---
# System prepended metadata

title: 'Maker Governance Review: June'
tags: [Monthly Governance Review]

---

---
tags: Monthly Governance Review
---

![](https://i.imgur.com/T4OFksC.jpg)

# Maker Governance Review: June

## Top Governance News

The month of June was quite productive! Beyond some usual stuff like budget distributions to 7 Core Units, we also had the final 8 vaults added to the Liquidations 2.0 framework, with stablecoin liquidations all being [disabled](https://forum.makerdao.com/t/architectural-debt-cleanup-migrating-remaining-collaterals-to-liquidations-2-0/8515), maintaining the same case as before. We also saw the launch of the BRAND NEW Dai Flash Mint Module, [DssFlash](https://github.com/makerdao/dss-flash). The Global Debt Ceiling increased by 500 million DAI in order to allow continued usage of the Maker Protocol. An urgent Debt Ceiling adjustment for the PSM-USDC-A from 3 billion DAI to 4 billion DAI was passed. And finally, Payton Rose was [onboarded](https://vote.makerdao.com/polling/QmXqB41P?network=mainnet#poll-detail) as Governance Facilitator for [GovAlpha](https://forum.makerdao.com/t/mip39c2-sp3-governance-core-unit-gov-001/6348)!

## Key Outcomes

### Maker Improvement Proposals

There was no bundled MIPs Executive vote during June 2021, and there will no longer be one moving forward due to the [new Governance Cycle](https://mips.makerdao.com/mips/details/MIP51) process passed in May. Instead, the month included 7 Ratification Polls, which all passed:

* [MIP54: DssVest](https://vote.makerdao.com/polling/QmPfjETk#poll-detail)
* [GovAlpha Facilitator Onboarding](https://vote.makerdao.com/polling/Qme5m5rR#poll-detail)
* [Subproposal Set for Oracles Core Unit (ORA-001)](https://vote.makerdao.com/polling/QmNRGQwN#poll-detail)
* [Modify Budget for GOV-001 Core Unit](https://vote.makerdao.com/polling/QmXqB41P#poll-detail)
* [Modify Budget for RISK-001 Core Unit](https://vote.makerdao.com/polling/QmcAkqid#poll-detail)
* [Modify Budget for RWF-001 Core Unit](https://vote.makerdao.com/polling/QmcVDjiz#poll-detail)
* [MKR Compensation Budget for Sustainable Ecosystem Scaling Core Unit (SES-001)](https://vote.makerdao.com/polling/QmSmhV7z#poll-detail)

### Parameter Changes & Vault Upgrades

#### Stability Fee Management

* UNIV2DAIUSDC-A Stability Fee [decreased](https://vote.makerdao.com/executive/template-executive-vote-parameter-changes-oracle-whitelisting-other-changes-june-11-2021?network=mainnet#proposal-detail) from 1.0% to 0.5%.

Along with a number of other decreases proposed by the parameter proposal group, [view a detailed breakdown here](https://forum.makerdao.com/t/parameter-changes-proposal-ppg-omc-001-1-june-2021/8476).

![](upload://gL3ncNpqzbuAKPJRsyJxp43WlDI.jpeg)

#### Debt Ceiling Management & Optimizations

* Global Debt Ceiling increased by 500 million DAI.
* PSM-USDC-A Debt Ceiling increased from 3 billion DAI to 4 billion DAI.
* ETH-B Debt Ceiling increased from 50 million DAI to 300 million DAI.
* YFI-A Debt Ceiling increased from 90 million DAI to 130 million DAI.
* ZRX-A Debt Ceiling decreased from 10 million DAI to 3 million DAI.
* LRC-A Debt Ceiling decreased from 5 million DAI to 3 million DAI.
* COMP-A Debt Ceiling decreased from 30 million DAI to 20 million DAI.

