►
From YouTube: Community Collateral Onboarding Call: October 15, 2020
Description
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.
A
It's
iran,
so
we
have
long
from
from
australia
and
we
also
have
hayden
from
unisa
and
well,
there's,
there's
also
a
bunch
of
of
people
from
their
team
joining
us
as
well.
Thank
you.
Thank
you.
All
from
coming,
the
dynamic
is
quite
quite
free,
but
in
general
we
have
a
10
minute
presentation
where
the
project
can
discuss
different
things,
and
then
we
allow
for
20
minutes
for
q
a
and
discussion
and
again
it
doesn't
need
to
be
to
be
very
precise,
but
but
yeah
that's
pretty
much.
B
B
Yeah
so
hi
everyone
thanks
for
joining
my
name
is
long.
I'm
the
chief
technology
officer
at
ren,
so
I
thought
I'd
yeah,
give
a
bit
of
an
overview
of
what
renviem
is,
which
is,
I
guess,
what
we
call
the
main
network
that
we're
building
at
the
rent
project,
and
so
I
think
today
we're
looking
at
onboarding
for
the
ren
token
itself,
as
well
as
rentbtc
ren,
bitcoin
cash
and
run
zcash.
B
Now
the
rent
token
and
the
ren
sort
of
ren
wrapping
tokens
work
very
differently,
but
all
the
wrapping
tokens
work
the
same.
So
I
guess
I'll
cover
them
all
I'll
talk
specifically
about
bitcoin,
because
I
think
that's
the
one
that
is
the
most
interesting
but
yeah
bitcoin
cash,
z,
cash
and
the
future
assets
that
we
look
at
bringing
in
the
future
will
all
work
in
the
same
way
so
yeah.
B
What
rmvm
is
all
about
is
interoperability,
so
the
goal
is
to
bring
bitcoin
to
the
ethereum
network
and
to
other
networks
and
also
bring
assets
from
ethereum
over
to
other
networks.
So
in
the
particular
context
of
make
it
out
why
we
think
this
is
valuable.
Is
the
ability
to
bring
bitcoin
over
to
ethereum
and
use
this
collateral
in
the
make
it
out
system
which
should
help?
You
know,
grow
the
amount
of
dye
that
can
be
minted
and
sort
of
diversify
the
underlying
collateral
types?
B
B
In
order
to
do
one
of
two
things
they
can
either
send
it
to
another
chain
or
they
can
just
redeem
the
underlying
bitcoin
itself
on
the
bitcoin
chain,
and
so
you
know
the
way
that
run
vm
accepts
this
bitcoin.
Is
that
it's
a
multi-party
computation
network?
So
what
it
does
is
it
generates
private
keys
in
a
way
that
no
one
ever
sees
the
private
key,
and
everyone
has
sort
of
these
little
shares
of
the
key.
B
So,
in
effect,
what
it
does
is
it
basically
creates
a
big
multi
that
can
have
you
know
an
arbitrary
amount
of
participants,
but
to
the
underlying
networks.
It
just
looks
like
one
signature,
so
if
you
look
at
renview
today
and
you
look
at
the
private
key
that
it's
currently
holding
the
assets
in,
it
appears
to
just
be
one
private
key,
but
in
actual
fact
it's
multiple
private
keys
that
are
shared
up
amongst
multiple
modes
and
they
sort
of
simulate
a
multi-sig
environment
environment.
So,
from
answer
for
purposes
of.
B
That's
better
yeah
so,
for
I
guess
the
best
way
to
think
about
it
in
terms
of
understanding.
The
end
result
is
that
it
is
a
essentially
a
one
out
of
three
multi-sig
and
we
sort
of
scale
that
up
to
lots
of
hundred
nodes
and
we
break
down
the
value
between
those
nodes,
and
then
we
shuffle
that
value
over
time.
In
return
for
this,
the
network
takes
a
small
fee
from
the
or
it
can
be.
B
B
So
that
brings
us
to
the
participants,
and
this
is
sort
of
where
ren
comes
into
it.
