►
From YouTube: MakerDAO Community Meeting - August 21, 2018
Description
Special Guests
- Shannon Wu: Head of Content to talk about her role.
- InstaDapp Team: Introducing the winning MakerDAO hack team to demo their product! Sowmay, Samyak and Satish put together a dapp that enables a "MVP" CDP experience.
Check out these what these finalists hacked together: http://ethindia.conteract.io
---
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
Today
is
August
21st
and
we
are
released
and
have
a
total
of
about
eight
of
you
on
the
call
today
today,
we're
gonna
be
talking
to
you,
both
Shannon
Wu,
and
to
the
team
insta-death
from
eath
India,
who
actually
were
the
winners
of
the
liquor
Dale
bounty.
So
we're
quite
excited
about
that
in
terms
of
recent
partnerships,
I'm
sure
many
of
you
have
heard
about
the
partnership
between
maker
Dow
and
wire.
A
This
is
quite
a
landmark
partnership,
as
it
allows
us
to
move
from
dye
to
Thea
quite
easily
and
in
terms
of
recent
events,
we
were
at
disk
on
a
conference
in
Boulder
at
the
beginning
of
August,
where
I
was
pleased
to
have
the
opportunity
to
actually
give
it
talk
myself
about
maker
Ethan
as
well.
It
gave
us
a
demo
in
to
dye
Jas
and
then
in
East
India.
We
had
the
actual
alpha
launch
of
died,
Jas,
which
was
presented
by
Sean
Brennan
and,
like
I
mentioned
earlier.
A
We
have
our
winners
from
the
East
India
bounty
makers,
bounty
and
finalists
in
the
overall
hackathon
I'm
here,
to
give
us
a
demo
of
the
amazing
project
that
impressed
the
hundreds
of
people
at
eighth
and
via
and
one
out
of
the
number
of
truly
impressive
submissions
I'm.
Also,
just
recently
we
took
place,
we
took
part
and
a
the
unblock
hackathon,
which
we
co-hosted
with
wire
sort
of
in
honor
of
our
partnership.
A
That
happened
earlier
last
week,
and
that
was
also
an
incredibly
exciting
an
event
with
some
incredibly
exciting
hacks,
which
we
hope
to
bring
on
in
the
coming
weeks.
To
give
you
a
demo
there
in
terms
of
upcoming
events,
eath
Berlin
is
coming
up
soon.
If
anyone
is
going
to
be
there,
please
come
by
and
compete
in
bounty
prize
and
make
something
cool
and
yeah
rich.
We
like
to
go
ahead
and
take
it
away.
Yeah.
B
B
That
is
specifically
targeted
at
getting
dye
introduced
into
emerging
markets,
which
I
think
is
a
pretty
compelling
argument
to
make
want
to
say
once
again
thanks
to
our
community
for
their
impassioned
response
to
the
first
foundation
proposal.
I
think
that
was
an
enormous
ly,
healthy
reaction
and
it
shows
exactly
how
how
committed
and
how
passionate
our
members
are
and
not
to
not
so
minimize
I
could
have
smart
they
are
to
which
is,
which
is
constantly
surprising.
A
welcome
surprise.
B
There's
a
lot
of
deep
insights
to
our
first
foundation
proposal
and
I
think
that
we
all
benefited
from
those.
So
take
a
look
at
the
new
foundation
proposal,
we'll
be
having
a
vote
to
ratify
that
officially
on
September
the
12th
in
advance
of
that
we're
going
to
be
having
a
meeting
next
Wednesday
August,
the
29th
I
believe
to
discuss
it
specifically
with
room.
So
we'll
have
an
agenda
put
up
in
the
subreddit
soon
to
let
you
guys
know
when
that
time
and
dates
are
specifically
about
their
general
interest.
B
Member
of
the
requests
Network
community
recently
hacked
together
a
tip
bot
and
generally
I
despise
tip
pots,
but
this
one
is
actually
quite
cool.
It's
it
uses
the
request:
invoicing
back-end,
which
is
a
select
piece
of
software
in
itself.
It
also
supports
dyeing
natively
and
we've
been
playing
around
with
that
and
the
sub
it's
worth.
