From c76297567cfb5668c693e254bd45f118dd266c8d Mon Sep 17 00:00:00 2001 From: 0xldr <139177554+0xldr@users.noreply.github.com> Date: Mon, 15 Jul 2024 14:59:37 +0100 Subject: [PATCH 1/4] Create LITE-PSM-USDC-A Phase 1 Parameter Proposal.md --- ...E-PSM-USDC-A Phase 1 Parameter Proposal.md | 70 +++++++++++++++++++ 1 file changed, 70 insertions(+) create mode 100644 governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal.md diff --git a/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal.md b/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal.md new file mode 100644 index 000000000..e7d5654ad --- /dev/null +++ b/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal.md @@ -0,0 +1,70 @@ +--- +title: LITE-PSM-USDC-A Phase 1 Parameter Proposal +summary: Signal your support or opposition to deploying a new LitePSM and the recommended parameters. +discussion_link: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644 +parameters: + input_format: single-choice + victory_conditions: + - { type : plurality } + result_display: single-vote-breakdown +version: v2.0.0 +options: + 0: Abstain + 1: Yes + 2: No +start_date: 2024-07-15T16:00:00 +end_date: 2024-07-18T16:00:00 +--- +# Poll: LITE-PSM-USDC-A Phase 1 Parameter Proposal + +The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Stability Facilitators. This Governance [Poll](https://manual.makerdao.com/governance/governance-cycle/weekly-governance-cycle#weekly-governance-cycle-definitions-mip16c1) will be active for three days beginning on Monday, July 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 + +The community can vote in this poll to express support or opposition to the following changes: + +- Deploy PSM_MOM GSM Delay Exception. +- Migrate initial USDC (20 million USDC) reserves from PSM-USDC-A to LITE-PSM-USDC-A with a script executed in the spell +- The current DC-IAM available DAI liquidity is distributed between the two PSMs + - PSM-USDC-A + - [`tin`](https://manual.makerdao.com/module-index/module-psm#fee-in-tin) & [`tout`](https://manual.makerdao.com/module-index/module-psm#fee-out-tout): **0** (remains unchanged). + - [DC-IAM `line` (Maximum Debt Ceiling)](https://mips.makerdao.com/mips/details/MIP104#14-3-1-4-1-maximum-debt-ceiling-line-): **10 billion DAI** (remains unchanged). + - [DC-IAM `gap` (Target Available Debt)](https://mips.makerdao.com/mips/details/MIP104#14-3-1-4-2-target-available-debt-gap-): Decrease by 20 million DAI, from 400 million DAI to **380 million DAI**. + - [DC-IAM `ttl` (Ceiling Increase Cooldown)](https://mips.makerdao.com/mips/details/MIP104#14-3-1-4-3-ceiling-increase-cooldown-ttl-): **12 hours** (remains unchanged). + - LITE-PSM-USDC-A + - [`tin`](https://manual.makerdao.com/module-index/module-psm#fee-in-tin) & [`tout`](https://manual.makerdao.com/module-index/module-psm#fee-out-tout): Set to **0**. + - [DC-IAM `line` (Maximum Debt Ceiling)](https://mips.makerdao.com/mips/details/MIP104#14-3-1-4-1-maximum-debt-ceiling-line-): Set to **50 million DAI**. + - [DC-IAM `gap` (Target Available Debt)](https://mips.makerdao.com/mips/details/MIP104#14-3-1-4-2-target-available-debt-gap-): Set to **20 million DAI**. + - [DC-IAM `ttl` (Ceiling Increase Cooldown)](https://mips.makerdao.com/mips/details/MIP104#14-3-1-4-3-ceiling-increase-cooldown-ttl-): Set to **12 hours**. + - [`buf`](https://forum.makerdao.com/t/litepsm-lite-psm-usdc-a-introduction-and-overview/24512#lite-psm-usdc-a-parameters-overview-8): Set to **20 million DAI**. +- [GSM Delay](https://mips.makerdao.com/mips/details/MIP113#10-1-gsm-governance-security-module-pause-delay): Decrease by 14 hours, from 30 hours to **16 hours**. +- [ESM (Emergency Shutdown Module) minimum threshold](https://manual.makerdao.com/module-index/module-emergency-shutdown#minimum-threshold-min): Increase by 150,000 MKR, from 150,000 MKR to **300,000 MKR**. +- Deploy a keeper network job for calling permissionless LitePSM functions + +Please review the discussion [thread](https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644) 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:** + +- This