►
From YouTube: MakerDAO Community Meeting - June 19, 2018
Description
Recent Collaborations
- N/A
Recent Events
- June 11: Stanford Crypto Devcon
Upcoming ETH Events
- June 21: SF ETH Dev Meetup
- June 28: BuildETH
- June 30: Dapper Network Bootcamp
- ETHBerlin: Apply to Hack
Recent News
- Oasis launch reschedule
- Debt Ceiling update
- Gitcoin and MakerDao
- ECF and MakerDAO
- DNS spear phish
General Q&A Session
- Ask us (almost) anything
Special Guests
- Lawrence: A new-ish hire (and burgeoning thought leader) Lawrence will talk a bit about his background
- Michael: Will talk about UI/UX challenges at MakerDAO
- Steven Becker: Will recap his recent panel discussion at Stanford concerning governance
- Nik: Will let us know if the most recent episode of Westworld was OK or not OK
A
B
A
Terms
of
recent
collaborations
or
partnerships,
we
have
none
of
those
yet
to
announce
for
this
community
meeting
hard
at
work
and
at
a
couple
events
on
June,
11th
and
12th
we're
at
the
Stanford
crypto
dev
conference
and
which
Stephan
our
head
of
risk
did
a
beautiful
job
on
a
governance
panel.
We're
gonna
come
back
and
talk
to
Stephen
a
bit
about
that
and
he's
gonna
tell
you
a
little
bit
about
the
highlights
in
terms
of
upcoming
events,
we're
gonna
be
presenting
at
the
San
Francisco
etherium
Deb's
meeting
on
June
21st.
C
There's
a
few
interesting
things
in
the
horizon
closer
or
not
as
close
as
I'd
hoped,
but
still
close,
so
we're
doing
all
right.
The
away
cysteine
was
gonna,
launch
the
new
Oasis
test
and
always
is
direct
this
week,
but
there
was
the
last-minute
bug
found
on
the
weekend,
so
we're
gonna
hold
off.
Take
the
the
rest
of
this
week
to
the
retest
make
sure
all
the
Ducks
are
in
a
row
and
the
launch
is
now
scheduled
for
next
Monday,
the
25th.
C
We
have
that
to
look
forward
to
multi
collateral
dye
is
still
largely
on
track
for
a
q3
launch,
not
keep
everyone
updated
in
these
meetings.
Without
changes,
we've
been
talking
about
a
debt
ceiling
raise
for
the
last
couple
weeks
and
Reddit
and
in
our
chat
the
most
recent
time
line,
I've
been
able
to
inhale
down
is
probably
sometime
next
week
for
a
big
announcements.
C
We
have
I'm
actually
quite
excited
about
this
over
a
partnership
going
on
with
get
coin,
L,
4
and
L
4,
L,
4
and
then
maker
Dow
started
something
called
a
stable
fund
a
while
ago,
if
you
guys
aren't
familiar
with
that,
it's
a
40,
45
million
dollar
fund
designed
to
offer
grants
and
sometimes
investments
to
expand
the
dye
maker
data
ecosystem
in
general,
but
we're
partnering
up
with
get
coin
to
offer.
10,000
died
in
bounties
not
to
solve
our
own
problems
but
to
solve.
C
We
have
bugs
and
new
feature
requests
in
the
etherium
ecosystem
in
general,
which
I
think
is
really
cool.
It's
one
of
those
rising
tides,
raise
all
boats
kind
of
plans,
so
the
first
batch
has
been
accepted.
We
find
out
some
fixes
for
solidity:
Casper,
FFG,
eath
utils
a
lot
of
really
cool
projects
that
need
some
added
incentive
to
get
some
things
fixed,
which
I
think
is
great.
C
On
the
drama
front,
we
slept
on
the
8th
of
June.
We
had
a
hack
attempt,
maybe
a
hack
successes,
bends
on
whose
side
of
the
coin
you're
on
I
suppose
there
was
a
spear
phishing
attempts
against
an
employee
aimed
at
getting
access
to
our
DNS
control
panel.
