Governance Polls: Collateral Onboarding, Signal Requests, Ratification

July 12, 2021

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO Open Market Committee.

Poll: Add MATIC as a new Vault Type

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This Governance Poll will be active for three days beginning on Monday, July 12 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

This poll allows the MakerDAO governance community to signal their support or opposition to adding MATIC (Polygon) as a new vault type in the Maker Protocol with the parameters below:

Initial Collateral Parameters

Liquidation Parameters

Limits

Incentives

Please review the following forum threads containing information about MATIC (Polygon) to 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:

  • MATIC (Polygon) will be onboarded in a future executive vote as the Protocol Engineering Core Unit's schedule allows.
  • 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 Maker 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.

Poll: Adjust FLAP Auction Parameters

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Community. This Governance Poll will be active for three days beginning on Monday, July 12 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

FLAP auctions refer to the Maker Protocol's System Surplus Auctions. These auctions sell off DAI revenue from Stability Fees and Liquidation Fees in exchange for MKR which is then burned.

The community can vote in this poll to express support or opposition to the following change:

  • Decrease the Bid Duration (ttl) for FLAP auctions from 60 minutes to 30 minutes.

Please review the discussion thread to help inform your position before voting.

More information on these parameters can be found here.

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 the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then these changes will become active in the Maker 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.

Poll: Increase the RWA-02 (NS-DROP) Debt Ceiling

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Governance Community. This Governance Poll will be active for three days beginning on Monday, July 12 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

MKR Token Holders may vote in this poll to express support or opposition to adjusting the RWA-02 (NS-DROP) Debt Ceiling:

  • Increase from 5 million DAI to 20 million DAI.

Please review the discussion thread to inform your position on this issue before voting.

Outcomes

If the votes for the 'Yes' option exceed the votes for the 'No' option then the following actions will be taken:

  • This parameter change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.
  • If the Friday executive passes, then this parameter change will become active in the Maker 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.

Ratification Poll for Governance Communications Core Unit, COM-001

The Governance Facilitators have placed a ratification poll into the voting system as part of the responsibilities defined in MIP51. This Governance Poll will be active for fourteen days beginning on Monday, July 12 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 may vote in this poll to express support or opposition to the Governance Communications Core Unit being accepted and implemented in the Maker Protocol.

MIP39c2-SP8: Governance Communications Core Unit, COM-001

A brief summary of this proposal has been provided by the MIP Author and is shown below:

The Governance Communications Core Unit performs a complementary set of resources and services that focus on MakerDAO’s informational accessibility and communication practices as a public organization.

Please review the links below to inform your position on this proposal before voting.

MIP40c3-SP8: Modify Core Unit Budget, COM-001

A brief summary of this proposal has been provided by the MIP Author and is shown below:

This initial budget, for 163,200 Dai, provides five months of runway, August 2021 - Dec 2021. In the next year, we intend to submit bi-annual budgets, covering 6 months at a time unless otherwise prefered by MakerDAO. The annual budget figure is $486,000.

A vote to ratify this MIP means MKR holders make a commitment to:

  • An initial five month (Q3-Q4) budget.
  • A continuous monthly funding model.
  • A 3-month runway reserve, held in a protocol-owned multi-sig.
  • An MKR vesting package for COM-001, with details being determined in the near future.

Please review the links below to inform your position on this proposal before voting.

MIP41c4-SP8: Facilitator Onboarding, COM-001

A brief summary of this proposal has been provided by the MIP Author and is shown below:

MIP41c4-SP8 onboards David Utrobin as Facilitator for Core Unit COM-001: Governance Communications.

Please review the links below to inform your position on this proposal before voting.

Outcomes

This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.

If the votes for the 'Yes' option exceed the votes for the 'No' option AND the votes for the 'Yes' option exceed 10,000 MKR, then the following actions will be taken:

  • The MIP Editors will mark these proposals Accepted and the Governance Facilitators will confirm their passage on the Governance and Risk call on Thursday, July 29.
  • Any further work required to implement these proposals will be tasked to the relevant Core Units.

