They ask for MKR compensation => MIP40c3-SP36: Deco Fixed Rate Core Unit MKR Budget
So they get DAI compensation, MKR compensation, 15% of revenues + buyout clause (the last two being a call option).
It is my understanding that without MakerDAO they can’t do anything. By reading the whitepaper, I understand that they are pivoting. All interest rate swaps protocols are capital inefficient and MakerDAO is the main stablecoin that can mint capital for collateral without any cost. This is the secret power of DAI (which I called balance sheet manipulations).
I would suggest that MakerDAO submit an RFP for all interest rate swaps-related protocols and make a decision with all data. @niemerg submitted a MIP long ago where all the code is done. They would probably submit an offer as well. @Akiva proposed one as well (asking nothing from MakerDAO).
I think it would be fair to let those people know we are willing to pay some millions for such a product and let them present what they would offer for that.