---
tags: WMsU
---

# Weekly MIPs Update #88 - May 23, 2022


## May's Ratification Polls are now closed :closed_lock_with_key: :ballot_box_with_ballot:

The five [Ratification Polls](https://mips.makerdao.com/mips/details/MIP51#MIP51c2) that entered May's Governance Cycle closed today at 16:00 UTC. These are the results:

| Proposal | Impact Estimation | Vote Breakdown |
|:-|:-:|:-:|
| :heavy_check_mark: **MIP65: Monetalis Clydesdale: Liquid Bond Strategy & Execution**<br/>_{[Forum](https://forum.makerdao.com/t/mip65-project-clydesdale-monetalis-arrangement-i-liquid-bond-strategy-execution/13148) \| [MIPs Portal](https://mips.makerdao.com/mips/details/MIP65)}<br/><br/><details>_"MIP65 will onboard and activate a RWA vault for the purpose of acquiring USDC via PSM and investing them in high quality liquid bond strategies held by a trust arranged and maintained by Monetalis."_</details>| 🔴 High | _{[Go to Voting Portal](https://vote.makerdao.com/polling/QmXHM6us#vote-breakdown)} |
| :x: **MIP68: Monetalis Lusitano: UK Green Economy SME Wholesale Lending**<br/>_{[Forum](https://forum.makerdao.com/t/mip68-monetalis-lusitano-uk-green-economy-sme-wholesale-lending/13789) \| [MIPs Portal](https://mips.makerdao.com/mips/details/MIP68)}<br/><br/><details>_"MIP68 is a self-contained collateral onboarding MIP that will onboard and activate a RWA vault backed by the assets of a trust arranged by Monetalis."_</details>| 🔴 High | _{[Go to Voting Portal](https://vote.makerdao.com/polling/QmS7UyQT#vote-breakdown)} |
| :heavy_check_mark: **MIP69: L2-to-L1 Fast Withdrawals**<br/>_{[Forum](https://forum.makerdao.com/t/mip69-l2-to-l1-fast-withdrawals/14041) \| [MIPs Portal](https://mips.makerdao.com/mips/details/MIP69)}<br/><br/><details>_"This MIP formalises technical work completed to deliver Fast Withdrawals on Layer2."_</details>| 🔴 High| _{[Go to Voting Portal](https://vote.makerdao.com/polling/QmWZvSpa#vote-breakdown)} |
| :heavy_check_mark: **MIP4c2-SP19: MIP40 Budget Process Amendment**<br/>_{[Forum](https://forum.makerdao.com/t/mip4c2-sp19-mip40-budget-process-amendment/14250) \| [MIPs Portal](https://mips.makerdao.com/mips/details/MIP4c2SP19)}<br/><br/><details>_"For the DAO to grow long-term, it is critical that MKR holders be able to evaluate and compare Budget Proposals with minimum cognitive overhead. Within this revised MIP, Core Units and proposed Core Units are required to submit standardized, transparent, and clear financial information. Budget Proposals must clearly serve a revenue-driving or supporting business purpose in line with the Objectives of the DAO."_</details>|🟡 Medium |_{[Go to Voting Portal](https://vote.makerdao.com/polling/QmXVjbWG#vote-breakdown)} |
| :heavy_check_mark: **MIP40c3-SP67: Modify Core Unit Budget - Strategic Happiness (SH-001)**<br/>_{[Forum](https://forum.makerdao.com/t/mip40c3-sp67-modify-core-unit-budget-strategic-happiness-sh-001/13805) \| [MIPs Portal](https://mips.makerdao.com/mips/details/MIP40c3SP67)}<br/><br/><details>_"MIP40c3-SP67 updates the budget to expand the Strategic Happiness Core Unit, SH-001. It proposes an updated budget breakdown for DAI and MKR. In total, 770,000 DAI is requested (230,000 DAI up-front). Additionally, a 250 MKR vest is requested, streamed over 4 years with an 18-month cliff. A pro-rated offboarding term is also proposed for 2 months of funding if, after funding this Core Unit until March 15, 2023, the community decides not to renew a further budget."_</details>| 🔴 High| _{[Go to Voting Portal](https://vote.makerdao.com/polling/QmQkxx16#vote-breakdown)} |

The new Core Unit Budget process was approved. This means that from now on budget proposals must:

- Use the new [MIP40c3 subproposal template](https://github.com/makerdao/mips/blob/master/MIP40/MIP40c3-Subproposal-Template.md)
- Be submitted during a Budget Submission Window (March, June, September, November).
- [Et cetera](https://mips.makerdao.com/mips/details/MIP40#MIP40c2).

## Proposals in RFC :pencil:

> _{:calendar: --- RFC and FS Dates for reference and for existing proposals can be seen [on this **proposal tracker**](https://docs.google.com/spreadsheets/d/1OHZa-f4C2Z8PteZBb1Mfiz-MJn5Ky_PM15mM1QLgIRY/).}
> _{If you have any questions about the voting process at MakerDAO, the [Practical Guide to Voting](https://manual.makerdao.com/governance/voting-in-makerdao/practical-guide-voting) will be useful.}

One new monthly-cycle proposal entered last week, which leaves us with nine active proposals in RFC.

