--- title: Template - [Executive Vote] Parameter Changes, September Core Unit Budgets, DssVest Streams - September 3, 2021 summary: Decreasing Flash Mint Fee (toll), increasing PSM-PAX-A Debt Ceiling, distributing Core Unit Budgets, and establishing DssVest streams for budgets and MKR vesting. date: 2021-09-03T00:00:00.000Z address: "0x838777A418ffbB9a0399FA1E5e7a3618933F54c6" --- # [Executive Proposal] Parameter Changes, September Core Unit Budgets, DssVest Streams - September 3, 2021 The Governance Facilitator(s) and the Protocol Engineering Core Unit have placed an executive proposal into the voting system. MKR Holders should vote for this proposal if they support the following alterations to the Maker Protocol. If you are new to voting in the Maker Protocol, please see the [voting guide](https://community-development.makerdao.com/en/learn/governance/how-voting-works/) to learn how voting works, and this [wallet setup guide](https://community-development.makerdao.com/en/learn/governance/voting-setup/) to set up your wallet to vote. --- ## Executive Summary If this executive proposal passes, the following **changes** will occur within the Maker Protocol: - The Flash Mint Fee (toll) will be **decreased** from 0.05% to 0%. - The PSM-PAX-A [Debt Ceiling](https://makerdao.world/en/learn/governance/param-debt-ceiling) will be **increased** from 50 million DAI to 500 million DAI. - 2 million DAI will be distributed to the DAI Foundation Reserves Backup Wallet. - 138,591 DAI will be distributed to the DAI Foundation Operational Wallet. - 155,237 DAI will be distributed to the Sustainable Ecosystem Scaling Auditors' Wallet. If this executive proposal passes, the following **additions** will be made to the Maker Protocol: - [DssVest](https://mips.makerdao.com/mips/details/MIP54) will be implemented, establishing both budget and MKR vesting agreement streams listed in the Proposal Details section. **Voting for this executive proposal will place your MKR in support of the changes and additions outlined above.** Unless otherwise noted, the changes and additions listed above are subject to the [GSM Pause Delay](https://community-development.makerdao.com/en/learn/governance/param-gsm-pause-delay). This means that if this executive proposal passes, the changes and additions listed above will only become active in the Maker Protocol after the GSM Pause Delay has expired. The GSM Pause Delay is currently set to **48 hours**. If this executive proposal does not pass within 30 days, then it will expire and can no longer have any effect on the Maker Protocol. --- ## Proposal Details ### Decreasing the Flash Mint Fee (toll) As per the result of this [poll](https://vote.makerdao.com/polling/QmPvcF8K?network=mainnet#poll-detail) and original [signal request](https://forum.makerdao.com/t/signal-request-lower-the-flash-mint-fee-to-0/9847), the Flash Mint Fee (toll) will be **decreased from 0.05% to 0%** if this executive proposal passes. For more information on the Flash Mint Module, please review the [MIP25 discussion](https://forum.makerdao.com/t/mip25-flash-mint-module/4400) and [public repository](https://github.com/makerdao/dss-flash). ### Increasing the PSM-PAX-A Debt Ceiling As per the result of this [poll](https://vote.makerdao.com/polling/QmdBrVKD?network=mainnet#poll-detail) and following the plan detailed in this [thread](https://forum.makerdao.com/t/2021-august-20-exec-update-pax-psm-at-50m-this-week/9958), the [Debt Ceiling](https://makerdao.world/en/learn/governance/param-debt-ceiling) for PSM-PAX-A will be **increased from 50 million DAI to 500 million DAI** if this executive proposal passes. ### One-time Budget Distributions The following budget distributions will be made if this executive proposal passes: - 155,237 DAI will be distributed to the **[Sustainable Ecosystem Scaling (SES-001)](https://mips.makerdao.com/mips/details/MIP39c2SP10)** Core Unit at **0x87AcDD9208f73bFc9207e1f6F0fDE906bcA95cc6** as specified in their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP10). - 2 million DAI will be distributed to the **[DAI Foundation (DAIF-001)](https://mips.makerdao.com/mips/details/MIP39c2SP17) Reserves Backup Wallet** at **0x5F5c328732c9E52DfCb81067b8bA56459b33921f** as specified in their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP24). - 138,591 DAI will be distributed to the **[DAI Foundation (DAIF-001)](https://mips.makerdao.com/mips/details/MIP39c2SP17) Operational Wallet** at **0x34D8d61050Ef9D2B48Ab00e6dc8A8CA6581c5d63** as specified in their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP24). ### DssVest Implementation and Initial Streams As per this [ratification poll](https://vote.makerdao.com/polling/QmPfjETk?network=mainnet#poll-detail), DssVest will be implemented and the following token streams established if this executive proposal passes. For more information on DssVest, please review [MIP54](https://mips.makerdao.com/mips/details/MIP54) and its [forum thread](https://forum.makerdao.com/t/mip-54-dssvest/8025). **DAI Streams** *Note all DAI Streams have a start date of September 1, 2021 with the exception of the DAI Foundation, which will begin on October 1, 2021.* 492,971 DAI will be streamed to the **[DAI Foundation (DAIF-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP17)** through September 1, 2022 at **0x34D8d61050Ef9D2B48Ab00e6dc8A8CA6581c5d63** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP24). 620,000 DAI will be streamed to the **[Real-World Finance (RWF-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP1)** through January 1, 2022 at **0x9e1585d9CA64243CE43D42f7dD7333190F66Ca09** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP12). 2,184,000 DAI will be streamed to the **[Risk (RISK-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP2)** through September 1, 2022 at **0xd98ef20520048a35EdA9A202137847A62120d2d9** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP13). 123,333 DAI will be streamed to the **[GovAlpha (GOV-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP3)** through October 1, 2021 at **0x01D26f8c5cC009868A4BF66E268c17B057fF7A73** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP11). 103,134 DAI will be streamed to the **[Content Production (MKT-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP5)** through November 1, 2021 at **0xDCAF2C84e1154c8DdD3203880e5db965bfF09B60** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP21). 4,196,771 DAI will be streamed to the **[Oracles (ORA-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP13)** through July 1, 2022 at **0x2d09B7b95f3F312ba6dDfB77bA6971786c5b50Cf** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP15). 122,700 DAI will be streamed to the **[Governance Communications (COM-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP8)** through January 1, 2022 at **0x1eE3ECa7aEF17D1e74eD7C447CcBA61aC76aDbA9** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP8). 300,050 DAI will be streamed to the **[Growth (GRO-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP4)** through November 1, 2021 at **0x7800C137A645c07132886539217ce192b9F0528e** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP19). 4,080,000 DAI will be streamed to the **[Protocol Engineering (PE-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP7)** through May 1, 2022 at **0xe2c16c308b843eD02B09156388Cb240cEd58C01c** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP7). **MKR Streams** 1,051.25 MKR will be streamed to the **[Oracles (ORA-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP13)** starting July 1, 2021 through July 1, 2022 at **0x2d09B7b95f3F312ba6dDfB77bA6971786c5b50Cf** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP15). A 1-year cliff is in place, making MKR claimable on July 1, 2022. 803.18 MKR will be streamed to the **[Growth (GRO-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP4)** starting July 1, 2021 through July 1, 2022 at **0x7800C137A645c07132886539217ce192b9F0528e** in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP19). A 1-year cliff is in place, making MKR claimable on July 1, 2022. 13,930 MKR total will be streamed to 14 team members of the **[Protocol Engineering (PE-001) Core Unit](https://mips.makerdao.com/mips/details/MIP39c2SP7)** as detailed below, in accordance with their active [budget proposal](https://mips.makerdao.com/mips/details/MIP40c3SP7). All team members have a 1-year cliff and will have their 995 MKR streamed over 4 years. | **Address** | **Stream Start Date** | |--------------------------------------------|-----------------------| | 0xfDB9F5e045D7326C1da87d0e199a05CDE5378EdD | 2021-05-01 | | 0xBe4De3E151D52668c2C0610C985b4297833239C8 | 2021-05-01 | | 0x58EA3C96a8b81abC01EB78B98deCe2AD1e5fd7fc | 2021-05-01 | | 0xBAB4Cd1cB31Cd28f842335973712a6015eB0EcD5 | 2021-05-01 | | 0xB5c86aff90944CFB3184902482799bD5fA3B18dD | 2021-05-01 | | 0x780f478856ebE01e46d9A432e8776bAAB5A81b5b | 2021-05-01 | | 0x34364E234b3DD02FF5c8A2ad9ba86bbD3D3D3284 | 2021-05-01 | | 0x46E5DBad3966453Af57e90Ec2f3548a0e98ec979 | 2021-05-01 | | 0x18CaE82909C31b60Fe0A9656D76406345C9cb9FB | 2021-05-01 | | 0x301dD8eB831ddb93F128C33b9d9DC333210d9B25 | 2021-05-01 | | 0xBFC47D0D7452a25b7d3AA4d7379c69A891bD5d43 | 2021-05-01 | | 0xcD16aa978A89Aa26b3121Fc8dd32228d7D0fcF4a | 2021-09-13 | | 0x3189cfe40CF011AAb13aDD8aE7284deD4CD30602 | 2021-06-21 | | 0x29b37159C09a65af6a7CFb062998B169879442B6 | 2021-09-20 | ## Review Community debate on these topics can be found on the MakerDAO [Governance forum](https://forum.makerdao.com/). Please review any linked threads to inform your position before voting. Additionally, these changes may have been discussed further in recent Governance calls. [Video](https://www.youtube.com/playlist?list=PLLzkWCj8ywWNq5-90-Id6VPSsrk4OWVan) for these calls is available to review. --- ## Resources Additional information about the Governance process can be found in the [Governance](https://community-development.makerdao.com/en/learn/governance) section of the MakerDAO community portal. To participate in future Governance calls, please [join us](https://github.com/makerdao/community/tree/master/governance/governance-and-risk-meetings) every Thursday at 17:00 UTC. To add current and upcoming votes to your calendar, please see the [MakerDAO Public Events Calendar](https://calendar.google.com/calendar/embed?src=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com&ctz=UTC&mode=week&showCalendars=0&showPrint=0).