Maker Vault Compensation Updates and Status

Greetings everyone.

I am starting this thread to have a single place for Updates on the above. I will edit here so people can see the current status and items yet to be worked on. My time is limited and LongForWisdom is a much better forum organizer so bear with me.

WORKING GROUP consists of @Joshua_Pritikin @LongForWisdom @MakerMan @monet-supply @Vault2288 @befitsandpiper


20200619_2300 EST

The Compensation Plan has been posted for community review here.


20200521 Status Update

While working on a comprehensive compensation plan we discovered there are more classes of people affected by Black Thursday than just those who were liquidated. One example is @Vault2288 but there are others. Trying to reconcile the issues to present to governance a Compensation Package to vote on, as well as fund successfully, becomes more complicated because the amount of compensation will be determined not just by the class of vaults selected but also the compensation ‘formula’ offered so that governance can be presented with a price tag. This is a non-trivial task and made even more difficult without resources…


20200524_1352 Short update. I am guessing this is a holiday weekend thing. Only thing to report is that with no new data I am breaking down and grabbing data ‘one vault at a time by hand’ from oasis and saving the data into a text file so I can run code to pull all the information for all vaults into a csv for complete analysis. Reminding me of where I was at with data collection over a month ago before my first report.

Doing this all by hand one whatever at a time. now the number is in the thousands vs. the hundreds.

Random example:

I am up to vault 72 currently… But most vaults down here are N/A on oasis and defiexplore anyway.

I with this could go faster everyone but the resources are just not coming forward. :frowning:

I hope everyone is safe and trying to enjoy the holiday.

All the best,


Thanks for the effort.
But, …, it looks like we’re moving farther away from a conclusion…

Pls add vault-compensation tag

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20200525 Things are looking up a bit. @befitsandpiper figured out how to convert the defiexplore data download. Hopefully by Memorial Day we will have history data for ALL MCD vaults in hand and it will be sufficient to begin work on a new compensation scenario report covering all vaults.

Ironically it seems like every time I start doing this by hand someone pops up with data.

Hopefully I have a better update tomorrow.

Thank you! Thank you! @befitsandpiper



20200525_0955 I have an entire vault history in hand with collateral deposits/withdrawals, DAI mint/burn as well as collateral prices. The data will have to be massaged into a form that is more useful. It is just a linear history in time with all the MCD actions by vault holders and urn IDs vs vault numbers. All liquidations are in another csv.

Size of the files is pretty large and my current compute resources limited I will have to be creative about massaging this data. It is going to take some time to work this down into what we need.

Thank you again @befitsandpiper


20200525_2300 We have all the defiexplore data converted. Give thanks to @befitsandpiper. We now have vaultIDs matched with urns as well as wallet addresses and all MCD historical vault data. Beginning coding up a parser to pull and organize the needed data for Black Thursday vault impact analysis over the time period(s) chosen. This may go faster if @befitsandpiper can get the mongodb queries working (he is totally new to mongodb) and we can pull the data we need via query. Still trying to determine exactly what we need for what we want but this ‘should’ go pretty quickly.

I will update when we hit another significant point here.


Whilst i appreciate the work being done bu the few individuals and want to see an end to this…this is coming accross as an absolute shambles.

Very few people seem to care about this and the foundation seems to have buried its head in the sand completely.

This is not the defi look that we were all hoping for from maker.


Agreed that Foundation seems to mistake “decentralizaitno” for “Im not responsible for anythign.” Shouldnt be on one volunteer guy doing this solo.


@MakerMan @befitsandpiper thank you for your efforts.


Nice to see someone is looking into it. thanks

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Thank you so much @MakerMan for the wonderful effort on this.


20200529_1042 I finally got some more time to start working on this again and have a piece of code that is finally starting to come together to produce a vault by vault analysis over the time frame of interest (I am currently using startblock endblock times as these are easiest to deal with) and include vaultIDs. Initial data consistency checks looked pretty bad, but are improving as I find slight errors in the code by checking and cross checking particular vault reports against oasis etc.

One thing I know we will need. Someone or group that can produce another independent dataset that can then audit my work. defiexplore folks said they whipped the code to produce this dataset together pretty quickly and did not consistency check it. I will have ‘some’ consistency checks particularly when it comes to liquidations.

I STILL HAVE NOT gotten any word from anyone about why two vaults that should have gotten collateral back from liquidations have not (e.g. 2724, 4056) and have concerns there may be other vaults that are in a similar situation we don’t know about. These should not affect the compensation too much as the collateral ‘should’ be somewhere. (i.e. if this is a problem it is a different problem than we are trying to compensate for with this package).

I am going to work on this under the assumption the data for the most part is intact and correct. I will spot check some individual vaults and will provide the data I punch out on a vault by vault basis for each vault owner wanting to check the data that went into determining their compensation package. If there are errors or discrepancies hopefully these will recify with an auditor and we will deal with on a case by case basis.

My work place is going to be one of the first places to ‘open up’. I start my 64hr 7days this weekend so while I am hopeful I will be able to do work on this in the next few days it just may not be possible. Everything feels so close but each time I get to a new step I have to do a lot of consistency checks on a pretty massive chunk of data. It makes this time consuming and error prone work that for all you vault owners and governance needs to be done correctly.

If it was me as owner of this business I would have handed this off to two professional firms for a fee and by now had this all done and over with for everyone long ago.


:+1: Seconded. Is there anyway that this could be achieved at this point?

Great work by the way appreciate you persistence on this.


Thanks a lot for your persistent work!
Just curious: it looks to me that we have a “complete” analysis for almost all the vaults some time ago and then we noticed several edge cases. I thought we could finish the analysis by just taking the additional data. Why do we have to do the analysis all over again?
Is there anyway the dataset/code can be shared, so that others can contribute?
Many thanks again!

From this blog post

The Maker Foundation’s objective is to bootstrap MakerDAO to ensure the growth and stability of the Maker Ecosystem. The Foundation commits to the following priorities to develop and strengthen the DAO and foster fully decentralized governance:
– Further empower the community to remain committed to the purpose of core governance, especially to the processes required to sustain the health and security of the Maker Protocol and the MakerDAO ecosystem.

Based on this I wonder why the Foundation is so silent while the DAO has expressed its intention to compensate vault holders and is struggling to manage it on it’s own for almost two months already.


Always something new coming up… I have been hearing the same story for months. Just start the compensation for the vaults where you are certain! You guys will always find something to further evaluate the things, I wish you guys would have been as quick with this, as when the foundation was in loss. This is unacceptable


I agree we are just not moving fast enough and it seems like the foundation does not want anything to do with this, at this point i am starting to doubt the compensation is going to happen and that were just being strung along.


Since this issue is resolved now, what is the next issue?

@Peter_Albrecht, @hsingh21, @uvizhe
Maker is not really decentralized, it has its own CEO, Rune.
I think we should get united and speak out in the wilder community, otherwise they just ignore us.