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, January 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'.

Review

Given that the current supply cap for WBTC, set at 3,000 WBTC, has been reached and considering the continued demand for leverage using WBTC, Phoenix Labs proposes an increase in the WBTC supply cap on Ethereum. The specific value for this increase was determined by the BA Labs acting as the Stability Scope facilitator. The community can vote in this poll to express support or opposition to the following change:

• Increase WBTC supply cap from 3,000 to 5,000 WBTC.

Please review the discussion thread to help inform your position before voting.

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 implementing the WBTC supply cap increase on SparkLend Ethereum.
• 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 Executive Vote passes, then these changes will become active in 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.

Resources

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.