MakerDAO, the organization that governs the DAI stablecoin, has passed a proposed “constitution” aimed at formalizing its governance processes and preventing hostile takeovers of the protocol. The constitution establishes various offices with distinct powers and responsibilities, including constitutional conservers (CCs), constitutional voter committee members (CVCMs), and constitutional delegates (CDs).
These offices are tasked with protecting and facilitating the Maker Governance process, crafting position documents for voters, and operating smart contracts that enable MKR holders to delegate their tokens without losing custody. Additionally, each office has the power to remove listings of officers from the app’s front end if they violate the constitution. Despite criticism that the constitution is too authoritarian, it passed with 76.04% of the MKR vote. Maker founder Rune Christensen sees the constitution as a step towards the “Endgame Plan” to convert MakerDAO into a decentralized organization that maintains DAI’s stability.