Delegate Address: monetsupply.eth - 0x8d07D225a769b7Af3A923481E1FdF49180e6A265
External Website: https://twitter.com/MonetSupply
- Expand DAI supply and market share
- Build bridges between Maker and other protocol communities
- Minimize risk of DAI holder losses
My perspective as a potential MakerDAO delegate is driven by the core values outlined above. I’ll try to break them down here to give insight into my future decision making.
Expanding DAI supply and market share - I firmly believe that Maker can’t be financially sustainable at its current scale. We’ll need a substantially larger DAI supply before we can cover our fixed costs and reach a point of positive unit economics. With this in mind, I’m ok to invest into growing our supply and market share even if this leads to negative cashflow in the short to medium term. I see Maker sort of like Amazon or other platform economy companies in the early 2000s - we should be comfortable investing in growth even if this requires raising capital or selling MKR, because this is what will allow us to become financially self-sustainable in the future. That being said, we need to stay focused on cost control so we can reach this crossover point as soon as possible.
Building bridges between Maker and other communities - Beyond competing on price, Maker also competes with other lending or stablecoin offerings based on relationships and narratives. We should focus on building strong ties with other communities, so they can feel invested in our success and have the confidence to incorporate DAI as a key part of their protocol. This goes beyond token listings, and could include co-sponsored grants, self regulatory organizations, or other shared initiatives to drive the space forward.
Minimize risk of DAI holder losses - In my view this is the most important responsibility of the Maker protocol. We offer the safest stablecoin available today, with diversification of collateral, sound governance, and a credible risk backstop from MKR holders. This gives us a huge benefit where people are willing to hold DAI without any intrinsic subsidy from MakerDAO (such as the DSR, which is currently at a nominal 0.01%). Maintaining this focus on safety is not only the right thing to do for users, but also benefits our economics (greater net interest margin for any given stability fee we charge) and regulatory positioning (a safe and sound system is less concerning to prudential regulators). Decisions that benefit MKR holders at the expense of DAI holders are likely to be self defeating over a long enough timeframe.
I hold financial stakes in a broad range of tokens and crypto assets. Most holdings are in my public ENS account monetsupply.eth. I also hold small amounts of BTC plus assets from Cosmos, Polkadot, and Solana ecosystems. Holdings include Maker protocol competitors such as COMP and AAVE.
I have made investments in certain projects / companies on terms not available to the public. This includes:
- 10 ETH investment into LidoDAO LDO tokens (terms posted publicly here)
- Investment of less than $10,000 into Rabbithole (private funding round)
- Employee stock package from Tally
I’m a core contributor to the Risk Core Unit, and receive income from MakerDAO in this capacity. I also receive employment income from Tally. In the future, I may take part time / contracting work with Aave as part of their proposed risk team.
I’m a reviewer on the Compound and Uniswap grant program committees. Uniswap is planning to begin compensating committee members for their time, so I may receive income from Uniswap Grants in the future.
I participate in several governance protocols beyond MakerDAO. Most of my protocol activity can be seen on Tally here. My voting power currently exceeds the proposal thresholds for Uniswap and Compound governance.
I will make best efforts to update this disclosure statement when there are any material changes. Furthermore, I’ll recuse myself from participation in any cases where I feel I’m unable to make an unbiased decision.
I have read and agree to the Delegate Code of Conduct.
By delegating to me, you acknowledge and agree that I participate on a best efforts basis and will not be liable for any form of damages related to my participation in the Maker Protocol or MakerDAO.