Maker Relay Ep 09

Maker Relay 09

Hey everyone, thanks for checking out Maker Relay!

Whether you hold Maker (MKR) or DAI, own a vault, or want to get more involved in MakerDAO governance, this is your one-stop-shop for updates on the MakerDAO ecosystem.


Governance has been voting on Debt Ceilings a lot lately and the Maker blog is here to help! Learn more about The Vital Role of the Dai Debt Ceiling in the Maker Protocol

Monthly Governance Cycle

Executive Votes

MIPs Updates

The Maker Improvement Proposal (MIPs) Framework provides a clear process for Maker governance to change the Protocol as needed.

Poll Name Type Vote Discussion
MIP13c3-SP3 Declaration of Intent - Strategic reserves fund (SRF) Poll Discussion
MIP0c13-SP1 Subproposal for Core Personnel Offboarding Vote Discussion

Proposals in the Request-For-Comments phase include:

Learn more about Maker Improvement Proposals (MIPs)

Weekly Governance Cycle

Executive Votes

Governance Polls

Polls use instant run-off, so you can select multiple options and ranked-choices will be prioritized.

Poll Name Type Result Discussion
Adjust ETH-A Debt Ceiling System Parameter Poll Yes/Pass Discussion
Base Rate Adjustment Meta Parameter Poll -4 & -2 Discussion
Adjust the USDC-A Debt ceiling System Parameter Poll Vote Discussion

Community Greenlight Polls

Poll Name Vote Discussion
BUSD (Binance USD) Vote Discussion
CHI (Chi Gastoken) Vote Discussion
GUSD (Gemini USD) Vote Discussion
HBTC (Huobi Global BTC) Vote Discussion
HTC-DROP (Harbor Trade Credit DROP) Vote Discussion
NS-DROP (New Silver DROP) Vote Discussion
REN (REN) Vote Discussion
TAUD (TrueAUD) Vote Discussion
TCAD (TrueCAD) Vote Discussion
TGBP (TrueGBP) Vote Discussion
UNI-V2-DAI-ETH (UniswapV2 Dai-Eth Liquidity Token) Vote Discussion
UNI-V2-USDC-ETH (UniswapV2 USDC-ETH Liquidity Token) Vote Discussion

Governance Cycle

Signal Requests

Increase WBTC DC

Should we fast track MIP10c9-SP6: yEarn ETH/USD OSM Whitelisting?

Domain Teams

Smart Contracts

See details on Liquidations 1.2 below


The risk team is assisting liquidations 1.2 with operational support and parameters evaluation. The team posted both USDT and PAX Collateral Onboarding Risk Evaluation

Current Events

Vault Compensation

No updates for this week. See Vault Compensation Plan v2.

Liquidation System Upgrade

Liquidation 1.2 is in progress, with a lengthy discussion from Thursday August 20th’s Governance and Risk call.

As @charlesstlouis explains:

More Information

Liquidations 1.2 Technical Details

Liquidations System 1.2 Upgrade (Timeline)

Opt-in liquidation systems, and a registry for upgradable dss modules

Liquidation Auction Mechanisms: More Is Better?

Including Real World Assets (RWA) in the Maker Protocol

@g_dip explains:

More Information

@spin discusses short term RWA liquidations on Ep. 106 of Governance and Risk.

Initial Thoughts and Questions for Including Real World Assets in the Maker Protocol

Real World Assets - CTL Document Roadmap - Getting started v1

Adding Real World Assets (“RWA”) as DAI collateral is a critical step for Maker to stabilize the peg… and in doing so, we change the world

State of the Peg August 24

  • DAI peg got closer and closer to a dollar over the past week, but the past 24 hours has an upward trend.

  • 442 million Dai, with ETH and WBTC responsible for 78% and 18% respectively.

  • Volume at around $122 million this last week.
  • Average 7 day VWAP (volume weighted average price) price places Dai at $1.009

  • The majority of ETH vaults collateralization ratio still in between 200 - 300 %

  • First 30 million liquidation wall at $296 ETH, a 28% drop.

  • WBTC Vaults collateralization still on the riskier end, with large amounts in the 150-200 % bucket.

  • With a 15% price drop in BTC, 23 million Dai would be up for liquidation. |


Articles and Thought Pieces

Videos and Podcasts

Maker Forum Deep Dai-ve

@Graeme_Barnes discusses a project they are working on, relating to the creation of ‘prediction markets,’ and asking questions about potential implementations for governance.

@MagoCrpyto, with Unstoppable Domains, begins a discussion about moving the Oasisapp.crypto to MakerDAO.

@monet-supply asked:


Meetings and Events

MakerDAO Open Calls

Community Call

Community Collateral Onboarding

Governance & Risk

Community Events


Reference Links

Discuss and debate Maker governance in the Forum and over Maker Chat

Propose technical changes, poll, and vote in the Governance Portal

Learn more about the Maker protocol in our Documentation

Have Feedback?

We value your input! Reply to this post, take our survey, or join us in the Community-Development channel to let us know what you want to see.

Disclaimer: This update is assembled by a group of contributing members in the MakerDAO community. This does and should not serve as financial advice or an inducement to vote in any specific way. This update is purely for informative and for communications purposes only.



Current Active Polls:

For these Polls and others please visit;


:clap::clap::clap: thanks @JerryAG for the addition!

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