[Agenda/Discussion] Scientific Governance and Risk #159 - Thursday, September 16 17:00 UTC

Agenda

The zoom waiting room will be on, and a password is set to: 748478, please ping us in the #governance-and-risk chat if you aren’t let in from the waiting room. This Agenda will be updated over the following week leading up to the call as people make me aware they want segments.

2021-09-16T17:00:00Z

Continuing with our adjusted format this week in an attempt to curate a more engaging and deliberative meeting.

Introduction

Governance Round-Up

Selected Updates / Discussions

Other Discussions and General Q&A

  • An anonymous Question Box is now available! Leave your question here and we’ll try to address it. Comments on new meeting structure welcomed and encouraged!
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G&R #159 Snippet

This snippet includes Governance, MIPs, forum updates, and Core Unit team discussions from the MakerDAO Governance and Risk Call #159.

General Updates

Votes

Polls:

  • Onboarding GUNIV3DAIUSDC1-A Vault - PASSED
  • Offboarding KNC-A Vault - PASSED
  • DC-IAM Parameter Changes for PSMs - PASSED
  • 2 Greenlight Polls active (voting ends Mon. Sept 20th)

Executive:

  • Executive Proposal - Tomorrow (2021-09-17)
  • Will Include:
    • Onboarding GUNIV3DAIUSDC1-A Vault
    • Offboarding KNC-A Vault
    • DC-IAM Parameter Changes for PSMs

MIPs

Weekly MIPs Update #53

  • The Ratification Polls for September’s Governance Cycle just went live!

Forum at a Glance

Forum at a Glance: September 10th - 16th

Team-led Discussions

Rocket.chat Migration

GovAlpha & Content Production

  • General sentiment in favor of Discord.
  • Other options discussed are using Slack, creating another Rocket.chat, and etc.
  • Trying to decentralize it as much as possible with a few admins in charge of backup files.
  • Figuring out which handles are most appropriate for CUs and topics.
    • If anyone has any ideas or personal preferences, reach out to Long or Seth.
    • Long will publish a post on this sometime next week.
  • Looking to create NFTs to distribute to everyone who has participated in Rocket.chat.

Organizing Permissions:

  • There is a potential verification method through Metamask and MKR tokens.
    • This comes with issues for non-MKR holders.
  • Another method is to set up DAO-member roles with familiar faces.
  • Easier to moderate specific channels rather than the entire Discord account.

L2 Updates and Plans

Protocol Engineering

  • Current work on L2 makes sure that we get Dai on Arbitrum, which has publically launched over two weeks ago.
    • So far has attracted 5 billion of capital.
    • Roll-ups are cheaper and as safe as Ethereum; therefore, they are very efficient.
  • Goal is to bridge Dai in a way where we can mint Dai and have it fungible with bridged Dai.
  • Should see Dai on Arbitrum next week!
    • In the final testing phases.
  • Implementing Dai Fast Withdrawal Bridge (FWB) is more complicated.
    • Working with the Oracle Core Unit.
    • Will be the only FWB that isn’t constrained by liquidity.
  • Setting up discussion around Starkware support regarding ZK Rollup.
    • Goal is to launch by the EOY.
  • Working with various teams on bridges
    • Working with HOP Protocol.

Presentation

Voting Portal Updates

DUX Team

  • Team Mission: enabling the best-in-class decentralized decision-making for the maker protocol by providing meaningful UX for all gov participants.
  • Will have a podcast call going over the team vision on September 22nd.

Demo:

  • Main feature is Delegate statistics.
  • Sorting order is currently randomized.
    • Something we will look into.
  • Provides participation and communication scores by GovAlpha.
  • Shows their supporting executives and entire vote history.
  • Delegates can provide their bio, stats, and additional info.
  • Each poll contains a discussion link.
  • Delegate contracts expire after one year; this information is now shown.
  • Now offers a visualization of the vote breakdown:
    • Who votes
    • What they vote on
    • MKR amount voted
    • % of voting power
  • Also offers more macro graphics showing the size of everyone’s voting power.
  • Every address contains a profile page.
    • Offers polling history plus more.
  • Also contains small UI and optimization features.

Future Work:

  • Details on where MKR comes from (cold wallet, etc.)
    • Provide a breakdown for voting weight through etherscan.
    • Provide more overall context.
  • Want to add the Delegate’s voting weight over time.
  • Poll comparison compatibility page between addresses.​
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Episode 159: September 16th, 2021

Agenda

  • 00:04: Introduction
  • 00:58: Votes and Polls
  • 02:23: MIPs Update
  • 05:06: Forum at a Glance
  • 09:02: Discussion - Rocket.chat Migration
  • 25:20: Discussion - L2 Updates & Plans
  • 47:38: Presentation - Gov Voting Portal
  • 1:08:28: Conclusion

Video

https://www.youtube.com/watch?v=r3q6YH__FOA

Introduction

Agenda and Preamble

Payton Rose

00:04

  • Hello, welcome to the MakerDAO Scientific Governance & Risk Meeting #159 on Thursday, September 16th at 1700 UTC. My name is LongForWisdom at MakerDAO, and I am one of the Governance Facilitators at MakerDAO.
  • We like people to get involved and ask questions or comments, so please, do not be shy if you have something to say.
  • We have our newly improved agenda, which will open to discussion around certain topics following our general updates.

General Updates

Votes

00:58

Payton Rose

Polls:

  • Onboarding GUNIV3DAIUSDC1-A Vault - PASSED
  • Offboarding KNC-A Vault - PASSED
  • DC-IAM Parameter Changes for PSMs - PASSED
  • 2 Greenlight Polls active (voting ends Mon. Sept 20th)

Executive:

  • Executive Proposal - Tomorrow (2021-09-17)
  • Will Include:
    • Onboarding GUNIV3DAIUSDC1-A Vault
    • Offboarding KNC-A Vault
    • DC-IAM Parameter Changes for PSMs

MIPs

Pablo

Weekly MIPs Update #53

02:23

Forum at a Glance

Artem Gordon

05:06

Post: Forum at a Glance: September 10th - 16th

Video: Forum at a Glance

Team-led Discussions

Rocket.chat Migration

GovAlpha & Content Production

09:02

  • The foundation can no longer maintain the RocketChat that we are currently using for our community chat.
  • We are working on figuring out migration from RocketChat to Discord.
  • The general sentiments seem to be in favor of Discord. We have other options that have been discussed, and they include KeyBase, creating a new RocketChat, even using Slack or other tools like Matrix and Workstorm.
  • Most people have Discord handles and are used to interacting with Discord, which seems to be the general favorite at the moment, but there have been valid concerns raised about difficulties around moderating discord servers and preserving the culture that we have cultivated in RocketChat so far.
  • The plan right now is that TechOps will handle the setup, implementation, administration, and moderation will be somewhat decentralized much as possible.
  • Discord lets admins create backups of discord servers as long as we have a few admins who can maintain those backups, and I think that addresses any concerns around decentralization.
  • We are still working on which channels we think are the most appropriate. We covered most of the obvious ones you would guess so far, you know, general random channels, specifically for core units, both public and private, but if anyone has private chat channels that they would like to see, please reach us.
  • GovComms has volunteered to help collect Discord handles. We like to try and get as many people invited so that we can make the transition as smooth as possible.
  • We are looking into creating some NFTs to distribute to everyone coming over who has participated in RocketChat previously. We are talking with Pope about distributing those.
  • Comments, questions, concerns, or anybody strongly opposed to using Discord, please feel free to raise your hand.

