Governance Polls: Adjustments to Base Rate, DSR Spread, and MIPs Polls

8 June 2020

The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents adjustments to the Base RateDSR Spread, and a variety of MIPs polls.

Poll: Base Rate Adjustment

The Maker Foundation Interim Risk Team has placed a Governance Poll into the voting system which presents a number of possible Base Rate options. Voters are now able to signal their support for a Base Rate within a range of -4% to 4%.

This Governance Poll (FAQ) will be active for three days beginning on Monday, June 8 at 4 PM UTC, the results of which may inform an Executive Vote which will go live on Friday, June 12, at 4 PM UTC.

Review

The Base Rate was discussed in an online discussion, please review to inform your position before voting.

Next Steps

  • On the Friday following the conclusion of the poll, there will be an Executive Vote asking MKR token holders if they support or reject the change proposed by this Governance Poll.

Poll: Dai Savings Rate Spread Adjustment

The Maker Foundation Interim Risk Team has placed a Governance Poll into the voting system which presents a number of possible Dai Savings Rate Spread options. Voters are now able to signal their support for a Dai Savings Rate Spread within a range of 0% to 4%.

This Governance Poll (FAQ) will be active for three days beginning on Monday, June 8 at 4 PM UTC, the results of which may inform an Executive Vote which will go live on Friday, June 12, at 4 PM UTC.

Review

The Dai Savings Rate Spread was discussed in the Governance call on Thursday, May 21. Please review the VideoAudioSummary and the online discussion to inform your position before voting.

Next Steps

  • On the Friday following the conclusion of the poll, there will be an Executive Vote asking MKR token holders if they support or reject the change proposed by this Governance Poll.

MIP13: Inclusion Poll for Declarations of Intent

On June 8, the Maker Community will vote to determine whether the Maker Improvement Proposal, MIP13 (Declarations of Intent), will proceed to next week's Governance Poll. In short, MIP13 proposes a process that will allow Maker Governance to signal an intention to the wider community.

Inclusion Poll Details:

  • If the Yes votes in the inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold at the end of the poll, the proposal will be included in the Governance Poll. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.
  • Note that the Default Inclusion Threshold is set to 3000 MKR.

Review

The proposal can be reviewed here: MIP13: Declarations of Intent. It was also discussed on the Governance call on May 14, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitators will confirm its inclusion in the Governance Poll on the Thursday Governance and Risk call on June 11. The Governance Poll would then be begin next Monday, June 15.

MIP14: Inclusion Poll for Protocol DAI Transfer

On June 8, the Maker Community will vote to determine whether the Maker Improvement Proposal, MIP14 (Protocol DAI Transfer), will proceed to next week's Governance Poll. In short, MIP14 defines a generic process for transfering DAI from the Maker Protocol to a target Ethereum address.

Inclusion Poll Details:

  • If the Yes votes in the inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold at the end of the poll, the proposal will be included in the Governance Poll. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.
  • Note that the Default Inclusion Threshold is set to 3000 MKR.

Review

The proposal can be reviewed here: MIP14: Protocol DAI Transfer. It was also discussed on the Governance call on May 14, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitators will confirm its inclusion in the Governance Poll on the Thursday Governance and Risk call on June 11. The Governance Poll would then be begin next Monday, June 15.

MIP4c2-SP1: Inclusion Poll for MIP6 Amendments

On June 8, the Maker Community will vote to determine whether the Maker Improvement Subproposal, MIP4c2-SP1 (MIP6 Amendment), will proceed to next week's Governance Poll. In short, MIP4c2-SP1 proposes updates to the collateral onboarding process to allow MIP6 collateral applications to be eligible for MIP9 Community Greenlight polls at least two weeks after the MIP6 application has been proposed, as well as moving the Domain Greenlight process until after the MIP9 polls have concluded.

Inclusion Poll Details:

  • If the Yes votes in the inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold at the end of the poll, the proposal will be included in the Governance Poll. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.
  • Note that the Default Inclusion Threshold is set to 3000 MKR.

Review

The proposal can be reviewed here: MIP4c2-SP1: MIP6 Amendments. It was also discussed on the Governance call on May 21, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitators will confirm its inclusion in the Governance Poll on the Thursday Governance and Risk call on June 11. The Governance Poll would then be begin next Monday, June 15.

