Forum at a Glance: October 28th - November 4th

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

GovAlpha Budget Return - GovAlpha is ready to return our unused DAI budget. They published a post to document the return of 218,059.10 DAI to the Pause Proxy. These funds have accumulated through over-budgeting, and the GovAlpha team has contacted @Makerburn to aid with the UI accounting of these actions. GovAlpha intends to continue the process of reviewing and returning unused funds at the end of our budget period.

Delegate Round-up - October 2021 - GovAlpha introduces us to the first edition of their new initiative called the Delegate Round-up, which aims to provide an overview of the Recognized Delegates operating within Maker Governance. It also serves as a one-stop forum post where members of the Maker Community can monitor how Recognized Delegates are performing.

D3M - DC Increase & Target Borrow Rate Decrease Proposal - D3M launched this week and has already seen its debt ceiling fully utilized up to the 10M DAI. Draft audits came back looking good, and the Protocol Engineering team announced their proposal to increase the debt ceiling to 50M, gap to 25M, and lower the Target Borrow Rate to 3.9%. If there are no objections, this request will go on-chain for November 8th.

Request to raise Staked ETH DC to 50M - Risk and Protocol Engineering Core Units put forward a community request to raise the WSTETH-A debt ceiling from 5M to 50M. The liquidation ratio and stability fee can remain unchanged. If there are no objections, this request will go on-chain for November 8th.

Request to raise the GUNIV3DAIUSDC1-A DC to 500M - Risk and Protocol Engineering Core Units back at it with another community request. They propose raising the G-UNI debt ceiling to 500M. This proposed change should also include the Liquidation Ratio lowered from 105% to 102% and the Stability fee lowered from 1% to 0.5%. If there are no objections, this request will go on-chain for November 8th.

FATF Guidance (Crypto vs. AML) and Maker - @jacek updates us on a forum post he made about the consultation paper by FATF. FATF has just published the final version of the guidance. In response, @jacek provides some non-legal opinions on how the new crypto guidance may impact Maker. This post also grew into a discussion on the thread, so check it out!

X-Ray Benchmarking report on the best practices in tech talent awareness, onboarding & retention for MakerDAO - The SES Team share their first major report on benchmarking done by their research project, X-Ray. This is a result of research work including expert interviews, team surveys, desk research & data benchmarks with valuable contributions from across the industry.

Harbor Update October 2021 - @nystateofmlnd1 gives us the October update for Harbor, who integrated with Circle’s Payments and Payout API’s. The update also includes their new website! along with Harbor Pool review and their portfolio allocation.

Multi-chain DAI-lights - @alec from Content Production brings us a revamp on Dai on Different Networks, which is now called Multi-chain DAI-lights! Check it out if you want your updates on DeFi bridges, other projects, and Dai circulation by platform.

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…’

MIP41c5-SP2: Facilitator Offboarding (RWF-001) - @rune submitted a sub proposal to offboard the current Facilitator of the Real-World Finance Core Unit. This thread led to a heavy discussion between much of the community. Solutions and next steps are being made to continue with a best-decision approach for MakerDAO and its community. Keep an eye out for future posts on this discussion.

Fear, Respect, and Influence within MakerDAO - @LongForWisdom posts his opinions to help clarify the culture within the DAO and the relationship between MKR Holders and Core Unit Contributors. He touches on the recurring sentiment of fear, respect, and influence within relationships and explains that there should be a healthy balance between these emotions.

The Arranger Model - a highly scalable RWA framework - With RWAs being one of the largest potential opportunities at MakerDAO, their complexity can promote some risk. In response, @rune published a simplified overview of the Arranger Model as a solution to mitigate risk when scaling RWAs. The post contains input from some of the RWA experts in the community. @rune promotes further discussion and feedback by the community to help further refine the framework. @luca_pro is currently working on a detailed report containing a formal and professional opinion on structuring highly scalable RWA capital allocation.

[Discussion] Alternative to “stablecoin?” - Recent publications have promoted a shift in legislative and regulatory focus, narrowing “stablecoins” to just those that are “convertible to fiat.” In response this these regulatory updates, @PaperImperium proposes that DAI should be best described as something other than a stablecoin (now that stablecoin-specific regulation is being advanced). He promotes community discussion to help determine some good alternative colloquialisms to use in place of “stablecoin.”

Colby’s Research: Range Polling. Provide Community Feedback Please! - First-time poster, @colby, posts his research exploring solutions to general problems within DAO governance and operations, which are to be seen as building blocks that can inform the community in its consideration of better governance automation and improvements. He explores an automated voting system that creates range-polls, which can vote on various parameters. @colby is asking the community for discussion and feedback towards his research.

An Idea For Vaults 2.0 Or Advanced Vaults - @makercaesar presents an idea to help scale Vaults where a lower liquidation ratio promotes a higher liquidation dependent fee, which users can determine up by setting up their parameter for liquidation ratios. He provides a chart demonstration as an example with wBTC-ETH and presents some goals and potential problems using this idea.

Double the speed of the governance cycle? - With the potential professionalization of Recognized Delegates, @psychonaut believes is it time to begin thinking about a shorter, more agile, and responsive governance cycle. He is looking for discussion and feedback on this idea.

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.

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.

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.


shouldn’t these be in Seeking Consensus section?

edit: Or I guess not since they are not signal Requests.

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They aren’t posted as a signal request. So my take is they are announcements on what’s in the next poll unless someone objects.

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

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