Otherwise, this proposal will be marked as rejected per MIP51.

Ratification Poll for Collateral Engineering Services, CES-001

The Governance Facilitators have placed a ratification poll into the voting system as part of the responsibilities defined in MIP51. This Governance Poll will be active for fourteen days beginning on Monday, July 12 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 may vote in this poll to express support or opposition to the Collateral Engineering Services Core Unit being accepted and implemented in the Maker Protocol.

MIP39c2-SP12: Adding Collateral Engineering Services Core Unit

A brief summary of this proposal has been provided by the MIP Author and is shown below:

MIP39c2-SP12 adds Collateral Engineering Services Core Unit, CES-001.

Please review the links below to inform your position on this proposal before voting.

MIP40c3-SP14: Modify Collateral Engineering Services Core Unit Budget

A brief summary of this proposal has been provided by the MIP Author and is shown below:

MIP40c3-SP14 adds the budget for Core Unit CES-001: Collateral Engineering Services.

Please review the links below to inform your position on this proposal before voting.

MIP41c4-SP14: Facilitator Onboarding, Collateral Engineering Services Core Unit

A brief summary of this proposal has been provided by the MIP Author and is shown below:

MIP41c4-SP14 onboards @monkey.irish as Facilitator for the Collateral Engineering Services Core Unit.

Please review the links below to inform your position on this proposal before voting.

Outcomes

This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.

If the votes for the 'Yes' option exceed the votes for the 'No' option AND the votes for the 'Yes' option exceed 10,000 MKR, then the following actions will be taken:

  • The MIP Editors will mark these proposals Accepted and the Governance Facilitators will confirm their passage on the Governance and Risk call on Thursday, July 29.
  • Any further work required to implement these proposals will be tasked to the relevant Core Units.

Otherwise, this proposal will be marked as rejected per MIP51.

Ratification Poll for Strategic Marcomms Core Unit

The Governance Facilitators have placed a ratification poll into the voting system as part of the responsibilities defined in MIP51. This Governance Poll will be active for fourteen days beginning on Monday, July 12 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 may vote in this poll to express support or opposition to the Strategic Marcomms Core Unit being accepted and implemented in the Maker Protocol.

Add Strategic Marcomms Core Unit

A brief summary of this proposal has been provided by the MIP Author and is shown below:

MakerDAO has entered its next stage of growth. In six months, DAI circulation has more than quadrupled to 4.7 billion from 1 billion in November 2020. The surge takes place as the stablecoin market expanded exponentially in the past year.

Given the pace of growth in the current market environment, the unit believes it is a crucial time for MakerDAO to increase marketing initiatives to drive growth, maintain thought leadership, and gain market share.

Please review the links below to inform your position on this proposal before voting.

Add Core Unit Budget, CPM-001

A brief summary of this proposal has been provided by the MIP Author and is shown below:

The unit seeks to accelerate the growth of MakerDAO by providing a cohesive global branding with a strong focus on collaboration and coordination.

Please review the links below to inform your position on this proposal before voting.

Facilitator Onboarding, CPM-001

A brief summary of this proposal has been provided by the MIP Author and is shown below:

Individuals’ lives can be improved immensely when they have access to open finance and an unbiased, stable currency. That is what MakerDAO and Dai offer, which is also why I am applying to become a Facilitator. As someone passionate about equality, I want to utilize my expertise in marketing & PR and decades of experience as a former Bloomberg journalist to promote and share MakerDAO and Dai’s benefits.

Please review the links below to inform your position on this proposal before voting.

Outcomes

This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.

If the votes for the 'Yes' option exceed the votes for the 'No' option AND the votes for the 'Yes' option exceed 10,000 MKR, then the following actions will be taken:

  • The MIP Editors will mark these proposals Accepted and the Governance Facilitators will confirm their passage on the Governance and Risk call on Thursday, July 29.
  • Any further work required to implement these proposals will be tasked to the relevant Core Units.

Otherwise, this proposal will be marked as rejected per MIP51.