So
these
participants
operate
in
sort
of
this
off-chain
environment,
where
they're
performing
this
multi-party
computation,
but
also
performing
consensus
algorithms,
so
that
they
can
sort
of
agree
about
how
to
shard
how
to
change
shards.
You
know
which
bitcoin
transactions
to
process
in
which
order
all
the
stuff
that
you
typically
would
want
from
a
consensus
algorithm
and
to
participate
in
this.
B
They
have
to
put
up
a
stake
of
100
000
run
tokens,
so
the
ren
token
is
sort
of
the
underlying
work
token
that
the
system
uses
to
decide
who
and
who
cannot
be
a
participant
of
the
network.
So
today
we
have
about
1350
nodes
online
that
are
being
operated
with
another.
I
think
it's
about
30
coming
online
at
the
end
of
this
epoch,
which
is
sort
of
the
interval
which
we
break
the
system
down
into
and
yeah
generally
we
see
that
spike
just
before
the
end
of
the
epoch
as
well.
B
B
Cool
yeah,
so
some
things
that
I
think
are
particularly
interesting
here
that
make
red
vm
a
little
bit
unique
is
the
mpc
protocol
that
we
use
is
one
that
we
extended
from
some
seminal
works
back
in
the
late
90s,
and
so
our
focus
for
this
has
been
to
allow
this
network
to
operate
under
sort
of
what
you
might
call
standard,
blockchain
conditions.
So
in
most
blockchains,
the
threshold
for
an
attack
of
some
kind
is
33.
B
So,
whether
that's
through
you
know,
selfish
mining
to
do
a
double
spend
or
whether
that's
through
a
direct
pbft
voting
system
where
the
nodes
are
voting
on
consensus
directly.
Usually
the
threshold
there
is
is
one
third
as
well,
so
we've
taken
that
same
sort
of
mentality.
The
consensus
algorithm
that
downloads
work
is
the
tenement
consensus
algorithm.
We
don't
use
the
tenement
implementation,
we've
modified
it
slightly
for
to
be
more
efficient
and
more
effective
for
the
specific
purpose
that
we're
using
it.
B
Although
it
has
been
audited
multiple
times
and
it's
been
live
running
for
six
months
and
the
fpc
algorithm
that
we
built
meets
the
same
assumptions,
so
we
could
in
theory
you
could
have
an
mpc
algorithm.
That
goes,
you
know
to
50
or
two
thirds,
but
if
your
consensus
algorithm
is
one-third,
then
there's
not
much
fun
doing
that.
B
Third,
all
the
way
up
to
100,
but
the
trade-off
that
those
npc
algorithms
make
is
that
if
a
single
node
goes
offline,
the
computation
fails
and
you
either
have
to
engage
in
a
system
to
try
and
figure
out
whose
fault
it
was,
or
you
just
have
to
assume
that
it
was
everyone's
fault.
And
you
know
this,
I
think,
creates
poor
economic
incentives
for
the
participants.
B
C
B
So
this
includes
groups
like
polychain,
infinite
capital
curve
finance,
which
is
where
I
think
80
percent
of
the
rand
vtc
sits
right
now
and
then
phase.
One
is
where
we
progress
from
sorry
phase.
Sub-Zero
is
where
we
progress
from
having
that
small
group
running
the
system
to
having
the
whole
community
running
the
system
and
then
from
phase
one
and
onwards
is
kind
of
where
we
say
the
system
is
fully
decentralized.
All
the
governance
kicks
in
and
there's
no
yeah.
B
B
D
B
Yeah,
so
the
two
main
bottlenecks
are
going
to
be
the
amount
of
ren,
that's
bonded
and
the
amount
of
fees
that
people
are
willing
to
pay
to
have
their
bitcoin
sitting
on
ethereum,
so
the
way
that
run
vm.
So
it
has
a
few
economic
levers.
The
two
most
important
ones
are
the
minting
and
burning
fees.
So
every
time
someone
moves
an
asset
to
a
chain
and
every
time
someone
moves
an
asset
offer
chain.
