From b083b0cf6d1a046ebf42d494dbdcf7818aa276ff Mon Sep 17 00:00:00 2001 From: blimpa Date: Sat, 14 Sep 2024 17:57:03 -0300 Subject: [PATCH 01/10] SparkLend cbBTC collateral onboarding --- ...lateral Onboarding - September 16, 2024.md | 83 +++++++++++++++++++ 1 file changed, 83 insertions(+) create mode 100644 governance/polls/SparkLend - cbBTC Collateral Onboarding - September 16, 2024.md diff --git a/governance/polls/SparkLend - cbBTC Collateral Onboarding - September 16, 2024.md b/governance/polls/SparkLend - cbBTC Collateral Onboarding - September 16, 2024.md new file mode 100644 index 000000000..25cc4d613 --- /dev/null +++ b/governance/polls/SparkLend - cbBTC Collateral Onboarding - September 16, 2024.md @@ -0,0 +1,83 @@ +--- +title: SparkLend - cbBTC Collateral Onboarding - September 16, 2024 +summary: Signal your support or opposition to onboarding Coinbase Wrapped BTC (cbBTC) on SparkLend on Ethereum mainnet. +discussion_link: https://forum.makerdao.com/t/sep-12-2024-proposed-changes-to-spark-for-upcoming-spell/25076 +parameters: + input_format: single-choice + victory_conditions: + - { type : plurality } + result_display: single-vote-breakdown +version: v2.0.0 +options: + 0: Abstain + 1: Yes + 2: No +start_date: 2024-09-16T16:00:00 +end_date: 2024-09-19T16:00:00 +--- +# Poll: SparkLend - cbBTC Collateral Onboarding - September 16, 2024 + +The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Ecosystem team. This Governance [Poll](https://manual.makerdao.com/governance/governance-cycle/weekly-governance-cycle#weekly-governance-cycle-definitions-mip16c1) will be active for three days beginning on Monday, September 16 at 16:00 UTC. + +**This is a binary vote.** + +- **You may vote for a single option.** +- **You should vote for the option which you prefer.** +- **If you would accept either option, you should vote 'Abstain'.** + +## Review + +The community can vote in this poll to express support or opposition to onboarding Coinbase Wrapped BTC (cbBTC) on SparkLend on Ethereum mainnet with the following parameters: + +- Optimal Utilization: **60%** +- Base: **0%** +- Slope1: **4%** +- Slope2: **300%** +- Stable rate func (deprecated): **N/A** +- Enable Borrow: **YES** +- Stable Rate Borrowing: **NO** +- Isolation Borrowable: **NO** +- [Siloed Borrowing](https://docs.sparkprotocol.io/developers/sparklend/features/siloed-borrowing): **NO** +- [Flash Loan](https://docs.sparkprotocol.io/developers/guides/flash-loans) Enabled: **YES** +- [Loan To Value](https://docs.aave.com/risk/asset-risk/risk-parameters#loan-to-value): **65%** +- [Liquidation Threshold](https://docs.aave.com/risk/asset-risk/risk-parameters#liquidation-threshold): **70%** +- Liquidation Bonus: **8%** +- [Reserve Factor](https://docs.aave.com/risk/asset-risk/risk-parameters#reserve-factor): **20%** +- [Supply Cap](https://docs.sparkprotocol.io/developers/features/supply-borrow-caps#supply-caps): **500 cbBTC** +- Supply Cap (`max`): **3,000 cbBTC** +- Supply Cap (`gap`): **500 cbBTC** +- Supply Cap (`ttl`): **12 hours** +- [Borrow Cap](https://docs.sparkprotocol.io/developers/features/supply-borrow-caps#borrow-caps): **50 cbBTC** +- Borrow Cap (`max`): **500 cbBTC** +- Borrow Cap (`gap`): **50 cbBTC** +- Borrow Cap (`ttl`): **12 hours** +- [Isolation Mode](https://docs.sparkprotocol.io/developers/features/isolation-mode): **NO** +- Isolation Mode Debt Ceiling: **N/A** +- Liquidation Protocol Fee: **10%** +- [Emode](https://docs.sparkprotocol.io/developers/features/efficiency-mode-emode) Category: **0** + +cbBTC contract: [0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf](https://etherscan.io/address/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf) + +Oracle: [Chronicle Labs BTC/USD](https://chroniclelabs.org/dashboard/oracle/BTC/USD?blockchain=ETH&txn=0xe9ff73bad08cd1efc4773a2ccb0b43a39c441a8a5d0b180bd5ad5d20ac096016&contract=0x24C392CDbF32Cf911B258981a66d5541d85269ce) + +Please review the discussion [thread](https://forum.makerdao.com/t/sep-12-2024-proposed-changes-to-spark-for-upcoming-spell/25076) to help 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:** + +- Phoenix Labs will prepare a Spark spell to onboard cbBTC to SparkLend Ethereum with the specified parameters. +- It is expected that this Executive Vote will take place within 30 