►
From YouTube: MakerDAO Community Meeting - May 8, 2018
Description
MakerDAO Community Meeting on youtube livestream with Sean Brennan and Jess Salomon. We are streaming the Teamspeak conversation over this youtube livestream. In order to participate with voice in the meeting head to the Teamspeak @ ts.makerdao.com
Here is the link to agenda: https://docs.google.com/document/d/1GbfXzM085mks3wBadubZgmzKZ0Da14t3DS8jc-GL8Nc/edit
A
A
A
And
yeah,
please
feel
free
to
just
talk
and
teamspeak
and
totally
talk
over
me.
Even
if
that,
like
light,
is
flashing
and
I'd
be
super
happy
about
that.
I've
shared
an
agenda
in
the
teamspeak
box,
but
let
me
go
ahead
and
share
that
agenda
on
just
normal
maker
chat
and
some
other
convenient
places
too.
So
you
guys
can
all
see
what's
happening.
C
A
Right-
and
there
is
the
agenda
there-
one
second
I'm
gonna
figure
out
how
to
just
screen
share
this,
for
all
of
you
guys
and
we'll
be
solid
and
I
am
very
much
apologize.
But
the
meta
sounds
within
teamspeak
have
been
somewhat
uncooperative
with
me
and
refused
to
quiet
down,
but
I'll
figure
it
out
soon
enough.
A
Right
so
so,
I
have
screen
shared
my
entire
screen
for
you
all.
So
let's
go
ahead
and
just
start
going
through
these
updates.
So
this
is
the
maker
community
call
of
May
8th
I
have
an
update
from
design
Henry.
Who
is
our
head
of
design
he's?
Let
us
know
that
he's
on
boarded
a
new
product
designer
he's
continuing
to
prototype
and
explore
UX
solutions
around
the
community
forum,
while
it's
integrations
and
government
and
currently
in
development,
we
have
a
new
dye
dashboard
and
a
new
marketing
site.
A
We
have
been
update
from
product
Soren
who's
been
meeting
with
potential
partners
and
stakeholders
he's
an
initiated,
a
search
or
a
head
of
QA
to
be
based
in
Copenhagen,
where
we
also
are
looking
for
a
couple
of
developers
initially
for
developing
scenario
tests.
So
maybe
you
guys
are
one
of
the
developers
that
Storen
happens
to
be
looking
for.
A
In
addition
is
Sauron
and
his
team
is
looking
for
developers
and
your
to
work
on
our
user
facing
solutions,
so
dashboards
Steven,
our
head
of
risk,
has
an
update.
An
outline
of
the
risk
framework
will
be
out
by
the
end
of
May.
The
outline
will
cover,
with
the
MKR
token,
holding
needs
to
consider
in
evaluating
risk
parameters
for
collateral
and
the
system
as
a
whole.
We
have
quantitatively
assess
a
large
number
of
tokens
to
use
as
collateral
and
have
been
approached
by
a
dozen
organizations
from
whom
we
have
started
the
onboarding
process.
A
Some
of
the
organizations
in
a
process
include
digits
and
hello
old,
which
we
are
delighted
to
start
partnering
with.
So
please
keep
an
eye
on
this
community
channel,
and
so
this
community
channel
being
basically
the
community
meetings
as
well
as
just
of
course,
what's
going
on
over
and
make
your
chat
and
run
it
as
the
updates
are
probably
going
to
be
given
in
those
places
first
and
in
terms
of
announcements.
A
So
we
had
a
super
accessible
experience
at
ed
con
and
we're
looking
forward
to
delivering
on
all
those
incredible
connections
and
ideas
with
some
other
announcements
as
well.
If
you
follow
our
Twitter
or
write
or
just
a
general
chat,
you've
probably
seen
me
go
ahead
and
post
a
number
of
these
blogs
detailing
some
of
the
cool
partnerships
that
have
been
happening
lately,
we've
integrated
request
token,
we
partnered
with
switch
chain
I'm
token
feels
that
we've
in
fact
made
history
with
them.
A
We've
posted
a
blog
explaining
how
died,
addresses
centralization
and
counterparty
risk,
which
you
can
go
ahead
and
check
out
get
coin,
and
the
consensus
project
that
we're
super
excited
about
has
introduced
died
as
a
bounty
reward
and
another
consensus
project.
We're
really
excited
about
Kaori
has
demoed
maker
is
one
of
the
first
platforms
and
this
cool
growing
set
of
developer
tools
so,
and
they
actually
did
their
demo
at
con
it'll
be
for
you
guys
to
check
that
out
and
start
learning
from
each
other.
A
C
A
C
C
That
con
is
you
know,
is
an
interesting
conference,
a
lot
of
very
smart
people.
It's
one
of
the
few
times
in
my
life,
not
to
utah's
my
life.
That's
someone.
I
have
the
great
pleasure
of
usually
being
the
dumbest
guy
in
the
room
at
conferences
like
that
Cohen
on
courses
like
Def
Con,
wouldn't
recommend
any
of
you
who
are
interested
in
the
comings
and
goings
of
the
the
etherium
space
to
get
involved
or
go
to
those
conferences,
as
they
come
up
just
learned
a
lot.
Some
really
great
speakers.
C
C
A
A
C
So
maker
Dow
is
a
global
operation
right.
You
know
we
are
looking
at
regulatory
frameworks
in
Europe,
the
United
States
Japan
I.
Think
actually,
Japan
is
probably
one
of
the
most
interesting
places
right
now
in
terms
of
the
regulation
of
cryptocurrency,
so
you
guys
may
remember
a
little
magic.
The
gathering
exchange
card
exchange
called
now
Gus
that
blew
up
so
spectacularly
in
2014,
like
the
winter
early
spring
of
2014.
C
It
was
domiciled
in
Japan
and
they
had
a
deal.
You
know
the
JSA,
which
is
the
Japanese
equivalent
to
the
the
American
SEC
had
to
deal
with.
This
is
very
large
embarrassment.
This
unregulated
exchange
operating
in
Japan
and
in
q2
q3
of
last
year
AFSA
started
implementing
a
licensing
regime
or
cryptocurrency
in
a
way
that
was
much
different,
different
than
know-how
and
regulates
what
it
would.
C
Accounting
and
this
precipitated
a
I,
have
to
say:
I
have
a
very
serious
and
kind
of
you
know,
chilling
response
on
on
all
of
these
or
all
these
exchanges,
but
there's
still
a
lot
of
very
interesting
things
that
are
happening
in
Japan
and
I'd
like
to
just
give
you
a
little
example,
just
kind
of
show
where
I'm
really
like
in
my
mind
why
I
think
Japan
is
much
further
ahead
than
really
any
other
jurisdiction
in
the
entire
world.
So
there's
an
exchange
called
coin
qu
io
and
me
there
are
licensed
crypto
currency
exchange.
C
They
are
also
in
exchange
with
some
800
million
dollar
ICO
in
243
I.
Don't
know
I
can't
remember
where
their
token
does,
but
you
know
I
encourage
you
all
to
just
kind
of
like
thanks
for
a
moment
what
would
happen
to
the
likes
of
coinbase
or
circle
or
or
Gemini
they
went
out
and
they
did.
You
know:
100
million
dollar
oz.
Oh
right,
so
there's
a
lot
of
lot
of
scary
things.
There's
a
lot
of
uncertainty.
You
have
a
lot
of
you
know.
Soothsayers
reading
the
tea
leaves
right
now
saying
at
home.
C
What's
the
sec
it
to
see
it
to
see
what
they
all
gonna
say
right
and
there's
a
lot
of
ambiguity,
and
I
don't
think
anyone
really
knows
what
kind
of
like
be
next
steps
on
the
legal
front
will
actually
look
like
here
in
the
United
States.
Maybe
we
can
imagine
like
worst
cases
we
can
imagine
like
best
cases,
but
obviously
you
know
the
truth
will
be
somewhere
in
between
and
being
able
to
kind
of,
you
know
distinguish
between.
C
What
is
good,
what
a
regulatory
regime
looks
like
a
bad
regulatory
regime
looks
like
you
know.
I
would
just
encourage
regulators
globally
start
looking
at
Japan,
the
second
largest
continent
Asia
and
their
approach
tree
and
good
currency
regulation.
It's
a
very
long-winded
kind
of
sanctification
on
the
fast-moving,
fast-moving
space
of
the
legal
and
regulatory
world
cryptocurrency
and
when
you
obviously
make
her
doubts
trying
to
find
find
a
home
within
this.
This
broader
you
know
global
regulatory
environment.
A
C
Yeah
I
mean
that's
what
we're
here
for
right
like
take
nope
it
serious
like
an
all
seriousness
that,
like
you,
know,
yeah
it's
just
no
one
come
on
Leah,
right,
Hannah,
I,
think
if
anyone
is
saying
that
they
have
the
right
answers,
they're,
probably
either
talking
about
the
worst
case
or
the
best
case.
No
one
really
knows
right.
C
A
C
So
we
I'm
not
gonna,
go
into
legal
strategy,
unlike
how
we
kind
of
like
how
we
operate.
You
know,
maker
Dow
uses
several
globally
recognized
law
firms
to
help
us
kind
of
navigate.
This
uncertain
world
of
you
know,
regulation
around
cryptocurrency,
well,
yeah
I'm,
not
gonna,
not
gonna,
go
into
specifics
right.
We
talk
like
generally,
you
know
we're
we're
I.
Think
the
baseball's
going
in
you
know,
like
I,
was
saying
earlier.
I
think
it's
really
exciting
to
see
Japan
kind
of
implement.
You
know
thoughtful
regulation
around
cryptocurrency.
A
A
C
B
B
B
B
B
The,
if
you
mean
the
coins
that
are
sold
off
in
case
of
a
liquidation,
I
am
during
liquidation,
CDP's.
Those
are
also
sold
through
the
smart
contracts
and
that'll
be
more
of
a
auction
style
system.
So
look
for
a
tutorial
on
how
to
get
involved
in
the
auctions
in
the
next.
Whenever,
when
we
release
that
it
won't
be
as
simple
as
just
buying
that
being
the
first
person
to
buy
the
liquidated
tokens.
C
B
A
A
A
And
just
to
reiterate
for
the
recording,
a
Knicks
response
to
James
Flynn's
question
as
to
how
does
make
your
view
of
died
and
lost
account
died
and
lost.
Accounts
will
just
continue
to
accrue
debt
on
the
CVP
to
to
fees
until
one
day
it
falls
below
the
collateralization
threshold
and
then
gets
liquidated
James
Flynn
says.
Thank
you.
That's
exactly
what
I
want
to
know.
A
So
yeah
there
are
a
few
explain
like
I'm
five
articles
out
there,
explaining
how
it
works,
but
I
suppose
there's
always
room
for
more,
especially
as
the
workings
get
slightly
more
expansive
and
more
complex,
so
expect
more
of
those
posts
to
come.
Our
way
and
thank
you
David
for
the
comment
as
to
the
straightforwardness
of
the
current
white
paper.
A
See
another
question
from
Gary:
when
we
expand
to
multi
collateral
die:
where
will
the
coins
be
sold
during
liquidation
of
CDP's
across
all
exchanges
or
just
an
oasis
or
in
some
mix
so
I?
Imagine
the
plan
will,
of
course
be
across
the
number
of
exchanges,
as
those
other
exchanges
then
choose
to
enter
great
in
coins.
What
have
you
as
well
as
an
oasis,
so
I
expect
a
bit
of
the
mixture.
C
B
I
sort
of
answered
this
earlier
when
I
said
that
during
the
liquidation
of
CDP's
in
the
multi-cloud
rail
system,
it's
going
to
be
an
auction
base
system,
so
the
coins
will
still
be
sold
through
the
smart
contracts,
but
it
won't
be
as
straightforward.
So
look
for
a
tutorial
on
how
to
get
involved.
You'd
probably
have
to
do
that
through
some
sort
of
automated
bot
like
a
keeper,
but
we'll
give
a
tutorial
on
how
to
get
involved.
B
C
Yeah
I
think
it's
a
really
important
point.
Just
kind
of
like
underscore
again
is
that
you
know
in
these
auctions
take
place
just
an
autonomous,
smart
contract,
but
you
know
any
any
user
keeper
that
has
access
to
the
Internet
via
terraeum
watch
it
and
just
stove
in
and
see,
and
then
just
you
know
date
on
that
collateral.
C
It's
not
like
it's
it's
not
like
it's
gonna
happen.
Yeah
I
am
and
to
Shaun's
point
I'm
sure
that
there
will
be
exchanges
that
are
interested,
and
you
know
like
standing
up
in
UI
in
front
of
his
auction
contracts
so
that
you
know
their
users
can
kind
of
like
I.
That's
added
benefit
of
bidding
on
potential
cheap
collateral,
but
I
think
that
folks,
who
are
really
serious
about
you,
know,
running
Keepers.
C
You
know
I'm,
probably
like
an
automated
framework
in
place
today
with
just
single
collateral,
though,
and
you
know
I'm
sure
that
there's
like
there's
gonna
be
opportunities,
for
you
know
even
like,
like
a
retail
trader
like
myself,
not
technical
at
all,
to
be
able
to
kind
of
like
just
see
an
underwater
CDP
and
bid
on
it
like
I.
Would
imagine
that
you
know,
as
we
scale
that
this
this
function
becomes
more
and
more
professionalized
by
you
know,
market
makers
and
all
the
chars,
and
you
know
just
market
professionals.
A
Definitely
thanks
so
much
for
that
background.
Chris.
Just
one
more
question
that
I
think
I
may
have
skipped
over
I
see
that
another
Chris
Chris
Charlie
asked
on
an
update
of
the
hardware
Wallace
for
and
what's
playing
for,
Oasis
direct,
so
yeah
that
plan
to
be
released
at
the
end
of
May
Hardware
wallet,
support
in
terms
of
ledger
and
treasure.
C
C
A
Definitely
well
I'm
I'll.
Thank
you
for
those
compliments
towards
the
engineers
on
their
behalf
and
another
question
from
AAA
is
a
CDP
put
up
for
auction
as
soon
as
it
hits
the
150
percent,
so
it's
say
a
little
bit
less
expedient
than
that
I
believe
it.
We
actually
need
to
see
a
byte
triggered
by
another
user,
which
may
or
may
not
happen
immediately
when
I
see
EP
hits
one
hundred
and
fifty
percent
Sean.
Would
you
like
to
weigh
in
on
that
or.
B
Yeah,
so
one
hundred
fifty
percent
is
the
liquidation
ratio.
That's
a
risk
parameter
that
can
change
depending
on
the
collateral
type,
but
yeah
it
it
should
be
bitten.
Is
this
is
the
term
for
it?
It'll
be
liquidated
or
put
up
for
auction
right
when
it
crossed
that
threshold
it
should
be
because
it's
a
sort
of
a
decentralized
way
of
triggering
it.
Uh-Huh.
A
A
A
I
suppose
that
there's
not
necessarily
a
formal
roadmap
that
has
been
released
at
this
time,
detailing
how
it
is
that
we're
venturing
our
way
to
the
multilateral
CDP's,
but
we'll
continue
to
post
these
sort
of
more
front
work
facing
updates
as
we
go
along
and
feel
free
to
check
in
when
you
do
in
fact
want
more
information.
Oh.
A
A
A
A
B
On
the
brightness
or
we
actually
need
to
access,
carry
an
access
carry
if
you
had
met
at
Matt's,
running
cool,
so
sponge
different
projects
that
they
initially
launched
with
all
the
major
projects
in
the
space
see
maker
down
here
has
three
articles,
you
all
them.
There's
a
there's,
a
fake
you
on
interest
on
liquidation
and
how
just
die
die
works.
B
There's
obviously
a
lot
more
to
talk
about
at
Brown
maker.
So
if
you
see
something
that
you
would
wanna
have
a
topic
about,
if
you
scroll
up
Jessica
there's
the
top
here
create
requests
button
or
write
article
button.
If
you're,
if
you
feel
knowledgeable
about
a
specific
topic,
you
can
actually
write
an
article
and
we'll
announce
something
later,
but
basically
these
are.
We
can
put
a
bounty
out
for
a
certain
article,
and
so
this
is
on
the
rinkeby
test
net,
but
once
it
gets
converted
to
so,
there's
actually
an
alert
here.
B
So
this
has
this
is
on
rank
V,
but
this
is
basically
a
way
to
be
rewarded
for
knowledgeable
content
around
any
around
any
project
so
which
we
think
is
really
cool.
For
example,
someone
is
asking
me
around
about
the
hardware
wallets
integration.
That
would
be
a
very
good
topic
for
something
like
this
and
yeah
divide
everyone
to
check
it
out.
We're
really
excited
to
be
on
this,
and
we
think
it
will
help
everyone
out.
A
A
We
have
a
question
from
Michael
S
Maloney,
saying
that
in
some
old
videos,
I've
seen
Oh
said
that
dyes
value
was
linked
to
the
IMF
Special
Drawing
right,
but
information
says,
is
stable
to
the
USD.
Is
there
a
difference
so
yeah
there?
There
is
a
difference.
There
different
currencies,
the
SDR
and
the
USD.
Originally,
though,
you're
correct
and
I
think
of
Mormon
ruins
initial
thoughts,
he
was
planning
to
stabilize
dye
towards
the
SDR,
but
after
a
large
amount
of
research,
we
decided
that
the
better
use
case
at
this
time
would
be
stabilizing
it
towards
USD.
A
A
Scr
the
possibilities
are
endless.
There
there's,
actually
a
number
of
sort
of
reddit
threads
go
through
a
detailed
ax
and
if
you
want
like
lost
mony
I
can
send
you
some
of
those
reddit
threads
and
you
can
take
a
read
to
suit
our
Lord
and
save
your
room
has
to
say
about
all
that,
and
because
it's
quite
interesting
and
quite
a
lot
of
opportunity
around
there.
A
A
B
C
Might
say
I
say:
I
do
know
that
that
a
lot
of
the
researchers
in
demo
are
currently
working
through
a
way
to
formally
create
all
the
multilateral
by
smart
contracts.
This
is
still
work
in
progress
in
plug
its.
We
expect
to
launch
make
a
guy
sometime
this
summer,
but
yeah.
This
research
is
is
ongoing
and
it's
pretty
exciting.
A
All
right
yeah
that
all
sounds
good
to
me.
Thank
you
so
much
for
that
commentary.
Chris
and
always
is
there
anything
else
anyone
wants
to
shout
out
and
by
the
way,
the
purpose
of
sort
of
using
the
teamspeak
in
conjunction
with
this
Google
Hangouts,
it's
all
sort
of
experimentation,
but
with
so,
if
we
wanted
multiple
voices
to
be
heard,
they
could
be
so
if
ever
you
feel
like
doing
that,
go
for
it
and
thank
you
again.
A
So
it
looks
like
we're
good
to
go.
I'm
gonna
go
ahead
and
turn
the
meeting.
Please
feel
free
to
just
reach
out
express
any
grievances.
You
have
about
this
format.
Well
use
rather
sneaky
try,
and
we
can
totally
do
that.
But
you
guys
are
all
wonderful
and
thanks
a
ton
again
to
our
amazing
attorney,
Chris
Hayes
and
Shawn.