►
Description
Special Guests:
[B.Protocol](https://www.bprotocol.org/how-it-works/)
Yaron Velner
Eitan Katchka
Come join us for a dive into B.Protocol, a backstop liquidation protocol that helps to stabilize MakerDAO as a platform, and shift miner profits to MakerDAO users.
On the agenda we have:
~45 mins - Demo + Q&A
~15 mins - Further Q&A or Weekly MakerDAO Updates (Maker Relay 18)
Maker is a Decentralized Autonomous Organization(DAO) that manages the Maker Protocol on the Ethereum blockchain.
This video is a weekly community call that covers all Technical Milestones, Online Events, Partnerships, New Hires, Highlights from the Community, Real-Life Events, and more. Every now and then we even have a guest.
Maker Relay Ep 18
https://forum.makerdao.com/t/maker-relay-ep-18
If you're curious to learn more about MakerDAO explore some of the resources below:
Awesome-MakerDAO Resource Repository: https://awesome.makerdao.com/
Technical Documentation: https://docs.makerdao.com/
Community Portal: https://community-development.makerdao.com/
Governance Forum: https://forum.makerdao.com/
Website: https://makerdao.com
Twitter: https://twitter.com/makerdao
Reddit: https://www.reddit.com/r/MakerDAO/
Chat: https://chat.makerdao.com/home
A
All
right,
sweet,
hey
everybody!
Welcome
to
the
maker
dial
community
call
today
is
october
27th.
It
is
a
fine
tuesday,
after
almost
afternoon
noon
in
new
york.
So
if
you're
new
to
the
call
this
call,
typically,
we
cover
kind
of
the
week
at
maker,
dao,
what's
happening
in
the
land
of
governance,
what's
happening
with
like
in
business.
Integrations
partners
like
different
community
highlights
pretty
much
any
current
events
that
are
happening
around
the
maker
ecosystem.
A
We
try
to
cover
in
this
call,
but
we
also
use
this
call
to
invite
really
interesting
guests
on
that
are
building
around
the
maker
ecosystem,
whether
it's
with
dye
or
with
the
maker
protocol
directly,
we
like
to
kind
of
get
people
on
have
them
show
the
community.
What
they're
building
give
the
community
a
chance
to
ask
questions
to
dig
deeper.
A
But,
generally
speaking,
we
love
having
guests,
and
today
we
have
a
couple
of
really
good
ones.
Well,
actually,
it's
one
guest
with
two
people,
so
so
b
protocol
is
going
to
be
on
the
call
today,
I'm
actually
gonna
invite
them
on
screen
now
and
the
agenda
for
the
call
will
be
basically
for
the
first
45
minutes,
we're
going
to
go
through.
A
Basically,
a
presentation
and
demo
that's
going
to
be
done
by
your
ron
and
and
eaton,
and
here
I'm
gonna
invite
them
on
screen
and
then
for
the
last
15
minutes.
We
can
continue
and
go
into
like
extended
q
a
as
needed,
or
we
can
do
like
a
short
dive
into
the
this
week's
maker
relay
and
just
as
a
reminder,
we
use
maker
relay
to
kind
of
get
what
the
current
events
are
and
if
we
don't
cover
maker
relay
in
today's
call.
A
There's
a
little
call
to
action
button
right
there.
It's
like
little
green
and
it
says,
make
a
relay
if
you
click
that
it's
going
to
take
you
to
the
maker
forum
and
it's
going
to
be
the
maker
relay
tag,
and
I
think
it's
like
default
listed
by
the
latest
at
the
top
and
maker
relay
episode.
18
was
released
last
night,
so
go
check
that
out
and
a
huge
shout
out
to
our
community
contributors
who
put
that
together
every
monday
tim,
anna,
jerry
and
others
and
lewis
for
actually
translating
it
all
into
spanish.
B
B
A
C
A
Screen
yet
because
we
don't
see
it
either:
yeah,
okay,
one
second
yeah,
take
your
time
and
also
yeah.