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](https://manual.makerdao.com/parameter-index/core/param-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](https://manual.makerdao.com/governance/voting-in-makerdao/on-chain-governance) to learn how voting works. + +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 3bf07dacb382b4b3432f62e8d407a920e10c5018 Mon Sep 17 00:00:00 2001 From: blimpa Date: Sat, 14 Sep 2024 18:03:11 -0300 Subject: [PATCH 02/10] SparkLend Ethereum cbBTC collateral onboarding --- ...eum - cbBTC Collateral Onboarding - September 16, 2024.md} | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) rename governance/polls/{SparkLend - cbBTC Collateral Onboarding - September 16, 2024.md => SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md} (96%) diff --git a/governance/polls/SparkLend - cbBTC Collateral Onboarding - September 16, 2024.md b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md similarity index 96% rename from governance/polls/SparkLend - cbBTC Collateral Onboarding - September 16, 2024.md rename to governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md index 25cc4d613..73bf79c74 100644 --- a/governance/polls/SparkLend - cbBTC Collateral Onboarding - September 16, 2024.md +++ b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md @@ -1,5 +1,5 @@ --- -title: SparkLend - cbBTC Collateral Onboarding - September 16, 2024 +title: SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024 summary: Signal your support or opposition to onboarding Coinbase Wrapped BTC (cbBTC) on SparkLend on Ethereum mainnet. discussion_link: https://forum.makerdao.com/t/sep-12-2024-proposed-changes-to-spark-for-upcoming-spell/25076 parameters: @@ -15,7 +15,7 @@ options: start_date: 2024-09-16T16:00:00 end_date: 2024-09-19T16:00:00 --- -# Poll: SparkLend - cbBTC Collateral Onboarding - September 16, 2024 +# Poll: SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024 The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Ecosystem team. This Governance [Poll](https://manual.makerdao.com/governance/governance-cycle/weekly-governance-cycle#weekly-governance-cycle-definitions-mip16c1) will be active for three days beginning on Monday, September 16 at 16:00 UTC. From bc9a101e3747b7007a2ac640a57814bbf0020a00 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 16 Sep 2024 11:05:02 -0100 Subject: [PATCH 03/10] Update governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md Co-authored-by: boet <166723020+boet1@users.noreply.github.com> --- ...thereum - cbBTC Collateral Onboarding - September 16, 2024.md | 1 + 1 file changed, 1 insertion(+) diff --git a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md index 73bf79c74..ab740c218 100644 --- a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md +++ b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md @@ -67,6 +67,7 @@ Please review the discussion [thread](https://forum.makerdao.com/t/sep-12-2024-p **If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:** - Phoenix Labs will prepare a Spark spell to onboard cbBTC to SparkLend Ethereum with the specified parameters. +- An upcoming Executive Vote will include a proposal to execute the Spark spell. - It is expected that this Executive Vote will take place within 30 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](https://manual.makerdao.com/parameter-index/core/param-gsm-pause-delay) has expired. From df6a2eb3c01be704319975553bc0e54aba685c96 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 16 Sep 2024 11:13:10 -0100 Subject: [PATCH 04/10] Update governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md --- ...hereum - cbBTC Collateral Onboarding - September 16, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md index ab740c218..701719470 100644 --- a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md +++ b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md @@ -69,7 +69,7 @@ Please review the discussion [thread](https://forum.makerdao.com/t/sep-12-2024-p - Phoenix Labs will prepare a Spark spell to onboard cbBTC to SparkLend Ethereum with the specified parameters. - An upcoming Executive Vote will include a proposal to execute the Spark spell. - It is expected that this Executive Vote will take place within 30 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](https://manual.makerdao.com/parameter-index/core/param-gsm-pause-delay) has expired. +- If the Executive Vote passes, then these changes will become active in the Sky Protocol after the [GSM Pause Delay](https://manual.makerdao.com/parameter-index/core/param-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.