Spark Protocol-Aave Revenue Share Payment, DAO Resolution for HV Bank, Immunefi Security Core Unit MKR Vesting Transfer and Chainlog Housekeeping - November 1, 2023
The Governance Facilitator teams, Sidestream, and Dewiz have placed an executive proposal into the voting system. MKR Holders should vote for this proposal if they support the following actions within the Maker Protocol.
If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works.
If this executive proposal passes, the following actions will occur within the Maker Protocol:
- The first Spark Protocol-Aave Revenue Share payment will be executed.
- A DAO Resolution for the HV Bank vault (RWA009-A) will be approved, allowing the RWA Foundation to onboard with Galaxy Digital Trading Cayman LLC, an exchange agent.
- A MKR vesting transfer in the amount of 6.34 MKR will be executed for the Immunefi Security Core Unit, per its voluntary offboarding proposal.
- The GUSD and USDP Jar and SwapInputConduit contracts (associated with the GUSD-MakerDAO and Trident-MakerDAO partnerships) will be added to the Chainlog.
Voting for this executive proposal will place your MKR in support of the actions outlined above.
Unless otherwise noted, the actions listed above are subject to the GSM Pause Delay. This means that if this executive proposal passes, the actions listed above will only become active in the Maker Protocol after the GSM Pause Delay has expired. The GSM Pause Delay is currently set to 48 hours.
If this executive proposal does not pass within 30 days, then it will expire and can no longer have any effect on the Maker Protocol.
Spark Protocol-Aave Revenue Share Payment
The proposed action concerns executing the first payment of the Spark Protocol-Aave Revenue Share Agreement. If this executive proposal passes, Maker Governance will execute a payment from the Surplus Buffer of 2889 DAI to a smart contract (0x464C71f6c2F760DdA6093dCB91C24c39e5d6e18c) controlled by Aave Governance.
DAO Resolution for HV Bank (RWA009-A) Vault
In a recent Executive Vote, Maker Governance approved a DAO Resolution instructing the RWA Foundation to terminate future purchases in HV Bank’s RWA Master Participation Trust and return excess available cash to the DAO.
The proposed action concerns the approval of a new DAO Resolution that is a necessary precursor to the return of the excess cash to the DAO. It allows the RWA Foundation to onboard with Galaxy Digital Trading Cayman LLC, an exchange agent, through which the excess available cash will be returned.
If this executive proposal passes, the DAO Resolution with the IPFS hash of QmbrCPtpKsCaQ2pKc8qLnkL8TywRYcKHYaX6LEzhhKQqAw will be approved.
Immunefi Security Core Unit MKR Vesting Transfer
Per its voluntary offboarding proposal, Immunefi Security CU requests a payout of the MKR vested 2023-08-05, adjusted to 0.4 FTE. (See manual repricing; FTE reduction in July 2022; adjusted MKR vesting schedule in August 2022; and final FTE reduction to 0.4 in January 2023.)
If this executive proposal passes, a one-time MKR payment in the amount of 6.34 MKR will be transferred to the Core Unit's Auditor Wallet (0xd1F2eEf8576736C1EbA36920B957cd2aF07280F4).
Add GUSD and USDP Jar and SwapInputConduit Contracts to Chainlog
In December 2022, a GUSD & MakerDAO partnership for institutional rewards was rolled out. In order for MakerDAO to receive the GUSD rewards, two contracts were deployed: the RwaSwapInputConduit2 and RwaJar. Recently, MakerDAO entered into a similar partnership with Trident to receive USDP rewards. This deal also requires deploying the above-mentioned contracts.
If this executive proposal passes, these contracts will be added to the Chainlog as:
<conduit>.rely(MCD_ESM) will be called on the SwapInputConduit contracts to allow the ESM module to
deny the pause proxy. In the event of a successful governance attack, this prevents funds from being stolen from the SwapInputConduit contracts.
Community debate on these topics can be found on the MakerDAO Governance forum. Please review any linked threads to inform your position before voting.
Additional information about the Governance process can be found in the Maker Operational Manual.
To add current and upcoming votes to your calendar, please see the MakerDAO Governance Calendar.