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From YouTube: [AMA] Collateral Engineering with Robert Jordan | Ep. 04
Description
Robert Jordan is a MakerDAO Foundation Transformation Lead with 30+ years of experience in sales, marketing, business development, and the last 20 years in product and engineering development and leadership.
In this AMA, we discuss Robert’s background and experience coordinating the launch of Multi-Collateral Dai and the collateral onboarding process, as well as the productization of Collateral Onboarding with the proposed Collateral Engineering Services (CES) Core Unit.
Collateral Engineering Services Core Unit Proposal:
Core Unit Proposal - https://forum.makerdao.com/t/mip39c2-sp12-adding-collateral-engineering-services-core-unit/8037
Budget - https://forum.makerdao.com/t/mip40c3-sp14-modify-collateral-engineering-services-core-unit-budget/8038
Facilitator Onboarding - https://forum.makerdao.com/t/mip41c4-sp14-facilitator-onboarding-collateral-engineering-services-core-unit/8039
Robert Jordan:
Forum - https://forum.makerdao.com/u/monkey.irish/summary
Chat - @monkey.irish
Discord
MakerDAO:
Chat - chat.makerdao.com
Forum - forum.makerdao.com
Jerry Goldfarb:
LinkedIn - https://www.linkedin.com/in/jerry-g-188a8a210/
Twitter - @JellyProducer
Forum - https://forum.makerdao.com/u/jerryag/summary
Chat - @Jerry.G
*Disclaimer: This update is assembled by the MakerDAO community. This does and should not serve as financial advice or an inducement to vote in any specific way. This update is purely for informative and for communications purposes exclusively.*
A
B
Yeah
thanks
and
first
I
want
to
mention
that
I'm
really
happy
I'm
going
to
be
edited.
So
thank
you,
peyton
for
that
and
the
magic
hands
that
go
on
behind
the
scenes.
I'm
robert
jordan,
I've.
I
am
proposing
the
collateral
engineering
services
core
unit
and
I've
been
with
the
foundation
for
about
two
years
now,
and
so
my
role
inside
of
the
foundation.
B
I
initially
started
as
an
agile
coach
for
all
the
engineering
teams
working
very
closely
with
product
and
engineering
and
other
groups
to
coordinate
a
lot
of
the
efforts
and
really
put
a
a
systemization
or
productization
in
place
to
to
help
us
make
the
donuts.
Better
being
you
know
the
supply
of
dye
and
everything
that
we're
doing
for
the
protocol
and
as
as
that
matured
in
the
foundation,
it
was
really
clear,
as
we
went
to
a
a
transitionary
period
where
the
foundation
was
very
clear.
B
Yes,
doughnuts,
derek
the
foundation
was
shutting
down
or
or
dissolving
is
that
there
was
a
real
need
internally
in
the
foundation
to
have
somebody
organize
and
coordinate
the
effort
between
the
different
teams
that
we
have
inside
the
foundation.
So
I
moved
in
that
role.
Probably
in
october
november
of
last
year,
and
that's
what
I've
been
doing
since
so,
what's
been
really
awesome
about
working
for
maker
is,
is
that
I've
got
a
very
extensive
background
in
information
technology
for
the
past
three
decades.
B
I
I
left
the
traditional
I.t
world,
I
say
traditional,
I
mean
just
being
product
delivery,
just
just
simply
chunking
out
the
software,
putting
the
processes
in
place
working
with
the
teams,
hiring
doing
coaching
and
leadership
that
type
of
work,
and
I
enjoy
that
work.
But
it
was
just
the
industries
that
I
was
working
within,
and
so,
when
I
found
blockchain,
I
just
really.
I
fell
in
love
with
it.
I
fell
in
love
with
the
people.
B
I
fell
in
love,
what
we're
doing
it's
the
wild
west
and
I
felt
as
if
there
was
a
lot
of
my
background
and
skills
that
I
could
apply
toward
this,
this
newer
industry
and
what
we're
doing
and
not
having
to
reinvent
the
wheel
because
a
lot
of
what
I've
learned
and
I'm
bringing
into
the
not
only
the
foundation
but
but
also
in
the
core
unit.
It
just
tried
and
true
best
practices
to
really
help
us
scale,
the
collateral,
onboarding
and
also
the
off-boarding
as
it
relates
to
the
protocol.
B
A
C
B
Sure,
yeah,
that's
great,
so
so
I'll
go
way
back
right.
I'll
get
back
to
the
my
education
and
I
was
educated
as
a
computer
engineer,
and
it
was
interesting
because
at
the
time
when
I
did
graduate
the
the
opportunities
and
and
especially
being
in
engineering,
just
really
weren't
available,
I
mean
I
I
had
the
choice
of
going
to
kennedy,
space
center
and
working
in
cobalt,
or
I
had
a
bunch
of
friends
that
had
that
I
graduated
with
in
college,
and
they
were
out.
B
You
know,
driving
company
cars
and
selling
pharmaceuticals,
and
I'm
like
oh,
I
I
want
to
do
more
of
that.
So
out
of
college.
I
got
a
job
in
in
sales
and
in
the
channel
working
for
microsoft,
and
you
know
just
this
is
back
in
the
in
the
late
80s
and
I
was
there
for
about
seven
or
eight
years,
and
it
was
just
a
an
amazing
time
and
an
amazing
experience
to
to
kind
of
grow
up
within
the
computer
industry,
because
that
was
the
advent
of
so
much
of
what
we
see
today.
B
I've
really
spent
a
lot
of
time
as
it
relates
to
iterative
software
development,
and
I
know
agile,
can
be
kind
of
a
a
tricky
word
to
use
and-
and
I
I
was
trained
very
formally-
there
was
a
company
called
rally-
software
and
rally.
