Core Unit Budget Distributions - April 29, 2022
The Governance Facilitator(s) and the Protocol Engineering Core Unit 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 changes will occur within the Maker Protocol:
- A total of 1,057,918 DAI (itemized further down) will be transferred to multiple Core Units.
- A total of 9,758,130 DAI (itemized further down) will be streamed to multiple Core Units.
Voting for this executive proposal will place your MKR in support of the changes and additions outlined above.
Unless otherwise noted, the changes and additions listed above are subject to the GSM Pause Delay. This means that if this executive proposal passes, the changes and additions 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.
This executive proposal includes an office-hours modifier which means that it can only be executed between 14:00 and 21:00 UTC, Monday - Friday. This is to ensure that at least some knowledgeable actors are available if issues arise with the new contracts deployed by this spell.
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.
Proposal Details
Core Unit Budget Transfers
As per multiple successful budget proposals (linked below), a total of 1,057,918 DAI will be transferred to multiple Core Units if this executive proposal passes:
- 800,000 DAI will be transferred to the Protocol Engineering Core Unit (PE-001) at 0xe2c16c308b843eD02B09156388Cb240cEd58C01c as a result of their most recent budget approval.
- 73,226 DAI (itemized below) will be transferred to the Governance Communications Core Unit (COM-001) as a result of their most recent budget approval.
- 46,836 DAI to the Continuous Operation Multisig: 0x99E1696A680c0D9f426Be20400E468089E7FDB0f.
- 26,390 DAI to the Operational Multisig: 0x1eE3ECa7aEF17D1e74eD7C447CcBA61aC76aDbA9.
- 149,692 DAI will be transferred to the Events Core Unit (EVENTS-001) at 0x3D274fbAc29C92D2F624483495C0113B44dBE7d2 as a result of their most recent budget approval.
- 35,000 DAI will be transferred to the Strategic Happiness Core Unit (SH-001) at 0x955993Df48b0458A01cfB5fd7DF5F5DCa6443550 as a result of this Governance Poll originating from this Signal Request.
Core Unit Budget Streams
- 7,590,000 DAI will be streamed to the Protocol Engineering Core Unit (PE-001) at 0xe2c16c308b843eD02B09156388Cb240cEd58C01c starting on 2022-05-01 and ending on 2023-04-30 as a result of their most recent budget approval.
- 336,672 DAI will be streamed to the Governance Communications Core Unit (COM-001) at 0x1eE3ECa7aEF17D1e74eD7C447CcBA61aC76aDbA9 starting on 2022-07-01 and ending on 2022-12-31 as a result of their most recent budget approval.
- 1,083,000 DAI will be streamed to the Data Insights Core Unit (DIN-001) at 0x7327Aed0Ddf75391098e8753512D8aEc8D740a1F starting on 2022-05-01 and ending on 2023-04-30 as a result of their most recent budget approval.
- 748,458 DAI will be streamed to the Events Core Unit (EVENTS-001) at 0x3D274fbAc29C92D2F624483495C0113B44dBE7d2 starting on 2022-05-01 and ending on 2023-04-30 as a result of their most recent budget approval.
DssVest and ESM Interaction
This section clarifies the need for the above vesting streams to take place on a new DssVest contract.
The DssVest DAI contract is being updated to prevent vat.suck calls being possible in the event of emergency shutdown. This involves including a check to ensure that vat.suck only works when the system is live for all new vest contracts. For existing contracts, the ESM will be relied to allow keepers to remove pause proxy permissions if governance becomes malicious after shutdown. Note that this is relevant only after shutdown occurs. All vest functionality remains the same as per the original contract. All existing streams are remaining the same, but the new streams are from a new contract.
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.