---
# System prepended metadata

title: Monthly Governance Review | March 2022
tags: [Monthly Governance Review]

---

---
tags: Monthly Governance Review
---

# Monthly Governance Review | March 2022

![](https://i.imgur.com/TOIya2U.png)

> A public PDF version of this post is available [here](https://pdfhost.io/edit?doc=810a1fe9-083a-4658-93de-b536f7aa3e9c).
> Show some love to our [Medium account](https://medium.com/@MkrGovComms) :heart:

## Governance Summary

##### Votes and Polls

March had less governance activity than usual, partly due to [not having an executive vote](https://forum.makerdao.com/t/no-planned-executive-2022-03-18/13923) on March 18.

One poll that passed but has not yet been bundled into an executive vote is the [Ambassadors Pilot Program](https://vote.makerdao.com/polling/QmPpQ49p#poll-detail) governed by Kat, which has the objective of making Spanish translations of all evergreen resources available to the public. 

Eleven ratification polls took place in March and successfully passed. There were no Community Greenlight polls.

*Check out Key Outcomes below for additional details on Polls and Votes.*

##### Financials and Budgets

The month started with Strategic Finance presenting their [Quarterly Strategy Review](https://forum.makerdao.com/t/quarterly-strategy-review-q4-2021-public-call-on-friday-3-11-22-5-00pm-utc/13734) of Q4 2021. Discussion on improving workforce spending vs. protocol revenue continues to gain traction, and community members provide their opinions ([1](https://forum.makerdao.com/t/call-for-responsible-budget-and-process/13816), [2](https://forum.makerdao.com/t/rfc-budget-request-mip-break-on-going-from-expansion-budget-requests-budget-polling-to-rcv/13877), and [3](https://youtu.be/cMLUkPq7RNo?t=2270)) on potential concerns and solutions. 

There was an Issue Discussion Call about the Budget Modification Process to engage public discussion, invite questions, and introduce the MIP40 Reform Proposal. Check out the [video](https://youtu.be/1UE98EVrk2I) and [Medium summary](https://medium.com/@MkrGovComms/makerdao-budget-modification-process-discussion-b259784c5468) for more information.

397,184 Dai was transferred to two Core Units: Collateral Engineering Services and Immunefi Security. In addition, a total of 397,184 Dai was streamed to the Collateral Engineering Services, Immunefi, and Risk Core Units. *Additional information on Core Unit budget activity is displayed below in the Key Outcomes section.*

##### Delegation and Compensation

March includes two new Recognized Delegates. Please welcome [Flipside Crypto](https://vote.makerdao.com/address/0x84b05b0a30b6ae620f393d1037f217e607ad1b96#delegate-credentials) and [Hasu](https://vote.makerdao.com/address/0xafaff1a605c373b43727136c995d21a7fcd08989#delegate-credentials).

<details><summary>
    <i>End of March delegate summary:</i><br></br>
</summary>

![](https://i.imgur.com/tZp1Xi5.png)

</details>

##### Tokenomics

Discussions and tokenomic challenges within the DeFi space have sparked several proposals for improving MKR tokenomics to increase governance participation, governance security, user incentivization, and the fundamental value of the MKR token.

- monet-supply submits a proposal idea for [stkMKR: Maker Staking and Tokenomics Revision](https://forum.makerdao.com/t/stkmkr-maker-staking-and-tokenomics-revision/13890). There is also a [Focus On call recording](https://forum.makerdao.com/t/focus-on-8-stkmkr-staking-tokenomics-revision/14001) with monet-supply available on YouTube.
- Porter_Smith submits a [Tokenomics Proposal Overview](https://forum.makerdao.com/t/a16z-makerdao-tokenomics-proposal-overview/14134).

##### Collateral and RWA

March saw multiple discussions on the forum and public calls concerning strategies, clarifications, and improvements in the onboarding process for new collateral assets and real-world assets (RWAs).