B
If
you
move
an
asset
between
two
chains,
then
you
pay
both
the
burning
and
mining
burning
on
one
and
minting
on
the
other.
The
idea
is
that
as
the
the
amount
of
bitcoin
grows,
so
too
does
the
minting
fee.
So
we
sort
of
think
about.
I
guess
the
the
the
equivalent
of
gas
bandwidth
in
our
system
is
the
amount
of
value
that's
locked
up.
B
B
The
actual
price
of
the
asset
is
not
particularly
interesting.
The
more
interesting
thing
is
the
value
of
the
bond
in
the
network.
So
in
essence,
the
amount
of
yield
that's
being
generated.
What
we're
seeing
is
we're
seeing
the
nodes
at
this
stage
in
the
network
seems
to
be
reasonably
happy
with
a
yield
of
around
three
to
four
percent
per
annum,
because
they're
earning
bitcoin
itself,
not
earning
you,
know,
governance,
tokens
or
something
like
this.
So
now
that
we've
seen
that
number.
E
A
B
Yeah
sure,
so,
if
you
want
to
contribute
to
the
network,
you
can
acquire
a
hundred
thousand
rent
and
then
bond
that
to
the
system
and
and
run
a
node
there's
an
epoch
at
which
everything
happens
called
called
sorry,
an
interval
of
which
everything
happens,
which
we
call
an
epoch.
Presently
it's
set
to
one
month,
but
we're
looking
at
lowering
that
to
one
day
I
mean
that's
the
epoch
at
which
new
nodes
get
admitted
into
the
system.
B
So
you
sort
of
register
your
node
and
get
ready
to
participate
and
then,
at
the
end
of
the
epoch
it
actually
will
get
admitted
and
start
doing
work
and
that
that's
why
we
typically
see
a
sharp
rise
in
the
number
of
registered
nodes
right
before
the
end
of
the
epoch.
Because
there's
not
much
point
registering
before
that.
Then
when
you
de-register,
you
have
to
wait
for
two
full
epochs.
B
The
purpose
of
that
is
is
several
fold.
The
first
is
to
disincentivize
people
from
deregistering
too
quickly,
so,
for
example,
registering
earning
a
bunch
of
fees
from
a
sudden,
big
mint,
that's
happening
and
then
deregistering
straight
away,
and
so
that
keeps
the
numbers
of
nodes
in
the
network
stable,
changing
as
little
as
possible,
and
the
second
is
to
if
there
is
bad
behavior
and
the
nodes
do
need
to
be
slashed
if
they
attempted
to
fork
the
consensus
or
something
like
this.
B
This
gives
an
opportunity,
a
long
enough
opportunity
for
everyone
to
notice
that
and
to
to
do
something
about
it.
Even
if
there's
you
know
like
a
bug
in
the
slashing
mechanism
and
that
no
it's
not
correctly
punished.
We
think
that
12
weeks
is
a
sufficient
amount
of
time
for
our
the
technical
team
to
come
in
and
make
that
change.
So
if
so,
if
you're
interested
in
helping
power
the
network,
you
can
acquire
100,
000,
rem
and
and
run
one
of
these,
we
call
them
dark
nodes.
A
C
Yeah,
I
got
a
question
juan
real
quick,
so
I
like
to
think
of
rent
btc
and
don't
take
any
offense
to
this,
but
initially
similar
to
what
bitco
and
wbtc
have
done,
which
is
obviously
they
are
centralized.
I
guess
what
I'm
asking
is:
can
you
explain
to
the
maker
community?
What
was
your
thinking
behind
being
a
custodian
right
now,
not
completely
decentralized
right?
I
think
you
described
it
as
phase
zero
going
into
phase
one.
If
I
understood
it
correctly,
that
would
be
the
first
part
of
my
question.
C
B
B
Centralization
can
be
more
secure
than
decentralization,
especially
in
a
highly
complex
network.
