Collateral: assets locked in a Vault
Collateral Onboarding Domain Teams: Collateral Onboarding Domain Teams (Risk, Oracles, and Smart Contracts) are mandated (elected by MKR holders) to work for MakerDAO. The domain teams perform defined duties, such as onboarding collateral to the Maker Protocol and mitigating risk.
Collateral Onboarding Prioritization Framework: This framework compares and prioritizes proposed collateral types based on defined metrics and weights. The metrics and weights feed a scoring system that's used to stimulate thoughtful discussions and help inform the domain teams on which collateral types to prioritize. It’s important to note that the scoring system is not the only tool used to help determine collateral asset prioritization. The collateral onboarding domain teams may also pursue collateral types previously deferred by the Community Greenlight Polls or those that have yet to be greenlit by the Maker Governance community.
Dai: USD pegged decentralized stablecoin of the Maker Protocol
Decentralized Risk Management: the cooperative interaction between Maker Token Holders and the Risk Domain Teams to manage risks in MakerDAO.
Executive Vote: Executive Votes occur on-chain and are accessed through the Maker Foundation's Voting Portal. Executive Votes "execute" changes to MakerDAO as a whole, including governance processes and the Maker Protocol. In the context of Collateral Onboarding, Executive Votes are used for:
Add or remove collateral types to the Maker Protocol
Adjust global system parameters.
Adjust Maker Vault-specific parameters.
Upgrade a collateral type’s smart contracts.
Executive Spell: A smart contract that is created for each Executive Vote, implementing new logic to the Maker Protocol agreed upon by voters in Governance polls. In the context of collateral onboarding, this contract contains the logic to officially implement the necessary changes to the Maker Protocol to add the functionality for new collateral types.
Feed: an organization or individual that runs a price-feed that is used the Maker Protocol's Oracle system
Generated Dai: the amount of Dai generated against one's collateral using a Maker Vault
Global Debt Ceiling: the maximum amount of Dai that can be generated in the Maker Protocol.
Governance Facilitator: ensures the smooth operation of the governance process. This involves a wide range of activities, from general administration and signal-gathering to governance scheduling.
Governance Poll: Governance Polls occur on-chain and are accessed through the Maker Foundation's Voting Portal. The purpose of Governance Polls are to measure the sentiment of MKR voters. In the case of Collateral Onboarding, Polls are used to:
Measure sentiment on Executive Vote proposals to officially add the collateral type to the Maker Protocol.
Ratify risk parameters for new collateral types as presented by Risk domain teams.
Governance Portal: a front-end application that allows you to interact with MakerDAO's on-chain governance
Maker Foundation: the organization that was created to develop and bootstrap the Maker Protocol.
Maker Protocol: the entire smart-contract system of MakerDAO, also known as Multi-Collateral Dai.
MIP Editor: enforces the administrative and editorial aspects of the overall MIPs process and framework.
MKR: the governance token of MakerDAO.
Oracle: a mechanism which makes off-chain data, such as price data, available on-chain for use in smart-contracts.
Oracle Security Module: a security mechanism that delays and publishes the reference price produced by the Oracle System.
Price-Feed Delay: a risk parameter that controls the delay of the reference prices published by the Oracle system.
Reference Price: the published price of an asset that is produced by the Maker Protocol's Oracle system and that is used for calculations in the Maker Protocol.
Risk Model: an analytical model measuring and predicting risk, including the input data and output of the model
Risk Parameters: a set of configurable, risk-related, variables used to manage the system
Stability Fee: a variable Fee charged to a Vault for the generation of Dai, set by MKR holders through the governance of the Maker Protocol.
Time-Based Voting: a voting design that ends a vote at a predetermined time.
Vault: a core component of the Maker Protocol that facilitates the creation of Dai against locked up collateral, there are different Vault types users can utilize
Vote Proxy Contract: a smart-contract that makes linked wallet voting possible, allowing MKR token holders to vote with their hot wallets using MKR that is stored on their cold wallets
Voting Contract: a smart-contract that allows MKR holders to vote with their tokens