Growth CU weekly update: October 15 - October 28

General Updates

Institutional Vaults

IV has been helping us to initiate conversations with companies with large crypto treasuries to explain to them what’s happening with Maker. It’s easy for them to not pay that much attention, and to get distracted by the rewards other protocols offer, and not be aware of the lowest stability fees and opportunities Maker has.

One to one communication with our users has been an interesting process that allowed us to:

  1. The objective with Nexo’s IV is to mint up to 1.5B DAI from ETH and wBTC, increasing the Dai backed by decentralized tokens. When we started conversations with them, Nexo had a 200m DAI position, and by today they have a 1.3B DAI position.

  2. Celcius increased their position from a 38m DAI position to a 225m DAI position.

  3. It is helping us to understand the challenges institutions have when interacting with Maker:

  • We discovered that Fireblocks for institutions was not working well with Oasis. Now we are working with the FB team and PECU to solve that problem.

  • We are having conversations with other institutional custodians so they can integrate maker vaults.

  • Although the Polygon -Matic- vault is not an IV, we knew the primary user for the vault was going to be the Polygon team. They have been having issues with the DC-IAM because of the efforts to coordinate their multi-sig signers to approve each transaction and then wait for the DC to increase. We also had a similar situation with the USDP PSM, in this case, the user didn’t understand how the DC-IAM worked.

  • We have been educating the compliance and legal team of those institutions on how is Maker different from a lending pool and the implications of being a DAO.

A strong Maker ecosystem

Our strategy is to create long-term relationships with our partners. Because of that, we proposed to the community to add new stablecoins to the PSM after discussing how both teams (Maker and the stablecoin) could find benefits from that integration. Thanks to @Jenn and @MarianoDP for your work with the Gemini team!

LisCon and the Maker Mixer

It was a blast to meet all the 64 Makers in Lisbon. There was a lot of networking between the Maker Fam (lots of new faces!!!), new ideas on how to improve what we do, collaborate better with each other, and grow the Maker fam.

We had the Maker Mixer (Thanks to @Corina for helping us to organize it!)

@juan and I participated as speakers in the LisCon event

We talk about MIM+Maker with the frog nation (from DeFi to DeFi 2.0 :frog:)

Party with the bests :partying_face:

And talked about clean money (from Defi to Refi :deciduous_tree:)


We are organizing a side event during NFT NYC next week with Stablenode, Creaticles, Upshot and Chromia… registration is here:


As usual this update is a joy to read :slight_smile:

If that is the reason and there is in fact no lack of goodwill on their end, finding a mitigation that ensures this doesn’t happen again while mostly maintaining the security brought by the DC-IAM sounds like a medium-high priority (I guess for PECU or Risk). It’s particularly sad when illegible, work-intensive layers of technical friction create bad outcomes.


Any way I could get ticket to Mynt? It says sold out

Really awesome pics, guys. When we get out of lockdown, I’ll do a 35h flight to Lisboa :smile: