The Maker Foundation Interim Governance Facilitator has placed an Executive Vote into the voting system, which will enable the community to approve the following alteration to the protocol:

The Executive Vote (FAQ) will continue until the number of votes surpass the total in favor of the previous Executive Vote. This is a continuous approval vote.

Review

1MM in bad debt was not covered by the recent debt auctions due to a protocol bug. This change will start auctions for the remaining bad debt. To ensure a predictable start time for the auctions, after being voted in and undergoing the governance delay, this change can only be effected between 12 PM and 2 PM EDT on March 27th or any subsequent weekday (until the spell expires after 30 days).

This forum post contains more detailed background information.

This change was discussed in the Governance call on Thursday, March 26. Please review the Video, Audio, and the online discussion to inform your position before voting.

The MakerDAO community is moving forward with an Executive Vote to determine whether it will enact the changes established by the previous Governance Poll.

Action

Voting for this proposal will place your MKR in support of implementing the rate changes outlined above.

Resources

Additional information about the Governance process can be found in the Governance Risk Framework: Governing MakerDAO

Demos, help and instructional material for the Governance Dashboard can be found at Awesome MakerDAO.

To participate in future Governance calls, please join us every Thursday at 16:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.