---
tags: Monthly Governance Review
---

# Monthly Governance Review | April 2022


##### A public PDF version of this post is available [here](https://pdfhost.io/v/Jg4vX9yL1_Monthly_Governance_Review_April). Show some love to our [Medium account](https://medium.com/@MkrGovComms) :heart:

## Governance Summary

### Votes and Polls

April contained five executive votes; one emergency executive went on-chain on April 13. The month also contained a total of thirteen ratification polls detailed below. Eleven of them passed except for [Ratification Poll for Modify Core Unit Budget, COM-001](https://vote.makerdao.com/polling/QmUntLXk) and [Ratification Poll for Pairwyse Licensure.](https://vote.makerdao.com/polling/QmdbNKMR)

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

### Financials and Budgets

Five Core Units had a successful transfer and/or stream of Dai; 1,057,918 Dai was transferred to PE, Events, GovComms, and SH Core Units. Additionally, 9,758,130 Dai was streamed to PE, Data, Events, and GovComms Core Units.

One ratification poll to modify GovComm's Core Unit Budget by onboarding a PR member **did not pass.**

### Delegation and Compensation

77,183 Dai was distributed to nine Recognized Delegates for April, as detailed below. Three of the nine delegates received the maximum amount of 12,000 Dai.

For additional information, check out [April's Recognized Delegate Compensation Breakdown.](https://forum.makerdao.com/t/recognized-delegate-compensation-breakdown-april-2022/14935)

### ETHAmsterdam Event SPF

Recently, MakerDAO hosted an event at the [ETHDenver conference called DAIvinity](https://twitter.com/DaIvinity). Due to its [overwhelming success](https://newsletter.banklesshq.com/p/8-things-you-missed-at-ethdenver-ab5) and response from the Maker Community, it was decided to host another event during ETHAmsterdam.

In parallel to this SPF, a Core Unit proposal has been put forth on the forum for feedback (see [MIP39c2-SP32](https://forum.makerdao.com/t/mip39c2-sp32-adding-events-core-unit-events-001/13780/14)). EVENTS-001 has been proposed based on discussion with the Maker community to provide a permanent budget and ongoing hosting of MakerDAO events.

Due to the time constraint imposed by MakerDAO’s governance cycle to get the funding in time before ETHAmsterdam happened, this SPF was created to partially fund the event. The remainder of the funds came from participating Core Units.

### Oracles

#### Whitelist Oasis.app on Multiple Oracles

Oasis.app, a third-party application for accessing the Maker Protocol and wider DeFi ecosystem, is planning to launch new automation features to allow for better management and protection of Maker Vaults going forward.

A MIP10c9-SP30 proposal was submitted at the beginning of April to whitelist ETHUSD, WSTETHUSD, BTCUSD, YFIUSD, UNIUSD, LINKUSD, and MANAUSD on Oasis.app.

In accordance with the Responsible Oracle Migration Proposal, fees were waived for the first year.

#### Replacing the Curve stETH/ETH Oracle

The CRVV1ETHSTETH-A oracle was frozen in the April 13th emergency executive at 22:25 UTC to mitigate a potential vulnerability successfully. During the previous week, existing vaults of the CRVV1ETHSTETH-A vault-type could not withdraw collateral unless they paid off their full debt; users were not at risk of liquidation during this time. This proposal was communicated and recommended for voting to delegates to prevent any adverse impact on MakerDAO.

Additional information available [here.](https://forum.makerdao.com/t/14th-april-emergency-executive/14642) A post-mortem will soon be available.

### Community Greenlight Polls

April contained two Greenlight Polls, which both passed:

**sETH2 (Stakewise Staked ETH)**

<details><summary>StakeWise, a derivative token that is 100% collateralized, is a liquid ETH2 staking platform that removes key barriers to entry.</summary><br>

ETH deposits into the staking pool are tokenized into sETH2, representing users’ interest-bearing (staked) capital. Staking rewards passively accrue in a separate token, rETH2. As a liquid staking platform, users are free to un-stake at any time by trading their sETH2 back into ETH, utilizing the protocol’s deep liquidity pools. sETH2 tokens (ERC-20) represent a tokenized staking deposit into StakeWise’s staking pool. sETH2 is consequently backed 1:1 with ETH held within validators. sETH2 acts like an interest-bearing form of wrapped ETH, providing holders with the right to a share of the staking pool rewards. These rewards are distributed in the form of rETH2.

Expected use case(s) of Dai generated by this Vault includes:
- Trading, such as shorting an asset or taking a leveraged long position on ETH.
- Leverage ETH staking yields (deposit sETH2 collateral, borrow Dai, buy ETH and stake, for example).

</details><br>

**HVBANK (Huntingdon Valley Bank Loan Syndication Collateral)**

<details><summary>Huntingdon Valley Bank is a State Chartered American commercial bank owned by the publicly-held holding company HV Bancorp. Inc. (NASDAQ Listed: HVBC).</summary><br>

</details>

### Governance Issues, Discussions, and Calls

Given the current market pressure and sentiment, the Maker community has been fighting to shine a light on longer-term visions toward growth, governance, and profitability. Below are the most popular discussions going on right now:
- GovComms Core Unit held a public [Issue Discussion Call](https://forum.makerdao.com/t/issue-discussion-call-6-collateral-onboarding/14751) featuring Robert, Core Unit facilitator of Collateral Engineering Services, illuminating on the new proposed Collateral Onboarding process and how it will improve transparency.
- Optimism recently introduced the [Optimism Collective](https://app.optimism.io/governance), a new type of community designed to reward public goods and build a sustainable future for Eth. Matt_NZ suggests we should study Optimism's new governance model to build a more democratic system and offer ideas for incentivizing positive contributions to the community.
- SebVentures [signal request](https://forum.makerdao.com/t/signal-request-deploy-the-balance-sheet-in-eth/14834) supports the [Aggressive Growth Strategy](https://forum.makerdao.com/t/aggressive-growth-strategy/13958) by proposing to allocate some of the balance sheets of MakerDAO to ETH and/or ETH derivatives.
- April did not escape the discussion on burning MKR. Andrew Burban [signals](https://forum.makerdao.com/t/signal-request-restart-the-burn-v2/14918) to begin immediately burning MKR at a reduced rate until we develop something better. However, ultraschuppi has also submitted a [signal request](https://forum.makerdao.com/t/signal-request-change-lid-parameter-on-the-rate-limiter/14688) to set the `lid` to 30,000 Dai, which will limit the maximum of MKR burnt a day from 7.2MM Dai to 1.44MM Dai.

*SES and Julian are researching challenges and opportunities for Maker regarding environmental, social and governance (ESG). They are currently asking the community's opinion to help identify topics with potential business relevance. Check out the survey [here.](https://docs.google.com/forms/d/e/1FAIpQLSc0MsZv8qFQfoJh5w15atJHfC-UknCNChoEP-jU5UfDXMVewQ/viewform?usp=sf_link) Check out their [summary](https://youtu.be/V5bliF28cbM?t=2726) on April 28th's Governance & Risk Call.*

---

*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.*

### ETHAmsterdam Event Special Purpose Fund DAI Distribution

As per this successful [Special Purpose Fund](https://mips.makerdao.com/mips/details/MIP55) (SPF) [application](https://mips.makerdao.com/mips/details/MIP55c3SP3), 50,000 DAI was transferred to the ETHAmsterdam SPF Event multi-sig wallet at the address [0xF34ac684BA2734039772f0C0d77bc2545e819212](https://etherscan.io/address/0xF34ac684BA2734039772f0C0d77bc2545e819212).

Further information about this wallet set-up can be found in this forum [post](https://forum.makerdao.com/t/mip55c3-sp3-ethamsterdam-event-spf/13781/74).

### [Copy Stub For Out-Of-Schedule Executive](https://vote.makerdao.com/executive/template-executive-vote-copy-stub-for-out-of-schedule-executive-april-14-2022#proposal-detail)

An oracle was frozen in an emergency executive to mitigate a potential vulnerability. View this [post](https://forum.makerdao.com/t/14th-april-emergency-executive/14642) for additional information.

### Fund Ambassadors Program Pilot

As per [this](https://vote.makerdao.com/polling/QmPpQ49p#poll-detail) successful governance poll, **25,000 DAI** was transferred to the Ambassadors Program [multi-sig wallet](https://gnosis-safe.io/app/eth:0xF411d823a48D18B32e608274Df16a9957fE33E45/balances).

For further information, please see the signal request thread [here](https://forum.makerdao.com/t/signal-request-fund-ambassadors-program-pilot/13199).

### Replace Gelato Keeper Top-Up Contract DAI Stream

As per [this](https://forum.makerdao.com/t/update-to-the-gelato-keeper-network-top-up-contract/14524) forum post, the [Protocol Engineering Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP7) have included a replacement for the Gelato Keeper stream in this executive proposal to resolve a bug related to token approvals.

- The existing stream was revoked, and previously streamed funds are used to fund keeper actions as planned.
- **1,000 DAI per day** is being streamed to the [new contract](https://etherscan.io/address/0x478c7Ce3e1df09130f8D65a23AD80e05b352af62) for 6 months.

### Oasis.app Whitelists

As per the outcome of this [governance poll](https://vote.makerdao.com/polling/QmZykRSM#poll-detail), [Oasis.app](https://oasis.app/) was whitelisted on the following OSM Oracles:

| Oracle |
| :----: |
| ETH/USD |
| WSTETH/USD |
| WBTC/USD |
| RENBTC/USD |
| YFI/USD |
| UNI/USD |
| LINK/USD |
| MANA/USD |

### Replacing the Curve stETH/ETH Oracle

Due to technical issues referenced [here](https://forum.makerdao.com/t/14th-april-emergency-executive/14642), the Curve stETH/ETH oracle was replaced and reactivated.

This action involved removing permissions on the previous oracle implementation, adding permissions on the new oracle implementation, and replicating the whitelist for this oracle on the new implementation.

This restored full functionality to the Curve stETH/ETH oracle and CRVV1ETHSTETH-A vaults.

### Collateral Management

#### TUSD Collateral Offloading

As per [this](https://vote.makerdao.com/polling/QmVkRdjg#poll-detail) successful governance poll, TUSD collateral in the Maker Protocol was liquidated under the following parameters. The communication and lead-time requirements for offboarding collateral defined in [MIP62](https://mips.makerdao.com/mips/details/MIP62) have been met.

<details><summary>TUSD Parameters under Liquidation:</summary><br>

| Parameter | Amount |
| :-------: | :----: |
| Liquidations | Enabled |
| Auction Price Function | Linear Decrease (tau: 250 days (estimated 10bps drop per 6 hours = 250 days till 0)) |
| Liquidation Penalty | 0% |
| Liquidation Ratio | 150% |
| Auction Price Multiplier | 1.00 |
| Local Liquidation Limit | 5MM DAI |
| Max Auction Duration | 5 days (implies minimum price of 0.98) |
| Proportional Kick Incentive | 0 DAI |
| Flat Kick Incentive | 0 DAI* |

*The Protocol Engineering Core Unit has reduced the Flat Kick Incentive to zero as detailed [here](https://forum.makerdao.com/t/tusd-offloading-flat-kick-incentive-change/14645).

For further information, please see the proposal forum thread [here](https://forum.makerdao.com/t/proposed-parameters-for-offboarding-tusd-a/13506).

