Add WBTC-C as a new Vault Type - November 22, 2021
The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This Governance Poll will be active for three days beginning on Monday, November 22 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 WBTC-C as a new vault type in the Maker Protocol with the parameters below:
- Underlying Collateral: Wrapped Bitcoin (WBTC)
- Stability Fee: 1.5%
- Liquidation Ratio: 175%
- Debt Ceiling (
line): 1 billion DAI
- Target Available Debt (
gap): 100 million
- Ceiling Increase Cooldown (
ttl): 8 hours
- Debt Floor (
dust): 7,500 DAI
- Auction Price Function (
calc): Stairstep Exponential
- Price Change Multiplier (
- Price Change Interval (
step): 90 seconds
- Auction Price Multiplier (
- Liquidation Penalty (
- Local Liquidation Limit (
ilk.hole): 25 million DAI
- Maximum Auction Drawdown (
- Maximum Auction Duration (
tail): 90 minutes
- Breaker Price Tolerance (
Please review the following forum threads containing information about WBTC-C to inform your position before voting.
If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:
- WBTC-C will be onboarded in a future executive vote as the Protocol Engineering Core Unit's 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 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.
Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.
To participate in future Governance calls, please join us every Thursday at 17:00 UTC.
To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.