MakerDAO / Community Collateral Onboarding

MakerDAO Forum Post: https://forum.makerdao.com/t/collateral-onboarding-call-47-blocktower-credit-arranger-ama/17128

BlockTower Credit has published a MIP6 application requesting a $150M initial debt ceiling to fund super-senior, asset-backed credit secured by short-duration real-world loans and credit receivables.

BlockTower Credit is the credit franchise of BlockTower Capital - an SEC-registered digital asset and blockchain investment firm. The firm manages over half-a-billion dollars and draws on decades of experience from ~30 professionals across investment, risk management, operations, data science, software development, legal and compliance functions.

In this session, we hosted:
Kevin Miao @humancapitol, Principal, Head of Credit
Jack Carlisle @JackintheBlox, Principal, Director of Credit
Kevin Chan @blockdataguy, Principal, Head of Credit
Anant Matai @makeybakey, BlockTower Credit Team

[MIP6]: BlockTower Credit (Arranger)
MakerDAO Forum Link to Application: https://forum.makerdao.com/t/mip6-collateral-onboarding-application-blocktower-credit-arranger/16900

Summary of Terms
-Counterparty: BlockTower Credit
-Real World Asset(s): Super-senior, asset-backed credit secured by diversified pools of short duration, real-world loans and credit receivables
-Initial Debt Ceiling: $150MM
-Minimum BlockTower Junior Capital Position: 30% junior capital (TIN) on every exposure
-12-month goal: Demonstrate exemplary performance, scale responsibly, and play a critical role in raising the bar for Maker through RWA arranger efforts and governance participation
-Yield Benchmarks: SOFR (currently 1.53%) or like-term U.S. Treasuries (5-year UST currently ~2.715%)
-Stability Fee: 4% - Fixed

MakerDAO Forum Post Link: https://forum.makerdao.com/t/collateral-onboarding-call-48-gamma-strategies-uni-v3-wbtc-renbtc-mip6-ama/17489

Application Summary
Gamma Strategies published a MIP6 application to enable DAI minting against the Uniswap v3 LP pair for wBTC-renBTC.

Gamma Strategies is an active liquidity manager on Uniswap v3 and creates an ERC-20 wrapper around its managed positions by interacting directly with the Uniswap v3 core contracts. This collateral type is an LP token representing user-deposited assets and the trading fees accrued from providing those assets on Uniswap v3.

For this call, we hosted:
Brian @BP33 from Gamma Strategies

Agenda
-🎙️Intro by @retro
- Presentation by Gamma Strategies
- Community Q&A

Application Excerpt [MIP6]: [UNI-V3-WBTC-RENBTC]
Asset Information
7. How is the asset used and does it give any rights to holders? (e.g. financial claims, dividends, governance rights)

The asset is used as a receipt token given for providing liquidity on Uniswap v3. It gives the holders financial rights to his or her portion of the underlying assets and fees returned from providing liquidity.

Gamma LP tokens are ERC-20 and are minted to users who deposit the base assets (WBTC & renBTC) of the LP pair into the position manager contract called the Hypervisor. The Gamma WBTC/renBTC LP token will be concentrated +/- 20 ticks from a renBTC / WBTC price of 1. (0.9980021 - 1.0020019). In ticks, this would be a lower tick of -20 to upper tick of +20.

Upon a 5% threshold amount of fees collected from the position, the position will automatically rebalance in the same lower and upper ticks. Given the rapid redemption available for both assets back into BTC, the price should not diverge much from parity.

8. What is the market cap for the asset?

The market cap for the WBTC-renBTC LP token would be a function of the marketcaps of WBTC and renBTC. As of August 11, 2022, the market cap of WBTC is 5.9B and the market cap of renBTC is $77.4M according to CoinGecko.

9. Where does exchange for the asset occur? 9.a Provide exchange data on market liquidity, volume and order book depth.

The Gamma WBTC/renBTC LP token can be redeemed for the underlying assets at any time.

10. Is the asset settled on chain (trustless) or off chain (trusted)?

The LP token is settled on chain (trustless)

12. List any possible oracle data sources for the proposed Collateral type

The same oracle that is used for wBTC and renBTC can be used, with the weights according to percentages in the Gamma position. These weights can change based on price movements.

MakerDAO Forum Post: https://forum.makerdao.com/t/collateral-onboarding-call-46-pando-investment-grade-climate-assets/16639

Pando Climate Co. has published a MIP6 application to introduce rated solar loans from Mosaic Solar, Inc as collateral in the Maker Protocol. This application is initially requesting a $220 million debt ceiling.