I
wanted
to
reiterate
what
yarn
just
said:
if
anybody
has
questions
feel
free
to
put
them
in
the
chat
or
use
the
ask
a
question
feature
on
the
bottom
and
I'm
happy
to
relay
those
questions
for
you
and
kind
of
ask
them
like
yeah
kind
of
when
appropriate,
I'll
butt
in
and
ask
but
yeah.
B
C
C
Prior
to
that
also
is
the
kyber
network
founder,
so
we
did
smartpool
as
sort
of
semi-academic
semi-academic
project
and
we
both
actually
did
our
phds
in
different
universities,
which
was
a
smart
contract,
a
mining
pool
over
ethereum
back
in
2016
and
yeah
part
of
that.
So
I
hold
the
phd
in
computer
science.
C
Originally,
I
entered
blockchain
researching
smart
contract,
formal
verification
end
up
doing
what
I'm
doing
now,
so
the
agenda
of
the
talk,
so
I
I
am
imagining
most
of
you
guys
are
familiar
with
maker,
though,
but
you
know
even
inside
mecca
dao,
maybe
not
all
of
you
familiar
with
the
maker
dao
landing
system,
cdp
system,
how
it
really
works
behind
the
scenes.
So
it
explained
the
liquidation
system
in
the
learning
platforms
will
explain
why
some
of
the
value
go
to
the
miners
and
in
megadow
there.
C
Issues
beside
the
miners,
which
will
be
addressed
under
the
liquidation
200,
but
it's
also
applicable
to
other
platforms,
we'll
present
our
solution
and
then
why
you,
as
a
maker
user,
I
would
want
to
use
it
and
then,
after
that,
atom
will
make
a
demo.
An
actual
use
case
find
what
is
a
learning
platform.
So
learning
plant
forms
are
now
very
popular
in
different.
I
hold
a
lot
of
locked
value,
so
maker.
Dow,
actually
now
is
over
2
million
two
billion
dollars
compounding
are
also
very
big.
C
A
C
C
C
So
what
what
happened
in
liquidations
and
again
it
changes
from
maker
down
to
compound
in
average,
but
the
concept
is
the
same
and
the
concept
is
not
new
to
d5.
What
happens
is
that
someone
has
to
pay
the
debt
instead
of
you
and
in
return
it
gets
your
collateral
or
part
of
it
and
typically
to
make
it
worthwhile
for
the
liquidator.
So
you
give
him
a
collateral
that
was
a
bit
more
than
your.
A
C
Liquidations,
there's
nothing
to
keep
dye
pegged
to
us
dollars
for
platforms
like
compound
and
other
the
user
deposits
will
be
lost.
You
know,
maker
dao
is
a
important
building
block
in
ecosystem
of
billions
of
dollars
of
the
d5
ecosystem.
Also
other
end
compounds
so
basically
without
proper
liquidation
process.
Solidify
is
worthless.
C
C
B
C
Mortgage
payments,
but
something
more
more
in
the
line
of
defy
in
this
centralized
world
of
leverage,
leverage,
exchanges
like
bitmex,
kraken,
ftx,
etc,
where
basically,
they
allowed
you
to
do
leveraged
training
trading,
which
is
basically
at
least
one,
if
not
one
of
the
biggest
use
cases
of
also
maker
da
which
allow
you
to
leverage
it
to
trade
with
leverage
and
a
compound.
Let
you
for
a
set
of
a
basket
of
coins,
etc,
so
so
yeah,
so
how
they
handle
it
in
a
bit
mexico
and
all
the
others.
C
And
they
forced
them
to
deposit
some
funds
up
front
and
record
it
in
these
margin
platforms.
They
can
also
take
a
very
big
leverage
on
these
positions
so
saying
bit
mix.
If,
if
me
as
a
trader,
I
deposit
a
one
million
dollar,
I
can
handle
a
position
of
up
to
100
million
dollars,
which
is
huge
so
me
as
a
trader
that
wants
to
go
backstop.
I
I
commit
on
some
amount.
C
You
know
in
comparison
to
five
percent
in
ave,
eight
percent
in
compound
and
in
mecca
the
premium
is
not
very
well
defined
and
then,
whenever
liquidation
is
needed,
so
first
they
will
try
to
dump
the
position
on
the
order
book.
