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There is not currently an executive vote (at the time of posting). Please check the Governance Portal for updates.
|Poll Name||Vote||Discussion||More Info|
|Add SLP-USDC-ETH Vault Type||Vote||Discussion||SushiJoin Technical Assessment, Risk Evaluation, P.E. Evaluation, Oracles Evaluation|
|Add SLP-WBTC-ETH Vault Type||Vote||Discussion||SushiJoin Technical Assessment, Risk Evaluation, P.E. Evaluation, Oracles Evaluation|
|Add SLP-DAI-ETH Vault Type||Vote||Discussion||SushiJoin Technical Assessment, Risk Evaluation, P.E. Evaluation, Oracles Evaluation|
|Reduce the PSM-USDC-A Fee Out (
New vault-type for YFI with a higher LR
Based on the discussion from the Growth Core Unit Yearn would like to see a YFI-based vault-type similar to ETH-C with a higher Liquidation Ratio to get a lower Stability Fee.
Should we add new PSMs?
Starting the polling on whether we wanted to add any new PSMs for other stablecoins or not. Stablecoins specifically being polled include; BUSD, USDT, PAX, TUSD, and GUSD.
dust is the minimum permitted debt for a vault - you can learn more in the documentation here. Higher
dust values make vaults less accessible for smaller users and protect Maker from the risk of vaults being too small to liquidate profitably. There are separate polls for the ETH-C, ETH-B, and all other vault types, so make sure you read through all.
Urgent Changes, Oracle Whitelisting, Liquidations 2.0 Activations
Passed on May 31, 2021, 04:31 UTC.
Available for execution on Jun 2, 2021, 04:31 UTC.
- The PSM-USDC-A Debt Ceiling will increase from 2 billion DAI to 3 billion DAI.
- The Flat Kick Incentive
tipwill increase from 0 DAI to 300 DAI for all vault types with active liquidations.
- B.Protocol will be whitelisted on the WBTC OSM and Medianizer Oracles.
- The UNIV2DAIETH-A, UNIV2USDCETH-A, UNIV2ETHUSDT-A, UNIV2WBTCDAI-A, UNIV2WBTCETH-A, UNIV2LINKETH-A, UNIV2UNIETH-A, UNIV2AAVEETH-A, UNIV2DAIUSDT-A vault types will be added to the Liquidations 2.0 framework
- Working on getting the rest of the vault types into Liquidations 2.0.
- Working on getting RWA types and SushiJoin up for this week’s vote.
- Optimism DAI bridge development continues. Check out Derek’s post on Multi-chain/L2 solutions.
- Getting the remainder of LP Vaults onto Liquidations 2.0.
- Exploring pricing/monitoring for RWA collateral types.
- L2 solutions are coming online. We will need to look out for competitors, exploring oracle options there as well.
- Made a few parameter proposals last week, higher dust limit and a signal work USDC PSM and a flat
tipfor kicking vaults.
- Adding Sushi LPs, looking into adding xSushi as collateral as well.
- Centrifuge collaterals will be pushed back until the 18th.
- Posted new risk assessments: 6s & Farmland Partners.
- Published paper on liquidity.
- Looking to onboard larger RWA types (50M DAI+) next year
- @mrabino1 led an emphatic and informative speech about the RWA process for 6s capital, which has committed hundreds of thousands of dollars and countless hours towards an unknown outcome.
- Weekly Update
- Talking with other L2 and L1 networks to get DAI on there, e.g., Polygon and Solana.
- Weekly update
- Working with Foundation to transition properties to the DAO like community-development.makerdao.com, Twitter, and the main domain.
- “What the World is Doing with DAI” series is coming soon.
- Content CU is hiring!
- Mascot Vote is quite close
MKR voters, heads up! The monthly governance cycle has officially changed to a more accomodating setup. Instead of three rounds of voting, MIPs and Subproposals will go through individual two-week Ratification Polls. Check out the latest MIPs Update for a view of the updated calendar.
Following accelerated growth in the PSM(), we’re waiting on the global debt ceiling raise that just passed to free up more DAI generation. Due to the “office-hours” modifier, an execution delay that ensures keepers will be present when the Executive goes live, the update is eligible for execution tomorrow, June 2, at 14:00 UTC.
Derek Flossman, of the Protocol Engineering Core Unit, posted a thread outlining the multichain landscape as their team sees it now, Maker’s unique opportunities and challenges, and a proposed roadmap for community discussion.
- DAI peg super stable this week.
- Pretty tight band for the DAI price.
- DAI Supply is still awaiting a global DC increase. Currently capped at 4.6 billion.
- PSM inflow on 5-29 was 203 million.
- USDC is eating quite the share in Curve, likely accompanying the PSM raise.
USDC PSM has officially flippened ETH for the time being.
- PSM USDC 1.8 billion
- ETH-A 1.6 billion
- WBTC 297 million
- USDC-A 240 million
- ETH-C 219 million
- PAX 69 million
- YFI 45 million
- ETH-B 44 million
- LINK 36 million
- TUSD 26 million
- UniV2DaiEth 19.3 million
- UniV2UsdcEth 13.7 million
- UniV2UniEth 7.7 million
- UNI 7.3 million
- UniV2WBTCEth 6.1 million
- renBTC 3.2 million
- UniV2DaiUSDC 2.9 million
- AAVE 2.1 million
- NSDROP 1.9 Million
- MANA 1.8 million
- BAT 1.6 million
- ZRX 1.5 million
- LRC 713K
- Other vaults below 500K (GUSD, KNC<>USDT, UniV2LINKETH UniV2AAVEETH, UniV2WBTCDAI, UniV2DAIUSDT, UniV2ETHUSDT, COMP) at 1.3 million.
- ETH-B vaults have the largest bucket at risk since the biggest vault has a 140% collateralization ratio.
- Liquidation walls kick in significantly for ETH-B & C and WBTC at 15% drawdown. I guess it would be fitting if there is a NgU conference that number go down. Just overcollateralize if you’re planning on raging in Miami.
- Research paper - Stablecoin design - Liquidity
- Yahoo Finance: MakerDAO Unveils Scaling and Multi-Chain Strategy Roadmap
- Need for Data Insights Core Unit
- [Discussion] Press Releases at MakerDAO
- [Informal poll] DeFi Summer 2021 by MakerDAO
- [Informal Poll] Reduce Pressure On USDC-PSM Through A MKR-PSM
- Join Link | GovAlpha - Mondays 17:00 UTC
- Join Link | Protocol Engineering - Tuesdays 15:00 UTC
- Join Link | Content Production - Wednesdays 16:00 UTC
- Join Link | SES Weekly Update - Fridays 14:30 UTC
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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 information and communication purposes only.