Merge branch 'master' into update-STA-Scope-MISC-articles-

MIP104/MIP104.md

@@ -34,25 +34,62 @@ Members of the Advisory Council are directly approved by Maker Governance throug
 
 ##### 1.1.1.1
 
-The Stability Facilitators must ensure that potential Advisory Council Members can apply to be approved by Maker Governance, using an open process with clear instructions.
+The Stability Facilitators must ensure that potential Advisory Council Members can apply to be approved by Maker Governance, using an open process with clear instructions as per *1.1.1.3*.
 
 ##### 1.1.1.2
 
-Advisory Council Members must be Ecosystem Actors that are not involved in any business activity that could result in a conflict of interest, either directly or indirectly. They must also have relevant skills for providing professional expert input on the content that the Stability Scope is covering.
+Advisory Council Members must be Ecosystem Actors that are not involved in any business, political, or other governance-related activity that could result in a conflict of interest, either directly or indirectly. They must also have relevant skills for providing professional expert input on the content that the Stability Scope is covering.
 
 ##### 1.1.1.3
 
-The Stability Facilitators must periodically, when it is relevant, review the Advisory Council Applications, and if they find applications that are suitable, bring them to a vote through an MKR governance poll. Approved Advisory Council Members are added to *1.1.1.5.1A*.
+The Stability Facilitators must periodically, when it is relevant, review the Advisory Council Applications, and if they find applications that are suitable, bring them to a vote through an MKR governance poll. When Advisory Council Applications are posted on the Maker Forum, which must follow the template as per *1.1.2.4.1A*, the Stability Facilitators have a review period of 30 days. During this review period, the applicant must host a Community Q&A and shall answer as many questions and doubts as possible.
+
+###### 1.1.1.3.1
+
+The Stability Facilitators can extend this deadline, if necessary, by 15 days, provided they posted the justification in the Maker Forum.
+
+###### 1.1.1.3.2
+
+Once the review period is ended, the Stability Facilitators must publish the response to the application on the Forum, along with a description of the reasoning behind the decision. If approved, the application will continue with the Governance Process and proceed to a vote as per *1.1.1.3*.
+
+###### 1.1.1.3.3
+
+Upon a successful vote, the Stability Facilitators must arrange a service contract with the Advisory Council member, which must be made public. Approved Advisory Council Members are added to *1.1.1.6.1A*.
+
+###### 1.1.1.3.4
+
+Approved Advisory Council members have a term of service of 18 months from the time they are approved by Maker Governance. If desired, the Advisory Council Member can submit a new application for re-election when their term has between 60 and 30 days remaining. The re-election application must also fulfill *1.1.2* requirements and will open a new review period of 30 days where the Maker Community can provide feedback. The applicant shall again host a Community Q&A and respond to as many questions and doubts as possible. If approved, the re-election application will continue with the Governance Process and proceed to a vote as per *1.1.1.3*.
 
 ##### 1.1.1.4
 
 The Stability Facilitators may, if they deem it necessary, trigger a vote to remove an Advisory Council Member. If an Advisory Council Member has not done any paid work for the Scope for at least 1 year, then the Stability Facilitators can choose to remove them at will, if they deem it necessary.
 
-##### 1.1.1.5
+##### 1.1.1.5: Stability Advisory Council Requirements
+
+###### 1.1.1.5.1
+
+Stability Advisory Council members can be individuals, groups of people, legal entities, or companies. They can be pseudonymous or known entities. Stability Advisory Council members must be aligned with the long-term goals of MakerDAO Endgame.
+
+###### 1.1.1.5.2
 
-The current approved Stability Advisory Council Members are recorded in *1.1.1.5.1A*.
+Desired competencies for members of the Stability Advisory Council, as many of the following as possible:
 
-###### 1.1.1.5.1A
+1. Expertise in capital markets, bonds, equities.
+2. Experience as a market analyst or economist.
+3. Expertise in tokenomics.
+4. Expertise in fund management and risk profiles.
+5. Deep knowlege of decentralized collateral accounting and finance.
+6. Experience in credit risk, market risk, liquidity risk, and operational risk.
+7. Deep understanding of principles of portfolio construction, asset allocation, diversification strategies, and performance measurement.
+8. Experience in smart contract and DeFi risk management.
+9. Experience in economic modeling of high-volatility portfolios.
+10. Expertise in Value at Risk analysis with detailed knowledge about the limitations of the method.
+
+##### 1.1.1.6
+
+The current approved Stability Advisory Council Members are recorded in *1.1.1.6.1A*.
+
+###### 1.1.1.6.1A
 
 ¤¤¤
 
@@ -64,31 +101,89 @@ Current list of Advisory Council Members:
 