change will be included in an upcoming Executive Vote. +- 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](https://manual.makerdao.com/parameter-index/core/param-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](https://manual.makerdao.com/governance/voting-in-makerdao/on-chain-governance) to learn how voting works. + +Additional information about the Governance process can be found in the [Maker Operational Manual](https://manual.makerdao.com). + +To add current and upcoming votes to your calendar, please see the [MakerDAO Governance Calendar](https://manual.makerdao.com/makerdao/calendars/governance-calendar). From 238a35eef8583700e058195a00c0a383169eb7e4 Mon Sep 17 00:00:00 2001 From: 0xldr <139177554+0xldr@users.noreply.github.com> Date: Mon, 15 Jul 2024 15:13:27 +0100 Subject: [PATCH 2/4] Create SparkLend Ethereum - Activate a Morpho market for Pendle PT sUSDe with Oct 25, 2024 Maturity - July 15, 2024.md --- ...h Oct 25, 2024 Maturity - July 15, 2024.md | 58 +++++++++++++++++++ 1 file changed, 58 insertions(+) create mode 100644 governance/polls/SparkLend Ethereum - Activate a Morpho market for Pendle PT sUSDe with Oct 25, 2024 Maturity - July 15, 2024.md diff --git a/governance/polls/SparkLend Ethereum - Activate a Morpho market for Pendle PT sUSDe with Oct 25, 2024 Maturity - July 15, 2024.md b/governance/polls/SparkLend Ethereum - Activate a Morpho market for Pendle PT sUSDe with Oct 25, 2024 Maturity - July 15, 2024.md new file mode 100644 index 000000000..ca72f6b0e --- /dev/null +++ b/governance/polls/SparkLend Ethereum - Activate a Morpho market for Pendle PT sUSDe with Oct 25, 2024 Maturity - July 15, 2024.md @@ -0,0 +1,58 @@ +--- +title: SparkLend Ethereum - Activate a Morpho market for Pendle PT sUSDe with Oct 25, 2024 Maturity - July 15, 2024 +summary: Signal your support or opposition to the addition of a Pendle PT sUSDe with October 25, 2024 maturity market to the Morpho Spark DAI Vault. +discussion_link: https://forum.makerdao.com/t/jul-12-2024-proposed-changes-to-spark-for-upcoming-spell/24635 +parameters: + input_format: single-choice + victory_conditions: + - { type : plurality } + result_display: single-vote-breakdown +version: v2.0.0 +options: + 0: Abstain + 1: Yes + 2: No +start_date: 2024-07-15T16:00:00 +end_date: 2024-07-18T16:00:00 +--- +# Poll: SparkLend Ethereum - Activate a Morpho market for Pendle PT sUSDe with Oct 25, 2024 Maturity - July 15, 2024 + +The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Stability Facilitators. This Governance [Poll](https://manual.makerdao.com/governance/governance-cycle/weekly-governance-cycle#weekly-governance-cycle-definitions-mip16c1) will be active for three days beginning on Monday, July 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 + +The community can vote in this poll to express support or opposition to activating a Morpho market for Pendle PT sUSDe with Oct 25, 2024 maturity with the following parameters: + +- PT Maturity Date: **2024-10-25**. +- Pool LLTV: **86%**. +- Pool supply cap: **100 million DAI**. +- Initial Dai to be allocated: **25 million DAI**. +- Oracle: **Fixed 1 USD value per PT (based on fixed 1 USD value per USDe used by the vault generally, and 1 USDe redemption value per PT at maturity)**. + +Please review the discussion [thread](https://forum.makerdao.com/t/jul-12-2024-proposed-changes-to-spark-for-upcoming-spell/24635) 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:** + +- This change will be included in an upcoming Executive Vote. +- 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](https://manual.makerdao.com/parameter-index/core/param-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](https://manual.makerdao.com/governance/voting-in-makerdao/on-chain-governance) to learn how voting works. + +Additional information about the Governance process can be found in the [Maker Operational Manual](https://manual.makerdao.com). + +To add current and upcoming votes to your calendar, please see the [MakerDAO Governance Calendar](https://manual.makerdao.com/makerdao/calendars/governance-calendar). From ab1542880f6b27af84a9f3da55c8fc0b4e6cc109 Mon Sep 17 00:00:00 2001 From: 0xldr <139177554+0xldr@users.noreply.github.com> Date: Mon, 15 Jul 2024 15:14:28 +0100 Subject: [PATCH 3/4] Update and rename LITE-PSM-USDC-A Phase 1 Parameter Proposal.md to LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md fix missing date and end of file name and titles --- ...