B
Checking
out,
there's
been
some
interesting
mods
recently
that
he
just
posted
information
about
in
our
subreddit,
and
one
of
those
is
the
ability
to
have
your
tips
get
donated
to
charity
immediately,
which
I
think
is
a
great
option
as
long
as
I'm
I
think
Gibby's
is
the
first
beneficiary
right
now
and
the
other
big
news.
Maya
khyber
has
integrated
Oh.
B
Pepper
has
integrated
the
Oasis
deck
back
decks
back-end
into
their
token,
swap
application,
which
is
great
for
everybody
involved
well,
should
see
some
significantly
increase
liquidity.
Some
smaller
spreads,
hopefully
and
just
goes
to
show
exactly
how
versatile
the
building
blocks
that
died
and
the
Oasis
team
are
putting
together
from
a
current
and
the
races
team
were
putting
together.
B
We
also
had
a
very
successful
AMA
on
East
trader
last
week,
which
I
wish
super
happy
about
I
think
it
was
I'm,
obviously
biased,
but
I
think
potentially
one
of
the
best
AMAs
I've,
seen
in
the
crypto
space.
So
far,
the
amount
of
transparency
and
the
amount
of
questions
answered,
asked
and
answered
was
phenomenal.
C
B
A
A
Awesome,
hey
Shannon,
so
Shannon
has
a
really
cool
background
and
it's
been
doing
a
lot
of
smart,
incredible
things
for
us
here
at
maker
and
her
role
and
content
Shannon.
Do
you
want
to
tell
us
a
little
bit
about
what
you've
been
up
to
and
sort
of
what
led
you
into
your
path
here
and
make
it
out
yeah.
C
Absolutely
happy
to
give
some
context
so
I
joined
and
really
started
working
on
maker
last
year
through
the
launch
of
died
and
I.
Think
what
really
drew
me
to
the
organization
was
the
amazing
progress
and
thinking
behind
the
team
as
far
as
like
innovation
in
the
space
and
so
I
think
this
has
just
been
a
really
really
incredible
year.
A
C
Yeah
I
moved
out
to
California,
went
to
Stanford
and
then
after
I
graduated
I
ended
up
going
to
work
at
a
venture
fund
for
a
while,
which
is
very
cool
experience
getting
to
work
with
very
early-stage
companies.
It's
kind
of
where
I
ended
up
falling
in
love
with
the
early,
the
process
of
company
building,
and
especially
organizations
that
have
a
very,
very
big
vision
and
being
at
the
very
early
days
of
it
and
so
very
quickly.
C
It
became
apparent
that
this
was
something
that
I
really
really
wanted
to
do
and
cared
a
lot
about
that
was
a
few
years
ago
and
then
I
ended
up
actually
leaving
to
start
an
agency
and
founded
that
called
mr.
progress,
which
is
a
marketing
firm.
That
works
with
companies
with
in
growth
stages
and
the
company
ended
up
becoming
very
successful
and
I
was
about
three
years
ago.
So
we
ended
up
working
primarily
with
like
Series
B
and
C
companies
and
tech
world
and
then
I.
C
For
me,
myself,
like
crypto
and
blockchain,
was
definitely
a
personal
interest
for
many
years
and
when,
at
some
point
you
know
that
became
something
that
was
just
very,
very
fascinating
to
myself
and
so
at
some
point
last
year,
I
ended
up
advising
and
starting
to
work
with
projects
that
I
really
believed
in
and
more
specifically,
like
teams
of
people
that
I
really
really
believed
in
and
I
took
a
look
at
the
speed.
You
know
who
and
what
is
gonna,
be
really
pushing
the
space
forward.
C
I
mean
there's
so
much
innovation
and
possibility,
and
that's
I,
think
that's
really
promising,
especially
since
blotching
has
the
possibility
of
touching
and
optimizing
and
making
systems
around
the
world
more
efficient
and
whatever
industry
it
is.
That
was
to
me,
was
very,
very
cool
and
so
I'm
on
the
founding
team
of
Blum
as
well
and
I,
had
also
advised
other
projects
like
Spang
chain
through
their
launch
and
to
me
it
was
always
just
very
fascinating.
C
Understanding
like
as
products
are
going
to
market
how
that's
going,
how
product
adoption
is
actually
going
to
happen,
and
so
that's
something
I'm,
very,
very
passionate
about
and
so
I
had
always
been
a
big
fan
of
Aker
and
the
team
reached
out
when
they
have
no
marketers
on
the
team
when
they
were
doing
the
launch
of
died
and
asked
for
advice.
So
I
ended
up
advising
through
that
particular
process,
but
I
will
say
that,
like
I
think
over
the
next
few
years,
it's
gonna
be
really
really
interesting
to
see
which
products
actually
end
up.
C
A
C
I
mean,
I
think,
the
integrations
and
how
companies
and
you
know
in
all
different
kinds
of
industries
are
going
to
incorporate.
I
is
particularly
fascinating
as
like
I
sit
in
my
position
today.
Being
at
the
hub
of
you
know
a
lot
of
different
various
ecosystems
of
people
who
are
like
very
interested
in
integrating
with
technology
I
think
it's
very
rewarding
to
be
able
to
see
larger
organizations
that
traditionally
are
very
slow-moving,
have
a
deep,
deep
interest
in
how
block
cane
can
make
their
processes
more
efficient
and
how
they
can
benefit
from
that.
C
A
C
How
do
we
want
to
talk
about?
You
know
the
products
that
we're
releasing.
How
do
we
want
to
talk
about
the
roadmap
and
really
be
able
to
touch
many
many
different
stakeholders
from
wherever
they're
at,
and
so
that's
been
something
that
when
I
first
started
advising
and
working
with
the
team
on
this?
This
was
something
that
was
very,
very
passionate
about,
because
I've
seen
it
I've
seen
it
like
work.
C
C
So
that's
where
I
aim
in
endeavor
that
I
hope,
like
all
companies
really
end
up
moving
towards,
is
being
able
to
produce
like
really
concise,
clear
content
about
the
work
that
they're
doing
and
be
able
to
provide
a
platform
for
any
of
their
end
users
to
be
able
to
actually
like
onboard
themselves
and
learn
about
it.
And
it's
not
a
black
hole
and
I.
C
You
know
that
there's
more
and
more
ways
to
really
learn
about
different
projects
and
things
that
I've
been
very
very
closely
involved
with
and
did
all
the
writing
for
the
earliest
pieces
die
and
really
spend
a
lot
of
time.
Thinking
about
what
this
means
and
what
the
impact
of
it
is
and
how
it's
gonna
affect
people.
So
that's
been
one
thing
that
I've
been
very,
very
focused
on.
Definitely.
A
Yeah,
thank
you.
So
much
Shannon
and
I
look
forward
to
more
of
your
content
and
certainly
helps
me
and
I.
Think
a
number
of
people
have
the
sort
of
coherent
idea
of
all
the
exciting
things
that
were
doing
and
what
we're
working
towards
when
the
amazing
their
reader
like
you
to
help
us
some
of
that
guidance.
Thanks.
C
So
much
yeah,
I
think
I
think
this
is
just
like
a
really
exciting
time
and
like
as
I've
now
I've
spent
quite
a
bit
of
time,
just
looking
at
different
projects
that
are
out
there
and
advising
different
teams
and
I.
Think
one
of
the
things
that
everybody's
really
excited
to
see
is
like
the
maturity
coming
towards
this
base
of
being
able
to
actually
take
products
and
integrate
them
in
many
different
ways,
and
so
I
myself
am
very,
very
excited
about
it
and
I
know
everybody
in
the
maker
team
is
as
well.
C
I
mean
I
think
multi
collateral
die,
I
mean
it's.
This
has
been
like
the
end
goal
for
so
long,
I
think,
there's
so
much
possibility
and
what's
also
very,
very
interesting
to
me
from
someone
who's,
just
like
passionate
back
Atomics
and
passionate
about
how
systems
move
is
seeing
like,
especially
with
the
recent
eath
crash,
like
what
that
does
to
various
systems
and
I.
C
C
So
that
to
me
is
like
one
of
the
things
I
think
that
makes
it
very
very
like
this
whole
space,
very
different
from
like
say,
like
another
area
and
tech,
is
because
there's
like
all
these
nuances
that
have
really
big
impact.
That
kind
of
need
to
be
thought
through
beforehand,
which
is
which
is
cool.
The
pressure
is
definitely
higher.
C
Been
in
talks
with
maker,
which
I
think
is
great
and
there's
a
lot
of
synergies
as
far
as
two
very
strong
projects
and
very
strong
teams
working
towards
you
know,
building
a
better
solution
for
lending,
so
I
think
there's,
there's
definite
lot
of
synergies
and
if,
when
something
comes
out,
you
know,
there's
there's
definitely
a
possibility.
I
think
with
bloom
they're
putting
out
this
lender
marketplace.
So
that
would
be
a
very
natural
integration.
But
you
know
I'll
leave
it
to
the
official
communications
to
put
out
with
that.
C
Yeah
and
everybody
feel
free
to
reach
out
to
me
at
any
point
either
you
know
on
telegram
or
Rocket
chat
and
maker
and
I'm
always
happy
to
chat
about
this
stuff.
It's,
like
you,
know,
content
and
putting
things
out.
I'm
thinking
about
simplifying
explanations
of
really
complex
topics
is
always
something
I'm
very
curious
about,
so
feel
free
to
reach
out.
At
any
point,.
A
A
Even
one
of
the
organizer
of
eath
global
karthik,
tweeted
himself
that
he
was
most
impressed
with
what
it
is
that
you're
all
about
to
be
privileged
to
see
so
an
honor
both
for
maker
and
for
the
syrian
community
that
had
the
opportunity
to
be
present
at
this
event
of
about
like
400
to
500
hackers,
and
so
yes,
my
or
some
young,
whichever
one
you
all
like
to
take
it
away.
Let
me
ask
you,
show
us
your
prize-winning
hat.
Oh.
A
D
So
recently
we
had
participated
in
eating
there,
hackathon
some
mock
me
and
Satish.
We
were
the
team
there,
so
what
we
did
with
the
Rebelde
resolver
contract
on
top
of
maker
now
and
as
a
simple
dap
to
issue
loan
using
maker
of
protocol.
So
currently
we
are
using
the
maker
now
dashboard.
We
have
to
make
many
transactions
so
open
the
CD
piece
and
give
all
the
token
elements
then
convert
etherium
into
grabbed
ether.
Then
convert
the
wrapped
into
PAC,
pulled
ether,
then
lock
the
polyter
and
rather
die,
so
it
it
aggregates
to
12
transactions.
D
So
foreign
non-technical
users
taking
loan
making
by
making
12
simultaneous
transactions,
is
not
that
user-friendly.
So
the
Builder
resolver
smart
contract,
which
which
manages
all
the
12
transaction
internally
and
users
the
end
users
only
have
to
make
only
one
transaction
which
is
of
sending
ether
to
our
contract.
So
I
will
demonstrate
a
simple
example
of
making
just
single
transaction
and
I
will
then
get
issued
to
my
loan
on
my
long
teeth.
Idiom.
D
D
D
Okay,
so
the
transaction
is
getting
confirmed,
so
let
us
understand
how
it
is
internally,
working
in
smart
contact
level.
So
this
is
the
borrower
who
is
making
a
transaction
sending
an
ethereal
to
over
maker
CDP
dye
resolver
contract,
alright,
so
after
sending
the
etherium
over
contrary
opens
the
CDP
token,
approval
has
already
been
provided
to
the
contract,
all
the
seven
tokens
that
we
can
see
in
time,
maker,
maker,
Dao
dashboard
and
then
the
e
theorem
is
converted
into
rapt
ether.
Rapt
ether
is
converted
and
pooled
ether.
D
Then
a
theorem
is
logged
in
dyes
drawn
just
in
single
transactions.
All
the
transaction
is
happening
in
the
single
transaction,
then,
after
doing
that,
we
issued
the
dye
to
the
borrower
so
died,
so
the
bureau
borrower
is
only
making
single
transaction
and
he
is
getting
the
dye
in
just
single
transaction
which
takes
which
conventionally
take
12
transaction
to
do.
Let's
check
the
transaction
status
on
either
scan.
D
So
you
can
see
that
the
borrower
transferred
0.2,
ëthere
IAM
to
over
smart
contract
and
that
ëthere
IAM
is
converted
into
grabbed
ether,
then
pool
ether,
then
18.4
dye
has
been
issued
to
my
address
so
internally.
What
we
are
doing,
we
are
simplifying
the
maked
or
protocol,
which
is
not
that
user-friendly
and
even
if
user
don't
know
what
is
vlad
ether?
What
is
pool
ether?
What
is
CDP?
He
came
here.
D
He
just
know
that
he's
sending
he
theorem
for
through
and
when
he
theorem
and
he
is
getting
40
dye
as
a
blown
that
33
66
percent
of
whatever
the
collector
amount
collateral
price
of
the
etherium
s.
So
it's
it's
just
simplifying
the
mikado
protocol
and
making
a
user
friendly
to
all
the
audience.
All
the
users
who
are
interacting
with
the
death.
B
D
It's
it's
it's
more
cheaper
because
every
time
a
basic
transactions
start
with
21,000
gas
units.
So
in
this
only
one
time,
only
one
time
once
to
that
21,000
cash
units
is
used.
So
if
you
are
using
12
times
that
minimum
transaction
cost
will
be
21,000,
which
is
the
basic
cost
on
a
theory
interruption
for
any
transaction.
So
it's
more
cheaper
in
terms
of
gas
price.
D
Cdp
is
directly
interacting
with
maker
down
protocol,
or
we
can
see
all
the
functions
of
opening/closing
and
so
they're
still
technical.
It
is
on
that
DAP
and
on
our
depth
user.
Even
don't
know
about
what
is
making
out
what
how
they'll
learn,
how
they
are
getting
the
loan.
What
is
pool
ether?
What
is
grabbed,
how
can
I.
D
E
D
Everything
is
a
underlying
everything
is
working
on
making
our
protocol
so
using
that
protocol,
but
making
it
simplify,
simplify
it
for
users
and
also
for
other
dab
builders.
If
anyone
want
to
build
their
own
low
taking
issuance
or
if
any
other
contract
want
to
integrate
with
this
contract,
so
they
just
have
to
call
one
function
instead
of
seven
function
simultaneously.
D
B
B
D
No,
they
will
not.
They
can't
see
the
CDP
and
I
dashboard
them,
because
the
ownership
will
recite
with
our
smart
contract.
Alright,
so
they
can
see,
but
there
will
be
a
feature
that
they,
if
they
want
the
ownership
back,
they
will
call
a
function
on
our
smart
contract
and
the
ownership
will
be
transferred
to
the
address.
So.
D
If
you
create
a
the
CDP
on
maked
or
dashboard,
and
you
want
our
resolve
our
smart
contract
to
manage
your
CD-
be
that
clubbed
all
the
transaction
in
one,
you
can
give
your
ownership
to
this
smart
contract.
But
if
you
want
to
take
the
ownership
back,
you
can
also
call
one
function
and
get
your
ownership
back.
This.
B
Of
the
things
that
strikes
me
the
most
about
this
I'm,
not
a
slick
developers,
I,
don't
understand
all
the
complexities.
Maybe
Sean
can
jump
in
later
to
talk
about
why
he
thinks
that's
impressive,
but
one
of
the
things
I
really
love
about
this
is
I
was
shocked
at
how
simple
and
easy
to
understand
the
you
I
was
and.
E
B
E
Yeah,
so
for
this
year
for
this
UI
we
one
night
before
we
just
took
to
us
and
discuss
about
how
we
are
going
to
make
the
interface
in
the
hackathon
and
then
in
the
hackathon.
We
build
this
interface
in
eighteen
hours.
I
guess
I
mean
I
am
doing
the
work
of
UI
n
UX,
and
my
brother
saw
me
he
was
developing
the
smart
contract,
so
it
took
me
18
hours
or
something
to
make.
The
interface
with
with
the
integration
of
the
smart
contract
is.
D
B
D
Yeah
so
currently
in
our
hackathon
we
build
a
central
CDP.
We
open
the
CDP
once
and
all
the
users
are
depositing
the
etherium
in
that
single
CDP,
but
in
future
we
will
create
a
separate
CDP
for
each
user.
So
just
for
sake
of
complexity,
we
build
single
CDP,
but
it
is
also
possible
to
build
separate
CDP
for
separate
users.
So
what
was
our
main
goal
in
the
hackathon
was
to
create
a
central
CDP,
where
we
will
keep
all
the
assets
of
all
the
log
d
theorem
and
all
the
where
draw,
and
I
borrowing
money.
D
So
if
a
user
took
20%
loan
on
the
log,
D
theorem
and
other
user
came
to
us,
so
we
can
leverage
the
20%
users
loan
to
that
other
person.
He
can
take
80%
of
the
loan.
So
at
an
average
we
are
only
having
returned
51
50,
50
%
of
the
that
50%
leverage
on
our
CDP
CentOS
a
DP,
but
the
user
who
is
taking
more
loan
over
66%
will
reward
the
user
who
will
take
less
loan
on
its
log
aetherium.
E
D
B
D
D
D
D
E
B
B
D
Yeah,
that's
a
good
idea
so,
instead
of
instead
of
creating
individual
CDP's
create
a
global
city,
please
so
so
so
just
for
example,
if
a
user,
if
you
are
having
the
80%
upper
upper
cap
on
the
liquidation
of
that
personal
CDP's,
so
if
a
user
exit
80%,
he
CDP
his
individual
CDP's
on
our
instant
app
will
be
liquidated,
but
not
our
global
city
will
get
liquidated
because
it
is
a
distributed.
The
risk
is
distributed
to
many
CDP
holders,
so
that
can
be
achieved
by
a
global
CDP.
F
F
We're
talking
in
the
chat,
some
basically
I
think
you
guys
explain,
but
basically,
by
pooling
all
the
ether
into
one
CDP,
if
you
there'd
be
basically
a
variable
rate
of
the
maker
like
yearly
fee,
the
stability
fee.
So
if
you
basically
lock
a
lot
of
collateral
and
draw
no
die,
you
could
I'm
a
very
low
interest
rate,
even
potentially
negative,
so
you
can
basically
get
paid
for
giving
stability
to
other
CDP's.
F
F
B
F
F
F
E
D
What
what
most
of
the
users
do
right
now
they
invest
aetherium
take
the
collateral
line.
Again
it
invested
collateral
line
to
eat
areum,
so
they're,
basically
merging
using
making
out
loans,
so
this
process
can
also
be
automated
using
Kaiba
networks.
Currently,
Kaiba
network
is
a
in
Rob's
turn
and
maker
divans
Cohen,
so
we
had
not
integrated
directly
on
smart
contract.
So
user
can
also
use
Kaiba
network
to
swept
tokens
just
by
choosing
anything
in
just
one
transactions,
so
it
also
a
value
addition
to
convert
dye
into
other
token
and
another
token
to
dye
any
token.
D
B
B
D
F
F
B
D
E
D
D
B
D
E
D
B
E
D
Currently
get
adjusted
team
of
three
people:
I
am
managing
the
smart
contract,
he
is
mini
of
taps
and
and
a
third
person
is
managing
the
product.
You
are
another
thing,
so
we
need
more
team
members
who
can
audit
the
smart
contract
before
releasing
me
on
main
Network,
because
madcon,
even
a
single
bargain,
smart
contract
can
leads
to
a
many
risk.
So
so
it
will
take
time
to
launch
and
main
network,
but
don't
cove
in
network.
In
couple
of
months
we
will
launcher
that.
B
I,
like
that
idea,
there's
a
lot
of
possibilities,
there's
something
that
Justin
I've
been
talking
about
for
a
while.
Is
that
we
we
have
these
hackathons
and
people
build
something,
and
then
that's
sort
of
the
end
of
the
story,
and
we
don't
want
that
story
to
end.
So
the
idea
is
that
at
the
concurrent
hackathons
people
will
be
able
to
pick
up
projects
from
previous
hackathons
and
sort
of
push
that
ball
forward
a
bit.
So
it'd
be
an
interesting
idea.
We
should
talk
about
that.
B
G
So
it's
it's.
It's
really
good
a
few
and
why
clear
and
I
hope
we
get
to
organize
something
very
soon
nearby
in
the
in
the
next
coming
months.
So
this
is
just
a
little
status
update,
but
yet
there
are
super
friendly
people
in
my
solana.
Skeptical
also
in
the
eastern
part
of
the
Republic
Vienna
is
also
very
closed.