Thanks for applying. Always appreciate your humor and interesting insights!
I don’t know you, but I can tell you love what you do, and that says a lot about you. Good luck!
Thank you Doo—you’re selection is impeccable.
Gracias primo—hopefully you’ll be inspired as much as I am!
@ElProgreso When discussions in the forum go in a different direction and lose track, you remind the community repeatedly to look at a bigger picture. That is very important when it comes to critical decisions and setting direction for MakerDAO.
I see this as one of the critical criteria for delegates. Honest discussions, feedback, and exchanges need to take place to ensure we communicate effectively. That’s how we can get better at what we do.
Your positivity and dedication are very much appreciated.
Consolidating the Current Polls and Executive Vote for the week of August 9, 2021 from a VLOG Forum Post to my Delegate Platform: [Delegate VLOG] Flip Flop Flap Delegate MKR Vote
Current Polls for August 16, 2021
Governance Poll: Onboarding PAX Peg Stability Module - August 16, 2021
Voted Yessss—for one, the Growth CU team has work relentlessly to make this deal come into fruition. I fully support their vision and desire to grow the supply of DAI. This will also diversify DAI collateral and provide some comfort to those that worry about the Maker’s exposure to USDC.
Governance Poll: Reduce Vault Liquidation Ratios - August 16, 2021
Voted Yessss—The Risk CU posted an analysis on decreasing liquidation ratios and the Community did not object. Using their Risk Models, the ratios were battled tested, and I believe this is the right approach. I do hope that eventually the Maker protocol will be compensated a bit more for all the Risk it takes.
Community Greenlight Poll: CNC1-DROP (CapitalNow Cannabis DROP) - August 16, 2021
Voted Yes—this company has underwritten over 85,000 transactions and has 13 years’ experience in this field. You couple that with the fact that that more American voters and state legislatures support the approval of either medicinal, or adult recreational use of cannabis—I believe this is a sector Maker should consider.
Governance Poll: NCP01-DROP (Nebula Capital Partners DROP) - August 16, 2021
Voted Yes—if you didn’t get a chance to watch the Collateral Onboarding Call with Nebula and the folks from Tinka I strongly recommend you do! Impressive Teams, and a promising product (Tinka)—this as I like to say, is a no-brainer. Not to mention that NCP has Skin in the Game!
Community Greenlight Poll: CGFF-DROP (Cauris Global Fintech Fund DROP) - August 16, 2021
Voted Yes—another RWA candidate that will have skin in the game as they will invest in a significant amount of the TIN tranche to show confidence in the pool via a “Debt Venture Fund”. They are also on a mission to close the gap on financial inclusion for medium and small businesses. I believe this is where MakerDAO can showcase its goodness and love for humanity.
Vault Onboarding, 6s Updates, and Reducing Vault Liquidation Ratios - August 20, 2021
The long-awaited debut of the 6S RWA DC increase is now here and I believe the community will vote “Yes” and pass this Executive with flying colours. It’s been a long road for 6S Capital, as they patiently orchestrated their quest to becoming Maker’s first Delaware Statutory Trust structure for RWAs. Looking forward to following developments closely and voting on future LendCo’s that follow the same path.
The Risk Core Unit presented the community with an analysis for decreasing LR only for second tier vault types by 10%, and decreasing LR for leading vaults. The community, including myself did not have any objections, as most of us believe this is a positive in case of a Market drawdown (particularly ETH) – Vault owners will appreciate the lower LR.
The community opine via a Signal Request that the PSM-USDC-A Fee-In (tin) will be increased from 0.1% to 0.2%. I agree–and believe that this tool is an important backstop for controlling the DAI peg.
2 Polls - Ending September 2, 2021, 16:00 UTC
Lower the Flash Mint Fee (toll) to 0% - August 30, 2021
Signal Request created by @hexonaut showcases in my opinion, as well as the majority of the community opinion–that lowering the
toll to 0 provides benefits to attract more usage of the module. Voted, “Yes.”
Add RWA007 (SolarX) as a new RWA Vault Type
In what I personally consider an early probationary period for Recognized Delegates, this in my opinion has been our toughest Poll since seeking tenure as a MakerDAO Delegate.
Its comprehensible that Delegates and most of the Maker Community lack, or retain a background/experience in Project Finance. Therefore, I believe its my responsibility as a Delegate to put in the time and effort to investigate as much as possible–the “dealings” pertaining to this collateral type, and also rely on the much needed guidance of our RWF CU.
After numerous hours of reading, researching, and asking questions–I believe that this project has infinitesimal downside and a much greater upside. While no business wants to lose 3,285,000 DAI–Delegates and the Maker community expect SolarX @Andy.SolarX to provide a Trust Structure that is acceptable to MKR token holders, before this MIP6 Application goes to an Executive Vote.
