Forum at a Glance: October 14th - October 21st

Week of LisCon 2021

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?’

ICYMI - Announcements

Announcing MakerDAO’s Official Discord Server - Huge shout outs to Content Production, GovAlpha, GovComms Core Units, and Tech-Ops:fire:The MakerDAO Discord server has officially launched. Starting October 31st, 2021, will be shut down, and Discord will take over as the community’s primary platform for chat. Check out the post to see how to receive your free NFT!

RWA Strategy Update - Being more strategic - Following up on ideas presented in their previous RWF report, @SebVentures posts an update on the Real World Finance Core Unit to use strategic value for work prioritization and no longer focus on the number of MIP6 onboarded. The team presents new objectives and long-term goals–Awesome to see!

RWA Foundation #001 - RWA Foundation - @SebVentures posts a thread documenting the RWA Foundation to push transparency further and provide an open-source as a reference for the construction and management of future MIP58: RWA Foundation. However, some information will not be shared publicly.

Governance Portal Release v0.2.2 - October 14th - Another update to the Governance Portal. Woohoo! @bainpm from the DUX Core Unit posted an update for version 0.2.2, including improved verifiability & testnet migration, a details tab for spells, improved linked resources, and a colorful vote breakdown progress bar.

Mid-month Parameter Changes Proposal - PPG-OMC-001 - 2021-10-15 - There’s been a lot of appetite for DAI minting, especially on ETH-A, ETH-B and WBTC-A. The temporary cap was reached for ETH-A and WBTC-A, and new DAI can only get minted as soon as the ttl is over. To keep up with the demand, the PPG proposed changes to the DC-IAM parameters for those vault types as a mid-month parameter proposal outlined in MIP46. Check out the associated Signal Requests below.

: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…’

Adding utility to MKR token (discount stability fees for vault owners who hold MKR) - @sasa believes there should be more utility benefits to the MKR token to help MakerDAO benefit from new DeFi developments and increase our dominance in the lending market. @sasa presents an idea for discount stability fees for vault owners who hold MKR. This can help incentivize asset managers to own and store MKR. Check it out and leave your feedback.

[Discussion] Making Maker fractionally reserved (originally posted on Reddit) - With a little over 50% of DAI backed by stablecoins, @samskiter raises the question of whether DAI is completely an algorithmic stablecoin? In response to this, @samskiter proposes fraction reserves for DAI where the proportion of unbacked DAI is controlled by governance votes and careful analysis of the historical demand for DAI. The post also includes two strategies for fraction reserves and is open for discussion.

Issues with our governance process and delegate compensation - Delegate compensation continues to be a controversial and critical topic for discussion. @AstronautThis posts a thread addressing some issues with the governance process being followed for Delegate compensation. Astro believes that the MIP61 process should be followed and polled on-chain along with any successful signal requests. Astro also believes that Delegates should abstain from polls and votes involving their Delegate compensation. Finally, the post contains some thoughts for long-term solutions. Check it out!

Slow automatic debt ceiling increases - There have been many cases lately where popular vault types reach their temporary debt ceilings, which sometimes stops the issuance of new debt. @makerburn is concerned that these avoidable pauses in DAI issuance push potential users to similar services like Aave or Compound. @makerburn provides some suggestions and seeks community feedback on the topic.

Blipper - extending the Clipper to support B.Protocol liquidation mechanism - TL;DR: @yaronvel posts a thread proposing a smart contract that extends the Clipper implementation, with a Blipper which tries to execute the liquidation over B.Protocol, and if it fails, it reverts to the standard Clipper liquidation process. Check out the thread for more details on this proposal.

Seeking Consensus

‘Yo, do you even signal?’

Should we increase Maximum Delegate Compensation as described in MIP61 to 144k DAI for the initial three-month delegate compensation trial? - Signal Closes November 4th - In response to previous signals and discussion, @LongForWisdom proposes a higher compensation for Delegates and asks the community whether we should increase the Maximum Delegate Compensation as described in MIP61 to 144,000 DAI for the initial three-month Delegate compensation trial?

Crank DC, DC-IAM, & Liquidation Parameters [Preparation: Parabolic Stage] [NFA] [Second Attempt] - Signal Closes October 29th - In response to the Governance and Risk Call during October 14th, @aburban90 signals a second attempt to raise the debt ceilings for ETH-A, ETH-B, WEBTC-A, and others along with raising the liquidation penalty for ETH-A and ETH-B vaults.

Set PSM fees to 0% - Signal Closes October 25th - @SebVentures has been diligently pushing the idea to set PSM fees to 0%; which is also suggested in The Case for Clean Money. If their signal were to pass, Sebastien provides many long-term pros and cons and discusses how setting PSM fees to 0% would anchor the perception that 1 DAI = $1.

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.


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

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