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SparkLend Ethereum - Collateral Parameter Adjustments - February 26, 2024.md

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title summary discussion_link parameters version options start_date end_date
SparkLend Ethereum - Collateral Parameter Changes - February 26, 2024
Signal your support or opposition to the SparkLend Collateral Parameter Changes.
input_format victory_conditions result_display
single-choice
type
plurality
single-vote-breakdown
v2.0.0
0 1 2
Abstain
true
false
2024-02-26 08:00:00 -0800
2024-02-29 08:00:00 -0800

Poll: SparkLend Ethereum - Collateral Parameter Adjustments - February 26, 2024

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, February 26 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

The community can vote in this poll to express support or opposition to the following SparkLend Ethereum Collateral Parameter Changes.

WETH

  • Increase LTV from 80% to 82%
  • Increase LT from 82.5% to 83%
  • Reduce slope 1 from 3.2% to 2.8%

WSTETH

  • Increase LTV from 68.5% to 79%
  • Increase LT from 79.5% to 80%

RETH

  • Increase LTV from 68.5% to 79%
  • Increase LT from 79.5% to 80%
  • Increase base rate from 0% to 0.25%

WBTC

  • Increase LTV from 70% to 74%

sDAI

  • Increase LTV from 74% to 79%
  • Increase LT from 76% to 80%
  • Increase liquidation penalty from 4.5% to 5%

ETH emode

  • Increase LTV from 90% to 92%

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 to include this change 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.