Maker Governance has passed several budgets that include payments of MKR to Core Unit members as part of a compensation package. It is not inconceivable that other expenses denominated in MKR may become apparent in the near future. Some of the current MKR vesting schedules may be seen on Makerburn.
At present, there is no clear indication about what should be the source of the MKR used for these expenses. There are two main options to source this MKR:
- Use MKR from the MakerDAO Treasury - currently MakerDAO owns 83700.1 MKR that was transferred from the Maker Foundation. This is visible at the address: 0xBE8E3e3618f7474F8cB1d074A26afFef007E98FB
- Mint new MKR using the PauseProxy
The purpose of this poll is to see which of these two mechanisms Maker Governance would prefer to utilise.
This thread on the forum contains some discussion around this already and may make for useful reading.
- We already own this MKR - no requirement to mint new MKR or purchase it on the open market
- Does not inflate MKR supply - this MKR already exists, although it is currently locked.
- Governance has previously demonstrated a desire to delay spending this MKR. See thread.
- Some community members have called for this MKR to be burned. See this thread and this signal request. Committing to using this MKR will likely prevent this to a degree.
- Familiarises people within and outside the DAO with the concept of minting MKR. Further MKR minting has been suggested in some recent proposals.
- Preserves the amount of MKR which the DAO owns directly for future use.
- Dilutes overall MKR supply, potentially decreasing the MKR/DAI ratio.
- Minting new MKR potentially carries some legal and/or regulatory risk.
- Mint New MKR
- Use Treasury MKR
Poll will run for two weeks until Saturday, November 27th. Following this, an on-chain vote will be held for MKR holders to confirm the decision.