►
Description
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 20
https://forum.makerdao.com/t/maker-relay-ep-20
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-
hey
everybody
good
afternoon,
at
least
from
new
york
good
morning
good
evening,
wherever
you're
watching
from
my
name
is
david
utrobin.
I
am
a
community
development
lead
here
at
the
maker
foundation
and
and
also
a
long
time,
community
member
and
I
get
to
enjoy
the
my
tuesday
afternoons
here
on
the
community
call
giving
the
community
a
big
update
on
what's
been
happening
in
the
maker
dao
universe
over
the
last
week,
kind
of
surfacing
different,
interesting
things
that
are
happening
every
once
in
a
while.
A
You
know
current
events,
any
recent
updates
to
any
of
like
the
interfaces
and
stuff
like
that.
It
also
features
a
state
of
the
peg
segment.
So
you
get
all
the
the
really
great
analysis
that
visha
vishesh
usually
brings
on
the
thursday
governance
and
risk
call.
You
get
like
a
brief
summary
of
that
in
the
maker
relay
every
week,
and
also
just
general
community
highlights
highlights
from
the
forum
we
have
like
a
tweet
of
the
week.
A
We
have
a
bunch
of
really
good
stuff,
so
check
that
out
it's
released
monday
evenings
and
and
yeah
it's
it's
totally
available
for
feedback.
If
you
have
ideas
to
make
it
better,
the
team
would
really
appreciate
any
suggestions,
so
don't
be
shy,
and
with
that
I
am
going
to
actually
share
my
screen
and
we're
gonna
run
through
it.
A
A
A
They
are
basically
saying
yes
or
no
to
each
individual,
mip
or
subproposal
and
and
whichever
ones
get
yes,
they
get
bundled
in
to
one
governance
poll
and
then
one
executive
vote
at
the
very
end
of
the
month,
and
this
happens
kind
of
week,
one
week
two
week,
three,
so
we're
still
in
the
very
first
stage
of
that
the
inclusion
polls
so
go
check.
Those
out
there's
a
number
of
really
interesting
ones
happening.
A
So
there
is
an
update
to
mip
five
mip
24
actually
replaces
mip5
mip
5
was
the
old
emergency
voting
system.
Mip
24
revises
that
and
builds
upon
the
experience
of
dealing
with
emergencies
over
the
last
year
or
yeah
about
a
year
in
maker
in
multicollateral
die
specifically,
but
it's
a
huge
improvement.
It
gives
some
very
practical
guidelines
on
how
the
community
should
surface
any
emergencies
or
urgent
matters
to
you
know
for
governance
facilitators
to
take
notice
yeah.
It
just
gives
some
really
general
guidelines
that
are
needed.
A
Yeah,
so
check
that
out,
there's
also
a
flash
mint
module
being
being
proposed.
The
code
is
there
for
it.
Everything
is
pretty
much
there
for
it
so
check
it
out
with
this
users
will
be
able
to
flash
loan
die
directly
from
the
maker
protocol,
which
is
really
exciting
and
will
provide
a
new
source
of
revenue
to
the
protocol,
so
really
sweet,
there's
also
mip
27
the
debt
ceiling
instant
access
module.
This
makes
it
a
lot
easier
to
do
debt
ceiling
adjustments.
A
The
way
they're
done
now
is
voters
individually
vote
on
you
know
actually
down
here.
Like
last
week.
We
had
what
was
it
six
different
votes
on
on
debt
ceiling
adjustments,
and
rather
than
doing
this,
all
manually,
there's
kind
of
some
logic
embedded
in
in
how
to
do
debt
ceiling
adjustments,
and
we
don't
have
to
wait
for
the
governance
delay
which
at
the
moment
is
72
hours.
A
So
if
we
were
to
propose
a
debt
ceiling
adjustment,
we
would
pretty
much
be
able
to
do
it
as
quickly
with
no
delay
whenever
we
want.
So
this
is
a
very
useful
tool
for
governance.
It
helps
us
be
more
agile,
there's
also
a
new
domain
team
being
proposed.
It's
called
the
operational
support
domain
and
its
job
is,
is
to
do
a
few
things
it's
to
actually
I'm
not
gonna
butcher
it,
but
I'll
kind
of
I'll
read
the
paragraph
summary.
A
A
So
it's
going
to
be
do
doing
things
in
the
realm
of
general
operations
for
domain
teams,
cross-domain
team
coordination
and
grants
management,
so
the
maker
foundation
grants
program
will
basically
live
under
the
operational
support
domain
team
and
the
dow
will
have
more
more
control
over
it.
Frank
is
asking:
is
that
the
same
as
the
amy
junk
poll
yeah?
A
So
so
this
is
the
the
actual
domain
team
being
proposed,
while
down
here
there's
a
sub
proposal
to
this
mip
28
and
it's
to
onboard
the
domain
facilitator
for
this
domain
team
and
to
quickly
explain
like
the
roles
in
domain
teams.
There's
basically
two
roles:
there's
domain
facilitators
which
are
elected
by
the
dao
and
then
there's
domain
contributors,
and
they
don't
have
to
be
elected
they're.
A
Just
people
who
who
are
helping
with
the
domain
and
some
in
some
way,
but
the
domain
domain
facilitator
is,
is
pretty
much
the
owner
of
the
team
and
the
responsible
party
and
yeah.
As
you
rightly
pointed
out,
frank
amy,
jung
is
being
is
being
proposed
as
as
the
domain
facilitator,
which
is
really
exciting.
A
The
first
two
weeks
I
believe,
are
still
going
to
be
like
people
are
still
going
to
be
around,
so
there
is
a
weekly
governance
cycle
that
might
be
employed
if
there
are
any
urgent,
mips
or
urgent
things
to
pass,
but
on
the
whole,
the
monthly
cycle
is
gonna,
be
skipped
just
due
to
like
the
massive
season
of
holidays
and
all
that
good
stuff.
So
this
to
me
is
pretty
much
a
no-brainer
go
check
out
the
discussion
and
vote
and
then
the
last
one
is
the
source
credit
funding.
A
So
if,
if
you've
been
around
specifically
on
the
forums,
you'll
know
that
we've
been
running
a
really
interesting
experiment,
so
the
maker
foundation
has
been
funding
source
cred.
I
think
something
like
I
don't
want
to
butcher
it.
So
I
kind
of
kind
of
want
to
go
into
the
discussion
thread
and
just
check
it
out,
but
I
believe
it's
like
10
000
die
a
month.
I
might
be
wrong
about
that.
A
A
Payouts
yeah,
so
I
guess
at
the
first
month
it
started
with
five
thousand
dollars
worth
of
die,
but
I
think
that
was
changed
either
way.
The
point
I'm
kind
of
trailing
off
on
the
side.
Basically,
there
was
a
three-month
trial
period
where
a
source
credit
was
implemented
on
the
makerdale
forums
and
sourcecredit
is
kind
of
this
algorithm
that
runs
behind
the
forums
and
reads
user
behavior.
A
As
you
can
see,
the
visits
are
up,
the
topics
are
up,
the
posts
are
up.
Of
course,
you
can't
attribute
all
of
this
to
you
know,
source
credit
alone,
but
I'm
sure
that
incentivizing
forum
activity
has
certainly
helped
surface
good
ideas,
attract
interesting
people
to
actually
look
at
what
we're
doing
and
participate
and
all
in
all,
you
know
I'll
actually
try
to
see
if
I
can
get
them
on
to
talk
about.
The
final
report
in
one
of
these
upcoming
community
calls,
but
it's
a
really
really
interesting
project.
A
It's
worked
really
well
and
I
believe
it's
a
really
really
great
way
that
yeah
to
to
basically
compensate
and
reward
the
community
for
the
work
that
they've
been
doing
in
the
forums
and
so
yeah,
so
the
mip
actually
proposes
that
maker
governance
intends
to
fund
the
use
of
source
cred
within
the
maker
community
to
incentivize,
effective
governance,
and
I
highly
recommend
you
check
out
this
mip
check
out
the
project.
It's
really
really
fascinating.
Stuff
source
cred,
definitely
rocks
yeah
yeah,
frank,
so
I'm
actually
gonna
reach
out
to
ben.
A
A
So
pretty
pretty,
I
would
say,
like
there's,
not
a
lot
of
contentious
or
like
highly
debated
mips
in
this
month's
cycle.
So
that's
pretty
exciting.
Well,
actually,
I
guess
that's
like
the
opposite
of
exciting.
It's
like
pretty
boring,
but
it's
good
because
there's
less
of
a
risk
that
all
this
stuff
won't
pass
and
it
won't
have
to
wait
until
january.
A
So
that's
good.
So,
besides
the
inclusion
polls
there's
a
couple
of
other
governance
polls,
one
is
related
to
actually
because
of
the
recent
flash
loan
incident
there
has.
There
has
been
kind
of
a
formal,
formal
vote
kind
of
gate.
How
do
you
say
the
word?
Gauging
gauge
got
engaging
the
community's
sentiment
around
burning
borrowed
attacking
mkr,
so
the
idea
is,
if
somebody
borrows
mkr
from
ave
and
balancer
and
a
million
other
places
and
like
attacks
the
protocol
with
like
a
malicious
governance
action
on
redeployment.
A
Should
we
burn
that
mkr,
even
though
it's
not
technically
the
attackers,
the
attacker
just
borrowed
it
for
like
a
block
or
two
right,
and
the
discussion
has
been
really
interesting.
I
haven't
followed
it
super
duper
closely
like
I
read
it
pretty
much
last
week
when
it
when
it
was
like
halfway.
That's
14
days
old,
I
read
it.
A
Basically,
you
are
assuming
the
risk
that
if
somebody
borrows
your
mkr
and
like
screws
up
the
maker
protocol
like
and
attacks
it
you're
on
the
hook
in
a
sense
like
this
is
a
very
kind
of
it
makes
sense.
It
kind
of
sucks,
because
you
can't
like
get
the
return
that
you
want
on
your
mkr
and
it's.
But
you
know
you
can't,
have
your
cake
and
eat
it
too.
If
you're
lending
out
your
mkr,
you
are
lending
out
your
vote
and
that's
the
whole
point
of
mkr.
A
Mkr
is
a
governance
token.
It
does
have
value
for
that
reason
that
it
has
power
it.
You
know
people
can
actually
effect
change
with
it,
and
so
withholding
mkr
comes
great
responsibility
and
hopefully
in
the
future,
when
there's
the
governance,
contract,
redesign
and
and
more
interesting
stuff
happening
around
voter
incentives,
it's
gonna
be
like
kind
of
a
no-brainer
to
like
hold
on
to
your
mkr
and
even
participate
in
governance,
rather
than
lending
it
out
on
one
of
the
d5
platforms
today,
but
either
way.
A
This
is
a
really
kind
of
interesting
topic
of
discussion,
because
it's
like
hey,
I
didn't
do
the
flash
loan,
but
you
know
you
were
the
enabler.
So
it's
definitely
it's
definitely
challenging
and
also
lewis,
rightfully
points
out.
It
might
create
a
problem
for
the
person
who
borrows
on
the
platform
of
a
balancer,
yeah,
absolutely
absolutely
might
even
yeah.
It's
it's
interesting,
because
I
guess
on
a
redeployment.
A
A
And
basically,
I
don't
know
if
it's
like
an
airdrop
is
the
right,
the
right
term
to
use,
but
something
like
that,
where
you'd
be
able
to
redeem
or
or
get
credited
to
you
based
on
how
much
care
you
have
and
if
they
see
that
you
have
like
mkr
and
ave
they're
just
going
to
skip
over
you
and
say
yeah
we're
not
going
to
airdrop
you,
the
umkr
you're,
going
to
be
stuck
with
the
old
on.
You
know
the
old
system
that
you
contributed
to
its
downfall,
all
right
like
a
staking
system.
A
A
So
I
I
think
I
I
get
the
root
of
the
question,
but
basically,
if
the
protocol
is
attacked,
an
emergency
shutdown
happens,
the
protocol
has
to
be
redeployed
and
started
from
scratch.
Basically,
and
so
in
that
event
a
new
mkr
token
would
have
to
be
created
so
brian
mentions
this
would
be
difficult
to
enforce
technically
difficult,
yes
impossible.
B
Good
to
see
you
I
I
don't-
I
haven't
commented
on
this
this
post,
but
like
it's,
it's
still
not
quite
clear,
like
every
every
time
that
the
system
went
to
emergency
shut
down
like
we
would,
we
would
have
to
evaluate
how
it
got
redeployed,
it's
right.
So,
like
you
know,
we
might
end
up
in
a
situation
where
maker
gets
rapidly
inflated
to
the
point
where
there's
like
hundreds
of
millions
of
them,
and
so
like
one.
B
One
thing
that
we
could
do
is
you
know
just
issue
one
for
one
against
other
people's
balances,
that
that
would
like
automatically
wipe
out
anybody
in
unit
swap
or
balancer,
and
that
might
not
be
the
intention,
depending
on
how
it
went
down
right
right.
The
other
option
would
be
to
do
like
an
upgrade
like
with
the
the
old
maker
like
maker
v1
and
then
just
pass
it
through
a
contract
kind
of
like
we
had
with
the
guy
to
die.
B
B
B
A
B
A
That
speaks
to
the
responsibility
of
mkr
holders
because,
like
you
know,
if
you
are
an
mkr
holder,
it's
in
your
interest
to
not
let
people
have.
You
know
control
over
your
mkr
to
attack
the
system.
You
know
like
it's
kind
of
it's
kind
of
intuitive
right,
it's
kind
of
pretty
straightforward,
but
of
course
yeah
you
want
to
earn
that
return.
I
mean
that's,
you
know.
Let
me
ask
you
brian,
while
you're
here,
what
do
you
think
about
incentivizing
mkr
voters
like
doing
some
like?
A
B
Can
I
can't
say,
but
my
personal,
my
personal
opinion
is
that
we
should
be
incentivizing
vault
holders,
because
right,
they're
they're
the
ones
that
have
a
lot
to
lose,
but
they
also
you
know,
they're
trying
to
leverage
up
their
own
positions.
So
you
know
a
vault
holder,
who's
who's,
locking
up
eth
has
a
big
stake
in
the
system,
but
they
also
don't
necessarily
have
maker,
and
you
know
like
compound,
gives
comp
tokens
to.
B
A
These
on
their
own,
I
think
the
original
I
think
the
original
argument
against
voter
incentivization
is
that
it
would
like
create
a
lot
of
noise
in
that
people
would
vote
just
to
vote
just
to
get
the
incentives
and
like
they
wouldn't
really
pay
attention
or
like
give
mind
to
what
they're
voting
on.
Do
you
have
any
strong
like?
Do
you
feel
that
that's
like
conceptually,
more
or
less
right.
B
B
I'd
love
to
see
that
right,
like
I'm
excited
for
that
yeah
I
mean
I'm
pretty
close
to
the
system.
So,
but
if
I
wasn't
you
know,
like
you
know,
I
would
love
to
just
delegate
my
uni
or
whatever
you
know,
because
I
don't
want
to
spend
all
day
look
in
the
system
and
I'm
sure
you
know
maker's
got
its
own
maker
holders
that
are
in
the
same
boat.
So
yeah
hey.
I
got
another
call.
So
thanks
for
putting.
B
A
Really
good
short
bit
all
right
later
later:
yeah
sweet
yeah
that
was
interesting,
yeah.
So
there's
clearly
a
lot
to
to
think
about
to
dig
in
here.
So
I
highly
recommend
anybody
who's
in
the
community
even
outside
of
the
community.
To
look
into
this
share
your
opinions
on
this.
You
know
the
more
thought
goes
into
it.
The
more
likely
a
a
good
solution
is
gonna,
come
out
right,
so
yeah.
A
So
that's
one
of
the
other
polls
and
then
the
other.
The
last
poll
that
I'm
going
to
talk
about
that's
happening
is
the
stablecoin
action
plan.
So
this
relates
to
basically
what's
been
happening
over
the
last
year,
where
the
dye
peg
has
been
shooting
up
due
to
exploding
demand
caused
primarily
by
yield
farming
and
a
number
of
other
things.
But
the
point
is:
is
that
dye
went
from
being
primarily
backed
by
ethereum
to
now
being
backed
by
a
ton
of
stable
coins
right?
So
here
I
am
on
dye
stats.
A
A
The
stable
coins
are
really
dominating
the
underlying
their
share
of
the
underlying
collateral
portfolio
and-
and
this
was
allowed
to
happen
basically
to
to
help
keep
the
pack
in
line
and,
of
course,
the
community
wants
to
bring
back
a
balance
and
kind
of
help
wean
the
system
off
of
stable
coins,
and
so
let
me
close
this,
and
so
there
is
there's
kind
of
a
few
different
options
for
the
community.
To
take
right.
A
First
option
is,
do
nothing
well.
Actually
you
know
what
let
me
go
to
the
vote,
because
you
know
if
you're,
a
voter
and
you're
just
going
through
the
voter
voting
portal.
It's
all
explained
here,
so
you
could
check
it
out
here.
So
here
are
the
options.
Do
nothing?
Stability
remains
at
four
percent
for
stable
coins.
The
surface
the
surplus
buffer
is
not
increased
as
a
result
of
this
issue,
so
I'll
dig
into
that.
A
Actually
I'll
read
all
the
options
and
then
I'll
kind
of
explain
from
there
option
one:
a
stability
fees
remain
at
four
percent
on
stable
coins
and
the
surplus
buffer
is
increased
to
prevent
the
burning
of
mkr.
Until
the
issue
is
resolved,
option
1b
stability
fees
are
lowered,
remain
above
zero
percent
and
the
surplus
buffer
is
increased
to
prevent
the
burning
of
mkr
until
the
issue
is
resolved
and
I'll
tell
you
guys
what
the
issues
in
a
second
option.
Two
is
stability.
A
Fees
are
lowered
for
stable
coin
vault
types
with
the
goal
of
setting
them
to
zero
percent
as
vaults
approach,
100
collateralization
ratio
and
then
option.
Three
stability
fees
and
debt
ceilings
are
lowered
to
zero
for
existing
stable
coin
vault
types,
new,
stable
coin,
ball
types
are
created
with
a
four
percent
stability
fee.
So
so
let
me
kind
of
explain.
A
That
they're
under
100
collateralization
ratio
in
individually
right
and
the
challenge
here-
is
that
you
know
the
liquidations
are
turned
off
for
this.
This
is
a
ton
of
money
right,
400
million
die
in
usdc,
backed
by
411
million
usdc,
that
you
know
that's
a
a
pretty
small
margin
there.
It's
only
a
few
million,
and
so
at
a
certain
point.
A
A
Likewise,
you
know,
if
we're
continuing,
to
collect
fees
on
this,
it's
kind
of
hard,
because
you're
only
really
collecting
one
percent
and
then
the
three
percent
is
you're,
just
running
the
clock
down
quicker,
so
there's
a
really
good
case
to
be
made
for
for
lowering
stability
fee
anyway,
but
yeah.
So
man,
I'm
kind
of
butchering
the
explanation,
but
I
hope
this
is
kind
of
making
sense.
A
So
the
idea
is
this:
with
this
facility
almost
being
tapped
out,
the
debt
ceiling
would
be
set
to
zero.
No
new
positions
would
be
able
to
open.
The
stability
fee
would
be
set
to
zero
and
this
would
be
kind
of
frozen,
and
the
protocol
can
liquidate
at
its
own
discretion
in
its
own
timeline
and
have
like
a
lot
of
control
over
these
positions.
A
So
yeah
that's
kind
of
option.
Three
here
right,
stability
fees
are
lowered
and
a
new
stablecoin
vault
type
is
created,
so
these
are
kind
of
just
slowing
down,
but
not
giving
people
an
option
to
continue
doing
this,
whereas
this
is
like
cutting
off
the
the
last
cohort.
That
is,
you
know,
slowly
getting
into
the
red
zone
and
opening
it
up
for
future
people
to
do
kind
of
the
similar
strategy.
So,
of
course,
there's
a
ton
of
discussion
around
this.
A
Don't
take
this
single
explanation
from
me
as
as
a
means
by
which
you
should
make
your
own
decision
about
this.
I
highly
suggest
you
read
through
the
discussion
thread
read
through
the
maker
chat,
governance
and
risk
channels,
specifically
there's
a
ton
of
stuff
in
there
sam
m
wrote
a
ton
about
this.
There's
a
ton
of
really
interesting
comments
here,
yeah
so
check
it
out.
In
general,
though,
the
one
thing
I
would
advise
against
is
is
actually
keeping
the
situation
going.
A
As
is,
and
doing
nothing
is
probably
not
a
good
idea.
The
least
we
could
do
is
lower
the
stability
fee
so
that
these
don't
run
underwater
as
quickly
and
if
we
do
that,
I
would
also
recommend
just
making
sure
new
people
can't
open
positions
here,
but
anyway,
yeah
read
through
it.
I
hope
that
made
a
little
bit
of
sense
made
sense
to
me,
but
I
I
know
I
could
have
explained
it
a
bit
better
yeah
so
check
it
out.
A
A
From
last
week
we
had
an
executive
vote
that
passed
on
november
8th
and
it's
actually
going
to
be
executed
tomorrow
on
november
11th
and
we're
going
to
be
having
two
new
vault
types,
so
we're
going
to
be
having
yfia
and
ballet
and
and
yeah.
These
are
kind
of
have
been
a
long
time
in
the
making
and
it's
exciting
to
see
two
of
d5's
pretty
much
top
collaterals
or
assets.
I
don't
know
what
you
want
to
call
them
be
accepted
as
collateral
into
maker.
So
it's
really
exciting.
A
All
the
teams
did
their
work.
Smart
contracts,
team
did
the
smart
contract
stuff,
the
oracle's
team
did
the
oracle
stuff
and
the
risk
team
did
the
risk
stuff.
So
it's
really
great.
In
addition
to
onboarding
these
two
new
vault
types,
there
was
also
a
number
of
debt
ceiling,
adjustments
and
stability
fee
adjustments.
A
A
The
ethb
debt
ceiling
is
also
being
reduced
from
20
to
10..
The
mana
aid
debt
ceiling
is
being
reduced
from
a
million
to
250
000.
That's
because
of
actually
the
lack
of
liquidity
in
mana
markets,
and
it's
also
just
as
a
risk
measure
in
addition
to
the
fact
that
the
vault's
not
really
being
used
that
much
our
usdt
tether
a
is
being
proposed.
Well,
it
is
being
lowered
from
10
million
to
two
and
a
half
million
wbtc
is
being
actually
increased.
A
All
right
yeah,
so
that's
the
executive
vote
that
passed
that
will
be
executed
tomorrow
and
it
passed
with
almost
90
000
mkr
of
rounding
up,
of
course,
with
27
unique
voters,
not
the
most
amazing
turnout,
but
a
good
turnout.
Nevertheless,
and
yeah.
These
are
last
week's
debt
ceiling
adjustment
polls
that
converted
into
this
executive
vote.
So
all
of
that
happened,
it's
all
yes's
across
the
board.
A
All
right.
Some
updates
from
mips
charles
posted,
his
weekly
mip
update
on
wednesday
last
week,
so
check
that
out.
If
you
want
like
the
full
full
update,
but
we
have
a
number
of
mips
in
the
request
for
comment
phase.
One
of
them
is
the
weekly
actual
debt
ceiling
adjustments.
This
defines
an
automated
process
for
weekly
debt
ceiling
adjustments.
This
is
different
than
the
instant
access
module
for
debt
ceiling
adjustments.
A
This
is
kind
of
like
the
logic,
whereas
the
instant
access
module
is
just
the
ability
to
do
it
without
a
governance
delay.
If
I'm
not
mistaken,
mip
26
is
also
in
request
for
comments.
I
know
that
the
team
was
trying
hard
to
get
it
in
for
november,
but
in
light
of
a
bunch
of
stuff
still
not
ready,
and
it's
definitely
a
really
really
big
deal.
So
the
dss
gov
is
the
governance
contract
redesign.
A
It
is
a
replacement
of
ds
chief
and
it's
going
to
come
with
improved
security,
obviously
like
protection
against
flash
loans,
better
functionality
for
mkr
voters,
there's
really
just
a
ton
of
really
great
stuff
packed
in
here
so
check
it
out.
I
know
derek
fossman
did
a
couple
presentations
about
it,
also
just
yeah
it
can
be
understated.
This
form
thread
is
really
just
packed
with
information,
so
dig
in
there's
a
couple
of
sub
proposals.
In
the
request
for
comment
phase.
A
A
We
have
a
dedicated
mkr
gov
twitter,
that
that
is
being
worked
on
and
we
have
a
potential
podcast
in
the
works
which
is
exciting
and
and
actually
recently
has
been
looking
for
feedback
from
the
community,
so
yeah.
So
the
idea
behind
this
team
is
is
exactly
that.
You
know
maker
dow
needs
a
system
of
communications
between
the
dao,
the
defy
community
and
the
public
and
and
this
team
of
community
members
is
basically
wants
to
do
it.
I'm
not
gonna
dig
in
much
deeper
than
that.
I
might.
A
A
So
if
you
have
any
questions
about
them,
feel
free
to
ask,
and
likewise,
if
you're
interested
in
contributing
to
anything
that
they're
doing
feel
free
to
reach
out
to
me,
I'll,
happily
put
you
in
touch
with
them
and
then
the
last
subproposal
in
the
rfc
phase.
Is
the
maker
protocol
cover
with
nexus
mutual?
So
it's
a
declaration
of
intent.
Basically,
let
me
just
read
it
so:
maker
governance
wishes
to
engage
nexus
mutual
to
provide
cover
for
the
maker
protocol,
so
we're
getting
insurance.
A
That's
like
the
simplified
thing
to
say,
but
you
can
check
out
all
the
details.
It's
a
pretty
thought
through
declaration
of
intent.
Of
course,
the
declaration
of
intent
is
exactly
that.
It's
a
declaration
of
intent,
so
it
doesn't
mean
that
we
are
you
know.
If
this
passes
it's
100
gonna
happen.
There
still
has
to
be
a
mip.
There
still
has
to
be
a
ton
more
stuff
kind
of
fleshed
out,
but
this
is
the
just
the
first
step.
A
All
right
cool,
so
some
some
quick
updates
from
smart
contracts.
The
gsm
pause
delay
has
been
increased
to
72
hours,
meaning
if
a
vote
passes
that
affects
the
change
in
the
system.
It
will
only
come
into
effect
in
72
hours,
and
this
is
in
order
to
be
able
to
stop
a
potential
like
malicious
governance,
action
that
might
like
harm
the
system.
A
In
addition,
the
authorization
for
the
oracle
freeze,
module
and
the
liquidation
circuit
breaker
have
been
removed,
so
they
used
to
function
like
instant
access
modules
where
it
wouldn't
have
to
go
through
the
delay
period.
But
now
they
don't,
they
don't
have
the
ability
to
you
know
just
bypass
the
delay
period.
This
is
a
temporary
measure.
A
So
it's
exciting
to
to
potentially
have
these
as
collateral.
In
the
maker
in
the
maker
protocol
soon
for
risk,
there
is
a
really
interesting
stuff
happening
around
real
world
assets,
matthew
rabinowitz
of
success
capital-
actually
has
you
know
a
mip
past
and
also
has
a
a
declaration
of
intent
passed
and
there's
a
bunch
of
yeah.
A
A
Oh
that's
pretty
funny.
Actually
I
didn't
see
that
yet
yeah,
so
you
can
leave
your
comments.
If
you're
a
voter
on
executive
proposals,
there's
a
feature
request
to
have
this
available
on
polling
as
well,
so
that
might
be
coming
soon
and
in
addition,
you
can
actually
batch
your
governance
poll
votes
now.
So
you
can
vote
on
nine
governance
polls
in
one
transaction,
which
is
a
really
really
huge
user
experience
improvement
for
mkr
voters.
A
It
also
helps
you
save
on
gas.
So
that's
really
great.
Is
this
here
all
right
yeah?
So
that's
the
new
governance
portal.
So,
if
you're
a
voter
and
you've
been
seeing
it
yeah,
it's
been
really
great
and
likewise
actually
yeah.
I
guess
I'll
show
you
guys
the
demo
here,
but
there-
oh,
that's
super
small,
never
mind.
So
there
is
a
really
cool
feature
called
on
chain
effects.
So
in
executive
proposals
you
can
click
on
this
tab
here
called
on
chain
effects
and
it'll
show
you
like
precisely
what
is
being
changed
to
what.
A
So.
This
is
a
really
great
accountability
measure,
it's
a
really
great,
it's
really
great
in
general,
and
I
think
that
they're
going
to
be
working
on
making
this
more
readable.
So
if
you
don't
know
what
an
ilk
is,
if
you
don't
know
what
a
war
you
know
if,
if
you're
confused
with
all
this
taiwanese,
don't
worry
because
this
is
gonna
become
more
readable
over
time,
so
yeah
stay
tuned
for
that
all
right,
coming
up
on
it.
State
of
the
peg
dye
is
of
course,
still
hovering
at
around
a
dollar.
A
A
If
you
want
the
individual
numbers,
I'm
not
going
to
read
through
all
of
them,
but
feel
free
to
check
them
out
on
dye
stats
and
then
likewise,
on
maker
burn.
There's
a
really
really
easy
breakdown
here
and
it's
all,
like
you
know,
sorted
by
amount.
So
it's
pretty
cool
moving
forward
moving
forward,
actually
really
quick.
I
also
want
to
give
an
update
on
the
surplus
buffer.
So
recently
the
surplus
buffer
was
increased
from
2
million
to
4
million,
and
since
then
we've
accumulated
an
additional
one
and
a
quarter.
A
You
know
one
and
almost
a
quarter
million
die
so
we're
coming
up
on
the
surplus
buffer.
I
would
say,
probably
over
the
course
of
the
next
two
weeks,
we
will
probably
hit
it
at
this
rate.
So
yeah
just
want
you
to
be
cognizant
of
that.
If
you
are
an
mkr
voter
and
so
yeah,
here's
the
seven
day
die
volume
weighted
average
price,
as
you
can
see,
very
very
classic
bell
curve
shape
right
at
around
a
dollar
and
a
penny.
A
Yeah
ethal's
collateralization
is
significantly
above
200
percent,
which
is
good
from
a
risk
perspective.
I
think
this
is
actually
my
favorite
visual,
so
this
is
like
the
liquidation
price
of
all
the
different
vaults
and,
as
you
can
see,
there's
kind
of
this
is
these:
are
the
most
risky
ones
from
400
to
320,
I
guess
and
then
at
320
there's
just
a
huge
huge
amount
of
dye
sitting
there
yeah
and
just
as
a
note
like
these
are
living
numbers.
A
So
these
fluctuate
all
the
time
if
ether
does
start
precipitat,
you
know
like
really
hard
crashing
today.
Of
course,
vault
owners
would
respond.
I
imagine
this
wall
might,
like
you
know,
become
more
granular
might
get
pushed
up
to
lower
liquidation
prices,
who
knows
but
either
way
it's
looking
pretty
good
from
a
risk
perspective.
A
There's
a
sand
based
insights
article
about
the
top
10
busiest
erc20
projects
maker
dow
is
number
five
at
the
time
of
hosting,
and
then
a
really
important
question
was
asked
so
recently,
eth
2.0
was
announced
to
be
launching
and
people
are
wondering
what's
going
to
happen
to
maker
dao,
what's
going
to
happen
to
eth
locked,
and
you
know
cdps
and-
and
I
found
that
the
top
level
comment
here
was
actually
pretty
on
on
point.
So
in
phases
0
to
1.
A
Nothing
will
happen
because
2.0
will
effectively
be
separate
from
the
current
chain
in
phase
one
and
a
half.
The
current
chain
will
be
picked
up
like
a
potted
plant
and
carefully
replanted
into
ethereum
2.0.
So
the
chain
will
not
change
and
your
cdp
will
not
change
nothing
about
the
the
chain.
State
changes.
The
only
thing
that
changes
is
the
soil.
It's
growing
in
really
great
analogy
there,
so
so
yeah.
Basically,
you
don't
have
to
worry
east
2.0,
eth
2.0
was
made
with
eth
1.0
in
mind
and
so
yeah.
A
If
there's
any
changes
to
that,
I
will
be
the
first
to
let
you
know.
If
you
regularly
attend
this
tuesday
call
all
right
cool
some
videos
we
had
just
wanted
to
highlight.
Last
week's
community
call
the
conversation
that
kurt
and
I
had
was
really
fascinating.
We
talked
about
the
flash
loan
incident
and
a
number
of
other
related
topics
around
it.
So
definitely
check
that
out.
If
you
weren't
here
last
week,
we
also
had
a
fry
die.
A
Brunch
meet
up
that
happened
this
week
and
it
talked
about
stories
you
know
from
the
glass
ceiling
and
it
talked
about
basically
making
it
as
a
female
in
the
space
and
like
stories
of
success
and
achievements
and
and
yeah
just
growing
the
the
gender
diversity
in
the
space
and
stuff
like
that,
so
check
it
out.
It
was
a
really
really
great
meetup
from
what
I
heard
maker
forum
deep
dive
yeah.
I
already
mentioned
a
little
bit
about
this
top
one
governance
forgets
about
whales.
A
Planet
x
outlines
the
reasons
everyone.
The
reason
everyone's
vote
counts
with
the
mkr
protocol,
and
it
does.
It
definitely
counts,
especially
with
the
with
the
recent
flash
loan
thing
die:
holder
snapshot,
poles,
monet
supply
added,
some
active
poles
to
the
snapshot
voting
portal
to
play
with
divoting.
This
is,
I
believe,
a
just
for
fun
thing.
A
Yeah
he's
like
playing
around
with
the
snapshot
methodology
that
a
lot
of
people
like
a
lot
of
protocols
in
space
are
using
like
bouncer,
I
believe,
is
using
the
same
snapshotting
methodology,
so
so
yeah
check
it
out.
If
you
want
to
play
around
with
it
yeah
the
tweet
of
the
week,
sketchfab
version
of
the
maker
hq
in
decentraland,
it's
pretty
sweet
yeah
a
lot
of
interesting
things
happening
so
so
yeah
got
about
three
minutes,
I'm
kind
of
going
to
leave
it
off
there.