MIP41c4-SP24: Facilitator Onboarding, Deco Fixed Rate Core Unit

MIP41c4-SP24: Facilitator Onboarding, Deco Fixed Rate Core Unit

Preamble

MIP41c4-SP#: 24
Author(s): Vamsi Alluri @Vamsi
Contributors:
Tags: deco, core-unit, fixed-rate, cu-deco-001
Status: Accepted
Date Applied: 2021-10-27
Date Ratified: 2021-11-22

Sentence Summary

MIP41c4-SP24 onboards Vamsi Alluri @Vamsi as Facilitator for the Deco Fixed Rate Core Unit;
for more information about the history of this MIP, please see here:

Specification

Motivation

Deco is led by Vamsi Alluri, principal protocol designer and smart contract programmer. Vamsi is a long time MakerDAO participant and formerly a member of the Maker Foundation Integration Engineering team as a Senior Integrations Engineer. He has assisted a large group of external partner companies to integrate with the Maker suite of products. Vamsi has been studying fixed rates in DeFi and the need for rate stability since the first signs of rate volatility within Single-Collateral Dai in 2018. He initially designed a product to provide stability to the Dai Savings Rate (DSR). Since then, he has focused on the market need of a fixed rate vault product, and as a result designed the core Deco smart contract to function seamlessly with Maker.

The purpose of the Deco core unit is to increase Maker’s competitiveness in the market, retain vault owners, attract new vault owners, and stabilize the Maker revenue stream. Vamsi has done extensive work in the past to help partners better understand risks around emergency shutdown and is motivated to reduce external dependencies and third-party protocol risk. Deco and its core unit achieve this by empowering Maker Governance, in collaboration with the existing Core Units, to effectively manage fixed rate product offerings.

Vamsi is deeply invested in the success of both Maker and the proposed Deco Fixed Rate Core Unit as the author of the white paper, whitepaper, and the designer and architect of the Deco Protocol. Vamsi is the author of the technical documentation and the Codebase repo of the base protocol implementation on Github.

Core Unit ID
DECO-001

Core Unit
Deco Fixed Rate Core Unit.

Facilitator Name and Information

Name: Vamsi Alluri
R/C: @vamsiraju
Keybase: @vr
Github: @vamsiraju
Twitter: @vamsiraju
ETH Address: TBD

Facilitator Commitment

My role is to support the mandates for the technical implementation of the Deco Fixed Rate Protocol, supervise its implementation and integration, and then to assure it performs as designed. It will also be my responsibility, with the help of support staff, to manage and direct the team and assure conformance to the budget which is reflective of the business plan. Deco is fortunate to have a deeply experienced team both from a technical and business perspective which gives us confidence in the prospects for great success.

Among my responsibilities are the following:
• Act as Facilitator and Team Lead for the Deco Core Unit
• Serve as the main point of contact for the Deco Core Unit
• Be the public voice of the Deco Core Unit on the Maker Forum and other appropriate venues
• Communicate and collaborate with the community, mandated actors, and other Core Units and stakeholders as appropriate
• Ensure the proper planning, use, and visibility of the budget
• Attract, hire, and retain the key talent
• Build a high performing team capable of scaling the Fixed Rate Product for Maker
• Operate the Deco Core Unit as a business with the aim of profitability

Facilitator Credentials

Experience at Maker

Vamsi’s experience at Maker is as follows
• Member of the Integrations Engineering team 2018-2021
• Early developer experience strategy for Maker with the developerguides repo and author of various developer guides
• Partner ecosystem Emergency Shutdown impact analysis
• Observed the evolution of the Maker protocol first-hand from the eDollar prototype until present.

Experience outside of Maker

• Solution Adoption Specialist, SAP Analytics, Palo Alto, CA 2015-2018
• Master’s in Computer Science and Engineering, University of Nevada, Reno, NV 2012-2015

Related Documents

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We are putting this up for formal submission.

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Please note that we have made some modest changes to the Deco proposal, for Formal Submission in the November cycle, to bring it into closer alignment with Maker general practices and by accepting a few suggestions.

  • Operational Entity following Integration. Upon completion of the integration of the Deco Protocol, the administrative, operational, and maintenance obligations, including legal, will be transitioned from the Core Unit to a separate legal entity, DecoM, which will function in alignment with Maker policy and procedures.
  • Reimbursement of All Payment to Deco. Deco will reimburse/credit to Maker in Dai all payments before receiving Revenue Share. Maker will pay to Deco 15% of the revenue from the Fixed-Rate CLAIM_FEE token sales only AFTER it has reimbursed the Deco Core Unit, and DecoM operating expenses, advanced by Maker, and any MKR distributions which are to be valued in Dai as of the date of acceptance and approval by Executive Vote Pass and to be utilized through December 1, 2024.
  • Budget. Also, there was a modest increase in the budget for legal.

We again look forward to any questions you may have as we seek to integrate the Deco protocol for Maker.

Best,
Vamsi

We are putting this up for formal submission.

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