►
Description
Special Guests
We will be joined by Prabhaav Bhardwaj, who is working with the Risk Domain Team to build out a Risk Monitoring Toolset. We will dive into the story behind building these tools, what they seek to capture, and how they might be improved with the help of community feedback.
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 25
https://forum.makerdao.com/t/maker-relay-ep-25
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
Hey
everybody
welcome
to
december
15th
maker
dial
community
call.
My
name
is
david
utrobin.
I
actually
work
at
the
maker
foundation
and
have
been
a
long
time
community
member
here
at
maker
dao,
and
I
get
the
pleasure
of
hosting
these
calls
every
tuesday
and
and
yeah
there's
a
lot
of
people
that
are
regulars
on
this
call
that
know
what
it's
about
for
the,
but
for
those
of
you
that
might
be
stumbling
across
this
for
the
first
time.
Basically,
we
use
this
call
to
do
a
couple
of
different
things.
A
A
A
Invite
in
just
a
second
here
and
yeah,
and
just
as
a
reminder,
the
call
is
super
laid
back,
feel
free
to
jump
in
the
chat
with
any
questions.
Anything
you
want
to
hear
talk
about.
Yeah,
don't
be
shy,
I'm
happy
to
relay
it
on
your
behalf
and
so
yeah
with
that
being
said,
hey
prabhupada!
Welcome
to
the
call
I
guess,
like
the
best
first
first
question
for
you
that
we
could
use
to
kind
of
break.
I
started
is
tell
us
a
little
bit
about
yourself.
B
B
B
A
Nice
yeah
yeah,
there's
there's
seasons
of
that
late
night,
reflections
yeah,
that's
awesome!
Man,
that's
awesome
cool,
so
so
I
know
simple
id
on
in
and
of
itself
is
like
its
own
platform.
It
has
its
own
services,
it
has
its
own
whole
story
and
plan.
Do
you
want
to
talk
a
little
bit
about
that
before
you
talk
about
specifically
how
your
team
has
applied
it
to
dye.
B
B
What
you
can
do
here
today
is
you
can
basically
import
a
smart
contract
that
you're
interested
in,
so
we
have
some
of
the
popular
smart
contracts
here.
So,
for
example,
always
is
a
maker
guide,
etc,
and
once
you
do
that,
what
you
can
do
is
you
can
create
segments
of
users,
so
this
could
be
as
simple
as
a
wallet
balance.
So
you
can
say
give
me
all
my
users
that
have
more
than
x
amount
of
assets
or
less
than
and
then
a
specified
web
book
url
where
we
can
send
you
a
message.
B
What
we've
done
for
the
dollar
risk
team
is
they
wanted
to
at
any
time
understand
how
dye
is
being
used.
This
could
be
in
different.
You
know
automated
market
makers.
This
could
be
in
yield
forms
and
also
a
little
bit
of
competitive
analysis
of
how
other
stable
coins
are
being
used
in
these
different
platforms,
and
this
requires
a
bit
of
more
of
a
custom
work.
So
the
metrics
we
were
asked
to
monitor
are
the
following.
B
So
we
they
wanted
to
find
out
who
are
the
top
500
wallets
that
hold
die
and
of
those
wallets?
What
other
stable
coins
they
hold?
They
up,
uscc,
uct,
etc.
The
other
aspect
was
secondary
platform.
So
again,
with
these
top
500
die
wallets.
What
type
of
other
platforms
the
other
secondary
diets
do
they
use
like
aveda,
c,
divided
and,
of
course,
the
inflows
and
outflows
of
all
these
stable
coins
and
these
secondary
platforms
in
amms.
B
So
how
is
dye
being
used
in
different
amms,
whether
that's
the
eating
swap
or
balance
or
curve,
and
since
yield
farming
is
so
popular
these
days?
How
are
how
is
dye
being
utilized
in
these
yield?
Forms
again,
quick
reminder,
if
you
guys
have
any
questions
or
feedback
during
this
call.
