From 6fdefed92e91bfd44df723adbe559d394d9545d7 Mon Sep 17 00:00:00 2001 From: blimpa Date: Sat, 25 May 2024 17:50:38 -0300 Subject: [PATCH 01/25] Create Community Executive vote - May 30, 2024.md --- ...Community Executive vote - May 30, 2024.md | 82 +++++++++++++++++++ 1 file changed, 82 insertions(+) create mode 100644 governance/votes/Community Executive vote - May 30, 2024.md diff --git a/governance/votes/Community Executive vote - May 30, 2024.md b/governance/votes/Community Executive vote - May 30, 2024.md new file mode 100644 index 000000000..f23d65aab --- /dev/null +++ b/governance/votes/Community Executive vote - May 30, 2024.md @@ -0,0 +1,82 @@ +--- +title: Template - [Executive Vote] SBE Surplus Buffer Upper Limit Update, RWAF and RWA004-A DAO Resolutions, Spark Proxy Spell - May 30, 2024 +summary: Smart Burn Engine Surplus Buffer Upper Limit Update, RWA Foundation (RWAF) and RWA004-A DAO Resolutions, Spark Proxy Spell. +date: 2024-05-30T00:00:00.000Z +address: "$spell_address" + +--- +# [Executive Proposal] [Executive Vote] SBE Surplus Buffer Upper Limit Update, RWAF and RWA004-A DAO Resolutions, Spark Proxy Spell - May 30, 2024 + +The Governance Facilitators and Dewiz have placed an executive proposal into the voting system. MKR Holders should vote for this proposal if they support the following alterations to the Maker Protocol. + +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. + +--- + +## Executive Summary + +If this executive proposal passes, the following actions will occur within the Maker Protocol: + +- The Smart Burn Engine (SBE) Surplus Buffer Upper Limit will be updated. +- A RWAF DAO Resolution will be approved. +- A RWA004-A DAO Resolution will be approved. +- A proxy spell for Spark Protocol will be triggered. + +Unless otherwise noted, the changes and additions listed above are subject to the [GSM Pause Delay](https://manual.makerdao.com/parameter-index/core/param-gsm-pause-delay). This means that if this executive proposal passes, the changes and additions listed above will only become active in the Maker Protocol after the GSM Pause Delay has expired. The GSM Pause Delay is currently set to **30 hours**. + +If this executive proposal does not pass within 30 days, then it will expire and can no longer have any effect on the Maker Protocol. + +--- + +## Proposal Details + +### Smart Burn Engine (SBE) Parameter Updates + +- **Authorization:** [Forum post](https://forum.makerdao.com/t/smart-burn-engine-vow-hump-surplus-buffer-upper-limit-reconfiguration-update-7/24348/2) +- **Proposal:** [Forum post](https://forum.makerdao.com/t/smart-burn-engine-vow-hump-surplus-buffer-upper-limit-reconfiguration-update-7/24348) + +If this executive proposal passes, the following SBE parameter will be changed: + +- The [`vow.hump` (SBE Surplus Buffer Upper Limit)](https://mips.makerdao.com/mips/details/MIP104#9-1-smart-burn-engine-parameters) parameter will be increased by 5 million DAI seconds from 50 million DAI to **55 million DAI**. + +### Approve RWAF DAO Resolution + +- **Authorization:** [Forum post](TBD) +- **Proposal:** [Forum post](https://forum.makerdao.com/t/dao-resolution-banking-setup-for-rwa-foundation/24362) + +If this executive proposal passes, the following DAO Resolution pertaining to RWA Foundation (RWAF) will be approved: + +- RWAF DAO Resolution with IPFS hash [Qmb8vLDH6wT4Y2axnJX1JSKVKHTG3jzX3U3novw886H8UR](https://ipfs.io/ipfs/Qmb8vLDH6wT4Y2axnJX1JSKVKHTG3jzX3U3novw886H8UR). + +### Approve RWA004-A DAO Resolution + +- **Authorization:** [Forum post](TBD) +- **Proposal:** [Forum post](https://forum.makerdao.com/t/harbor-trade-credit-workout-process/24367) + +If this executive proposal passes, the following DAO Resolution pertaining to [Harbor Trade Credit (RWA004-A)](https://makerburn.com/#/collateral/RWA004-A) will be approved: + +- RWA004-A DAO Resolution with IPFS hash [QmUiYTRy4BkV681tfFe3Ksj6gdLEq27w34MqLw5LvRaBoD](https://ipfs.io/ipfs/QmUiYTRy4BkV681tfFe3Ksj6gdLEq27w34MqLw5LvRaBoD). + +### Trigger Spark Proxy Spell + +- **Authorization:** [Poll](TBD) +- **Proposal**: [Forum posts](https://forum.makerdao.com/t/may-21-2024-proposed-changes-to-sparklend-for-upcoming-spell/24327) + +If this executive proposal passes, a Spark proxy spell at [TBD](https://etherscan.io/address/TBD) will be triggered. This proxy spell will take the following actions: + +- [Mainnet+Gnosis] Turn off silo borrowing for all stablecoins. +- [Mainnet+Gnosis] IRM (Interest Rate Model) Refresh. +- [Mainnet] Update Morpho Vault Supply Caps. +- [Gnosis] Disable Governance Bridge Security Delay. + +## Review + +Community debate on these topics can be found on the MakerDAO [Governance forum](https://forum.makerdao.com/). Please review any linked threads to inform your position before voting. + +--- + +## Resources + +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 f47d440357e21072095f50066517177ab15f1e45 Mon Sep 17 00:00:00 2001 From: blimpa Date: Sat, 25 May 2024 18:12:11 -0300 Subject: [PATCH 02/25] Fixed file name --- ...ve vote - May 30, 2024.md => Executive vote - May 30, 2024.md} | 0 1 file changed, 0 insertions(+), 0 deletions(-) rename governance/votes/{Community Executive vote - May 30, 2024.md => Executive vote - May 30, 2024.md} (100%) diff --git a/governance/votes/Community Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md similarity index 100% rename from governance/votes/Community Executive vote - May 30, 2024.md rename to governance/votes/Executive vote - May 30, 2024.md From eb260bb5670bc401de5bb751dbad9af3b1e1d188 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:35:46 -0100 Subject: [PATCH 03/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index f23d65aab..7ba972c09 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -1,5 +1,5 @@ --- -title: Template - [Executive Vote] SBE Surplus Buffer Upper Limit Update, RWAF and RWA004-A DAO Resolutions, Spark Proxy Spell - May 30, 2024 +title: Template - [Executive Vote] SBE Surplus Buffer Upper Limit Update, RWAF and Harbor Trade Credit DAO Resolutions, Spark Proxy Spell - May 30, 2024 summary: Smart Burn Engine Surplus Buffer Upper Limit Update, RWA Foundation (RWAF) and RWA004-A DAO Resolutions, Spark Proxy Spell. date: 2024-05-30T00:00:00.000Z address: "$spell_address" From d619d1434ff1732895b17b361e57ce6b813fb846 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:35:53 -0100 Subject: [PATCH 04/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 7ba972c09..2bf0ee59e 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -1,6 +1,6 @@ --- title: Template - [Executive Vote] SBE Surplus Buffer Upper Limit Update, RWAF and Harbor Trade Credit DAO Resolutions, Spark Proxy Spell - May 30, 2024 -summary: Smart Burn Engine Surplus Buffer Upper Limit Update, RWA Foundation (RWAF) and RWA004-A DAO Resolutions, Spark Proxy Spell. +summary: Smart Burn Engine Surplus Buffer Upper Limit Update, RWA Foundation (RWAF) and Harbor Trade Credit (RWA004-A) DAO Resolutions, execute Spark Proxy Spell. date: 2024-05-30T00:00:00.000Z address: "$spell_address" From f961fd0eceb5e5a2807b11822af515cfde57e573 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:36:01 -0100 Subject: [PATCH 05/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 2bf0ee59e..dc01e1400 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -5,7 +5,7 @@ date: 2024-05-30T00:00:00.000Z address: "$spell_address" --- -# [Executive Proposal] [Executive Vote] SBE Surplus Buffer Upper Limit Update, RWAF and RWA004-A DAO Resolutions, Spark Proxy Spell - May 30, 2024 +# [Executive Proposal] SBE Surplus Buffer Upper Limit Update, RWAF and Harbor Trade Credit DAO