Software
was
really
the
poster
child
for
agile
between,
like
2010,
actually,
you
know
2005
through
2015
or
so,
and
it
was
sold
to
it
to
a
different
company.
But
you
know
the
the
the
processes
and
scrum
and
agile
and
the
transformation
services.
B
I
literally
learned
from
the
giants
that
that
were
in
the
industry
and
it
was
amazing
to
see
and
experience
that
at
that
time,
what
I've
learned
since
then
is
is
that
it's
not
a
one-size-fits-all
process
and
and
as
we
especially
with
maker,
and
when
I
came
on
board
in
the
foundation,
we
knew
we
were
building
teams
not
to
last,
which
was
a
very
interesting
challenge
for
anyone.
That's
done
product
management
or
been
involved
in
the
agile
space.
B
So,
typically,
you
build
teams
the
last
right
and,
and
you
and
you
work
and
you
coach,
and
you
move
you
just
you
orchestrate
right
and
it's
and
it's
it's
a
it's
a
puzzle.
It's
an
art
so
and
there's
a
little
bit
of
a
science,
but
it's
mostly
an
art,
and
so
that
was
a
really
new
experience
for
me.
Knowing
that
our
teams
were
going
to
disband
and
go
on
to
do
something
else,
you
know.
B
Why
that
we're
doing
this
as
well,
and
there
are
checkpoints
and
there's
metrics
along
the
way,
because
not
not
all
collateral
stays
the
same
as
it
goes
through
the
system.
And
so
we
need
to
process
it
and
there's
a
lot
of
conversations
about
off-boarding
collider
and
what
that
means.
And
how
do
we
do
that
right?
B
So
we're
starting
to
see
this
just
naturally
organically,
come
up
inside
of
our
forms,
but
to
put
up,
put
put
some
systemization
and
process
around
that
and
also
be
able
to
talk
specifically
about
how
we're
doing
with
our
collateral,
because
we're
the
supply
side
and
our
our
goal
at
the
end
of
the
day
is
to
generate
supply.
There's
there's
the
pull
through
or
the
demand
side
right,
but
this
core
unit
is
firmly
focused
on
working.
B
You
know,
obviously,
our
core
our
core
unit,
we're
working
very
closely
with
like
protocol
engineering
and
risk
and
governance
and
oracle's
right,
there's
a
lot
of
stakeholders
and,
of
course,
the
real
world
side
of
things
as
well.
There's
a
lot
of
crossover,
a
lot
of
collaboration,
a
lot
of
communication
that
we're
needing
to
do
as
well.
So
I
know
it's
a
lot
of
words,
but
but
it's
it's
again.
I
could
talk
much
more
about
each
of
those
areas
if,
if,
if
there's
a,
if
there's
a
need
to.
B
Yeah
it,
you
know,
for
me,
it's
it's
more
of
of
a
mindset
right,
because
I,
when
I
see
something
I
see
it
as
a
product
now
a
product
is
a
really
tricky
word
and
it's
a
label,
and
these
labels
mean
a
lot
of
different
things
to
a
lot
of
different
people.
Hence
I
found
out
a
lot
of
this
as
I
started,
working
with
the
foundation
and
started
talking
about
these
these
concepts-
and
it
was
you
know,
there's
some
landmines
out
there,
but
conceptually
a
product
for
me
is
something
that
we
can
identify.
B
That
has
a
targeted
use
right,
it
adds
value
and
it
has
a
life
cycle.
Nothing
is
forever,
and
we
all
know
this,
especially
in
the
crypto
industry,
we're
very
short-lived
and
and
they're
the
lie
and
and
and
the
way
that
we
see
the
market
moving
right.
Is
that
we're
constantly
iterating
look
look
at
the
iteration
in
unit
swap
alone
right.
B
You
know
verse
one
versus
two
version:
three
writing
to
keep
up
with
all
of
that,
so
so,
looking
at
at
each
piece
of
collateral
as
a
product,
but
collectively
right,
the
product
is
all
of
our
collateral
and
making
sure
we
have
sound
practices
around
managing
that
through
the
life
cycle.
You
know
part
of
it
is
like
hey
where's,
the
dashboard
that
shows
the
metrics
as
it
relates
to
how
well
we're
doing
on
ether
or
ether
or
whatever.
B
B
Is
that
it's
really
you
know
risk
does
a
great
job
right
when
we
take
a
look
at
the
assessments
inside
of
risk
and
in
that
initial
evaluation,
when
you
start
to
take
a
look
at
like
liquidity
and
like
the
breath
of
depth-
and
you
know
order
books
and
there's
a
there's
a
lot
there.
That,
I
think,
is
super
helpful.
At
that
moment
in
time,
but
we
also
have
a
life
cycle
that
we're
managing
through,
and
so
you
know,
there's
a
lot
of
cooperation
that
we
have
with
risk
as
it
relates
to
this
productization
effort.
B
So
I
hope
I
hope
I'm
directly
answering
your
question
because
it's
you
know,
as
I
compare
it
to
other
industries,
what
I'm
really
you
know
it.
I
just
I
view
you
know
from
from
my
mindset
for
when
I
would
have
been
so
long
on
product
delivery.
Product
delivery
involves
prod
product
product
management,
the
product
owner
side
of
things,
the
engineering
side
of
things
and
also
the
operations
of
of
that.
So
it's
a
three-legged
tool,
stool
between
product
engineering
and
operations
and
the
operations
I'm
talking
about
are
more
specific.
B
Like
devops
right,
you
know
it's
like
it's
like
hey.
You
know.
If,
if
something
happens
inside
of
the
system,
you
know
how
far
can
we
let
it
go
until
we
have
a
systemic
breakdown
right?
