Merging latest from master

mip0.md

@@ -12,23 +12,49 @@ Dependencies: n/a
 Replaces: n/a
 ```
 
-### Components
-**MIP0c1:** Definitions of the Maker Improvement Proposal Framework  
-**MIP0c2:** Core Principles  
-**MIP0c3:** The MIP Lifecycle  
-**MIP0c4:** MIP Components and MIP Component Types  
-**MIP0c5:** MIP Replacement Process  
-**MIP0c6:** MIP Templates  
-**MIP0c7:** MIP0 Domain Role Dependencies  
-**MIP0c8:** MIP Editor Election Process  
-**MIP0c9:** MIP Editor Removal Process  
-**MIP0c10:** Governance Facilitator Election Process  
-**MIP0c11:** Governance Facilitator Removal Process  
-
-## Summary
+## Sentence Summary
+
+MIP0 defines and describes the MIPs Framework. 
+
+## Paragraph Summary
 
 MIP0 is the genesis proposal describing the MIPs Framework. This includes the core components and statuses as well as the various MIP types and the overall MIP lifecycle. Furthermore, it provides the necessary tools, such as MIP templates, replacement processes, and dependencies. Lastly, the proposal details the key roles of the framework, the MIP Editor and the Governance Facilitator along with the process for adding and removing them.
 
+## Component Summary
+
+**MIP0c1: Definitions of the Maker Improvement Proposal Framework**  
+Defines several concepts that are important for understanding the MIPs process.
+
+**MIP0c2: Core Principles**  
+Discusses some core principles that all MIPs should aim to follow.
+
+**MIP0c3: The MIP Lifecycle**  
+Lays out how a MIP is created and moves through the process to become Accepted or Rejected.
+
+**MIP0c4: MIP Components and MIP Component Types**  
+Discusses the use of components to compartmentalize and organise MIPs
+
+**MIP0c5: MIP Replacement Process**  
+Discusses how MIPs can be replaced and the steps to be taken to maintain dependencies.
+
+**MIP0c6: MIP Templates**  
+Defines the MIP templates for both General and Technical MIPs.
+
+**MIP0c7: MIP0 Domain Role Dependencies**  
+Defines the core roles that the MIPs process requires to operate successfully.
+
+**MIP0c8: MIP Editor Election Process**  
+A process component that defines both the role and the process to elect a new MIP Editor.
+
+**MIP0c9: MIP Editor Removal Process**  
+A process component that defines both the criteria and the process to remove a MIP Editor.
+
+**MIP0c10: Governance Facilitator Election Process**  
+A process component that defines both the role and the process to elect a Governance Facilitator.
+
+**MIP0c11: Governance Facilitator Removal Process**  
+A process component that defines both the criteria and the process to remove a Governance Facilitator.
+
 
 ## Motivation
 
@@ -225,13 +251,17 @@ Date Proposed: <date created on, in (yyyy-mm-dd) format>
 Dependencies: n/a
 Replaces: n/a
 ```
-**Components**
+**Sentence Summary**
 
-A list of components that are included in the specification / proposal details.
+A description of what the Maker Improvement Proposal (MIP) is focused on. Suggest 30 words max.
 
-**Summary**
+**Paragraph Summary**
 
-A description of what the Maker Improvement Proposal (MIP) is focused on.
+A description of what the Maker Improvement Proposal (MIP) is focused on. Suggest 100 words max.
+
+**Component Summary**
+
+A description of the purpose of each component in the MIP . Suggest 30 words max per component.
 
 **Motivation**
 
@@ -257,13 +287,17 @@ Dependencies: <List of depdendent MIPs>
 Replaces: <List of MIP it is replacing>
 License: <added by MIP Author>
 ```
-**Components**
+**Sentence Summary**
+
+A description of what the Maker Improvement Proposal (MIP) is focused on. Suggest 30 words max.
+
+**Paragraph Summary**
 
-A list of components that are included in the specification.
+A description of what the Maker Improvement Proposal (MIP) is focused on. Suggest 100 words max.
 
-**Summary**
+**Component Summary**
 
-A short description of what the Maker Improvement Proposal (MIP) is focused on.
+A description of the purpose of each component in the MIP . Suggest 30 words max per component.
 
 **Motivation**
 

mip1.md

@@ -5,22 +5,37 @@
 MIP#: 1
 Title: Governance Paradigms
 Author(s): Rune Christensen (@Rune23) and Charles St.Louis (@CPSTL)
+Contributors: @LongForWisdom
 Type: Process
 Status: <Assigned by MIP Editor>
 Date Proposed: 2020-04-06
 Dependencies: n/a
 Replaces: n/a
 ```
 