Please
go
ahead
and
let
me
know
so.
B
If
not,
let
me
just
continue
so
what
we've
done
is
we're
presenting
this
information
in
a
way
that's
useful
for
the
community
itself,
so
the
first
metric
that
we're
monitoring
is
a
stable
coin
breakdown.
So
this
is
a
chart
of
the
stable
coins,
that's
die
and
the
top
500
walls
that
have
that
and
which
stable
coins
they
also
have.
So
this
will
give
you
a
breakdown
of
the
true
usd
binance,
usd
uscc,
etc.
B
Again,
there's
a
different
way
of
looking
at
that
with
pie,
charts
which
addresses
hold
the
most
amount
of
dye,
so
in
the
in
the
top
500
wallets
curve
and
sushi
swapping,
as
well
of
course,
come
in
the
top
top
aspect
of
that
then
there's
of
course
secondary
platform.
So
this
is
of
my
die
holders,
how
many
of
them
hold
c
die
or
ada
or
y
die,
and
again
another
different
way
of
looking
at
that
versus
just
tables
as
a
chart
of
what
are
the
top
wallets
that
hold
these
die
tokens.
B
B
B
A
So
I
I
have
a
quick
question
to
jump
in
here
with
so
for
just
for
the
kind
of
general
understanding.
Why
is
it
important
for
somebody
like
a
risk
team
to
to
monitor
and
actively
watch
inflows
and
outflows
of
die
from
like
these
different
smart
contracts
and
yield
farms
like
what's
the
primary?
I
guess
insights
that
you
can
get
from
this
and
yeah
love
to
hear
your
answer.
B
B
If
these
gel
farms
are
utilizing
secondary
platforms
over
dye,
it
could
also
be
for
setting
interest
rates
for
die.
There's
there
could
be
a
whole
slew
of
reasons
that
the
risk
monitoring
teams
can
see
this,
and
it's
also
good
to
add
visibility
for
the
community
to
understand
how
dye
is
being
utilized
in
these
different
platforms.
A
B
Absolutely
yeah
we
at
the
end
of
this
presentation.
I
will
show
you
where
you
can
access
this
tool.
One
thing
to
note
is
this
is
still
a
work
in
progress,
so
we
will
be
adding
more
information
to
these
this
tool
set
and
also
based
on
the
feedback
on
this
call,
if
there's
any
other
interesting
ways
to
look
at
dye
utilization
or
breaking
down
the
utilization
in
different
types
of
graphs,
please
go
ahead
and
post
that
here
because
we
will
add,
add
those
features,
as
it
makes
sense,
sweet
okay.
B
Some
future
work
that
we
are
planning
to
do
is
breaking
down
more
in
a
granular
level,
the
training
volume
in
amms
for
dye
and
also
doing
more
competitive
analysis
on
these
different
lending
platforms.
So
that's
compound
on
a
cream,
so
understanding
more
about
the
lending
and
borrowing
volume,
coin,
debts,
loan,
originations
di
loans,
repaid,
etc.
B
A
B
Sure,
oh
one,
one
thing
to
note
also
here
is
this:
data
is
updated
once
a
day,
so
you
might
see
a
little
bit
of
discrepancy
here
and
there,
but
most
of
this
information
will
be
up
to
date
every
day.
So
one
thing
to
note
is:
if
you
are
interested
in
any
of
these
addresses,
we
link
out
to
etherscan,
so
you
can
of
course
go
there.
Look
at
that
information
at
etherscan.
Also
so
you'll
see
about
81
million
die
here.
B
B
So
you
can
keep
scrolling
to
see
other
wallets
that
hold
these
stable
coins
here,
if
you
scroll
over
on
the
charts
for
the
pie,
charts
you'll
see
the
breakdown
of
which
wallets
have
these
the
breakdown
of
die
here
same
thing.
With
these
charts
here
just
scroll
over,
you
can
see
the
information
and
again
you
can
sort
this
by
aveda
c
dai
and
y
die,
as
as
you
are
interested
and,
of
course,
click
out
to
whichever
wallet
you
want
to
and
then
with
the
top
transfers
of
amms
and
yield
farms.
B
B
B
B
A
There
are
so
a
couple
of
things
in
the
chat
from
akiva.
Oh
sorry,
one
thing
from
akiva
one
thing
from
peyton
I'll
kind
of
read
them
in
order,
so
the
first
one
is
from
peyton.
I've
been
curious
about
how
much
die
popular
exchanges
like
coinbase
and
kraken
are
holding.
Is
that
something
that
this
platform
tracks.
B
B
One
of
these
wallet
addresses
for
all
we
know,
but
this
is
a
breakdown
of
top
500
wallets
that
have
died.
So
if
it's
on
chain,
we
have
that
information.
We
just
can't
guarantee
that
these
wallet
addresses
will
have
the
name
of
that
exchange.
So,
for
example,
this
one,
if
you
go
to
etherscan
it
is
very
well
could
be
coinbase.
We
just
don't
have
that
information,
but
one
thing
we
would
like
to
do
is
maybe
make
this
a
community
driven
thing
for
wallet,
addresses
and
adding
names
for
it.
B
A
B
B
So
one
thing
that
we
are
thinking
about
doing
is
something
like
eat
stats
where
this
information
is
available
and
we
can
provide
like
a
web
hook-
interface,
for
example,
where
a
user
can
say
hey.
I
want
to
listen
to
this
chart
and
see
if
this
changes
and
if
anything
changes
we
send
a
webhook
update
to
that.
So
that's
one
way
we
can
allow,
like
other
developers
or
users
to
listen
to
changes
and
build
tools.
A
B
We're
definitely
open
to
suggestions
there,
so
it
can
be
web
hook
is
something
that
we've
already
done.
As
I
mentioned
in
our
app.simple
id,
you
can
assign
a
web
hook
to
any
of
these
segments
and
you
can
get
the
data
out
to
you,
but
if
a
csv
makes
more
sense,
we
can
of
course
export
this
information
to
a
csv.
B
A
A
B
Unfortunately,
pre-motion
has
been
pretty
busy,
but
the
one
feedback
that
he
had
was
basically
more
granular
breakdown
on.
This
would
be
very
helpful
for
them
and,
of
course,
this,
the
phase
two
that
I
mentioned
is
a
work
that
we've
got
planned,
where
we
want
to
give
you
more
breakdown
of
how
other
lending
platforms
are
using
stable
coins
and,
of
course,
how
are
they
using
dye.
B
B
A
A
Yeah,
let
me
see
yeah
the
makervaults.decipher.io
yeah
there's
also
like
die.decipher.io
and
then
and
then
there
was
another
one.
I
think
it
was
loans.decipher.io
and
I
think
on
loans.decipher.io
I
think
bashesh
was
doing
some
tracking
of
interest
rates
and
like
individual
positions
and
but
yeah
yeah,
exactly
makervaults.decipher.oh,
also
tracks
maker,
dow's,
individual
positions,
yeah
cool.
B
And
yeah,
if,
if
the
risk
team
wants
that
information
to
monitor
that
information,
we're
more
than
happy
to
add
that
yeah,
our
our
whole
goal
is
to
you
know,
build
these
like
dashboards,
that
are,
you
know,
monitoring
dashboards
that
were
at
the
most
value
of
the
community
and,
of
course,
if
we
can
provide
like
some
sort
of
web
book
interface
for
people
to
build
on
top
of
that,
that
is
even
cooler.
So
right
now
for
these
types
of
dashboards,
we're
updating
it
daily.
B
What
we
want
to
do
eventually
is
get
to
as
close
to
you
know
close
to
like
in
line
with
the
blockchain,
but
for
much
high
level,
things
like
die
usage,
it
just
doesn't
seem
it
doesn't
it's
not
necessary
to
be?