Pando is built to unleash financing for the age of climate solutions, by tokenizing real world climate assets and offers them as investments. Pando in turn enables protocols and DAO’s to invest in climate solutions, while also stabilizing and growing their treasuries with real-world assets.

MakerDAO Forum Post: https://forum.makerdao.com/t/collateral-onboarding-call-45-backed-finance/16420

Application Summary
Backed-Finance has applied to onboard Swiss-law tokenized short term bond ETFs held as on-chain, permissionless securities. The tokenized ETFs are backed 1:1 with the underlying asset.

The MIP6 application 6 is targeted to start its Greenlight polling on 18-July.
https://forum.makerdao.com/t/mip-6-declaration-of-intent-invest-in-short-term-bonds-proposal-for-implementation/16185

MakerDAO Forum Post: https://forum.makerdao.com/t/collateral-onboarding-call-44-kredika-ama/15573

Kredika is a purpose built legal framework and technology solution to bring real-world assets (RWA) into the domain of decentralized finance. Kredika has recently submitted a MIP6 application 4 to onboard a UK-based diversified portfolio of property-secured loans as collateral through the use of their ERC20-compliant Kredika Tokens. The solutions enabling the Kredika Tokens are custom built, and aim to provide the highest degree of transparency for underlying collateral on a loan-by-loan level.

The team behind Kredika has laid out a 2 stage approach to fully implementing their solution into MakerDAO’s ecosystem. For stage 1, Kredika plans to open a $100M USD institutional vault with the initial focus of comprehensive testing the infrastructure for tokenization and portfolio management.

Stage 2 will introduce scaling solutions, and potentially position Kredika as an arranger for other approved participants to build new collateral pools.

Guests
Max Chmyshuk @Max11 - Co-founder & CEO of Kredika
Artem Tolkachev @ATolkachev - Co-founder & CIO of Kredika
Victoria Vaksman - Chairperson at Kredika
Jon Harrison - CFO & Head of Credit at Kredika

Forum Post: https://forum.makerdao.com/t/collateral-onboarding-call-42-monetalis-mip65-mip68-ama/14829

We hosted Allan Pedersen @Allan_Pedersen and Alessio Marinelli @wrongcomma to lead a discussion on the evolution of Monetalis’s strategy to onboard real-world assets by building a pathway for financial institutions and high-quality investment teams into DeFi.

Forum Post: https://forum.makerdao.com/t/collateral-onboarding-call-43-fei-rari-pools-use-cases/15009

The Fei Protocol submitted a MIP6 to onboard their stablecoin, FEI, as a collateral to the Maker Protocol. The team behind Fei hosted a community AMA to explore the possible use cases for this token within the MakerDAO ecosystem, ranging from a standard vault, D3M, or even a PSM.

Joey Santoro @joey & Brianna Montgomery @bpm6867 from Fei Protocol to lead joined us to host a discussion into Fei v2, the mutual benefits from onboarding, and answer any of the community’s questions.

Forum Post: https://forum.makerdao.com/t/collateral-onboarding-call-40-stakewise-seth2/14676

-Intro by @juan & @retro
-Presentation by StakeWise DAO’s Jordan Sutcliffe @jstar
-Community Q&A

Forum Post: https://forum.makerdao.com/t/collateral-onboarding-call-41-oasis-pro-markets-mip6s-ama/14767

-Presentation by @OasisProTeam
-Community Q&A

https://forum.makerdao.com/t/collateral-onboarding-call-39-d3m-for-notional-finance-signal-request-discussion/13828

- Presentation by Notional Finance’s Teddy Woodward @twoodward.
- Community Q&A.

REIF intends to establish relationships with a number of trusted and reliable asset originators across North America with the intent of supplying risk capital to finance and obtain loan assets backed by commercial real estate. These assets are expected to yield above-market risk-adjusted returns and bear material collateral coverage to protect the assets from downside risk.

The REIF Pool will help finance value-add commercial real estate projects with an average loan amount of $10,000,000 (ten million) for the 1st position product and $500,000 (five hundred thousand) for the 2nd position product. The 1st position product is for acquisition, equity takeout, and refinancing of commercial real estate loans. The 2nd position product is for renovations, development, or leasehold improvements of the properties.

An open discussion where we discuss projects and potential assets for MCD.

Intro by @JuanJuan
Presentation by SAM_CAURIS

"Cauris is a mission driven company that applies advanced technology to solve financial issues while providing high risk adjusted returns to its investors.

