SAS-001 Incubation Recap - Milestones and Key Learnings

SAS-001 Incubation Recap - Milestones and Key Learnings

Today is our first day of being an official core unit, after just graduating from the SES Incubation program. It’s a good time to give a quick recap of the incubation time by sharing our key learnings and milestones.

How it all started:

Despite being a user of Dai for a longer time, we never consciously considered that working for a DAO is a feasible option. We had the desire to be part of the whole space and were lucky that exactly at the time we were looking around for opportunities, the incubation program started.

Joining the incubation process

After a few interviews, we joined the incubation at 21st June 2021

Most of our team already worked together for several years, but we didn’t know how we can best contribute to the DAO. The first months of the incubation program helped us to identify the best fitting topic: Auctions and Liquidations.

Why Auctions and Liquidations

For this topic, robustness is very important, to function even in worst-case scenarios. Therefore, it is necessary to craft and test solutions very thoroughly, which matches our preferred approach to software development.

It’s also great that this topic involves interfaces (UIs and APIs) for different user groups. We do care a lot about accessibility and creating intuitive interfaces.

Lastly, we saw that relevance and complexity of auctions and liquidations will likely increase overtime, as we expect the DAO to move towards the top right of the following Image:

Our First Product for the DAO

We were happy to launch a first MVP during the incubation program: It’s the first Maker User Interface that facilitates participation in collateral auctions via flash lending.

Below you can see a demo from @lukass showing you how to swap into profit with no capital required.

Participation on the first real auction and swapping into profit through our UI

On the 16th November, we were able to successfully participate in an auction on mainnet via our UI. After gas fees, this made around 247 DAI profit, but most important: We were able to test and validate functionality in real life circumstances.

Organizing us as a Core Unit

The incubation helped us to have a clear Mission, Vision and Strategy for the Sidestream Auction Services Core Unit (MIP 39)

We also have things like communication structures and a roadmap established, which we will shortly share in another post. So, the transition from incubation team to core unit will hopefully go smoothly.

We look forward to contributing to the future success of MakerDAO!


Congrats and welcome onboard SAS!! Glad you’re here–much needed.

Took around 578,932 in Gas–is there any future where the Gas can be lowered–or, we’ll just have to wait for perhaps a pivot to L2, or ETH 2.0?

Also, safe to assume that we can measure Gas cost for your product w/this analysis created by the Risk team?

Thank you in advanced!


Thank you!

For the beginning, we focused on providing just one route via one DEX, so there is potential to optimize Gas by having more routes through more dexes and dex aggregators like 1inch. It’s very important imo, so that there are more routing options and therefore more liquidity and lower Gas especially in extreme market circumstances. Adding those is on our roadmap.

Thanks for pointing to the overview, we have to look a bit deeper into that and will get back with a more educated answer about it later.