Forum at a Glance: October 21st - October 28th


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

[WBTC-B] and [WBTC-BProt-A]: Review and Plan of Action - Recent forum discussions (1, 2, 3) that imply a bullish market outlook and a consequent increased demand for DAI minting, suggest that several parameter changes and vault upgrades may be necessary. The Risk Core Unit believes that the time is right to introduce a WBTC-B vault with a lower liquidation ratio, which will help absorb the increased demand for WBTC capital and generate more DAI. In addition, the Risk Core Unit believes that we should also onboard the WBTC-BProt-A vault supported by the community. These vaults can be worked on in tandem. Check out the post for more information and links to this POA.

ultraschuppi Delegate Platform - @ultraschuppi announces his Delegate Platform! He uniquely presents the core values by instead presenting his voting methods. He also provides a brief background and some conflicts of interest. Tim Schuppener will present his Delegate platform in the Meet Your Delegate call #5 on November 3rd.

Parameter Changes Proposal - PPG-OMC-001 - 2021-10-28 - The Parameter Proposal Group announced additional proposed changes to ETH-A, ETH-B, WBTC-A, LINK-A, MANA-A, RENBTC-A, USDC-A, MATIC-A, and UNIV2WBTCETH-A vault types. Check out the post for more detail on these parameter changes.

A Framework for Valuing MKR - 10.27.2021 - @Aes published a discounted cash flow model six months ago. He follows up on that post with a new thread containing updates, revisions, and an MKR valuation model as of October 27th, 2021.

Starknet Engineering Core Unit, October 2021 Update - Starknet Engineering Core Unit published their first written monthly update containing work done so far, considerations for self-custody, and their next steps. Check it out!

MIP6 Collateral Onboarding Application: Monetalis - Wholesale, Green Economy, Senior, Secure SME funding - @Allan_Pedersen from Monetalis requests a vault of 400M DAI. Monetalis wishes to deploy that amount towards wholesale, green growth economy, and senior secured credit originating from non-bank SME lenders in the UK. They present the full case for this request, in detail, in this document.

Monthly Strategy Review - Process Review & Discussion (Public Call on 10/26/21 1:30 PM UTC) - @Aes from RWF held a public call presenting MakerDAO’s first Monthly Strategy Review. Although this was a public call, there is a follow-up discussion on the thread, and the call recording is up on YouTube.

Audits, Reviews, and Assessments

[CurveLP-stETH-ETH] Collateral Onboarding Risk Evaluation

: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…’

[Informal Polls] Clean Money - Exploratory Sentiment Polling - Governance Facilitator @LongForWisdom has published an Exploratory Sentiment Poll to gauge the community’s interest in pursuing the ideas laid out in The case for Clean Money.

How Delegates Vote? Scientific Governance - With lots of juicy discussion around Governance and the role of Recognised Delegates, @iammeeoh presents his own opinions and feedback by providing current issues and potential solutions to those issues. Check out the post for more detail.

Product strategy thinking about growing Maker’s market share - In response to the Monthly Strategy Review call on October 26th, 2021, @dalin presents a comprehensive thread containing his thoughts and ideas to help improve MakerDAO KPIs. @dalin is seeking feedback and discussion from members and the community.

Proposal: GUSD PSM - @tylerwinklevoss from Gemini proposes creating a GUSD PSM that can help reduce single third party risk for Maker, diversify Dai collateral, and help strengthen Dai’s mission as the largest decentralized stablecoin.


Seeking Consensus

‘Yo, do you even signal?’

[Signal Request][P1-DROP] Change of covenants for P1-DROP (farmlands) - Signal Closes November 10th - @SebVentures from RWF presents an update for P1-DROP and requests to increase their acquisition price to $2.85M which would provide MakerDAO exposure of 2M per farm. The expected Debt Ceiling is 20M, and the TIN+equity tranche would be 8.5M. In addition, the signal requests to add Arkansas as a possible state.

[Signal Request] 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?

MIP 55 Signal Request - RealDAO SPF (to make Moloch-based SPV’s) - Signal Closes November 11th - @jameskmccall from RWF presents a detailed MIP55 signal request to the community for support in their RealDAO Special Purpose Fund. The RealDAO SPF is a unique approach to express a willingness to experiment with other ways to handle Real-World Assets. The RWF Core Unit asks whether MakerDAO would signal a 50,000 DAI SPF (with conditions) to build a decentralized SPV infrastructure.

[Signal Request] Offboarding MATIC, COMP, AAVE, and BAL - Signal Closes November 8th - MATIC, COMP, BAL, and AAVE vaults have shown poor performance and difficulty covering Oracle gas-costs (with addition to other issues presented in the post,) @NikKunkel from Oracles Core Unit signals to offboard these vaults.

[Signal Request] Increase The MakerDAO NS-DROP maximum to 85% when AO TIN participation is at least 50% - Signal Closes November 4th - The New Silver AO pool on Tinlake has been live for ten months and approved as the first RWA with MakerDAO for six months. Therefore, given the seniority of the MakerDAO debt and many other protections, including borrowers’ equity on every loan, we hope the community would consider adjusting the maximum share of DROP tokens that the DAO is holding. @prankstr25 is asking the community whether we MakerDAO should increase its’ maximum share of NS-DROP to 85% when AO TIN participation is at least 50%

Crank DC, DC-IAM, & Liquidation Parameters - 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.


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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November 3rd!

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Thanks for the spot! Might have to make an appt. to my Ophthalmologist :sweat_smile:

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

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