Resolutions, Spark Proxy Spell - May 30, 2024 The Governance Facilitators and Dewiz have placed an executive proposal into the voting system. MKR Holders should vote for this proposal if they support the following alterations to the Maker Protocol. From bd518b5b253f463c9c5df0fcd607b9e8a12d90a2 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:36:09 -0100 Subject: [PATCH 06/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index dc01e1400..ba3d775e3 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -7,7 +7,7 @@ address: "$spell_address" --- # [Executive Proposal] SBE Surplus Buffer Upper Limit Update, RWAF and Harbor Trade Credit DAO Resolutions, Spark Proxy Spell - May 30, 2024 -The Governance Facilitators and Dewiz have placed an executive proposal into the voting system. MKR Holders should vote for this proposal if they support the following alterations to the Maker Protocol. +The Governance Facilitators and Dewiz, Sidestream, and Phoenix Labs have placed an executive proposal into the voting system. MKR Holders should vote for this proposal if they support the following alterations to the Maker Protocol. 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. From c567d6d7175f2190dfd5b00bf65a4d1f442058c4 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:36:16 -0100 Subject: [PATCH 07/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index ba3d775e3..1bab2c038 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -18,7 +18,7 @@ If you are new to voting in the Maker Protocol, please see the [voting guide](ht If this executive proposal passes, the following actions will occur within the Maker Protocol: - The Smart Burn Engine (SBE) Surplus Buffer Upper Limit will be updated. -- A RWAF DAO Resolution will be approved. +- A RWA Foundation (RWAF) DAO Resolution will be approved. - A RWA004-A DAO Resolution will be approved. - A proxy spell for Spark Protocol will be triggered. From 91cc15dc7d6fe13591a519ff0441adb39d875a3a Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:36:22 -0100 Subject: [PATCH 08/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 1bab2c038..7f97abbd7 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -19,7 +19,7 @@ If this executive proposal passes, the following actions will occur within the M - The Smart Burn Engine (SBE) Surplus Buffer Upper Limit will be updated. - A RWA Foundation (RWAF) DAO Resolution will be approved. -- A RWA004-A DAO Resolution will be approved. +- A Harbor Trade Credit (RWA004-A) DAO Resolution will be approved. - A proxy spell for Spark Protocol will be triggered. Unless otherwise noted, the changes and additions listed above are subject to the [GSM Pause Delay](https://manual.makerdao.com/parameter-index/core/param-gsm-pause-delay). This means that if this executive proposal passes, the changes and additions listed above will only become active in the Maker Protocol after the GSM Pause Delay has expired. The GSM Pause Delay is currently set to **30 hours**. From dae52a13e5bb3e7c18d6107647007d0bd890d686 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:36:31 -0100 Subject: [PATCH 09/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 7f97abbd7..a49ed182e 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -37,7 +37,7 @@ If this executive proposal does not pass within 30 days, then it will expire and If this executive proposal passes, the following SBE parameter will be changed: -- The [`vow.hump` (SBE Surplus Buffer Upper Limit)](https://mips.makerdao.com/mips/details/MIP104#9-1-smart-burn-engine-parameters) parameter will be increased by 5 million DAI seconds from 50 million DAI to **55 million DAI**. +- The [`vow.hump` (SBE Surplus Buffer Upper Limit)](https://mips.makerdao.com/mips/details/MIP104#9-1-smart-burn-engine-parameters) parameter will be increased by 5 million DAI from 50 