Executive Vote: Approve April 2021 Governance Cycle

April 26, 2021

The Governance Facilitator(s) and the MakerDAO Smart Contracts Domain Team have placed an executive proposal into the voting system. MKR Holders should vote for this proposal if they support the following alterations to the Maker Protocol.

If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works, and this wallet setup guide to set up your wallet to vote.

Executive Summary

If this Executive proposal passes the following MIP status changes will occur:

MIP Amendments and Declaration of Intent

  • Approve MIP4c2-SP7: MIP4 Amendments
  • Approve MIP4c2-SP8: MIP 9 Amendments
  • Approve MIP4c2-SP13: MIP0 Amendments
  • MIP13c3-SP10: Declaration of Intent - eurDai will move to Accepted Status

Core Unit Onboarding

  • MKT-001, Content Production Core Unit Proposals will move to Accepted status.
  • GRO-001, Growth Core Unit Proposals will move to Accepted status.
  • MDS-001, MakerDAO Shop Core Unit Proposals will move to Accepted status.
  • PE-001, Protocol Engineering Core Unit Proposals will move to Accepted status.

Budget Approvals

  • Approve Content Production Core Unit (MKT-001) Budget of 44,375 DAI per month for three months.
  • Approve Growth Core Unit (GRO-001) Budget of 126,117 DAI per month for three months.
  • Approve MakerDAO Shop (MDS-001) Budget of 0 DAI with 50/50 profit sharing with the protocol.
  • Approve Protocol Engineering Core Unit (PE-001) Budget of 510,000 DAI per month for one year.
    • Approve 995 MKR supply to each Full-Time Protocol Engineering Core Unit Member, to be vested over a 4 year period. Currently a sum of 9950 MKR.
    • Approve 497.5 MKR supply to each Part-Time Protocol Engineering Core Unit Member, to be vested over a 4 year period. Currently a sum of 497.5 MKR.
    • Total MKR allocation will not exceed the equivalent of 15 full-time contributors and 1 part-time contributor, or 15,422.5 MKR over a 4 year period.

Budget Payouts

  • 510,000 DAI will be distributed to the Protocol Engineering Core Unit Multisig for funding Core Unit expenses.
  • 1.3M DAI will be distributed to the Protocol Engineering Continuous Operation Multisig, only to be used when the protocol will not provide pre-approved funding.

Domain Rights

  • MakerDAO Shop Core Unit will be granted the exclusive right to the shop.makerdao.com domain, until revoked by Governance.

Voting for this executive proposal will place your MKR in support of the changes and additions outlined above.

This Executive Vote will be valid for 4 days then it will expire and have no effect on the Maker Protocol, even if it should later pass.

As a continuous approval vote, the proposal will pass when the number of votes in favor surpasses the votes in favor of the previously leading proposal.

Proposal Details

If this Executive Proposal passes the following MIPs and Subproposals will move to Accepted status:

Amendments

  • MIP4c2-SP7: MIP4 Amendments
    • Allows MIP amendments to use the Weekly Governance Cycle for the first 3 months after a MIP has passed.
    • Allows for multiple MIP amendments to happen in one proposal.
  • MIP4c2-SP8: MIP 9 Amendments
    • Introduces a second Collateral Greenlight poll date on the 1st Monday of each month.
  • MIP4c2-SP13: MIP0 Amendments
    • Adds a procedure for tagging MIP Sets and clarifies the responsibilities of relevant actors.

Declarations of Intent

Core Unit MIP Sets

Note: Upon passage of this vote the following distributions will occur

  • 510,000 DAI to 0xe2c16c308b843eD02B09156388Cb240cEd58C01c, the Protocol Engineering Core Unit Multisig.
  • 1.3M DAI to 0x83e36aAA1c7b99E2D3d07789F7b70FCe46f0d45E, the Protocol Engineering Continuous Operation Multisig, which is only to be used when the protocol will not provide pre-approved funding.
    • This Multisig requires 3 of 6 signatories and is administered by:
      • Derek (Protocol Engineering): 0xe3a76328edE8Fd61d5fA7840b878Dd69cdfD67d8
      • Nadia (Growth CU): 0xc8E6c287F6c127AFE5e4CB30bC440607b44c35f8
      • LongForWisdom (GovAlpha) : 0x66f40F044E0e2F77bB746e3275E82e88dCBA2D69
      • Primoz (Risk CU): 0x5d67d5B1fC7EF4bfF31967bE2D2d7b9323c1521c
      • SebVentures (RWF): 0x0D61C8b6CA9669A36F351De3AE335e9689dd9C5b
      • Cmooney (Protocol Engineering): 0xEeF3026eF864C9398c008195E65d16D9cb42a512

Review

Community debate on these topics can be found on the MakerDAO Governance forum. Please review any linked threads to inform your position before voting.

Additionally, these changes may have been discussed further in recent Governance calls. Video for these calls is available to review.

Resources

Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.

To participate in future Governance calls, please join us every Thursday at 17:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.

April 26, 2021

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