M^0

Proposal

As more and more builders decide to create custom digital dollar products using the M0 platform, the set of tools made available for developers can include external service providers that offer specific functionality.

In order to promote the development of these partner service providers, this proposal introduces an initial set of eligibility criteria for Earners in the Adopted Guidance - particularly when those Earners are building a bespoke digital dollar product using M0. The fulfilment of such eligibility criteria could in the future be assisted or even enforced by partner service providers which developers will have the option to use.

Change #1

Section: 2.1. Actors

Old:

…

New:

… Earner: An Earner is simply a blockchain address approved by Governance that is able to receive the Earner Rate.

Change #2

Section: 7 Earners

Old: N/A

New:

7 Earners 7.1. Eligibility Criteria for Earners It is anticipated that Earners in the M0 ecosystem will correspond to institutional holders or builders of digital dollar products. The ultimate function of Earners is as a source of demand for M, making it more likely that Minters can efficiently generate it. This is effectively to say that Earners align nicely with the ultimate distributors of M to the broader market.

Earners are approved by Governance as discrete blockchain addresses. These Earner addresses must not match any OFAC or EU sanctioned blockchain addresses.

To the extent that an Earner address is used for the build out of a bespoke digital dollar product, specifically as a smart contract (or similar) that contains M and mints an asset that is itself made available to holders, then this smart contract must include a mechanism to ensure that the blockchain addresses of such holders do not match any OFAC or EU sanctioned blockchain addresses.

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