G&R #148 Snippet
Domain team updates, Collateral Onboarding, active discussions, and more. All the updates from MakerDAO Governance and Risk Call #148 in this
GovAlpha Weekly Update
- Executive has not yet passed and needs 500 MKR to pass. Please vote.
- One poll by the MakerDAO Open Market Committee proposing parameter changes will be in Executive this week.
- This week’s Executive includes many things.
- Adjusting Executive and polling system with the help of many members.
- Put together templates for delegation, which will soon be public. We will be starting a Meet Your Delegates meetings.
- New and improved version of the MIPs portal being pushed to production.
Forum at a Glance: June 25 - July 1, 2021
- Optimism Dai Bridge final review. We are complete for test deployments.
- Pending official launch date from Optimism
- D3M. Completed code but not an immediate priority - requires a review
- SushiJoin Adapter complete - awaiting Sushi teamwork
- Final Echidna and audit tests for the L2 escrow
- Starting to use Certora to formally verify optimism-dai-bridge
- ESM Postmortem - to be published this week
- MegaPoker Postmortem - to be published this week
- Defined expected magnitude ranges for all dss parameters and quantities
- Oracle Tail risk mitigation
- Oracle CU polling vote has passed.
- Busy with legal work on the back-end.
- Carefully working on Gopher pricing tool. A minority of stakeholders upgrading and is running smooth. We will begin to complete the remainder of the migration.
Spire coming out soon within the next few weeks, which adds an extra layer of redundancy similar to scuttlebutt. Both Spire and Scuttlebutt will be working in parallel.
- Published two collateral evaluations for stETH and MATIC.
- Ongoing work on D3M. Evaluation should be finished by next week.
- Ongoing discussion about Institutional Vaults, which may soon be called Conditional Vaults.
- Preparing simulations testing lower LR ratios on Vaults.
- PE Team asked to look into Defcon Spells.
Real World Finance
Real-World Finance Core Unit Report - 2021-06
- NewSilver request proposing to increase DC from 5 million to 20 million.
- Improvement in the smart contract for NewSilver following an audit by ABDK.
- Centrifuge collaterals approved by Governance were delayed, pushed to Kovan for next week.
- For SolarX, the risk assessment is delayed as we are discussing with them to improve MakerDAO safety by having more collateral at the beginning.
- Continuing progress on the Cayman Islands legal and tax side.
- Began working on a real database both on-chain and off-chain to create more elaborative and useful models for data use replacing Dune Analytics.
Growth CU weekly update: June 25 - July 1
- Speaking with various companies that require Maker to pass through KYC processes. In deep discussion with Circle.
- Spoke with Galaxy, who like the idea of using Maker Vaults but don’t want to involve KYC processes.
- PSM was delayed. Speaking with Paxos, Binance, and Gemini to continue business negotiations.
- Will be working with partners to discuss why they are not using Maker Vaults.
- BlockFi will be giving an 8.5% yield in Dai through July 30!
- We are approaching Gnosis about Maker Vault integration.
- Planning an event in Paris on July 21 for MakerDAO. If you will be there, reach out to get involved.
Sustainable Ecosystem Scaling
- Our team’s MKR Compensation Budget proposal passed.
- Potential Budget Modification for grants and/or incubation program on its way.
- Project Sandbox meeting, which helps improve protocols, happened last week.
- Project X-Ray happening tomorrow, which helps set up CUs through onboarding.
- Incubees DTalent and dUX are now live! Reach out for help if you need it.
- Working with Dai Foundation on potential MIPs.
CU Launch Pod Session with AmaZix Marketing CU.
MIPs Weekly Update #42
- All of last month’s Ratification Votes passed.
- This week is a gap week.
June’s Governance Cycle
- Had our first month using the new Governance Cycle, which went well.
- We saw some proposals stay below the 10,000 MKR threshold, being passed last minute.
Other Presentations and Updates
- Discussion going on concerning the pros and cons for delegates becoming mandated actors and vice-versa.