- monkey.irish submitted a [post](https://forum.makerdao.com/t/clarity-around-collateral-onboarding-process/14221) clarifying the collateral onboarding process.
- Frank_Brinkkemper submitted a [discussion and informal poll](https://forum.makerdao.com/t/informal-poll-actions-to-increase-competitiveness-of-eth-steth-collateral/14090) around actions to increase the competitiveness of ETH & stETH collateral.
- [Governance and Risk Call | Ep. 181](https://youtu.be/GIa-7PnBfeA?t=1894) featured an open discussion around RWA collateral management.
- roollie submits a [posted](https://forum.makerdao.com/t/a-rwa-defi-ecosystem-more-than-just-onboarding-collateral/14079) exploring the RWA DeFi ecosystem beyond onboarding collateral.
- The Lending Oversight Core Unit (LOVE) [posted](https://forum.makerdao.com/t/the-lending-oversight-core-unit-love-001-cu-overview-incubation-update/13858) their Core Unit overview and incubation update, which includes improved assessment and workflow for collateral applications. 
- lyt from the Strategic Finance Core Unit [posted](https://forum.makerdao.com/t/quick-comparison-of-steth-lending-markets-maker-vs-aave/14010) a short comparison of stETH lending markets on Maker vs. Aave.

##### Core Unit Activity

The month finished with 19 active Core Units. The MakerShop Core Unit [has stepped down](https://vote.makerdao.com/polling/QmV3Lem7#poll-detail) and is discussing a potential mandate handover to Andrew Burban of the Strategic Happiness Core Unit or another team happy to take over. 

It has been two months since the complete offboarding of the Content Production Core Unit. GovAlpha [submitted](https://forum.makerdao.com/t/content-production-core-unit-offboarding-post-mortem/13756) a post mortem containing a timeline of activities and recommendations for the entire offboarding process.

##### Governance and Risk Calls

Governance and Risk Calls pre-semi-transcription summaries can now be found on the [GovComms Medium Channel](https://medium.com/@MkrGovComms).

- [Governance and Risk | Ep. 183](https://medium.com/@MkrGovComms/makerdao-governance-mips-forums-and-tokenomics-growth-e0d513c9e8f0)
- [Governance and Risk | Ep. 184](https://medium.com/@MkrGovComms/makerdao-governance-mips-forums-and-steth-market-share-strategy-9a5983e3b95c)

---

*Check out 'What's Ahead?' below for insights on what to expect in April!*

## Key Outcomes

*All votes mentioned are assumed to have successfully passed unless otherwise noted.*

### ![](upload://4NcPO3IAEq0UnQkwdgtFYnrzk6O.png) Initial Parameters for StarkNet Simple DAI Bridge

The community supported implementing a Starknet simple bridge limit of 5 million DAI. The Starknet Engineering Core Unit will proceed with deploying the StarkNet simple bridge once the listed requirements are met.

<details><summary>
    <b>More Information</b><br></br>
</summary>

The bridge limit is the maximum amount of Dai that can be in the L1 bridge contract. Hence, it is the maximum amount that users can lose. This will not include the Fast Withdrawals component, which is planned for release later this year and will be put through a separate governance process.

The bridge launch will require completing all the mandatory items on the [checklist](https://docs.google.com/spreadsheets/d/1lg4LFQCW7x4bcR8gEgHoE7DB2rqa4GA4DPSUdMOgBsI/edit#gid=718243816). Users will use the simple bridge at their own risk; this will be mentioned on the bridge's user interface.

</details>

### ![](upload://4NcPO3IAEq0UnQkwdgtFYnrzk6O.png) Authorizing ESM on DssFlash to Remove Governance Permissions

The [Emergency Shutdown Module](https://makerdao.world/en/learn/governance/emergency-shutdown) was authorized on the [Flash Mint Module](https://manual.makerdao.com/module-index/module-flash-mint-module).

<details><summary>
    <b>More Information</b><br></br>
</summary>

Based on [this post](https://forum.makerdao.com/t/proposed-security-fix-to-be-added-in-the-march-25th-2022-executive-spell/14197) from the [Protocol Engineering Core Unit](https://mips.makerdao.com/mips/details/MIP38#protocol-engineering-pe-001-), this change was intended to patch a vulnerability discovered in the [interaction between the Emergency Shutdown Module and the Flash Mint Module](https://forum.makerdao.com/t/flash-loan-debt-manipulation-during-emergency-shutdown-vulnerability-postmortem/14036). Specifically, this change prevents a malicious governance action from re-activating the DssFlash module after the [FlashKiller contract](https://github.com/makerdao/flash-killer) disables it.

</details>

### ![](upload://4NcPO3IAEq0UnQkwdgtFYnrzk6O.png) Adding Support for New TUSD Implementation

Support for the new TUSD implementation address was added.

