Poll: Deploy a Trial Permissionless Open Market Operation - June 13, 2022

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Community. This Governance Poll will be active for three 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 can vote in this poll to express support or opposition to the following changes:

• Deploying a trial of permissionless open market operations on MKR, as detailed in the proposed MIP74.
• Implementing the methodology and parameters detailed below, notably resulting in a vesting stream of 3 Million DAI for funding the purchase of MKR:

Proposed operation parameters and methodology

• Methodology
  • 3M DAI will be vested from the Surplus Buffer to the deployed contract for 3 months.
  • The Oversight group will consist of Risk CU and Protocol Engineering CU, performance reporting will be conducted no less than on a monthly basis.
• General operation parameters
  • sell the token to be deposited into DssKiln and sold - [DAI]
  • buy the token to be bought in exchange for the sold token - [MKR]
  • hop duration specified in seconds. It represents a minimum number of seconds that must pass before the lot can be sold - [38880 seconds or 10.8 hours]
  • lot the maximum quantity of tokens to be sold per hop - [30k DAI]
• Specific operation parameters
  • To be published by Risk CU and Protocol Engineering CU once the code required is fully developed and all operation-specific parameters are defined.

Please review the discussion thread to help inform your position before voting.

Outcomes

If the votes for the ‘Yes’ option exceed the votes for the ‘No’ option then the following actions will be taken:

• This change will be included in an upcoming Executive Vote as the Protocol Engineering Core Unit’s schedule allows, following an external audit.
• It is expected that this Executive Vote will take place within 30 days of the completion of the audit, absent external factors.
• If the Executive Vote passes, then these changes will become active in the Maker Protocol after the GSM Pause Delay has expired.

If the votes for the ‘No’ option equal or exceed the votes for the ‘Yes’ option then no further action will be taken at this time.

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Resources

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.