►
From YouTube: Delegate Office Hours | JokeDAO & MIP65 SPF
Description
2:10 JokeDAO and MakerDAO
8:50 Legal Work on MIP65 Special Purpose Fund
The Delegate Office Hours call is hosted by the Governance Communications Core Unit in collaboration with Recognized Delegates of MakerDAO.
The call aims to bring together all delegates and discuss recent events, governance activity, and other domains relative to governance and delegation.
https://forum.makerdao.com/t/delegate-office-hours-8-includes-poll-for-discussion-topic/17406
A
All
right,
hello,
everyone
and
welcome
to
this
week's
delegate
office
hour,
Thomas
flitter
with
govcoms.
B
A
We're
here
to
discuss,
topics
and
I
wanted
to
start
off.
I
think
we
ask
if
you
could
just
yeah,
throw
something
in
the
chat
there,
a
smiley
face
or
see
how
you're
feeling
just
to
get
a
get.
The
vibe
of
the
of
the
of
the
crowd
here
today.
A
I'll
do
that
for
another
minute
and
while
we're
doing
that
I
wanted
to
let
you
know
the
poll
closed
for
this
week,
and
it
was
to
talk
about
the
topic
was
legal
work
on
MIP
65
special
purpose
fund
is
was
the
winning
topic.
That
is
the
topic
we
can
lead
off
with
or
if
we
want
to.
We
have
some
other
things.
There's
a
lot
of
stuff,
that's
going
on,
obviously
in
in
maker
Dao,
but
that
was
that
was
the
winning
weekly
topic
poll.
A
So,
as
folks
continue
to
come
in,
let's
see
if
we
got
any
more
in
the
chat
here.
C
Hey
mine's,
giving
me
sharing
rights
again.
My
computer
just
totally
blew
up
before
when
I.
A
Drive
we're
trying
but
Raphael
is
he
has
nominated
himself
as
the
resident
DJ.
So
let
me
try
to
give
him
so
Coast
writes
there
you
go
and
you
should
have
that
all
right,
so
Raphael
you
can
work
on
that
and
I
will
go
ahead
and
open
the
floor.
One
of
the
things
too,
that
we
had
was
the
the
delegate
priorities
servicing
tool.
Rafael
I
know
you
had
something
on
that.
I
didn't
know.
A
C
Yes,
yeah,
let
me
know
about
the
sound
level
like
I
think
you
could
be
some
some
nice
little
pretty.
C
Go
yeah,
awesome,
okay,
so
actually
team
suggested
that
to
grow
is
that
we
use
joke
dial
and
I.
Think
that's
an
amazing
idea
because,
like
we
have
literally
like
all
the
tools
we
need
to
to
to
have
a
prioritization
tool
with,
like
all
the
best
and
whistles
so
I
think
I'm
gonna
publish
a
post
early
next
week
and
kind
of
have
a
cup.
Because
there's
like
a
couple
of
questions,
do
we
want
to
distribute
to
all
nkr
all
those
do
we
want
that?
C
A
Okay,
David
in
the
chat
said,
can
we
turn
the
sound
out
just
a
little
bit
a
little
too
just
a
little
bit
all
right.
Thank
you.
Thank
you,
Rafael
for
that
opening,
Tim
I'm
going
to
go
to
you
got
your
hand
raised
yeah.
D
So
just
some
context
sitting
there
Raphael
and
I
had
like
a
short
DM
exchange.
Just
talking
about
the
joked
out
platform,
I've
been
participating
as
a
joke.
Dao
dad
joke
connoisseur
every
week,
which
has
been
super
fun.
D
They
are
grounds
they
are
Bottoms,
Up,
governance,
Tool,
it's
pretty
sweet
and
so
Raphael
and
I
just
felt
like
it
would
be
this
sort
of
thing.
That
is
super
interesting.
The
other
context
is
that
I
went
to
gov
Alpha's
office
hours
so
show
for
office
hours
and
talk
to
Peyton,
more
long-term
joke
doubt
might
be
something
useful
for
maker
governance
as
a
sandbox,
so
we
could
use
it
for
speed,
running
RFC
or
something
like
that.
