MIP4c2-SP8: MIP 9 Amendments

MIP4c2-SP8: MIP 9 Amendments

Preamble

MIP4c2-SP#: 8
MIP to be amended: MIP9
Author(s): Elihu (@Elihu)
Contributors:
Status: Formal Submission
Date Proposed: 2021-03-01
Date Ratified:

Sentence Summary

MIP4c2-SP8 introduces a second poll date on the 1st Monday of each month.

Specification

Motivation

This amendment MIP proposes changes to MIP9.

The monthly poll date means that in some scenarios, a collateral asset must wait up to 6 weeks for inclusion in the community greenlight poll since its MIP6 application. This amendment seeks to make such scenarios impossible by introducing a second poll date on the 1st Monday of each month, in addition to the 3rd Monday, thus ensuring the polls take place bi-monthly. The 14-day discussion and voting period is maintained.

Amended Components

  • MIP9: Community Greenlight
    • Paragraph Summary
      • Added mention of the additional community greenlight poll in the first week of the governance cycle.
    • c1
      • Added mention of the start of the additional community greenlight poll on the 1st Monday of each month.
    • c3
      • Changed mentions of monthly greenlight polls to bi-monthly and fixed typos.

Amendment Pull Request (PR)

Relevant Information

  • None
1 Like

MIP9: Community Greenlight

Preamble


MIP#: 9

Title: Community Greenlight

Author(s): Rune Christensen (@Rune23), Charles St.Louis (@CPSTL)

Contributors: @LongForWisdom, Leo Jsaraceno (@Mitote), Helge Andreas Qvam (@planet_X), Elihu (@Elihu)

Type: Process

Status: Accepted

Date Proposed: 2020-04-06

Date Ratified: 2020-05-02

Last Amended: 2020-06-25

Dependencies: MIP6

Replaces: n/a

References

No referenced materials.

Sentence Summary

MIP9 defines the process by which MKR Token Holders can signal their judgment on the value of a potential collateral type before domain teams spend time thoroughly investigating its inclusion into the Maker Protocol.

Paragraph Summary

This proposal aims to standardize the process for allowing MKR Token Holders to inform the Domain Teams of their preferences for collateral types that have been proposed through MIP6. The preferences of the MKR Token holders are expressed in the form of an on-chain governance poll. The governance polls (Community Greenlight polls) are published at the start of the first and third weeks of the governance cycle and will run for a period of two weeks.

Component Summary

MIP9c1: The Community Greenlight Process

Defines the community greenlight process and its interaction with the collateral onboarding process.

MIP9c2: The Community Greenlight Outcomes

Defines the possible outcomes from the community greenlight process.

MIP9c3: The Community Greenlight Requirements

Defines the responsibilities of the Governance Facilitators in the community greenlight process.

MIP9c4: Community Greenlight Poll Template

Defines a governance poll template to be used in the on-chain Community Greenlight poll.

Motivation

While domain teams are free to choose their own workload, an on-chain governance poll provides the Domain Teams key insights into the community’s sentiment for each collateral type that has been proposed. In addition to this, it is important to gather the opinion of MKR Token Holders towards the proposed collateral asset before the full domain work takes place. This helps prevent work from being wasted on undesirable collateral types.

Specification / Proposal Details

MIP9c1: The Community Greenlight Process

  • For an asset to be onboarded to the Maker Protocol, it must pass an executive vote as part of MIP12. Community greenlight is the process through which early sentiment is measured and used to direct the work of domain teams towards assets that MKR Holders will be willing to onboard after work has been completed.

  • The community greenlight process for a potential collateral asset consists of an on-chain governance poll using the template defined in MIP9c4.

  • The community greenlight polls occur at fixed times each governance cycle, starting on the 1st and 3rd Mondays of the month and running for a period of 2 full weeks.

  • A potential collateral asset is valid for a community greenlight poll if it has a MIP6 Application that has been published on the official forum for a period of 2 weeks prior to the start date of the greenlight poll.

Community Greenlight Process Overview Diagram


MIP9c2: The Community Greenlight Outcomes

Greenlit

  • The community greenlight poll for the potential collateral asset ends with more greenlight votes than deferred votes.

  • The potential collateral asset is marked as having been greenlit by the community.

  • Domain teams may feel confident in allocating time to work on the potential collateral asset.

  • The potential collateral asset is now eligible for the domain greenlight process defined in MIP8.

Deferred

  • The community greenlight poll for the potential collateral asset ends with more defer votes than greenlight votes.

  • The potential collateral asset is marked as having been deferred by the community.

  • Domain teams may still choose to work on a collateral type that has been deferred if they are confident that governance will approve future inclusion.

  • Community greenlight polls for assets that have been deferred can be rerun in the future at the discretion of the Governance Facilitators.

Community Greenlight Poll Scoring

The polls are scored as follows:

  • Score = Yes Votes - No Votes

  • Score > 0 = Greenlit

  • Score < 0 = Deferred

Community Greenlight poll scores provide a reasonable first approximation of which assets domain teams should prioritize. However, this prioritization is not binding on the domain teams. Domain teams are free to determine the order in which they perform domain greenlights and domain work.


MIP9c3: The Community Greenlight Requirements

  • The Governance Facilitators are responsible for creating a Community Greenlight Poll for each valid potential collateral asset bi-monthly.

  • If a previously deferred potential collateral asset is included in the bi-monthly greenlight polls, a reason must be communicated to the community via the official forum before the greenlight poll occurs.

  • The Governance Facilitators are responsible for maintaining a list of collaterals based on the outcome of the individual Community Greenlight Polls. This list should include collateral types that have been both greenlit and deferred.

  • At the Governance Facilitators’ discretion, community greenlight polls may be deferred to a later date.

  • At the Governance Facilitator’s discretion, community greenlight polls may be deferred to a later date.

  • If the Governance Facilitators opt to defer community greenlight polls, a reason must be communicated to the community via the official forum before the greenlight poll was scheduled to take place.


MIP9c4: Community Greenlight Poll Template

In this template, the asset ETH is used as an example collateral type.

Additional informational material or reference links may be added to the poll content at the discretion of the Governance Facilitators.

Governance Poll Template:

Poll Title

MIP9 Community Greenlight Poll: ETH (Ether)

Description

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding ETH (Ether) as a collateral asset to the Maker Protocol.

Duration of Poll

Two weeks

Poll Options

  • Yes (Greenlight)

  • No (Defer)


To see how the changes compare to the original look at the Amendment PR

1 Like

Moving this MIP to Formal Submission.

1 Like

Right on, nice work :slight_smile: