Transfer redeemer contract ownership from the Foundation to Governance

Hi All,

I wanted to bring up a small but critical task as the Foundation continues on its path to dissolution and the community towards full decentralization. As of today, May 3 2021, the Foundation has transfered technical ownership of the redeemer contract to Maker Governance.

Until today, the Foundation’s multisig owned the redeemer contract.

The redeemer contract holds a remaining 19,587 MKR that permits addresses to swap their old MKR for new MKR.

This redemption process is possible via the makerdao.com/redeem page. This page was created in 2017 in preparation for the launch of Single-collateral Dai.

Please note that this does not change the current mechanics for users who wish to redeem - that process remains the same and interested parties may visit https://makerdao.com/redeem/.

What do you have to do

  • Nothing; to verify the statements above, one may verify Governance ownership of the redeemer by checking check the “MCD_PAUSE_PROXY” (0xBE8E3e3618f7474F8cB1d074A26afFef007E98FB).
20 Likes

Confirming that the ownership of the redeemer has been changed.

I want to suggest that governance leave these funds intact, these are the funds used to upgrade old (v1) MKR to the (v2) MKR we all know and love. Despite the initial redemption beginning several years ago this contract still processes redemptions pretty frequently.

5 Likes

Yea, I don’t think (hopefully) anyone has the idea to steal other peoples MKR.

3 Likes