| Proposal | Author | Eligible for Submission |
|:-:|:-:|:-:|
| [MIP4c2-SP15: Core Unit Offboarding Process Amendments](https://forum.makerdao.com/t/new-mip4c2-sp15-core-unit-offboarding-process-amendments/15291)<br/><br/><details>_" The original motivation for this amendment was to simplify and to clarify the Core Unit offboarding process. Recent examples (see MKT-001 offboarding: [1](https://forum.makerdao.com/t/mip40c3-sp49-modify-core-unit-budget-mkt-001/12059/12), [2](https://forum.makerdao.com/t/mip41c5-sp3-facilitator-offboarding-mkt-001/12058/11), [3](https://forum.makerdao.com/t/content-production-core-unit-offboarding-post-mortem/13756)) have demonstrated several gaps in this process. Ratifying simple changes started small and, along the way, the ambitions grew into revisions for much of the Core Unit MIP Set. Thanks to generous contributions from GovAlpha we now have a cohesive MIP Set. The aim is to reduce harm to the DAO and community in the event of Core Unit disruptions. These changes are an attempt to make processes more transparent and orderly. In addition, edits to MIP38, MIP39, and MIP41 fill in process gaps, or streamline them, with additional documentation and/or templates. This comprehensive set of changes should inspire substantive discussion surrounding an offboarding proposal prior to a vote. It will also make tracking and editing Core Unit MIPs simpler."_</details>| @gfxlabs / @twblack88 just posted significant modifications | June |
|[MIP72: Delegated Collateral Attachment - RWA Arranger Application - 6s Capital](https://forum.makerdao.com/t/mip72-delegated-collateral-attachment-rwa-arranger-application-6s-capital/14482)<br/><br/><details>_"MIP72 authorizes 6s Capital as a Real World Asset Arranger for MakerDAO to cause commerce by assembling commercial senior-secured transactions based on the authorization #001 outlined herein."_</details> | @mrabino1 | June |
|[MIP4c2-SP20: MIP16 Amendments](https://forum.makerdao.com/t/mip4c2-sp20-mip16-amendments/14980)<br/><br/><details>_"MIP4c2-SP20 amends [MIP16](https://mips.makerdao.com/mips/details/MIP16) to reflect the changes to the weekly Executive Vote cadence proposed by the Protocol Engineering Core Unit [here](https://forum.makerdao.com/t/governance-cadence-improvement/14972)."_</details> | @Patrick_J |June |
|[MIP41c4-SP34: Immunefi Security Core Unit Facilitator Onboarding - IS-001](https://forum.makerdao.com/t/mip41c4-sp34-immunefi-security-core-unit-facilitator-onboarding-is-001/14610)<br/><br/><details>_"Add @psychonaut (Jpritikin Industries, Inc) as a co-Facilitator for Core Unit IS-001: Immunefi Security."_</details> | @psychonaut |June |
|[MIP41c4-SP35: Facilitator Onboarding (DIN-001)](https://forum.makerdao.com/t/mip41c4-sp35-facilitator-onboarding-din-001/14948)<br/><br/><details>_"This subproposal adds @tadeo as the Facilitator for the Data Insights Core Unit."_</details> | @tadeo |June |
|[MIP41c5-SP6: Facilitator Offboarding (DIN-001)](https://forum.makerdao.com/t/mip41c5-sp6-facilitator-offboarding-din-001/14946)<br/>_{Note that this is a voluntary offboarding and will not be voted on.}<br/><br/><details>_"This subproposal is to offboard the current Facilitator of the Data Insights Core Unit (DIN-001)."_</details> | @tmierzwa |June |
|[MIP55c3-SP4: Adding a Special Purpose Fund - Makershire Hathaway](https://forum.makerdao.com/t/mip55c3-sp4-adding-a-special-purpose-fund-makershire-hathaway/14643)<br/><br/><details>_"The Makershire Hathaway Special Purpose Fund will be a 10M pool managed by Strategic Finance CU under the supervision of Risk CU and prospective Lending Oversight CU to experiment with various yield generation strategies and support DAI liquidity/utility."_</details> | @aes |June |
|[MIP4c2-SP21: Add Retrospection Process to prune unused MIPs](https://forum.makerdao.com/t/mip4c2-sp21-add-retrospection-process-to-prune-unused-mips/15142)<br/><br/><details>_"Bureaucracy tends to grow without active pruning. The goal of the Retrospection Process is to surface a process to help prune unused or low-utility MIPs. This process also helps introduce and familiarize the broader community with MIPs that continue to be used."_</details> | @psychonaut |July |
|[MIP41c4-SP37: Governance Facilitator Onboarding (GOV-001)](https://forum.makerdao.com/t/mip41c4-sp37-governance-facilitator-onboarding-gov-001/15284)<br/><br/><details>_"This subproposal onboards @Patrick_J as a Facilitator for the GovAlpha (GOV-001) Core Unit."_</details> | @Patrick_J |July |

We also have two new proposals from Oracles: [MIP10c7-SP1: Modify Data Models for BTC/USD, LINK/USD, MANA/USD, USDT/USD, YFI/USD Data Model](https://forum.makerdao.com/t/mip41c4-sp28-facilitator-onboarding-strategic-finance-sf-001/11939) and [MIP10c19-SP1: Update Oracle Expiration Time for All Oracles](https://forum.makerdao.com/t/mip10c19-sp1-update-oracle-expiration-time-for-all-oracles/15236).

MIP10 processes are somewhat eccentric. These two subproposals have Feedback and Frozen Periods of zero days. While they could have gone on-chain today, we consulted with @Nik from Oracles and decided to wait for one week, until Monday, May 30, before going on-chain. These proposals will go up as Short (three-day) Ratification Polls. Please give them a read if you have time :slightly_smiling_face:

## Things to Come :crystal_ball:

- Last day of modifications for Proposals entering June's Governance Cycle is Wednesday June 1st.
- June's Formal Submission Window opens on June 6.
- Proposals that would like to enter July's Governance Cycle, should be posted by June 8.

---

## oh btw

For anything MIP-related: reach out to @gala, @sebix, or @blimpa!

## Pre-MIP Discussions

* [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)