But
if
the
market
is
too
extreme,
they
will
dump
it
on
the
algorithm,
so
they
will
just
dump
the
position,
meaning
that
me,
as
an
aggro
trader,
has
let's
say:
1
000
die.
C
Okay
also,
I
have
1
000
ether,
so
they
will
just
give
me
the
die
debt
of
the
user
and
will
take
the
iter
for
me
without
even
asking
me,
but
with
a
premium
one
percent
and
what
b5
platforms
did
and
make
a
now
v
to
start
to
do
something
different,
but
not
quite
is,
first
of
all
you
let
everyone
participate,
you
don't
on
board
anyone
upfront,
but
because
you
let
everyone
participate
and
you
let
you
let
them
do
it
every
liquidation
from
scratch
right.
So
now,
there's
a
liquidation
that
needs
to
happen.
C
C
If
not,
then
not
you
know
I'm
not
committed
to
anything.
I
don't
have
any
stake
in
it,
etc.
So
there's
no
commitment
on
top
of
it.
Okay,
so
they
do
offer
a
inquidation
premium,
the
discount
premium
same
er,
but
because
of
how
blockchain
works.
So
now,
let's
say
on
compound:
there
is
a
eight
percent
discount
on
one
million
die,
so
there'll
be
a
huge,
huge
race.
You
know
to
be
the
one
who
liquidates
so
negative.
The
incentives
are
even
less
obvious.
So
in
the
current
liquidation
you
have
some
incentive
to
bid
first
etc.
C
C
A
C
Minor
extractable
value,
a
big
part
of
my
profit,
will
go
to
them
and
yeah,
and
the
bottom
line
is
that
I
liquidate
on.
If
it's
convenient
to
me,
I
don't
have
any
commitment,
even
though
the
platforms
try
to
subsidize
me,
big
part
of
the
subsidy
will
go
to
the
miners,
so
you
know
so
I
I'm
a
trader.
I
do
arbitrage
in
uni
swap
so
along
the
way.
C
I
will
also
try
to
see
if
I
can
profit
from
a
maker,
dao
liquidations
or
compound,
but
now
if
unisop
liquidity
goes
dry,
so
I
only
have
this
simple
system-
and
you
know
I
don't
have
anything
to
do
so.
I
will
just
not
liquidate
so
this
is
a
different
approach
and
now
our
approach
try
to
combine
the
two
approaches,
so
we
are
permissionless
and
we
conceptually
let
everyone
participate,
but
but
it's
not
done
in
every
liquidation.
It's
done
every
epoch.
C
C
A
B
A
C
C
So
this
will
be
in
later
stages
after
we
have
governance,
but
but
roughly
these
are
the
parameters.
Okay,
so
they
can
pay.
Some
upfront
can
commit
on
how
much-
and
this
is
already
doing
now
so
now
they
committed
on
sharing
the
liquidation
profits
with
the
platform
okay,
so
the
payment
is
not
upfront,
but
they
are
going
to
share
it.
C
You
know
liquidations
when
they
happen,
and
so
in
that
sense,
instead
of
making
the
competition
in
every
liquidation
and
let
the
miners
decide
who
in
the
competition,
so
we
only
do
it
once
in
a
while,
and
you
know
we
do
it
by
a
smart
contract
and
technically
we
can
support
much
more
than
five.
You
know
just
it
for
simplicity.
Initially,
we
started
with
five
not
to
make
the
smart
contract
too
complicated,
but
basically
the
idea
is
to
give
them
some
fairness
in
the
form
of
round
robin
or
a
random
selection.
C
So
we
can
support
more
so
yeah,
so
once
they
paid
for
it
or
you
know
at
least
build
the
system
for
it.
So
now
they
have
a
stake
inside
right.
They
they
are
now
more
committed
and
now
instead
of
sharing
the
discount
with
the
miners,
because
so
in
traditional
platforms,
two
percent
premium
three
percent
premium
is
already
very
high
and
in
d5
for
a
good
reason.
We
offer
a
higher
premium
because
of
all
the
quirks
and
complications.
But
now
that
is
very
similar
to
the
traditional
setting.
