The Governance Facilitators, Sidestream, Dewiz, and Phoenix Labs 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.

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Executive Summary

If this executive proposal passes, the following changes will occur within the Maker Protocol:

• The Starknet Dai Bridge will be disabled.
• Aligned Delegate compensation for May 2024 totaling 210.81 MKR will be distributed.
• Aligned Voter Committee Member participation rewards for Q2 2024 totalling 100.08 MKR will be distributed.
• 5,000,000 DAI and 450 MKR will be transferred to the Launch Project.
• A Spark proxy spell will be triggered at 0x258FD2E6b5C155aa5f3e84326A622288bd70f376.
• A series of housekeeping actions to push USDP out of the input conduit will be carried out, as detailed below.

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 30 hours.

This executive proposal includes an office-hours modifier that means that it can only be executed between 14:00 and 21:00 UTC, Monday - Friday.

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.

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Proposal Details

Disable Starknet Dai Bridge

• Authorization: Forum Post
• Proposal: Forum post

As part of the transition from the old Starknet Dai Bridge to a new version maintained by Starkgate, deposits on the old bridge will be disabled, if this executive proposal passes. Withdrawals will still be possible. To do this the following action needs to occur:

• Call close on the STARKNET_DAI_BRIDGE.

For more information please review the forum thread and latest update.

May 2024 Aligned Delegate Compensation

• Authorization: Atlas Section 2.6.3
• Proposal: Forum post

If this executive proposal passes, the following transfers totaling 210.81 MKR for Aligned Delegate compensation will be made to qualifying Aligned Delegates.

Delegate	Amount (MKR)	Address
BLUE	41.67	0xb6C09680D822F162449cdFB8248a7D3FC26Ec9Bf
Cloaky	41.67	0x869b6d5d8FA7f4FFdaCA4D23FFE0735c5eD1F818
JuliaChang	41.67	0x252abAEe2F4f4b8D39E5F12b163eDFb7fac7AED7
Pipkin	34.26	0x0E661eFE390aE39f90a58b04CF891044e56DEDB7
Byteron	12.50	0xc2982e72D060cab2387Dba96b846acb8c96EfF66
BONAPUBLICA	11.11	0x167c1a762B08D7e78dbF8f24e5C3f1Ab415021D3
WBC	11.11	0xeBcE83e491947aDB1396Ee7E55d3c81414fB0D47
PBG	8.49	0x8D4df847dB7FfE0B46AF084fE031F7691C6478c2
Rocky	3.70	0xC31637BDA32a0811E39456A59022D2C386cb2C85
vigilant	2.78	0x2474937cB55500601BCCE9f4cb0A0A72Dc226F61
UPMaker	1.85	0xbB819DF169670DC71A16F58F55956FE642cc6BcD

Q2 2024 AVC Member Participation Rewards

• Authorization: Atlas 2.5.10 prior to its removal by MIP102c2-SP34
• Proposal: Forum post

If this executive proposal passes, the following distributions totaling 100.08 MKR will be made for Q2 2024 AVC member compensation. This has been pro-rated to two months following the most recent amendments to The Atlas that removed the AVC Member role.

AVC Member Name	Address	AVC	Amount (MKR)
IamMeeoh	0x47f7A5d8D27f259582097E1eE59a07a816982AE9	KISS	12.51
DAI-Vinci	0x9ee47F0f82F1A6F45C4E1D25Ce95C321D8C8356a	KISS	12.51
opensky	0xf44f97f4113759E0a57756bE49C0655d490Cf19F	KISS	12.51
Res	0x8c5c8d76372954922400e4654AF7694e158AB784	Resiliency	12.51
Harmony	0xE20A2e231215e9b7Aa308463F1A7490b2ECE55D3	Resiliency	12.51
Libertas	0xE1eBfFa01883EF2b4A9f59b587fFf1a5B44dbb2f	Resiliency	12.51
seedlatam.eth	0xd43b89621fFd48A8A51704f85fd0C87CbC0EB299	Sovereign Finance	12.51
0xRoot	0xC74392777443a11Dc26Ce8A3D934370514F38A91	Sovereign Finance	12.51

Launch Project Funding

• Authorization: Accessibility Scope 9.1
• Proposal: Forum post

If this executive proposal passes, the following transfers to the Launch Project will be made:

• Transfer 5,000,000 DAI to the Launch Project at 0x3C5142F28567E6a0F172fd0BaaF1f2847f49D02F.
• Transfer 450 MKR to the Launch Project at 0x3C5142F28567E6a0F172fd0BaaF1f2847f49D02F.

Spark Proxy Spell

• Authorization: Governance Poll
• Proposal: Forum post

If this executive proposal passes, a Spark proxy spell at 0x258FD2E6b5C155aa5f3e84326A622288bd70f376 will be triggered. The expected contents are as follows:

Onboard Etherfi weETH to SparkLend on Mainnet

weETH will be onboarded to SparkLend on mainnet with the following parameters:

• Token: weETH
• Token Address: 0xCd5fE23C85820F7B72D0926FC9b05b43E359b7ee
• Oracle: weETH/eETH exchange rate (from contract) * eETH/ETH fixed at 1 (implementation)
• Optimal Utilization: 45%
• Base: 5%
• Slope1: 15%
• Slope2: 300%
• Borrow Enabled: No
• Stable Rate Borrowing: No
• Isolation Borrowable: No
• Siloed Borrowing: No
• Flash Loan Enabled: No
• Loan To Value: 72%
• Liquidation Threshold: 73%
• Liquidation Bonus: 10%
• Reserve Factor: 15%
• Supply Cap: 5,000 weETH
• Supply Cap (max): 50,000 weETH
• Supply Cap (gap): 5,000 weETH
• Supply Cap (ttl): 12 hours
• Borrow Cap: 0
• Borrow Cap (max): N/A
• Borrow Cap (gap): N/A
• Borrow Cap (ttl): N/A
• Isolation Mode Enabled: Yes
• Isolation Mode Debt Ceiling: 50 million USD
• Liquidation Protocol Fee: 10%
• Emode Category: N/A

USDP Jar Housekeeping

• Authorization: Forum Post
• Proposal: Forum Post

If this executive proposal passes, following the recommendation of the Governance Facilitators in collaboration with the spell team, the following operations will be performed:

• Raise PSM-PAX-A Debt Ceiling to 2,000 DAI
• Call push(uint256 amt) on MCD_PSM_PAX_A_INPUT_CONDUIT_JAR with an amt of 1,159 USDP
• Call void() on MCD_PSM_PAX_A_JAR
• Set PSM-PAX-A Debt Ceiling to 0 DAI

This will have the following net results:

• Debt Ceiling remains at 0 DAI after the transaction has been executed.
• Dai generated from PSM_PAX_A increases by 1,159 DAI.
• USDP balance of MCD_JOIN_PSM_PAX_A increases by 1,159 USDP.
• USDP balance of PSM_PAX_A_INPUT_CONDUIT_JAR decreases to 0 USDP.
• Surplus Buffer increases by 1,159 DAI.

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.

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Resources

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.