We aim to give 100 million more people access to capital. We believe that access to credit is key to empowering individuals and enabling economic growth."

CNC provides asset based financing to the cannabis industry; we specialize in account receivables financing/factoring and are adding equipment financing to our service offering. Traditional financial institutions and service providers have not offered their standard asset-based lending (ABL) services to the cannabis industry due to the inability of their current underwriting process to assess and mitigate risk.

Host:
Forum - juanjuan
Chat - juanjuan

Pep:
Forum - Pep_Ruckpanich
Email - pep@capitalnowcannabis.com

CapitalNow Cannabis:
Website - http://www.capitalnowcannabis.com/

“Nebula Capital Partners LTD (“NCP”) is a UK based investment advisor that was established to focus on investments in portfolios of granular credit assets originated by Western-European FinTech lending platforms (i.e. credit assets originated by technology enabled non-bank specialty finance credit origination, underwriting and servicing platforms).”


Host:
Forum - juanjuan
Chat - juanjuan

Markus Hunold:
Forum - MH_NCP

Nebula Capital:
Website - https://www.nebula-capital.com/
MIP6 Collateal Onboarding Application - https://forum.makerdao.com/t/ncp01-drop-mip6-application-european-point-of-sales-consumer-finance-portfolio/9600

Agenda
Intro by @JuanJuan
Presentation by Joseph McNeila (@Monachil)

MC-DROP Token - Monachil Capital Partners - https://www.monachilpartners.com
MIP6: [MC-DROP] MIP6 Application: Monachil Capital Partners LP DROP: Senior Secured Credit Facility For A Private Credit Fund 1

“Monachil targets sourcing and origination partners that utilize unique and proprietary technology to reach underserved segments of the market, improve risk underwriting, and streamline loan origination.”

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-33-monachil-friday-june-25-3pm-utc/8896

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Collateral Onboarding Call #32: GNO Token

Intro by @JuanJuan
Presentation by @stefangeorge

Agenda: https://forum.makerdao.com/t/collateral-onboarding-call-32-gnosis-wednesday-june-16-17-00-utc/8778

Governance Forum:
https://forum.makerdao.com/​​​​​​​​​

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Collateral Onboarding Call #31: MCO2 Token

Intro by @JuanJuan
Presentation by @renankruger

Agenda: https://forum.makerdao.com/t/collateral-onboarding-call-31-mco2-token-wednesday-april-28-16-00-utc/7615

Governance Forum:
https://forum.makerdao.com/​​​​​​​​​

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Collateral Onboarding Call #30: SolidBlock

Intro by @JuanJuan
SolidBlock - https://solidblock.co

MIP6: [SB-LDB] MIP6 Application: SolidBlock Democratizes Real Estate with London Digital Bonds - A Smart & Tradable Property Investment

Agenda: https://forum.makerdao.com/t/collateral-onboarding-call-30-solidblock-wednesday-april-14-17-00-utc/7052/1

Governance Forum:
https://forum.makerdao.com/​​​​​​​​​

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Collateral Onboarding Call #29: Bancor

Intro by @JuanJuan
Bancor by @markrichardson

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-29-bancor-wednesday-april-7-18-00-utc/7054

Governance Forum:
https://forum.makerdao.com/​​​​​

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Collateral Onboarding Call #28: Synthetix

Intro by @JuanJuan
SNX - https://synthetix.io/

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-28-synthetix-wednesday-february-24-21-00-utc/6650

Governance Forum:
https://forum.makerdao.com/​​​​

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Intro by @JuanJuan
Presentation: Fortunafi - https://www.fortunafi.com/

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-27-fortunafi-wednesday-february-17-18-00-utc/6295

Governance Forum:
https://forum.makerdao.com/​​

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Intro by @JuanJuan
REINNO - https://reinno.io/

MIP6: [REINNO] MIP6 Collateral Onboarding Application

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-26-reinno-wednesday-february-3-18-00-utc/6242

Governance Forum:
https://forum.makerdao.com/​

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Intro by @JuanJuan
Presentation: Lido - https://lido.fi/ 2

The Lido Protocol, built on Ethereum 2.0’s beacon chain, allows users to earn staking rewards on the beacon chain without locking Ether or maintaining staking infrastructure.

