M^0

Proposal

This present proposal recommends the inclusion of BlackRock USD Institutional Digital Liquidity Fund (BUIDL) product as one of the explicitly approved so-called wrappers of United States Treasury Bills to be deemed Eligible Collateral as per section 3.1, and valued in accordance to section 3.2 in the Adopted Governance — i.e. without any additional haircuts given no additional risk overlay of the wrapping technology.

The BlackRock USD Institutional Digital Liquidity Fund (BUIDL) was analyzed in detail by several teams in the M0 ecosystem, including members of M0 Labs, MXON, and the M0 Foundation. After thorough diligence, the product is being recommended to distributed governance as suitable for the ecosystem. For more information on BUIDL, see https://securitize.io/blackrock/buidl . For any questions on the due diligence and findings, please contact joao.reginatto@m0.org.

Change #1

Section: 3.1. Criteria for Eligible Collateral

Old:

i. Criteria for the Eligibility of Assets: …

• List of approved wrappers: Superstate Short Duration US Government Securities Fund (commonly referred to as USTB).

New:

i. Criteria for the Eligibility of Assets: …

• List of approved wrappers: Superstate Short Duration US Government Securities Fund (commonly referred to as USTB), (2) BlackRock USD Institutional Digital Liquidity Fund (commonly referred to as BUIDL).