You
know
what
what
are
the
margins
for
error
that
it's
like
yeah?
That
thing
happened,
but
you
know
it's
not
a
full-on
emergency
right.
You
know
it's
like
do.
We
need
to
respond
right
now.
There
are
opera,
there's,
certainly
situations
that.
A
A
B
And
there
are
thanks
thanks
pete
for
the
question,
because
it's
it's
really
important.
I
so
back
before
we,
the
community,
really
took
over
the
collateral
onboarding
process.
You
know
we
we
struggled
internally
in
the
foundation
because
it
was
like
you
know.
We
had.
We
had
a
single
collateral
die
right
and
when
I
came
on
board
it
was
shortly
before
the
multi-collateral
die
launch
and
and-
and
it
was
interesting
because
during
that
time,
as
you
can
imagine,
there
was
a
lot
of
conversation
about
like
wow.
B
B
So
I
just
wanna,
you
know
kudos
to
everyone
that
was
involved
in
doing
the
actual
work
to
put
that
together,
but
we
we
always
knew
that
that
the
the
community
was
going
to
iterate
on
that
and
we've
gotten
to
a
point
where
I
think
we're
there
now
you
know
so
I
even
yesterday
I
just
wanted
to
to
review
those
documents.
Again.
B
But
I
won't
talk
about
that
right
now,
I'll
get
to
that
in
just
a
moment.
So
so
crypto
native
assets
is.
That
is
that
you
know
you
really
hit
the
ceiling
pretty
quickly
and
then
and
then
for
us,
it's
a
matter
of
like
what
makes
sense
to
onboard
as
it
relates
to
collateral-
and
I
do
appreciate-
I
mean
part
of
the
process
and
the
feedback
that
we
have
into
the
proctization
cycle
is
absolutely
from
the
community
and
bringing
all
that
feedback
and
input
into
that
the
green
light
polling.
It
is
very
helpful
to
do
that.
B
The
actual
implementation
from
a
business
perspective.
It
really
can
vary
based
upon
what
we
want
want
to
do
and
what
we
want
to
maintain,
because
you
know
we
take
a
look
at
like
you
know,
it's
the
protocol,
engineering
group
and
the
oracle
group
right.
They
have
a
lot
on
their
plate,
and
so
it's
it's
really
important
that
that
we
and
and
it's
great
to
have
support
behind
something
as
it
relates
to
collateral.
But
what
is
it
going
to
actually
do
for
the
protocol?
B
And
so
it's
it's
making
sure
that
we're
always
being
very
attentive
to
that
process
and
working
very
closely
with
with
the
other
core
units
that
are
involved
in
in
helping
onboard
the
collateral.
And
so
so
then
the
crypto
native
assets
is
is
the
one
area,
and
I
really
want
to
do
a
healthy
look
at
what
we
have
and
what's
in
the
green
light
poles
and
really
what
makes
sense
to
onboard.
And
it's
part
of
that
process
I'm
going
to
mention
this
now,
but
it
applies
toward
real
world
as
well.
B
B
I
mean
it's.
A
trust
relationship
is
really
what
this
comes
down
to
and
I'm
not
asking
for
the
world
on
day
one.
But
it's
a
crawl,
walk
and
run,
and
I
think
you
know
others
have
suggested
the
same
where,
where
this
gets
opened
up
a
little
bit
more
and
it's
based
upon
how
well
we
do
as
a
core
unit
and
the
success
or
not
that
we
have
from
that.
So
so.
For
me,
one
of
the
things
I'd
like
to
figure
out
is
is
that
how
do
we
add
more
autonomy
to
the
process
in
a
way?
B
B
And
so
I
think
that
there's
a
really
important
aspect
of
of
growing
that
side
of
the
business
and
figuring
that
out.
I
know
it's
early
and
I
know
we're
experimenting
and
I
appreciate
all
the
work
that
everyone's
doing
there,
but
like
how
do
we
figure
out
how
to
accelerate
that
and
and
right
now
I
know
it's
hard
to
find
patterns
because
that
type
of
collateral
when
connected
the
real
world?
B
It's
it's
so
challenging
because
it's
like
if
something
happens
off
chain.
How
does
that
reflect
it
on
chain
and
all
the
the
nuances
that
happen,
especially
from
a
legal
perspective,
but
I
truly
believe
I
mean
this
is
a
smart,
smart
group
of
people
across
all
of
our
core
units,
and
I
really
do
believe
that
we'll
figure
it
out.
It's
just
a
matter
of
time.
Hopefully
that's
helpful
in
answering
your
question.
A
B
Yeah
and
it's
and
it's
a
great
one,
because
you
know
for
me:
it's
like:
where
are
the
you
know,
we
talk.
Generally
speaking,
we
talk
a
lot
about
different
areas
of
real
world,
and
so
my
my
big
question
is:
is
that
where
are
the
true
buckets
of
money
for
us
to
access
today?
Right?
That's,
that's!
That's
the
assessment
and
the
analysis,
and,
and
I
I
know
there
are
others
that
that
definitely
have
an
opinion
and
a
bias
as
it
relates
to
this
and
and
on
on
a
macro
level.
B
One
one
of
one
of
the
goals
is
that
and
that's,
and
I'm
gonna
sidetrack
for
just
a
moment
because
it's
like
what's
important
to
mention
is
that
the
team
right.
So
it's
it's
me
right
at
the
moment
and-
and
there
is
the
team
is
consisting
of-
I
am
pulling
on
board
two
advisors,
one
of
which
I've
identified
and
I'll
share.
B
Shortly
with
that
and
then
there
there
are
permanent
team
members
and
there's
a
concept
of
some
variable
team
members,
and
an
inside
of
that
is
that
it's
just
not
the
technology,
that's
important,
although
it's
a
big
component
of
that
right.
