Forum at a Glance: August 20 - 26

Forum at a Glance!

August 20th - August 26th

The one-stop-shop for finding out what’s being discussed by governance right now.

Links reflect my view of the most noteworthy activities in the governance, risk, and oracles categories right now. Disagree? Think something should be added? Leave a reply or a pm.

Three-Point Summary

‘What’s the most relevant information on the forums this week for MKR and Dai holders?’

  • Total MKR delegated has increased by almost 600%, with the current 65,349.54 MKR! Big whales have stepped in :whale2:.
  • The Protocol Engineering Core Unit is preparing a new PAX PSM deployment for this week’s executive.
  • Did you know that you can track voting activity over time? Check out the MCD Voting Portal!

ICYMI - Announcements

Friday’s executive on August 20th was delayed to go live. @prose11 from the GovAlpha Core Unit published a post detailing two main factors which caused a compounding delay effect. The executive went live the next morning on August 21st, with everything functioning properly.

@SebVentures from Real World Finance Core Unit announced their partnership with JST Capital. They will both work together with Centrifuge and their Asset Originators to bring on-chain securitization to institutional investors.

@SebVentures from Real World Finance Core unit published a detailed roadmap for on-chain securitization based on their internal monthly audit along with the initial review of the New Silver Tinlake legal structure by Shearman & Sterling.

@brianmcmichael from Protocol Engineering Core Unit announced that they are preparing a new PAX PSM deployment for August 27th’s executive. They will propose the initial debt ceiling of 50 million Dai during the initial deployment period with hopes to increase that debt ceiling up to 500 million Dai in the following executive.

@bainpm from the DUX Team published a post-mortem of a bug they discovered that caused the Governance Portal’s “On-Chain Effects” tab on the executive vote detail page to display an error message. This data relies on external API sources, which were unavailable. The DUX Team details the current situation along with what they plan to do next.

:wave:Looking for more posts and updates? Check out the weekly updates and summaries from our teams and Core Units.

Active Discussions

‘What’s going on? You think what?! You’re 100% wrong, and here’s why…’

[Institutional Vaults - Economics & Terms] - Following discussion of the Institutional and Long Term Vaults Proposal, @Aes from Real World Finance Core Unit seek community feedback on proposed scenarios that are analyzed for the economics of the institutional vault terms and assess their impact in revenue.

[RWA Legal Structure IP - Should this be protected?] - @Makerman worries that we are giving away our hard-earned information without restrictions or rights by publically posting the Legal IPs constructed by RWA entities. In response, he promotes the community for comments and discussion on how best to manage this situation.

[Discussion] Proposed Reform of Maker’s RWA Program: Decentralize and De-Risk the Process - As the Maker Protocol attempts to scale exposure to Real World Assets, @PaperImperium discusses that Maker is required to institute better internal controls as we become large enough to afford them. He proposes that the Real World Finance Core Unit be split into two; one focuses on a “business” RWF CU, and the other a “risk” RWF CU. Much deeper discussion can be found in post.

Growth Opportunity: Second-largest US Mortgage Lender To Accept Cryptocurrency - Second-largest United States mortgage lender UWM Holdings Corp’s (NYSE: UWMC) United Wholesale Mortgage plans to start accepting cryptocurrency payments this year, beginning with Bitcoin. @Spidomo suggests that we contact them to see if they would be interested in accepting Dai as their first stablecoin for mortgage payments.

Recurring revenues - @Amin_Talebi suggests the idea of recurring revenues by Maker in the hope of promoting reliability to users who would rather be liquidated than pay back their debt.

Why is the New Silver stability fee lower than HTC when its TIN/DROP ratio is so much less? - @thedstrat initiates a discussion of questions around how stability fees affect the TIN/DROP ratio, specifically in New Silver.

Measurement of voting participation - @Saludiego_201 promotes a discussion on the idea of improving the metrics and measurement of voting participation and voting activity.

Seeking Consensus

‘Yo, do you even signal?’

[Signal Request] Lower the Flash Mint Fee to 0% - @hexonaut suggests following dYdX and permanently removing Flash Mint Fees helping improve both arbitrage for DAI and front-end UX. Although there is a risk for potential loss of revenue, dYdX has shown its liquidity pool increase from 138k to ~10M, which is large enough to cover most use cases. The post follows up his Initial Flash Mint Module Fee Signal Request.

Ongoing Initiatives

‘Oh my god, this is taking ages; why can’t things be simple?’

Recognised Delegate Requirements - @LongForWisdom writes a detailed overview of the current requirements and application system to become a delegate in the Maker community. Check out this thread for more posts related to delegation.

:mega: Collateral Calls - Calling all Projects! - @juan sets up a signup thread for projects wishing to present on the bi-weekly collateral call. Know any potential collateral partners that want to present? Refer them here.

Collateral Status Index - Confused about the current status of the various collateral types that have been discussed recently? Check out this post to find out the status and current position of each within the onboarding process.

Weekly MIPs Updates - @blimpa brings the latest updates in the world of MIPs.

The Official Welcome Thread - A welcome and introductions thread. Not strictly governance, but if anyone new or old wants to introduce themselves, now is your chance!

Help Wanted

‘Oh %#$?, we need a doodad, and we need it now.’

Wanted: Governance Contributors for GovAlpha - @LongForWisdom puts out the call for new team members! Different tracks are available depending on interest and time commitment.

Wanted: Risk Domain Monitoring Tools - @Primoz puts out a call for additional support to produce monitoring tools for the risk team. Grants are available.

We could always use help reviewing MIPs in the Request for Comment phase.


@Saludiego_201 I think this proposal would be very good from the point of view of measuring participation and projecting into the future, we will see. :eyes:


Yes, indeed.
I have been doing a lot of metrics research lately for GovComms and came across a few great companies that personalize metrics and analysis; they have experience in working with very specific and unique data. A few off the top of my head are MonkeyLearn and Lexalytics


Excellent Artem you are a hard worker :ok_hand:
It is necessary to think strategically which would be the ideal one, but without a doubt it is good to have many options. :eyes:


It would be great to see it in action, I like to contribute ideas in Maker, I don’t know, I like everything to work more efficiently, things of the trade.


The updated video version is now available on the MakerDAO Youtube channel for review:

@JerryAG thanks for the write up. It’s great to have a place to just getting the quicktake for the week, now that so many discussions from different angles happen in the channels. Time is the most limited resource. I’ll just look this up going forward.

1 Like

Thanks! Feel free to give us any feedback and ideas for improvement.

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