Forum at a Glance September 30th - October 7th

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

There has been a lot of discussion around delegate compensation and parameters. @psychonaut follows up on the subject by introducing MIP61: Delegate Compensation, a proposal describing how Recognized Delegates will be compensated.

@LongForWisdom announces a new mandatory budget implementation standard for all existing and new Core Units. Reasoning: figuring out executive content for CU budgets has become time-consuming for GovAlpha. There has also been a lack of clarity in budget proposals.

Evaluations, Audits, and Reports

Real-World Finance Core Unit Report - 2021-09

Real-World Finance: Financial Report - 2021-09

6s: RWA001-A Circuit Test Report

Risk Core Unit Month in Review: September 2021

SES: Operational Data Core Unit - Survey Results Summary

PECU: [DIRECT-AAVEV2-DAI] Direct Deposit Module Technical Assessment

: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…’

:fire: Post of the Week :fire:
The case for Clean Money - MakerDAO has significantly evolved over the last several years. With so much opportunity ahead of us, @rune envisions Maker reaching its true potential by becoming a purpose-driven DAO with a compelling vision; He promotes that we can use the power of DeFi to adopt the principle of Clean Money and Sustainable Finance to help coordinate a global build-out of sustainable energy pathways for clean energy projects. The core of his Clean Money initiative consists of a tokenomics system called the Sagittarius Engine, which would replace itself as the destination of Maker’s protocol surplus and provide a tangible benefit to MKR holders who lock up their MKR into governance for long term periods. Much more information and deeper discussion are found in the post.

The DAO needs a serious discussion about legal structure - MakerDAO currently has no legal structure registered in any jurisdiction, and Maker is very likely to be classified as a general partnership within the United States, which can lead to multiple risks for the DAO and any individual member of the organization. In response, @PaperImperium urges that we find solutions to these problems as soon as possible. He offers some solutions in the post but promotes serious discussion on the subject.

Suggestions for Multiply Oasis interface - Maker has a new Multiply function for Oasis which allows vaults to leverage in one step. @chonghe states that the UX is not user-friendly. @Frank_Brinkkemper from responds by addressing the problem and clarifies their plan to fix it.

Is Maker Dao decentralized at all? - @sasa asks the community why Maker decided to give MKR to a few people during inception even though there was no ICO. He believes that MKR distribution is very concentrated and can no longer be minted.

Proposal: Market Making Proposal from Wintermute Trading - @YM_Wintermute submitted a proposal to provide market-making services to MakerDAO. The proposal involves loaning 10,000 MKR to Wintermute Trading, who will either return the loan in full or provide 50 million USDC, representing a 100% premium to the current price. You can watch their introduction to this proposal on last week’s Governance and Risk Call.

Fixing the par value of the stablecoins - In response to the FEI PSM proposal, @SebVentures is asking the communities opinion on setting at least one of the tin/tout of the PSM to 0% to achieve a 1:1 peg to allow other stablecoin protocols to provide a PSM-like facility with this 1:1 without having to deal with centralized stablecoins directly.

Ongoing Discussions:

‘Who said discussions should end after a week!?’

Self Insurance Fund - @layerzero from Sustainable Ecosystem Scaling Core Unit introduces SES Legal used for legal and regulatory topics and initiatives. He also announces their Self Insurance Fund, which will cover legal costs, economic damages to third parties and can be used as a legal reserve for obtaining a legal opinion or advice. Much more information can be found in the post.

Seeking Consensus

‘Yo, do you even signal?’

Turn off burner, fuel up Sagittarius Engine - In reaction to @rune’s post, Planet_X
signals to turn off the Buy and Burn, keep the surplus buffer at 60 million DAI, and direct excess funds of the Surplus Buffer to the Sagittarius Engine.

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.

Seeking community members interested in podcasting - @Content Production Core Unit Team is seeking blockchain, DeFi, and MakerDAO enthusiasts who are interested in hosting podcasts featuring different types of content on a weekly, bi-weekly, or monthly basis.

: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.

We are looking for recruits and wonderful people to join MakerDAO! Check out MakerDAO.recruitee and LinkedIn if you are interested.

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