquidation Bonus: 10%
Please review the proposal thread for more information about this proposed onboarding.
An updated risk evaluation has been provided by BA Labs and can be found here.
Activate Isolation Mode for DAI Market On Spark Protocol
This setting change will allow DAI to be borrowed using isolation mode enabled assets on Spark Protocol. It is a one-off change that is required given the onboarding of GNO as the first isolation mode enabled asset on Spark.
Reduce GNO-A Debt Ceiling to Zero
In order to manage maximum total exposure to GNO (Gnosis), the GNO-A vault in the Maker Protocol will have its Debt Ceiling reduced to zero if this proposal passes. Rationale is provided here by the Decentralized Collateral Scope Facilitators.
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- These changes will be actioned in a future executive vote as the technical resource schedule allows.
- It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.
- If the executive vote passes, then these changes will become active in Spark Protocol and the Maker Protocol after the GSM Pause Delay has expired.
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.
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.