You
know
close
to
the
blockchain
like
one
to
three
blocks,
because
it's
just
too
noisy
at
that
point,
and
you
want
like
a
high
level
picture,
you
don't
necessarily
need
that
type
of
granularity,
but
maybe
with
like
interest
rates-
and
you
know,
vault
monitoring
that
makes
more
sense.
A
Yeah
and
I'm
sure
that
there's
probably
going
to
be
situations
in
the
future,
where,
like
specific,
smart
contracts,
should
be
like
very
granularly,
monitored
or,
like
I'm
sure,
there's
a
ton
of
flexibility
with
the
needs
but
yeah.
I
I
think,
like
a
few
blocks
out,
is
granular
enough
that
you
get
like
the
a
pretty
accurate
general
picture
of
these
things
so
yeah.
This
is
really
really
cool
man,
so
there
are
actually
a
number
of
of
analytics
and
like
stats
dashboards
already-
and
I.
B
A
B
Yeah,
so
let
me
just-
I
guess,
maybe
if
my
like,
maybe
if
my
answer
for
how
we
differentiate
isn't
clear
from
earlier
the
way
we're
looking
at
this
is,
we
are
focused
on
a
subset
of
contracts.
So,
if
you
look
at
like
the
landscape
of
other
tools
like
doing
analytics,
is
the
most
obvious
one
there's
also
the
graph
ether
scan
the
way
we
look
at
it
is.
We
are
targeting
only
some
set
of
smart
contracts
and
we
want
a
very
high
performance
monitoring
system.
For
that.
B
So,
for
example,
when
dye
was
off
its
peg
a
couple
of
days
ago
or
if
there's
a
exploit
being
done
on
a
mm
or
yield
farm,
if
those
yield
farms
have
signed
up
for
simple
id
monitoring,
and
once
we
are
like
one
to
three
blocks
behind
blockchain,
we
can
send
those
alerts
instead
of
somebody
constantly
having
to
monitor
that
or
having
to
refresh
the
dashboard
to
see
if
anything
has
changed.
So
that's
the
direction
we're
going
towards
a
good
parallel
for
this
would
be
like
aws
cloudwatch,
or
these
monitoring
and
alerting
systems.
A
B
So
we're
using
a
pub
sub
system
that
basically
populates
our
postgrad
sql
database
and
based
on
the
segments
that
you've
set
up
or
based
on
web
books
that
we
publicly
made
available
when
data
changes
there,
we
will
send
an
update,
saying
that
xyz
has
changed
on
this
segment
or
on
this
webhook
that
you're
listening
to.
So
that's
the
system
that
we
have
for
subscriptions.
A
A
A
A
B
B
Is
there
different
time
scales,
charts
that
you're
interested
in
and,
of
course,
if
we've
missed
any
type
of
like
information
that
present,
if
there,
if
there's
like
other
platforms
that
you
guys
are
interested
in
to
track
letting
us
know,
because,
as
I
mentioned
earlier,
it's
just-
we
want
to
make
sure
that
this
information
is
as
useful
to
the
community
and
we're
more
than
happy
to.
You
know,
change
the
time,
skills
or
whatever,
if
it
makes
more
sense.
B
A
B
A
B
A
A
B
Yeah,
probably
that
the
other
thing
that
we're
trying
to
balance
here
is,
you
know,
maintaining
some
level
of
privacy.
I
think
like
if
those
accounts
are
labeled,
especially
if
they
are
like
you
know,
amms
or
yield
farms
or
coinbase
cracking
great
but
like
I
just
don't
know
if
it
makes
sense
to
like
docs
individual
users,
especially
when
this
is
like
a
community
tool.
I
just
don't
understand
that
makes
sense
when
it's
like
publicly
available
it's
just
unless
it's
like
a
ethereum
ens.
B
Maybe
we
can
add
that,
but
it
just
I
don't
know
if
that
necessarily
adds
value
to
what
this
monitoring
tool
is
supposed
to.