Questions

  • Q: We need to research how to deal with bots and scammers. I am not sure if there is any other software or techniques, but others have raised that in the past.
    • A: It is something we are aware of. I have started using Discord for Crypto a few months ago, so I have been thinking around all the other channels and stuff. Seem to be a sort of fairly standard mechanism to s=prevent access to channels like gated with captures and stuff, hoping that will keep most of the bots out of the channels.
  • Mario (chat): If we have considered other options like Matrix, and it is on the list we have considered, I like it as a backup platform.
    • A: Many people like the idea of Discord, like the primary platform, because lots of other people are there, generally accessible to everyone, and people are familiar with it. Matrix is much more decentralized than Discord, and it does not have a centralized operator, and it would be good to have a backup that is more decentralized in case something happens with Discord.
  • Q: I assume there is a programmable API for Discord; I have only never used it as a user, but if there are concerns about bots, I assume that we will be able to implement things like chat OPS where we get alerts and whatnot from either let’s say the forums or from stuff we check on-chain or whatever and maybe even we can take actions from the chat channels.
    • A: Not sure if anyone has built any blockchain compatible bots, so that would be interesting.
  • Q: What is the time frame or next steps? When do you think we will have the Discord channel enabled? What are the plans to integrate? Other CoreUnits have their servers, and are we planning to integrate, or will they be independent?
    • A: We are working on the channel and permissions as roles are set up. That will take a few weeks to take off, set it up and get it going. We hope to start migrating people two weeks before RocketChat shuts down to have a nice buffer in case anything goes wrong or we have issues.
    • I will make a forum post with details of the channel and role setup we have in mind for comment before we do it.
    • In terms of the core unit question, one of the things we will do is provide channels for all core units in the main Discords like there will be public versions. There will be public versions and private versions. There are some questions about whether we could bridge the public ones to other discords if the core units have their own, which I think is doable.
  • Q: I know we are exploring some of the role attributes and permissions facing a few challenges there. I do not know if it is worth bringing up, but I am curious if we have thoughts on how we will be organizing permissions within the channels. I saw the pleaser DAO, the DOG, NFT, whatever token DOG. You could get verified by connecting your Metamask wallet to the Discord channel; all you have to prove is that you own dog tokens, and your username changes colors. That is something that we might be able to do.
    • A: That is an option. We want to be careful as to what our goals are when we do that to prevent spam. I think there are better ways to do that. I think we are already planning to have a role for people who have been in the DAO for some time.
    • There will be a DAO member role that contains all the delegates, all the Core members, all the regular and familiar faces.
    • We could also have that based on MKR, but I think using the token setup as an antispam thing may be bad because you will have some subset people that just do not want to think like Metamouse to Discord in any way. Some people do not own MKR but have valid things to contribute to the conversation or forum.
    • Having antispam would be bad in terms of “hey, this person owns some Mkr.”
    • There are stakeholders in our ecosystem that might not be Mkr holders that we should let in our communication channels. I do not agree with the whole Mkr chat channel for everything, and it may be as a dedicated chat channel like Long was saying, but I am not sure what the benefit is.
  • Q: It was displayed the way that we have badges in the forum. I think it would be cool just as an extra - this person is verified. The main challenge is that we want to assign people to be moderated to specific channels rather than just moderating the entire Discord and figuring out the system. Discord only lets you assign mode permissions by roles; there is a little bit of weirdness about creating a hierarchy that lets people moderate specific channels but not others.
  • Q: Has anyone thought about the jurisdiction where the main server would be hosted, subpoena compliance, that sort of thing, log retention? That is the thing with Discord; you do not manage any of the server stuff yourself; it is just hosted like Discord.
    • A: This is one of the reasons I want the decentralized backup.
  • We have to discuss the potential of liability that admins and admins might be taking on and if there is a way to, I believe Long found there is a way to designate the server owner. We are figuring out how to delegate the Dai foundation, which would certainly be preferable.
    • I think we needed a foundation-owned account to create a server and assign the first tech Ops guy as an admin, and then we should be fine.
  • Maybe write down on Discord and migration, as I said. I will post on the forum with a breakdown of the proposed channel setup and roll set up for comments by the end of next week.