You
know
we've
seen
a
few
examples
of
this
already
over
over
the
past
year,
even
so
things
like
yam,
for
example,
going
straight
for
decentralization,
which
is
an
admirable
thing,
but
then
you
know
very
quickly:
realizing,
there's
a
bug
and
requiring
a
high
level
of
decentralized
coordination
and
even
then
being
unable
to
actually
instrument
the
change
that
was
necessary
and
ultimately
collapsing
the
system.
B
That
exact
kind
of
scenario
is
what
we
want
to
avoid,
and
obviously
we've
done
the
best
that
we
can
and
we've.
You
know
undergone
audits
and
all
this
kind
of
stuff.
But,
as
everyone
knows
in
this
in
the
system,
that's
that's
not
enough.
So,
by
giving
us
a
long
lead
time
with
central
control
over
the
system
in
this
first
sub-zero
phase,
where
we
can
do
two
things,
one
is
that
if
something
does
go
wrong,
we
have
a
very
fast
and
capable
ability
to
react,
whether
that's
to
instrument.
B
B
You
know
we
can
do
that,
and
the
second
thing
is
that
we
can
also
make
sure
that,
as
we
expand
to
the
phase
zero,
which
is
where
it
becomes
semi-decentralized
becomes
more
like
a
large
multi-sieve
or
federated
peg
and
then
finally,
in
phase
one
becomes
a
fully
unfederated
federated
pagan.
Just
a
you
know,
full
decentralized
system.
B
D
B
B
B
B
I'm
not
sure
that
it
will
replace
the
native
assets
on
those
systems
specifically,
but
I
think
it
will
replace
native
assets
in
general.
So
if
you
look
at
you
know,
bitcoin
across
all
of
d5
was
all
of
these
different
chains.
I
think
you'll
see
more
of
it
locked
up
than
you'll
see
of
native
assets,
and
I
think
that's
for
two
reasons.
One
is
that
a
native
asset's
always
safer.
So
now
eath
is
always
going
to
be
safer.
Even
if
you
imagine
the
perfect
interoperability
protocol
bitcoin
ethereum
is
always
compounding
two
risks.
B
It's
compounding
the
bitcoin
risk
with
ethereum
risk
and
there's
no
way
to
get
around
those
two
things,
whereas
ethereum
is
only
ever
gonna
have
ethereum
risk.
So
I
think
you
know
in
that
sense,
if
is
more
popular
or
remain
more
popular
in
general,
on
the
ethereum
chain.
Also
there's,
I
guess
the
social
aspect
to
it,
but
then
also,
I
think,
there's
this.
I
guess
the
opposite
effect
is
also
in
play,
where
I
don't
think
bitcoin
is
going
to
move
to
ethereum
unless
it's
going
to
be
used
there.
B
So
I
think
all
of
the
ether
you
see
on
ethereum
has
has
so
many
different
purposes.
If
people
just
want
to
sit
and
hold
ether,
then
it's
going
to
be
sitting
and
holding
on
the
ethereum
chain.
Obviously,
but
I
don't
think
anyone's
going
to
move
for
nbtc
over
to
ethereum
just
to
hold
it,
there
they're
only
going
to
move
it
there
if
they're
interested
in
staking
it
or
interested
in
using
it
as
collateral
or
putting
it
to
a
liquidity
pool.
B
So
all
of
the
bitcoin,
indeed,
I
think,
is
going
to
be
very
active
and
I
think
there'll
be
a
very
small
percentage
of
bitcoin.
That
sort
of
just
sits
there
as
as
float
yeah.
I
think,
given
the
number
of
different
d5
projects
and
given
the
number
of
different
chains
that
we
will
see
bitcoin
on
in
the
near
future,
I
think
overall
bitcoin
will
be
one
of
the
biggest
assets
that
is
used
as
cloud
all
across
the
board.
D
Yeah,
I
wasn't
sure
how
much
ground
you
guys
covered
yet
how's
going
chris
on
the
smart
contract
domain
team.
I've.
I've
actually
worked
with
you
guys
before.
So
you
know
who
I
am
but
for
everyone
else.