D
I
don't
know,
I
had
a
couple
of
good
ideas,
I
put
them
in
the
growth
Channel
and
the
Discord,
and
so
there's
two
pieces
here.
There's
a
short-term
thing
that
actually
gets
everyone
on
the
same
page
and
uses
the
platform
which
is
what's
called
a
joke
race.
They
promote
it
on
Twitter.
We
asked
the
growth
team.
If
they
would
do
it,
they
seem
lukewarm
or
a
yes.
So
that's
that's
good.
D
We
need
to
just
verify
that
we
could
do
that,
set
up
the
timing
to
do
the
joke
race
and
at
that
point,
writing
this
forum.
Post
is
probably
the
best
thing
to
do
so.
D
The
only
thing
that's
missing
at
Raphael
is
just
to
get
you
connected
with
their
founder
David,
because
they're
also
writing
a
forum
post.
That's
what
they
do
all
day:
joke
Dallas,
entirely
Community
run
it's
Grant
funded,
there's
no
other
outside
sources
of
funding,
so
they
write
grants
all
day.
They
write
foreign
posts
all
day
to
just
introduce
the
platform
to
show
what
they
do
and
they're
iterating
in
public,
which
is
super
awesome
and
yeah
I.
D
D
You
know,
there's
a
really
cool
mechanism
to
the
thing
where
you
create
a
contest
if
anyone's
familiar
with
the
mirror
right
race.
You
set
up
the
parameters
to
win
the
race
right,
but
the
difference
is:
is
that
the
voting
of
who
wins
on
whatever
submission
is
based
on
like
a
token
airdrop?
D
But
you
can
also
do
a
token
claim
and
you
can
pick
different
chains,
so
we
can
actually,
when
we
get
to
this
forum
post
start
to
Think
Through,
how
we
want
to
use
different
chains
and
joke
down
on
different
chains
and
do
different
types
of
airdrops
or
claims
or
other
stuff,
like
that.
Also
considering
it's
multi-chain,
it's
also
cheap.
So
we
can
play
with
what
that
looks
like
as
well.
D
So
there's
a
lot
of
opportunity,
space
that
this
opens
up,
but
the
first
thing,
the
most
immediate
things
do:
the
joke
race,
which
is
by
far
the
most
fun
thing
that
they're
doing
and
fun
things
and
governance
are
extraordinarily
rare,
which
is
why
I
recommended
it
and
that's
the
that's
the
Spiel.
So
Schilling
is
now
recorded
on
YouTube
somewhere,
which
is
great.
A
E
Yeah
I
guess:
I
dropped
a
few
random
use
cases
in
in
the
chat
there,
but
basically
on
on
our
end,
I
think
it's
it's
pretty
cool
like
starting
your
joke
race.
There
are
a
bunch
of
reasons
you
could
do
that
right
and
then,
as
people
get
familiar
with
the
platform,
then
we
can
launch
into
these
like
fun,
sandboxing
things.
If,
if
people
want
to
use
it,
what's
I
guess
particularly
neat
about
joke
dial
from
the
government
standpoint.
E
It's
like,
unlike
snapshot,
you
don't
need
an
ens
to
like
set
things
up
and
gate
it.
That
way,
so
like
one
of
their
big
advantages
is,
is
that
anyone
can
can
make
a
proposal
there
and
set
out
the
different
rules
that
sort
of
thing,
which
is
another
advantage
of
governance,
because
I
know
personally,
like
a
lot
of
times,
people
have
proposals.
It's
really
like
hey
I,
think
this
is
a
good
idea,
but
I
only
want
to
do
it.
E
If,
like
you
know,
there's
there's
broader
Community
Support,
because
I
want
to
be
a
good
Steward
of
funds,
and
you
know
all
these
other
reasons,
and
that's
great
it's
great
that
people
are
seeking
that
input
it,
but,
like
our
governance
system,
isn't
really
designed
for
that
type
of
input
right.
