Know Your MIP #04: Keg Streaming Payments Module - Friday, February 5th 18:00 UTC

amyjung · January 27, 2021, 6:09pm

What

The Keg is a tool for streaming ERC20 DAI to a preset group of addresses. You may have heard or read it in reference to the FlapperDistributor and mechanism for Core Units budgets.

@prose11 will be going over the non-technical elements of Keg Payments MIP.

MIP48: Streaming Payments via the Keg

@hexonaut will be explaining and going over the technical details of:

MIP34: Keg Streaming Payments Module

More discussions around the Keg:

When

2021-02-05T18:00:00Z

Where

>>> This Zoom link <<<

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Read up on the MIP, bring lots of questions and contrarian views and see you there!

attn: @juan; @blimpa; @charlesstlouis ; @LongForWisdom ; @ElProgreso ; @iammeeoh ; @MakerMan

amyjung · February 5, 2021, 2:07pm

Bumping for visibility. Join us today

prose11 · February 5, 2021, 3:22pm

Can’t wait!! If anyone has any questions they want to ensure get answered, feel free to drop them on this thread!

amyjung · February 8, 2021, 10:58am

Recording is up: https://www.youtube.com/watch?v=NjgDqqKpb2o

blimpa · February 14, 2021, 10:23pm

Know Your MIP Summary - Episode #04

February 05th, 2021

Agenda

00:00: Intro with Amy Jung
00:46: Discussion with Payton Rose (@prose11) and Sam MacPherson (@hexonaut)
45:53: Outro

Video

https://www.youtube.com/watch?v=NjgDqqKpb2o

Introduction

Amy Jung

Agenda and Preamble

00:00

Welcome, everyone. We’re doing KYM #04 that’s focused on the KEG. We’re going to start with the wonderful Payton, who’s going to give us the non-technical MIP overview. That will kind of fill in at the high level for everyone.
And then we’ll also dig into the technicals with Sam, who also submitted a technical MIP, which is now an RFC.
For other episodes of KYM, please check the forum.

Discussion

Payton Rose and Sam MacPherson

Discussion

00:46

09:26 — Frank Cruz: Regarding the gas and the transaction fees, does the contract keep some ETH on the side?

14:23 — Amy Jung: Does it have to stream instead of doing one chunk at a time?

15:29 — Robert Jordan: Regarding the frozen period of four weeks and the frozen period of two weeks, how specifically does that work?

17:28 — Robert Jordan: If you have a core unit and a budget attached to that and a facilitator, does this also overlap into that process as well? Because once the budget’s approved, that’s approved through the normal MIP process. Is this an additional process if we’re using the Keg to fund a budget for a core unit?

18:47 — Amy Jung: If you were a core unit that proposed six months, then you don’t necessarily also have to use the Keg; you can just say “Hey, every month I want X amount and we’re going to deliver this work.”

19:40 — Frank Cruz: Hypothetically, if the Surplus Buffer did go very low and we had to mint MKR, how long would it take for the distribution of the new Dai if we had to unfortunately mint new MKR?

21:00 — Amy Jung: Can anyone send money to the Keg, not just Maker Governance?

21:35 — Robert Jordan: If a budget is tied to a core unit and there’s been some agreement on that, and if the Surplus Buffer runs low and some sort of austerity needs to be applied, has there been any discussion on that and how that would happen?

23:50 — Tim Black: Can you unpack how flights are registered or the addresses? I’m not quite getting that part

24:38 — David Utrobin: Should there be streams towards individual contributors or should it all just go to one address and then that one address, whether it’s controlled by a single facilitator or some multi-sig, then distribute it according to the budget at their own discretion?

25:37 — David Utrobin: The other day there was a presentation from a company called Accountable; they would be a service provider to core units that wanted to offer fiat payments and a more traditional range of benefits for their employees. And I think the way that it worked was that the payment would go straight to them and then they would do all of that. So in this case they would just get a Keg route through a single contract address. That’s how they would set it up, right?

26:49 — David Utrobin: I don’t know it Accountable or another similar company would want an upfront or some sort of deposit for service, basically. That’s what I’m interested in. Because if it’s streaming, it might not be ideal for that service provider.

28:04 — Frank Cruz: Are there any core units that are looking to use Accountable?

30:49 — Amy Jung: I don’t know if everyone got a chance to read the Flapper distributor, which is one the use cases that Payton was going through. There was a lot of discussion about it, but essentially instead of the flights being core units, for example, it could direct to an operational budget that then distributes to core units that then distribute to their contributors. So I was wondering if anyone thought of using the Keg at that level of abstraction versus it being directly tied to core units

35:40 — Derek: The streaming function of the keg is designed to stream to, let’s say, a core unit multisig, for example — not necessarily to individuals. I’m sure people would like to be paid at a streaming rate from a multisig. What would be the complexity in offering such a thing or perhaps working with a Gnosis multisig type offering that would allow individuals to be paid in a streaming manner from another entity or wallet, in this case.

38:54 — David Utrobin: Does the Keg has a bandwidth for a max number of streams?

39:51 — Greg: Is it possible to store a Dai from the Keg on xDai or some sort of L2 solution?

41:28 — Amy Jung: Can you give us any other insights into what some of the risk may be?

Closing Comment

Amy Jung

Outro

43:53

Thank you so much, Payton and Sam. This was really cool. It’s a crazy crypto world that we live in. Thank you for everyone who also came. If you have any questions, we’ll be posting also the video follow-up to this and we’ll also be posting it on the forum as well and you can also ask questions there if you’d like. Thanks, everybody.

Credits

@blimpa produced this summary.
Everyone who spoke and presented on the call, listed in the headers.