So
I
I'm
trying
to
recall
at
which
phase
the
like
gray,
core
sort
of
melts
away
and
and
the
ren
vm
is
sort
of
collateralized
by
ren.
Let's
say
the
bonded
ran
outweighing
the
amount
of
assets
under
custody
that
you
have
on
renve
yeah.
B
Sure
so,
there's
there's
actually
quite
a
lot
to
contact
there.
So
to
answer
your
question
directly
again:
three
phases:
sub-zero,
zero
and
one
we're
currently
in
sub-zero
by
the
end
of
sub-zero,
is
when
the
gray
call
will
be
instantiated
and
that's
kind
of
when
we'll
say
that
when
phase
zero,
so
the
phases
are
not
something
that
we
sort
of
assert,
there's
something
that's
more
reactive,
where
we
look
at
how
the
system's
evolving
and
we
use
it
as
kind
of
a
label.
B
So
once
the
grey
core
is
fully
functional,
we'll
call
that
phase
zero
and
then
once
the
grey
core
is
melted
away.
We
call
that
phase
one.
So
between
phase
zero
and
phase
one
also
during
phase
zero
is
essentially
when
the
grey
core
will
be
dissolved
and
so
part
of
of
the
process
of
phase
zero
will
be
implementing
these
economic.
We're
gonna
be
implementing
these
economic
drivers
in
the
next
couple
of
weeks.
B
We're
gonna
start
that
process
and
then
obviously,
if
that
doesn't
work,
and
we
don't
see
the
system
react,
the
way
that
we
want.
It
gives
us
plenty
of
time
and
still
enough
safety
to
make
any
modifications
that
we
might
need
raising
the
fees
increasing
the
rebate.
These
kinds
of
levers
that
we
can
pull.
D
B
And
I
think
I
think
the
important
thing
for
us
is
that
I
mean
obviously
we
would
love
to
see
these
assets
in
make
it
out.
We
would
love
to
see
them
with
a
small
initial
cap.
For
that
precise
reason,
and
also
just
because
we
think
it's
you
know
again
generally
in
line
with
our
ethos
of
wanting
to
roll
out
slowly,
it
is
important
for
us
to
get
these
integrations
because
it's
it's
one
thing
to
run.
B
So
it
is
currently
all
the
data
that
we're
seeing
is
currently
in
line
with
our
initial
thinking,
which
is
that
we
should
be
able
to
to
do
this
and
that's
with
the
current
minting
fee.
So
one
of
the
first
steps
we're
looking
at
doing,
is
raising
that
minting
fee
and
just
seeing
what
does
that
do
and
with
the
long-term
goal
of
having
an
algorithmic
minting
fee
that
self-adjusts,
based
on
the
amount
of
demand
that
it's
seen.
B
So
you
know
we're
very
confident
that
we'll
be
able
to
do
that.
But
I
think
that
confidence
is
only
underwritten
by
seeing
red
btc
in
action.
So
obviously,
if,
if
there's
the
ability
for
red
btc
to
be
on
on
something
like
makers
hour,
where
you
can
get
die
and
you
can
go,
get
crazy
yields
on
that
diet,
suddenly,
maybe
a
24
rebate,
24-bit
rebate,
it's
not
looking
as
good!
D
B
Yeah
yeah,
we
we
definitely
haven't
it's
something
that
we're
actively
investigating,
but,
okay,
that's
obviously
a
process
that
moves
very
slowly.
We're
we're
not
entirely
sure
we
stand
on
that
because
within
the
next
six
months
we
would
like
to
see
it
already
in
the
phase
where
it's
controlled
by
the
grey
core,
and
so
that's
a
very
short
period
to
try
and
convince
an
engineer
that
they
should
be
ensuring
something
especially
a
strange
asset
like
this.
B
I
think,
with
bitco,
it's
a
bit
easier
because
they're,
obviously
they're
both
licensed
in
many
ways,
but
also
as
a
central
custodian.
There's
a
model
there
that
a
risk
model
that
the
insurers
understand.