Luckily
it
wasn't
a
terribly
sophisticated
attack
and
we
were
able
to
mitigate
the
damage
fairly
early
on
the
downside
was
that
it
took
a
significant
amount
of
time
to
convince
our
registrar
that
we
actually
owned
the
domain
and
to
get
control
back.
C
If
there's
an
upside
here
and
I
think
there
is
it's
that
there's
a
whole
host
of
new
policies
and
procedures
have
implemented
soon
around
security
in
the
organization
and
we're
also
bringing
in
a
security
consultant
to
put
the
finishing
touches
on
things
so
I
think
it's
part
of
a
growing
process
in
any
organization
at
that
stage,
and
happily
the
one
that
we
just
experienced
was
fairly
well
damaged.
I
guess,
I
think
that's
it
for
new
technical
events.
C
Since
the
last
time
we
spoke
before
I
go,
though
I
want
to
sort
of
throw
out
just
a
question
to
anybody.
Who's,
listening
and
potentially
watching
this
on
YouTube
later
I've
been
wrestling
with
what
the
best
time
and
date
is
for
these
meetings,
and
there
are
a
lot
of
pros
and
cons.
There's
some
pros
that
are
good
for
some
people
like
us
who
are
already
in
an
office
comfy
office
of
the
next
webcam.
C
So
these
times
make
sense
for
us,
there's
people,
apparently
on
the
other
side
of
the
planet
who
might
want
to
join
in
these
things
as
well.
This
could
potentially
not
be
a
convenient
time.
So
if
people
have
suggestions
about
scheduling,
let
us
know
you
can
hit
us
up
a
chat
or
add
something
to
the
agenda.
Read
it
through.
It
would
be
handy
as
well.
I
think
that's
it
for
me.
Just
if
we
wanna
move
on
awesome.
A
D
Okay,
so
for
those
who
aren't
familiar
with
the
goals
of
maker,
Jas
I'm
gonna
give
a
brief
overview
and
then
show
a
very
quick
demo
of
a
bot
that
actually
Lawrence
she's,
also
on
the
call
made
to
demonstrate
the
library
itself
and
then
hopefully
have
a
little
time
for
questions
so
maker
Jas,
which
is
not
officially
officially
the
title
yet.
But
it's
a
JavaScript
library
that
we've
been
working
on
for
a
few
months
now,
I.
D
The
overall
goal
is
for
it
to
wrap
all
of
our
smart
contract
functionality,
by
which
we
mean
really
not
just
the
single
collateral
die
and
CDP
functionality,
but
also
eventually,
the
governance,
stuff
multi
collateral
functionality,
all
that
cool
stuff.
So
for
the
moment
we're
really
in
sort
of
an
alpha
phase,
so
we
have
more
limited
options,
but
eventually
it'll
support
all
of
these,
and
so
some
cool
aspects
of
it.
It's
a
it
has
support
for
back-end
and
front-end
application,
so
you
can
pull
it
in
using
NPM
or
with
the
script
tag
in
the
HTML
file.
D
It
makes
everything
more
accessible.
Obviously,
if
any
of
you
have
looked
into
the
smart
contracts
and
tried
to
decipher
all
the
variable
names,
you
probably
know
that
it
takes
a
small
investment
of
time
to
really
understand.
What's
going
on,
so
our
goal
is
to
sort
of
ease
that
struggle
for
some
I,
so
at
the
next.
So
what
we
have
involved
in
this
current
version
is
our
basic
CDP,
so
you
can
open
and
shut
CDP's.
You
can
lock
collateral
and
take
it
back
out.
D
You
can
pull
out
new
dye
and
wipe
your
debt
and
dye,
and
you
can
also
do
automated
token,
conversions
through
mainly
through
Al
ASIS,
but
we're
also
integrating
other
decentralized
exchanges,
and
this
is
also
helpful
for
both
east
to
west
pass
conversion
chain
and
also
for
selling
the
dye
that
you
pull
out
from
a
CPT
or
exchanging
for
maker.
We
need
to
pay
your
governance,
fees
etc,
and
one
small
other
piece
of
functionality
that
I
think
is
really
cool.
Is
we
have
this
sort
of
developer
playground
which
exists
as
a
part
of
it?
D
So
if
you
run
that
you
can
kind
of
dig
into
the
state
of
a
smart
contract
by
drilling
down
into
these
conveniently
displayed
variables,
and
that
makes
it
really
easy
to
interact
with
contracts
that
you
say,
deploy
it
on
a
test
Network
like
ganache
or
on
Kovan,
or
just
if
you're,
hitting
a
bug-
and
you
don't
understand
why.
So
our
goal
is
not
only
to
have
this
maker
functionality,
but
also
to
provide
some
tools
for
you
know
developing
and
the
etherium
JavaScript
world
in
general.
D
Now
I
will
show
you
the
spot
really
quickly,
just
as
a
you
know,
a
demonstration
of
how
it
would
work.
So
if
you
look
here,
you
can
kind
of
see
how
easy
it
is
to
get
started
with
this.
You
initialize
a
maker
object
by
passing
in
some
base
configuration
options,
and
then
you
simply
call
very
clearly
named
functions
on
it
and
with
a
series
of
these
44
lines
long,
we
can
do
this
cool,
pop-up
bot.
So
what
we're
doing
here
is
we're.
D
Checking
at
CDP
1083
we're
gonna
make
sure
that
it's
at
the
ratio
of
a
200%,
if
it's
not
we're
gonna
top
it
up
by
locking
little
collateral.
You
can
see
through
this
output.
It
checks
it.
It
tells
you
what
the
collateral
and
the
debt
is.
It
sees
that
we
are
well
over
collateralized,
so
it
doesn't
do
anything
so
just
for
the
purposes
of
demonstration.
Let's
see
what
would
happen
if
I
change
to
4.0,
which
would
be
a
super-state,
CD.
D
And
it
checks
it,
it
sees
that
we're
beneath
that
target
ratio
and
it
adds
a
little
bit
more
collateral
to
make
sure
that
everything
is
up
to
where
you
want
it
to
be.
So
that's
just
a
really
simple
example
of
the
sorts
of
things
you'll
be
able
to
do
with
this
library.
More
complicated
ones
might
involve
exchange
integration
or
other
app
integration.
D
I
so
keep
a
lookout,
hopefully
within
the
next
month
or
two
we'll
have
something
out
to
the
public,
we're
just
starting
to
share
it
with
some
partners,
usability
feedback
and
do
that
sort
of
thing
so
I
it's
coming
along
well
and
that
pretty
much
does
the
demo
portion.
Does
anybody
have
any
questions.
C
D
That's
a
great
question
and
I
can't
really
speak
to
the
motivation
and
I
that
drove
making
it,
but
I
can
say
that
all
of
those
are
factors
and
thinking
about
you
know
optimizing
it
for
performance
and
that
sort
of
thing.
So
it's
really
important
to
us
that,
for
instance,
like
the
new
governance
dashboard,
the
new
GI
dashboard
use
our
library,
which
George
centralized
is
the
logic
throughout
our
projects.
It's
also
really
important
to
us
that
partners
I
can
easily
integrate
what
they
need
to
integrate.
D
So,
for
instance,
we
have
this
sort
of
pluggable
service
architecture
within
this
library.
So
the
goal
is:
if
we
have
some
more
complicated
partnerships
coming
down
the
line,
we
can
release.
You
know
partner,
specific
versions
of
this
library,
potentially
or
partner
specific
features
so
that
we
can
I.
C
D
Eventually,
we
will
so.
Our
current
iteration,
of
course,
is
restricted
to
single
collateral
die
then,
just
like
maker
as
a
whole
will
have
sort
of
a
period
where
we
support
single
collateral
and
multi
collateral
and
parallel.
But
yes,
ultimately,
we
want
to
make
it
so
that
a
developer,
State,
hackathons
or
anything
like
that
I
can
I
build
on
any
part
of
maker
platform
by
using
our
library
and
eliminating
what
you
feel
like
comb
through
solidity
is.
