Last Week’s Activity
- An Inclusion Poll for the Core Personnel Onboarding of @LongForWisdom was published. This poll determined that the subproposal to add @LongForWisdom as a Governance Facilitator would proceed to the Governance Poll in Week 3.
- Last Thursday, the Inclusion Poll for the Core Personnel Onboarding of @LongForWisdom passed with the following results: 5,529.13 MKR > 403.99 MKR + 3000 MKR (Default Inclusion threshold).
- On Thursday’s Governance call, the Governance Facilitator and community members reviewed the Inclusion Poll results. The result of the review confirmed that the proposal at hand would be included in the Governance Poll that went live this Monday (2020-05-18).
- In addition to the review of the Inclusion Poll Review, @LongForWisdom introduced two new MIPs (MIP13: Declarations of Intent & MIP14: Protocol DAI Transfer) and announced that they have entered the Request for Comments (RFC) phase. The intention is to formally submit both of these MIPs in June’s Governance Cycle.
This Week’s Activity (Week 3 of the Governance Cycle)
- The Governance Facilitator submitted a Governance Poll for the Core Personnel Onboarding of LongForWisdom to be added as Governance Facilitator. This poll is still live until Thursday at noon EST (running for a total of three days)! The purpose of the Governance Poll is to determine if the subproposal to add @LongForWisdom should proceed to the final Executive Vote in Week 4 of the Governance Cycle.
- Tomorrow, the Governance Poll for Core Personnel Onboarding formally comes to an end, and the Governance Facilitator will perform the Governance Poll Review as part of the governance meeting in which they confirm the outcome of the Governance Poll in preparation for Week 4 of the Governance Cycle.
Next Week (Last Week of the Governance Cycle):
- The Executive Vote will be submitted if the Governance Facilitator confirms the ‘yes’ outcome of the Governance Poll during Week 3’s Thursday governance meeting.
Executive Vote Details:
- The vote will have an expiration of 4 days, after which it has no effect.
- MIPs and subproposals only move to the ‘Accepted’ status if the executive vote they are included in passes within the 4-day limit. If the executive vote fails to pass within the 4-day limit, the MIPs and subproposals have their status changed to ‘Rejected.’
The first Community Greenlight Poll is Published (Collateral Onboarding)
- The Community Greenlight poll will be published. The purpose of this poll is to give direction about what to do next regarding the active MIP6 applications. In general, the Community Greenlight polls will be published on the 4th Monday of the month to the 4th Friday of the month. The polls will run for two weeks.
- For further context, the Community Greenlight process is defined in MIP9. 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. While domain teams are free to choose their workload, the on-chain governance polls provide the Domain Teams critical insights into the community’s sentiment for each collateral type that has been proposed via a MIP6 application. In addition to this, it is crucial to gather the opinion of MKR Token Holders towards the proposed collateral asset before the full domain work takes place. This process helps prevent work from being wasted on undesirable collateral types.
- The Governance Facilitator will perform the Governance Cycle Review as part of the governance and risk meeting, in which they summarize and discuss the past Governance Cycle with the community.
- This meeting is also an opportunity to discuss the upcoming governance cycle and potential submissions for the next governance cycle.
In Other News
- With respect to the transition to the collateral onboarding framework, I want to re-emphasize that we are all still in the transition period from the current collateral onboarding practices to the MIPs process. During this period, the community will continue to use the weekly cycle format for collateral onboarding this month.
- Given that the Community Greenlight poll results will conclude two weeks after they are posted, the MIP12 proposals that include the domain work for the agreed-upon collateral assets will not be ready for June’s governance cycle. In summary, this means that the domain teams will determine which assets they intend to work on and begin work on the deliverables throughout the month of June.
Related Community Calls
Community Collateral Onboarding Call (2020-05-20)
- Continue the discussion that started last week on the Governance and Risk call regarding the [PC-DROP] and [CF-DROP] application.
- Go through other applications (such as [FIAT]) that are awaiting Domain Team Greenlight.
- Video Recording