The Maker Foundation Interim Governance Facilitator has placed an Executive Vote into the voting system, which will enable the community to approve the addition of USDC as a new collateral type.

If passed, USDC can be used to open Vaults in order to generate Dai.

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

As detailed in this forum post, the main goals that the community should aim to achieve with the introduction of USDC as a collateral type are as follows:

Increase Dai liquidity specifically for keepers taking part in both FLIP and FLOP auctions.

Increase Dai liquidity such that the Dai peg moves closer towards $1.

The rationale for holding this vote outside of the traditional weekly cycle is discussed in detail in the forum post above. Please join the ongoing discussion at forum.makerdao.com and review the discussion to inform your position before voting.

Action

Voting for this proposal will place your MKR in support of adding the collateral type 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.