MIP4c2-SP2: Inclusion Poll for MIP8 Amendments

On June 8, the Maker Community will vote to determine whether the Maker Improvement Subproposal, MIP4c2-SP2 (MIP8 Amendments), will proceed to next week's Governance Poll. In short, MIP4c2-SP2 proposes that the Domain Greenlight process (MIP8) should occur after the proposed collateral asset has passed the MIP9 Community Greenlight Poll allowing the Domain teams to use the Community Greenlight Poll results to make a more informed decision and proceed with their domain work.

Inclusion Poll Details:

  • If the Yes votes in the inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold at the end of the poll, the proposal will be included in the Governance Poll. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.
  • Note that the Default Inclusion Threshold is set to 3000 MKR.

Review

The proposal can be reviewed here: MIP4c2-SP2: MIP8 Amendments. It was also discussed on the Governance call on May 21, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitators will confirm its inclusion in the Governance Poll on the Thursday Governance and Risk call on June 11. The Governance Poll would then be begin next Monday, June 15.

MIP4c2-SP3: Inclusion Poll for MIP9 Amendments

On June 8, the Maker Community will vote to determine whether the Maker Improvement Subproposal, MIP4c2-SP3 (MIP9 Amendments), will proceed to next week's Governance Poll. In short, MIP4c2-SP3 proposes some minor language edits and addresses some inconsistencies detailed throughout MIP9. More specifically, the proposed change will update the MIP to be consistent in saying that the Community Greenlight process will occur before the Domain Greenlight process, that Community Greenlight Polls will run for two weeks, and separating the components to increase clarity surrounding the overall process requirements and outcomes.

Inclusion Poll Details:

  • If the Yes votes in the inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold at the end of the poll, the proposal will be included in the Governance Poll. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.
  • Note that the Default Inclusion Threshold is set to 3000 MKR.

Review

The proposal can be reviewed here: MIP4c2-SP3: MIP9 Amendments. It was also discussed on the Governance call on May 21, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitators will confirm its inclusion in the Governance Poll on the Thursday Governance and Risk call on June 11. The Governance Poll would then be begin next Monday, June 15.

MIP4c2-SP4: Inclusion Poll for MIP12 Amendments

On June 8, the Maker Community will vote to determine whether the Maker Improvement Subproposal, MIP4c2-SP4 (MIP12 Amendments), will proceed to next week's Governance Poll. In short, MIP4c2-SP4 proposes an update to MIP12 to allow the collateral onboarding process to operate more efficiently. More specifically, it states that collateral onboarding can continue to operate despite not having an official General Risk Model ratified through the MIP11 process.

Inclusion Poll Details:

  • If the Yes votes in the inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold at the end of the poll, the proposal will be included in the Governance Poll. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.
  • Note that the Default Inclusion Threshold is set to 3000 MKR.

Review

The proposal can be reviewed here: MIP4c2-SP4: MIP12 Amendments. It was also discussed on the Governance call on May 21, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitators will confirm its inclusion in the Governance Poll on the Thursday Governance and Risk call on June 11. The Governance Poll would then be begin next Monday, June 15.

MIP7c3-SP2: Inclusion Poll for Onboarding a Risk Domain Team

On June 8, the Maker Community will vote to determine whether the Maker Improvement Subproposal, MIP7c3-SP2 (Domain Team Onboarding (Risk Domain Team), will proceed to next week's Governance Poll. In short, MIP7c3-SP2 proposes to onboard Cyrus Younessi as an official Risk Domain Team.

Inclusion Poll Details:

  • If the Yes votes in the inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold at the end of the poll, the proposal will be included in the Governance Poll. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.
  • Note that the Default Inclusion Threshold is set to 3000 MKR.

Review

The proposal can be reviewed here: MIP7c3-SP2: Domain Team Onboarding (Risk Domain Team). It was also discussed on the Governance call on June 4, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitators will confirm its inclusion in the Governance Poll on the Thursday Governance and Risk call on June 11. The Governance Poll would then be begin next Monday, June 15.

Resources

Additional information about the MIPs process can be found in the Maker Improvement Proposals (MIPs) repository.

Additional information about the Governance process can be found in the Governance Risk Framework: Governing MakerDAO

Demos, help and instructional material for the Governance Dashboard can be found at Awesome MakerDAO.

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.

8 June 2020