-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md} | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) rename governance/polls/{LITE-PSM-USDC-A Phase 1 Parameter Proposal.md => LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md} (97%) diff --git a/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal.md b/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md similarity index 97% rename from governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal.md rename to governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md index e7d5654ad..c84abeab9 100644 --- a/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal.md +++ b/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md @@ -1,5 +1,5 @@ --- -title: LITE-PSM-USDC-A Phase 1 Parameter Proposal +title: LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024 summary: Signal your support or opposition to deploying a new LitePSM and the recommended parameters. discussion_link: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644 parameters: @@ -15,7 +15,7 @@ options: start_date: 2024-07-15T16:00:00 end_date: 2024-07-18T16:00:00 --- -# Poll: LITE-PSM-USDC-A Phase 1 Parameter Proposal +# Poll: LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024 The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Stability Facilitators. This Governance [Poll](https://manual.makerdao.com/governance/governance-cycle/weekly-governance-cycle#weekly-governance-cycle-definitions-mip16c1) will be active for three days beginning on Monday, July 15 at 16:00 UTC. From 1caf1d03cadb18292c5b8645b6721bf6def8de7e Mon Sep 17 00:00:00 2001 From: 0xldr <139177554+0xldr@users.noreply.github.com> Date: Mon, 15 Jul 2024 16:00:12 +0100 Subject: [PATCH 4/4] Apply suggestions from code review Co-authored-by: MakerJanSky <137431968+MakerJanSky@users.noreply.github.com> --- ...M-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md b/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md index c84abeab9..df87d58c7 100644 --- a/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md +++ b/governance/polls/LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024.md @@ -1,6 +1,6 @@ --- title: LITE-PSM-USDC-A Phase 1 Parameter Proposal - July 15, 2024 -summary: Signal your support or opposition to deploying a new LitePSM and the recommended parameters. +summary: Signal your support or opposition to deploying a new LitePSM with recommended parameters. discussion_link: https://forum.makerdao.com/t/lite-psm-usdc-a-phase-1-test-period-proposed-parameters/24644 parameters: input_format: single-choice @@ -27,11 +27,11 @@ The Governance Facilitators have placed a Governance Poll into the voting system ## Review -The community can vote in this poll to express support or opposition to the following changes: +The community can vote in this poll to express support or opposition to initiating the LITE-PSM-USDC-A Phase 1 with the following recommended changes: - Deploy PSM_MOM GSM Delay Exception. -- Migrate initial USDC (20 million USDC) reserves from PSM-USDC-A to LITE-PSM-USDC-A with a script executed in the spell -- The current DC-IAM available DAI liquidity is distributed between the two PSMs +- Migrate the initial 20 million USDC in reserves from PSM-USDC-A to LITE-PSM-USDC-A with a script executed in an upcoming spell. +- Adjust the current DC-IAM DAI liquidity parameters between the two PSMs: - PSM-USDC-A - [`tin`](https://manual.makerdao.com/module-index/module-psm#fee-in-tin) & [`tout`](https://manual.makerdao.com/module-index/module-psm#fee-out-tout): **0** (remains unchanged). - [DC-IAM `line` (Maximum Debt Ceiling)](https://mips.makerdao.com/mips/details/MIP104#14-3-1-4-1-maximum-debt-ceiling-line-): **10 billion DAI** (remains unchanged).