The MakerDAThe MakerDAO team was voted out by a slim margin. 49% of the MakerDAO members voted to let a team, in charge of content production, go. 47% gave the opposite vote.
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MakerDAO is the oldest protocol in the decentralized finance space, and arguably one of its most effective protocols. It still has growing pains with a market cap of $1.6B though!
The team in charge of the content production for one of MakerDAO’s protocol units, MKT-001, was voted out by a slim margin. Slightly more than 49% of the MakerDAO members voted to let a team, in charge of content production, go. 47% gave the opposite vote.
Votes happen by using MKR tokens which are linked to ETH or can be delegated with voting power from other community members.
The MakerDAO vote was the closest of 16 polls that closed on Jan. 24th. It was the first time for governance to vote for involuntary removal of one of its core units from the DAO ever since it had been established.
Making use of Core Units within the DAO is relatively new, and the offboarding of one is completely untested. The Maker protocol’s governance ratified a framework for their establishment in March.
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The current process’ abruptness has led many DAO members to ask for changes.
“There should be some way to signal disagreement by the community with the facilitators’ actions before getting to the offboarding,” said Justin Case, a delegate for Maker voters, on a recent Governance and Risk call for the protocol.
Seth Goldfarb, a MKT-001 member, pointed out when he posted on the Maker forum that the DAO supported his Core Unit’s most recent budget.
One of the delegates for MKR votes, Tim Black, emphasized the pitfalls of a long process for involuntary offboarding.It’s important that we strike a balance here because there are cases where we do want offboarding to be relatively swift if there are bad actors or malicious intent or things that adversely affect the DAO,” he said.
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PaperImperium has surfaced a proposal that would modify the offboarding process. The proposal would need to be approved by governance, and about 12 people are working on it.
Despite their involvement in this project, PaperImperium has shared their thoughts about what’s wrong with leaving your job at DAO Core Unit (the company). Because no one has ever been let go before, no one is really sure how to handle it yet.
“No one is good at anything the first time they do it”—think of when you drove for the first time—so these peculiarities aren’t surprising either!
One of the primary authors of the new proposal is GFX Labs, which provides governance consulting services. The outfit provided a .01% fee tier to Uniswap, which allowed it to gain market share of stablecoin trading volume. Maker’s Core Unit content product was not offboarded by GFX Labs, according to Outputting
to their voting history. As of July, Maker had dissolved their foundation, a centralized company, meaning that the ship has only been manned by Core Units for six months. Those who are aiming to decentralize may follow Maker’s lead by figuring out how to preemptively develop their own offboarding process and not just post things, but rather discuss them before voting, rather than just having one forum thread before voting.
Via this site.
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