<details><summary>
    <b>More Information</b><br></br>
</summary>

Based on [this post](https://forum.makerdao.com/t/2022-03-25-adding-support-for-the-new-tusd-implementation-address/14189) from the [Protocol Engineering Core Unit](https://mips.makerdao.com/mips/details/MIP38#protocol-engineering-pe-001-), this addition was intended to resume collateral operations for TUSD-A, which were automatically halted after a [February 24th change](https://etherscan.io/tx/0x125823f2914e4f14e06b9b1b30fe9dd9512b36354cc1f6c063118c4fe03d8287) in which the TUSD team pointed to a new implementation address.

For additional information, please consider reading [this thread](https://forum.makerdao.com/t/tusd-disabled-due-to-unannounced-token-upgrade/2747) on the last time the TUSD contracts were modified.

</details>

### ![](upload://4NcPO3IAEq0UnQkwdgtFYnrzk6O.png) Mitigate Post-Shutdown Flash Loan Vulnerability

On March 9th, an executive proposal passed to mitigate the post-shutdown flash loan vulnerability in the Maker Protocol, as described by the Protocol Engineering Core Unit [here](https://forum.makerdao.com/t/post-shutdown-flash-loan-vulnerability-announcement-and-remediation-plan/13746).

<details><summary>
    <b>More Information</b><br></br>
</summary>

Changes include:
-   Giving a new module `flash-killer` authorization over the [Flash Mint Module](https://manual.makerdao.com/module-index/module-flash-mint-module) so that anyone can permissionlessly use `flash-killer` to disable the [Flash Mint Module](https://manual.makerdao.com/module-index/module-flash-mint-module) in the event of an [Emergency Shutdown](https://makerdao.world/en/learn/governance/emergency-shutdown).
-   The vulnerability is not exploitable until three days (currently) after an [Emergency Shutdown](https://makerdao.world/en/learn/governance/emergency-shutdown) is triggered, meaning there is a 3-day window where any user can disable the [Flash Mint Module](https://manual.makerdao.com/module-index/module-flash-mint-module) using `flash-killer` before an exploit can take place.

The Protocol Engineering Core Unit considers this a temporary mitigation and recommends that the issue be solved more permanently in the future via the replacement of the [Flash Mint Module](https://manual.makerdao.com/module-index/module-flash-mint-module). The source code for the `flash-killer` module can be found [here](https://github.com/makerdao/flash-killer). The `flash-killer` contract address is [0x07a4BaAEFA236A649880009B5a2B862097D9a1cD](https://etherscan.io/address/0x07a4BaAEFA236A649880009B5a2B862097D9a1cD).

</details>

### ![](upload://4NcPO3IAEq0UnQkwdgtFYnrzk6O.png) Add Rate Limiter to Flap Auctions

As per two successful governance polls ([1](https://vote.makerdao.com/polling/QmagLVA2), [2](https://vote.makerdao.com/polling/Qmdd4Pg7)), a new rate limiter was added to the flapper contract.

<details><summary>
    <b>More Information</b><br></br>
</summary>

Changes include:
-   [Modifying the Flapper-Contract](https://forum.makerdao.com/t/rate-limited-flapper/13056) by introducing a rate limit so the protocol can control the amount of simultaneously running flap-auctions. This is achieved by limiting the amount of Dai that can be simultaneously auctioned for MKR.
-   Adding a parameter, `lid`, that sets the total amount of DAI allowed to be sent out to [surplus (flap) auctions](https://auctions.makerdao.com/flap) at once.
-   Set the `lid` parameter to **150,000 DAI**.

Please note that this executive proposal does not include a [System Surplus Buffer](https://manual.makerdao.com/parameter-index/core/param-system-surplus-buffer); the Surplus Buffer will remain at the current value of 250 million Dai.

</details>

### ![](upload://4NcPO3IAEq0UnQkwdgtFYnrzk6O.png) Immunefi Bug Bounty Payouts

As part of the [Immunefi Bug Bounty Program](https://mips.makerdao.com/mips/details/MIP64), a total reward amount of 2,750 DAI was transferred.

<details><summary>
    <b>More Information</b><br></br>
</summary>

-   **2,500 DAI** was transferred to [0x3C32F2ca11D92a7093d1F237161C1fB692F6a8eA](https://etherscan.io/address/0x3C32F2ca11D92a7093d1F237161C1fB692F6a8eA).
-   **250 DAI** was transferred to [0x2BC5fFc5De1a83a9e4cDDfA138bAEd516D70414b](https://etherscan.io/address/0x2BC5fFc5De1a83a9e4cDDfA138bAEd516D70414b).