#### Debt Floor Management

* General Debt Floor increased for all Vault types except PSM-USDC-A, ETH-B, and ETH-C from 5,000 DAI to 10,000 DAI.
* ETH-B Debt Floor increased from 15,000 DAI to 30,000 DAI.

#### Liquidation Ratio Management

* UNIV2DAIUSDC-A Vault Type Liquidation Ratio lowered from 105% to 102%.

#### Target Available Debt Management

* ETH-A gap increased from 80 million DAI to 100 million DAI.
* ETH-B gap increased from 5 million DAI to 10 million DAI.
* WBTC-A gap increased from 15 million DAI to 30 million DAI.
* YFI-A gap increased from 5 million DAI to 7 million DAI.
* UNI-A gap increased from 3 million DAI to 5 million DAI.
* ZRX-A gap decreased from 1 million DAI to 500 thousand DAI.
* LRC-A gap decreased from 1 million DAI to 500 thousand DAI.

#### Local Liquidation Limit Management

* ETH-A Local Liquidation Limit increased from 22 million DAI to 30 million DAI
* ETH-B Local Liquidation Limit increased from 8 million DAI to 15 million DAI
* ETH-C Local Liquidation Limit increased from 5 million DAI to 20 million DAI

#### Vault Upgrades

As part of the Protocol Engineering Core Unit [architectural debt cleanup](https://forum.makerdao.com/t/architectural-debt-cleanup-migrating-remaining-collaterals-to-liquidations-2-0/8515), [stablecoin vaults have been upgraded](https://vote.makerdao.com/executive/template-executive-vote-june-core-unit-budget-distributions-other-changes-june-4-2021?network=mainnet#proposal-detail). Maintaining the case from before, Liquidations have been disabled for all these vaults.

Added to the Liquidations 2.0 framework, though liquidations remain disabled:

* USDC-A
* USDC-B
* TUSD-A
* PAXUSD-A
* GUSD-A
* PSM-USDC-A.
* UNIV2DAIUSDC-A.
* USDT-A.

#### Oracle Whitelisting

Yearn Finance [has been added](https://vote.makerdao.com/executive/template-executive-vote-parameter-changes-oracle-whitelisting-other-changes-june-11-2021?network=mainnet#proposal-detail) to the following Oracles:

* UNIUSD
* LINKUSD
* AAVEUSD
* COMPUSD

### Community Greenlight Polls

Greenlight Polls allow MKR token holders to signal their preferences for collateral types proposed through [Collateral Onboarding Applications](https://forum.makerdao.com/c/MIPs/co/17). The community greenlight polls occur at fixed times each governance cycle, starting on the 1st and 3rd Mondays of the month and running for a period of 2 full weeks.

The month of June had four Community Greenlight polls that began June 21st and ended on July 5th:

| Asset   | Voted Yes              | Voted No             | Voted Abstain        |
|---------|------------------------|----------------------|----------------------|
| GNO     | 35,738.56 MKR (96.45%) | 1,303.67 MKR (3.52%) | 10.45 MKR (0.03%)    |
| MC-DROP | 24,545.14 MKR (68.14%) | 9,867.32 MKR (27.39% | 1,607.11 MKR (4.46%) |
| HPT     | 30,160.01 MKR (83.73%) | 4,903.46 (13.61%)    | 956.16 MKR (2.65%)   |
| MATIC   | 32,277.46 MKR (89.61%) | 2,027.44 MKR (5.63%) | 1,714.94 MKR (4.76%) |

Check the progress of all proposed collateral types in the [Collateral Status Index.](https://forum.makerdao.com/t/collateral-status-index/2231)

## What’s Ahead?

![](upload://t0gjCEJ6WF7HY670qQKGVc5yPWM.png)

July is here, and there are some things to watch out for;

Voters should be aware of an active [Executive Vote](https://vote.makerdao.com/executive/template-executive-vote-rates-changes-july-core-unit-budgets-and-psm-dc-iam-july-2-2021?network=mainnet#proposal-detail) that began Friday, July 2nd, and, if passed, will trigger July’s Core Unit budget distributions in addition to a wave of stability fee decreases and activation of the USDC-PSM’s Instant Access Module-Debt Ceiling coupled with a large raise of that debt ceiling to 10 billion.

Formal submissions are open from July 5th to July 7th 4:00 PM UTC; check out eligible proposals below. Submissions will be reviewed on July 8th during the weekly [Governance and Risk Call](https://forum.makerdao.com/c/governance/gnr/8). Heads up to MKR holders who might be out of the loop, we are entering our second month using the [new Governance Cycle](https://mips.makerdao.com/mips/details/MIP51).

| Proposal Eligible for Formal Submission | Author |
|-|-|
| [MIP40c3-SP19: Growth Core Unit Budget, GRO-001](https://forum.makerdao.com/t/mip40c3-sp19-growth-core-unit-budget-gro-001/8643) | Nadia |
| [MIP39c2-SP15: Adding AmaZix Marketing Core Unit, AMZX-001](https://forum.makerdao.com/t/mip39c2-sp15-adding-amazix-marketing-core-unit-amzx-001/8647/68) | Mitchel_AmaZix |
| [MIP40c3-SP20: Adding Budget to AmaZix Marketing Core Unit, AMZX-001](https://forum.makerdao.com/t/mip40c3-sp20-adding-budget-to-amazix-marketing-core-unit-amzx-001/8649/1) | Mitchel_AmaZix |
| [MIP41c4-SP16: Facilitator Onboarding For The AmaZix Marketing Core Unit, AMZX-001](https://forum.makerdao.com/t/mip41c4-sp16-facilitator-onboarding-for-the-amazix-marketing-core-unit-amzx-001/8650/2) | Mitchel_AmaZix |
| [MIP39c2-SP14: Add Strategic Marcomms Core Unit](https://forum.makerdao.com/t/mip39c2-sp14-add-strategic-marcomms-core-unit/8617/3) | Kathleen |
| [MIP40c2-SP18: Add Core Unit Budget, CPM-001](https://forum.makerdao.com/t/mip40c2-sp18-add-core-unit-budget-cpm-001/8618/2) | Kathleen |
| [MIP41c4-SP15: Facilitator Onboarding, CPM-001](https://forum.makerdao.com/t/mip41c4-sp15-facilitator-onboarding-cpm-001/8619/1) | Kathleen |
| [MIP55: Special Purpose Fund (SPF)](https://forum.makerdao.com/t/mip55-special-purpose-fund-spf/8624) | amyjung |
| [MIP40c3-SP21: Modify Core Unit Budget - MKT-001](https://forum.makerdao.com/t/mip40c3-sp18-modify-core-unit-budget-mkt-001/8427) | seth |
| [MIP39c2-SP12: Adding Collateral Engineering Services Core Unit](https://forum.makerdao.com/t/mip39c2-sp12-adding-collateral-onboarding-core-unit/8037) | monkey.irish |
| [MIP40c3-SP14: Modify Collateral Engineering Services Core Unit Budget](https://forum.makerdao.com/t/mip40c3-sp14-modify-collateral-onboarding-core-unit-budget/8038) | monkey.irish |
| [MIP41c4-SP14: Facilitator Onboarding, Collateral Onboarding Core Unit](https://forum.makerdao.com/t/mip41c4-sp14-facilitator-onboarding-collateral-engineering-services-core-unit/8039) | monkey.irish |
| [MIP39c2-SP11: Strategic Happiness Core Unit](https://forum.makerdao.com/t/mip39c2-sp11-strategic-happiness-core-unit/8006) | aburban90 |
| [MIP40c3-SP16: The Strategic Happiness Core Unit Budget, SH-001](https://forum.makerdao.com/t/mip40c3-sp16-the-strategic-happiness-core-unit-budget-sh-001/8007) | aburban90 |
| [MIP41c4-SP11: Shitpost Facilitator Onboarding, Strategic Happiness Core Unit, SH-001](https://forum.makerdao.com/t/mip41c4-sp11-shitpost-facilitator-onboarding-strategic-happiness-core-unit-sh-001/8008) | aburban90 |
| [MIP52: Dispute Resolution](https://forum.makerdao.com/t/mip52-dispute-resolution/7845/38) | g_dip |
| [MIP39c2-SP8: Governance Communications Core Unit, COM-001](https://forum.makerdao.com/t/mip39c2-sp8-governance-communications-core-unit-com-001/7009) | davidutro |
| [MIP40c3-SP8: Modify Core Unit Budget, COM-001](https://forum.makerdao.com/t/mip40c3-sp8-modify-core-unit-budget-com-001/7010) | davidutro |
| [MIP41c4-SP8: Facilitator Onboarding, COM-001](https://forum.makerdao.com/t/mip41c4-sp8-facilitator-onboarding-com-001/7011) | davidutro |