million DAI to **55 million DAI**. ### Approve RWAF DAO Resolution From 973c2bd561d6f3894bcedf2039cbb9bd38554bec Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:36:38 -0100 Subject: [PATCH 10/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index a49ed182e..26852e736 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -39,7 +39,7 @@ If this executive proposal passes, the following SBE parameter will be changed: - The [`vow.hump` (SBE Surplus Buffer Upper Limit)](https://mips.makerdao.com/mips/details/MIP104#9-1-smart-burn-engine-parameters) parameter will be increased by 5 million DAI from 50 million DAI to **55 million DAI**. -### Approve RWAF DAO Resolution +### Approve RWA Foundation (RWAF) DAO Resolution - **Authorization:** [Forum post](TBD) - **Proposal:** [Forum post](https://forum.makerdao.com/t/dao-resolution-banking-setup-for-rwa-foundation/24362) From ad0b6401d2569e0c5b146f636674b3ed06738a0c Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:36:44 -0100 Subject: [PATCH 11/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 26852e736..ba4f92676 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -48,7 +48,7 @@ If this executive proposal passes, the following DAO Resolution pertaining to RW - RWAF DAO Resolution with IPFS hash [Qmb8vLDH6wT4Y2axnJX1JSKVKHTG3jzX3U3novw886H8UR](https://ipfs.io/ipfs/Qmb8vLDH6wT4Y2axnJX1JSKVKHTG3jzX3U3novw886H8UR). -### Approve RWA004-A DAO Resolution +### Approve Harbor Trade Credit (RWA004-A) DAO Resolution - **Authorization:** [Forum post](TBD) - **Proposal:** [Forum post](https://forum.makerdao.com/t/harbor-trade-credit-workout-process/24367) From 712a7f861b9b608139740ff89ec41ec8ca24d127 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:36:54 -0100 Subject: [PATCH 12/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index ba4f92676..1c247bf5d 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -59,7 +59,7 @@ If this executive proposal passes, the following DAO Resolution pertaining to [H ### Trigger Spark Proxy Spell -- **Authorization:** [Poll](TBD) +- **Authorization:** [Ecosystem Approval](https://forum.makerdao.com/t/may-21-2024-proposed-changes-to-sparklend-for-upcoming-spell/24327/3), [Poll](TBD) - **Proposal**: [Forum posts](https://forum.makerdao.com/t/may-21-2024-proposed-changes-to-sparklend-for-upcoming-spell/24327) If this executive proposal passes, a Spark proxy spell at [TBD](https://etherscan.io/address/TBD) will be triggered. This proxy spell will take the following actions: From c0f67f4736ed6c30598096ef7ce21a7a02f552a5 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:37:05 -0100 Subject: [PATCH 13/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 6 +++++- 1 file changed, 5 insertions(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 1c247bf5d..1687d0530 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -64,7 +64,11 @@ If this executive proposal passes, the following DAO Resolution pertaining to [H If this executive proposal passes, a Spark proxy spell at [TBD](https://etherscan.io/address/TBD) will be triggered. This proxy spell will take the following actions: -- [Mainnet+Gnosis] Turn off silo borrowing for all stablecoins. +#### [Mainnet+Gnosis] Turn off silo borrowing for all stablecoins + +- Turn off [siloed borrowing](https://docs.sparkprotocol.io/developers/sparklend/features/siloed-borrowing) for Circle USD (USDC) and Tether USD (USDT) on both Ethereum and Gnosis. +- Turn off siloed borrowing for Monerium EURO e-money (EURe) on Gnosis. + - [Mainnet+Gnosis] IRM (Interest Rate Model) Refresh. - [Mainnet] Update Morpho Vault Supply Caps. - [Gnosis] Disable Governance Bridge Security Delay. From 23f24ed81501531cb01c26735e9d918044196821 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:37:13 -0100 Subject: [PATCH 14/25] Update governance/votes/Executive