Deep Dive into Assigned Roles in MakerDAO

Recent Changes to MakerDAO Governance

Due to recent upgrades (i.e., Endgame plan) to MakerDAO's governance, delegates have received new addresses for their roles in the new governance system. As a result, for these delegates, both old and new addresses need to be used to understand their voting behavior and their voting power.

Furthermore, delegates, grouped as five types of CVCs (Constitutional Voter Committees) are now broadly classified into three categories (see below for details).

Category

Hawkish

Example CVC

KISS CVC

Core Value & Goal

1. DAI, the decentralised stablecoin, is the product of MakerDAO and its main focus. It must remain stable, decentralised, open to everybody and uncensorable.

2. People with stake in the game are DAI holders and MKR holders. DAI holders rely on the key characteristics of DAI listed above. MKR holders have invested their own money in the project and must to be rewarded. The reward is, of course, primarily financial (value appreciation of MKR) but can also come in other forms: sense of stability and trust in the protocol, ‘status’ (if MakerDAO becomes trendy), sense of fulfillment if MakerDAO contributes to some good causes, etc.

Category

Hawkish

Example CVC

Resiliency CVC

Core Value & Goal

1. Resilient- MakerDAO ought to endure the test of time.

2. Privacy focused- MakerDAO ought to support both contributors' and DAI users' privacy.

3. Hawkish- For MakerDAO to improve DAI's resilience, the Surplus Buffer should be expanded and borrowers thoroughly screened.

Category

Dovish

Example CVC

Growth CVC

Core Value & Goal

1. Anon / Time zone friendly. We will have a public CVC text place (whether that’s forum or email or others that are compliant) where CDs or others who want to share their suggestions and voice their opinions can send in to count as participation.

2. Can be critical but be respectful. Just because we are in a CVC doesn’t mean Growth CVC should not tolerate any criticism. However, as a governance participant in Maker, all should be respected and foul plays (like explicit insults) won’t be received well.

3. A Safe Harbor. While the banning rule from CVC to CD is not yet crystal clear, we will not ban CDs unless they acted in an unconstitutional way deemed by both CVC and facilitators. In addition, any CDs that were banned by other CVCs for “preference” rather than breaking the constitution will have a chance in Growth CVC.

Category

Neutral

Example CVC

Regenerative Finance CVC

Core Value & Goal

Our priority is to advance the role of DAI as an “Unbiased World Currency” that supports “The Regeneration” as may be interpreted through the 8 Principles of a Regenerative Economy published by the Capital Institute (available for reference at capitalinstitute.org).

Category

Neutral

Example CVC

Composable CVC

Core Value & Goal

1. Credible Neutrality. Though the jokecouncil will instill a number of members to steward the CVC, our intent is to leverage the jokerace contests to surface feedback from all $JOKE holders and implement a practice of on-chain participation that extends beyond us. It is most important to us that the platforms provide a case study for fair, bottoms up participation.

2. Low Ego, High Experimentation As a governance participant in Maker, all should be respected and the jokecouncil CVC will prioritize learning and iterating over getting things right the first time

3. Anon / Time zone friendly. We will have a public CVC text place and frequently utilize the public, on-chain joke contests to surface ideas publicly and inform sync conversations within the designated meeting times.

An important factor is consider is that Hawkish CVCs aim to depeg DAI from USD through the Endgame Plan.

Helpful Links for Understanding Assigned Roles

Stakeholder Name	Profiles on Governance Portal	Notes
Feedback Loop LLC	Old address 1,000 delegated (> 90%) MKR from a16z (as of 2023-05-08) New address – Growth CVC New address –Composable CVC 5,000 delegated MKR from Rune (as of 2023-05-08)	Dovish (Growth CVC) & Neutral (Composable CVC) Profile on MCD Governance Tracker
a16z	Address	Not specified. Likely Dovish.
ParaFi Capital	Old address New address – Growth CVC	Dovish
Flip Flop Flap (3fdelegate)	Old address New address – KISS CVC	Hawkish
Rune Christensen	Address	Hawkish & Neutral (based on delegates receiving delegated MKR tokens from Rune) Overview of delegates under Rune's economic influence.