Do.
It's
just
to
understand
usage
of
die,
maybe
get
alerts
for,
if
we
add
like
interest
rates
or
vault
tracking
metrics,
I
don't
know
if
it
adds
that
much
value
to
label
each
wallet
address,
but
I
open
a
feedback
there.
A
Yeah,
no,
I
totally
agree
with
you.
I
think
it's
very
important
to
preserve
as
much
privacy
as
you
can
for
individuals.
I
think
having
those
bigger
contract
addresses
bigger
holders
that
might
be
like
vcs,
like
more
public
address
people
who,
like
willingly,
put
their
names
out
on
ens,
right
yeah.
That
seems
fine
to
go
to
an
exchange
and
like
get
records
of
people
like
that,
I
feel,
like
that's
a
little
crazy.
B
Yeah-
and
maybe
we
can
like
start
like
the
one
idea
that
we've
had
is
starting
like
a
github
gist
or
whatever
of
as
I've
said,
some
of
these
yield
forms
we
weren't
able
to
put
a
name
to
so
maybe
if
we
can
like
add
names
to
that,
to
make
this
more
community
driven
to
identify,
ammms
and
uniforms
because
they
just
it's
like
a
whack-a-mole
right,
they're
popping
up
so
fast
that
maybe
it
should
be
community
driven
to
you
know,
put
names
on
these
uforms
and
amms.
We
can
do
that
for
sure.
B
A
A
Totally
totally,
I
guess,
to
a
certain
extent,
you
could
probably
see
like
if
there's
an
interest
rate
change,
and
you
see
like
a
specific
inflow.
You
know
an
outflow
die
from
like
one
protocol
to
another.
You
might
be
able
to
like
gain
some
sort
of
insights
from
that
kind
of
behavior.
You
could
say:
oh
hey,
a
ton
of
dye
is
entering
like
you
know,
the
usdc
die
compound
curve
pool
right
and
not
a
lot
of
usdc
is
coming
out.
A
B
Yeah,
well,
we
we,
we
are
working
on
some
proposals
for
the
curve
team
to
manage
to
monitor
their
yield
farming
pools.
As
I
mentioned,
we
want
to
help
the
ecosystem
for
curve
or
balancer
these
bigger
systems
to
help
alert
their
users
of
changes
or,
if
there's
even
arbitrage,
opportunities
like
hey.
We
need
this
type
of
stable
coin
in
this
pool,
because
we're
offering
a
higher
api.
You
know
those
types
of
things
should
be.
It
shouldn't
require
users
to
constantly
go
back
to
the
website.
B
To
get
you
know,
it
should
be
something
that
they
can
subscribe
to.
Events
or
build
chat,
bots
build
useful
tools.
On
top
of
that,
so
we've
got
a
proposal
for
curve
we're
also
looking
at
the
e2
medasha
data,
so
helping
validators
and
stakers
there.
If
there's,
you
know
any
type
of
slashing
events
happening,
if
there's
any
types
of
important
things
that
validators
need
to
be
aware
of,
so
we're
looking
at
putting
a
proposal
for
them
to
help
them
monitor
the
et
staking
data.
A
B
B
And
I
think
you
know,
building
more
of
these
dashboards,
for
other
platforms
will
also
help
like
you
know.
Potential
investors
understand
real
usage
versus
just
like
you
know,
people
coming
in
leaving
platforms
for
just
yield
farming
opportunities,
so
it's
just
just
adding
more
visibility,
more
education
to
the
community
and
the
d5
space
as
a
whole,
totally.
A
A
B
A
A
All
right
sweet:
well,
we
got
a
good
15
minutes
left
and
I'm
gonna,
while
still
just
giving
it
another
minute
or
two
for
any
final
questions
or
anything.
I'm
going
to
pull
up
maker
relay
kind
of
prime
myself
mentally
to
do
like
a
quick
shotgun
update
of
what's
happening
this
week,
all
right,
cool,
well,
prabhav!