It's
it's
making
sure
from
a
product
perspective
that
we're
managing
it
the
way
that
a
product
would
need
to
be
managed
and
part
of
that
is
identification
right
and
to
understand
under
just
purely
understanding
the
market
right
understanding
where
those
big
buckets
of
money
are
at
understanding.
B
How
accessible
it's
great,
that
we've
got
trillions
of
dollars
of
of
assets
and
real
estate
available,
but
is
it
truly
available
and
how
much
time
should
we
really
spend
there?
I'm
not
saying
the
current
work
that
we're
doing
there.
Anything
against
that.
I'm
just
that's
just
the
questions
that
I'm
going
to
be
asking,
and
so
I
have
the
ability
you
know.
I
have
a
business
background,
a
technical
background.
B
How
and
what
do
you
need,
and
when
do
you
need
that,
because
when
I
talked
to
sub
about
this,
it
was
really
clear
is
that
you
know
he's
going
to
be
looking
for
help
to
be
able
to
implement
some
of
what
he's
implementing
right.
You
know
he
might
have
budget
to
go
out
there
and
hire
some
contract
engineers
or
you
know
I'll,
raise
my
hand
and
say
hey,
you
know:
how
can
we
help
you
right?
So
it
again?
B
It's
it's
a
it's
an
engineering
services
group
that
allows
us
to
to
much
more
quickly
be
able
to
get
to
the
end
goal
of
creating
supply,
and
so
the
specifics
around
you
know.
I
have
many
ideas
because
of
just
contacts
that
I
have
in
my
background.
Like
you
know,
when
I
take
a
look
at
like
trade
receivables
as
an
example
right,
I've
got,
I've
got
some
very
close
relationships
in
that
area
and
it's
a
huge
industry.
B
You
know,
as
you
relate
to
trade
receivables
and
factoring
insurances,
that
go
on
top
of
that,
but
is
it
something
where
we
can
we
can
generate
supply
off
of
and
how
challenging
is
that?
Because,
when
you
talk
to
experts
in
those
fields,
there's
enough
challenges
outside
of
the
blockchain,
let
alone
trying
to
connect
the
blockchain
into
that.
So
we
have
some
real
challenges
here
and
so
the
low-hanging
fruit
is
the
first
place
that
that
that
it's
it's
most,
the
most
obvious.
B
I
think
you
know,
for
example,
the
work
that
greg
is
doing
is
is
is
is
quite
interesting
right
because
you
know
you
identify
big
buckets
of
money
and
then
you
pull
that
over.
As
an
asset
and
collateralize
that-
and
you
know,
hopefully
things
work,
so
you
know,
and
there
are
there
are
names
behind.
You
know
those
those
assets
are
well
as
well,
but
there's
a
lot
of
risk,
obviously
that
we
have
to
assess,
as
it
relates
to
anything
that
comes
from
the
off
chain
on
chain.
So
I'm
not
giving
any
specifics
on
like.
B
B
There
are
two
focuses
you
know
I
was
initially
looking
for
a
single
product
manager
to
do
all
of
that,
and-
and
what's
really
clear
is-
is
that
no,
it's
really
a
person
to
focus
on
the
native
crypto
assets,
because
that's
that
that
alone
is
enough,
work
right
and
then
there's
also
there's
the
other
side
of
it,
which
is
it's
less
about.
Managing
a
product
and
more
about
finding
where
these
assets
are
right,
collaborating
with
those
those
teams
we
currently
have
on
the
core
units
and
then
being
able
to
extend
that
and
find
other
assets.
B
You
know
through
through
relationships,
you
know
an
individual
might
have
or
I
might
have,
or
someone
on
the
team
might
have
or
someone
the
community
might
have
right.
Let's
just
open
this
up,
because
this
is
just
not
about
who's
on
our
team.
It's
about
the
collective
voice
and
strength
that
we
have
in
our
community.
A
C
B
Yeah,
I
I
put,
I
put
some
other
divided
into
two
phases,
as
it
relates
into
the
mep
and
just
just
as
a
reference
to
everyone
on
the
call.
So
if
you
want
to
get
more
specific,
you
can
see
that
in
the
mip,
but
it
truly
is
about
building
the
team
and
then
so
so
the
transition
from
building
the
team
and
the
kpis.
B
For
me,
you
know
if,
if
supply
is
the
metric,
then
or
the
supply
is
the
goal
right,
the
scale
die
is
that
then
our
metrics
really
need
to
be
focused
around
the
supply
and
in
longer
term
I'll,
throw
this
out
here
now
longer
term.
I
would
love
to
see
an
incentive
model.
That's
based
upon
how
well
that
we're
doing
in
creating
that
supply,
because
that's
really
where
the
rubber
hits
the
road
right.
Everything
else
right.
You
know
it's
it's
like.
B
I
would
look
at
like
what's
the
time
to
first
commit
right
for
for
an
engineer,
and
so
so
when
we
start
to
onboard
collateral,
what's
what's
the
time
to
first
die
right,
you
know
those
types
of
metrics
are
really
important
because
it
shows
us
potentially
where
gaps
are
and
how
well
we're
doing
and
and
so
everything
that
you'll
see,
is
going
to
really
be
geared
around
how
our
supply
is
doing
and
also
like.
You
know,
making
sure
that
we're
winding
down
things
aren't
working
for
us
anymore
right.
B
There
all
are
always
strategic
reasons
for
onboarding
collateral
that
you
know
maybe
doesn't
have
that
big
of
a
marketplace
today,
and
I
get
that
and
I'm
fully
on
board
with
that.
But
there's
also
a
lot
of
opportunity
to
you
know
we
don't
have
an
unlimited
budget,
and
so
you
know-
and-
and
you
know
right
now-
you
know
gas
prices
are
a
little
bit
different
than
they
were.