vote - May 30, 2024.md --- .../votes/Executive vote - May 30, 2024.md | 35 ++++++++++++++++++- 1 file changed, 34 insertions(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 1687d0530..8ea9ff1fa 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -69,7 +69,40 @@ If this executive proposal passes, a Spark proxy spell at [TBD](https://ethersca - Turn off [siloed borrowing](https://docs.sparkprotocol.io/developers/sparklend/features/siloed-borrowing) for Circle USD (USDC) and Tether USD (USDT) on both Ethereum and Gnosis. - Turn off siloed borrowing for Monerium EURO e-money (EURe) on Gnosis. -- [Mainnet+Gnosis] IRM (Interest Rate Model) Refresh. +#### [Mainnet+Gnosis] IRM (Interest Rate Model) Update + + If this executive proposal passes, the following changes will be implemented on the SparkLend [markets](https://app.spark.fi/markets): + +- Ethereum: + - ETH + - Reduce slope 1 from 2.8% to 2.5% + - Circle USD (USDC) + - Change slope 1 to DSR + 1% + - Reduce slope 2 from 20% to 15% + - Tether USD (USDT) + - Change slope 1 to DSR + 1% + - Reduce slope 2 from 20% to 15% +- Gnosis: + - ETH + - Reduce slope 1 from 3.2% to 2.5% + - Reduce optimal utilization from 90% to 80% + - DAI + - Reduce slope 1 from 12% to 9% + - Reduce slope 2 from 50% to 15% + - Increase optimal utilization from 90% to 95% + - USDC + - Reduce slope 1 from 12% to 9% + - Reduce slope 2 from 50% to 15% + - Increase optimal utilization from 90% to 95% + - USDT + - Reduce slope 1 from 12% to 9% + - Reduce slope 2 from 50% to 15% + - Increase optimal utilization from 90% to 95% + - Monerium EUR e-money (EURe) + - Reduce slope 1 from 7% to 5% + - Reduce slope 2 from 50% to 15% + - Increase optimal utilization from 90% to 95% + - [Mainnet] Update Morpho Vault Supply Caps. - [Gnosis] Disable Governance Bridge Security Delay. From 9f4710dd64782b7312e872f7347947cdad357a8c Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:37:19 -0100 Subject: [PATCH 15/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 6 +++++- 1 file changed, 5 insertions(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 8ea9ff1fa..7e1e248ab 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -104,7 +104,11 @@ If this executive proposal passes, a Spark proxy spell at [TBD](https://ethersca - Increase optimal utilization from 90% to 95% - [Mainnet] Update Morpho Vault Supply Caps. -- [Gnosis] Disable Governance Bridge Security Delay. +#### [Gnosis] Disable Governance Bridge Security Delay + +- Lower the security delay for SparkLend governance on Gnosis from 2 days to **0 days**. +- Set the minimum security delay limit to **0**. + ## Review From df02c999b86fcd2ef888608b4227373a84d6d129 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:37:26 -0100 Subject: [PATCH 16/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 6 +++++- 1 file changed, 5 insertions(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 7e1e248ab..58da40638 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -103,7 +103,11 @@ If this executive proposal passes, a Spark proxy spell at [TBD](https://ethersca - Reduce slope 2 from 50% to 15% - Increase optimal utilization from 90% to 95% -- [Mainnet] Update Morpho Vault Supply Caps. +#### [Mainnet] Update Morpho Vault Supply Caps + +- Increase the supply cap of the [sUSDe 91.5% LLTV pool](https://morpho.blockanalitica.com/markets/1247f1c237eceae0602eab1470a5061a6dd8f734ba88c7cdc5d6109fb0026b28/) from 50 million DAI to **100 million DAI**. +- Increase the supply cap of the [sUSDe 86% LLTV pool](https://morpho.blockanalitica.com/markets/39d11026eae1c6ec02aa4c0910778664089cdd97c3fd23f68f7cd05e2e95af48/) from 200 million DAI to **400 million DAI**. + #### [Gnosis] Disable Governance Bridge Security Delay - Lower the security delay for SparkLend governance on Gnosis from 2 days to **0 days**. From 38a600e155f79317841e7106f9cae9870d5cbc3b Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:38:35 -0100 Subject: [PATCH 17/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 58da40638..83276d3bb 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -50,7 +50,7 @@ If this executive proposal passes, the following DAO Resolution pertaining to RW ### Approve Harbor Trade Credit (RWA004-A) DAO Resolution -- **Authorization:** [Forum post](TBD) +- **Authorization:** [Forum post](https://forum.makerdao.com/t/harbor-trade-credit-workout-process/24367/4) - **Proposal:** [Forum post](https://forum.makerdao.com/t/harbor-trade-credit-workout-process/24367) If this executive proposal passes, the following DAO Resolution pertaining to [Harbor Trade Credit (RWA004-A)](https://makerburn.com/#/collateral/RWA004-A) will be approved: From c7124ead24263d1d0e94c182d4954b0da356c7b6 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 07:38:55 -0100 Subject: [PATCH 18/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 83276d3bb..c839bcbe1 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -41,7 +41,7 @@ If this executive proposal passes, the following SBE parameter will be changed: ### Approve RWA Foundation (RWAF) DAO Resolution -- **Authorization:** [Forum post](TBD) +- **Authorization:** [Forum post](https://forum.makerdao.com/t/dao-resolution-banking-setup-for-rwa-foundation/24362/2) - **Proposal:** [Forum post](https://forum.makerdao.com/t/dao-resolution-banking-setup-for-rwa-foundation/24362) If this executive proposal passes, the following DAO Resolution pertaining to RWA Foundation (RWAF) will be approved: From 11ee9d1cd686245e5e1eb5fbb5c0b61d63fbe99d Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 22:32:47 -0100 Subject: [PATCH 19/25] Update governance/votes/Executive vote - May 30, 2024.md Co-authored-by: 0xldr <139177554+0xldr@users.noreply.github.com> --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index c839bcbe1..5996a9ca8 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -64,7 +64,7 @@ If this executive proposal passes, the following DAO Resolution pertaining to [H If this executive proposal passes, a Spark proxy spell at [TBD](https://etherscan.io/address/TBD) will be triggered. This proxy spell will take the following actions: -#### [Mainnet+Gnosis] Turn off silo borrowing for all stablecoins +#### [Mainnet+Gnosis] Turn off siloed borrowing for all stablecoins - Turn off [siloed borrowing](https://docs.sparkprotocol.io/developers/sparklend/features/siloed-borrowing) for Circle USD (USDC) and Tether USD (USDT) on both Ethereum and Gnosis. - Turn off siloed borrowing for Monerium EURO e-money (EURe) on Gnosis. From a924241536271d4015ece7153d30bea0b67de823 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 22:33:01 -0100 Subject: [PATCH 20/25] Update governance/votes/Executive vote - May 30, 2024.md Co-authored-by: 0xldr <139177554+0xldr@users.noreply.github.com> --- governance/votes/Executive vote - May 30, 2024.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 5996a9ca8..f3a1598c7 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -105,8 +105,8 @@ If this executive proposal passes, a Spark proxy spell at [TBD](https://ethersca #### [Mainnet] Update Morpho Vault Supply Caps -- Increase the supply cap of the [sUSDe 91.5% LLTV pool](https://morpho.blockanalitica.com/markets/1247f1c237eceae0602eab1470a5061a6dd8f734ba88c7cdc5d6109fb0026b28/) from 50 million DAI to **100 million DAI**. -- Increase the supply cap of the [sUSDe 86% LLTV pool](https://morpho.blockanalitica.com/markets/39d11026eae1c6ec02aa4c0910778664089cdd97c3fd23f68f7cd05e2e95af48/) from 200 million DAI to **400 million DAI**. +- Increase the supply cap of the [sUSDe 91.5% LLTV pool](https://morpho.blockanalitica.com/markets/1247f1c237eceae0602eab1470a5061a6dd8f734ba88c7cdc5d6109fb0026b28/) by 