Parameter Changes, September Core Unit Budgets, DssVest Streams - September 3, 2021
You love to see it–Executive goes up on a Friday evening, and you wake on a Monday morning to see it executed. What could be better then that?
- The Flash Mint Fee (toll) will be decreased from 0.05% to 0%.
- The PSM-PAX-A Debt Ceiling will be increased from 50 million DAI to 500 million DAI.
- 2 million DAI will be distributed to the DAI Foundation Reserves Backup Wallet.
- 138,591 DAI will be distributed to the DAI Foundation Operational Wallet.
- 155,237 DAI will be distributed to the Sustainable Ecosystem Scaling Auditors’ Wallet.
Excited to see inception of the DAI Foundation kickstart a long everlasting representation of what DAI stands for–bringing a lot of goodness to the world. You couple that with some parameter changes that I believe will help expand the utility of DAI, and necessary funding for SES growth, this was a “Yes” vote that needed to be placed on a Friday evening.
2 POLLS - ENDING SEP 20, 2021, 16:00 UTC
The protocol went live around April of 2018. Since then they have put in a lot of work and thought into how ART should be represented via NFTs. They have an aim to incorporate NFTs into VR/AR, etc., and the issuance of this DAO Governance token allows SuperRare to follow the path of decentralization. Voted “Yes” and I look forward to learning more about the mechanics behind RARE.
IMO RAI is an asset that can provide Maker another collateral type that allows it to Pivot from centralized stablecoins, and inject exposure to ETH and in the future, stakedETH. Voted “Yes” and I am looking forward for our Core Units assessments of such.
ENDING SEP 16, 2021, 16:00 UTC
Adopt the Debt Ceiling Instant Access Module (DC-IAM) for PSM-PAX-A - September 13, 2021
Voted “Yes”, Myself and the majority of the Maker community agree with adding the DC-IAM gap for PSM-PAX and the suggested parameters by the Risk CU. Really excited to see this develop.
Add GUNIV3DAIUSDC1-A as a new Vault Type - September 13, 2021
Voted “Yes”, adding the G-UNI LP token (DAI/USDC) is a great option that will provide value to the protocol and allow Maker users to benefit from the compounding effect provided from the Uniswap v3 LP fees.
Offboard KNC Legacy Token - September 13, 2021
Voted, “Yes” – In my opinion, the Kyber folks have their hands-full with their own incentive program based on the new KNC Token, and at this stage they don’t have an interest in including DAI in their plans. With only 5 remaining Maker vaults using the KNC-A vault, its best to offboard.
8 POLLS - ENDING SEP 27, 2021, 16:00 UTC
Ratification Poll for RWA Foundations (MIP58) - September 13, 2021
Voted “Abstain” – I believe the community needs a third party legal opinion for the upside and downside of using this structure. That is evident in the Informal Poll that resulted in 44% of the community Abstaining. I myself polled yes in the informal poll, but after thinking it over, I request for more information from both the RWF CU and a third-party expert–on how this tool/structure can be used properly, and what are the downsides and upsides of such.
Ratification Poll for Strategic Happiness Core Unit, SH-001 - September 13, 2021
Voted “Yes” – A Core Unit with an agenda to spread love–what can be better then that!
Ratification Poll for Development & UX Core Unit, DUX-001 - September 13, 2021
Voted “Yes”, I am really excited to have the DUX CU onboarded, much needed and super talented team.
Ratification Poll for StarkNet Engineering Core Unit, SNE-001 - September 13, 2021
Voted, “Yes” – I have ask some tough questions and StarkNet has been kind enough to produce responses-- much appreciated. I want to see this develop and I believe most of the community does as well. However, I do think there might be more questions left that I have not asked, and Both the community and Delegates should ask. This is an exciting new opportunity with challenges, but with challenges, there is also an opportunity.
Ratification Poll for Collateral Engineering Services Core Unit, CES-001 - September 13, 2021
Voted, “Yes”–This is a resilient CU that has iterated on their mission and I believe they will bring in a fresh perspective, as well as new contributors to the MakerDAO ecosystem.
Ratification Poll for Modify Core Unit Budget - Sustainable Ecosystem Scaling (MIP40c3-SP31) - September 13, 2021
Voted “Yes” – Much needed funding for SES as the incubation programs continues to grow, as grants are coming online.
Ratification Poll for Risk Core Unit MKR Compensation (MIP40c3-SP25) - September 13, 2021
Voted “Yes” – The retroactive MKR compensation is well deserve by Primoz and Marko–how many people are willing to perform and not get properly compensated–especially in crypto? Not many. This is well deserve along with the MKR compensation plan.