For further details, please see [this forum thread](https://forum.makerdao.com/t/bounty-payout-request-for-immunefi-bug-5565/13545).

</details>

> #### ![](upload://oTgYYLdm88fzyEWeb7hCZN63VbW.png) Amend MIP64 to clarify critical web bounty amount (MIP4c3-SP1) 

This [governance poll](https://vote.makerdao.com/polling/QmQD5PDm#poll-detail) passed, demonstrating support for amending MIP64 with MIP4c3-SP1 to clarify the critical web bounty amount.

<details><summary>
    <b>More Information</b><br></br>
</summary>

The proposal author offered the following motivation for this amendment to [MIP64c3](https://mips.makerdao.com/mips/details/MIP64#MIP64c3):

*The reward for Critical website and application bug reports was not specified as intended. The reward was specified at 100,000 DAI "if the impact leads to a direct loss in funds or a manipulation of the votes or the voting result, as well as the modification of its display leading to a misrepresentation of the result or vote." This part is clear. "All other impacts classified as Critical would be rewarded no more than USD 50,000." The words no more than suggest that inequality is intended. That is, bounty <= $50k instead of bounty = $50k.*

*We omit the words "no more than" to obtain the intended reward mechanics.*

</details>

### ![](upload://eDoKQAwLZfziEIrlfcPu0bP70SY.png) Vault Management

#### Onboarding CRVV1ETHSTETH-A

As per [this successful governance poll](https://vote.makerdao.com/polling/Qmek9vzo), the CRVV1ETHSTETH-A vault type was onboarded with the following parameters:

<details><summary>Initial Collateral Parameters</summary><br>

| Parameter | Rate |
| :-------: | :--: |
| Stability Fee | 3.5% |
| Liquidation Ratio | 155% |
| Maximum Debt Ceiling | 3MM DAI |
| Target Available Debt | 3MM DAI |
| Ceiling Increase Cooldown | 8 Hours |
| Debt Floor | 25.000 DAI |
    
</details><br>

<details><summary>Liquidation Parameters</summary><br>

| Parameter | Rate |
| :-------: | :--: |
| Auction Price Function | Stairstep Exponential Decrease |
| Price Change Multiplier | 0.99 |
| Price Change Interval | 90 Seconds |
| Auction Price Multiplier | 1.30 |
| Liquidation Penalty | 13% |

</details><br>

<details><summary>Limits</summary><br>

| Parameter | Rate |
| :-------: | :--: |
| Local Liquidation Limit | 3MM DAI |
| Maximum Auction Drawdown | 0.4 |
| Maximum Auction Duration | 140 Minutes |
| Breaker Price Tolerance | 0.5 |
    
</details><br>

<details><summary>Incentives</summary><br>

| Parameter | Rate |
| :-------: | :--: |
| Proportional Kick Incentive | 0.1% |
| Flat Kick Incentive | 300 DAI |
    
</details>

### ![](upload://lgLsfl8CkCLZeUyWyxVVRC9AvYM.png) Maker Improvement Proposals

Eleven ratification polls took place in March, all of which passed:

