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tags: Summaries
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# MIP85: LDO to MKR OTC Swap

This is a summary of the MIP and its effects upon ratification from GovAlpha's perspective:

- GovAlpha has determined that this is a valid MIP.
- This proposal establishes an Over-The-Counter deal between MakerDAO and Calteram Holdings to swap MKR from the Pause Proxy for LDO, to be executed in two transfers.
- The exchange rate for this OTC swap will use [Coingecko's](https://www.coingecko.com/) official exchange rate of LDO per MKR as reference at the moment of the passing of this MIP, plus a bonus based on the table for leveraging discounts found at MIP85c5.
- This proposal is not contingent on the EndGame Plan. It was introduced by the author as an 'optional' MIP.
- This proposal has been assigned `High-Impact` based on the methodology listed [here](https://forum.makerdao.com/t/introducing-impact-estimations/14267).

***Disclaimer: These summaries are intended to be a guide and not a source of truth. You remain responsible for any actions you take on the grounds of this information. Please note the date when the summary was last updated to judge accuracy.***