Weekly Relay: January 4 - 10, 2022

Hi everyone, thanks for checking out the Weekly Relay! Whether you hold MKR or DAI, own a vault, or want to get more involved in governance, this is your one-stop shop for MakerDAO updates.

:tea: Current Events

:ballot_box: This Week in Governance

:diving_mask: Community Deep Dai-ve

:calendar: Mark your Calendar

:anchor: Useful Links

:studio_microphone: Have Feedback?

:tea: Current Events

Volatility in markets ramps up liquidations

The recent drop in the cryptocurrency market has left several vaults undercollateralized, kicking off dozens of liquidations over the last two weeks.

To participate in auctions, check out MakerDAO’s Auction Portal from the SideStream Auction Services Core Unit, and please see MakerBurn for more information on individual auctions.

New Silver shares bright outlook for 2022

@prankstr25 recently posted an update from New Silver on their efforts to onboard Real-World Assets to the Maker Protocol.

In December, New Silver received 247 applications and closed on 16 loans. Those loans represent $3.7 million in volume at an average interest rate of 8.7% over 12 months.

New Silver’s debt ceiling stands at 20 million Dai, of which 10.7 million has been used.

21 new polls up for vote!

Twenty-one new polls are going up for a vote this week. Five of the polls end on January 13, and the other sixteen last until January 24.

The polls cover a wide variety of proposals, including Community Greenlight polls for new collateral types, Ratification polls for new Core Units, and changes to a variety of system parameters.

Please head over to MakerDAO’s Voting Portal to read the polls and cast your vote.

Discussion on the use of stablecoin treasury resurfaces with new proposals

@GWintery starts a new discussion on Utilizing USDC in the PSM just days after @GFXlabs published a pair of proposals to onboard US Treasuries as collateral (12-months and 2-10 years).

MakerDAO currently holds over 3.5 billion USDC, 499 million USDP, and 4.9 million GUSD in reserve, thanks to MakerDAO’s Peg Stability Modules (PSM).

@GWintery’s discussion brings up several ways the funds could be used, while the proposal from @GFXlabs would use the funds to purchase US Treasury obligations.

:ballot_box: This Week in Governance


Weekly MIPs Update #69

:calendar: — RFC and FS Dates for reference and existing proposals can be seen here.

  • Ratification polls for the January Governance Cycle are now entering the first week of the voting. These are the eligible proposals for January:

Active Executive Votes

There is currently no active executive vote. The next executive vote will go live Friday, January 14, 2022.

Active Governance Polls

Poll Name Vote Discussion
Prioritize Onboarding a Compound DAI Direct Deposit Module (D3M) Vote Discussion
Raise the Emergency Shutdown Module (ESM) Threshold Vote Discussion
Prioritize DAI Direct Deposit Module (D3M) for Maple Finance Vote Discussion
Increase the Dust Parameter for Select LP Token Vaults Vote Discussion
Proposal - Recover DAI Locked in Optimism Escrow Vote Discussion

Ratification Polls

Poll Name Vote Discussion
Collateral Offboarding Process (MIP62) Vote Discussion
Bug Bounty Program for MakerDAO Critical Infrastructure (MIP64) Vote Discussion
Maker Keeper Network (MIP63) Vote Discussion
Offboarding Content Production Core Unit Vote Discussion
Facilitator Onboarding for RWF-001 Vote Discussion
Onboarding Tech-Ops Core Unit (TECH-001) Vote Discussion
Onboarding Strategic Finance Core Unit (SF-001) Vote Discussion
Development & UX Core Unit Budget - DUX-001 Vote Discussion
Core Unit Budget, SNE-001 Vote Discussion
Modify Core Unit Budget, ORA-001 (Oracle Gas Costs) Vote Discussion
Modify Core Unit Budget - Sustainable Ecosystem Scaling (SES-001) Vote Discussion

Community Greenlight Polls

Collateral MIP9 Poll MIP6 Application
OGN (Origin Protocol) Ends 1/24 4PM UTC Application
OUSD (Origin Dollar) Ends 1/24 4PM UTC Application
RBLD (Robinland Holdings) Ends 1/24 4PM UTC Application
TUSD-PSM (TrueUSD) Ends 1/24 4PM UTC Application
USDap (BondAppetit) Ends 1/24 4PM UTC Application

Check out an ‘at-a-glance’ view of the current Vault types and their parameters on MakerBurn

Active Signal Requests

There are currently no active signal requests.

:diving_mask: Community Deep Dai-ve

Tweet of the Week

Forum Insight

Check out the latest Forum at a Glance


:calendar: Meetings and Events

Last Week’s Call Recordings

This Week’s Calls

Governance & Risk

Core Unit Office Hours

  • Join Link | GovAlpha - Mondays 17:00 UTC
  • Join Link | Protocol Engineering - Tuesdays 15:00 UTC
  • Join Link | Content Production - Wednesdays 15:30 UTC
  • Join Link | Growth - Wednesdays 17:00 UTC
  • Join Link | Sustainable Ecosystem Scaling - Tuesdays 15:30 UTC
  • Join Link | Governance Communications - Fridays 18:00 UTC

:anchor: Useful Links

Forum and Maker Chat
Discuss and debate MakerDAO.

Public Call Calender | Public Votes & Event Calendar
Subscribe to both for all public calls, votes, and other reminders.

Participation Tools
Library of useful links for Stakeholders; Protocol analytics, Dai analytics, collateral & liquidation metrics, governance history, and auctions data.

Governance Portal
Voting dashboard for MKR voters.

MIPs Portal
MIPs Dashboard for everyone.

Learning Portal and Technical Documentation
Learn more about the Maker protocol.

:studio_microphone: Have Feedback?

We value your input! Take our survey to let us know what we might be missing or how to do better.

Disclaimer: This update is assembled by a group of contributing members in the MakerDAO community. This does not serve as financial advice or an inducement to vote in any specific way. This update is purely for information and communication purposes only.


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