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Ratification Poll - Declaration of Intent - Invest in Short-Term Bonds (MIP13c3-SP12) - March 14, 2022.md

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title summary discussion_link vote_type categories options start_date end_date
Ratification Poll for Declaration of Intent - Invest in Short-Term Bonds (MIP13c3-SP12) - March 14, 2022
Declaration statement for this proposal - Invest in Short-Term Bonds.
Plurality Voting
MIPs
0 1 2
Abstain
true
false
2022-03-14 09:00:00 -0700
2022-03-28 09:00:00 -0700

Ratification Poll for Declaration of Intent: Invest in Short-Term Bonds (MIP13c3-SP12) - March 14, 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, March 14 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 MIP13c3-SP12 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:

MakerDAO governance wish for any party to provide a comprehensive solution to this matter:

  • As of writing, around 60% of the MakerDAO balance sheet is in stablecoin. We are often above 50% of stablecoin for the last 18 months. This provides no revenues for MakerDAO, provides bad PR and significant counterparty risk on Circle, and to a lesser extent on Paxos
  • It becomes clear that investing in DeFi Money Markets is not easy to scale (D3M rarely use more than 50M DAI)
  • Work in this direction was stopped and a potential Core Unit potentially doing this job was never established

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

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, March 31.
  • 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.