The latest Executive Vote has been approved by Maker Governance. ↓ https://t.co/uGCRHTjVOb The following changes will be executed within the Maker Protocol on June 5th, at 21:36 UTC: ⚡ Trigger Spark Proxy Spell A Spark proxy spell at 0x7bcDd1c8641F8a0Ef98572427FDdD8c26D642256 will trigger the following changes: SparkLend Interest Rate Model Update Ethereum • ETH: Reduce slope 1 to 2.5%. • USDC and USDT: Change slope 1 to DSR + 1% and reduce slope 2 to 15%. These adjustments make borrowing rates for ETH, USDC, and USDT more competitive and efficient. Gnosis Chain • ETH: Reduce slope 1 to 2.5%, and reduce optimal utilization to 80%. • DAI: Reduce slope 1 to 9%, reduce slope 2 to 15% and increase optimal utilization to 95%. • USDC, USDT, and EURe: Reduce slope 1 to 9%, reduce slope 2 to 15%, and increase optimal utilization to 95%. These interest rate changes enhance borrowing efficiency and utilization on Gnosis Chain. Update Spark’s MetaMorpho Vault Supply Caps • Increase the supply cap of the sUSDe 91.5% LLTV pool to 100 million DAI. • Increase the supply cap of the sUSDe 86% LLTV pool to 400 million DAI. These changes, driven by market trends and user demand, allow for more DAI to be supplied, potentially increasing liquidity. Turn Off Siloed Borrowing for All Stablecoins • Turn off siloed borrowing for USDC and USDT on both Ethereum and Gnosis. • Turn off siloed borrowing for EURe on Gnosis. Removing borrowing restrictions for these stablecoins simplifies borrowing across the platform. Disable Governance Bridge Security Delay The bridge security delay for SparkLend governance on Gnosis will be reduced from 2 days to 0 days to streamline operations. 🔥 Smart Burn Engine (SBE) Parameter Updates • The vow.hump (SBE Surplus Buffer Upper Limit) parameter will be increased to 55 million DAI. This parameter sets the threshold for the Smart Burn Engine (SBE) to initiate transactions. The change, recommended by BA Labs, will enhance system resilience and reduce risks. 🏦 Approve RWA Foundation (RWAF) DAO Resolution • RWAF DAO Resolution with IPFS hash Qmb8vLDH6wT4Y2axnJX1JSKVKHTG3jzX3U3novw886H8UR. The resolution instructs the Director of RWAF to start the process of finding and onboarding an appropriate banking partner for RWAF. 🏛️ Approve Harbor Trade Credit (RWA004-A) DAO Resolution • RWA004-A DAO Resolution with IPFS hash QmUiYTRy4BkV681tfFe3Ksj6gdLEq27w34MqLw5LvRaBoD. The resolution allows the DAO to support HTC's case against Snakebyte in Germany and cover the legal costs.