Planet_X Delegate Platform

Key Info
Name: Planet_X
Forum: @Planet_X
Rocketchat: @planet_x
Email: [email protected]
Delegate Address: 0x00dAeC2C2A6a3FCc66b02E38B7e56dCDFa9347a1

Core Values

  • Scaling
  • Functionality

Delegate Statement
With regards to Maker I believe two things: Maker has to scale and Maker has to function.

Needless to say, Maker is not going to scale unless the organization is first functional. With functionality, I refer to directions that if left untouched will not damage Maker in the foreseeable future. It is a good-enough approach - not perfection. Accordingly, issues such as governance overhead and organizational focus have me worried. This is also why I believe we need to nurture softer aspects like community spirit and culture carefully. Building a community capable of continuously attracting talent is the goal.

With regards to scaling, I am an out-of-the-closet shameless enthusiast. When I refer to scaling I do not mean to settle for the slow organic growth of a few assets per month, I am talking about configurations capable of eventually handling thousands of collateral types per month. Naturally, this is not doable with a system depending largely on human interaction which is why I am a big believer in things like automation, incentives, and staking.

Examples of articles by me involving scaling:
Staking 1
Staking 2
Staking 3
Staking 4
Vault topography
Avoiding Ren Protocol’s mistakes

Examples of articles involving functionality:
Governance overhead
Dependence on major token holders
Shareholder vs Tokenholder

Other work:
Not afraid to sometimes do a hard but necessary job
Telling it like it is
Trying to be constructive

What you get when you delegate to me:

  • Full-time crypto enthusiast, an investor in Maker since 2016.
  • Near-total interest alignment, basically looking after my most substantial investment anyway.
  • High attendance rate

Conflicts of Interest
I hold other cryptos in addition to MKR, but the relative amounts are such that I do not think it will impair my judgment. If significant portfolio changes are made, I will notify the community.

I hereby agree to the Delegate Code of Conduct

17 Likes

Ratification Poll for Declaration of Intent - Onboarding a new collateral type backed by B.Protocol v2 (MIP13c3-SP11) - August 9, 2021 - yes

Ratification Poll for DAI Foundation Core Unit, DAIF-001 - August 9, 2021 - yes

Ratification Poll for Growth Core Unit MKR Budget, GRO-001 (MIP40c3-SP23) - August 9, 2021 - yes

Community Greenlight Poll - RWA-120dB (120dB Films) - August 02, 2021 - Abstain

@g_dip the proposal has passed already but I am voting Abstain on 120db to raise awareness on applications which imho are suboptimal.

pros:

  • 120db has 17 years in Hollywood film finance and I can’t find a bad word about them or the founder on the whole internet.

cons:

  • Really small company, flat growth
  • They ask 4x their entire 2020 investments - much too much
  • If this goes badly I am not sure there are any assets we can seize and resell
  • The deal is more similar to an unsecured business loan than anything else
  • The interest ask is much too low imo, but that is left to Risk to deal with

Comment: this company would likely be better off with a Centrifuge solution.

EDIT 13 Aug 2021:
The ask is less than 1x - I should have looked at the “Principal Deployed” figure.
Assets - 120db loans are secured, tax credits are example of assets that can be resold if necessary.
The deal is not similar to unsecured business loans.

4 Likes

Reduce Vault Liquidation Ratios - August 16, 2021 - yes.
Onboarding PAX Peg Stability Module - August 16, 2021 - yes.
Community Greenlight Poll - CGFF-DROP (Cauris Global Fintech Fund DROP) - August 16, 2021 - yes. But mostly due to the decent TIN ratio.
Community Greenlight Poll - NCP01-DROP (Nebula Capital Partners DROP) - August 16, 2021 - yes.
Community Greenlight Poll - CNC1-DROP (CapitalNow Cannabis DROP) - August 16, 2021 - no. Due to the precarious situation around stablecoin regulations I am not going support this proposal or anything similar until the situation changes. Little upside, huge downside.

1 Like

7 posts were merged into an existing topic: [CNC1-DROP] MIP6 Application: CapitalNow Cannabis DROP: Factoring and Equipment Financing Assets

Lower the Flash Mint Fee (toll) to 0% - August 30, 2021 - yes
Add RWA007 (SolarX) as a new RWA Vault Type - August 30, 2021 - yes

3 Likes

Community Greenlight Poll - RAI (Rai Reflex Index) - September 6, 2021 - yes. Willing to try it.
Community Greenlight Poll - RARE (SuperRare) - September 6, 2021 - yes.

2 Likes

Executive: Parameter Changes, September Core Unit Budgets, DssVest Streams - September 3, 2021 - voted

1 Like

Offboard KNC Legacy Token - September 13, 2021 - yes
Add GUNIV3DAIUSDC1-A as a new Vault Type - September 13, 2021 - yes
Adopt the Debt Ceiling Instant Access Module (DC-IAM) for PSM-PAX-A - September 13, 2021 - yes
Ratification Poll for GovAlpha Core Unit Budget Q4 2021 to Q1 2022 (MIP40c3-SP29) - September 13, 2021 - yes
Ratification Poll for Risk Core Unit MKR Compensation (MIP40c3-SP25) - September 13, 2021 - yes
Ratification Poll for Modify Core Unit Budget - Sustainable Ecosystem Scaling (MIP40c3-SP31) - September 13, 2021 - yes
Ratification Poll for Collateral Engineering Services Core Unit, CES-001 - September 13, 2021- yes
Ratification Poll for StarkNet Engineering Core Unit, SNE-001 - September 13, 2021- yes
Ratification Poll for Development & UX Core Unit, DUX-001 - September 13, 2021- yes
Ratification Poll for Strategic Happiness Core Unit, SH-001 - September 13, 2021- yes
Ratification Poll for RWA Foundations (MIP58) - September 13, 2021- yes

2 Likes

Executive: Collateral Onboarding and Offboarding, PSM DC-IAM changes - September 17, 2021 - voted

2 Likes

Community Greenlight Poll - REIF-DROP (Commercial Real Estate Assets DROP) - September 20, 2021 - yes
Community Greenlight Poll - SB-DDC (Solid Block Detox Digital Coins) - September 20, 2021 - yes

I am voting to greenlight both of these although greenlightning has lost its original purpose. I think the onboarding process could be streamlined to only vote on asset onboarding after both initial screening and risk analysis have been completed. Later assets could be auto-onboarded provided they meet certain criteria.

Adjusting Auction Parameters for ETH-A, ETH-B, ETH-C, and WBTC-A - September 20, 2021 - yes.

The argumentation presented to the community for auction parameter adjustment was very solid.

Increase the System Surplus Buffer - September 20, 2021 - no.

I voted no on this proposal because:

  1. The protocol is presently running an operational loss and so will not fill up the Surplus Buffer to even the previously agreed DAI 60 million any time in the foreseeable future. Accordingly, filling the Surplus Buffer up to DAI 100 million is a theoretical question only. This signal should not even have made it onto the poll.

  2. If anyone is worried about the SEC the poll wording could have been changed to ‘never mint or burn as long as the Maker status with SEC is uncertain’. That is a valid argument, but it is not the question being polled.

3 Likes

Adjusting Auction Parameters and Testing Layer 2 Components - September 24, 2021 - voted

Offboard USDT Collateral Types - September 27, 2021 - yes.

Offboarding USDT Collateral, Core Unit Budget Distributions - October 1, 2021 - voted

1 Like

Offboard the BAT-A Vault Type - October 4, 2021 - Yes
Offboard the LRC-A Vault Type - October 4, 2021 - Yes
Offboard the UNIV2AAVEETH-A Vault Type - October 4, 2021 - Yes
Offboard the ZRX-A Vault Type - October 4, 2021 - Yes
Offboard the UNIV2LINKETH-A Vault Type - October 4, 2021 - Yes
Community Greenlight Poll - CurveLP-stETH-ETH (Curve stETH-ETH LP Token) - October 4, 2021 - Yes

Offboarding Vaults, MKR Vesting, and Core Unit Budget Distribution - October 8, 2021 - voted

Add stETH (Lido Staked ETH) as a new Vault Type - October 11, 2021 - yes
Nexo Institutional Vault Onboarding - October 11, 2021 - yes
PaperImperium Supplemental Compensation - October 11, 2021 - yes but please do not ask this again
Add the Aave Direct Deposit DAI Module (D3M) - October 11, 2021 - yes
Increase the GUNIV3DAIUSDC1-A Debt Ceiling - October 11, 2021 - yes
Community Greenlight Poll - CurveLP-stETH-ETH (Curve stETH-ETH LP Token) - October 4, 2021 - yes
Ratification Poll for Adding the Deco Fixed Rate Core Unit (DECO-001) - October 11, 2021 - did not vote. Can we please postpone this one for a month or two until there is some possible news about SEC rules for crypto?
Ratification Poll for Adding Data Insights Core Unit (DIN-001) - October 11, 2021 - yes
Ratification Poll for Adding MakerLabs Core Unit (SNUNK-001) - October 11, 2021 - yes
Ratification Poll for Implementation of DSS Charter (MIP59) - October 11, 2021 - yes
Ratification Poll for Modify Core Unit Budget, MKT-001 (MIP40c3-SP33) - October 11, 2021 - yes