It's
designed
to
make
final
outcome
changes.
So
all
you
end
up
with
these
kind
of
weird
signals
that
aren't
really
set
to
change
anything,
and
it
stems
from
the
fact
that
that
people
want
more
input,
but
don't
have
a
great
way
to
get
it.
A
That's
great
paid,
thank
you
and
just
to
recap:
where
again
is
this
located?
You
said
in
the
growth
Channel
Tim.
D
Yeah,
the
communications
about
the
short-term
and
more
long-term
use
cases
are
in
the
growth
public
channel
in
our
Discord
and
then
Raphael
like
I,
said.
I'm
gonna
bring
him
in
for
the
Forum
post,
which
is
literally
just
taking
what
joked
out,
wrote
and
then
either
being
a
part
of
that
as
a
contributor
or
like
putting
it
on
the
form
that
they
exist
on
all
of
the
discourses
everywhere,
because
it
is
again
a
governance
tool
and
they're
trying
to
get
it
in
the
hands
of
as
many
people
as
possible
to
see
what
it
can
do.
A
All
right,
that's
awesome!
Thank
you
so
much
Tim
and
thank
you
for
those
comments
really
appreciate
that
we
look
forward
to
continuing
conversation
on
that.
A
Let's,
let's
take
a
look,
then
let's
go
back
to
the
poll
for
this
week.
If,
if
you
will
less
there's
any
other
comments,
questions
about
that
particular
subject,
anybody
else
want
to
chime
in
on
that
I
think
Nadia
was
here,
I
know
the
I.
Think
I
don't
know
if
there
was
anything
she
wanted
to
add
from
the
growth,
so,
okay,
all
right,
wonderful.
So
this
week's
topic
poll
was
legal
work
on
MIP
65,
special
purpose
fund.
A
That
was,
we
only
had
a
few
votes
this
week.
So
just
wanted
to
open
the
floor.
That's
the
topic,
I
believe
it.
We
want
to
get
started
with.
Does
anybody
want
to
I'll
open
the
floor
to
see
if
anyone
wants
to
get
things
started
on
on
that
particular
topic
or
other
topics
that
you
feel
like
we
need
to
cover
today.
A
F
Hey,
if
you
could
hear
me,
can
we
get
an
update
where
miss65
is
and
if
we
can
get
a
get
an
idea
of
what
CES
is
doing,
what
strategic
Finance
is
doing
because
I
I
spoke
to
Alan
the
last
24
hours
and
you
know
he's
adamant
about
having
both
teams
work
together
to
get
lips
65
across
the
line,
which
is
my
my
goal.
So
three
have
delegates
goals.
So
what
what
you
know
can
you
kind
of
explain
to
us
for
me
the
core
unit?
What
exactly
your
roles
are?
H
Engineering
Services
process,
and
so
from
a
high
level
Frank.
How
deep
do
you
want
to
get
into
this
I
can
give
you
very
specific
details
and
in
light
items
and
and
some
time
frames
that
we're
currently
working
with
so
I
can
provide
a
lot
of
detail
or
just
give
you
the
high
level.
What
would
you
like,
High
Deep
dive?
Okay,
so
could
you
give
me
screen
sharing
privileges,
yeah.
A
A
C
A
H
If
we
want
to
cut
to
the
chase
the
bottom
eight
we've
targeted
at
the
end
of
September
to
be
able
to
at
this
time
the
earliest
that
we'd
be
able
to
Pilot
the
1
million
transfer
to
coinbase
and
then
followed
with
a
series
of
transactions
until
the
total
amount
is
transferred.
So
leading
up
to
that,
we
have
a
variety
of
activities
that
are
currently
underway,
given
in
the
CES
core
unit,
with
legal,
with
monotalis,
with
the
documentation
that
they're
providing.
H
A
All
right,
thank
you,
Robert,
for
that.
H
Thank
you.
The
the
dates
are
subject
to
change
based
upon
factors
outside
of
our
control.
