HomeCoinsMaker (MKR)Add NS-DROP (New Silver DROP) as a Collateral Type

Add NS-DROP (New Silver DROP) as a Collateral Type

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The MakerDAO governance facilitator has placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This Governance Poll will be active for three days beginning on Monday, January 25 at 16:00 UTC.

This is a binary vote. In a binary vote, you may vote for a single option. You should vote for the option which you prefer. Alternatively, if you would accept either of the two options and have no preference between them, you should abstain.

Review

This poll allows the MakerDAO governance community to signal their support or opposition to adding NS-DROP (New Silver DROP) as a collateral type in the Maker Protocol with the parameters below:

  • Stability Fee: 3.5%
  • Collateralization Ratio (vault based): 105%
  • Minimum Collateralization Ratio (pool-based): 108%
  • Underlying Collateralization Ratio (pool/DAI loan): 113%
  • Debt Ceiling: 5 million DAI

Note that due to the nature of Real-World Assets, many of the usual system parameters do not apply to this vault-type and have been excluded from this list. For explanations of the three collateralization ratio parameters, please check the risk assessment linked below.

Please review the following forum threads containing information about NS-DROP (New Silver DROP) to 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:

  • NS-DROP (New Silver DROP) will be onboarded in a future executive vote as the Smart Contracts domain team’s schedule allows.
  • It is expected that this executive vote will take place within 60 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 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 to learn how voting works, and this wallet setup guide to set up your wallet to vote.

Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.

To participate in future Governance calls, please join us every Thursday at 17:00 UTC.

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



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