You
know
a
month
or
so
ago.
B
Right
and
thankfully
that's
the
case,
but
that's
that's
not
always
going
to
be
the
case,
and
I
know
we
have
a
lot
going
on
with
e2
and
layer.
Two
solutions
and
all
that
so
help
is
coming,
but
there's
always
gonna,
be
it's
like
we're,
gonna
outgrow
the
technology
again
and
then
we're
gonna
have
issues
and
then
we'll
solve
those
and
then
we'll
we'll
do
that
again.
So
that's
that's
the
the
nature
of
our
beast.
So
I
just
want
to
make
sure
that
that
you
know
and
then
there's
also
right.
B
You
know
it's
like
how
do
we
deal
with
the
supply
and
layer,
two
solutions
right
and
it's
great,
like
you
know
the
optim
optimism
work,
that's
that's
gone
out.
You
know
recently
and
be
able
to
make
dye
available
there
which,
which
is
which
is
awesome
so
so
again,
my
metrics
and
and
it's
really
working
with
the
team
to
make
sure
that
and
that
we're
doing
the
things
that
we're
committing
to
as
it
relates
to
the
community.
B
B
Only
because
I
did,
I
felt
was
premature
to
be
able
to
define
that,
and
I
think
it
really
does
involve
a
community
conversation
around
what
that
looks
like
right,
because
when
I'm,
I
am
others
in
our
core
unit,
are
participating
in
generating
die
supply.
I'm
not
the
only
team
working
on
that
right,
I
am,
I
see
I
see
my
core
unit
as
being
a
revenue
generating
core
unit,
because
that's
what
we're
doing,
but
I'm
not
alone
in
that,
and
there
are
a
lot
of
people.
B
You
know
I'm
building
on
the
shoulders
of
giants,
and
so
what
does
it
actually
look
like?
So
you
know
if
we,
if
we
on
board,
you
know
another,
you
know
500
million
a
billion
dollars
of
dye
right.
You
generate
that
as
a
supply.
It's
like
you
know:
how
do
we
share
in
that
right
because
there's
there's
a
lot
of
people
involved
in
that
process,
so
so
yeah.
B
So
I'm
again,
I'm
throwing
it
out
there,
because
these
conversations,
I
would
love
to
start
having
and
I'll
start
posting
things
around
that
to
open
that
up,
but
but
I
think
that
there's
been
a
lot
of
challenge
too
around
our
incentive
system
as
it
relates
to
you
know.
Obviously,
the
go-to
is
like
yeah.
A
Yeah
absolutely
and
the
one
area
that's
pretty
tied
with
that,
especially
in
terms
of
multi-team
involvement
and
and
looking
for
big
deals.
The
hot
hot
topic
lately
is
institutional
vaults,
right
like
whether
it
be
for
other
lenders
providing
special
facilities
or
even
treasury
options
for
other
protocols.
A
A
B
Yeah
I
mean
this:
it's
a
great
discussion.
I
haven't
directly
been
involved
in
the
mandated
actors
simply
because
I'm
I'm
still
going
through
the
process,
and
it
I'll
just
give
you
some
thoughts
around
that,
because
when
we
take
a
look,
we
take
a
look
at
collateral
and
attracting
collateral
into
the
system.
There.
There
is
a
you
know
there.
There's
there's
always
going
to
be
incentives
for
for
for
any
target
that
we
go
whatever
bucket
of
money.
There
is
out
there,
there's
always
going
to
be
incentive
structure.
The
the
reverse
is
also
true
too.
B
There
are
some
times
where
you
know
like,
like
sharing
the
costs.
If
you
will,
as
it
relates
to
onboarding
collateral,
is
isn't
far-fetched
either,
and
I've
always
believed
I
mean
one
of
the
things
is
that
you
know
if
we
take
a
look
at
just
just
the
the
collateral
engineering
services
core
unit
is
that
you
know
some
might
believe
like.
B
B
Put
some
very
healthy
guardrails
in
place
where
we
can
enable
third
parties
to
be
able
to
bring
on
collateral
right,
and
so
I
think,
the
institutional
vaults
and
such
start
to
play
into
this
role
really
well,
because
you
know
like
like
we
have
to
get
out
of
the
way
and
and
incentives
are
just
the
nature
of
the
beast.
I
mean
if
we
identify
as
a
community
if
we
want
something
it's
like.
B
We
have
a
dependency
right
now
in
a
certain
collateral
that
I
think
all
of
us
can
agree
that
we'd
like
to
change
right.
So
how
do
we
change
that
right?
Let's,
let's
start
from
what
we'd
like
to
do
and
then
figure
out.
What's
the
what's
the
best
way
to
work
through
that,
I
don't
have
any
like
the
details
and
specifics
as
it
relates
to
institutional
vaults.
B
I
haven't
really
been
involved
in
those
conversations,
but
but
as
as
I
get
onboarded
as
a
facilitator
for
the
core
unit,
I'll
definitely
be
much
more
involved
in
those
discussions
and
have
some
some
thoughts
and
opinions
as
it
relates
to
that.
But
but
I
I
want
to
make
sure
the
front
you
know
obviously
always
always
attending
to
risk,
because
it's
extremely
important
we've
done
so
well
in
the
protocol,
and-
and
this
is
a
you
know-
I
know
we're
kind
of
the
granddaddy
and
or
the
grandma
on
the
project.
B
You
know
and
then
the
crypto
world,
I'm
okay
with
that
right,
because
it
continues
to
go
back
to
how
great
we
are
as
a
team
of
people
and
the
quality
that
we
take
in
our
work
right
so
kudos
to
us,
and
I'm
I'm
one.
