The Governance Facilitators and the Maker Foundation Smart Contracts Team have placed an Executive Vote into the voting system which will enable the community to approve the following alterations to the protocol.

Activate DSChief v1.2

The Maker governance contract (DSChief) is being replaced to mitigate the risk of governance attack posed by flash-loans and accessible MKR liquidity. Further details can be found here.

A step-by-step guide to the migration process can be found on the official forum.

Part 1 of the migration process took place in this previous executive vote which transferred permissions from DSChief v1.1 to DSChief v1.2. Parts 2 and 3 do not require an executive vote. This executive proposal represents the fourth and final step of the migration process.

If this proposal reaches 80,000 MKR in favor then DSChief v1.2 will be activated and Maker Governance will be able to use it to govern the Maker Protocol.

Summary

Therefore, if this Executive proposal passes the following will occur:

• DSChief v1.2 will be activated and Maker Governance will be able to use it to govern the Maker Protocol.

This Executive Vote will continue until the number of votes surpasses 80,000 MKR.

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.

Action

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

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Resources

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.

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 16:00 UTC.

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