 ¤¤¤
 
-#### 1.1.2: Stability Advisory Council Projects and Funding
+#### 1.1.2: Stability Advisory Council Recognition
+
+##### 1.1.2.1
+
+In order to be eligible for the Stability Advisory Council as per *1.1.1.3*, an Ecosystem Actor must post a recognition submission message publicly on the Maker Governance Forum.
+
+##### 1.1.2.2
+
+The submission message must be cryptographically signed by the Ecosystem Actor address.
+
+##### 1.1.2.3
+
+The cryptographically signed Stability Advisory Council Recognition Submission Messages must contain the information specified in *1.1.2.3.1* and *1.1.2.3.2*.
+
+###### 1.1.2.3.1
+
+The following text must be included: “[Name] Stability Advisory Council Recognition"
+
+###### 1.1.2.3.2
+
+A timestamp recording the time and date that the message was signed.
+
+##### 1.1.2.4
+
+The submission message must follow the template *1.1.2.4.1A*
+
+###### 1.1.2.4.1A
+
+```
+Title: [Name] Stability Advisory Council Recognition Submission
+        - [Ecosystem Actor Ethereum address]
+        - [Cryptographically signed Advisory Council Recognition Submission Message]
+        - Applicant's name: [Company, team, or individual]
+        - Any other relevant identifying details:
+            - Twitter:
+            - Website:
+            - Email:
+            - Maker Forum:
+            - Telegram:
+            - LinkedIn:
+            - Discord:
+            - Github:
+            - Other:
+        - Presentation: [Introduction]
+        - Ethos and Vision:
+        - Team: [Founders and team members. Brief description of their skills and backgrounds]
+        - Services: [What is your company specialized in? What kind of services do you offer?]
+	      - Experience: [A detailed history of relevant previous experience]
+        - Client References: [Who are your clients, what projects have you done and can you show the results of any of them?]
+        - Explain how your skills will contribute to improving the selected Scope: [Which specific aspect of the Scope do you intend to enhance, and what is the rationale behind your choice? How do you plan to improve the chosen aspect? Provide milestones, if applicable].
+        - Payment Details: [How shall the compensation for your contributions be structured?  How many hours shall the work entail? Detail as much as possible]
+	      - Emergency Availability: [Would you be available on short notice to provide advisory support in the event of an unforeseen emergency? How short of a notice? What would be your hourly rate for emergency advisory services rendered?]
+```
+
+#### 1.1.3: Stability Advisory Council Projects and Funding
 
 The Advisory Council is paid on a project basis to do specific work that improves all or specific parts of the Scope Framework.
 
-##### 1.1.2.1
+##### 1.1.3.1
+
+Entities are encouraged to submit applications with the intention of enhancing a specific portion of the Scope Framework. Any entity can notice a problem in the Scope or something that can and should be improved and apply to undergo a process to suggest improvements. The Stability Facilitators should diligently encourage participants possessing relevant areas of expertise to actively engage in this process to the fullest extent possible. Accordingly, once this MIP is successfully passed, it is imperative that the Stability Facilitators promptly post a Request for Applicants to the forum within a period of 30 days. The Stability Facilitators may choose to utilize a Peer-to-Peer recruiting process, which involves allocating a portion of the Stability Advisory Council budget to incentivize ecosystem participants and community members to actively seek out applicants, providing comprehensive explanations of the process.
+
+##### 1.1.3.2
 
 Each Quarter, if they deem it necessary, the Stability Facilitators must solicit proposals and find one or more suitable Advisory Council Member to perform a project that will result in output that can be used to improve the Scope Artifact. This work output will be presented to the AVC Subcommittee Meetings as input for their Aligned Scope Proposals. As many AVCs as possible should be supported this way, prioritized by the Stability Facilitators.
 
-##### 1.1.2.2
+##### 1.1.3.3
 
 In case an ambiguous, uncertain or challenging situation arises related to the Scope Framework, the Stability Facilitators may publicly notify the Advisory Council Members to submit proposals for projects that aim to reactively specify the language of the Scope Framework to take into account the specific situation. The Stability Facilitators can then directly propose the change to the Scope Framework in a weekly governance poll.
 
-##### 1.1.2.3
+##### 1.1.3.4
 
 The Advisory Council may produce work output that is not directly compatible with the formatting of the Scope Artifact. In this case the Stability Facilitators must either transcribe it themselves, or hire an Ecosystem Actor to perform the transcription. This role does not require pre approval by Maker Governance.
 
-#### 1.1.3
+#### 1.1.4
 
 The Stability Facilitators may produce advisory input on the content of the Scope Artifacts themselves, as long as it is focused on improving process and governance content. They are prohibited from providing unilateral input on expert subject matter content.
 