Inclusion Poll for Adding AmaZix Marketing Core Unit

The Governance Facilitators have placed a ratification poll into the voting system as part of the responsibilities defined in MIP51. This Governance Poll will be active for fourteen days beginning on July 12, 2021 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 may vote in this poll to express support or opposition to the AmaZix Marketing Core Unit being accepted and implemented in the Maker Protocol.

Adding AmaZix Marketing Core Unit

A brief summary of this proposal has been provided by the MIP Author and is shown below:

The purpose of this MIP is to propose AmaZix as a global strategic marketing partner for MakerDAO to help Dai achieve rapid growth and mass adoption through the implementation of a highly aggressive, dynamic, and efficient marketing strategy.

Please review the links below to inform your position on this proposal before voting.

Adding Budget to AmaZix Marketing Core Unit, AMZX-001

A brief summary of this proposal has been provided by the MIP Author and is shown below:

This Core Unit Budget modification pertains to the AmaZix Marketing Proposal, aimed at helping MakerDAO achieve rapid growth and mass adoption through the implementation of a highly aggressive, dynamic, and efficient marketing strategy.

Please review the links below to inform your position on this proposal before voting.

Facilitator Onboarding For The AmaZix Marketing Core Unit, AMZX-001

A brief summary of this proposal has been provided by the MIP Author and is shown below:

I am applying to become a facilitator in order to act as the main point of contact for the AmaZix Marketing Proposal Core Unit (AMZX-001).

Please review the links below to inform your position on this proposal before voting.

Outcomes

This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.

If the votes for the 'Yes' option exceed the votes for the 'No' option AND the votes for the 'Yes' option exceed 10,000 MKR, then the following actions will be taken:

  • The MIP Editors will mark these proposals Accepted and the Governance Facilitators will confirm their passage on the Governance and Risk call on Thursday, July 29.
  • Any further work required to implement these proposals will be tasked to the relevant Core Units.

Otherwise, this proposal will be marked as rejected per MIP51.

Ratification Poll for Growth Core Unit Budget, GRO-001

The Governance Facilitators have placed a ratification poll into the voting system as part of the responsibilities defined in MIP51. This Governance Poll will be active for fourteen days beginning on Monday, July 12 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 may vote in this poll to express support or opposition to the Growth Core Unit Budget being accepted and implemented in the Maker Protocol.

A brief summary of this proposal has been provided by the MIP Author and is shown below:

This budget proposal covers a total of 3 months (August, September, and October of 2021). During these three months, our focus will be on:

  • We have 93 opportunities at the last stages of the Growth Process cycle. We will drive these opportunities to the next step by launching adoption campaigns with our partners.
  • Institutional vaults: we will find the proper implementation with the Maker community and larger vault users.
  • Dai in other Networks: Increase Dai usage in other networks like Polygon and Solana.

Growth CU is asking for a total of 937,950 DAI over three months. 437,950 DAI will cover operations, and 500,000 DAI will cover the work we’ll do with our partners in the latest stages of the Growth Cycle (adoption campaigns, educational content, etc.).

Please review the links below to inform your position on this proposal before voting.

Outcomes

This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.

If the votes for the 'Yes' option exceed the votes for the 'No' option AND the votes for the 'Yes' option exceed 10,000 MKR, then the following actions will be taken:

  • The MIP Editors will mark the proposal Accepted and the Governance Facilitators will confirm its passage on the Governance and Risk call on Thursday, July 29.
  • Any further work required to implement the proposal will be tasked to the relevant Core Units.

Otherwise, this proposal will be marked as rejected per MIP51.

Ratification Poll for Special Purpose Fund (MIP55)

The Governance Facilitators have placed a ratification poll into the voting system as part of the responsibilities defined in MIP51. This Governance Poll will be active for fourteen days beginning on Monday, July 12 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 may vote in this poll to express support or opposition to the Special Purpose Fund (MIP55) being accepted and implemented in the Maker Protocol.

A brief summary of this proposal has been provided by the MIP Author and is shown below:

A Special Purpose Fund (SPF) is used to fulfill a narrow, specific or temporary objective, where approved funds are locked in escrow, releasable by a minimum of 2/3 signers, where at least 2 signers (called Comptrollers) are mandated actors or community members appointed by mandated actors.

  • Funding is only available in Dai.
  • A SPF must contain one Point of Contact (from the SPF receiver) and a minimum of two Comptrollers. Comptrollers execute payouts to final recipients based on the completion of milestones stated in the SPF Scope.
  • Any SPF requests less than 50,000 Dai can go into a weekly or signal request process, but anything greater than 50,000 Dai must go through the monthly governance cycle.

Please review the links below to inform your position on this proposal before voting.

Outcomes

This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.

If the votes for the 'Yes' option exceed the votes for the 'No' option AND the votes for the 'Yes' option exceed 10,000 MKR, then the following actions will be taken:

  • The MIP Editors will mark the proposal Accepted and the Governance Facilitators will confirm its passage on the Governance and Risk call on Thursday, July 29.
  • Any further work required to implement the proposal will be tasked to the relevant Core Units.

Otherwise, this proposal will be marked as rejected per MIP51.

Ratification Poll for Modifying the Content Production Core Unit Budget, MKT-001

The Governance Facilitators have placed a ratification poll into the voting system as part of the responsibilities defined in MIP51. This Governance Poll will be active for fourteen days beginning on Monday, July 12 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 may vote in this poll to express support or opposition to MIP40c3-SP21: Modify Core Unit Budget, MKT-001 being accepted and implemented in the Maker Protocol.

A brief summary of this proposal has been provided by the MIP Author and is shown below:

The Content Production Core Unit’s initial budget provides three months of runway (May, June, July) to establish operations in accordance with our mandate.

This proposal is for a total of 201,200 Dai to fund the team for August, September, and October.

Unless the team significantly expands the scope of its activities, this quarter’s budget should be ~50,000 DAI higher than a typical quarter due to the inclusion of a Continuity Fund to pay contributors in the event a budget is delayed or some other emergency occurs.

Please review the links below to inform your position on this proposal before voting.

Outcomes

This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.

If the votes for the 'Yes' option exceed the votes for the 'No' option AND the votes for the 'Yes' option exceed 10,000 MKR, then the following actions will be taken:

  • The MIP Editors will mark the proposal Accepted and the Governance Facilitators will confirm its passage on the Governance and Risk call on Thursday, July 29.
  • Any further work required to implement the proposal will be tasked to the relevant Core Units.

Otherwise, this proposal will be marked as rejected per MIP51.

Ratification Poll for Dispute Resolution (MIP52)

The Governance Facilitators have placed a ratification poll into the voting system as part of the responsibilities defined in MIP51. This Governance Poll will be active for fourteen days beginning on Monday, July 12 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 may vote in this poll to express support or opposition to MIP52 being accepted and implemented in the Maker Protocol.

A brief summary of this proposal has been provided by the MIP Author and is shown below:

This MIP outlines a process by which any community member or stakeholder can elevate the resolution of a dispute directly to MKR holders. There will be two primary components to this MIP, one which allows for the dispute to be settled in the normal governance cycle and another that permits for an immediate resolution, and a third component which sets a parameter for the immediate resolution component.

Please review the links below to inform your position on this proposal before voting.

Outcomes

This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.

If the votes for the 'Yes' option exceed the votes for the 'No' option AND the votes for the 'Yes' option exceed 10,000 MKR, then the following actions will be taken:

  • The MIP Editors will mark the proposal Accepted and the Governance Facilitators will confirm its passage on the Governance and Risk call on Thursday, July 29.
  • Any further work required to implement the proposal will be tasked to the relevant Core Units.

Otherwise, this proposal will be marked as rejected per MIP51.

Resources

MIP51: Monthly Governance Cycle describes this type of poll and its position and significance within the rest of the governance cycle.

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 17:00 UTC.

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

July 12, 2021

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