C
C
Of
liquidators
we
liquidate
if
it's
convenient
to
them,
so
they
are
committed.
At
this
point,
it's
soft
commitment,
but
again,
as
the
dow
gets
bigger,
it
can
force
them
to
lock
the
liquidations.
It
can
force
them
to
take
positions,
and
so
it's
really
all
depends
on
adoption
and
on
the
power
that
users
accumulate
and
the
power
of
users
will
mainly
stand
for
how
many
users
there
are.
A
B
C
C
C
C
Yeah
after
that
yeah,
so
you
know
I
can
tell
you
that
the
community
will
decide
right,
but
we
are
aiming
for
something
yeah,
but
you
know
like
to
be
realistic.
We
wait
for
something
like
three
months,
but
you
know
it's
underpinned
what
is
also
special.
You
know,
because
these
liquidators
are
committed
because
we
know
who
they
are.
You
know
we
can
just
talk
with
them.
C
So
though
there
are
not
a
lot
of
you
know,
defy
players
still
or
market
makers
and
yeah
make
it
up
and
also
talk
with
them,
and
they
do
talk
with
them
and
compound,
or
everyone
are
talking
with
them
and
they're
only.
You
know
maybe
three
to
ten
players
in
the
ecosystem,
but
still
here
you
can
really.
You
know,
there's
at
least
in
the
long
run.
You
can
have
some
this
mechanism
of
users
versus
or
you
know,
along
with
liquidators,
and
you
know
it
really
gave
them
the
option.
C
C
C
Will
be
realistic
will
be
three
months
epoch,
but
eventually
I
mean
technically
it
will
not
be
our
decision.
Oh
my
gosh.
That's
cool,
yeah,
okay,
so
what
we
get
from
the
protocol.
So
so
we
shift
the
my
extracted
value
to
users,
and
it's
actually
more
than
that,
because
we
also
move
the
uncertainty
premium
to
the
users,
so
liquidators
compete
on
liquidation
franchise
and
how
much
they
will
share
with
the
users.
C
C
To
like
okay,
give
something
to
users
in
order
to
use
it
via
our
interface,
so
user
will
share
the
process
with
the
liquidators,
so
liquidators
get
certainty.
They
are
happy.
Platforms
like
mega
dow
can
get
more
committed.
Liquidators
users
get
a
bit
more,
so
it's
like
win-win
all
around.
Besides,
maybe
the
miners
yeah
okay.
C
Architecture
and
later
we
will
also
see
it
in
the
demo,
so
we
built
b
protocol
as
an
interface
on
top
of
existing
platform.
Let's
say
maker
dao,
so
we
have
an
interface
of
smart
contracts
and
the
guarantees
we
want
to
give
to
users
is
that,
okay,
you
get
exactly
the
same
conditions
interacting
with
a
b
protocol
interface,
as
if
you
would
interact
directly
with
maker
dao.
C
A
C
C
B
A
B
A
C
A
C
C
The
selling
point
is
that
in
every
liquidation,
some
of
the
profits
go
to
this
jar
and
then,
according
to
the
user
rating
and
score
after
six
months,
we
distribute-
I
mean
it's
everything
with
a
smart
contract,
of
course,
but
we
distribute
everything
to
the
users
according
to
the
rating.
So
question.
A
A
C
C
System
so
at
this
point
we
do
not
offer
any
better
terms
in
the
actual
liquidations,
only
only
the
positioning,
okay,
like
distributing
the
profits
moving
forward.
Once
you
have
a
stronger
backstop,
you
know
it
might
be
hard
commitment
and
then
we
can
maybe
promise
more
things.
But
but
at
this
point
so
it's
not
only
that
we
don't
promise,
we
don't
even
try.
Okay,
so
so
user
will
get
exactly.
A
C
A
C
Item
is
based
on
the
interaction
with
the
platform,
how
much
he
used
it.
Well,
in
the
maker
now
case,
it's
pretty
simple:
it's
how
much
die
he
generated
over
time.
So,
basically,
if
you
have
1000
die
debt
for
24
hours,
you
get
one
point:
if
you
repay
it,
you
accumulate
less.
Okay,
if
you
have
so
so.
