Ratification Poll for CoinShares Active Treasury Management (MIP86) - November 14, 2022
The Governance Facilitators have placed a ratification poll into the voting system as part of the responsibilities defined in MIP51. This Governance Poll will be active for fourteen days beginning on Monday, November 14 at 16:00 UTC.
This is a binary vote.
- You may vote for a single option.
- You should vote for the option which you prefer.
- If you would accept either option, you should vote 'Abstain'.
The community may vote in this poll to express support or opposition to MIP86 being accepted and implemented in the Maker Protocol.
A brief summary of this proposal has been provided by the MIP Author and is shown below:
Under MIP86, a portion (from $100M to $500M) of the PSM’s USDCs will be managed by CoinShares, which will invest on behalf of MakerDAO the funds in various traditional financial assets according to MIP13c3-SP12. CoinShares aims to provide a variable APY above the SOFR interest rate (3.01% as of October 26, 2022) in the community’s preferred currency (DAI, USDC, USD…) to MakerDAO and that can be withdrawn on-chain. This MIP describes the architecture of the project.
Please review the links below to inform your position on this proposal before voting.
This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.
If the votes for the 'Yes' option exceed the votes for the 'No' option AND the votes for the 'Yes' option exceed 10,000 MKR, then the following actions will be taken:
- The MIP Editors will mark the proposal Accepted and the Governance Facilitators will confirm its passage on the Governance and Risk call on Thursday, December 1.
- Any further work required to implement the proposal will be tasked to the relevant Core Units.
Otherwise, this proposal will be marked as rejected per MIP51.
MIP51: Monthly Governance Cycle describes this type of poll and its position and significance within the rest of the governance cycle.
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.