-#### 1.1.4
+#### 1.1.5
 
-The Stability Facilitators have a budget available to pay for Advisory Council Projects per quarter. All spending must be limited to only what is deemed necessary and with a high probability of producing clearly measurable value, and this must transparently be accounted for in a forum post at least a week before any transaction occurs. The budget is contained in *1.1.4.1B*.
+The Stability Facilitators have a budget available to pay for Advisory Council Projects per quarter. All spending must be limited to only what is deemed necessary and with a high probability of producing clearly measurable value, and this must transparently be accounted for in a forum post at least a week before any transaction occurs. The budget is contained in *1.1.5.1B*.
 
-##### 1.1.4.1B
+##### 1.1.5.1B
 
 ¤¤¤
 
@@ -116,7 +211,7 @@ Before the launch of AllocatorDAO Vaults, the Core Stability parameters are fixe
 
 ### 3.1: The Base Rate
 
-The Base Rate is regularly updated by the Stability Facilitator to approximate ((Yield Collateral Yield Benchmark - 0.5%) * 0.78 + Stability Collateral Yield Benchmark * 0.22). The up to date Base Rate is contained in *3.1.1A*. Whenever an update to the Base Rate occurs, the Stability Facilitator must trigger an executive vote to update the on-chain Stability Fees of the AllocatorDAO Vaults
+The Base Rate is regularly updated by the Stability Facilitator to approximate ((Yield Collateral Yield Benchmark - 0.5%) * 0.78 + Stability Collateral Yield Benchmark * 0.22). The up to date Base Rate is contained in *3.1.1A*. Whenever an update to the Base Rate occurs, the Stability Facilitator must trigger an executive vote to update the on-chain Stability Fees of the AllocatorDAO Vaults.
 
 #### 3.1.1A
 
@@ -156,7 +251,7 @@ When NewGovToken and SubDAO farming comes into effect, DSR utilization will coun
 
 The EDSR cannot exceed 5%. If the EDSR formula outputs a number above 5%, the actual effective EDSR implemented in the protocol will be 5% instead.
 
-##### 3.2.2.2: EDSR Utilization-based Multipliers
+##### 3.2.2.2: EDSR Utilization-Based Multipliers
 
 Each of the following EDSR multiplier tiers are triggered based on the utilization rate. When first adopted, the EDSR begins at tier 1. If at any point in time the DSR utilization stays above the level needed to trigger the movement to a new tier for a continuous period of more than 24 hours, the tier is changed, and a manual DSR adjustment must be included in the next executive vote.
 
@@ -170,7 +265,7 @@ Each of the following EDSR multiplier tiers are triggered based on the utilizati
 - Multiplier: 1.15x DSR
 - Utilization: 35-50%
 
-##### 3.2.2.3:
+##### 3.2.2.3
 
 EDSR ends permanently once DSR utilization crosses above 50% for a continuous period of more than 24 hours.
 
@@ -292,7 +387,6 @@ The Stability Facilitators have a budget available to pay costs related to stres
 ¤¤¤
 
 The Legal Recourse Asset budget is:
-
 - Up to 1,000,000 DAI available per year.
 
 The full amount is immediately available at the start of the calendar year, and parts of it can be paid out through executive vote bundling when requested by the Stability Facilitators.
@@ -435,7 +529,7 @@ AllocatorDAOs must be actively market making Cash Stablecoins against Dai with a
 
 A Cash Stablecoin is a stablecoin listed in *7.2.1.3.1A* or a technically secure DeFi token that can be instantly converted to a listed stablecoin, or a custody solution that can be converted into a listed stablecoin within 30 minutes. The Stability Facilitators can modify *7.2.1.3.1A* through the weekly cycle to react to changing market conditions, opportunities or risks.
 
-###### 7.2.1.3.1A
+###### 7.2.1.3.1A:
 
 ¤¤¤
 
@@ -624,4 +718,4 @@ All other collateral types must be offboarded when the Stability Facilitators co
 
 ### 14.4: Legacy Legal Recourse Assets
 
-Legacy Legal Recourse Assets are LRA collateral types that were onboarded based on the governance process prior to the Alignment Artifacts going into force. Legacy LRA should be offboarded when it is possible to do so, but in some cases existing LRA can be maintained and even onboarded to preserve business relationships and reputation, as determined by the Stability Facilitators. All Legacy Legal Recourse Assets must be offboarded prior to NewChain Launch. The Stability Facilitators must expand this article to detail all Legacy Legal Recourse Assets and detailed, specific plans for when and how they will be offboarded.
+Legacy Legal Recourse Assets are LRA collateral types that were onboarded based on the governance process prior to the Alignment Artifacts going into force. Legacy LRA should be offboarded when it is possible to do so, but in some cases existing LRA can be maintained and even onboarded to preserve business relationships and reputation, as determined by the Stability Facilitators. All Legacy Legal Recourse Assets must be offboarded prior to NewChain Launch. The Stability Facilitators must expand this article to detail all Legacy Legal Recourse Assets and detailed, specific plans for when and how they will be offboarded.