L2 Updates and Plans

Protocol Engineering

Bartek Kiepuszewski

25:20

  • The current work on L2 is making sure that we get Dai on Arbitrum as soon as possible. You might have seen the post in the forum: where Arbitrum Launch opened up to the public around two weeks ago. Last week we saw some farms opening up. It attracted an avalanche of capital flowing in. The last I checked, it was around 2.5 billion. It points to our thesis that we might end up in a world where much collateral flows into these roll-ups sooner than we think. People will want to do stuff on the roll-ups and live because they are cheaper and safe than Ethereum. We have been trying to work for our Bridge Dai Team to bridge Dai. We want to do it so that it will be possible to mint Dai directly on L2 in the future. That minted Dai will be fungible with the Dai that we bridge. That requires a custom gateway. To do that, we spent a lot of time with the teams, at first with Optimism and now with Arbitrum, to convince them that this is the right approach and to implement it. It does take some time. However, I am happy to say that we will hopefully see Dai on Arbitrum next week. We are close to having that work done. We are at the final phases of testing.
  • The next logical step for us for both Optimistic roll-ups, Optimism, and Arbitrum, is to start implementing the Fast Withdrawl Bridge (FWB). This is a little bit more complicated. We are doing this together with the Oracle Core Unit because we need their support to make it happen. Once that is done, we will have the only FWB that is not liquidity-constrained. If you are interested in how it works, I have published with Derek a post in the forum about this a few months ago. This is the exact design that will be used, and given that there is so much capital right now in Arbitrum and possibly very soon in Optimism, we think it will allow the Protocol to provide some liquidity for all these liquidity flows. We are super excited about that.
  • The third thing that we are doing right now is to help the discussion around the Starkware Net Support. It is another roll-up that has not been launched yet, but it is much more complicated. It is a ZK Rollup. When it launches by the end of the year, we want to make sure that we are ready, especially from the engineering point of view. We need to understand this and do more or less the same things that we are doing for the Optimistic roll-ups. To this end, there is a small CU that will focus exactly on this. They have a very small mandate to research and implement the same bridge we have done for Optimistic roll-ups but on the ZK Rollup.
  • We have also been working with teams doing bridges, like HOP Protocol. We want to explore with the HOP Protocol can use Dai liquidity. Right now, this is one of the only ways to move your funds quickly from roll-up to roll-up. You can also use Connext or use a Celer Bridge, but all of them require liquidity. Every Protocol will be liquidity-constrained, and we can try to provide this liquidity as a short-term loan.
  • These are probably the main four workstreams that are keeping us busy.

