Formal Governance

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Thank you all for joining the formal governance meeting. We have 19 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:

OneUp Jan Invoice (approved)

• $15,000 USD in ETH
• https://forum.makerdao.com/t/oneup-invoice-for-january-2017/774
• USD $15,000 (1294.22 ETH at $11.59) for work completed in January

Dev Update:

Maker Core (DRI: nikolai):

• Implemented dapp (dh), a dapple successor with cleaner build/package management
• Made maker-core work with its dappsys dependencies using the actual package infrastructure
  • It works
• Design improvement: vat now tracks liquidation state “during” liquidation, meaning grab is split into grab (begin liquidation for CDP) and plop (resolve liquidation for specific CDP with obtained dai and possibly leftover collateral). The engine processes the refund. This change, like the last engine/settler api change, significantly simplifies specifying a “valid” vow in terms of quasi-contractual terms, which in turn makes designing settler contracts (like a semi-manual one) much simpler
• Finished new version of target price feedback mechanism
• Deployed first test version of vat component to Ropsten

Maker Market (Oasis) (DRI: Run via 3rd party):

• Few maintenance issues needed to be taken care of before re-deploy
• Coordinate relaunch of market

Maker Model (DRI: Jake - mbrock - haskell work):

• No update

Simple Stable Coin (DRI: zandy + OneUp):

• OneUp to work on feed instances
• Deployed feed aggregator to Ropsten

MKR Sale update (DRI: rune + zandy):

• Rune sold 1050 MKR for 2624 ETH
• No sales by zandy

Video (DRI: kenny):

• Animation work

Foundation:

• Moving forward with MME
• Retainer posted
• Zug based
• 2 - 3 month set up

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

Simple Coin [high priority]

February Guidance Budget

Name	USD Equivalent
DappHub*	45,000
OneUp	15,000
OnChain	5,000
Total	65,000

• Formerly Nexus development

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