</details>

### Maker Improvement Proposals

Thirteen ratification polls took place in April, Eleven of which have passed:

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

| Ratification Poll | Discussion |
|:-----------------:|:-----------:|
| [Amend MIP64 to allow more flexibility in scope (MIP4c3-SP3)](https://vote.makerdao.com/polling/Qmad6Lo8#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip4c3sp3-amend-mip64-to-allow-more-flexibility-in-scope/14200) |
| [Update Data Insights Core Unit Mandate (MIP39c2-SP31)](https://vote.makerdao.com/polling/QmXEvrBB#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip39c2-sp31-update-data-insights-core-unit-mandate/13790) |
| [Methodology and Review Process for Structured Finance Transactions (MIP67)](https://vote.makerdao.com/polling/QmWt5fov#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip67-methodology-and-review-process-for-structured-finance-transactions/13737) |
| [Adding Events Core Unit (EVENTS-001)](https://vote.makerdao.com/polling/QmSVzGcm#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip39c2-sp32-adding-events-core-unit-events-001/13780) |
| [Modify the Collateral Application Form (MIP6c3-SP2)](https://vote.makerdao.com/polling/QmTGxRjL) | [Discussion](https://forum.makerdao.com/t/mip6c3-sp2-modify-the-collateral-application-form/13787) |
| [Adding CES-001 as a Collateral Onboarding Domain Team](https://vote.makerdao.com/polling/QmVAD1ZD#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip4c2-sp-mip7-amendments/13788) |
| [Modify Core Unit Budget, COM-001 (MIP40c3-SP62)](https://vote.makerdao.com/polling/QmWQBUi6) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp62-modify-core-unit-budget-com-001/13724/1) |
| [Add Data Insights Core Unit Budget (MIP40c3-SP64)](https://vote.makerdao.com/polling/Qme3VaY4#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp64-add-data-insights-core-unit-budget/13791) |
| [Modify Protocol Engineering Core Unit Budget, PE-001 (MIP40c3-SP68)](https://vote.makerdao.com/polling/QmWphKJY#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp68-modify-protocol-engineering-core-unit-budget-pe-001/13797) |
| [Dissolution of Content Production, MKT-001, Multi-Sig Request (MIP47c3-SP1)](https://vote.makerdao.com/polling/QmXhSC8x#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip47c3-sp1-dissolution-of-content-production-mkt-001-multi-sig-request/13991) |
| [Governance Communications Core Unit, COM-001, Mandate Refresh (MIP39c2-SP30)](https://vote.makerdao.com/polling/QmWCUEaV#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip39c2-sp30-governance-communications-core-unit-com-001-mandate-refresh/13197) |

</details>

### Parameter Management

View a [detailed breakdown](https://forum.makerdao.com/t/parameter-changes-proposal-ppg-omc-001-31-march-2022/14347) of last month's parameter changes proposal published by the [MOMC](https://forum.makerdao.com/t/parameter-proposal-group-makerdao-open-market-committee/7355).


<details><summary>
<b>Stability Fee</b><br></br>
</summary>

| Vault Type | Parameter | Change | Previous | New |
| :--------: | :-------: | :----: | :------: | :-: |
| WSTETH-A | [Stability Fee](https://manual.makerdao.com/parameter-index/vault-risk/param-stability-fee) | -0.25% | 2.50% | 2.25% |
| CRVV1ETHSTETH-A | [Stability Fee](https://manual.makerdao.com/parameter-index/vault-risk/param-stability-fee) | -1.25% | 3.5% | 2.25% |
| WBTC-A | [Stability Fee](https://manual.makerdao.com/parameter-index/vault-risk/param-stability-fee) | -0.50% | 3.75% | 3.25% |
| WBTC-B | [Stability Fee](https://manual.makerdao.com/parameter-index/vault-risk/param-stability-fee) | -0.5% | 5.0% | 4.5% |
| GUNIV3DAIUSDC1-A | [Stability Fee](https://manual.makerdao.com/parameter-index/vault-risk/param-stability-fee) | -0.1% | 0.1% | 0.0% |
| GUNIV3DAIUSDC2-A | [Stability Fee](https://manual.makerdao.com/parameter-index/vault-risk/param-stability-fee) | -0.20% | 0.25% | 0.05% |