<details><summary>
    <b>Ratification Polls</b><br></br>
</summary>

| Ratification Poll |  Discussion |
|:-----------------:|:-----------:|
| [Declaration of Intent - Invest in Short-Term Bonds (MIP13c3-SP12)](https://vote.makerdao.com/polling/QmR6QMt6) | [Discussion](https://forum.makerdao.com/t/mip13c3-sp12-declaration-of-intent-invest-in-short-term-bonds/13084) |
| [Facilitators Offboarding (MDS-001) (MIP41c5-SP5)](https://vote.makerdao.com/polling/QmV3Lem7) | [Discussion](https://forum.makerdao.com/t/mip41c5-sp5-facilitator-offboarding/13005) |
| [GovAlpha Budget 2022-23 (MIP40c3-SP59)](https://vote.makerdao.com/polling/QmSBytmr) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp59-govalpha-budget-2022-23/13144) |
| [Modify Core Unit Budget - Real-World Finance (RWF-001) (MIP40c3-SP61)](https://vote.makerdao.com/polling/QmXDh7RR) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp61-modify-core-unit-budget-real-world-finance-rwf-001/13152) |
| [Modify GovAlpha Core Unit MKR Budget (MIP40c3-SP60)](https://vote.makerdao.com/polling/QmefuvKL) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp60-modify-govalpha-core-unit-mkr-budget/13145) |
| [Onboard-Amend Keeper Network - Gelato Network (MIP63c4-SP3)](https://vote.makerdao.com/polling/QmTnVxAL) | [Discussion](https://forum.makerdao.com/t/mip63c4-sp2-onboard-amend-keeper-network-keep3r-network/12748/1) |
| [Onboard-Amend Keeper Network - Keep3r Network (MIP63c4-SP2)](https://vote.makerdao.com/polling/QmaEfChz) | [Discussion](https://forum.makerdao.com/t/mip63c4-sp2-onboard-amend-keeper-network-keep3r-network/12748/1) |
| [Rapid Payment for Small Bug Bounties (MIP64, MIP40c3-SP42 Amendment) (MIP4c2-SP17)](https://vote.makerdao.com/polling/QmRdVByP) | [Discussion](https://forum.makerdao.com/t/mip4c3-sp1-rapid-payment-for-small-bug-bounties-mip64-mip40c3-sp42-amendment/12869) |
| [Recognized Delegate Compensation (MIP61)](https://vote.makerdao.com/polling/QmTvzCjL) | [Discussion](https://forum.makerdao.com/t/mip61-delegate-compensation/10640) |
| [MIP62 Amendments (MIP4c3-SP2)](https://vote.makerdao.com/polling/QmXZPYAu#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip4c3-sp2-mip62-amendments/13779SPF) |
| [ETHAmsterdam Event (MIP55c3-SP3)](https://vote.makerdao.com/polling/Qmb9brx3) | [Discussion](https://forum.makerdao.com/t/mip55c3-sp3-ethamsterdam-event-spf/13781) |

</details>

### ![](upload://t9fB1nI3AwgGeo55V0akiASrXDe.png) Parameter Management

View a [detailed breakdown](https://forum.makerdao.com/t/parameter-changes-proposal-ppg-omc-001-2022-02-24/13434) of last month's parameter changes proposal published by the [MOMC](https://forum.makerdao.com/t/parameter-proposal-group-makerdao-open-market-committee/7355).

![](upload://eAoVqiZv68ef8Gx43gX6wJUxruj.png)

<details><summary>
    <b>Maximum Debt Ceiling (line) Management</b><br></br>
</summary>

| Vault Type | Parameter | Change | Previous | New |
| :--------: | :-------: | :----: | :------: | :-: |
| WSTETH-A | [Maximum Debt Ceiling (`line`)](https://manual.makerdao.com/module-index/module-dciam#maximum-debt-ceiling-line) | +100MM DAI | 200M DAI | 300MM DAI |
| DIRECT-AAVEV2-DAI | [Maximum Debt Ceiling (`line`)](https://manual.makerdao.com/module-index/module-dciam#maximum-debt-ceiling-line) | +80MM DAI | 220MM DAI | 300MM DAI |
    
</details>

<details><summary>
    <b>Target Available Debt (gap) Management</b><br></br>
</summary>

| Vault Type | Parameter | Change | Previous | New |
| :--------: | :-------: | :----: | :------: | :-: |
| WSTETH-A | [Target Available Debt (`gap`)](https://manual.makerdao.com/module-index/module-dciam#target-available-debt-gap) | +10MM DAI | 20MM DAI | 20MM DAI |
| DIRECT-AAVEV2-DAI | [Target Available Debt (`gap`)](https://manual.makerdao.com/module-index/module-dciam#target-available-debt-gap) | +15MM DAI | 50MM DAI | 60MM DAI |

</details>

<details><summary>
    <b>Target Borrow Rate (bar) Management</b><br></br>
</summary>

| Vault Type | Parameter | Change | Previous | New |
| :--------: | :-------: | :----: | :------: | :-: |
| DIRECT-AAVEV2-DAI | [Target Borrow Rate (`bar`)](https://manual.makerdao.com/module-index/module-dai-direct-deposit#target-borrow-rate-bar) | -0.65% |  3.50% |  2.85% |