Questions

30:27

  • David Utrobin: There are all of these L2s coming to an end, and I know that not all of them will gain their fair share or expected market share. How do you weigh or decide between the priorities of the different L2s that you are working on? For things that are not in existence yet, like Starkware. What other information gives you enough conviction to go after the huge undertaking of building with Starkware?
    • A: It is a judgment to be done on which team and roll-up will be potentially the most successful in the future. You want to place your bets wisely. The main criterium is the risk factor. We are helping how to educate the whole community about the risk. We want to ensure that the Dai you put on the roll-up and take it back is as safe as on L1. That is why we are excited about the roll-ups. With our bridge, and for other chains, like Polygon and Avalanche, we think that the current approach of the Growth Team and other teams, which is to simply use their bridges and wrap Dai into a wrapped Token, is workable. We might change our approach in the future, but that should work fine. We think that with the security of the roll-up and the quality of the team comes the conviction that this roll-up is safe and people can do stuff on it safely. This is what we saw on Arbitrum. A less accomplished team could not have pulled it off. We follow the quality of the roll-up, the reputation of the team, but also liquidity. We have to chase liquidity, which is the major factor. The two combined give us a good picture. This is why we helped to create L2Beat to track both liquidity and risk. Arbitrum and Optimism are probably the leaders right now in the Optimistic roll-ups. With ZK roll-ups, the Starkware is a matter lapse with ZK Sync and Aztec. These three are top-notch teams that are leading the pack.
  • Q: I hear you talking about L2s, and I know people are focusing on this for many different reasons. I do not necessarily see sidechains going away, and they can complement the entire ecosystem. We can debate this security, etc., and I do not think this technology, this Starkware Net applies. Is there a way to be the Dai Bridge from L1 into the sidechains to provide the base-level Dai security and cross-bridge between the sidechains?. Make Dai ubiquitous, in and through, in some ways we could capitalize on the side chain aspect? I wonder if this is applicable.
    • A: This is an important consideration for us. Sidechains are not being equal. The main problem that we have now is that the sidechains break the whole security framework of Dai, which is minted on Ethereum. If we think about minting Dai on other chains and that Dai has a very different risk, it may be a different token. Being able to mint Dai on the sidechain says that this Dai is riskier than Dai minted on Ethereum. Because apart from the usual risks like the collateral and whatnot, it will have some additional risks related to how this sidechain is secured and how this bridge is secured. It is possible to mint Dai on sidechains. However, we need to develop the Sharded Vault Engine, a complex core system design that will contain this risk and create a local DC for a sidechain. It is possible. We are not ready yet. We assumed that for sidechains, we accepted that people would be wrapping the Dai, which is minted on L1. Our approach is to mint Dai on L1 and rapidly move it to the sidechain to use it. If you wanted to mint Dai on L2 and still want Dai to be the same, meaning fungible, suddenly you would have to manage the risk of Dai minted on the sidechain to be less secure. We are thinking about it. If you look at the multichain strategy forum post, but it is hard. Think about a simple use case: you go, for example, to Polygon, you mint hundreds of millions of Dai, and you want to set bridges back to L1. Where does this Dai on L1 come from? The one that you have to mint so you can bridge it to L1. You need to be able to solve this problem first. That is the mental model that we have got. Think about going to a sidechain minting a ton of Dai there and immediately bridge it to L1. That is the scenario we have in mind when we think that Dai should be fungible. Otherwise, it is just a different Dai. There is Dai on Ethereum; there is Dai on Solana. It is a different Dai, a different Token.
  • LongForWisdom: Are you prioritizing the L2s versus the side chains?
    • A: First of all, L2s are more secure. Secondly, we do not have to think about the bridge because it is completely permissionless for the roll-ups. We are prioritizing the fast withdrawals, which can be done only on the roll-ups, which we are trying to do. This Sharded Vault Engine depends on the community and how we prioritize that. It is a complex design, a lot of work. Maybe there are some other priorities that we have to take care of first.
  • Q: We at the DUX Team have been thinking about ways to improve the Governance experience. One thought is reducing the cost of voting and participation in Governance. How could we leverage L2s for Governance?
    • A: We have not been thinking about it. Right now, our primary concern is to make Dai available, but I see no reason why we should not think about it. If you have got the EVM-compliant L2, it would be easy to have a much cheaper voting system. Optimistic and ZK roll-ups can be used to this end. You should give it a try, and if you need any guidance from us, we are ready to help. Arbitrum and Optimism roll-ups are ready to do it, and ZK roll-ups as well. It should not be hard. Maybe a year ago or a bit longer, in the Foundation, we had several sessions with the Starkware Team on pushing voting off to Starkware. Voting was getting expensive, and we thought it would help participation. There is a design on how to do that, but part of that design was leaning on DSS-Gov as having the newer Governance Module for that to work. It became a use case of delegation. Maybe we can shoehorn the delegation we have together with the old design, and it might work.
  • Q: Do we prefer to mint Dai on L2 or vote on L2 first? Is it our goal to have the inclusion of Dai, which we could do with bridges? To me, the voting aspect may have as much value on L2 and having inclusion of other MKR holders as the ability to mint Dai on an L2.
    • A: The version of the delegation that we pushed mitigates some of the voting concerns that we were having regarding participation in gas. We bought ourselves a little time to recapture the users who could mint a 20 Dai Vault or 100 Vault by moving over L2s. Because the dust limits there would be so much lower, it is a higher priority for us to do the Sharded Vault Engine or move MCD and deploy it to Optimism and Arbitrum instead of solving this voting issue. We already have mitigation.
  • Frank Cruz: The recent issue with the outage on Arbitrum was because there was a large burst of transactions in a short period. Is that something we can expect? In Optimism? How long before? Is that something that will improve over time, or do you expect more development to happen before we can get 400000 transactions per second?
    • A: You take these 400 000 transactions per second from the Solana crash. It was the number of transactions in the mempool, not the ones processed by Solana. There was a misunderstanding here. What happened for Arbitrum was not as serious as people think because it was just the Sequencer that was overwhelmed. The roll-up itself was chugging along correctly. All the contracts on L1 and all the funds were safe, and if people were desperate, they could push their transactions through because there is a backdoor on that contract that allows them to do so. This backdoor was created because the Sequencer may censor some users, or it may go down for some time like it happened yesterday. The good thing is that the roll-up did not stop. That is the beauty of the design. The Sequencer is to helps with the UX and makes sure that everything is faster for the end-user. However, the roll-up security is implemented inside Ethereum smart contracts. It is upgradable, and it has got training wheels. You can always overlend Sequencer. It is a centralized service. They have to harden it to make it stronger, and they will be able to do so with time. Because it is centralized, they can make it much harder. Even though Sequencer is centralized, the funds are safe, and they can not do anything to steal them or whatever. That is the whole idea about roll-ups. I cannot tell you if such an outage will not happen again. It is possible, and it is not up to us. It does not change our perspective on the risk. It would be much worse if the sidechain went down, then we would not know what to do. Roll-ups right now it is sharding. It is horizontal scaling and not vertical. We might expect to have many different roll-ups, and this is how they are going to scale. The traffic will be spread out between roll-ups, so people playing games might have their roll-up, people collecting FTs they might have their roll-up, and DeFi might end up on one of the roll-ups. You will not see such huge spikes in gas fees because there is another NFT drop.

