Tougher Governance For MakerDAO? MakerDAO Members Vote To Let Content Production Team Go

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makerdao content team vote

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.

 MakerDAO: The Rise of a Decentralized Financial Tool

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.

MakerDAO Governance Update: What’s Happening In The Maker Community?

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. 

Not SurprMakerDAO Is Changing The World One Decentralized Point At A Time

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.


Chris Munch

Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.