C
C
A
C
A
A
C
Yeah
definitely
so
so
yeah
yeah,
there's
no
talking
here
to
buy
or
to
trade.
This
phone
is
unchained
by
a
smart
contract,
but
it's
not
only
non-transferable,
it's
not
even
the
lc20.
It's
just
you
know
function,
it
returns
the
use
of
one
cool.
I
I
don't
know
so
so
yeah.
So
that's
that
you
know
once
you
have
that
kind
of
liquid
governance.
C
A
C
C
C
C
B
C
C
C
A
C
C
So
if
you
have
more
volts
on
the
b
protocol,
then
you
know
there
will
be
more
liquidation,
so
at
least
liquidators
will
expect
to
have
more
liquidations,
and
once
you
know
this
is
very
appealing
to
liquidators,
then
you
can
ask
a
lot
of
special
requirements
from
liquidators,
so
one
direction
will
be
higher
profits
for
users,
but
another
direction
is
okay:
lock
million
dollar
in
advance
stuff.
You
know
stuff
like
that.
C
First
enjoy
higher
stability,
but
but
it's
not
only
against
black
thursday
events,
because
even
now-
and
you
know-
let's
say
the
system
is
usually
stable
enough,
but
the
leverage
it
offers
to
users
is
very
low.
I
mean
only
2x
leverage
if
you
want
to
go
to
bitmax
levels
of
you
know,
x100
or
even
x20
or
x5,
there's
still
a
long
way
to
go
in
terms
of
making
liquidation
stronger
and
the
more
secure.
A
To
add
to
that,
I
think,
like
as
maker
dao
increases
the
number
of
vaults
that
it
provides.
I
think
there's
gonna
be
optionality
like,
for
example,
we
saw
an
eth
right,
each
a
is
a
150
collateralization
ratio.
You
can
only
get
to
like
something
close
to
three
times
leverage
and
even
then
you're
in
a
very
risky
position.
A
So
people
don't
even
go
for
that
kind
of
leverage,
but
now
we
have
a
governance
past
ethb
that
has
a
lower
collateralization
ratio
which
allows
people
to
basically
get
higher
leverage
on
that
facility
right,
and
I
think
that
in
the
future
there
might
even
be
products
that
are
similar
to
usdc
a
right.
Now
that
is
101
percent
collateralization
ratio
that
lets
you
actually
get
a
ton
of
leverage
on
very
small
starting
capital,
but
has
a
way
higher
risk
premiums
way
higher
stability
fee
to
compensate
the
protocol.
A
For
that,
so
I
think
that
the
need
for
more
liquidators
is
growing
and
and
the
need
for
actually
having
kind
of
promised
capital
waiting
on
the
sidelines
ready
to
participate
in
liquidations
should
they
occur,
is
extremely
important
to
kind
of
secure
in
the
ecosystem,
not
just
for
maker,
but
for
really
any
protocol
so
yeah.
I
really
really
like
what
b
protocol
is
doing.
It's
very
interesting.
C
B
B
B
This
is
I'm
just
running
this
on
top
of
kovan
testnet?
Just
so
we
can
have
you
know
a
much
quicker
transactions
and
everything.
So
you
can
see
here
on
the
left
side.
You
can
see,
you
know
the
input
button
and
you
can
see
whatever
you
know
how
much
ether
are
locked
and
you
know
how
much?
How
much
is
your
depth
your
die
depth
and
just
with
the
with
the
one
button
click
you
can
input.
B
Your
voltage,
you
know
it's
important
to
mention
that
you
know
the
volt
remains
under
your
full
control.
There's
you
know
it's
under
the
custody
of
the
user,
no
admin
keys
and
anything.
So
it's
still
under
your
control
just
exactly
as
it
would
be
if
you
would
handle
that
over
oasis
or
any
other
cdp
manager.
I.
A
Have
a
quick,
quick
question
about
that,
so
in
the
future,
like
let's
say
a
year
into
this
protocol,
there
are
some
early
users
that
have
a
lot
of
user
rating
and
have
a
lot
and
and
therefore
have
like
a
lot
of
governance
sway.
