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# System prepended metadata

title: 'MIP55c3-SP15: Phoenix Labs Initial Funding (SPF)'
tags: [Summaries]

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---
tags: Summaries
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# MIP55c3-SP15: Phoenix Labs Initial Funding (SPF)

- This is a valid subproposal to add a SPF, as defined in [MIP55: Special Purpose Fund](https://mips.makerdao.com/mips/details/MIP55).
- The SPF aims to fund legal and incoporation expenses for Phoenix Labs, a R&D company that intends to become a Ecosystem Actor in the Endgame.
- Phoenix Labs is simultaneously proposing [MIP55c3-SP16: Phoenix Labs-Spark Lend launch (SPF)](https://forum.makerdao.com/t/mip55c3-sp16-phoenix-labs-spark-lend-launch/19734) and [MIP116: D3M to Lend Spark](https://forum.makerdao.com/t/mip116-d3m-to-spark-lend/19732).
- Lend Spark is a lending market with a front end that will integrate Maker’s D3M and the PSM).
- This proposals asks for 50,000 DAI. As per [MIP55c3](https://mips.makerdao.com/mips/details/MIP55#MIP55c3), it is eligible to enter the *Weekly* Governance Cycle after having fulfilled its two-week Feedback Period (from Monday 27<sup>th</sup> onwards) and its one-week Frozen Period.
- If this subproposal is ratified, 50,000 DAI will be transferred to the specified [MIP47-compliant](https://mips.makerdao.com/mips/details/MIP47) multisig wallet through the earliest executive vote.
- This proposal has been assigned `Medium-Impact` based on the methodology listed [here](https://forum.makerdao.com/t/introducing-impact-estimations/14267).