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-25-lido-wednesday-january-27-18-00-utc/6135

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
RWA Working Group Updates (0:00:47): @SebVentures
Presentation 1 (0:02:54): Harbor Trade Credit

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-24-harbor-trade-credit-wednesday-january-20-18-00-utc/6064

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:00:48): xDAI

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-23-xdai-stake-wednesday-january-13th-18-00-utc/5910

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:01:00): People's Company

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-22-peoples-company-wednesday-january-6th-18-00-utc/5869

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:00:40): Melon Protocol

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-20-melon-protocol-wednesday-december-9th-18-00-utc/5449

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:00:44): B.Protocol
Presentation 2 (0:45:47): Wrapped Filecoin

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-19-b-protocol-wfil-network-tuesday-december-8th-19-00-utc/5503

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:00:40): Leverj

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-18-leverj-wednesday-december-2nd-18-00-utc/5356

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:01:25): Set Protocol & Index Coop

Agenda and Discussion:
https://forum.makerdao.com/t/collateral-onboarding-call-16-setprotocol-indexcoop-wednesday-november-18-18-00-utc/5097

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:00:54): Curve.fi

Agenda and Discussion:
https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-14-wednesday-october-28-18-00-utc/4840

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
Presentation 1 ([0:01:05]): Introduction to Kleros
Presentation 2 ([0:47:15]): Kleros/Maker Fellowship

Agenda and Discussion:
https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-fellowship-edition-thursday-october-22nd-17-30-utc/4825/3

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
Presentation 1 ([0:01:33]): EURStasis
Presentation 2 ([0:31:09]): Crypto.com

Agenda and Discussion:
https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-12-wednesday-october-21-17-00-utc/4745

Governance Forum:
https://forum.makerdao.com/

Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:01:12): RenVM
Presentation 2 (0:28:41): Uniswap

Agenda and Discussion:
https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-11-wednesday-october-14-18-00-utc/4629

Governance Forum:
https://forum.makerdao.com/

Disclaimer: The videos in this playlist are produced by MakerDAO community members. Content produced by the community may not be representative of the views held by the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:00:55): Balancer
Presentation 2 (0:28:33): tBTC

Agenda and Discussion:
https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-10-wednesday-october-7-17-00-utc/4368/6

Governance Forum:
https://forum.makerdao.com/

Disclaimer: The videos in this playlist are produced by MakerDAO community members. Content produced by the community may not be representative of the views held by the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:00:58): Aave
Presentation 2 (0:21:18): Gemini

Agenda and Discussion:
https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-9-wednesday-september-23-17-00-utc/4227/2

Governance Forum:
https://forum.makerdao.com/

Disclaimer: The videos in this playlist are produced by MakerDAO community members. Content produced by the community may not be representative of the views held by the Maker Foundation.

Introduction: @juanjuan
Working Group Presentation (0:02:06): @SebVentures
Presentation 1 (0:04:06): Centrifuge
Presentation 2 (0:28:01): 6s Capital

Agenda and Discussion:
https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-8-wednesday-september-16-17-00-utc/4062

Governance Forum:
https://forum.makerdao.com/

Disclaimer: The videos in this playlist are produced by MakerDAO community members. Content produced by the community may not be representative of the views held by the Maker Foundation.

Introduction: @juanjuan
Presentation 1 (0:02:10): TrustToken (TUSD, TCAD, TAUD, and TGBP)
Presentation 2 (0:25:35): Mooniswap

Agenda and Discussion:
https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-7-wednesday-september-9-17-00-utc/3866

Governance Forum:
https://forum.makerdao.com/

Disclaimer: The videos in this playlist are produced by MakerDAO community members. Content produced by the community may not be representative of the views held by the Maker Foundation.

This video is a bi-weekly collateral onboarding call to discuss potential assets for MCD, open for anyone to join and present.

Introduction: @_LS
Presentation 1 (0:05:35): ShuttleOne
Presentation 2 (0:31:35): Arca Labs

Agenda and Discussions:
https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-6-wednesday-august-26-17-00-utc/3791

Governance Forum:
https://forum.makerdao.com/

Disclaimer: The videos in this playlist are produced by MakerDAO community members. Content produced by the community may not be representative of the views held by the Maker Foundation.

This video is a bi-weekly collateral onboarding call to discuss potential assets for MCD, open for anyone to join and present.

Introduction: @_LS and @spin
Presentation 1 (0:02:30): New Silver
Presentation 2 (0:31:51): @mrabino1 on building a Credit Tenant Lease Marketplace for MakerDAO

Agenda and Discussions:
https://forum.makerdao.com/c/risk/collateral-meetings/23

Governance Forum:
https://forum.makerdao.com/

Disclaimer: The videos in this playlist are produced by MakerDAO community members. Content produced by the community may not be representative of the views held by the Maker Foundation.