Good morning everyone.
The above is pretty much the summary statement regarding moving forward.
MKR holders have no obligation to issue any compensation to any one for any thing.
Everyone knows I tend to look at the bigger picture here. This Compensaion Plan(CP) above is pretty much the best measure of how to move forward on the subject from my perspective in the compensation group as well as the data guy atm. See Phases 0, 1, 2.
From a Maker and a Vault Holder perspective it is a take it or leave it proposal. Governance could balk on the above CP and simply say no leave it to courts whatever. If governance says yes to the CP they are also saying they ‘still’ are not obligated to actually ‘do’ anything, The same is true from vault holder perspective: IF governance DOES anything, they still gets to say yes, or no, to whatever offer governance lays on the table for each of them here by simply not acting, they opt out.
We did the best job and presented two different methods in Phase 2 to spead compensation across a class of vaults to catch the most affected based on a number of governance controlled criterion. We chose to pick up any straggling vaults making claims as we go along in this process as governance progresses and discussion and polling ensues in Phase 3.
The details ultimately - to be discussed/polled on Phases 0-4.
One thing I want people to pay attention to. We don’t expect the vault class to 100% accept this deal.
We want it to be clear by being forced to ‘opt in’, not doing anything means opting out! While I would hope a deal would be accepted 100%. I personally don’t expect this. If even 50% of the class to opt in I think the CP would be a success to some extent.
Hence whatever pricetag is placed on this CP by governance realize perhaps > 50% of it won’t be claimed.
Beyond this there is some challenge to hammer out the details. Particularly when we come to poll 2 - compensation method but once we hurdle that the rest should be pretty easy.
I want vault holders to know that anyone that falls outside of the class proper however this is decided you guys aren’t forgotten. It is a general hope (see icebox) that governance takes into account how to settle up any secondary claims via discussion but imho think the group doen’t feel like we can unilaterally address this, governance has to speak to certain issues, and we as the group then are guided by governance. Our job is to frame this so the community and governance can speak.
Our group goal as the CP creator was simply to try to put some kind of plan together that can be acted on by governance however we may personally side here.
The CP is our best shot where MKR holders can realistically offer a good gesture hand to vault holders who feel like they got hammered on BT to settle the issue and move forward.
Honestly if someone, any one has a better idea or a great reason to stop this feel free to speak up because so far a lot of work has been put into this, it is time to $DAI or get off the pot. The CP above as presented is our best shot here.
As always submitted for public comment and debate.