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Greetings reader, both in and outside of the Maker community. Right now there are a lot of changes that are starting within MakerDAO. The Foundation has started the two to three year (give or take) process of training and handing the DAO over to the governance community. After which the Foundation will effectively dissolve or be absorbed into the DAO as elected paid contributors, or a little of both.
The Foundation has originated a framework for the initial proposed governance through a proposal workflow known as MIPs (Maker Improvement Proposals). The plan, as it stands from a very high level, is to provide the governance community with initial frameworks where needed. These can be ratified or differing MIPs can be introduced after the community discusses and debates. Also, practical application and experience will be primary guides delivered to the governance community from the Foundation. The goal is to leave the community with introductory, robust, alterable where needed, framework for all governance tasks related to a self-sustainable DAO in conjunction with the practical experience of administering these new constructs.
The Maker platform is strong. Strong execution of technology and a dedicated group between Foundation and governance members has given way to Maker bouncing back very quickly from black Thursday. Impressive. This same dedication will be the driving force behind what will be a historic transformation time, both for the DAO and for all of cryptocurrency and DeFi.
Here is a list of the first thirteen MIPs that introduce governance framework and collateral on-boarding. You will find the MIP number, title, and link to the forum discussion. A keen understanding of what is being proposed by all of the community will serve to build a strong DAO, always. I would be remiss not to take a moment to make a quick reference for those inside the community and those outside looking in. Book mark this page, copy it into an email, or whatever is easiest for you to be able to get to these informational resources often and easily.
Summary: MIP0 is the genesis proposal describing the MIPs Framework. This includes the core components and statuses as well as the various MIP types and the overall MIP life-cycle. Furthermore, it provides the necessary tools, such as MIP templates, replacement processes, and dependencies. Lastly, the proposal details the key roles of the framework, the MIP Editor and the Governance Facilitator along with the process for adding and removing them.
Sentence Summary: MIP1 defines and describes Governance Paradigms and problem spaces.
Summary: This proposal details the process of how Maker Governance can bootstrap the setup and implementation of the first Governance Paradigm. More specifically, it defines two phases:
- Phase 1: when a core governance framework is put in place and a functional collateral on-boarding process is ratified.
- Phase 2: when the Problem Space is in the process of being addressed with MIPs and MIP Sets. Lastly, the proposal states that MIP2 itself will become obsolete when the Problem Space has officially been addressed.
Summary: This proposal formally introduces a Governance Cycle. The Governance Cycle provides a predictable framework for Maker Governance decisions. Furthermore, it provides participants (MKR holders) with a monthly overview of the decisions that are to be made, allowing participation despite time constraints.
Sentence Summary: MIP4 defines processes for the amendment and removal of accepted MIPs.
Sentence Summary: MIP5 defines emergency changes to the protocol and Governance Facilitator role and how they should be handled in practice.
Sentence Summary: MIP6 provides an overview of defines a standardized application form used to kick off the process of on-boarding a new collateral asset to the Maker Protocol.
Sentence Summary: MIP7 defines processes for on-boarding and off-boarding domain teams.
Sentence Summary: MIP8 defines the process by which domain teams signal that a potential collateral type is worth the time spent investigating its inclusion in the Maker Protocol.
Sentence Summary: MIP9 defines the process by which MKR Token Holders can signal their judgment on the value of a potential collateral type before domain teams spent time fully investigating its inclusion into the Maker Protocol.
Summary: This proposal defines the process for on-boarding, off-boarding and managing oracles.
Summary: This proposal defines the process and requirements for risk teams to onboard general risk models for use in collateral on-boarding in MIP12.
Summary: This proposal defines the documentation requirements for the on-boarding of a new collateral type to the Maker Protocol, more specifically, the risk teams’ objectives and requirements to deliver it in a unified package risk construct.