E
B
Yeah
we
should.
We
should
talk
to
you
more
about
that,
integrating
the
rest
of
documentation,
yeah
yeah,
the
other
speaking
of
documentation.
The
other
thing
I
wanted
to
mention
as
far
as
motivation
for
for
this
library
is
not
only
for
people
to
use
it
to
integrate
into
their
own
products
and
get
to
the
system,
but
also
to
help
them
understand
the
system
more.
C
Yeah,
it
sounds
great
I
think
that
it
ties
back
into
the
the
DNS
hack
and
is
kind
of
a
strange
way.
It's
the
more
Plan
B's
we
have
that
aren't
directly
tied
to
HTTP.
In
order
to
manage
your
CDP
users,
it's
going
to
be
great,
I
think,
or
at
least
DNS
a
pretend
wrap.
Our
tool
is
an
electron
if
we
can
get
like
a
robust,
well
documented
COI.
Whatever
are
you
going,
I
think
could
be
unbelievable.
A
Cool
thanks
so
much
for
the
demonstration,
Nathan
and
yeah.
If
you
guys
want
an
even
more
extensive
demonstration
this
will.
We
have
some
footage
or
recording
available
after
the
events
that
Ethan
and
some
other
great
integrations
team
members
will
be
at
and
talking
about
summer
Thanks.
Do
we
want
to
move
on
to
a
more
general,
a
sort
of
QA
of
what's
been
going
on.
C
Yes,
thinking
is
like
too,
but
I
think
that
we-
or
at
least
me
I'll,
take
this
one
messed
up
by
posting
the
agenda
so
close
to
the
actual
meeting
itself.
So
we
don't
have
a
huge
turnout
here,
but
if
anybody
has
any
questions
feel
free
to
type
them
up
or
jump
in
at
any
time,
don't
worry
about
interrupting
us,
otherwise
I
think
we
can
potentially
move
on
unless
Nick
you
want
to
I
promised
people
and
update
on
whether
you
think
Westworld
this
weekend
was
okay
or
not.
Okay,
oh.
E
Fairly
in
the
camp
that,
like
it
was
an
amazing
episode,
I
think
that
the
man
in
black
is
kind
of
one
of
these
characters
that
black
experiences
like
so
much
transformation
throughout
the
show,
and
it
makes
him
whereas
other
characters.
I,
don't
know
the
writing
is
kind
of
a
mess
right
now
and
other
characters
have
kind
of
fallen
off
the
deep
end
like
I,
don't
know
what
they
did
with
Dolores,
like
she,
just
kind
of
seems
like
a
shell
of
a
character.
Now
I'm,
like
like
man
in
black,
is
real
like
human
character.
B
C
F
Well,
at
the
moment,
it
really
is
a
case
of
looking
at
the
first
step
with
respect
to
what
the
SEC
has
decided
with
ether.
It's
opened
up
a
whole,
a
whole
landscape
of
possibility,
but
at
the
end
of
the
day,
unfortunately,
we
don't
know
either
they've
decided
clearly
in
terms
of
the
transactional
mobility
for
ether.
F
Now
they're
gonna
have
a
look
at
it,
in
my
opinion,
looks
like
a
case-by-case
basis
on
the
sort
of
commodity
versus
transactional
capability
of
each
of
these
tokens,
so
where
it
falls
well,
obviously
dictates
if
we
do
need
some
sort
of
KY
caml.
You
know
BSA
also
included
as
well,
but
some
that's
gonna,
but
yes,.
B
A
B
They're,
really
looking
for
a
tool
like
this
and
they're
trying
to
carve
out
a
niche
in
that
space,
so
that
was
a
very
early
stage,
startup
or
still
is
very
distributed.
Tech
team
and
so
I
think
it
prepared
me
pretty
well
for
the
experience
of
working
at
maker.
You
know
we're
we're
like
50
60
people
in
15
20
locations,
right,
which
is
which
is
crazy,
but
also
amazing.
B
Sometimes,
there's
no
substitute
for
being
in
the
same
room:
yeah
never
I
have
to
have
a
line
and
then
beyond
halo
I've
been
in
a
bunch
of
different
consumer
web
and
mobile
startups
and
I.
Think
I've
always
been
interested
in
the
intersection
between
attack
and
psychology
like
how
what
you're
building
actually
affects
the
the
person
who's
using
it
and
how
it
changes
their
world
and
makers.
B
C
A
G
G
That's
that's
generally
how
I
feel
about
it
and
then
one
one
more
thing
is
like
because
it's
just
because
maker
specifically
is
a
good
decentralized
system
and
the
users
are
governing
and
running
the
system.
It
allows
us
as
designers
to
really
hyper
focus
on
user
needs
and
the
user
experience
and
not
necessarily
think
as
much
about
you
know.
If
you're
like
a
centralized
entity
or
a
business,
you
need
to
think
about
what
the
business
needs
and
need
to
be
converting
sales
instead
of
row.
G
A
G
It's
it's
definitely
difficult.
I
mean
it
takes
a
lot
of
conversating,
both
with
other
designers
and
developers.
I
think
it's
cool
to
be
a
maker,
because
we've
been
around
so
long,
so
we're
kind
of
at
the
forefront
of
a
lot
of
those
challenges.
So
it's
our
responsibility
to
come
up
with
really
good
solutions
that
could
potentially
be
used
universally
in
the
space
for
a
lot
of
these
problems.
Today,.
G
C
The
the
state
of
the
art
right
now,
a
lot
of
the
bells
and
whistles
are
forefront
in
crypto.
You
I,
like
things
that
in
the
traditional
technologic
nerd
technology
world
would
never
be
exposed
to
an
end-user
that
that
still
are
being
shown.
You
find
that
there's
a
kind
of
a
battle
to
hide
the
complexity
behind
the
scenes,
as
opposed
to
keep
everything
front
and
center,
or
you
think
Thea,
but
a
space
is
going
to
migrate,
naturally
towards
a
simplification
of
these
processes
or
I.
I
do.
G
And
I
think
simplification
is
definitely
the
direction
that
the
space
is
moving
in,
but
simply
simplification
with
the
availability
of
or
the
accessibility
of,
the
more
complex
information
and
the
information
going
on
behind
the
scenes.
So
at
a
base
level
like
everything,
is
simple
and
you
get
a
clear
understanding
of
the
basic
level
of
things
that
are
going
on,
but
if
you
want
to
dig
deeper
having
clear
and
easy
access
to
all
the
information
that
exists
on
a
deeper
level,
that's
that's
kind
of
my
design.
G
Theory
with
these
complex
systems
is
keep
it
simple,
because
if
we
want
to
reach
a
global
audience-
and
we
want
to
be
as
simple
as
you
know-
web
2.0
regular
systems
are
now.
We
need
to
move
in
that
direction,
because
design
and
crypto
space
is
incredibly
complex
and
not
very
accessible
right
now,
but
on
the
other
hand,
a
lot
of
technocrats
that
need
to
know
or
want
to
know
the
more
complex
information
so
having
that
accessible
is
also
really
necessary.
Yeah.
C
I
was
just
going
to
interrupt
you
to
say
exactly
the
same
thing
that
there's
sort
of
two
different
demographics
there's
the
people
that
that
don't
know
anything
about
what's
happening
behind
the
scenes
in
perhaps
shouldn't
know,
because
it's
and
the
other
side
of
the
user
base
that
wants
to
validate
that
you're
doing
everything
correctly.
So
yet
then
sort
of
support
to
two
different
groups.
There
right.
A
Cool
thanks
so
much
Michael
I
wanted
to
talk
to
now.
Steven
Becker
are
a
head
of
risk
who
wowed
the
crowds.
Recently
at
the
Stanford
crypto
dev
conference
on
wire,
he
spoke
on
a
governance
panel
along
with
John
Choi
of
the
etherium
Foundation
and
a
few
others
Steven.
Could
you
give
us
a
little
bit
of
a
recap
of
what
was
interesting
about
that
and
the
impressive
highlights
well.
F
The
one
was
obviously
by
Lawrence
in
terms
of
the
the
reason
he
likes.
This
space
is
because
of
the
intersection
with
the
economics,
but
specifically
the
psychology
and
governance
for
me
is
about
discovering
a
new
organization
that
allows
all
stakeholders
a
say.
So
you
get
a
representation
in
terms
of
who
you
are
what
your
incentive
is
and
what
you
can
contribute
to
the
project
and
what
the
discussion
concluded
was
that
well,
nobody
really
has
a
good
idea
of
what
governance
is
and
we're
of
the
opinion
that
governance
should
be
seen
as
a
new
organizational
structure.
F
To
use
some
traditional
terminology,
it's
a
new
business
structure,
it's
a
hybridization
that
allows
an
expression
of
so
many
kinds
of
businesses
that
have
never
been
thought
of
before
it
gives
the
ability
to
create
capital
structures
that
have
never
been
seen
before
and
and
not
just
in
the
sort
of
capitalistic
sense
where
you
are
varying
towards
a
profit.
But
you
can
actually
use
these
organizations
for
nonprofit
and
for
more
socialistic
in
tendencies.
There
is
a
broad
range
of
application.
That's
going
to
come
from
making
governance
define
these
entities
appropriately.
F
F
The
concept
was
broad
in
terms
of
trying
to
figure
out
why
governance
actually
mattered
to
begin
with
and
I
think
that
was
just
trying
to
get
the
the
philosophical
edge
angled
into
what
we
actually
need
to
do
and
then
from
the
the
technical
aspect.
How
do
you
actually
go
about
representing
people?
How
do
you
go
about
representing
a
voice?
F
F
F
This
is
unprecedented
because
you
know
organizational
Theory
has
told
you
to
centralize,
and
this
is
one
time
in
our
history.
We
have
the
technology
for
this
to
actually
turn
on
its
head
and
we
must
embrace
this.
So
these
new
structures
can
be
formed
so
that
we
can
actually
use
it
for
new
ideas
and
new
technologies
going
forward
as
well.
I
think.
C
That
then
correct
me
if
I'm
wrong
and
I've
heard
or
had
been
a
part
of
a
few
conversations
about
of
governance,
specifically
at
maker
talbot.
I
believe
that
one
of
our
methodologies
is
going
to
take
an
iterative
approach
right
and
you
don't
jump
in
with
both
feet
and
with
a
binder
of
rules
and
regulations
and
say
this
is
governance.
You
start
off
it's
a
transition
from
generalized
to
specific.
Is
that
correct?
Yes,.
F
Correct
I
mean
the
the
very
I
think
the
very
heart
of
all
governance
is
to
realize
that
it's
an
organic
process
and
it
is
iterative,
and
it
is
also
it
is
representative
of
the
unique
distribution
that
is
your
community,
which
are
your
stakeholders.
You
might
find
that
we,
let's
pretend
we're
in
a
another
dimension
and
you've
got
another
make
it
out,
but
it
just
has
a
different
distribution
of
stakeholders.
F
C
E
E
Okay,
I
mean
the
elephant
in
the
room,
for
example,
is
kind
of
Liske.
So
this
has
this
like
governance
thing
and
there's
basically
two
giant
cartels
and
they
make
all
of
the
decisions
and
they're
pretty
much
like
two
warring
factions
and
it's
right.
It's
kind
of
what
Stephen
said:
kind
of
a
an
organic
process
of
iterative
learning
and
finding
what
works
and
what
doesn't
work
and
kind
of
stepping
towards
this
kind
of
end
goal.
Rather
than
to
just
like
say
like
there.
C
I
agree:
I
think
that
there's
in
this
space,
it's
easy
to
believe
that
technology
will
save
us
and
it
can
be
applied
to
every
problem.
If
we
just
find
the
ultimate
algorithm,
we
can
write
that
in
stone
and
then
the
algorithm
will
say
of
us
and
it
doesn't
work
when
you
introduce
people
into
that
mix.
F
Actually,
a
very
interesting
point
that
you
said:
they're
rich,
because
what
Laurence
mentioned
about
the
intersection
of
economics
and
psychology
people
when
they
think
economics
they
think
math,
which
is
really
odd,
because
if
you
had
a
reverse
time
25
years
ago,
when
people
thought
economics,
they
thought
social
science
that
would
have
thought
about
people
about
personalities
and
behaviors
and
how
we
operate
as
groups.
It
wasn't
so
much
math
involved.
So
you
know
this
is
sort
of
revisiting
the
idea
of
well.
Not
all
math
can
solve
all
problems,
and
we
need
to
recognize
that
yeah.
C
David
pointed
something
out
that
is
interesting
in
chat
as
well,
that
the
traditional
political
systems
are
driven
by
culture
and
the
kind
of
governance
systems
that
we're
all
sort
of
pretending
to
invent
in
this
space
are
largely
driven
by
business
and
I.
Think
that
there's
also
an
interesting
intersection
where,
if,
if
there's
something
new
happening,
it's
like
trying
to
combine
both
like?
Is
it
possible
to
come
up
with
a
profit-driven
business
that
also
takes
into
consideration
quality
of
life
or
doing
good,
which
is
fascinating?
Mr.
most-viewed.
F
Traditional
you
large,
traditional
corporations
have
attempted
to
do
that.
That's
why
you
get
that
sense
of
business,
cultural,
driven,
board
representation.
In
other
words,
if
you
have
a
look
at
how
they've
constructed
boards
of
directors
over
the
years,
you'll
see
how
they've
gone
from
executive
to
non-executive
representation
to
non-executive
non-affiliated
representation
to
non-affiliated
unionized
group
is
and
goes
on,
so
they
try
to
imbue
what
is
effectively
the
new
culture
of
their
corporation
at
that
time
in
that
regime
and
then
represented
on
the
board
level.
C
E
Mean
I,
say:
question
you
kind
of
right
now
gave
this
idea
of
company
culture
kind
of
being
reflected
in
the
board
and
now
combining
this
idea
that
you
have
previously
of
tokens
of
having
your
allow
having
your
shareholders
kind
of
eat
the
board.
So
do
you
think
it's
an
opportunity
or
a
danger
for
token
holders,
so
now
you'd
report
unquote
board
to
impose
their
own
culture,
basically
how
governance
works
well,.
F
So
you're
gonna
actually
have
the
effect
felt,
hopefully
quickly.
So
if
there
is
an
iteration
to
to
be
had
I'm
of
the
opinion
that
this
new
structure
will
allow
you
to
actually
have
very
productive
iterations,
as
opposed
to,
if
you
centralize
it
to
a
board,
new
iterations
would
be
not
so
productive
and
you'd
have
to
have
many
more
of
them
over
a
long
period
of
time
with
the
greater
representation,
you
can
actually
come
in
with
a
good
change
vector
and
you
can
find
a
better
representation
in
your
next
iteration.
C
And
I
think
that
this
is
science-based,
voting
or
science-based
proposals
or
reproducible
models
and
frameworks.
So
these
are
the
terms
that
we've
been
tossing
around
a
lot
as
we
talk
about
governance
and
I.
Think
that
that's
an
interesting
perspective
as
well,
because
it's
sort
of
filtering
the
inputs
into
a
governance
system,
but
instead
of
opinions
or
reactions
or
love,
is
or
there's
always
going
to
be
lobbyists.
But
the
lobbyists
need
to
come
to
a
table
with
scientifically
derived
framework
and
a
thesis
to
prove
their
their
supposition,
which
is
a
really
interesting
experiment,
as
well.
F
The
concept
of
a
reproducible
framework
is
so
important
because,
if
you
think
about
it,
a
lot
of
your
misconception
and
confusion
comes
from
an
inherently
different
source
of
information.
Even
when
you
think
it's
exactly
the
same.
So
if
I
can
do
something
and
I
can
give
it
to
you
and
you
do
the
exact
same
thing
and
come
up
with
the
exact
same
on
so
now
we
can
start
discussing
what
we
think
about
us.
C
Let's
ensure
that
David
has
another
good
point
talking
about
culture.
He
says,
ultimately,
that
messages
comes
from
the
maker
Dow
itself
and
builds
the
voter
culture
and
I.
Think
that
that's
a
really
valid
point
that
the
tone
comes
from
leadership
and
it
can.
It
can
really
shape
the
way.
An
organization
moves
and
you'd
have
some
insight
into
how
maker
is
going
to
sort
of
set
the
tone
for
the
way
that
governance
works
or
the
way
that's
proposals
are
are
crafted.
F
It's
going
to
initiate
that
tone,
but
ultimately,
where
it's
going
to
end
up
might
be
a
different
thing
and
that
tone
to
start
off
with
must
be
open,
communicative,
accommodating
and
also
representative.
That's
the
most
important
folks
think
in
terms
of
governance.
They
think
about
token
holders
who
can
issue
a
vote,
but
this
in
our
framework
needs
to
also
include
folks
that
use
CDP's
to
supply
dye
and
also
dye
users,
and
then
there
are
broader
aspects
as
well
that
folks,
other
folks
that
are
that
are
interacting
with
the
the
system
as
well.
F
They
need
to
be
represented
as
well,
and
the
way
that
that
gets
encapsulated
is
really
the
most
important
thing,
because,
ultimately,
if
you
exclude
them-
and
you
just
look
at
governance-
you're,
not
creating
a
thing
for
users,
you're,
creating
a
thing
governance
and
then
ultimately
will
lead
to
your
demise.
I
mean
we've
got.
You
know
many
historical
case
studies.
F
Unfortunately,
in
the
traditional
space,
where
it
shows
you
that,
if
you
focus
on
you
users
and
just
your
users-
and
you
try
your
best
to
cut
through
the
red
tape
and
the
bureaucracy
to
get
to
your
users,
you
ultimately
will,
when
the
ultimately,
not
necessarily
one,
but
you
will
have
a
success
with
respect
to
whatever
framework
you
wish
that
to
be.
That's.
C
That's
fascinating.
You
just
raise
an
interesting
point
that
I
don't
know
that
I've
considered
very
deeply.
Is
that
the
to
vote?
You
need
to
be
a
maker
holder,
so
incentives
are
aligned
in
the
voting
process
towards
presumably
self-interest.
It
would
for
maker
holders
right,
but
I'm
wondering
now
whether
maker
holder's
actually
do
you
represent
those
demographics
that
you
just
described
visit
doesn't
make
her
holder
have
the
same
incentives
that
would
benefit
themselves
and
a
CD
P
creator
and
a
dye
user.
Well.
F
If
you
remember
what
I
said
previously
about
how
the
sort
of
board
of
directors
and
the
shareholders
have
now
sort
of
flipped,
or
rather
just
amalgamated
into
one,
a
part
of
that
is
that's
inherent
fiduciary
duty
and
as
a
maker
holder,
yes,
you
can
just
be
incentivized
by
your
own
standards
of
what
you
expect
from
your
you're
talking
and
you're
holding,
but
in
order
to
get
the
best
out
of
it,
you
definitely
need
to
figure
out
what
is
the
best
for
your
users.
You
now
have
an
implicit
bias,
reduce
it.
F
F
Well,
if
I
can
do
good
by
all
of
them,
I
will
get
this
back
n
fold
if
I
just
go
in
there
with
aspects
of
I'm
only
worried
about
how
much
MKR
is
going
to
go
up,
and
that
means
just
the
supply
of
dye
even
that
by
itself
and
I
hate
to
do
this,
but
you
know
Adam
Smith's
invisible
hand.
This
is
one
aspect
where
it
does
work
quite
nicely.
F
If
you
just
want
the
supply
of
diet
to
increase
so
that
you
benefit
yourself
inherently,
you
may
be
actually
benefiting
the
the
other
stakeholders,
not
necessarily
so,
but
more
generally
I.
Don't
think,
there's
going
to
be
all
use
cases
where
it's
going
to
be
a
general
benefit
for
all
stakeholders,
but
I
think
highly
probably.