** From 6873cdf94d55daa508e2b77de64ad3847860674c Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 16 Sep 2024 11:14:14 -0100 Subject: [PATCH 05/10] Update governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md --- ...reum - cbBTC Collateral Onboarding - September 16, 2024.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md index 701719470..41198d114 100644 --- a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md +++ b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md @@ -77,8 +77,8 @@ Please review the discussion [thread](https://forum.makerdao.com/t/sep-12-2024-p ## Resources -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. +If you are new to voting in the Sky Protocol, please see the [voting guide](https://manual.makerdao.com/governance/voting-in-makerdao/on-chain-governance) to learn how voting works. 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). +To add current and upcoming votes to your calendar, please see the [Sky Governance Calendar](https://manual.makerdao.com/makerdao/calendars/governance-calendar). From a9d5afc1fb8c265c30bcf1c7cfa3169b33e8beef Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 16 Sep 2024 11:23:00 -0100 Subject: [PATCH 06/10] Apply suggestions from CS's code review Co-authored-by: CivicSage3 <164015192+CivicSage3@users.noreply.github.com> --- ...cbBTC Collateral Onboarding - September 16, 2024.md | 10 +++++----- 1 file changed, 5 insertions(+), 5 deletions(-) diff --git a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md index 41198d114..ed78f5eb7 100644 --- a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md +++ b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md @@ -29,14 +29,14 @@ The Governance Facilitators have placed a Governance Poll into the voting system The community can vote in this poll to express support or opposition to onboarding Coinbase Wrapped BTC (cbBTC) on SparkLend on Ethereum mainnet with the following parameters: -- Optimal Utilization: **60%** -- Base: **0%** -- Slope1: **4%** -- Slope2: **300%** +- [Optimal Utilization](https://sky-atlas.powerhouse.io/#A.3.8.1.5.1.11_Optimal_Utilization_Definition-7dd3b868-b5c1-4f16-b997-8fb35a971ab1|57eaf45219be608847d6): **60%** +- [Base](https://sky-atlas.powerhouse.io/#A.3.8.1.5.1.13_Base_Rate_Definition-3ea70be9-6d09-4e25-8025-a0235dd71c28|57eaf45219be608847d6): **0%** +- [Slope1](https://sky-atlas.powerhouse.io/#A.3.8.1.5.1.15_Slope_1_Definition-20c3c3c3-432e-48ac-8336-86b8345f920e|57eaf45219be608847d6): **4%** +- [Slope2](https://sky-atlas.powerhouse.io/#A.3.8.1.5.1.16_Slope_2_Definition-e5bb5c04-c9f1-4f85-bd45-1d36269482fe|57eaf45219be608847d6): **300%** - Stable rate func (deprecated): **N/A** - Enable Borrow: **YES** - Stable Rate Borrowing: **NO** -- Isolation Borrowable: **NO** +- [Isolation Borrowable](https://sky-atlas.powerhouse.io/#A.3.8.1.5.1.20_Isolated_Borrow-9acac8ca-3870-4680-ae38-1ba3deb09fe3|57eaf45219be608847d6bfdb): **NO** - [Siloed Borrowing](https://docs.sparkprotocol.io/developers/sparklend/features/siloed-borrowing): **NO** - [Flash Loan](https://docs.sparkprotocol.io/developers/guides/flash-loans) Enabled: **YES** - [Loan To Value](https://docs.aave.com/risk/asset-risk/risk-parameters#loan-to-value): **65%** From abb9ec290c0bc76f866687ac747072601f1ac429 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 16 Sep 2024 11:39:28 -0100 Subject: [PATCH 07/10] Apply suggestions from CS's code review Co-authored-by: CivicSage3 <164015192+CivicSage3@users.noreply.github.com> --- ...reum - cbBTC Collateral Onboarding - September 16, 2024.