---
title: Add RWA-008 (OFH) as a new Vault Type - July 11, 2022
summary: This poll proposes system parameters which could be used to initialize RWA-008 (OFH) as a new RWA vault type.
discussion_link: https://forum.makerdao.com/t/security-tokens-refinancing-mip6-application-for-ofh-tokens/10605
vote_type: Plurality Voting
categories:
- Collateral
- Risk Variable
- High Impact
options:
0: Abstain
1: Yes
2: No
start_date: 2022-07-11T16:00:00
end_date: 2022-07-14T16:00:00
---
# Poll: Add RWA-008 (OFH) as a new Vault Type - July 11, 2022

The Governance Facilitators have placed a Governance Poll into the [voting system](https://vote.makerdao.com/polling) on behalf of the MakerDAO mandated actors. This Governance [Poll](https://community-development.makerdao.com/en/learn/governance/on-chain-gov) will be active for three days beginning on Monday, July 11, 2022 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

This poll allows the MakerDAO governance community to signal their support or opposition to adding RWA-008 (OFH) as a new vault type in the Maker Protocol with the parameters below:

### Collateral Parameters

* [Stability Fee](https://manual.makerdao.com/parameter-index/vault-risk/param-stability-fee): 0.05%
* [Debt Ceiling](https://manual.makerdao.com/parameter-index/vault-risk/param-debt-ceiling): 30 million DAI
* [Liquidation Ratio](https://manual.makerdao.com/parameter-index/vault-risk/param-liquidation-ratio): 100%
* Liquidation Process: See [MIP21](https://forum.makerdao.com/t/mip21-real-world-assets-off-chain-asset-backed-lender/3917) for details.

Please review the following forum threads containing information about RWA-008 (OFH) to inform your position before voting

* [Initial Collateral Application](https://forum.makerdao.com/t/security-tokens-refinancing-mip6-application-for-ofh-tokens/10605)
* [Real-World Finance Core Unit Risk Evaluation](https://forum.makerdao.com/t/sg-forge-socgen-risk-assessment/15638)
* [Additional Risk Assessment - LOVE](https://forum.makerdao.com/t/sg-forge-socgen-risk-assessment/15638/14)
* [Collateral Engineering Services Core Unit Evaluation](https://forum.makerdao.com/t/rwa008-ofh-mip21-token-ces-domain-team-assessment/15239)
* [Oracles Core Unit Evaluation](https://forum.makerdao.com/t/rwa-008-ofh-collateral-onboarding-oracle-assessment/15268)
* [SocGen Transaction Documentation](https://api.ipfsbrowser.com/ipfs/get.php?hash=QmW1UBVjPtHDo42oNzG2vspwggyeBfENS1xsPtpKLyDBvb)
* [Delegated Committee Proposal](https://forum.makerdao.com/t/real-world-finance-decision-making-and-delegated-committee-proposal/15276)

### Legal Documentation

The instruction letter will be executed as part of the Governance Poll - see [details](https://api.ipfsbrowser.com/ipfs/get.php?hash=QmW1UBVjPtHDo42oNzG2vspwggyeBfENS1xsPtpKLyDBvb) - and is a necessary precondition to the execution of other transaction agreements (DAI Loan Agreement and Pledge Agreement). These other transaction agreements will be executed subsequent to the Governance Poll and Executive should the Governance Poll have a positive outcome (i.e. if votes for “Yes” exceed votes for “No”).

## Outcomes

**If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:**
* RWA-008 (OFH) will be onboarded in a future executive vote as the Protocol Engineering Core Unit's schedule allows.
* 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://community-development.makerdao.com/en/learn/governance/how-voting-works/) to learn how voting works, and this [wallet setup guide](https://community-development.makerdao.com/en/learn/governance/voting-setup/) to set up your wallet to vote.

Additional information about the Governance process can be found in the [Governance](https://community-development.makerdao.com/en/learn/governance) section of the MakerDAO community portal.

To participate in future Governance calls, please [join us](https://github.com/makerdao/community/tree/master/governance/governance-and-risk-meetings) every Thursday at 17:00 UTC.

To add current and upcoming votes to your calendar, please see the [MakerDAO Public Events Calendar](https://calendar.google.com/calendar/embed?src=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com&ctz=UTC&mode=week&showCalendars=0&showPrint=0).