Budget Ratification Poll for Modify Growth Core Unit Budget, GRO-001 (MIP40c3-SP70) - June 13, 2022
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, June 13 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-SP70 being accepted and implemented in the Maker Protocol by ranking their support of the following options:
- Option 0: Abstain.
- Option 1: Approve increased budget (BaseGrowth): 5,085,157.11 DAI.
- Option 2: Approve increased budget (BearMarket): 4,210,261.40 DAI.
- Option 3: Approve existing budget only (BrandlessGrowth): 3,272,550.00 DAI
- Option 4: Reject budget.
A brief summary of this proposal has been provided by the MIP Author and is shown below:
MIP40c3-SP70 requests a 12-month budget of 5,085,157.11 DAI for the Growth Core Unit starting from July 2022 (Option BaseGrowth).
Due to the current market situation, we decided to propose a second option (option BearMarket) with a reduction in the objective FTEs, which will slow down our roadmap for H2-22 to H1-23. Option BearMarket requests a 12-month budget of 4,210,261.40 DAI for the Growth Core Unit starting from July 2022.
Personnel reduction from the original plan, although feasible, will have an impact on the roadmap execution of both teams (Growth and Brand) and the number of strategic initiatives we can run with our partners. In case option BearMarket is elected, we will:
- Reduce the number of new business opportunities or associations that require a high intensity of work (usually high impact partnerships).
- Instead of having a specialization approach (per region and vertical), we will continue with a generalist approach.
- Merge the communications and content team.
- Instead of having a separate team working on the brand, BDs will continue developing the Maker brand with our partners, with the PR agencies' support.
Although this is a more conservative approach and gives us time as a DAO to define the next steps towards MetaDAOs or any other path MKR holders decide, it's essential to understand that this will slow down Growth's CU roadmap (BDs+Brand).
Option BaseGrowth (5,085,157.11 DAI) represents a 55% increase compared to last year's approved budget. This increase in budget will support our growth in FTE, allowing us to expand our presence in other regions and have all people needed to run the Brand team. Option BearMarket (4,210,261.40 DAI) represents a 28% increase compared to last year's approved budget. We won't be growing the team as planned but will be able to execute our plan with some constraints. Option BrandlessGrowth (3,272,550.00 DAI) represents a 0% increase compared to last year's approved budget. If MKR holders select his option, we won't be able to continue with the Brand team plan.
Please review the links below to inform your position on this proposal before voting.
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, June 30.
- 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.
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.