A new executive vote is now live on the Maker Governance portal, providing MKR holders and delegates the opportunity to use their voting power to implement significant changes within the Maker Protocol. The following actions will occur if this executive proposal passes.
Proposal Overview
🔥 Smart Burn Engine (SBE) Parameters Update
Based on the latest analysis by BA Labs, the following Smart Burn Engine (SBE) parameters will be updated:
- Decrease the hop parameter to 10,249 seconds.
- Decrease the bump parameter to 65,000 DAI.
âš¡ Spark Proxy Spell
A Spark proxy spell at address 0xc96420Dbe9568e2a65DD57daAD069FDEd37265fa will be triggered. This spell includes the following changes to Spark’s Metamorpho Vault and SparkLend:
[Mainnet] Update Spark’s MetaMorpho Vault Supply Caps
- Increase the sUSDe 91.5% LLTV pool supply cap to 200 million DAI.
- Increase the sUSDe 86% LLTV pool supply cap to 500 million DAI.
These updates aim to increase the capacity of sUSDe pools to match their USDe counterparts.
[Gnosis] Onboard USDC.e as Borrowable Asset Gnosis Chain has introduced USDC.e, a new USDC token that complies with Circle’s standards. Initial parameters include:
- Optimal Utilization: 95%
- Supply Cap: 10 million USDC.e
- Borrow Cap: 8 million USDC.e
[Gnosis] Update USDC Parameters to Prepare for Offboarding With the transition to USDC.e causing a decline in on-chain liquidity for the old version of USDC on Gnosis Chain, the following updates will be made:
- Decrease Optimal Utilization to 80%
- Increase Slope2 to 50%
- Decrease Borrow Cap to 1 million USDC
💰 Launch Project Funding
The following transfers will be made to support the Launch Project:
- Transfer 4,500,000 DAI to
0x3C5142F28567E6a0F172fd0BaaF1f2847f49D02F. - Transfer 1,300 MKR to
0x3C5142F28567E6a0F172fd0BaaF1f2847f49D02F.
These funds will support various development areas including Marketing and Branding, advanced language AI systems, Ops tooling, Spells, Risk, SubDAO Development, Phoenix Labs’ maintenance and development of Spark, Legal, Infrastructure, and Stability projects.
Execution Details
If the proposal is approved, these changes will be available for execution within the Maker Protocol 30 hours after the vote passes. Note that the executive proposal includes an office-hours modifier, meaning it can only be executed between 14:00 and 21:00 UTC, Monday – Friday.
Engage and Vote
MKR holders and delegates, it’s time to actively engage and shape the future direction of MakerDAO. You can:
- Vote directly through the Executive Proposal: Executive Proposal
- Delegate your MKR to one or more Recognized Delegates: Delegate Your MKR
