Ratification Poll for Permissionless Open Market Operations (MIP74) - June 13, 2022

The Governance Facilitators have placed a ratification poll into the voting system as part of the responsibilities defined in MIP51. This Governance Poll will be active for fourteen days beginning on Monday, June 13 at 16:00 UTC.

This is a binary vote.

• You may vote for a single option.
• You should vote for the option which you prefer.
• If you would accept either option, you should vote ‘Abstain’.

Review

The community may vote in this poll to express support or opposition to MIP74 being accepted and implemented in the Maker Protocol.

A brief summary of this proposal has been provided by the MIP Author and is shown below:

MIP74 defines the process that will be used to agree and take action on a number of permissionless open market operations with funds controlled by MakerDAO. The MIP proposes the utilization of the DssKiln module in order to make permissionless open market operations over a predetermined time period. The DssKiln module can be used for but is not limited to: (i) altering asset allocations of the surplus buffer, (ii) DAO treasury management, and/or (iii) management of possible future funds controlled by Core Units or other bodies of MakerDAO. For example, the DssKiln is able to perform certain actions that the Maker community has previously proposed and discussed, including an alternative mechanism for MKR burning, and/or purchasing ETH with DAI from the surplus buffer.

Please review the links below to inform your position on this proposal before voting.

• Canonical Proposal Version
• Latest Proposal Version
• Proposal Discussion Thread

Outcomes

This poll implements a Minimum Positive Participation value. The Minimum Positive Participation is currently set to 10,000 MKR.

If the votes for the ‘Yes’ option exceed the votes for the ‘No’ option AND the votes for the ‘Yes’ option exceed 10,000 MKR, then the following actions will be taken:

• The MIP Editors will mark the proposal Accepted and the Governance Facilitators will confirm its passage on the Governance and Risk call on Thursday, June 30.
• Any further work required to implement the proposal will be tasked to the relevant Core Units.

Otherwise, this proposal will be marked as rejected per MIP51.

,

Resources

MIP51: Monthly Governance Cycle describes this type of poll and its position and significance within the rest of the governance cycle.

If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works, and this wallet setup guide to set up your wallet to vote.

Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.

To participate in future Governance calls, please join us every Thursday at 17:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.