Risk Core Unit Month in Review: September 2021

This post summarises the tasks, work, and activities of the @Risk-Core-Unit for the month of September. Our primary focus this month is outlined below.

The Nexo Institutional Vault Risk Evaluation has now been published to the forum. The next steps are to await PE to set up the required infrastructure and to confirm the risk parameters after migration.

The governance process for offboarding certain collateral from Maker is continuing. Two signal requests were posted on the forum regarding this matter.

  1. Offboarding process for USDT Collateral types (USDT-A, UNI-V2-ETHUSDT-A, and UNI-V2-DAIUSDT-A). The on-chain polling passed on September 30.
  2. Offboarding MANA-A, BAT-A, ZRX-A, LRC-A, UNIV2-LINKETH-A and UNIV2-AAVEETH-A. The offboarding process will continue to on-chain poll on October 4 for the following collateral: BAT-A, ZRX-A, LRC-A, UNIV2-LINKETH-A and UNIV2-AAVEETH-A. For MANA-A there will be no further action at the current time.

A signal request which proposes the activation of DC-IAM for PSM-PAX-A was posted on the forum. The executive containing this proposal passed and was executed on September 21.

A report on the newly formed concept of Maker Vault Protection Scores was published this month. The report attempts to create a methodology for assessing vault level risk. Read more here. This continues the research initiative on different aspects of Maker Vaults (1, 2, 3).

Several updates and improvements to the MakerDAO Risk Dashboard were undertaken. These include (i) historical vault stats graph, (ii) liquidation score integration, (iii) moving the risk model simulation natively to the dashboard, and (iv) adding DAI trades (DAI peg) statistics. Learn more about the updates here and here.

This is the second monthly summary published by the Risk Core Unit. To read last month’s summary, click here. We will continue to update the community on a monthly basis going forward. We value any questions, specific requests, or suggestions regarding these updates. Please add any comments below or get in touch directly with members of the @Risk-Core-Unit.

Collateral Onboarding Risk Assessments

Other Analyses

Signal Requests


Community Engagements on the Maker Forum

Maker Dashboard

Pending Work

This section covers pending and not yet finalized work in addition to investigative analyses of certain proposals.

  • stETH/ETH Curve pool (Cropjoin) Investigation
  • Deco Protocol Investigation
  • Collateral Framework Continuous Ranking
  • D3M Risk Dashboard
  • Further development of Maker Vault Protection Scores
  • Part of a group developing a Framework for Institutional and Treasury Vault types
  • Genesis Institutional Vault Investigation
  • Celsius Institutional Vault Investigation

To read more about previous work and engagement from the Risk Core Unit, please visit our forum archive, where we document all relevant topics and discussions that the Risk Core Unit participates in on the Maker Governance Forum.