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md index ed78f5eb7..a9bb053ed 100644 --- a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md +++ b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md @@ -40,9 +40,9 @@ The community can vote in this poll to express support or opposition to onboardi - [Siloed Borrowing](https://docs.sparkprotocol.io/developers/sparklend/features/siloed-borrowing): **NO** - [Flash Loan](https://docs.sparkprotocol.io/developers/guides/flash-loans) Enabled: **YES** - [Loan To Value](https://docs.aave.com/risk/asset-risk/risk-parameters#loan-to-value): **65%** -- [Liquidation Threshold](https://docs.aave.com/risk/asset-risk/risk-parameters#liquidation-threshold): **70%** +- [Liquidation Threshold](https://sky-atlas.powerhouse.io/#A.3.8.1.5.1.5_Liquidation_Threshold_Definition-9170a423-fba1-4fbe-83c4-f55f2510a9db|57eaf45219be608847d6): **70%** - Liquidation Bonus: **8%** -- [Reserve Factor](https://docs.aave.com/risk/asset-risk/risk-parameters#reserve-factor): **20%** +- [Reserve Factor](https://sky-atlas.powerhouse.io/#A.3.8.1.5.1.8_Reserve_Factor_Definition-3f82c59f-c575-4975-8e1b-653136c3f1fd|57eaf45219be608847d6): **20%** - [Supply Cap](https://docs.sparkprotocol.io/developers/features/supply-borrow-caps#supply-caps): **500 cbBTC** - Supply Cap (`max`): **3,000 cbBTC** - Supply Cap (`gap`): **500 cbBTC** From f94cd47d5f97e9e01c81f4aee4848b09d34da4c9 Mon Sep 17 00:00:00 2001 From: VoteWizard <139255802+VoteWizard@users.noreply.github.com> Date: Mon, 16 Sep 2024 13:14:40 -0100 Subject: [PATCH 08/10] Apply suggestions from code review Co-authored-by: CivicSage3 <164015192+CivicSage3@users.noreply.github.com> --- ...hereum - cbBTC Collateral Onboarding - September 16, 2024.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md index a9bb053ed..fe0582216 100644 --- a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md +++ b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md @@ -17,7 +17,7 @@ end_date: 2024-09-19T16:00:00 --- # Poll: SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024 -The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Ecosystem team. This Governance [Poll](https://manual.makerdao.com/governance/governance-cycle/weekly-governance-cycle#weekly-governance-cycle-definitions-mip16c1) will be active for three days beginning on Monday, September 16 at 16:00 UTC. +The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Ecosystem team. This Governance [Poll](https://sky-atlas.powerhouse.io/#A.1.9.1_Operational_Weekly_Cycle-b189fa17-57a9-4d4e-9780-0ce4efd94211|0db30308) will be active for three days beginning on Monday, September 16 at 16:00 UTC. **This is a binary vote.** From e7ce960feb76024e3636ea6a80cda56654cfa81c Mon Sep 17 00:00:00 2001 From: blimpa Date: Mon, 16 Sep 2024 11:18:15 -0300 Subject: [PATCH 09/10] Update victory conditions --- ...cbBTC Collateral Onboarding - September 16, 2024.md | 10 +++++++++- 1 file changed, 9 insertions(+), 1 deletion(-) diff --git a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md index a9bb053ed..e9e237e8a 100644 --- a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md +++ b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md @@ -4,8 +4,16 @@ summary: Signal your support or opposition to onboarding Coinbase Wrapped BTC (c discussion_link: https://forum.makerdao.com/t/sep-12-2024-proposed-changes-to-spark-for-upcoming-spell/25076 parameters: input_format: single-choice + abstain: [0] victory_conditions: - - { type : plurality } + - { + type: 'and', + conditions: [ + { type : plurality }, + { type : comparison, comparator : '>=', value: 20000 } + ] + } + - {type : default, value : 2 } result_display: single-vote-breakdown version: v2.0.0 options: From fed67eac4c83f42eb3224ef8b45059e17a90131c Mon Sep 17 00:00:00 2001 From: blimpa Date: Mon, 16 Sep 2024 11:28:58 -0300 Subject: [PATCH 10/10] Revert "Update victory conditions" This reverts commit e7ce960feb76024e3636ea6a80cda56654cfa81c. --- ...cbBTC Collateral Onboarding - September 16, 2024.md | 10 +--------- 1 file changed, 1 insertion(+), 9 deletions(-) diff --git a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md index 7b57cace5..fe0582216 100644 --- a/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md +++ b/governance/polls/SparkLend Ethereum - cbBTC Collateral Onboarding - September 16, 2024.md @@ -4,16 +4,8 @@ summary: Signal your support or opposition to onboarding Coinbase Wrapped BTC (c discussion_link: https://forum.makerdao.com/t/sep-12-2024-proposed-changes-to-spark-for-upcoming-spell/25076 parameters: input_format: single-choice - abstain: [0] victory_conditions: - - { - type: 'and', - conditions: [ - { type : plurality }, - { type : comparison, comparator : '>=', value: 20000 } - ] - } - - {type : default, value : 2 } + - { type : plurality } result_display: single-vote-breakdown version: v2.0.0 options: