Forum at a Glance: November 4th - November 11th


The one-stop-shop for finding out what is 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 is the most relevant information on the forums this week for MKR and Dai holders?’


ICYMI - Announcements

DssBlow: Making Surplus Buffer Repayments Easy - @lollike from the CES Core Unit introduces DssBlow, a new helper smart contract that makes it easy for Core Units to repay excess Dai to the MakerDAO Surplus Buffer. With DssBlow, you can send ERC20 Dai directly to the DssBlow contract address. Once Dai has been received by DssBlow, anyone can call on the new blow() function to send all deposited Dai in DssBlow as internal Dai to the Surplus Buffer.

MakerDAO Actual Expenses vs. Budget - September 2021 - With the recent discussion around our Core Units actual expenses versus the approved and on-chain budgets shown on Makerburn, it was important to express their divergences. @Aes took the liberty to work with the Core Units to publish their actual expenses incurred during July, August, and September. The provided reconciliation shows that we are actually $0.9M less profitable than reported in September and $1.4M more profitable on a YTD basis. Check out the post for more data!

GFX Labs Delegate Platform - @GFXlabs announces their Delegate Platform! The GFXlabs community desires to be active participants in Maker Governance and provide communication behind their votes. To learn more about their Delegate Platform, check out the Meet Your Delegate Call #6 on November 17th.

Introducing Maker Wormhole - Maker Wormhole definitely takes the spotlight with their logo!:fire: The PECU introduces DAI Wormholing - the ability for almost instantaneous teleportation of DAI between supported Layer 2s and Ethereum. The design is fully trustless and allows system participants to bridge virtually unlimited liquidity through instantaneous minting of DAI on the destination domain. L2 → L1 fast withdrawal should be available in Q1 2022, and the complete Wormhole features should be available in Q2 2022. Check out the post for a technical breakdown of Maker Wormhole.

Governance Portal Release v0.2.3 - November 8th - DUX Core Unit at it again with some fresh Governance Portal updates. Some featured updates include: Delegate voting weight chart, badges for poll categories, MKR needed to pass an executive vote, unique avatars For Shadow Delegates, owner badge displayed on Delegate cards, MKR amount locked in Chief, and more!

Audits, Reviews, and Assessments

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

Check out the monthly Financial Reports here.


Active Discussions

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

[preMIP] IAM for Surplus Buffer - Historically, we have always tried to keep the Surplus to Non-Stablecoin DAI Ratio roughly between 1% and 2%. However, controlling the Surplus Buffer becomes more difficult with more collaterals onboarded and the rapid growth of DAI supply forming conflicted community sentiments. In response, @ultraschuppi submitted a pre-MIP discussion proposing that we introduce an Instant Access Module that would allow any user to adjust the Surplus Buffer based on parameters decided by Maker Governance. He provides dimensions and parameters in the post and seeks feedback and community discussion on this idea.

[Informal Poll] Prioritize D3M Rollout to Compound - With the successful rollout of D3M to Aave, @PaperImperium wants to gauge the sentiment of the community to make it a priority to extend the D3M to Compound. He lays out the pros and cons, and asks “Should Integrating Compound Into D3M Be Prioritized?” If ‘Yes’ votes outnumber ‘No,’ an on-chain poll will be presented to vote upon the prioritization of adding Compound to D3M.

MKR will be eligible collateral for the FIAT DAO Jubilee program - FIAT DAO enters the building by introducing their new protocol, FDT (FIAT DAO Token) Jubilee, which is a Proof-of-Capital program. MKR holders will be able to stake in the FDT Jubilee. FIAT DAO presents a value proposition for FIAT and wants to provide a diversified form of collateral to be used by the MakerDAO system.

Centrifuge Collateral: A way forward with a Delaware Statutory Trust and the Arranger Model - @roollie introduces Centrifuge Collateral and presents an Arranger idea with MakerDAO. The Centrifuge team begins by addressing legal concerns brought by the community along with their next steps, which involve bringing RWA on-chain into Maker as collateral in a scalable and sustainable way (with Maker as one of their key partners). They introduce their proposal and seek feedback and discussion from the community.

Proposal: Add Kattana: cross-chain trading terminal for DEXs and CEXs, to the app ecosystem of MakerDAO - First-time poster, @Ilya_KTN, introduces Kattana, which is a project that works with big data to provide any requested information that can be used to create new products and apps. @Ilya_KTN proposes for Maker to add the Kattana cross-chain trading terminal to the MakerDao ecosystem and allow the ability for developers to freely use trading data. He promotes that collaboration can speed up DAO solutions while significantly improving the experience for MakerDAO ecosystem apps users.


Seeking Consensus

‘Yo, do you even signal?’

[Signal Request] Increasing the Surplus Buffer (2021-11) - Signal Closes November 19th - @ultraschuppi is signaling to the community in request to increase the Surplus Buffer. He asks the community where we want to set the Surplus Buffer and whether to keep burning some of the profits.

[Signal Request] New vault-type for WBTC with a higher LR - Signal Closes November 19th - DAI minted from WBTC has recently been increasingly popular with the amount of DAI being tripled within the last month. A large market downturn on WBTC vaults running with a higher Liquidation Ratio is less likely to undergo liquidations, resulting in a loss for the protocol and the vault owner. In response, @ultraschuppi signals to the community, asking whether we should add a new WBTC-based vault type with a higher LR.


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.

Where to Find Opportunities at MakerDAO - Looking for job opportunities at MakerDAO? Perfect! @Davidutro set up a thread containing resources to help find available job listing and hiring practices. If anybody has additional information on unique hiring practices or job listings, please comment on the thread.

: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.

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

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