Parameter Changes, September Core Unit Budgets, DssVest Streams - September 3, 2021
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 this executive proposal passes, the following changes will occur within the Maker Protocol:
- The Flash Mint Fee (toll) will be decreased from 0.05% to 0%.
- The PSM-PAX-A Debt Ceiling will be increased from 50 million DAI to 500 million DAI.
- 2 million DAI will be distributed to the DAI Foundation Reserves Backup Wallet.
- 138,591 DAI will be distributed to the DAI Foundation Operational Wallet.
- 155,237 DAI will be distributed to the Sustainable Ecosystem Scaling Auditors' Wallet.
If this executive proposal passes, the following additions will be made to the Maker Protocol:
- DssVest will be implemented, establishing both budget and MKR vesting agreement streams listed in the Proposal Details section.
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.
Decreasing the Flash Mint Fee (toll)
As per the result of this poll and original signal request, the Flash Mint Fee (toll) will be decreased from 0.05% to 0% if this executive proposal passes. For more information on the Flash Mint Module, please review the MIP25 discussion and public repository.
Increasing the PSM-PAX-A Debt Ceiling
As per the result of this poll and following the plan detailed in this thread, the Debt Ceiling for PSM-PAX-A will be increased from 50 million DAI to 500 million DAI if this executive proposal passes.
One-time Budget Distributions
The following budget distributions will be made if this executive proposal passes:
- 155,237 DAI will be distributed to the Sustainable Ecosystem Scaling (SES-001) Core Unit at 0x87AcDD9208f73bFc9207e1f6F0fDE906bcA95cc6 as specified in their active budget proposal.
- 2 million DAI will be distributed to the DAI Foundation (DAIF-001) Reserves Backup Wallet at 0x5F5c328732c9E52DfCb81067b8bA56459b33921f as specified in their active budget proposal.
- 138,591 DAI will be distributed to the DAI Foundation (DAIF-001) Operational Wallet at 0x34D8d61050Ef9D2B48Ab00e6dc8A8CA6581c5d63 as specified in their active budget proposal.
DssVest Implementation and Initial Streams
As per this ratification poll, DssVest will be implemented and the following token streams established if this executive proposal passes. For more information on DssVest, please review MIP54 and its forum thread.
Note all DAI Streams have a start date of September 1, 2021 with the exception of the DAI Foundation, which will begin on October 1, 2021.
122,700 DAI will be streamed to the Governance Communications (COM-001) Core Unit through January 1, 2022 at 0x1eE3ECa7aEF17D1e74eD7C447CcBA61aC76aDbA9 in accordance with their active budget proposal.
1,051.25 MKR will be streamed to the Oracles (ORA-001) Core Unit starting July 1, 2021 through July 1, 2022 at 0x2d09B7b95f3F312ba6dDfB77bA6971786c5b50Cf in accordance with their active budget proposal. A 1-year cliff is in place, making MKR claimable on July 1, 2022.
803.18 MKR will be streamed to the Growth (GRO-001) Core Unit starting July 1, 2021 through July 1, 2022 at 0x7800C137A645c07132886539217ce192b9F0528e in accordance with their active budget proposal. A 1-year cliff is in place, making MKR claimable on July 1, 2022.
13,930 MKR total will be streamed to 14 team members of the Protocol Engineering (PE-001) Core Unit as detailed below, in accordance with their active budget proposal. All team members have a 1-year cliff and will have their 995 MKR streamed over 4 years.
|Address||Stream Start Date|
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.
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.