Unfortunately,
for
us,
the
risk
model
is
very
difficult
to
communicate
with,
with
any
kind
of
insurance
company
that
we've
seen.
We
have
considered
things
like
nexus
mutual,
but
we
haven't.
Honestly,
we
haven't
dug
too
deep
into
that.
B
E
E
Yeah,
to
be
honest,
we
weren't
necessarily
planning
on
doing
a
presentation
or
presenting
the
project.
We
kind
of
heard
that
you
guys
had
technical
questions
for
us,
and
so
you
know
I
feel
like
unisoft
is
a
pretty
well
known
project
anyway,
I
would
rather
kind
of
just
save
everyone's
time
and
scope
into
questions
you
guys
have
for
us.
A
E
Yeah,
so
you
know
moving
moving
forward.
That's
really
just
entirely
up
to
governance,
which
you
know
our
team
sort
of
is
not
participating
in
beyond
delegating
to
community
members.
So
it's
really
up
to
governance
in
terms
of
what
pools
get
rewards.
They
sort
of
initial
the
initial
reward
pool
they're,
mostly
chosen
for
sort
of
the
most
popular
some
of
the
most
popular
assets
and
and
so
the
most
desired.
So
you
know
like
eat
to
die
to
usdc.
D
Sounds
good,
I
hayden
what
kind
of
attack
vectors
around
governance
are
there
like?
Is
there?
Could
we
see
uni
delegates
voting
to
you
know,
increase
supply
or
you
know
what
types
of
things
do
you
think
that
could
we
see
from
uni
governance
that
would
affect
let's
say
our
joint
adapter
or
the
collateral
in
the
system.
E
Yeah,
so
that's
a
good
question.
So
definitely
you
know
one
of
the
main
ideas.
The
governance
was
to
kind
of.
Have
it
be,
as
sort
of
you
know,
minimized
as
pa.
You
know
have
as
minimized
governance
as
possible
and
that
you
know
there's
not
much
that
uni
governance
can
do
to
mess
with
the
core
uniform
protocol.
E
It
also
has
governance
over
sort
of
there's
this
community
treasury,
which
is
you
know,
43
of
the
uni
total
supply,
is
currently
sort
of
vesting
to
the
governance
contract
and
then
governance
has
and
then
basically
you
can
have
governance
votes
over
a
community.
The
community
can
vote
on
sort
of
how
that
uni
might
be
allocated,
and
then
you
know
either
through
incentives
or
grants
or
anything
of
that
sort
in
the
future.
E
In
terms
of
so
the
total
supply
is
sort
of
fixed
to
one
billion
as
the
sort
of
starting
point,
and
so
this
this
one
billion
invests
over
four
years.
It's
front
load
investing
some
of
this
information,
this
information's
all
in
the
announcement
post,
but
if
you
want
to
kind
of
go
back
and
but
after
four
years
or
I
think
it's
on
january,
maybe
taiyo
can
confirm
but
or
what
he
can
confirm,
but
I
believe
it's
on
january,
1st
2024..
E
E
E
Yeah
yeah
so
starting
on
january
1st
2024
governance
can
mint
up
to
two
percent
inflation
per
year.
If
it
doesn't
it,
then
it
doesn't
like
it
doesn't,
carry
over
a
balance
of
what
it
can
meant
like.
If
it
doesn't
do
it
for
a
year,
then
it
loses
out
on
that
two
million
or
two
percent.
You
know,
of
course,
governance
can
always
upgrade
itself.
It
could
burn
the
fee
switch
it
could
it
could?
You
know,
release
a
new
token
and
give
the
fee
switch
to
that.
E
Like
government
has
full
control
over
sort
of
itself
as
a
as
a
dao.
Just
like
you
know
most
most
doubts
do,
but
but
that's
about
it
in
terms
of
the
scope
of
what
can
go
wrong.
You
know
people
could
do
they
be.
Let's
say
if
someone
was
able
to
get.
You
know
enough
votes,
they
could
maybe
vote
to
to
replace
governance
with
a
new
system
that
has
some
other
governance
token
or
something
like
that.