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

| Vault Type | Parameter | Change | Previous | New |
| :--------: | :-------: | :----: | :------: | :-: |
| GUNIV3DAIUSDC1-A | [Maximum Debt Ceiling (`line`)](https://manual.makerdao.com/module-index/module-dciam#maximum-debt-ceiling-line) | +650MM DAI | 100MM DAI | 750MM DAI |
| GUNIV3DAIUSDC2-A | [Maximum Debt Ceiling (`line`)](https://manual.makerdao.com/module-index/module-dciam#maximum-debt-ceiling-line) | +250MM DAI | 750MM DAI | 1B DAI |
| CRVV1ETHSTETH-A | [Maximum Debt Ceiling (`line`)](https://manual.makerdao.com/module-index/module-dciam#maximum-debt-ceiling-line) | +2MM DAI | 3MM DAI | 5MM DAI |

Note on CRVV1ETHSTETH-A:

As a result of this [post](https://forum.makerdao.com/t/immediate-short-term-parameter-changes-proposal-for-crvv1ethsteth-a-dc-and-gap-increase/14476) from the [Risk Core Unit (RISK-001)](https://mips.makerdao.com/mips/details/MIP39c2SP2), the CRVV1ETHSTETH-A Maximum Debt Ceiling is now 5MM Dai. Please note that the Maximum Debt Ceiling for this vault type was already approved by an on-chain [poll](https://vote.makerdao.com/polling/Qmek9vzo).

</details>
</details>

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

| Vault Type | Parameter | Change | Previous | New |
| :--------: | :-------: | :----: | :------: | :-: |
| GUNIV3DAIUSDC1-A | [Target Available Debt (`gap`)](https://manual.makerdao.com/module-index/module-dciam#target-available-debt-gap) | +40MM DAI | 10MM DAI | 50MM DAI |

</details>

<details><summary>
<b>Target Borrow Rate (bar) Management</b><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% | 2.85% | 3.50% |

</details>

### Core Unit Budget Management

As per the ratified [GRO-001 DAI Budget](https://mips.makerdao.com/mips/details/MIP40c3SP37#budget-implementation), **474,683 DAI** was transferred to the [Growth Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP4) [multi-sig wallet](https://gnosis-safe.io/app/eth:0x7800C137A645c07132886539217ce192b9F0528e). This is the second of two lump-sum transfers specified in the budget proposal.

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

As per multiple successful budget proposals, a total of 1,057,918 Dai was transferred to multiple Core Units:

| Core Unit | Transfer Amount | Proposal |
| :-------: | --------------: | :------: |
| [Protocol Engineering](https://mips.makerdao.com/mips/details/MIP39c2SP7) | 800,000 DAI | [Proposal](https://vote.makerdao.com/polling/QmWphKJY#poll-detail) |
| [Events](https://mips.makerdao.com/mips/details/MIP39c2SP32) | 149,692 DAI | [Proposal](https://vote.makerdao.com/polling/QmSVzGcm#poll-detail) |
| [Governance Communications](https://mips.makerdao.com/mips/details/MIP39c2SP30) | 73,226 DAI | [Proposal](https://vote.makerdao.com/polling/QmWQBUi6#poll-detail) |
| [Strategic Happiness](https://mips.makerdao.com/mips/details/MIP39c2SP11) | 35,000 DAI | [Proposal](https://vote.makerdao.com/polling/QmVdxBE5#poll-detail) |

</details>

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

As per multiple successful budget proposals, a total of 9,758,130 Dai was streamed to multiple Core Units:

| Core Unit | Stream Amount | Proposal |
| :-------: | ------------: | :------: |
| [Protocol Engineering](https://mips.makerdao.com/mips/details/MIP39c2SP7) | 7,590,000 DAI | [Proposal](https://vote.makerdao.com/polling/QmWphKJY#poll-detail) |
| [Data Insights](https://mips.makerdao.com/mips/details/MIP39c2SP31) | 1,083,000 DAI | [Proposal](https://vote.makerdao.com/polling/Qme3VaY4#poll-detail) |
| [Events](https://mips.makerdao.com/mips/details/MIP39c2SP32) | 748,458 DAI | [Proposal](https://vote.makerdao.com/polling/QmSVzGcm#poll-detail) |
| [Governance Communications](https://mips.makerdao.com/mips/details/MIP39c2SP30) | 336,672 DAI | [Proposal](https://vote.makerdao.com/polling/QmWQBUi6#poll-detail) |

**DssVest and ESM Interaction:**

*This section clarifies the need for the above vesting streams on a new DssVest contract*.