Ratification Poll for GovAlpha Core Unit Budget Q4 2021 to Q1 2022 (MIP40c3-SP29) - September 13, 2021
Voted “Yes” – The GovAlpha has been working relentless to improve upon the community experience via SourceCred, the Voter experience via the DUX CU, while handing a ton of other responsibilities. Looking forward to seeing what else they’ll improve with regards to Governance.
Collateral Onboarding and Offboarding, PSM DC-IAM changes - September 17, 2021
Voted, “Yes” – Looking forward to seeing if this Gelato product can help reduce PSM-USDC exposure, as well as the offboarding of collaterals that were not producing a positive revenue stream, along with the PSM DC-IAM changes.
2 POLLS - ENDING SEP 23, 2021, 16:00 UTC
Adjusting Auction Parameters for ETH-A, ETH-B, ETH-C, and WBTC-A - September 20, 2021
Voted, “Yes” – new set of auction parameters for the largest vault types will lower market price risk and lead to faster auction settlement of liquidated vaults. Per Risk CU the average settlement period will get cut by approximately 30 minutes–although as everyone here knows–network congestion is more than likely with the increase in market volatility.
Increase the System Surplus Buffer - September 20, 2021
REQUEST FOR COMMENTS – Voted “Yes” as the community has spoken via a Signal Request that Maker needs to increase the Surplus Buffer to 70M DAI to 100M DAI. The option here is for 100M DAI per GovAlpha with the following reasoning, "Only 100m DAI option garnered more than 50% of non-abstaining votes."
2 POLLS - ENDING OCT 4, 2021, 16:00 UTC
Community Greenlight Poll - SB-DDC (Solid Block Detox Digital Coins) - September 20, 2021
Voted, “Yes” – although Greenlight Polls are not helpful in the decision process without the proper guidance and due diligence by Maker Core Units, I have taken it upon myself to research some of the Detox Centers that were named by the applicant. I also believe that there is currently a need for these services–1 in 10 Americans has an issue with substance abuse. And to my surprised, in Europe–Sweden and Denmark led in substance abuse related deaths. This is problem we should all be concern about as a worldwide community. On the business side of things, I do want to see their Smart Contract audited by another 3rd-party company and a more in depth-look at the business model.
Community Greenlight Poll - REIF-DROP (Commercial Real Estate Assets DROP) - September 20, 2021
Voted, “Yes” – I am super excited at the possibility that Maker can gain exposure to the Canadian RE market. The Corl team here teams-up with AO Forge & Foster who has a super cool project in Ontario, including one of my favourites, the artistic and vibrant neighborhood of Dundas, Millworks.
Adjusting Auction Parameters and Testing Layer 2 Components - September 24, 2021
Voted “Yes” – Testing Layer 2 components means L2DAI via Arbi and Optimism is that much closer via the Maker Bridge. The Auction Parameter “Poll” passed with overwhelming support, as the community agrees that increasing the
ilk.hole makes sense and it also helps in avoiding overwhelming Maker Keepers in case of a severe Mkt. drawdown.
1 POLL - ENDING SEP 30, 2021, 16:00 UTC
Offboard USDT Collateral Types - September 27, 2021
Voted, “Yes” – this is something I have personally advocated for since November 2020 via a Signal Request that led to the lowering of the USDT-A DC from 10M to 2.5M DAI.
Offboarding USDT Collateral, Core Unit Budget Distributions - October 1, 2021
Voted, “Yes” – as stated above, this is a follow-up vote for the community’s voice on delisting USDT as a collateral type and this Executive included funding much needed by Core Units, including the newest addition, the DUX Core Unit.
5 POLLS - ENDING OCT 7, 2021, 16:00 UTC
Offboard the BAT-A Vault Type - October 4, 2021
Voted, “Yes” – The Maker Community along with the excellence leadership of the Risk CU have recommended that MakerDAO off-board the collateral type BAT-A.
Offboard the LRC-A Vault Type - October 4, 2021
Voted, “Yes” – The Maker Community along with the excellence of the Risk CU have recommended that MakerDAO off-board the collateral type LCR-A.
Offboard the UNIV2AAVEETH-A Vault Type - October 4, 2021
Voted, “Yes” – The Maker Community along with the excellence of the Risk CU have recommended that MakerDAO off-board the collateral type UNIV2AAVEETH-A.
Offboard the ZRX-A Vault Type - October 4, 2021
Voted, “Yes” – The Maker Community along with the excellence of the Risk CU have recommended that MakerDAO off-board the collateral type ZRX-A.
Offboard the UNIV2LINKETH-A Vault Type - October 4, 2021
Voted, “Yes” – The Maker Community along with the excellence of the Risk CU have recommended that MakerDAO off-board the collateral type UNIV2LINKETH-A.
