Formal Governance

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Thank you all for joining the formal governance meeting. We have 13 participants on the call today.

This part of the meeting will be recorded and is meant to simulates on-chain proposals. Proposals need to be clearly stated, debated, and generally agreed to prior to the meeting. Once a proposal has gone through these three checks it can be brought up in the formal governance meeting for finalization. Proposals should be posted to forum.makerdao.com and can also be discussed in #proposal-discuss on Rocket Chat

Upon conclusion of the formal portion of the meeting, further topics will be discussed and debated.

Voting Proposals:

$5,000 USD in MKR to OnChain (approved)

• https://forum.makerdao.com/t/onchain-consulting-invoice-for-december-2016/750
• MKR = .915 ETH - $10.09 USD = 1 ETH ($9.23 USD per MKR)

$27,500 USD Reimbursement for OneUp invoice paid in MKR to Rune (approved)

• https://forum.makerdao.com/t/reimbursement-for-oneup-invoice-paid-for-august-and-september/751

Increase OneUp development budget to 15K USD for 1.5 FTE (approved)

• https://forum.makerdao.com/t/increase-oneup-development-budget-to-15k-usd-for-1-5-fte/753

On Record None Voting Proposals:

January Proposed Budget

Name	USD Equivalent
Nexus	30,000
OneUp	15,000
GGT	5,000
Total	50,000

Deal with PolyChain

• Present a deal to the community

Dev Update:

Maker Core

• Whitepaper iteration (wiki-style “yellow paper”)
• Daniel in Miami!
• Engine rewrite by Daniel

Maker Market

• Updated UX designs posted to chat
• Basic testing
• Getting close to V2 release

Token Auction / Weekly MKR Auction (UI)

• No update
• Need to allocate dev resources
• James has been working on Python trading bots

Simple Stable Coin

• OneUp will be working on this soon
• Feature complete
• Close to release

MKR Sale update

• 6019 ETH for 6300 MKR

Video

• Confirmed script for video 3
• Storyboard for video 2 finalized

General Topics:

Topics discussed here are not binding and should not be taken out of context of an open discussion. More is said during the general topics than what can be faithfully transcribed into written text

Proposal Guidelines

• https://forum.makerdao.com/t/maker-proposal-guidelines-to-be-posted-in-the-proposal-category/742

Dev resource allocation

• Feedbase, whitelist, simple coin, CDP
• https://forum.makerdao.com/t/maker-dev-strategy-meeting-notes/752
• Maker Model
  • Jake from Coinfund would like to contribute

Process of adding tokens to maker market

• Submit an issue on github
• Maker Market is opensource

December Budget

Name	USD Equivalent
Nexus	20,000
OneUp	10,000 *
GGT	5,000
Total	35,000

**Reduced staffing during holiday season

• OneUp expects lower staffing availability in December. The proposed budget is an estimate and a final invoice will be issued for work completed in December. Invoice not to exceed $10,000. Edit: Final invoice was USD 8,633

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