HVBank Drawdown, Keeper Network Stream Re-Deployment - August 03, 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:
- 25 million DAI will be drawn down in the RWA-009 (HVBank) vault, as detailed below.
- The previous DAI stream to Keep3r Keeper Network will be cancelled and a new stream deployed, 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 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.
Proposal Details
HVBank Drawdown
As per this successful governance poll, 25 million DAI will be drawn down in the RWA-009 (HVBank) vault, if this executive proposal passes.
Further description of the schedule and mechanism being used for drawdown from this vault can be seen in this post from the Collateral Engineering Services Core Unit (CES-001).
Keep3r Network Stream Re-deployment
As per this forum post the previously established stream to Keep3r Network will be cancelled and a new stream deployed, if this executive proposal passes.
As per the ratified MIP63c4-SP4: Onboard/Amend Keeper Network - Keep3r Network, a total of 215,000 DAI will be streamed to Keep3r Keeper Network if this executive proposal passes:
- 215,000 DAI will be streamed to the Keep3r Keeper Network at 0x37b375e3D418fbECba6b283e704F840AB32f3b3C starting on 2022-07-01 and ending on 2023-01-31 at a rate of 1,000 DAI/day.
- 0x45fEEBbd5Cf86dF61be8F81025E22Ae07a07cB23 will be added as a manager for this stream. In the event of issues with the stream, this manager address will be able to cancel this stream without a further executive proposal being required.
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.