Presentation

Voting Portal Updates

DUX Team

47:38

  • I will give a quick demo of some of the features that we have been working on. I am Phil Bain, the facilitator for the DUX CU. Before that, I was a foundation member, and I was a developer for two years, working on many of the front-end projects.

  • We recently split off and formed a team which is the DUX Core Unit. We are focused entirely on Governance and Governance UX. Whereas before, the foundation had a front-end team that was responsible for a lot of different applications. We can focus on a single domain and devote our resources to creating the best governance experience possible. Next week we will be doing a launch pod call to introduce the team and the team mission and vision. For now, we will stick to some of the features that we have been working on for the past few months since we started.

  • I want to give a big shout-out to our team. We got a lot of talented people here. Four developers: Tyler, Adam Rafael, and myself. We have a designer Tiago and a Product Manager Deniz. Deniz joined us recently, and we are excited to have him.

  • You have our contact information, and we want to hear from you. We have been doing interviews with some delegates, and we want to get a sense of how you are using the Portal, what can be improved, and where we can go from there. Please join our Discord or drop some ideas on our Idea Board. I will post these chat links on the chat later.

Demo:

  • Due to the nature of the permissionless design, anyone can become a delegate. There is an ability in the UI to set up a delegated contract to become a shadow delegate.
  • To become a recognized delegate, we have people that apply and agree to the code of conduct that GovAlpha has put forth. Recognized delegates get priority viewing in the UI, and they get more details. We have a list of delegates.
  • One thing to note is we do not play favorites. Anytime you visit the page, the sorting order gets randomized. That way, there is not always the same person at the top who gets all the delegated MKR because people are too lazy to go to the next one.
  • When you look at these cards, we have been trying to display much important information for the users. You can see how much MKR was delegated to a particular delegate, how much is delegated by you, the participation score, and the communication score. GovAlpha provides these scores. We pull in their data into the UI and present that on the card here. Another nice feature of the card is that you can see what executive they are currently supporting. You can go through and check to make sure all the delegates are doing their duty, and they are up to date on the latest executives. That goes for all the delegates. You can also see how much MKR is delegated to shadow delegates, what they are supporting, and so on.

  • We can dive into the profile page of the delegate a little bit. The delegates can all provide bio credentials, which is the benefit of being a recognized delegate. You can provide some external links. We have stats at the bottom to give an overview of the information about this delegate. Along the top, we got some tabs to give you some extra details, and one of the most exciting ones is the voting history page.

  • This is brand new. We just pushed this to our release on Tuesday, and I am excited about this feature. It gives the entire voting history for any given delegate. You can see the poll they voted on, the option they voted for, and you can also give this quick view of how the votes went. The percentage of yes and no. This is a really good way to look at a delegate, make sure that you see what they are voting on, and see if this is somebody you would be interested in delegating to. You can make those decisions based on looking at these data.
  • Each poll has a discussion link where you can join the conversation about this particular poll. One other thing about the delegate contracts is that they expire after a year, and we have the expiration date for people to be aware of what that looks like when this delegate contract was created and when it will expire.