-### Components
-**MIP1c1:** Definitions  
-**MIP1c2:** The Initial Problem Space  
-**MIP1c3:** Changing the Problem Space  
+## Sentence Summary
 
-## Summary
+MIP1 defines and describes Governance Paradigms and problem spaces.
+
+## Paragraph Summary
 
 A Governance Paradigm is a complete and specific group of MIP Sets that solve an entire problem space. A problem space is defined as a list of issues that must be addressed in order for the Maker Protocol to be able to sustain itself and grow into the future Maker governance.
 
+## Component Summary
+
+**MIP1c1: Definitions**
+Defines what is meant by a problem space and a Governance Paradigm.
+
+**MIP1c2: The Initial Problem Space**
+Defines an initial list of problems that will need to be solved in order for there to be a complete Governance Paradigm.
+
+**MIP1c3: Changing the Governance Paradigm**
+Defines MIPs and MIP Sets as the method used to amend or replace the Governance Paradigm.
+
+
+**MIP1c4: Changing the Problem Space**
+A process component that provides a method and a template for adjusting the problem space.
+
 ## Motivation
 
 The goal of having a defined governance paradigm is to give the community a complete overview of what specific MIPs are used to address specific problems. By having a Governance Paradigm in place, the community can reform and upgrade specific parts of the governance process while complexity and dependency issues are kept in check. At the same time, it also makes it more clear how the community can completely replace and overhaul the governance process, and create something new, while guaranteeing that all the problems that were solved by the old process are also fully solved by the new process.
@@ -29,7 +44,7 @@ It is important at all times to have the best possible estimate of what the long
 
 ## Specification / Proposal Details
 
-### MIP1c1: Definitions
+### MIP1c1: Definitions 
 
 **Problem Space**
 
@@ -49,20 +64,6 @@ A complete set of processes, implemented through MIPs, that allows Maker Governa
 
 A MIP Set is a group of several MIPs that are interdependent, in which without the entire set of MIPs existing, one or more MIPs in the Set becomes inconsistent, invalid or nonsensical. The intention is for MIP sets to together describe a single complex behaviour in such a way that allows each individual MIP to be written following the principle of Specificity but work together as a cohesive modular whole. 
 
-**Amending the Governance Paradigm**
-
-A Governance Paradigm can be amended by replacing specific MIPs, or an entire MIP Set, in the Governance Paradigm while maintaining correct interfacing with all other MIPs within the MIP set and wider Governance Paradigm.
-
-**Replacing a Governance Paradigm**
-
-A governance paradigm can be replaced in its entirety by replacing all MIPs in the Governance Paradigm with a complete grouping of new MIPs, contained in MIP Sets that fully address all items in the Governance Paradigm Problem Space
-
-An individual MIP or MIP Set in the active Governance Paradigm cannot be replaced if the replacement doesn't properly interact with the other MIPs in the Governance Paradigm that the replaced MIP is dependent on, or that are dependent on the replaced MIP. Otherwise, the Governance Paradigm as a whole could break and MIPs could stop functioning correctly due to interdependency issues. Thus, you have to either replace an individual MIP or MIP Set in a Governance Paradigm or replace the entire Governance Paradigm with a completely new grouping of MIP Sets that fully address all items in the Governance Paradigm Problem Space.
-
-**Amending the Problem Space**
-
-If Maker Governance wishes to change the Governance Paradigm and processes more drastically, they need to alter the Governance Paradigm Problem Space. In most cases, this is done by expanding the Problem Space after practical experience makes it clear there are additional problems, challenges or opportunities that Maker Governance needs a clear predetermined process to deal with. However, it could also be reducing the scope of the Problem Space, or changing the language or logical grouping of some of its aspects.
-
 ---
 
 ### MIP1c2: The Initial Problem Space
@@ -88,14 +89,31 @@ The current Governance Paradigm Problem Space is defined as follows and is organ
 15.  **Dai Foundation:** Manage and fund the entity that controls legal and centralized assets, such as trademarks and copyrights, that are critical to MakerDAO. This is important for the safeguarding of the assets and preventing any possible misuse. It is critical that the community is able to have a formalized process for funding and interacting with the Dai Foundation.
 