It's
wonderful
to
hold
that
position
right
and
I
know
we
we're
also
working,
especially
with
the
the
protocol
engineering
team
and
the
oracle
team
and
others
to
be
much
more
innovative,
as
it
relates
to
the
work
that
we're
doing
in
our
protocol.
B
A
Definitely
and
yeah,
I
think
it
just
kind
of
highlights
all
the
different
avenues
you
can
really
be
going
down
like
to
me.
I
see
your
core
units
being
pretty
a
pretty
key
coordination
factor,
in
addition
to
kind
of
almost
like
a
an
auditing
aspect
as
well
right,
because
you
have
all
these
different
groups
trying
to
do
their
own
things
and
you're
kind
of
shaping
the
overall
picture.
I
don't
know
if
you
want
to
speak
to
your
thoughts
on
that.
Just
yeah.
C
A
B
It's
it's
a
it's
a
great
comment
and
a
question
because
it's
like
when
I
take
a
look
at
you
know
in
my
conversations
like
with
wilder
and
talking
about
scs
and
the
parallelization
effort,
it's
like
most
of
what
happens
today
right
in
the
erc2
rc
20.
Tokens
that
are
onboarding
is
that
most
of
it
is
is,
is
assessing
it
right,
making
sure
it's
going
to
work
because
we
figured
out
the
system
right,
and
so
you
know-
and
I
think
the
nature
of
our
core
unit
will
also
change
as
well.
So
it's
interesting.
B
They
mentioned
the
auditing
piece
of
it
because
you
know,
as
as
we
grow
and
mature
and
then
gain
trust
from
from
across
the
core
units.
You
know
the
nature
of
what
we
do,
I
think,
can
change
dramatically
as
well
and-
and
I
think
that
each
of
the
core
units
you
take
a
look
at
protocol
engineering
and
our
goals
and
risk-
is
that
you
know
we
know
we
have
to
onboard
collateral
and
it's
a
component
of
what
each
of
those
groups
do.
B
But
it's
not
the
only
thing
that
they
do
and-
and
you
know,
as
I've
I've
explained
to
with
the
nick
and
with
eric
and
chris
and
others-
is
that
hey
we're,
we're
looking
to
come
in
and
help
right
and
as
we
gain
trust
from
the
core
units
in
the
community
will
determine
what
work
can
can
transition
into
the
collateral
engineering
services
core
unit
right.
It
doesn't
mean
that
we
exclude
anybody,
but
we
have
to
get
into
a
mode
of
parallelization.
B
I
think
that's
one
of
the
aspects
when
I
see
what
water
is
doing
in
scs
and
and
the
work
with
magic
and
and
others
is
that-
is
that
we
we
I
mean
in
the
real
world,
like
you
know,
my
background
has
always
been.
We
have
multiple
teams
working
on
the
code
base.
At
the
same
time
now
it's
challenging
right.
There
there's
and
there's
some
inherent
challenges
as
it
relates
to
to
to
to
ethereum,
right
and
and
and
just
the
way
that
that
everything
works
in
our
world.
B
What
you
can
see
is
that
you
know
a
very
strong
auditing
function
inside
of
ces
because
of
you
know
providing
that
level
of
service,
because
you
know
we're
not
really
figuring
out,
or
the
core
units
aren't
figuring
out,
how
it's
done,
because
we've
already
done
that
it's
more
templated
or
playbook
oriented-
and
we
just
have
you
know
we
have
a
bunch
of
collateral-
that's
coming
into
the
system
right.
So
a
lot
of
from
an
orchestration
perspective
could
be
very,
very,
very
much
a
role
that
we
play
in
the
future.
B
But
again
it's
going
to
take
its
shape.
The
way
it
does.
We
know
how
this
industry
works.
I'm
just
excited
that
that
we're
going
to
have
a
focus.
You
know
it's
like
it's
kind
of
like
you
know
what
what
neck
can
I
go
choke
right?
It's
like
what's
the
the
one
area
I
can
go
and
ask
the
question
right
now:
it's
not
centralization.
It's
just
a
consolidation
of
a
lot
of
different
functions
into
one
area,
but
everyone
has
has
the
ability
to
check
in
with
that.
A
Definitely-
and
I
reflect
a
lot
about
this
kind
of
concept
of
taking
responsibility
for
certain
aspects-
you
know
where
it's
not
that
you're
trying
to
be
the
only
one
in
charge,
but
you're
rather
saying
hey,
you
know
I'm.
I
want
to
make
sure
this
gets
done
because
there's
a
lot
of
different
moving
pieces
and
you
need
to
have
someone
who's
going
to
be
accountable
to
community
saying
you.
C
B
I'm
agreeing
to
do
this
right
and
I'm
making
that
commitment,
and
then
others
are
doing
the
same
thing
in
their
areas
and
then,
and
we
agree
to
meet
in
the
middle
and
have
that
communication
and
collaboration,
and
what's
so
important,
is
that
we
know
that
things
change
and
so,
as
things
change,
we
continue
to
communicate
because
milestones
are
milestones
right
and
and
we
yes,
we
don't
want
them
to
move,
but
there
are
unexpected
things
that
do
happen.
So
communication
is
such
a
key
aspect
as
it
relates
to
this,
and
and
especially
this
core
unit.
B
Collaboration
amongst
the
other
core
units
is
so
amazingly
important
and
that's
one
of
the
things
that
I
bring
in
from
the
foundation
because
my
role
has
been
since
the
day
I've
been
in
the
foundation
has
been
one
of
of
communication
and
collaboration
between
all
of
the
different
groups
inside
and
especially
through.
You
know
as
we
as
we
transitioned
out
into
the
community
and
now
the
dissolution
of
the
foundation.