</details>

### ![](upload://8sc6jgB4lglfoxzqJZhVgouhkvn.png) Core Unit Budget Management

<details><summary>
    <b>Core Unit Budget Transfers</b><br></br>
</summary>

As per multiple successful budget proposals, a total of 397,184 Dai was transferred to multiple Core Units:

| Core Unit | Transfer Amount | Proposal |
| :-------: | --------------: | :------: |
| [Collateral Engineering Services Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP20) | 259,184 DAI | [Proposal](https://mips.makerdao.com/mips/details/MIP40c3SP57) |
| [Immunefi Security Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP24) | 138,000 DAI | [Proposal](https://mips.makerdao.com/mips/details/MIP40c3SP58) |
</details>

<details><summary><b>Core Unit Budget Streams</b><br></br></summary>

As per multiple successful budget proposals, a total of 397,184 Dai was streamed to multiple Core Units:

| Core Unit | Stream Amount | Proposal |
| :-------: | ------------: | :------: |
| [Collateral Engineering Services Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP20) | 2,780,562 DAI | [Proposal](https://mips.makerdao.com/mips/details/MIP40c3SP57) |
| [Risk Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP2) | 2,760,000 DAI | [Proposal](https://mips.makerdao.com/mips/details/MIP40c3SP56) |
| [Immunefi Security Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP24) | 207,000 DAI | [Proposal](https://mips.makerdao.com/mips/details/MIP40c3SP58) |

</details>

### ![](upload://uYzNuWW1aYqen40kV7NBEtGfGo6.png) Delegate Compensation

<details><summary><b>Recognized Delegate Compensation Payments: February 2022</b><br></br></summary>

As per two successful governance polls ([1](https://vote.makerdao.com/polling/QmPCbBu3?network=mainnet), [2](https://vote.makerdao.com/polling/QmbvuhYH?network=mainnet)) and the ongoing trial of delegate compensation, a total of **57,665 DAI** was distributed to eight Recognized Delegates:

| DAI Transferred | Delegate |
| :-------------: | :------: |
| 12,000 DAI | [FlipFlopFlap Delegate LLC](https://vote.makerdao.com/address/0xaf8aa6846539033eaf0c3ca4c9c7373e370e039b) |
| 12,000 DAI | [schuppi](https://vote.makerdao.com/address/0xb21e535fb349e4ef0520318acfe589e174b0126b) |
| 12,000 DAI | [Feedblack Loops LLC](https://vote.makerdao.com/address/0x845b36e1e4f41a361dd711bda8ea239bf191fe95) |
| 8,512 DAI | [MakerMan](https://vote.makerdao.com/address/0x22d5294a23d49294bf11d9db8beda36e104ad9b3) |
| 6,494 DAI | [ACREinvest](https://vote.makerdao.com/address/0x4d3ac33ab1dd7b0f352b8e590fe8b62c4c39ead5) |
| 5,072 DAI | [monetsupply](https://vote.makerdao.com/address/0x45127ec92b58c3a89e89f63553073adcaf2f1f5f) |
| 927 DAI | [JustinCase](https://vote.makerdao.com/address/0xcdb792c14391f7115ba77a7cd27f724fc9ea2091) |
| 660 DAI | [GFX Labs](https://vote.makerdao.com/address/0xf60d7a62c98f65480725255e831de531efe3fe14) |

Details on the breakdown of delegate compensation for February can be found on the MakerDAO forum [here](https://forum.makerdao.com/t/recognized-delegate-compensation-breakdown-february-2022/13518).

</details>

### ![](upload://f5whZ2EAZgzj3sPE22rtwO4HHAY.png) Community Greenlight Polls 

Greenlight Polls allow MKR token holders to signal their preferences for collateral types proposed through [Collateral Onboarding Applications.](https://forum.makerdao.com/c/MIPs/co/17) Community Greenlight polls occur at fixed times each governance cycle, starting on the 1st and 3rd Mondays of the month, and run for two full weeks.

**March did *not* have any Community Greenlight Polls.**

Check the progress of all proposed collateral types in the [Collateral Status Index.](https://forum.makerdao.com/t/collateral-status-index/2231)

## What's Ahead?

*Links to both the Votes and Public Calls calendars can be found below under Resources.*

![](upload://a8dR32mRgQ2tR61zB4zJWLqe7Hj.jpeg)

Here are some things to expect and look forward to in March.

##### Votes and Polls

There is currently one active signal request, ending April 5th, to [onboard PAXG as collateral for multi-collateral Dai](https://forum.makerdao.com/t/signal-request-onboard-paxg/13768). The Signal Request is successfully passing at the time of writing and can be expected to go on-chain later this month.