50 million DAI from 50 million DAI to **100 million DAI**. +- Increase the supply cap of the [sUSDe 86% LLTV pool](https://morpho.blockanalitica.com/markets/39d11026eae1c6ec02aa4c0910778664089cdd97c3fd23f68f7cd05e2e95af48/) by 200 million DAI from 200 million DAI to **400 million DAI**. #### [Gnosis] Disable Governance Bridge Security Delay From 884584665cdce2889fcdbe2d449834d6309e24be Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 22:33:11 -0100 Subject: [PATCH 21/25] Update governance/votes/Executive vote - May 30, 2024.md Co-authored-by: 0xldr <139177554+0xldr@users.noreply.github.com> --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index f3a1598c7..75185f5b5 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -110,7 +110,7 @@ If this executive proposal passes, a Spark proxy spell at [TBD](https://ethersca #### [Gnosis] Disable Governance Bridge Security Delay -- Lower the security delay for SparkLend governance on Gnosis from 2 days to **0 days**. +- Lower the bridge security delay for SparkLend governance on Gnosis by 2 days from 2 days to **0 days**. - Set the minimum security delay limit to **0**. From 7e8ff26dd6b3cead026879f3f1e9dbfcb4c9cd53 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 22:43:57 -0100 Subject: [PATCH 22/25] Add deltas --- .../votes/Executive vote - May 30, 2024.md | 67 +++++++++++-------- 1 file changed, 38 insertions(+), 29 deletions(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 75185f5b5..a0cc2ec39 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -73,35 +73,44 @@ If this executive proposal passes, a Spark proxy spell at [TBD](https://ethersca If this executive proposal passes, the following changes will be implemented on the SparkLend [markets](https://app.spark.fi/markets): -- Ethereum: - - ETH - - Reduce slope 1 from 2.8% to 2.5% - - Circle USD (USDC) - - Change slope 1 to DSR + 1% - - Reduce slope 2 from 20% to 15% - - Tether USD (USDT) - - Change slope 1 to DSR + 1% - - Reduce slope 2 from 20% to 15% -- Gnosis: - - ETH - - Reduce slope 1 from 3.2% to 2.5% - - Reduce optimal utilization from 90% to 80% - - DAI - - Reduce slope 1 from 12% to 9% - - Reduce slope 2 from 50% to 15% - - Increase optimal utilization from 90% to 95% - - USDC - - Reduce slope 1 from 12% to 9% - - Reduce slope 2 from 50% to 15% - - Increase optimal utilization from 90% to 95% - - USDT - - Reduce slope 1 from 12% to 9% - - Reduce slope 2 from 50% to 15% - - Increase optimal utilization from 90% to 95% - - Monerium EUR e-money (EURe) - - Reduce slope 1 from 7% to 5% - - Reduce slope 2 from 50% to 15% - - Increase optimal utilization from 90% to 95% +##### Ethereum: + +###### ETH +- Reduce slope 1 by 0.3% from 2.8% to **2.5%** + +###### Circle USD (USDC) +- Change slope 1 to DSR + 1% +- Reduce slope 2 by 5% from 20% to **15%** + +###### Tether USD (USDT) +- Change slope 1 to DSR + 1% +- Reduce slope 2 by 5% from 20% to **15%** + +##### Gnosis: + +###### ETH +- Reduce slope 1 by 0.7% from 3.2% to **2.5%** +- Reduce optimal utilization by 10% from 90% to **80%** + +###### DAI +- Reduce slope 1 by 3% from 12% to **9%** +- Reduce slope 2 by 35% from 50% to **15%** +- Increase optimal utilization by 5% from 90% to **95%** + +###### USDC +- Reduce slope 1 by 3% from 12% to **9%** +- Reduce slope 2 by 35% from 50% to **15%** +- Increase optimal utilization by 5% from 90% to **95%** + +###### USDT +- Reduce slope 1 by 3% from 12% to **9%** +- Reduce slope 2 by 35% from 50% to **15%** +- Increase optimal utilization by 5% from 90% to **95%** + +###### Monerium EUR e-money (EURe) +- Reduce slope 1 by 2% from 7% to **5%** +- Reduce slope 2 by 35% from 50% to **15%** +- Increase optimal utilization by 5% from 90% to **95%** #### [Mainnet] Update Morpho Vault Supply Caps From 