B
B
If
you
were
to
take
out
what
we
do
as
a
foundation.
What
would
you
do
with
it
right?
What
would
you
do
with
it
and
a
lot
of
a
lot
of
what
you're
seeing
it
it
kind
of
flowed
out
of
that
process
and
and
some
of
the
core
units,
and
it
really
got
people
thinking
about
how
you
know?
How
would
someone,
how
would
a
group
move
into
the
community
and
and
start
to
provide
services?
B
I
have
something
to
share
with
you
right
and
and
to
provide
that
level
of
feedback
and
input,
because
you
take
a
look
at
like
the
talent
that
we
have
in
this
organization.
It's
amazing,
it's
absolutely
amazing
right
and
I'm
not
going
to
be
the
person
that
steps
in
tells
a
smart
contract
engineer
like
hey.
You
know
check
out
this
code
over
here
or
do
this
differently.
That's
that's!
A
B
Model
in
general
yeah.
I
love
this
question
because
I
I
so
I'll
talk
about
what
I'm
seeing
right
now
I
see
a
number
of
inefficiencies
that
I'm
a
little
bit
concerned
about
and
I'll
start
there
because,
for
example,
when
we
in
the
governance
risk
call
yesterday,
you
know
the
conversation
said
was
was
was
proposing
as
far
as
the
corporate
structure
or
the
structure
for
for
the
core
unit-
and
you
know
it's
like
that's,
not
unique
to
that-
just
his
core
unit,
because
we
all
share
that
risk.
B
So
I
get
a
little
concerned
about
the
duplication
of
work
and
and
and
the
efficiencies
associated
with
that.
So
that's
one
of
the
things
I
I'm
I'm
I
got.
I
have
an
eye
on
because
it's
like
yes,
each
core
unit
needs
to
do
the
best
thing
for
themselves
and
for
their
teams,
but
the
same
time
is
that
and
yes
we're
in
a
decentralized
world.
Yes,
I
get
all
those
things,
but
there's
the
efficiencies
that
we
also
have
to
take
a
look
at
and
there's
there's
real
money
right.
B
B
Thank
you.
Thank
you.
In
that
I
outlined
a
lot
of
my
thoughts
and
feelings.
I
did
decide
to
move
forward
in
the
dual
role
because
I
think
it's
necessary
for
now,
but
I
think
in
the
future.
I
think
the
future.
I
do
see
these
roles
as
being
separate,
I
think,
as
a
facilitator
and
and
a
head
of
a
team
lead
ceo,
whatever
you
want
to
call
it
of
a
core
unit.
I
think
they
are
two
separate
roles
and
I
think
over
time
that's
going
to
happen.
B
I
think
we're
going
to
see
the
necessity
of
that
and
so
up
and
up
for
me,
I'm
just
being
very
transparent
about
what
I'm
doing
and
how
I'm
doing
it
and
I'm
looking
for
feedback,
and
I'm
also
for
me
just
right
now.
My
stated
direction
is
to
do
these
roles
and
then
I
will
in
a
short
period
of
time
I
will
move
into
the
ceo
role
of
the
core
unit
and
backfill
my
facilitator
role
at
some
point
once
things
are
up
or
running,
and
it
really
makes
sense
to
do
that.
D
B
B
There
are
two
variable
people
and
the
ver
variation
is,
and
I've
outlined
it
in
the
budget
as
well
as
far
as
it's
like
a
650k
uplift
that
I'm
not
quite
sure,
is
gonna
sit
in
that
budget
based
upon
the
initial
conversations
that
I've
had
with
other
core
units,
because
one
of
the
challenges
that
we
face
is
that
people
that
are
experienced
in
engineering
are
coming
into
the
blockchain
world,
and
we
want
that
to
happen,
but
don't
have
any
experience
in
the
maker
protocol.
So
from
a
collateral
perspective.
B
B
D
So
speaking
of
working
in
parallel
tracks,
since
this
involves
smart
contracts,
you
know
this
involves
smart
contracts
works
but
at
work,
but
I
don't
see
any
allocation
for
audits
and
bug
bounty
and
I
believe
it
says
that
you'll
be
leaning
on
protocol
engineering.
For
that,
can
you
talk
a
little
bit
more
about
that.
B
The
only
reason
why
that
I
put
that
in
there,
because
at
the
moment
and
when
I,
when
I
talk
with
like
like
nick
and
mark
andre
and
derek
and
chris,
is
that
they're
still
going
to
continue
to
do
that
for
for
the
near
term,
and
and
until
that
team
is
hired
and
then
you
know,
there's
an
element
of
trust
in
like
the
thumbs
up
right.
You
know
of
like
curt
and
crisco.
You
know
yeah
on
on
people
on
team.
B
That
then
we'll
all
know
that
hey
you
know
certain
those
parts
of
those
functions
will
be
able
to
migrate
into
the
the
the
ces
core
unit.
But
until
that
happens,
those
folks
are
still
going
to
continue
to
do
that.
So
in
some
respects,
it's
like
I'm
organizing
work
for
other
core
units.
Initially,
that's
okay,
because
I
think
that
that
type
of
consolidation
is
needed,
but
as
we
as
we
click
forward,
you'll
see
more
of
that
move
into
the
core
unit
where
appropriate.
B
It's
it's
a
question
that
specific-wise.
I
can't
do
that
now
until
I
have
the
team
built
and
know
exactly
what
I'm
dealing
with
in
the
way
of
life.
So,
for
example,
when
I
take
a
look
at
doing
product
backlog,
work
and
breaking
down
work
and
estimating
that
work,
those
estimations
are
based
upon
the
types
of
people
that
I
have
involved.
So
I
mean,
as
a
general
perspective.
