The MakerDAO MIP6 Proposal Has Been Approved!

For those of you who may have missed it, there was a recent on-chain community vote spanning over the past two weeks for our MakerDao MIP6 proposal. This proposal was brought forth by NAOS Finance, PandaCredit, and Centrifuge to introduce the tokenization and funding of supply chain finance assets with our supply chain partner company in the semiconductor space.

We know everyone has been anxiously awaiting the result — and we’re happy to say that we’ve got good news for you!

That’s why today, we’re pleased to let you know that we’ve passed the MakerDao community green light poll to move forward! A special thanks goes out to the community of MKR token holders who believe in the value of this real-world asset and helped push this initiative through, and the members of the newly created MakerDao RWA committee for getting on the Collateral Onboarding call where we discussed the industry, asset type, and business model advantages and risks.

To keep the ball rolling, we’re going to lay out what’s happening next.

Next Steps

Now that we’ve set up a Tinlake pool and the MIP6 proposal has been approved by the community, there are a few more steps in this process before everything is set in stone.

  1. Due Diligence: This step is broken out into three parts

Risk Evaluation: Various financial debt, rate, and fee terms are negotiated with the Real World Finance core team who will then publish their risk evaluation to the community. We will frequently report details to the MakerDAO community

Smart Contracts Evaluation: The smart contracts will be reviewed, as they will be continuously utilized to help scale the RWA collateral onboarding process

Oracle Assessment: This assessment is carried out to be able to pivot from manual to independent control and have a trustless third party assessment

2. Governance Poll: MakerDAO stakeholders will vote — if we receive the majority, we’ll be all set to prepare for going live on the mainnet

3. Spin up a Tinlake pool

4. Executive Vote: The last step where MakerDAO stakeholders will cast a final vote of approval before go-live

We’ll continue to keep our community up to date on the progress and how things develop in the future. We’re now one step closer to making the tokenization of these real-world assets a reality!

About NAOS Finance

NAOS Finance is a DeFi lending protocol allowing lenders and SME borrowers to facilitate permissionless and borderless loaning/borrowing transactions on the blockchain. Built on Ethereum, our platform lets users tokenize real-world assets and subsequent lending.

We operate compliantly and legally in top markets around the globe, maintaining safety as a top priority and fostering enhanced trust in the lending/borrowing process.

To remain informed on everything about our project, be sure to visit our website and join the family by following our social media platforms:

Website | Whitepaper | Telegram Announcements Channel | Telegram Community | Discord | Twitter