The Governance Facilitators have placed a budget 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 an instant-runoff vote.

• You may rank any number of options that you would support in an executive vote.
• Unranked options signal that you would not support the option(s) in an executive vote.
• If you have no preference to any of the listed options, you should vote 'Abstain' as your first and only choice.

Review

The community may vote in this poll to express support or opposition to MIP40c3-SP85 being accepted and implemented in the Maker Protocol by ranking their support of the following options:

• Option 1: Approve new base budget: 433,375 DAI seed transfer and 1,040,100 DAI streamed over twelve months.
• Option 2: Approve new bear budget: 394,562.50 DAI seed transfer and 946,950 DAI streamed over twelve months.
• Option 3: Reject budget.

A brief summary of this proposal has been provided by the MIP Author and is shown below:

"The original budget for SAS-001 is expiring 30-Nov-2022. This subproposal creates a new budget stream for the Core Unit to continue operations through 30-Nov-2023".

"Changes & modifications from the original MIP40c3-SP43 budget subproposal:"

• "SAS-001 Annual Budget Cap reduced from 1,130,392.56 DAI to 1,040,100.00 DAI (New Base) or 946,950.00 DAI (New Bear). 2023 Budget Breakdown".
  • "Updated Transaction".
  • "Updated Smart Contract Implementation".
• "Addition of new sections to meet the MIP4c2-SP19 amendment:"
  • "Roadmap and Objective".
  • "Summarising Value to MKR Holders".
  • "Contingency Planning - Scenarios".
  • "Return Excess Funds".
  • "Unwinding and Defunding".
  • "Proposal Parameters".
  • "Minor grammatical and formatting updates to the Budget Implementation".

Please review the links below to inform your position on this proposal before voting.

• Canonical Proposal Version
• Latest Proposal Version
• Proposal Discussion Thread

Outcomes

This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.

If the votes for Option 1 or Option 2 achieve a majority AND the votes for the winning 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.

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Resources

MIP51: Monthly Governance Cycle describes this type of poll and its position and significance within the rest of the governance cycle.

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.

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.