Is
there
an
ability
for
governance
to
go
in
and,
for
example,
like
steal
the
positions
that
are
in
the
you
know
in
the
being
managed
by
the
cdp
like
by
the
be
protocol?
Is
there
any
way.
C
A
C
C
B
C
C
B
C
C
B
B
Of
course
you
can
withdraw
your
ether
and
so
on
and
the
same
on
on
the
dice
side.
Either
you
can
borrow
more
eater
as
much
as
you
know,
as
much
as
you
can
on
you
know,
according
to
the
limit
and
or
you
can
just
you
know
repay
some
of
your
some
of
you
die.
You
need
to
unlock
your
dive.
It's
the
first
time
you're
using
your
account.
You
will
have
to
unlock
your
die
in
order
to
be
able
to
to
repay.
C
A
C
C
So
so
here
when
we
support
only
eta-
and
I
so
it's
only
in
east
technically,
the
current
deployment
in
terms
of
score
supports
also
upped,
bitcoin,
but
not,
but
still
not
supported
on
the
website.
Moving
forward.
The
governance
will
be
able
to
give
score
to
whatever
collateral
type
it
desires,
yeah
and
then
it
will
be
by
mix
of
assets.
I
mean,
if
you
have
a
bitcoin
liquidation,
it
will
be
in
wrapped
bitcoin.
It
will
be
in
italy.
If
you
have
mana
it
will
be
in
mana.
A
C
A
I
have
a
quick
question
so
so,
if
these
group
of
liquidators
are
not
immediately
selling
the
collateral
that
they
bid
on
like
you're,
so
when
like,
for
example,
maker
position,
you
bid
with
die
for
the
collateral.
What
happened?
You
know,
isn't
that
six
month
period
where
the
winning
collateral
is
just.
C
B
So
so
just
you
know
just
to
conclude
that
so
I
can
just
repay
you
know
once
if
you
can
see
there's
the
borrow
limit,
which
is
you
know
once
you
know,
once
I
decide
to
repay,
I
can
see
how
much
it
will
go
down
or
you
know
if
I'm
gonna,
if
I'm
gonna
make
gonna
borrow
more,
it
will
show
me
you
know
how
much.
Where
do
I
stand?
B
According
to
my
borrow
limit,
I
can
just
you
know
repay
some
of
my
die
or
using
you
know,
repaying
the
whole
the
maximum
amount
of
die
depth,
and
basically
that's
it.
You
know
it's
as
plain
as
it
can
be
here.
You
can
see
that
my
user
rating
is
growing
and
yellow
has
mentioned,
but
during
the
first
month
which
started
today,
basically
user
rating
is
being
calculated
with
an
x2
factor
just
to
incentivize.
B
This
is
on
on
the
cover
network,
so
it
shows
numbers
which
are
relevant
to
the
test
to
test
net
on
mainnet.
There
are
still
ten
thousand
dollars
a
little
bit
more
and
user
rating
is
a
bit
different,
the
total
of
user
rating.
Once
you
stand
here,
you
can
see
the
total
rating
so
yeah.
Basically,
that's
it
so.
A
This
is
very
interesting,
so
if
users
vault
users
manage
their
vaults
through
b
protocol
and
they,
for
example,
never
get
liquidated,
they
actually
still
get
a
share
of
of
that
of
that.
Basically,
six
percent,
so
just
by
virtue
of
being
here
and
being
a
good
borrower
and
not
letting
your
your
position
get
liquidated,
you're,
even
rewarded
for
that
yeah.
B
Exactly
I've
answered
that
on
the
chat
as
well,
so
someone
was
asking
you
know
who's
getting
who's,
getting
the
the
reward.
So
the
rewards
you
know
the
gr
is
being
distributed
among
all
rating
holders.
You
know
so
if,
if
you
had
a
debt
during
these
last
six
months,
once
we're
in
end
of
april
2021,
six
months
from
now
any
rating
that
you
hold
you
know
will
get
you
a
portion.
You
know
proportional
part
of
of
the
jar
balance
as
it
will
be
in
six
months
from
today.
A
C
This
is
something
yeah,
I'm
not
on
mute,
yes
of
future
world
map,
you
know,
is
a
twofold
or
even
threefold,
so
for
us
we
want
to
integrate
and
we
will
integrate
also
with
other.
