The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Stability Facilitators. This Governance Poll will be active for three days beginning on Monday, December 30 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 the following changes:

• Increase wstETH Borrow Cap Target Available Exposure (gap) by 5,000 wstETH from 5,000 wstETH to 10,000 wstETH.
• Increase wstETH Borrow Cap Absolute Maximum Exposure (max) by 900,000 wstETH from 100,000 wstETH to 1,000,000 wstETH.
• Increase wstETH Optimal Utilization by 25 percentage points from 45% to 70%.
• Reduce wstETH Base Rate by 0.25 percentage points from 0.25% to 0%.
• Reduce Slope 1 by 2.5 percentage points from 4.5% to 2%.
• Increase Slope 2 by 120 percentage points from 80% to 200%.
• Increase Reserve Factor by 15 percentage points from 15% to 30%.

Please review the discussion thread 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:

• These changes will be included in an upcoming Executive Vote.
• 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 Sky 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 Sky Protocol, please see the voting guide to learn how voting works.

Additional information about the Governance process can be found in the Operational Manual.

To add current and upcoming votes to your calendar, please see the Sky Governance Calendar.