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 actions will occur within the Maker Protocol:

• Execute the SparkLend Proxy Spell at 0x2f2c514137173bc98B3699A0d291f7593637c596 for updates and technical changes detailed here and here.
• Increase the SparkLend D3M Maximum Debt Ceiling (line) by 400 million from 800 million to 1.2 billion DAI.
• November and December Aligned Delegate Compensation will be distributed to 10 delegates.
• Two Derecognized Aligned Delegates will receive their remaining AD buffer, with Navigator receiving 20.84 MKR and PALC 6.95 MKR.
• The DAI Token Streams for DECO and SES will be halted (yank).
• BA Labs and SES will receive 175.00 and 508.55 MKR respectively.
• The Launch Project will receive 4.5 million DAI and 820.00 MKR.
• The HVBank (RWA009-A) RWA Agreement (doc) parameter will be updated to to QmfEgZuiw6wsTRUYerdPZNUrqDXSGM6Nm4fM3nG7nNbEjT.

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

Execute the SparkLend Proxy Spell

Authorization: Ecosystem Approval 1, Ecosystem Approval 2
Polls: 1, 2, 3, 4, 5
Proposal: Forum Post 1, Forum Post 2

If this executive proposal passes, the SparkLend Proxy Spell (Ethereum) at 0x2f2c514137173bc98B3699A0d291f7593637c596 will be executed. It contains the following polled items and code updates as outlined in this forum post:

• Activate SparkLend Freezer Mom.
• Replace DAI Oracle with one that is hardcoded to $1.
• Update the wstETH oracle to assume a 1:1 stETH:ETH peg.
• Freeze GNO and set LTV to 0.
• Activate Lido Rewards Program.
• Expedited code update.

Increase the SparkLend D3M Maximum Debt Ceiling

Authorization: Ecosystem Approval, Poll
Proposal: Forum Post

If this executive proposal passes, the SparkLend D3M Maximum Debt Ceiling (line) will be increased by 400 million from 800 million to 1.2 billion DAI.

Aligned Delegate Compensation

Authorization: Atlas Section 2.6.3
Proposal: Forum Post - November, Forum Post - December

If this executive proposal passes, the following transfers for Aligned Delegate Compensation will be made to qualifying Aligned Delegates.

November Compensation

Delegate	Amount (MKR)	Address
0xDefensor	41.67	0x9542b441d65B6BF4dDdd3d4D2a66D8dCB9EE07a9
BONAPUBLICA	41.67	0x167c1a762B08D7e78dbF8f24e5C3f1Ab415021D3
Cloaky	41.67	0x869b6d5d8FA7f4FFdaCA4D23FFE0735c5eD1F818
TRUE NAME	41.67	0x612F7924c367575a0Edf21333D96b15F1B345A5d
BLUE	13.95	0xb6C09680D822F162449cdFB8248a7D3FC26Ec9Bf
UPMaker	13.89	0xbB819DF169670DC71A16F58F55956FE642cc6BcD
vigilant	13.89	0x2474937cB55500601BCCE9f4cb0A0A72Dc226F61
JAG	13.02	0x58D1ec57E4294E4fe650D1CB12b96AE34349556f
PBG	0.45	0x8D4df847dB7FfE0B46AF084fE031F7691C6478c2

December Compensation

Delegate	Amount (MKR)	Address
0xDefensor	41.67	0x9542b441d65B6BF4dDdd3d4D2a66D8dCB9EE07a9
BONAPUBLICA	41.67	0x167c1a762B08D7e78dbF8f24e5C3f1Ab415021D3
Cloaky	41.67	0x869b6d5d8FA7f4FFdaCA4D23FFE0735c5eD1F818
TRUE NAME	41.67	0x612F7924c367575a0Edf21333D96b15F1B345A5d
BLUE	39.20	0xb6C09680D822F162449cdFB8248a7D3FC26Ec9Bf
PBG	13.89	0x8D4df847dB7FfE0B46AF084fE031F7691C6478c2
UPMaker	13.89	0xbB819DF169670DC71A16F58F55956FE642cc6BcD
vigilant	13.89	0x2474937cB55500601BCCE9f4cb0A0A72Dc226F61
JAG	12.95	0x58D1ec57E4294E4fe650D1CB12b96AE34349556f
WBC	11.28	0xeBcE83e491947aDB1396Ee7E55d3c81414fB0D47

Derecognized Aligned Delegate Buffer Payments

Authorization: Atlas Section 2.6.3.4.1
Proposal: Forum Post

If this executive proposal passes, the following transfers will be made to pay out the remainder of the AD buffers following two Aligned Delegate derecognitions:

• Navigator - 20.84 MKR - 0x11406a9CC2e37425F15f920F494A51133ac93072
• PALC - 6.95 MKR - 0x78Deac4F87BD8007b9cb56B8d53889ed5374e83A

End Token Streams

Authorization: DECO, SES
Proposal: DECO, SES

If this executive proposal passes, the DAI Token Streams will be halted (yank) for SES and DECO, following their respective offboarding.

Legacy Agreement MKR Distributions

Authorization: SES, BA Labs

If this executive proposal passes, the following transfers will be made per Legacy Core Unit MIP agreements:

• SES - 508.55 MKR - 0x87AcDD9208f73bFc9207e1f6F0fDE906bcA95cc6. (Note - This figure covers the 278 MKR owed to SES from November plus the remainder of the legacy MKR agreements owed to the team, following their offboarding.)
• BA Labs - 175.00 MKR - 0x5d67d5B1fC7EF4bfF31967bE2D2d7b9323c1521c.

Launch Project Funding

Authorization: Forum Post

If this executive proposal passes, the following transfers will be made to the Launch Project as part of the funding defined in the Accessibility Scope:

• Transfer 4,500,000 DAI to 0x3C5142F28567E6a0F172fd0BaaF1f2847f49D02F.
• Transfer 820.00 MKR to 0x3C5142F28567E6a0F172fd0BaaF1f2847f49D02F.

RWA Agreement Update

Authorization: Forum Post

If this executive proposal passes, the HVBank (RWA009-A) RWA Agreement (doc) parameter will be updated to to QmfEgZuiw6wsTRUYerdPZNUrqDXSGM6Nm4fM3nG7nNbEjT.

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.