  • Once you look at some of these polls, you can dig into them, click on the poll, and it brings you to the detailed polling page. This page has been around for a while, but we have a nice visualization that we have added to the vote breakdown. You have the traditional vote breakdown: yes, no, abstain, and we also added some new features. There is the voting by address table where you can see exactly who is voting on a given poll, what they are voting on, the MKR amount they are voting with, and the percentage of their voting power (percentage of their total votes). The delegates have their names mapped to the column, and those who are not delegates are also listed.

  • The same data is presented in this Pack Circle Chart, which gives you an idea of the size of everybody’s votes, how people are voting, and the direction people are taking. In a future enhancement, we are looking to give more nuanced detail about this Maker weight. You may know that it is a complicated process to pull in all the different weights with polling. If you have a Vote Proxy, a Hot Wallet, a Cold Wallet, and you have got MKR locked into chief, and MKR that is in your wallet, you have to pull from all these various places to calculate your voting weight, and that could be tricky. If we could provide a breakdown for this, some external links to Etherscan or whatnot, that would give a lot more context for users. The features that we are looking for are things that will help people make informed decisions, and people can look at it and verify things like Maker weight and where votes are going. The idea is that everyone can be an auditor.

  • When you look at the voting addresses, you can click on the profiles, taking you back to the profile page. Every address has a profile page, and we just fetch the data for that address. Like the delegate’s profile page that we looked at, this will give you the polling vote history. You can see this is a regular address of voters, and you can look at all the polling they have been involved in. You can plug your address in there if you want to see your vote history and look at all this data side by side. If I drill into this example, it looks like there is a more interesting vote breakdown to take a look at. Looking at the Pack Circle Chart, you get a sense of who is voting “no” and who is voting “yes.” We have our three biggest delegates and then some shadow delegates. It gives you some context as to the poll, who is voting for and against it. It allows people to dig in and make some better decisions with that data.

  • Those are the features that we pushed up to the release. There are a lot more little features. We have been doing a lot of optimizations. One fun feature that you might have already seen is the Dark Mode. People can vote late at night. We have some new filters. The filters for the polls were not working well, so we added improvements.

Future Work:

  • I want to show a quick preview of some features that we are working on for the future that are not released yet. We will go in line with helping people make informed decisions. On a Delegate Profile Page, we are going to add a voting weight over time. It would be a graph that shows how much MKR was delegated to the person over some time. You can look at whether more people or fewer people are delegating and see the pattern. Eventually, you will decide if you want to delegate your MKR to this person or not based on these trends.

  • Another feature that I am super excited about is a Poll Comparison Compatibility Page. We will compare two addresses to show the user their compatibility with any other delegate by comparing everybody’s vote history. In the example, we see that we voted the same on this poll, on this poll, but on another poll, we differed. By taking that data and comparing two different vote histories, we can create a Compatibility Score that we could potentially add to the page so that people can look who the delegate most represents their similar interests.
  • Those are features that we are interested in digging into. We want to figure out ways to verify the displayed data and allow people to make informed decisions about how they vote and or whom they delegate to, etc.
  • I believe that is all I was going to show so we can do a little QA. If there is time for that, I am willing to take some questions.

Questions

  • Q: Are there any difficulties in visualizing rank choice polling at all that you have come across?
    • A: We have done for that is just show the option they voted for and the winning option. We did a little manual workaround to get the ranked-choice ones to work with the voting history page. There is probably some more research we could do, but we wanted to go for the quick win of the plurality polls. I do not see any in this person’s history, but we would just show the winning option and the option they voted for on this page here.

  • Max (from chat): What percent of MKR is delegated? What percent of MKR is voting?
    • A: We have that in our system stats, and it is marked as total delegated, and I do not know the percentage of the total extent MKR. Still, in this case, we have 73 000 over seven recognized delegates and six shadow delegates.
  • LongForWisdom: One thing that I would also like to see is the number of addresses delegating. So you can see how many larger and smaller people using the system
    • A: That is another feature in progress and something similar to that pack circle chart. You could look at a delegate and see all the people delegated to it and how much MKR they are delegating to this delegate. We have some of that in progress as well.

