Know Your MIP #9: MIP13c3-SP11: Onboarding a new collateral type backed by B.Protocol v2 - Wednesday 11, 3PM UTC

What

For the 9th episode of Know Your MIP we’ll be talking about MIP13c3-SP11: Declaration of Intent - Onboarding a new collateral type backed by B.Protocol v2 with B.Protocol founder Yaron Velner (@yaronvel).

You can read some discussion on the topic here. There’s also a collateral onboarding call for WBTC-B with B.Protocol as Backstop.

@juan will be doing the hosting :heart:

When

2021-08-11T15:00:00Z

Mark it on your Google Calendar!

Where

>>> This Zoom link <<<

Or by using this:

Meeting ID: 876 6679 1903
Passcode: MIPMIP
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Meeting ID: 876 6679 1903
Passcode: 094782
Find your local number: https://us02web.zoom.us/u/kehPz09t9i

See you there!

attn: @Protocol-Engineering, @Oracles-Core-Unit, @Risk-Core-Unit, @gov-comms-core-unit, @GovAlpha-Core-Unit, @Planet_X, @ElProgreso, @twblack88, @monet-supply, @PaperImperium

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Heads up, the original calendar event went mysteriously missing.

I put up a replacement!

Add to your google cal with this link

or just see it listed on the full view of the public events calendar.

The full call is now available on the MakerDAO Youtube channel, here;

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Know Your MIP Summary - Episode #09

August 11th, 2021

Agenda

  • 00:00: Intro with Juan Guillén
  • 00:44: Discussion with Yaron Velner and Eitan Katchka
  • 56:38: Outro

Video

https://youtu.be/g0J728J5_aQ

Introduction

Juan Guillén

Agenda and Preamble

00:00

  • Hi everyone! Welcome to Know your MIP #09, where we get to know more about the MIPs that are proposed to the Maker community, and when we can discuss the mechanisms and the team behind them.
  • In this episode, we will be discussing how B.Protocol would like to be integrated into Maker and its utility.
  • For other episodes of KYM, please check the forum.

Presentation

Yaron Velner and Eitan Katchka

00:44

Questions

25:57

  • Primoz Kordez (from chat): Is it fair to say that the vote maxing debt size is related to the Dai deposited?

27:42

  • Primoz Kordez: I want to make sure I am understanding this correctly. Your backstop keeper consists of two types of services. You guarantee that there are funds available for liquidating this debt but you also have this B.Protocol AMM which is good because it has this high amplification coefficient and it makes minimum slippage when you liquidate it. To be sure: these are two separate entities or ports within the protocol?

30:38

  • Someone: You are providing stability pool as a service for Maker, right? You use the stability pool to get ETH through liquidations and then you are using, for example, Uniswap V3 to swap it back to more DAI and feed it back to your stability pool. Instead of getting ETH, you get more DAI, right?

31:40

  • Frank Cruz: You incentivize folks to deposit LUSD or DAI by giving them B.Protocol tokens, is that right?

33:08

  • Pepper (from chat): Is the Dai float guaranteed to be used?

39:20

  • Someone (from chat): Question about the monopoly.

43:20

  • Someone (from chat): How important is the yield?

49:57

  • Frank Cruz: I saw that you are using the Chainlink price feed for LUSD, right?

50:34

  • Frank Cruz: You mentioned you use Gelato and Chainlink as a backup, how would it work here?

52:20

  • Juan Guillén: Regarding the next steps, are you planning on going into the next cycle or waiting a bit more for comments?

53:36

  • Primoz Kordez: I have a comment from a Risk perspective. I know the original intention was to lower the liquidation ratio of these Vaults and I think this is still the whole idea apart from improving the liquid efficiency or auction throughput. It really depends on the oracles when it comes to BARK. Not the medianizer that is used to settle auctions but when triggering them. This is something you should probably need to discuss with the Oracles team, because if they prefer to use the delayed price, this is a problem.

55:52

  • Juan Guillén: For anyone watching this offline, what is the best way to contact you?

Closing Comment

Juan Guillén

Outro

56:38

  • Thank you for the presentation! It was really good and informative.
  • Thanks to everyone else for coming!

Credits

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