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.

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Executive Summary

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.

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Proposal Details

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.

DAI Streams

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.

492,971 DAI will be streamed to the DAI Foundation (DAIF-001) Core Unit through September 1, 2022 at 0x34D8d61050Ef9D2B48Ab00e6dc8A8CA6581c5d63 in accordance with their active budget proposal.

620,000 DAI will be streamed to the Real-World Finance (RWF-001) Core Unit through January 1, 2022 at 0x9e1585d9CA64243CE43D42f7dD7333190F66Ca09 in accordance with their active budget proposal.

2,184,000 DAI will be streamed to the Risk (RISK-001) Core Unit through September 1, 2022 at 0xd98ef20520048a35EdA9A202137847A62120d2d9 in accordance with their active budget proposal.

123,333 DAI will be streamed to the GovAlpha (GOV-001) Core Unit through October 1, 2021 at 0x01D26f8c5cC009868A4BF66E268c17B057fF7A73 in accordance with their active budget proposal.

103,134 DAI will be streamed to the Content Production (MKT-001) Core Unit through November 1, 2021 at 0xDCAF2C84e1154c8DdD3203880e5db965bfF09B60 in accordance with their active budget proposal.

4,196,771 DAI will be streamed to the Oracles (ORA-001) Core Unit through July 1, 2022 at 0x2d09B7b95f3F312ba6dDfB77bA6971786c5b50Cf in accordance with their active budget proposal.

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.

300,050 DAI will be streamed to the Growth (GRO-001) Core Unit through November 1, 2021 at 0x7800C137A645c07132886539217ce192b9F0528e in accordance with their active budget proposal.

4,080,000 DAI will be streamed to the Protocol Engineering (PE-001) Core Unit through May 1, 2022 at 0xe2c16c308b843eD02B09156388Cb240cEd58C01c in accordance with their active budget proposal.

MKR Streams

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
0xfDB9F5e045D7326C1da87d0e199a05CDE5378EdD	2021-05-01
0xBe4De3E151D52668c2C0610C985b4297833239C8	2021-05-01
0x58EA3C96a8b81abC01EB78B98deCe2AD1e5fd7fc	2021-05-01
0xBAB4Cd1cB31Cd28f842335973712a6015eB0EcD5	2021-05-01
0xB5c86aff90944CFB3184902482799bD5fA3B18dD	2021-05-01
0x780f478856ebE01e46d9A432e8776bAAB5A81b5b	2021-05-01
0x34364E234b3DD02FF5c8A2ad9ba86bbD3D3D3284	2021-05-01
0x46E5DBad3966453Af57e90Ec2f3548a0e98ec979	2021-05-01
0x18CaE82909C31b60Fe0A9656D76406345C9cb9FB	2021-05-01
0x301dD8eB831ddb93F128C33b9d9DC333210d9B25	2021-05-01
0xBFC47D0D7452a25b7d3AA4d7379c69A891bD5d43	2021-05-01
0xcD16aa978A89Aa26b3121Fc8dd32228d7D0fcF4a	2021-09-13
0x3189cfe40CF011AAb13aDD8aE7284deD4CD30602	2021-06-21
0x29b37159C09a65af6a7CFb062998B169879442B6	2021-09-20

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.

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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.