Scope: Technical parameter adjustments for Stake DAO’s curated Morpho lending vaults. This includes, but is not limited to: adding or removing a lending market from a vault, adjusting supply caps, modifying collateral parameters, adjusting fees, changing roles, or any other vault parameter change.
| Parameter | Value |
|---|---|
| Forum debate period | 3 days |
| Voting period | 3 days |
| Debate and vote | Concurrent (debate and vote run in parallel) |
| Quorum | 15% of total vlSDT supply |
| Approval threshold | Simple majority (>50% of votes cast, excl. abstentions) |
| Anticipated execution | If super-quorum is reached |
Process:
- Proposal posted simultaneously on the governance forum and Snapshot.
- Debate and voting run concurrently for 3 days.
- The on-chain transaction implementing the parameter update may be submitted to the timelock during the voting period, provided that the timelock duration is at least 3 days. This means the transaction cannot be finalized before the vote concludes.
- If the vote passes (quorum met + simple majority), the timelocked transaction is allowed to execute upon timelock expiry.
- If the vote fails, the timelocked transaction must be cancelled before execution.
Rationale for concurrent execution and timelock: Lending market parameters may require timely adjustments to respond to market conditions. The 3-day duration aligns with the minimum timelock requirements of Morpho, and allows for decentralisation of the Morpho vaults while limiting the impact on the management agility of the vaults.
Lending Risk Acknowledgement:
Lending market parameter adjustments may materially impact risk exposure, liquidation thresholds, and user positions.
Participants acknowledge that such decisions involve financial risk and are made on a best-effort basis without guarantees of performance or safety.
Notice: Non-Binding Nature of Off-Chain Voting
Snapshot voting is an off-chain signalling mechanism and does not, in itself, trigger any automatic on-chain execution.
All approved proposals are subject to independent verification and discretionary execution by the DAO Multisig and/or relevant smart contract mechanisms.
Execution may be withheld where required for security, technical validation, or legal compliance.