You
know
projects
like
compound
so
compound.
We
have
all
the
big
ones,
also
with
new
platforms,
and
you
know
like
to
really
bootstrap
a
very
strong
backstop
as
far
as
the
making
of
our
community
concern.
You
know,
so
what
I
see
the
future
is
kind
of
you
know,
making
or
helping
us
bring.
You
know
the
liquidators
to
maker.
C
B
C
B
A
Nice,
nice.
So
then
I
have
another
kind
of
like
tangent
question.
So
recently
you
guys
got
white
listed
for
oracles,
I'm
curious
about
your
use
of
oracles
in
the
platform
and
in
general,
how
you
approach
this,
because
I
know
that
each
of
these
lending
platforms
kind
of
have
their
own
strategies
for
where
they
get
like
reference
prices
and
I'm
curious
how
that
interplays
inside
of
the
protocol.
C
Right
so
we
got
rightly
right
listed
to
two
two
contacts:
one
is
the
osm
one.
Is
the
software
drill
time
of
median
price,
so
our
reference
price
for
liquidation,
for
whether
liquidation
should
occur,
is
actually
none
of
those.
So
our
reference
price
is:
I'm
not
sure
how
you
know
that
people
are
familiar
with
it,
but
we
simply
look
at
the
vat
contact
and
we
have
exactly
the
same
conditions.
C
You
know
like
putting
aside
the
cushion
we
provide,
so
this
is
for
the
actual
liquidation.
The
osm
is
needed
because
it
helps
it
helps
us
do
this
protocol
to
how
how
to
share
a
single
cushion
between
liquidators,
so
they
can
put
a
cushion
only
with
liquidation
might
happen.
You
know
in
the
next
hour
and
and
finally,
the
midianizer
is
used
for
the
reference
price
in
actual
liquidation.
So
we
liquidate
according
to
price
feed,
and
it's
according
to
make.
You
know
price
feed,
so
the
user
will
get
13
percent
off.
C
B
C
C
A
C
C
B
Yeah,
I
think
you
know
we
try
and
we
try
and
keep
it
simple.
I
think
you
know
as
as
much
as
we
would
like
to
see.
You
know
maker
dow
users
current
make
it
our
users,
you
know
import
their
vaults
into
be
protocol
and
you
know
help
secure
the
platform
that
they're
using
it's
also
an
opening
for
new
users
in
indifah.
You
know
who's
looking
to
jump
in
and
kind
of
you
know.
B
C
C
Yeah
and
otherwise,
like
you
know,
moving
forward,
you
know
this
is
like
an
open
protocol.
Anyone
can
build
the
ux
on
top
of
it.
We
will
definitely
try
to
focus
more
on
the
desktop
aspect,
as
opposed
to
offering
flashy
new
features,
which
you
know
we
hope,
like
the
community.
You
know
we
hope
also
to
along
the
way
integrate
with,
if
I
say
that
all
the
others
and
really
focus
on
the
desktop
size-
and
you
know
just
to
make
the
best
backstop
and
a
lot
of
the
other
user.
B
A
This
definitely
makes
the
entire
define
ecosystem
way
more
robust.
So
I
think
what
you
guys
are
doing
is
extremely
extremely
valuable
and
thank
you
guys
for
coming
on
the
community
call.
This
was
super
interesting.
I
hope
that
the
people
watching
both
here
live
and
on
the
recording
learned,
something
and
and
kind
of
got
some
value
out
of
this.
So
likewise,
let
me
see
yeah
if
there's
any
final
questions
on
the
chat
feel
free
to
ask
them
now,
but
otherwise
yeah.
If.
B
You
guys
have
any
questions
from
you
know.
Anyone
listening
or
you
know
here
on
the
call
or
just
you
know,
help
us
share.
You
know
the
news
with
the
community:
it's
a
small
community,
but
yet
you
know
so
many
sources
of
information,
resource
of
information,
so
just
you
know
help
us
bring
us,
bring
it
out
and
yeah.
So
thanks
thanks
for
that
david
for
this
opportunity.