*The DssVest DAI contract was updated to prevent `vat.suck` calls from being possible in the event of an emergency shutdown. This included checking to ensure that `vat.suck` only works when the system is live for all new vest contracts. For existing contracts, the ESM was relied on to allow keepers to remove pause proxy permissions if governance becomes malicious after shutdown. Note that this is relevant only after a shutdown occurs. All vest functionality remains the same as per the original contract. All existing streams remain the same, but new streams are from a new contract.*

</details>

### Delegate Compensation

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

A total of **77,183 DAI** was distributed to nine 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) |
| 10,761 DAI | [MakerMan](https://vote.makerdao.com/address/0x22d5294a23d49294bf11d9db8beda36e104ad9b3) |
| 9,295 DAI | [ACREinvest](https://vote.makerdao.com/address/0x4d3ac33ab1dd7b0f352b8e590fe8b62c4c39ead5) |
| 7,598 DAI | [monetsupply](https://vote.makerdao.com/address/0x45127ec92b58c3a89e89f63553073adcaf2f1f5f) |
| 6,640 DAI | [JustinCase](https://vote.makerdao.com/address/0xcdb792c14391f7115ba77a7cd27f724fc9ea2091) |
| 6,606 DAI | [GFX Labs](https://vote.makerdao.com/address/0xf60d7a62c98f65480725255e831de531efe3fe14) |
| 283 DAI | [Doo](https://vote.makerdao.com/address/0x8804d391472126da56b9a560aef6c6d5aaa7607b#delegate-credentials) |

Details on the breakdown of delegate compensation for April can be found on the MakerDAO forum [here](https://forum.makerdao.com/t/recognized-delegate-compensation-breakdown-april-2022/14935).

</details>

### 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.

| Asset | Start Date | End Date | Vote Results |
| :---: | :--------: | :------: | :----------: |
| [HVBANK](https://vote.makerdao.com/polling/QmUVKBfr) | April 18 | May 2 |  |
| [sETH2](https://vote.makerdao.com/polling/QmV7zcMW) | April 18 | May 2 |  |

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.


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

### Votes and Polls

There are currently two Community Greenlight Polls active until May 16:
- [ATDC (ATD Combustors)](https://vote.makerdao.com/polling/QmRH6Bf6#poll-detail)
- [IPCL (India Power Green Bonds)](https://vote.makerdao.com/polling/QmUQ7VDA)

### 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 1](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)

### Parameter Changes Proposal

The MakerDAO Open Market Committee submitted their proposed parameter changes for May 2022, which is currently [on-chain](https://vote.makerdao.com/polling/QmTmehbz#poll-detail) and ends May 5, 2022.


Proposed changes:
- Lower the WBTC-A Stability Fee from 3.25% to 2.25%.
- Lower the WBTC-B Stability Fee from 4.5% to 4.0%.

### Fund Retrieval Exclusion

MKR voters recently passed [this proposal](https://vote.makerdao.com/polling/QmXhSC8x#poll-detail) for the dissolution of the Content Production Multi-Sig (you can view the thread [here 3](https://forum.makerdao.com/t/mip47c3-sp1-dissolution-of-content-production-mkt-001-multi-sig-request/13991). One of the items within the proposal was the retrieval of nearly 3,800 Dai which the multisig can still claim from the Surplus Buffer. **However, retrieving the Dai will not be included in an executive spell due to the technical and ETH cost of doing so.**

### Gasless Voting

The Design and UX Core Unit has [made progress](https://forum.makerdao.com/t/dux-monthly-update-april-2022/14962) on an implementation for gasless poll voting and presented remaining design decisions to GovAlpha. They are currently iterating and are moving towards a final design, upon which they initiate development.

## Resources

<details><summary>Click here to open an updated list of resources and links:</summary><br>

[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.*

</details>

## 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: @Artem_Gordon