But
you
know
similar
to
kind
of
book.
E
D
E
So
we
actually
have
longer,
we
have
longer
delays
and
compound.
So
that's
great!
Well
sorry,
it's
it's
seven
days
voting,
so
I
think
compounded
three
days
voting
or
five
days
voting
and
then
a
two
day
delay
for
for
execution,
a
swap
is
seven
days
for
voting
and
then
and
then
two
days
for
for
execution.
E
E
E
Well,
it's
you
know,
I'd
say
that
it
hasn't
really
been
decided
in
terms
of
how
b3
might
be
rolled
out.
Okay,
oh
one
other
thing,
the
only
thing
we
did
move
from
remove
from
compound
governance,
the
only
like
major
change,
I
think,
other
than
that
adding
the
inflation
is.
We
removed
the
the
guardian
thing
that
they
had
for
a
while.
The
compound
had
that
sort
of
guardian
backdoor
thing
to
governance
temporarily
and
uniform
governance
does
not
have
that,
so
it
is
already
kind
of
fully
decentralized.
C
Yeah
so
digging
d
painted
into
uni
swap
and
the
future
of
uni
swap.
Are
you
guys
going
to
do
things
like
maker?
The
maker
community
does
or
make
your
foundation,
I
should
say,
although
we
hope
to
decentralize
100,
are
you
guys
going
to
do
the
same
decentralized
by
having
different
teams,
wrist
team.
C
E
I'd
say
that
you
know
we're
very
much
kind
of
not
pushing
too
strongly
for
any
direction
and
really
kind
of
letting
sort
of
opening
it
up
to
what
the
community
wants
to
be
the
direction
of
unicef
governance.
So
you
know
we're
we're
we're
fairly
hands
off
here,
largely
just
delegating.
We
we
don't
currently
have
a
foundation.
E
We've
had
you
know
various
community
delegates
come
in
and
you
know
I
guess
the
dharma
just
submitted
the
first
proposal
this
week,
which
is
which
is
currently
being
voted
on,
but
but
there's
no,
you
know
it's
a
so
something
to
note
about
uniform
governance.
It's
a
little
bit
different
from
maker
governance
or
compound
governance
is
not
really
a
structural
thing,
but
a
sort
of
like
a
risk
thing
where
maker
and
compound
both
kind
of
have
this
idea
of
pooled
risk.
E
Where
you
have
this
massive
collateral
pools
that
are
sort
of
you
know.
If
something
goes
wrong
with
governance,
it
can
sort
of
negatively
affect
the
the
collateral
pools
in
a
pretty
serious
way,
and
it's
worth
noting
that,
like
with
uniswap
governance,
liquidity
that
is
in
uniswap,
nothing
can
really
you
know,
there's
nothing.
Governance
can
do
to
kind
of
massively
lose
you
money
from
from
as
a
liquidity
provider,
and
so
there
is
no
like
sort
of
like
oracle
risk
type
thing,
or
anything
like
that.
E
E
Now
the
fee
that
the
only
fee
that
for
v
the
v2
fee
is
hardcoded
to
0.05
percent
governance
only
has
the
ability
to
turn
that
on
and
off
it
doesn't
have
the
ability
to
raise
it
above
that
or
or
lower
it
below
that.
It's
very,
very,
very
scope,
governance
over
in
terms
of
how
it
relates
to
the
the
trading
pairs
and
all
that.
E
E
D
E
E
So
I
could
imagine
something
like
that
continuing,
but
it's
really
one
thing
that
I'll
note
is
that
we're
quite
early
on
in
in
governance
and
really
people
are
just
kind
of
just
joining
and
it's
sort
of
in
its
formation
stages
in
some
ways.
So
it
is
a
little
bit
hard
for
me
to
kind
of.
I
don't
want
to
overly
speculate
on
on
the
kind
of
path
that
that
people
will
want
to
follow,
or
you
know-
and
I
definitely
don't
want
to
sort
of
push
people
in
in
any
specific
direction.