 
-**Important Note**: 
-- The problem spaces listed above are not final but rather estimates of the problems the Maker Foundation believes will need to be addressed over the course of the next few years on our path to self-sustainability. Overall, this is a starting point and does not represent a long term commitment. It is expected that it will change over time based on the needs and experience of the Maker community.  
+**Important Note**
+
+The problem spaces listed above are not final but rather estimates of the problems the Maker Foundation believes will need to be addressed over the course of the next few years on our path to self-sustainability. Overall, this is a starting point and does not represent a long term commitment. It is expected that it will change over time based on the needs and experience of the Maker community.  
+
+---
+
+### MIP1c3: Changing the Governance Paradigm
+
+**Amending the Governance Paradigm**
+
+A Governance Paradigm can be amended by replacing specific MIPs, or an entire MIP Set, in the Governance Paradigm while maintaining correct interfacing with all other MIPs within the MIP set and wider Governance Paradigm.
+
+**Replacing a Governance Paradigm**
+
+A governance paradigm can be replaced in its entirety by replacing all MIPs in the Governance Paradigm with a complete grouping of new MIPs, contained in MIP Sets that fully address all items in the Governance Paradigm Problem Space
+
+An individual MIP or MIP Set in the active Governance Paradigm cannot be replaced if the replacement doesn't properly interact with the other MIPs in the Governance Paradigm that the replaced MIP is dependent on, or that are dependent on the replaced MIP. Otherwise, the Governance Paradigm as a whole could break and MIPs could stop functioning correctly due to interdependency issues. Thus, you have to either replace an individual MIP or MIP Set in a Governance Paradigm or replace the entire Governance Paradigm with a completely new grouping of MIP Sets that fully address all items in the Governance Paradigm Problem Space.
 
 ---
 
-### MIP1c3: Changing the Problem Space
+### MIP1c4: Changing the Problem Space
+
+If Maker Governance wishes to change the Governance Paradigm and processes more drastically, they need to alter the Governance Paradigm Problem Space. In most cases, this is done by expanding the Problem Space after practical experience makes it clear there are additional problems, challenges or opportunities that Maker Governance needs a clear predetermined process to deal with. However, it could also be reducing the scope of the Problem Space, or changing the language or logical grouping of some of its aspects.
 
-MIP1c3 is a Process-MIP component that allows the creation of sub proposals with a 3 month feedback period that can add or delete items in the Governance Paradigm Problem space.
+MIP1c3 is a Process MIP component that allows the creation of sub proposals with a 3 month feedback period that can add or delete items in the Governance Paradigm Problem space.
 
 -   **Feedback Period**: 3 months
 -   **Frozen Period**: 1 month

mip10.md

@@ -13,16 +13,28 @@
     Replaces: n/a
 
 
-### Components
-**MIP10c1:** Oracle Onboarding  
-**MIP10c2:** List of Active Oracle Data Models  
-**MIP10c3:** Process for onboarding  
-**MIP10c4:** Process for offboarding  
+## Sentence Summary
 
-## Summary
+MIP10 defines how oracles are onboarded, offboarded and managed in order to support the collateral onboarding process.
+
+## Paragraph Summary
 
 This proposal defines the process for onboarding, offboarding and managing oracles.
 
