Maker Governance Review: June 2020

The Maker Governance Review is a monthly recap of all Governance activity, from Governance Cycle progress and polling and voting history to blog posts focused on community decision-making. Each review is written by the Maker Improvement Proposals (MIPs) Editor to keep the Maker community informed of Governance developments.

Key Outcomes of the Second Governance Cycle

The second Governance Cycle, which began June 1 and ended on June 26, included some significant milestones for the Maker community and MakerDAO.

Six proposals entered the Governance Cycle this month and were successfully ratified on June 25. With the passing of these proposals, Maker now officially has a Risk Domain Team, an updated Collateral Onboarding framework, and a new system to enable Maker Governance to signal an intention to the wider community. Learn more about the six ratified proposals: 

  1. MIP13: Declarations of Intent
  2. MIP4c2-SP1: MIP6 Amendments
  3. MIP4c2-SP2: MIP8 Amendments
  4. MIP4c2-SP3: MIP9 Amendments
  5. MIP4c2-SP4: MIP12 Amendments
  6. MIP7c3-SP2: Subproposal Adding a Risk Domain Team Onboarding

Next, two new MIPs were submitted with the intention to enter July’s Governance Cycle: 

  1. MIP16: Weekly Governance Cycle 
  2. MIP17:  Weekly Actual Debt Ceiling Adjustments and Utilization Based Risk Premium Adjustments

These proposals are currently in the Request for Comments (RFC) phase, meaning now is the time for the Maker community to provide feedback on them or request changes from the Proposal Authors. 

The weekly and monthly Governance Cycles at a glance.

MIPs Resources

Remember to review the Maker Improvement Proposals Category in the Maker Forum and visit the #mips channel to discuss topics related to MIPs, the Self-Sustaining MakerDAO Initiative, and long-run governance. 

To learn more about the governance activities that occur during the Monthly Governance Cycle, see MIP3 for a week-by-week breakdown. 

For the most current MIP-related activity, see the official MIPs Github page.

June Governance Polls and Executive Votes 

June resulted in six successful proposal votes; adjustments to Stability Fees, the Base Rate, and Debt ceilings; and the addition of both KNC (Kyber Network) and ZRX (0x) as new collateral assets in the Maker Protocol. 

To stay current on governance, risk, and community issues, bookmark the MakerDAO Public Events Calendar. Newcomers to Maker might want to review our series of posts on the MakerDAO Governance Risk Framework.

What’s Ahead

The third Governance Cycle begins on July 6, signaling the start of the Formal Submission period for new MIPs, Subproposals, and Collateral Applications. The formal submission period ends on July 8. Proposals will be approved or denied by Governance Facilitators on the weekly Governance call. If approved, proposals will enter the Governance Cycle in week two of the July Cycle through Inclusion polls on July 13. 

Also, be sure to keep an eye out for the Weekly MIPs Update, typically posted in the Maker Forum on Sundays. The update summarizes the most recent events in the world of MIPs, the previous week’s activity, what to expect from the current week, and what’s on the agenda for the next week. It also covers updates with respect to Governance polls and votes, collateral onboarding, and rate adjustments.

About Maker Improvement Proposals

MIPs support the organic growth that further expands MakerDAO’s self-sustainability by providing the Maker community and all stakeholders with a standard approach to proposing improvements, specifications, and process and state changes to the Maker Protocol and MakerDAO. 

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