There is currently an [active Greenlight Poll for 0xBTC](https://vote.makerdao.com/polling/Qmd5WNP1?network=mainnet#poll-detail). Keep an eye on the weekly [Maker Relay](https://forum.makerdao.com/tag/maker-relay) to find out if there will be a second set of greenlight polls later this month.

A new upgrade is coming to the [MIPs Portal](https://mips.makerdao.com/mips/list?&search=) that includes layout upgrades, bug fixes, improved server infrastructure, and improved user interface.

LongForWisdom and the GovAlpha Team will be submitting templates for [Delegation](https://forum.makerdao.com/t/governance-and-delegation/7455) and initiating a “Meet Your Delegates” series of public meetings. In addition, GovAlpha will be posting their first Quarterly Review.

Check out all the MIP proposals in [request for comments](https://forum.makerdao.com/c/mips/rfc/15) stage, and be sure to leave some feedback! Did you know you can get rewarded with Dai for RFC feedback and other forum activity by [Opting-in with SourceCred](https://forum.makerdao.com/t/what-is-sourcecred-and-how-do-i-opt-in/3913)?

## Resources

[Public Google Calendar.
](https://calendar.google.com/calendar/u/0?cid=bWFrZXJkYW8uY29tXzNlZmhtMmdoaXBrc2VnbDAwOWt0bmlvbWRrQGdyb3VwLmNhbGVuZGFyLmdvb2dsZS5jb20)Bookmark or Subscribe to this calendar for Votes and Public Calls.

[Forum](https://forum.makerdao.com/) and [Maker Chat.
](https://chat.makerdao.com/)Discuss and debate MakerDAO.

[Participation Tools.
](https://community-development.makerdao.com/en/learn/governance/participate)Library of useful links for Stakeholders; Protocol analytics, Dai analytics, collateral & liquidation metrics, governance history, and auction data.

[Governance Portal.
](https://makerdao.com/en/governance)Voting dashboard for MKR voters.

[Learning Portal](https://community-development.makerdao.com/en/learn/) | [Technical Documentation Portal](https://docs.makerdao.com/) | [MIPs Portal.
](https://mips.makerdao.com/)Learn more about the Maker protocol.

[MIP51: Monthly Governance Cycle](https://github.com/makerdao/mips/blob/master/MIP51/mip51.md) | [MIP16: Weekly Governance Cycle.
](https://github.com/makerdao/mips/blob/master/MIP16/mip16.md#mip16-the-weekly-governance-cycle)Learn more about the Governance activities that occur during the Monthly and Weekly Governance Cycles.

---

Big thanks to [@Davidutro](https://forum.makerdao.com/u/davidutro) and [@Artemisios](https://forum.makerdao.com/u/artem_gordon) for helping put together this Governance Review ![:heart:|20x20](upload://wgDg8FXy8byfKNUomcqHRCChPDz.png ":heart:")