This post is mainly aimed towards existing and new Core Units, if you aren’t writing CU budgets, you can safely ignore it.
- Figuring out executive contents with respect to CU budgets has become annoyingly time-consuming for GovAlpha. Further, the lack of clarity in budget proposals hurts transparency.
- There are new requirements for the formatting of budget implementations detailed below, if you do not follow these, your proposal will not be put up for vote.
- We are no longer taking responsibility for tracking MKR budget distributions. If you need a distribution in an executive vote, inform the Governance Facilitators, otherwise it will not be included.
When proposing DAI budgets, the ‘Budget Implementation’ section must include statements in the form of the following:
X DAI will be transferred to Y address on date Z
10,000 DAI will be transferred to 0x01D26f8c5cC009868A4BF66E268c17B057fF7A73 on 2021-10-05
A total of X DAI will be streamed to Y address starting date Z1 and ending date Z2
A total of 10,000 DAI will be streamed to 0x01D26f8c5cC009868A4BF66E268c17B057fF7A73 starting 2021-10-01 and ending 2021-10-30
OR (in the case of SES-origin’d budgets)
X DAI will be transferred to Y address on date Z where X = <formula>
Budget Cap = 10,000 Operational Wallet = 0x01D26f8c5cC009868A4BF66E268c17B057fF7A73 X DAI will be transferred to 0x01D26f8c5cC009868A4BF66E268c17B057fF7A73 on 2021-10-05 where X = 10,000 - Total DAI in Operational Wallet.
If a budget does not include statements in the form of the above, the Governance Facilitators will not permit it to enter into the monthly governance cycle, and if for some reason an incomplete budget proposal goes through the monthly cycle then it will not be included in any executive vote.
The Governance Facilitators recommend using DssVest to stream DAI over the budget period in combination with an optional initial transfer of start-up or contingency funds. Some Core Units are currently doing this, and some aren’t.
@wouter has agreed on behalf of SES to adopt DssVest to handle DAI streaming and will recommend the setup below for new core units coming through their incubation programs:
On budget acceptance - Protocol
--Transfers-> Auditors Wallet
--Transfers-> Operational Wallet.
Ongoing - Protocol
--Streams-> Auditors Wallet
--Transfers-> Operational Wallet.
This is compatible with our recommendations and helps us move towards a common standard. If you aren’t using this setup already, please consider moving in this direction.
We see several benefits to wide adoption of these recommendations :
- It reduces the amount of transfers Maker Governance needs to vote on to 1 per budget proposal.
- Budgets become much more clear and consistent for Governance when proposed.
- It prevents Core Units passing ‘infinite length’ budgets by requiring a fixed end date for a budget stream.
- It no longer takes 3+ hours for GovAlpha to chase down exactly who is owed what, at what date and through what method.
- It reduces the chances of errors and confusion when constructing the executive spell.
- @GovAlpha-Core-Unit will update existing proposals such that they include statements in the required form where possible with the goal of transparency for past proposals.
- New proposals will be checked for these statements by the @MIP-Editors
- We will produce a amendment proposal to change the budget template to include this information - though note that we will be enforcing it on our own initiative regardless.
- We recommend that existing Core Units that are using legacy budget implementations produce a new budget proposal when they have the available bandwidth.
GovAlpha recommends that Core Units take MKR Budgets to the same level of ‘idiot proof’ clarity as detailed above with the DAI budgets, but we aren’t going to try to standardize these at this point.
However, going forward GovAlpha will not be implementing MKR transfers in executive votes without prompting. This means that if your CU is owed vested MKR, then you need to come and speak to one of the Governance Facilitators to ensure that it’s included in an executive. We will not be keeping track of dates for you, or accepting responsibility if these dates pass unnoticed.