7941be0709a95c5a7745846063cdb56993582cdf Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 27 May 2024 23:09:12 -0100 Subject: [PATCH 23/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index a0cc2ec39..6cfd12e30 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -59,7 +59,7 @@ If this executive proposal passes, the following DAO Resolution pertaining to [H ### Trigger Spark Proxy Spell -- **Authorization:** [Ecosystem Approval](https://forum.makerdao.com/t/may-21-2024-proposed-changes-to-sparklend-for-upcoming-spell/24327/3), [Poll](TBD) +- **Authorization:** [Ecosystem Approval](https://forum.makerdao.com/t/may-21-2024-proposed-changes-to-sparklend-for-upcoming-spell/24327/3), Polls [1](https://vote.makerdao.com/polling/QmQHu69a), [2](https://vote.makerdao.com/polling/QmWdmh1e), [3](https://vote.makerdao.com/polling/QmT5e8NG), [4](https://vote.makerdao.com/polling/QmZhjzUg) - **Proposal**: [Forum posts](https://forum.makerdao.com/t/may-21-2024-proposed-changes-to-sparklend-for-upcoming-spell/24327) If this executive proposal passes, a Spark proxy spell at [TBD](https://etherscan.io/address/TBD) will be triggered. This proxy spell will take the following actions: From 1ee6768ece04a9df4414e921a3e8642292906534 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Tue, 28 May 2024 14:02:48 -0100 Subject: [PATCH 24/25] Update governance/votes/Executive vote - May 30, 2024.md Co-authored-by: 0xldr <139177554+0xldr@users.noreply.github.com> --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 6cfd12e30..2318517ad 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -64,7 +64,7 @@ If this executive proposal passes, the following DAO Resolution pertaining to [H If this executive proposal passes, a Spark proxy spell at [TBD](https://etherscan.io/address/TBD) will be triggered. This proxy spell will take the following actions: -#### [Mainnet+Gnosis] Turn off siloed borrowing for all stablecoins +#### [Mainnet+Gnosis] Turn Off Siloed Borrowing for All Stablecoins - Turn off [siloed borrowing](https://docs.sparkprotocol.io/developers/sparklend/features/siloed-borrowing) for Circle USD (USDC) and Tether USD (USDT) on both Ethereum and Gnosis. - Turn off siloed borrowing for Monerium EURO e-money (EURe) on Gnosis. From 907dc444bc87c98bbc089c1eb8509a3c9781a11d Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Tue, 28 May 2024 14:03:24 -0100 Subject: [PATCH 25/25] Update governance/votes/Executive vote - May 30, 2024.md --- governance/votes/Executive vote - May 30, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/votes/Executive vote - May 30, 2024.md b/governance/votes/Executive vote - May 30, 2024.md index 2318517ad..4d7c7f4d4 100644 --- a/governance/votes/Executive vote - May 30, 2024.md +++ b/governance/votes/Executive vote - May 30, 2024.md @@ -62,7 +62,7 @@ If this executive proposal passes, the following DAO Resolution pertaining to [H - **Authorization:** [Ecosystem Approval](https://forum.makerdao.com/t/may-21-2024-proposed-changes-to-sparklend-for-upcoming-spell/24327/3), Polls [1](https://vote.makerdao.com/polling/QmQHu69a), [2](https://vote.makerdao.com/polling/QmWdmh1e), [3](https://vote.makerdao.com/polling/QmT5e8NG), [4](https://vote.makerdao.com/polling/QmZhjzUg) - **Proposal**: [Forum posts](https://forum.makerdao.com/t/may-21-2024-proposed-changes-to-sparklend-for-upcoming-spell/24327) -If this executive proposal passes, a Spark proxy spell at [TBD](https://etherscan.io/address/TBD) will be triggered. This proxy spell will take the following actions: +If this executive proposal passes, a Spark proxy spell at [0x7bcDd1c8641F8a0Ef98572427FDdD8c26D642256](https://etherscan.io/address/0x7bcDd1c8641F8a0Ef98572427FDdD8c26D642256) will be triggered. This proxy spell will take the following actions: #### [Mainnet+Gnosis] Turn Off Siloed Borrowing for All Stablecoins