##### Pre-MIP Discussions

Take a look at the current pre-MIP discussions taking place on the forum:
-   [Anti-inflationary Proposal](https://forum.makerdao.com/t/anti-inflationary-proposal/13928)
-   [Auction-backed DAI](https://forum.makerdao.com/t/auction-backed-dai/13011/11)
-   [IAM for Surplus Buffer](https://forum.makerdao.com/t/premip-iam-for-surplus-buffer/11584)
-   [Proposal Ideas on the Forum](https://forum.makerdao.com/c/mips/proposal-ideas/21?order=activity)
-   [[Pre-MIP] Using Gyroscope to cut through Dai's Gordian knot: its USDC dependency](https://forum.makerdao.com/t/pre-mip-using-gyroscope-to-cut-through-dai-s-gordian-knot-its-usdc-dependency/8865)
-   [An RWA style solution to replace the PSM](https://forum.makerdao.com/t/an-rwa-style-solution-to-replace-the-psm/8705)

##### Delegation and Compensation

The Recognized Delegate compensation for March has just been [released](https://forum.makerdao.com/t/recognized-delegate-compensation-breakdown-march-2022/14427). Delegate Round-up for March should be released by GovAlpha very soon; keep an eye out for that report as well as their accompanying on-chain polls to fund qualified delegates.

##### Tokenomics

Discussion on Maker tokenomics continues into April. stkMKR, overall tokenomics revisions, and potentially new proposals are expected to see further discussion over several months. Keep an eye out for upcoming forum posts and public calls around this topic.

##### Core Unit Activity

The first quarter of 2022 has now ended, so some Core Units may be working on submitting their quarterly reviews and updates. These updates will be available on the forum and in the Monthly Core Unit Updates Report in a few weeks.

##### Forum Management

GovAlpha just [introduced the Forum Explorer](https://forum.makerdao.com/t/introducing-forum-explorer/14384) as an initiative to help improve user experience by making it easier to browse forum content through accessible filter mechanisms and configurable queries.

In addition, GovAlpha introduces [impact estimation tags](https://forum.makerdao.com/t/introducing-impact-estimations/14267) on the forum for active governance items such as MIPs and Signal Requests. The objective is to provide delegates, Core Unit members, and the wider Maker community with an idea of how important new governance items are and how much of their limited time they may want to spend investigating them.

### Resources

[Maker Operational Manual](https://forum.makerdao.com/t/announcing-maker-operational-manual/12553) 
*The GovAlpha Core Unit announces the launch of the Maker Operational Manual and invites all members and Core Units to reach out if they wish to provide any help or documentation.*

[Public Calls Calendar](https://calendar.google.com/calendar/embed?src=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com)
*Bookmark or subscribe to this calendar to be notified about upcoming Public Calls.*

[Votes and Important Dates Calendar](https://calendar.google.com/calendar/embed?src=bdf4un05hpg0611lg3ieue4t3c%40group.calendar.google.com)
*Bookmark or subscribe to this calendar for Votes, Polls, and important dates.*

[Forum](https://forum.makerdao.com/) and [Maker Chat](https://chat.makerdao.com/)
*Discuss and debate MakerDAO.*

[Participation Tools](https://community-development.makerdao.com/en/learn/governance/participate)
*Library of useful links for Stakeholders: Protocol analytics, Dai analytics, collateral & liquidation metrics, governance history, and auction data.*

[Governance Portal](https://makerdao.com/en/governance)
*Voting dashboard for MKR voters.*

[Learning Portal](https://www.makerdao.world/) | [Technical Documentation](https://docs.makerdao.com/) | [MIPs Portal](https://mips.makerdao.com/)
*Learn more about the Maker protocol.*

[MIP51: Monthly Governance Cycle](https://github.com/makerdao/mips/blob/master/MIP51/mip51.md) | [MIP16: Weekly Governance Cycle](https://github.com/makerdao/mips/blob/master/MIP16/mip16.md#mip16-the-weekly-governance-cycle)
*Learn more about the Governance activities that occur during the Monthly and Weekly Governance Cycles.*

### Disclaimer 

*Disclaimer: This update does not serve as financial advice or an inducement to vote in any specific way. This update is purely for information and communication purposes only.*

#### Feedback Survey

*We encourage you to complete our 3-question [feedback survey](https://survey.sogosurvey.com/r/DiUWgh).*

Credit: @nothsa, @Artem_Gordon