+## Component Summary
+
+**MIP10c1: Oracle Onboarding**  
+Defines a process for onboarding new oracles into the Maker Protocol.
+
+**MIP10c2: List of Active Oracle Data Models**  
+A list component that is kept up-to-date with the currently active oracle data models.
+
+**MIP10c3: Process for onboarding**  
+A process component that defines the method and template to be used to onboard new oracles for collateral assets.
+
+**MIP10c4: Process for offboarding**  
+A process component that defines the method and template to be used to offboard oracles in the case they have become obsolete or otherwise undesireable.
+
 ## Motivation
 
 In the Maker Protocol, every collateral type has a corresponding Oracle that publishes a reference price that the protocol utilizes. Therefore, the Oracle requirements must be laid out in detail for the collateral onboarding process. Governance may also choose to create Oracles for non-collateral assets for use by 3rd parties.

mip11.md

@@ -11,16 +11,28 @@ Date Proposed: 2020-04-06
 Dependencies: MIP0, MIP3, MIP7
 Replaces: n/a
 ```
-### Components
-**MIP11c1:** General Risk Model Requirements  
-**MIP11c2:** List of Active General Risk Models  
-**MIP11c3:** Process for Onboarding  
-**MIP11c4:** Process for offboarding  
+## Sentence Summary
 
-## Summary
+MIP11 defines the requirements of general risk models and how they are onboarded to and offboarded from the Maker Protocol.
+
+## Paragraph Summary
 
 This proposal defines the process and requirements for risk teams to onboard general risk models for use in collateral onboarding in MIP12.
 
+## Component Summary
+
+**MIP11c1: General Risk Model Requirements**  
+Describes the concept of a general risk model and defines both the required components that all general risk models must have and optional components that a general risk model may have.
+
+**MIP11c2: List of Active General Risk Models**  
+A list component that is kept up-to-date with the currently active general risk models.
+
+**MIP11c3: Process for Onboarding**  
+A process component that defines a method and a template for onboarding a general risk model.
+
+**MIP11c4: Process for offboarding**  
+A process component that defines a method and a template for offboarding a general risk model.
+
 ## Motivation
 
 Risk models are a crucial element of the Maker Protocol's maintenance and growth. The models provide a representation of how a risk team intends to evaluate an asset or other part of the risk function. Therefore, the purpose of this proposal is to create a defined and formalized process for Risk teams to more easily onboard their models to the Maker Protocol and ultimately help grow and maintain the Protocol.

mip12.md

@@ -11,16 +11,25 @@ Date Proposed: 2020-04-06
 Dependencies: MIP0, MIP3, MIP7, MIP10, MIP11
 Replaces: n/a
 ```  
+## Sentence Summary
 
-### MIP11 Components
-**MIP12c1:** Domain Team Requirements for Onboarding Collateral Type to the Maker Protocol  
-**MIP12c2:** Proposing New Risk Parameters, Oracles, and Collateral Adapters  
-**MIP12c3:** Collateral Type Checklist (Governance)  
+MIP12 defines the domain team and documentation requirements for adding or changing collateral packages in the Maker Protocol.
 
-## Summary
+## Paragraph Summary
 
 This proposal defines the documentation requirements for the onboarding of a new collateral type to the Maker Protocol, more specifically, the risk teams' objectives and requirements to deliver it in a unified package risk construct.
 
+## Component Summary
+
+**MIP12c1: Domain Team Requirements for Onboarding Collateral Type to the Maker Protocol**  
+Lists the required and optional domain teams involved in onboarding a collateral type to the Maker Protocol.
+
+**MIP12c2: Proposing New Risk Parameters, Oracles, and Collateral Adapters**  
+A process component that defines a method, a template and the requirements for proposing new risk parameters, oracles or collateral adaptors.
+
+**MIP12c3: Collateral Type Checklist (Governance)**  
+Defines a checklist of actions that must be completed before and after governance approval of a collateral type.
+
 ## Motivation
 
 This proposal will focus on the collateral onboarding process blueprint for submitting MIP12 Subproposals (MIP12-SPs). The subproposals allow any community member to propose new risk parameters, oracles, and adapters for a new, or existing collateral type. Additionally, it will also define priority polls and the overall collateral onboarding process requirements. Furthermore, it allows domain teams to execute on collateral onboarding via the executive vote. This is the last step that needs to be completed when you have the risk construct with risk parameters based on a risk model ratified through MIP11.