New Silver Onboarding Executive Presentation

New Silver will most likely be proposed in this Friday executive. A presentation will be given later today in the G&R meeting.

Nevertheless, this is a complex undertaking, with a new asset class (13 pages of risk assessment), huge contractual documentation (100 pages), 2 technical MIPS (MIP21, MIP22) that took 9 months since the MIP6 application.

Therefore, I want to share the presentation early and be happy to discuss any point you need more clarity on. This will help to improve the presentation and the following documentation.


I’ve been following this one and will dig in soon! I’m very excited about a lot of aspects of this (like lack of correlation with ETH, physical world, and the tranche structure of the debt), but may have a few questions about the allowance for concentrated geographic exposure of 30%? I feel a lot of political risk sits there. But let me go through the presentation rather than just old posts. Getting up to speed has definitely made me appreciate the work done by the Risk Team – y’all are human dynamos to work so much and so quickly!


The video presentation given in the G&R meeting can be found here.

Two minor changes since yesterday:

  • The SF is set now to 3.5% as was proposed in the risk assessment, there was a misunderstanding between APY and APR.
  • val is increased a bit to take into account the CR. In any case, the DC is still the thing that matters here.

It is done, the first real-world asset-backed loan from MakerDAO. DAI minted from nowhere against an NFT.

You can follow on MakerBurn, DaiStats or New Silver Tinlake pool


I wish this was Reddit so the RemindMe! bot could help us remember to celebrate the anniversary of this next year


Huge congratulations! This really is one of those historic moments in technology. I can hardly believe it!

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