B
We
can
assume
that
that
that
basic
work
right
where
the
erc20s
you
know
it's
very
tried
and
true
a
lot
of
it-
is
just
assessing
to
make
sure
that
that
that
what
we're
putting
in
the
code
is
going
to
work
and
then
the
other
perspective
is
that
we're
working
directly
with
the
real
world
groups.
You
know
greg
matthew,
seb,
others
that
pop
up
to
be
plugged
in
to
know
like
what.
What
are
you
going
to
be
needing
as
as
we
get
ramped
up
and
we
have
engineers
on
our
team?
B
What
are
you
going
to
need
needing
as
it
relates
to
smart
contract
development
work?
Yes,
some
of
that
might
be
protocol
engineering
right
because
it
might
be
complex
and
touch
a
lot
of
different
parts
where
they
feel
like
they're,
the
most
qualified
people
to
do
that
other
other
pieces
of
that
will
naturally
fit
into
our
group.
So
it's
really
hard
to
to
give
any
throughput
figures
or
or
metrics
at
this
moment
without
without
really
getting
into
and
building
those
product
backlogs.
B
Once
we
do
that,
it's
going
to
be
completely
transparent,
it'll
be
a
clubhouse
board,
it'll
be
up
there.
You
know
we'll
be
tracking
this.
You
know
we'll
be
applying
the
the
the
principles
of
agile
and
scrum
development.
You'll
see
that
you'll
see
our
throughput
you'll
see
what
we're
working
on
all
that
will
be
transparent
to
the
community.
B
The
the
mix
change
a
little
bit
just
based
upon
the
types
of
people
that
we
find
so,
for
example,
I'd
love
to
find
someone
like,
like
a
gray
guy
as
an
example
that
you
know
is
not
quite
a
product
person,
although
it's
like
a
business
development
analyst,
you
know
that
that
can
really
it
has
the
contacts
that
knows
that
industry
can
find
those
buckets
of
money
right.
I'm
not
sure
that
person
exists
out
there
or,
but
you
know
we
kind
of
keep
that
you
know
in
the
background.
B
If
we
do
come
across
someone
like
that,
but
but
primarily
it's
focused
on
on
on
the
smart
contract
development
work
as
it
relates
to
you
know.
Obviously
what
protocol
engineering
is
doing,
what
oracle
is
doing
and
some
of
what
is
risk
is
doing
right,
because
risk
would
do
risk.
You
know,
regardless
of
of
what
we
do.
D
So
I
am
looking
through
your
budget
and
between
suggest
you
the
request
for
maker
vesting,
which
is
valued
at
a
conservative
about
2
000
maker,
I'm
just
doing
the
math,
and
it
looks
like
between
salaries
and
maker.
Even
at
a
2
000
evaluation
maker
puts
you
north
of
550
000
per
head
is,
can
you
maybe
just
give
us
a
little
more
granularity
as
to
why
that
much
is
needed.
B
So
you
know
smart
contract
contract
engineers
are
really
expensive
and
the
vesting
schedule
you
know
follows
the
vesting
schedules
of
of
any
of
the
other
smart
contract
engineers
that
are
in
the
other
core
units.
So
without
without
I
mean
I'd,
have
to
you,
know,
really
drill
in
and
pull
up
the
spreadsheet
and
give
some
various
specifics.
I
can
do
that.
I'm
happy
to
do
that,
but
but,
as
a
general
comment,
that's
that's
where
the
budget
stands
as
it
relates
to,
especially
those
people.
A
Awesome
and
thanks
for
bringing
those
in
babe
notice,
we
are
here
at
the
top
of
the
hour.
I
guess
some
important
things
to
note.
This
is
going
into
the
formal
submission
vote
starting
monday
as
a
core
unit
nip
set,
so
there
will
be
two
weeks
for
for
people
to
get
out
there
and
and
vote
on
the
collateral
engineering
services
core
unit.
B
Yeah,
first
off,
I
just
appreciate
the
opportunity
to
be
able
to
make
the
transition
from
the
foundation
into
into
the
dow.
I
just
it's
an
amazing
group
of
people,
and
I
was
so
excited.
You
know
initially
myself
when
I
saw
like
oh
wow,
we're
really
gonna
dissolve
the
foundation.
This
is
really
gonna
work.
B
I
was
very
skeptical
and-
and
I'm
so
encouraged
now,
because
the
people
that
I
so
respect
inside
of
the
foundation,
a
lot
of
those
people
have
transitioned
off
into
the
dow
and
they're
very
committed
and-
and
I
just
I
am
so
encouraged-
to
be
working
side
by
side,
not
only
with
the
people
in
the
foundation
that
I've
worked
with
in
the
past,
but
also
new
people
in
the
community
and
and
it
you
know.
For
me,
as
you
get
to
know
me,
you'll
find
that
I'm
very
fair
and
very
balanced.
I
ask
a
lot
of
questions.
B
You
know
I
do
have
thoughts
and
opinions
and
a
lot
of
times
they
don't
apply,
because
you
know
I
always
try
to
look
at
like
who
has
the
best
context
for
the
subject
matter.
Right
I'll
push
people
to
make
a
decision
right,
but
it's
it's
really
important
that
that
we
that
we
as
as
a
community,
we
recognize
that
there
there
are
so
it's
like
delegation
right.
B
Why
would
you
delegate
you
delegate,
because
you
trust
people
and
their
opinions
and
also
to
get
the
job
done,
and
the
same
is
true
here
so
so
I'm
just
really
excited
to
be
part
of
this
community.
Thank
you
for
the
opportunity.
If
you
do
have
questions
about
anything
in
the
mips,
please
reach
out
to
me,
I'm
more
than
happy
to
answer
your
questions
and
and
vote
vote.
Yes,.