[📄] Collateral Onboarding Call #19: B.Protocol + WFIL.network - Tuesday, December 8th 19:00 UTC


Time in your local-timezone format:

2020-12-08T19:00:00Z

Dial In Details

Zoom Call

Passcode: ONBOARD

Intro

After the presentation on the Community Call hosted by @david and a much discussed forum post, join me and the B.Protocol team in another collateral onboarding call, where we discuss potential assets for MCD and potential integrations for DAI’s supply and demand. Open for anyone to join.

If you’d like to present, check out this thread.

Agenda

Intro

by @juanjuan

B.Protocol

by @yaronvel and @eitan_katchka

  • B.Protocol: a quick overview
  • WBTC-B proposal: all the details
  • Addressing concerns and risks
  • Q&A

Material

Wrapped Filecoin

https://wfil.network
For those that want to stay after B.Protocol, @naszam will be quickly presenting his MIP6 application, (greenlight planned for December 14th).

See you there!

attn: @amyjung; @blimpa ; @overanalyser ; @Primoz ; @g_dip ; @akash ; @g_dip ; @ElProgreso ; @Planet_X; @iammeeoh ; @prose11 ; @Aaron_Bartsch ; @zenithlight ; @Jiecut ; @alexis

9 Likes

Thanks for the invite! Unless something terribly unexpected comes up I’ll be there. Don’t think I’ll have anything to present, but headed to the thread now to check it out and review the 10x WBTC one as well. Is there a way we could send over any questions we might have before the presentation so we don’t eat up as much time bouncing back and forth between (potentially) unrelated lines of inquiry?

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It would be great to post the questions here on this thread (or any feedback on the proposal or anything related to B.Protocol that we can address during the call).

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Awesome, will do my re-reading today to make sure I’m not asking something that has been answered already and come back with any remaining questions. Thanks for bringing this proposal with @yaronvel and being so accommodating with the various levels of community understanding.

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Alright came to a few questions after poking around:

  1. Is there a point where the leverage offering isn’t worth the squeeze for B.Protocol? From the thread on the initial proposal @yaronvel mentioned that in CeFi 100x leverage is a thing so you weren’t as worried about 10x. It seems like there are a few limiting factors for the Maker Community, namely keeping the 13% liquidation fee and avoiding wading into over-leveraged vaults. Would something like a 120% collateral requirement be exciting enough for your team?

  2. From this report (https://businessblockchainhq.com/business-blockchain-news/makerdao-loans-can-be-gamed-to-hold-out-funds-from-liquidation/) and some postings on B.Protocol’s Medium it’s clear why doing things with the B.Protocol backstop makes a lot of sense for Maker. What about the lost revenue from liquidations though? Would Maker benefit from the liquidation profits from B.Protocol’s keepers? Under the ETH arrangement, it makes sense to give these up completely, but if we are providing collateral from the Oasis platform I think it makes sense to be compensated somewhat for the extra liquidation profits we would be bringing to the table.

  3. We touched on the idea of using ETH on the original forum post, how much value do you see from B.Protocol’s side with adding another asset and are adding some more valuable than others from your prospective? Assuming the Maker Community is fine with adding another asset under B-Protocol’s liquidators and the risks that brings, could we test the additional leverage with something like BAT that is tremendously underutilized compared to our DC?

Sorry all that is so unrelated, if it’s more helpful to answer these outside the presentation feel free to do so!

3 Likes

For those who want to stay after B.Protocol, @naszam will be quickly presenting his MIP6 application after.

See you later.

2 Likes

Thanks @juanjuan for having us yesterday.
For those who have missed the call, you can watch the recording on the MakerDAO YouTube channel here -

Please share whatever questions you might still have on the proposal post on the forum here -

2 Likes

I really enjoyed the call and as someone who went in being worried about the risk and implementation, I can confidently say this presentation convinced me that this is the direction we should be moving (at the very least) at a relatively small experimental scale. By setting the initial DC at $5M and seeing how it handles these leveraged options for users we can get some good data and (I suspect) show there are more efficient ways to handle liquidations.

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