1 POLL - ENDING OCT 18, 2021, 16:00 UTC
Community Greenlight Poll - CurveLP-stETH-ETH (Curve stETH-ETH LP Token) - October 4, 2021
Voted, “Yes”, as the author of this MIP6 Application I believe 100% that this Curve LP will be a successful collateral type–and in my opinion it is long-overdue. Also, this week we saw great leadership by the Lido Team and its Community along with a few other Protocols: Vulnerability Response
This is a good reminder that integrations are risky and as Matt Rabinowitz likes to say, we must still “Crawl. Walk. Run.”
Off-boarding Vaults, MKR Vesting, and Core Unit Budget Distribution - October 8, 2021
Voted, “Yes” and here’s why:
Offboard the BAT-A Vault Type Besides what I stated in my last post above—whenever I think of BAT I remember Rocket.Chat conversations I had with community members who felt BAT had a better opportunity for growth if they had pegged their token to DAI. It’s not necessarily why I voted yes, but IMO the utility of this token has waned. I can’t remember the last anybody has brought-up BAT in a crypto related conversation. Another factor—most BAT token hodlers can’t afford to open a Vault, as the dust parameters are 10K DAI.
Offboard the LRC-A Vault Type Besides the reasons Instated above, IMO the Loopring community is more focus on building their protocol via incentives that favors the dedicated layer 2 LRC user. Hence, I believe their focus is not on leveraging L1 but more in keeping their protocol as the main focus.
Offboard the UNIV2AAVEETH-A The utility of AAVE as a staking/governance token, plus the fact that most DeFi users are now smart enough to recognize and understand that impermanent loss is real — has taken a bite-out of this Uniswap LP token. Plus you add the fact that even Avalanche partnership is offering incentives for AAVE token holders—the appetite for this LP token is non-existent, IMO.
Offboard the ZRX-A Vault Type The OG of DeFi — sad to see this one get off-boarded, but as Rema of the Risk CU team stated, “ We are currently subsidising these vault types because the stability fee is set to 3% and 4% respectively, while our calculated risk premium is at 16.8% and 30%.” I also admired that Decentraland (MANA) came out and communicated to our community that they wanted to help their token scale via the MANA-A Vault Type. I think some of us would have liked to have seen the same from the ZRX community…
Offboard the UNIV2LINKETH-A Vault Type As we All know the majority of LINK tokens are in the hands of folks that probably do not include MakerDAO in their Christmas list. Although many moons ago I voted to onboard this collateral type, I never felt confident that it would blossom. That feeling was mutual as the community overwhelmingly polled to off-board this Vault Type.
RISK-001 MKR Vesting Stream a well deserved compensation for two Risk CU teammates that have done a superb job on-behalf of MakerDAO—thank you!
Distribute Initial CES-001 Core Unit Budget super excited to see Rojo and the new CES Cu team reel in some new talent to and provide the extra technical services this DAO needs.
5 POLLS - ENDING OCT 14, 2021, 16:00 UTC
Add stETH (Lido Staked ETH) as a new Vault Type - October 11, 2021
Voted, “Yes”, as most will agree that more ETH backed DAI is good, but also the quality of stETH speaks volumes. We also must appreciate the fact that stETH is one of the most liquid tokens in crypto. You couple that with the fact that LidoDAO has been doing tremendous work to improve liquidity and has compelled investors to lock ETH via incentives, I believe this collateral type is beneficial to Maker.
Nexo Institutional Vault Onboarding - October 11, 2021
Voted, “Yes” – I believe the Growth CU and Risk team along with the Community did a tremendous job hammering out the parameters and operating conditions for both institutional vaults ( INST ETH-A & INST WBTC-A). Looking forward to onboarding more institutional partners.
PaperImperium Supplemental Compensation - October 11, 2021
Voted, “Yes” – I might not agree with PaperImperium all the time but the has brought a ton of value to the Community and has worked hard to help the DAO. More importantly I believe that it is important that Delegates seek legal advice, as this is an opaque risk-on hazardous role, which currently has no upside. We do it because we are passionate
Add the Aave Direct Deposit DAI Module (D3M) - October 11, 2021
Voted “Yes” – Shoutout to @EthWarrior and the AAVE Community for introducing the D3M to the Maker Community. “Together we can face any challenges as deep as the ocean and as high as the sky” –Sonia Gandhi Here’s to the start of a beautiful relationship that works for both communities and benefits DeFi adoption across L1 & L2s.
Increase the GUNIV3DAIUSDC1-A Debt Ceiling - October 11, 2021
Voted “Yes” as the PE CU ask the community to increase the DC – this collateral is currently firing on all cylinders and I reckon that we will once again have to raise the DC soon™