  • Burban: Has the team been thinking about any notification service that can help voters with their experience.
    • A: We have had opened up some talks with Ethereum Push Notification Service if you are familiar with what they do. There are different ways of doing it, but they are working on an integration for us right now. We had got some demos from them the other day. One potential way would be: when a new poll is created, a new executive is created, or a poll is about to end. These are some of the events that we have talked about with them about recording. It is a third-party thing, so you have to download a plug-in for your browser. They have an API too, but that would require more work on our side. We are looking into getting this very basic EPNS integration done soon. If it looks good and we approve of it, we will push it out and share it.
  • David Utrobin: I am curious if any more thought has been given to the comment feature. I know it came out for Executive votes, and it is sparingly used. Can we get it to Governance polls? Where are we at with that?
    • A: That is an interesting question that has come up a lot in the interviews with some delegates and other holders. Communication, in general, seems to be something that is closely tied to this, and it is hard to integrate with. We do not have any specific plans for integrating the comments into the polls. Still, it is something that we could talk about put in our roadmap. Our product manager Deniz is currently working hard on developing our roadmap and helping us put together a backlog. Come to our Discord or Frill page for people who have feature ideas, and feel free to contribute those. We have no plans for that, but if it is something that people want to see, we will look into it.
  • Q: What about governance effectiveness? Do you have any idea of building metrics that can track the effectiveness of Governance or wallets within it?
    • A: That is a great question. It has come up in our brainstorming. We do not have any concrete implementation for that. We do have these participation metrics. That is not exactly governance effectiveness, but it is delegate effectiveness, and these come from GovAlpha. We talk a lot about how your vote impacts the future, how we can get those statistics. For example, one of the things that we will add soon is these on-chain effects feature that shows you the effect of an Executive vote and how that would affect the Protocol. We have been working with the token flow on this; Finding ways to measure that impact over some time would be awesome and something that we want to do. We have not had much real technical research into it, but it is definitely on our priority list. But the impact is one of the best ways to drum up enthusiasm. It shows where your vote goes and what your vote did and makes you feel that you are having an impact when you are voting. Anyway, we can display that and measure that for the user. I think it is really powerful. So definitely expect something along those lines in the next year or so. I cannot give you a timeline.

Conclusion

LongForWisdom

1:08:28

  • Thank you very much. We appreciate the walkthrough. It is looking better and better every day.
    • Phil Bain: There is a CU Launch Pod Session coming up with the DUX Team next Wednesday, and we will do more of a deep dive into the team and our mission vision strategy.
  • The DUX Core Unit is also up for voting now.
    • David Utrobin: There might be people in this meeting that were not here last week. You just sat through a different formatted G&R call—just a quick note on that. We are moving away from doing general team updates on this call. Transparency is very important, but this is not the format for it. Teams will not be doing those. We recommend that teams post written updates on the forum for reference, for completing information, and it is the easiest format to do it in. These calls are now going to be way more engagement than discussion-focused.
    • Juan Guillén: I posted the calls that SES will be having, which are not a few, and I do not know if the Summaries Team can pick those up so that they are a little bit more shield. Thank you to everyone.
  • LongForWisdom: Thanks to everyone for coming. I will talk to you all next week.

Suggestion Box

Common Abbreviated Terms

CR: Collateralization Ratio

FWB: Fast Withdraw Bridge

DC: Debt Ceiling

ES: Emergency Shutdown

SF: Stability Fee

DSR: Dai Savings Rate

MIP: Maker Improvement Proposal

OSM: Oracle Security Module

LR: Liquidation Ratio

RWA: Real-World Asset

RWF: Real-World Finance

SC: Smart Contracts

Liq: Liquidations

CU: Core Unit

Credits

  • Artem Gordon produced this summary.
  • David Utrobin produced this summary.
  • Kunfu-po produced this summary
  • Andrea Suarez produced this summary.
  • Everyone who spoke and presented on the call, listed in the headers.

This full recording is now available on the MakerDAO Youtube channel: