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From YouTube: MakerDAO Community Meeting - July 31, 2018
Description
Recent Partnerships
- bZx + MakerDAO - https://medium.com/@b0xNet/bzx-makerdao-9db74678e16e
- Swarm Fund Partners with MakerDAO to Bring Dai Token to Platform - https://swarm.fund/makerdaopartnership/
- Ethereum Alarm Clock dApp Schedules DAI Token Natively - https://blog.chronologic.network/ethereum-alarm-clock-dapp-schedules-dai-token-natively-a54b4c28c5a5
Recent Events
- July 19 – 20: DappCon Berlin - https://www.dappcon.io/
- July 19: Distributed SF - https://2018.distributed.com/#Agenda-section
Upcoming Events
- August 3 – 4: Discon: Distributed Consensus - Boulder https://discon.io/
- August 10 – 12 ETHIndia https://ethindia.co/
- ETHBerlin: Apply to Hack https://ethberlin.com/hacker-application/
News
- Special Governance Meeting on Thursday dedicated to the Stability Fee
- Governance Risk Framework Part II: The Template for Risk and Scientific Governance https://medium.com/makerdao/makerdao-governance-risk-framework-fc8939f3d4e9 by Steven Becker
- Maker for Dummies, Part 2 https://medium.com/@greg_10160/maker-for-dummies-part-2-3b364f86bbfd posted by Greg Diprisco
- Swarm chooses Dai
- /u/tbone creates a gini coefficient graph for Maker holders
General Q&A Session
- Ask us (almost) anything
Special Guests
- Brian Avelo: A new hire on the legal team, Brian will talk a bit about his background and challenges in the blockchain space
---
Website: https://makerdao.com
Twitter: https://twitter.com/makerdao
Reddit: https://www.reddit.com/r/MakerDAO/
Chat: https://chat.makerdao.com/home
Email: info@makerdao.com
A
Hey
today
is
a
Tuesday
July
31st,
so
we've
had
an
exciting
week.
We
want
to
talk
about
a
few
of
the
recent
partnerships
that
have
happened.
We've
seen
a
partnership
with
bzx
and
maker
down,
so
bzx
has
allowed
some
cool
major
areas
of
potential
integration
of
using
dye
as
a
unit
of
account
for
margin
traders
using
bzx
to
create
a
secondary
market
for
dye
and
also
using
the
B's
EXI
tokens
to
collateralize
CDP's
and
the
offset
stability
fees
and
I'm
just
going
along
the
agenda.
A
So
if
you
guys
want
to
check
out
the
links
to
any
of
this,
that's
fantastic
as
well.
Also
swarm
fund
has
partnered
with
maker
Dow
to
bring
the
dye
token
to
their
platform,
which
is
definitely
really
cool,
exciting,
a
partnership
for
us
and
lastly,
and
we've
seen
that
in
aetherium,
alarm-clock
DAP
that
now
schedules
die
Chokin
natively.
So
you
can
test
this
out
on
the
koban
test
net.
In
terms
of
recent
events,
we
had
a
great
experience
at
DAP
con
Berlin,
it
seems
Matt
gave
a
phenomenal
talk.
A
You
can
actually
go
ahead
and
check
out
the
recording
for
and
Nick
had
a
sweatshirt
stolen,
because
maker
is
so
highly
popular
and
distributed.
Sf
Steven
Becker,
our
head
of
risk,
did
a
phenomenal
job
on
a
panel
in
which
he
talked
about
opportunities
for
the
underserved
and
how
it
is
that
maker
is
creating
some
of
those
opportunities
with
projects
like
Bifrost,
as
well
as
the
20%
principle,
in
terms
of
upcoming
eath
events
and
from
August
3rd
to
4th
we're
going
to
be
a
disc
on
it's.
A
A
cool
conference
in
Boulder
Colorado,
so
Ethan
will
be
giving
a
workshop
I'll
be
giving
a
bit
of
an
overview
of
maker
to
those
that
haven't
yet
experienced
the
magic
and
then,
following
that,
August
10th
to
12th
is
East
India
in
Bangalore,
where
we're
gonna
officially
launch
the
your
JavaScript
library
and
interact
with
some
hackers
there
and
see
what
they
can
create
and
then
eath
Berlin
is
happening
in
September.
So
please
feel
free
to
apply
to
a
hack
there
and
work
on
some
maker
bounties.
B
I
want
to
talk
about
some
things
that
are
happening
on
my
world,
which
is
the
online
world.
I
want
to
I
can't
keep
talking
about
this
in
each
one
of
our
meetings,
but
here's,
our
fourth
or
fifth
reminder
we're
having
a
series
meetings
throughout
the
week
and
it's
important
that
people
join
if
they
have
any
interest
at
all
in
the
inner
workings
of
maker
and
the
direction
that
we're
taking
in
the
future.
Some
of
our
major
initiatives
that
affect
the
foundation
itself
so
on.
B
Excuse
me
so
on
Tuesdays
we're
having
these
general
ketchup
meetings
talking
about.
What's
going
on
what
will
be
going
on
on
Wednesdays
we're
having
a
series
of
recurring
even
again
recurring
meetings
with
Riaan
Christensen,
where
we
discuss
issues
related
directly
to
the
foundation
in
the
operation
of
that
of
the
maker
foundation
and
charitable,
giving
issues
like
that
on
Thursdays.
We
are
doing
very
interesting,
deep
dive
into
scientific
governance
and
the
risk
for
homework
which
it's
a
bit
dry.
B
Speaking
of
Thursday
meetings,
we
recently
announced
the
stability
fee
raise
which
has
generated
a
great
deal
of
conversation
in
the
commune,
which
is
great,
I've
posted
an
FAQ
to
our
subreddit.
Those
is
a
recap
and
sort
of
a
condensation
and
welding
it
back
and
forth
that
we've
had
and
all
the
questions
that
have
been
asked.
There's
there's
still
a
lot
of
ground
to
go
over
so
on
Thursday.
B
This
Thursday
we'll
be
having
a
special
themed
version
of
a
scientific
governance
meeting
that
will
be
dedicated
specifically
to
stability
fee,
its
implications
why
it
happened,
how
we're
going
to
implement
it.
I'm.
Looking
forward
to
that
we're
gonna
have
some
a
series
of
special
guests,
so
room
will
be
there.
Stephen
Becker
will
be
there.
Of
course,
gonna
have
Lev
he's
one
of
our
econ
geniuses
in
attendance
and
Greg
depress
Co
who's
from
our
business
development
unit,
but
this
also
has
a
keen
financial,
mind
and
heesun
and
a
degree
to
show
for
it.
B
B
Some
other
interesting
things
come
from
the
community
this
week
as
well.
We
have
a
lot
of
people
generating
content
for
us,
which
is
great,
so
Greg
depressive,
a
I
just
mentioned
our
business
development
head
he's.
Also,
the
writer
of
a
document
that
he's
referred
to
I
think
more
than
any
other
in
our
ecosystem,
which
is
the
original
maker
for
dummies,
blog
post,
which
is
what
long
before
I
was
hired
at
maker.
I
was
I
stumbled
on
something
called
the
CDP
in
a
subreddit
somewhere
wants
to
know
what
it
was
googled.
B
Why
make
her
down
CDP's
and
I
are
all
pretty
big
deals,
and
it's
one
of
the
few
articles
that
I've
read
that
actually
encapsulates
all
the
other
value
propositions
into
one
easy
to
digest
article
so
I
highly
recommend
people
read
that
there
will
be
a
link
in
the
description
below
when
we
post
this
to
youtube.
So
please
check
it
out.
I
just
mention
the
swarm
has
elected
to
use
die
which
is
cool
but
I.
B
Think
it's
especially
cool
because
it's
an
example
of
if
the
first
organization
that
I'm
aware
of
that
had
plans
for
its
own
stable
point
at
lunch
and
sort
of
camera
to
the
idea
that
that's
harder
than
it
may
initially
look
and
they
chose
to
adopt
die,
which
I
think
is
a
fairly
big
win
for
us.
Swarm
is
worth
doing
some
research
about
they're,
doing
some
really
interesting
things
with
security,
sauce,
optimization,
but
the
confidence
level
efficient
of
they
have
enough
to
adopt
I
think
is
a
huge
win
for
us
I
also
from
the
community.
B
This
week,
user
t-bone
I,
don't
know
what
his
real
name
is
posted
an
image
and
is
OTO
upload
some
code.
That
shows
what
the
Gini
coefficient
is
for
the
maker
token
and
I
had
to
check
Wikipedia
to
find
out
what
that
meant.
But
it's
a
really
interesting
way
of
looking
at
the
dispersal
of
wealth
through
an
economy
which
works
just
as
well
with
the
allocation
of
tokens
in
a
crypto
economy
and
he's
doing
some
interesting
work.
B
That
shows
how
many
people
are
holding
and
how
much
those
people
have-
and
this
is
interesting
to
me,
because
it
ties
into
another
conversation-
we've
been
having
in
the
governance
meetings,
where
we
talk
about
a
range
of
issues,
but
not
least,
which
is
our
render
threat
of
an
emerging
plutocracy.
And
how
do
we?
How
do
we
keep
track
of
winners
and
losers
in
the
system?
B
How
do
we
determine
what
it
takes
to
pass
a
successful
vote
and
coming
up
with
code
that
determines
who's
holding
maker
tokens
and
how
much
how
many
tokens
they
possess
is
a
really
great
stuff
to
get
there.
So
I
wanted
to
give
a
shout
out
to
t-bone
for
doing
that,
he's
going
to
post
that
to
get
up
soon
know
they're,
providing
link
to
people
that
want
to
use
that
Python
script
for
themselves.
I!
A
And
that's
great
cool!
Well
now,
let's
talk
to
somewhere
super
special
guest,
and
so
we
have
Brian
Novello.
Who
is
a
new
hire
for
the
legal
team?
I'm
gonna
ask
Brian
a
few
softball
questions
and
terms
are
Scott
laughing
he's
gonna,
take
it
over
to
hardball
so
Brian
ahead.
You
want
to
tell
us
a
bit
about
what
your
new
role
is.
C
It
ever
worked
with
some
of
the
investors
behind
projects
like
auger
and
some
other
projects
in
the
space
really
kind
of
a
diverse
practice.
I
think
you
know,
my
role
here
at
maker
is
really
helping.
The
organization
evolve
legally
speaking
from
a
start-up
that
you
know
was
all
less
than
puppet.
Two-And-A-Half
three
years
ago
was
a
handful
of
individuals
to
what
it
is
today,
which
is
an
entity
that
employs
or
a
series
of
entities
that
employ.
B
I'm
gonna
jump
in
with
some
mature
cloths.
Actually,
so
the
law
fascinates
me
from
the
outside
I,
don't
think
I
have
I'd
be
able
to
do
from
the
inside,
but
from
the
outside.
Isn't
it's
fascinating
endlessly?
Do
you
think
there's
any
specific
challenges
with
being
legal
counsel
for
somebody
in
the
block
change
space,
as
opposed
to
the
traditional,
oh
yeah,.
C
Cut
it
out,
I
mean
just
talking
about
at
a
very
general
kind
of
10,000
foot
level.
You
know
special
over
the
last
year,
we
know,
what's
been
the
main
issue
confronting
startups
in
the
blocking
space
in
sales,
I
CEOs,
dealing
with
an
ever-changing
kind
of
securities
regulatory
environment
and
uncertain
until
fairly
recently
regulatory
environment,
United
States
how
to
deal
with
all
the
taxes
tax
issues
that
come
about
with
whether
you're
doing
token
sales
based
in
United
States,
whether
you're
doing
token
sales
overseas,
where
your
buyers
necessarily
sit
I
mean
just
on
the
securities
standpoint.
C
It's
been
very
challenging,
like
I,
said
up
until
the
last
few
months
to
have
any
sort
of
regular
old,
better
said
than
any
sort
of
regular
regulatory
clarity,
but
a
firm
regulatory.
You
know
footing
to
place
yourself
on
so
when
you
are
acting
the
way
your
business
wants
to
act,
you're
not
always
looking
over
your
shoulder
as
to
what
could
the
consequences
of
those
actions
be
right?.
B
C
I,
don't
think
we're
stumbling
around
in
the
dark
and
we
being
just
players
in
the
space
in
general,
I
think
at
least
on
the
on
the
US
side
and
even
and
increasingly
from
other
international
jurisdictions.
You
know,
you're
looking
at
some
of
the
certain
jurisdictions,
the
Malta's
became
ins,
the
Hong
Kong's,
the
Singapore's
Japan,
to
a
large
extent,
are
starting
to
provide
the
regulatory
clarity
in
which
these
businesses
can
begin
to
function
and
continue
to
function.
B
C
It's
more
of
a
matter
of
they
don't
understand
it
and
they're
in
the
process
of
getting
educated
and
the
people
that
work
in
the
regulatory
and
regulatory
agency
SEC
just
see.
If
you
see
what
have
you
are
I
think
personality
types
are
risk
adverse
right,
so
they
tend
to
be
more
methodical,
approaching
how
to
regulate
or
to
deal
with
a
growing
industry.
And
it's
a
matter
of
people
like
ourselves
in
the
community.
C
You
know
putting
out
educational
pieces,
educating
the
regulators
as
to
the
positive
attributes
of
what
the
sector
is
growing
into
when
it
can
become
or
when
it's
already
become
and
will
become
in
the
next.
You
know
three
to
five
years
and
I
think
you
know
you
you
look
at
like
I'm,
sorry
to
interrupt.
You
could
go
ahead
rich,
oh,
so.
B
C
I
think
it
can't
have
an
impact
right.
It
has
to
be.
You
could
have
an
SRO
that
if
you
get
buy-in
from
a
regulatory
agency,
the
ones
that
matter
this
SEC
the
CFTC,
perhaps
the
FTC
I-
think
it
could
yeah.
You
could
have
an
SRO
which
basically
could
put
out
frameworks
that
could
easily
be
adopted
by
easily
be
adopted
by
regulatory
agencies,
and
that
would
give
you
know
larger
players
in
this
space.
You
know
a
real
voice
in
crafting.
You
know
the
regulations
that
could
be
presented
to
eventually
be
adopted.
C
I
think
you
already
see
you're
already
kind
of
seeing
that
come
out,
I
mean
look
at
I,
mean
I,
know
I'm.
People
on
this
phone
call
follow
regulatory
developments
closely
and
there's
been
a
lot
of
news
about.
You
know
a
group
of
Silicon
Valley
investors
in
conjunction
with
some
lot,
some
of
the
larger
law
firms
that
were
I,
don't
want
to
say
pioneers,
but
certainly
the
the
people
that
were
leading
the
charge
with
I
SEOs
and
with
the
staff.
C
This
is
a
simple
agreement
for
future
tokens
document
that
came
out
there
in
the
file
coin
token
sale.
As
far
as
starting
a
dialogue
and
doing
their
part,
educating
the
SEC
and
I
think
what
you've
seen
from
the
SEC
thus
far
is
that
that
tensional
campaign
of
education
is
having
positive
effects
into
how
they
are
perceiving
the
market.
I
mean
you
saw
a
commissioner
Hinman
made
some
comments
about.
C
You
know
not
only
about
ether
or
not
being
a
security,
but
laying
out
a
roadmap
for
how
organizations
and
platforms
could
be
sufficiently
decentralized
so
as
to
have
their
tokens
not
be
considered
securities.
I
think
we
talked
about
signaling
that
is
strong
signaling
from
the
SE
c--
as
to
how
you
know
whether
it's
file
coin
or
whether
it's
our
chain
or
what-have-you,
how
they
could
function
in
a
way
where
they
could
stay
on
top
of
and
in
a
good
position
with
regards
to
the
law.
C
B
C
A
good
question
and
it's
a
good
question,
I
think
the
US-
and
this
is
these-
are
only
my
my
personal
feelings,
I'll
just
preface
it
you
know,
I'm,
not
speaking
on
behalf
of
the
maker
legal
department.
Maybe
yosik
would
have
it
different
kind
of
thoughts
on
this
or
Chris,
but
I
think
the
u.s.
the
u.s.
is
cautious,
but
we
don't
necessarily
look
to
you
know.
We
don't
look
to
one
other
country.
You
know
look
at
Japan
or
Australia
or
France,
that's
kind
of
the
torchbearer
that
which
we
will
follow.
I
think
the
u.s.
C
tends
to
see
itself
as
well.
Wilmeth,
Adak,
Lee.
Consider
the
can't
rule
methodically
consider
the
landscape.
Then
we
will
take
a
position
and
then
other
countries
that
tend
to
look
us
for
it
tend
to
look
to
our
securities
commission.
Our
Securities
and
Exchange
Commission
for
kind
of
a
regulatory
roadmap
will
follow
right.
So
I'm
speaking
about
you,
know,
I've
in
my
past
life
I
did
a
lot
of
work
in
Latin
America
and
at
least
with
countries
like
you
know,
for
example,
Brazil
through
a
certain
acceleration
Tina.
You
see,
you
know
Brazil.
C
For
example,
you
see
the
regulatory
agency,
the
CVM,
which
is
their
equipment.
The
SEC
will
closely
hew
regulatory
developments
on
lines
and
what
the
SEC
does
and
I
think.
If
we
make
this
example
right,
if
the
u.s.
gets
it
right,
it
can
be
very
beneficial
for
other
countries
to
easily
adopt
kind
of
our
approach
to
things
and
I'm,
not
saying
that
you
know
xenophobic
or
nationalistic
sort
of
way,
but
it's
just
you
know
the
u.s.
does
tend.
If
it,
the
u.s.
tends
to
be
a
trendsetter
for
how
regulatory
platforms
are
necessarily
adopted.
B
The
threat
of
this
this
there's
two
competing
motivations
of
not
wanting
to
miss
the
the
blockchain
book,
but
also
not
wanting
to
destabilize
an
economy.
I
have
both
want
to
sort
of
go
counter
to
50
or
60
years
of
video
3
history.
Suddenly
it's
true
so
I
know
that
this
is
probably
going
to
be
a
hard
question
to
answer
sure,
there's
many
ways:
what's
what
would
it
up
to
legally
with
maker
right
now?
That
might
be
interesting
to
talk
about.
C
That
I
can
talk
about.
I
can
tell
you
this
we're
working
on.
You
know
from
it
like
I,
like
I,
was
kind
of
alluding
to
operationally
we're
getting
D
getting
the
company
we're
getting.
You
know
getting
the
organization
to
really
function
like
a
to
function
like
a
well-oiled
machine,
a
well-oiled
startup,
as
opposed
to
that
as
opposed
to,
but
as
as
a
organization
that
is
evolving
right,
going
from
being
a
toddler
two
or
three
years
ago.
C
To
being
you
know,
a
full-grown
adult,
or
at
least
on
the
way,
to
being
a
full-grown
adult
and
that
in
and
of
itself
at
least
from
the
legal
department.
You
know,
there's
a
lot
of
the
not
the
sexiest
work
and
something
in
some
respects
right
and
we're
not
talking
about
interfacing
with
regulatory
agencies
or
kind
of
high-level
questions
about
securities
or
commodities.
C
Or
what
have
you,
but
you
know,
making
sure
the
business
kind
of
functions
in
a
way
where
it
really
continues
to
grow
at
the
clip
it's
growing,
while
also
presenting
itself
well
to
the
public
and
potentially
to
their
stakeholders
in
the
space.
I
think
to
talk
more
about.
You
know
what
I
find
personally
very
interesting,
a
maker,
just
all
the
different
all
the
different
deals
that
were
entering
into
obviously
the
trade
ship
freezer.
C
These
are
things
that
you
know
our
business
development
team
has
done
an
incredible
incredible
job,
making
these
relationships
and
really
selling
you
know
pushing
for
for
not
only
adoption
of
dye,
but
you
know
the
education
about
dye
in
the
maker
system.
In
addition
to
the
work
that,
on
the
governance
side
on
the
wrist
side,
you
know
really
getting
into
the
technical
weeds
about
educating
all
the
different
stakeholders
in
the
space.
C
So
from
legal
perspective,
it's
you
know,
I'm
kind
of
sitting
behind
all
these
different
developments,
making
sure
that
you
know
what
we're
putting
out
to
the
public
is
correct
and
it's
not
risky,
and
in
addition
to
that,
you
know,
if
there's
there's
the
all
of
the
kind
of
complications
that
one
would
expect
in
a
start-up
of
you
know
a
rapidly
growing
startup
of
75.
You
know
international
based
employees,
so
sorry
for
the
long-winded
answer.
I
hope
that
that
covers
what
you're
thinking
rich
know.
C
B
B
C
Tell
you
you
know,
even
before
I
started,
working
with
Maker
I've
been
working
with
that
a
long
time
and
some
other
companies
in
the
space
and
I
think
that
one
of
the
trends
that
we're
talking
about
kind
of
academic
interests,
one
of
the
trends
I'm
seeing
and
blockchain-
is
this.
The
embrace
of
older
quote,
unquote,
types
of
corporate
forms
or
company
forms
and
the
production
of
better
term
rejigging
them
to
work
for
work
with
blockchain,
distributed
decentralized
teams
and
platforms.
I.
Think
one
of
the
things
that
you
know.
C
If
we're
talking
about
trends,
one
of
the
things
I
think
you'll
see
in
the
very
near
future,
is
blockchain
based
distributed
teams
platforms,
Dow's
adopting
cooperatives
as
they're
government
facing
entity,
because
these
are
member
managed,
democratically
governed
government
sanctioned
entities
through
which
you
can
have
you
know
distributions.
You
know
even
distributions
of
dividends,
even
distributions
of
payments
through
different
members
in
an
organization
in
an
organization
that's
organized
hierarchically
and
run
by
the
members.
C
So
there's
already
been
a
little
bit
of
writing
about
this
you'll
see
something
that
I
probably
will
publish
in
the
next
few
days
about
just
cooperatives
in
general
and
one
specific
type
of
cooperative,
the
limited
Cooperative
Association.
But
that's
something
for
you
know
anyone
that
has
an
interest
in
the
legal
side
of
the
space,
how
how
the
legal
landscape
is
evolving,
I,
think
the
use
of
cooperatives,
specifically
in
United,
States
and
also
overseas,
for
how
the
teams
will
start
organizing
themselves
in
the
very
near
future.
Yeah.
B
I
agree
completely:
the
first
time
that's
I
got
into
this
space
relatively
late
I'm,
not
like
everybody
else.
You
somehow
discovered
that
kinda
minute
it
was
the
way
pick
was
launched,
but
the
first
time,
if
somebody
described
it
Dow
to
me
I,
interrupted
them
and
said:
oh,
you
mean
a
co-op
exactly
exactly
it's.
C
A
it
fits
so
naturally
with
how
a
lot
of
these
teams
function
really.
It
really
really
does
and
I
think
at
least
the
United
States.
You
know
when
you
hear
the
word
co-op,
you
think,
okay.
Well,
it's
either
a
grain
silo
owned
by
a
number
of
farmers
or
it's
a
your
local
grocery
store
people.
Are
you
don't
want
to
say
ignorant
but
they're,
not
as
I'm?
It's
not
well-known
how
pervasive
the
use
of
cooperatives
is
really
in
our
economy.
C
There's
a
lot
of
different
large
organizations
that
function
as
cooperatives
and
they
still
fly
under
the
radar,
but
I
think
the
form
itself
is
very
well
suited
to
the
blockchain
space,
especially
distributed
teams
in
which
there's
you
know,
there's
not
one
leader
or
one
kind
of
figurehead
to
run.
You
know
an
entity
organization.
It.
C
C
B
A
C
But
we
haven't
yeah
I'm
comfortable
and
telling
you
that
we
haven't
discussed
the
maker
foundation
as
a
cooperative
I'm.
Just
talking
about
cooperatives
in
general
and
I.
You
know
worked
with
other
companies
in
the
blockchain
space
that
are
organized
and
organizing
as
cooperatives,
but
but
at
present
no
I
don't
have
any
discussion
about
having
a
cooperative
for
maker,
at
least.
A
C
The
latter
I
think
it's
still
kind
of
an
ongoing
discussion.
Mm-Hmm,
but
there's
no
I
mean
no
I,
think
I
mean
I
personally,
not
speaking
for
anyone.
You
know
not
speaking
from
a
team
I
like
the
co-operative
form,
I
think
it
functions
well,
but
it's
something
that
we,
you
know
we
still
are
just
kind
of
discussing
internally.
B
C
B
Go
we'll
definitely
have
you
back,
alright,
I
think,
that's
it.
So
thanks
everyone
for
joining
the
meeting,
I'll
be
posting
this
to
YouTube,
presently
and
I'll
put
a
link
in
the
subreddit
and
in
our
chat,
if
you
guys
want
to
see
how
or
further
back
anything
that
happening
to
me.
Alright
thanks
take.