Thank
you!
So
much
for
coming
on
and
yeah
again
total
pleasure
and
yeah.
It
looks
like
there's,
there's
not
too
many
comments
or
anything
like
that.
A
A
A
A
Actually
mkr
voters
voted
on
on
this
kind
of
methodology,
change
and
so
now,
instead
of
having
you
know
a
dozen
or
so
polls
dedicated
to
stability
adjustments,
we
just
have
one
proposal
and
an
associated
form
thread
that
kind
of
lists.
The
methodology
lists
the
reasoning
behind
the
changes
and
really
puts
it
in
the
hands
of
the
pros
so
yeah.
Here,
here's
the
the
one
that
we're
voting
on
at
the
moment.
A
So
you
could
see
the
different
changes
and
a
few
of
them
were
raised
like
a
is
being
raised
by
50
basis
points.
Each
b
is
being
raised
by
a
1
wbtc
by
half
of
you
know,
50
basis
points
again,
bat
a
is
almost
doubling
it's
eight
percent
and
then
a
number
of
them
are
being
lowered
and
I
believe
the
ones
that
are
being
lowered
are
that
is
the
case
because
of
the
low
utilization
percentage.
A
So
a
lot
of
these
vaults
came
out
and
just
saw
you
know
almost
no
usage
like
knc
xerx
mana.
Actually,
I
think
that's
not
true
for
mana,
you
know
what
really
quickly,
let's
let's
go
to
dye
stats
or
actually
like
make
her
burns
interface,
a
little
better
scratch
that
yeah
so
yeah.
So
this
one
just
has
a
really
small
dead
ceiling.
A
Yeah
zrx,
you
know
the
utilization
rates
are
just
very
low
on
a
lot
of
these,
and
I
think
balancing
the
risk
perspective
with
the
business
perspective
is
something
that
the
rate
setting
working
group
does
actually
take
into
account
in
their
method,
and
so
I
think
a
lot
of
these
decreases
are
associated
with
trying
to
get
utilization
up
on
those
wall
types
then
going
back,
there's
also
a
another
oracle
poll
to
whitelist
gnosis
on
the
ethiosd
oracle,
pretty
standard
stuff
and
then
yeah.
There's
a
number
of
community
green
light
poles.
A
For
those
of
you
that
don't
know
community
green
light,
poles
are
put
up
after
a
mip
six
collateral,
onboarding
application
is
submitted,
and
so
it
gives
mkr
voters
an
opportunity
to
vote
like
yes,
we're
green
lighting
it
for
the
different
domain
teams
to
do
work
on
these
things.
No
we're
not
or
we're
deferring
it
we're.
Just
basically
saying
it's
not
really
a
priority,
and
so
this
month
we
have
three
different
collaterals
that
are
being
put
up
to
community
green
light.
A
Poles,
that's
rapid
c
cash,
wrapped
file
coin
and
d5
pulse
index
and
yeah
feel
free
to
just
jump
into
this
maker
relay
and
click
around.
The
team
did
a
great
job
of
linking
to
the
applications
linking
to
the
votes.
So
all
the
information
is
right
there
at
your
fingertips
for
exploring
and
so
yeah
a
brief
recap
of
what
happened
last
week.
So
that's
all
sorry.
A
So
that's
all
the
governance
polls
that
are
happening
right
now
and
I
believe,
if
I'm
not
mistaken,
let's
actually
just
really
quickly
check
vote,
not
maker.
Now,
so
there
is
no
it's
the
governing
proposal
yeah.
So
there
are
no
active
executive
votes
because
this
most
recent
one
passed
actually
all
right
cool.
So
then,
moving
on
a
recap
of
what
happened
pretty
much
last
week,
ds
chief
1.2,
the
upgrade
happened.
The
migration
is
still
ongoing,
but
we
did
manage
to
reach
the
80
000
mkr
quorum.
A
The
minimum
quorum
required
for
actually
passing
that
first
proposal
to
activate
it.
So
this
this
vote
right
here
it
needed
80
000
and
we
got
it
and
so
yeah
we
upgraded
the
the
chief
to
being
the
chief
1.2
and
essentially
the
the
main
thing
that
this
upgrade
achieves
is
the
ability
for,
or
rather
the
disability
of,
flash
loans
in
maker
governance.
A
At
this
point,
and
and
so
yeah,
this
upgrade
is
a
really
really
big
sigh
of
relief
to
mkr
voters
who
were
worried
about
that,
and
it
was,
you
know,
a
very
real
threat,
but
thankfully
that
is
now
a
threat
of
the
past
and
and
the
news
for
this
week
to
mkr
voters
is
to
migrate.
So
if
you
go
on
the
voting
portal,
there
should
be
instructions
that
pop
up
that
prompt
you
to
close.
A
We
actually
are
running
a
really
cool
experiment,
so
people
have
been
talking
about
instant
access
modules
for
quite
a
while,
and
we
have
finally
taken
the
step
as
a
community
to
to
test
it.
So
we
are
actually
running
a
debt
ceiling,
instant
access
module
for
the
ethb
vault
type,
and
that
actually
explains
this.
This
really
really
weird
thing
so
like
over.
I
didn't
realize
this
was
happening
until
like
embarrassingly
late,
and
I
saw
this
debt
ceiling
of
like
just
shy
of
15
million.
A
Additionally,
the
maker
community
or
sorry
the
maker
voting
community,
the
mkr
voters
finally
came
to
consensus
and
reduced
stable
coin
stability
piece
to
zero
percent.
So
this
is.
This
has
been
kind
of
in
the
works
for
quite
a
while.
I'm
not
going
to
get
too
deep
into
like
the
backstory
of
this,
but
but
yeah
so
stable
coin
stability
fees
are
set
to
zero
percent
and
which
is
really
good
because
actually,
maybe
I'll
show
a
little
bit.
A
But
it's
pretty
pretty
good
because,
as
you
can
see
from
like
usdca
we're
coming
up
really
close
to
to
breaking
that,
a
lot
of
the
positions
are
are
coming
really
close
to
breaking
their
required
collateralization
and
since
liquidations
are
turned
off.
You
know
it's
kind
of
impossible
to
liquidate
these
positions,
so
we
have
to
just
freeze
them
by
not
charging
them
a
stability
fee
anymore
and
so
yeah.
This
is
kind
of
ongoing.
A
If
I
guess
a
little
bit
more
context
for
the
majority
of
the
year,
die
has
been
trading
above
peg
and
maker
governance
has
pretty
much
done.
Everything
in
its
power
to
help
remedy
the
peg
and
a
part
of
that
effort
was
to
actually
onboard
a
lot
more
collateral,
including
stable
coins
and
usdc,
specifically
from
the
usdca
vault
type,
took
a
huge
share
of
outstanding
die.
A
You
know
almost
half
a
billion
die
as
a
result
of
the
stable
coin,
and
most
of
these
positions
did
so
in
order
to
in
order
to
arb
the
peg
down,
and
this
worked
successfully,
the
die
peg
is
very
close
to
a
dollar
and,
generally
speaking,
I
would,
I
would
say,
make
her
really
really.
What's
the
word,
I
guess
traversed
this
this
storm
really
well
and
now.
A
This
next
phase
is
gonna,
be
about
continuing
to
defend
the
peg,
but
also
to
deal
with
with
these
positions
and
to
help
people
unwind
and
that's
actually,
the
idea
behind
the
psm
being
implemented
as
well
and
so
yeah.
That's
a
little
bit
of
detail
behind
that
and
feel
free
to
ask
questions.
I'm
happy
to
to
take
your
questions
and
kind
of
bring
it
back
next
week
and
and
dive
a
little
bit
deeper
into
kind
of
the
story
that
was
developing
here.