Sometimes
Partners
don't
work
with
the
same
urgency
that
we
do
internally
and
therefore,
for
example,
if
coinbase
or
Signum
decided
to
drag
their
heels
a
little
bit,
you
could
see.
Some
of
these
dates
extend
out
if
there
are
concerns
by
the
community
once
some
of
the
assessments
are
published,
we
might
need
to
address
those.
H
A
All
right,
thank
you,
Robert
Frank,
any
questions
or
anyone
else,
questions
about
Robert's
information.
F
Yeah
and
the
legal
review,
if
you
kind
of
walk
us
through
that,
and
whether
that's
CES
or
strategic
finance
and
kind
of
walk
us
how
it's
going
to
be
used
from
the
CES
budget,.
H
Yeah
so
from,
let
me
start
with
a
couple
of
things
here,
but
first
off
I,
based
upon
the
results
of
the
poll
that
just
completed
I,
published
an
update
to
give
this
not
only
group
but
also
the
community,
a
better
understanding
of
the
plan
moving
forward
as
it
relates
to
our
rwas
and
so
I
would
encourage
each
of
you
to
read
this
and
ask
questions
when
you
have
an
opportunity
either
in
the
forums
or
DM
me
either
way.
But
essentially
is
that
we
are
now
managing
the
the
holistically.
H
So
from
that
I
realized
that
there
are
other
you
know
and
as
a
core
unit,
I
should
mention
that
I
do
provide
a
little
bit
of
information
on
what
I
believe
to
be
the
original
intent
of
core
units
of
this
decentralized,
more
autonomous,
independent
team.
That's
able
or
gets
to
the
point
of
being
able
to
execute
on
very
specific
goals
and
have
accountability.
H
I
think
one
of
the
strengths
of
core
units
is
that
there
can
be
multiple
core
units
that
offer
to
do
work
and,
if
there's
a
conflict
in
that,
then
I
think
the
the
the
the
community
in
care
holders
are
the
ones
that
decide
how
that
should
work.
So
as
I
position,
it
is
that
I
really
do
look
at
all
of
the
core
units
as
resources
and
effectively
they're
contractors,
and
they
have
the
ability
to
provide
those
services
or
not.
H
And
so
my
goal
going
forward
is
to
ensure
that
we
have
a
pool
of
resources
available
to
be
able
to
help
us
with,
especially
with
our
rwas.
Well,
that's
legal
deal
risk
credit
accounting
because
one
of
the
things
we
don't
want
to
do
is
we
don't
want
to
be
dependent
upon
any
one
person
or
one
group
inside
of
the
Dow
to
to
get
things
completed
so
with
that?
Yes,
well,
I'll
turn
it
over
to
Seb
and
he
can
give
his
updates
from
a
strategic
Finance
perspective
on
the
legal
aspect.
G
Yes,
thanks
so
on
meet65,
specifically,
we
we
had
a
call
with
Christian
and
Alan.
We
have
a
code
every
week
we
see
us
and
all
the
boys
and
girls,
but
we
had
one
quote
on
the
legal
side
and
we
made
quite
some
good
progress.
G
The
trust
documents
most
of
the
documents
are
good
what
we
are
working
on,
but
we
process
most
of
them
was
a
resolution
which
we
include
in
the
legal
side
and
you
might
say:
well
it's
a
resolution
or
not
triggered
about
cell
Studio
text
and
not
quote
so
that's
added
to
the
list
and
we
are
making
much
progress
and
if
you
look
at
the
Roberts
slides
the
main
bottleneck,
so
most
of
the
assessment
will
be
done
on
the
5th
of
September
and
then
what
we
did
is
mainly
writing
the
spells
that
takes
two
weeks
or
three
weeks.
E
And
just
around
exact
timing,
everyone
always
wants
to
know.
When
is
the
exact
going
to
go
up
and
the
best
we
can
do
is
say
if
everything
goes
well.
It'll
be
ready
on
this
date,
so
just
always
a
reminder
that
when
you're
talking
about
dates
and
stuff
like
that
to
like
usually
about
a
one
week,
kind
of
Target
period,
just
with
engineering
resources,
as
they
are.
A
All
right,
thank
you.
Peyton
appreciate
that
Raphael
I
won't
go
to
go.
You
have
your
hand
raised.
Do
you
have
a
floor.
C
H
I
I
don't
see
any
delay
and
there
really
hasn't
been
because
Christian
has
continued
to
engage
in
the
legal
side
of
things.
So
so,
as
I
mentioned,
I
don't
see,
there's
any
significant
blockers
in
the
way
of
wow.
We
have
a
gap
here.
We
don't
have
a
solution.
It's
more
of.
We
just
need
time
to
get
the
work
done.
You
know,
contract
and
legal
take
time
to
go
through.
H
Obviously,
we
have
an
internal
governance
process
from
the
time
the
code
is
actually
complete
until
we
get
to
the
executive
and
then
like
the
whole
package
that
comes
through
in
the
way
of
of
of
the
the
documentation.
So
there's
just
a
lot
to
do,
but
but
I
don't
perceive
there
and
Sebastian.
You
know
correct
me:
if
I'm
wrong,
I
don't
perceive
there
to
be
any
any
blockers
who
are
waiting
on
anything
we're
just
chunking
through
the
work.
G
Yeah
I
can
I
can
say
we're
still
took
one
month's
delay,
so
that's
not
nothing,
but
now
everything
is
under
control
and
we
are
working
with
Christian
and
that
and
to
get
legal
side
done.
Cs
has
already
kind
of
finished
if
I'm
correct
the
technical
side,
I
reviewed
the
technical
verification.
There
was
some
minus
changes,
we
have
the
tech
side.
We
are
okay
on
the
legal
side,
just
some
Minor
Details
to
fix
everything,
and
then
one
month
was
a
spell
development.
Yeah.
H
I
don't
yet
have
we
had
a
CES
and
PE
had
a
conversation
before
this
meeting
about
the
implementation
and
how
we're
proposing
the
500
million
transfer
and
so
I
don't
have
an
update
with
that
yet,
but
but
on
Monday
that'll
be
part
of
the
CSI
meeting
so
again,
I
encourage
you
all
to
attend.
A
F
Yeah,
it's
with
regards
to
coinbase
am
I
under
the
impression
that
this
is
a
strategic
Finance
Initiative
for
CES
I
feel
like
Alan's
mentioned
monatellis.
This
legal
structure,
they're
using,
is
something
that's
been
done
before
with
coinbase.
Is
that
right
or
did
I
misunderstand
them
completely?
There
I.
G
F
Yeah,
exactly
is
that
initiative
that
you
guys
have
taken
or
CES
I
know.
Robert
you
mentioned
you.
You're
gonna
try
a
million
with
coinbase,
so
just
trying
to
get
the
backstory
there.
No.
G
G
There
are
not
it's
not
their
Core
Business
and
obviously,
when
you
go
to
coinbase
you,
you
get
zero
percent
fees,
which
is
always
better
than
10
Business
Point,
especially
when
you
are
alpha
video,
so
Adan
was
kind
enough
to
work
with
current
base
to
so
we
can
go
through
campus
and
we
had
some
discussion
at
the
Genesis
like
well.
G
Should
we
go
to
convert
through
conveys
or
should
we
go
through
bank
Signum
U.S
die
directly
because
there
are
freshly
minted
dyes
or
less
regulatory
risky
than
usdc
and
pays
the
price,
and
there
was
a
little
discussion.
You
can
check
the
videos
I
think
well,
should
we
let
the
community
decide?
Should
we
first
work
on
and
we
didn't
cut
this
this
problem
when
Genesis
show
that
actually
there
was
no
problem
whatsoever,
but
we
are
still
keeping
Signum
now
in
the
process
as
a
backup
in
case,
if
there
was
any
issue
at
Icon
base,.
B
Growth
with
the
Strategic
Finance
on
how
to
like
increase
the
strategies
that
we
already
have
to
get
yield
on
the
PS
on
on
the
PSM.
So
we
have
been
conducting
different
stablecoin
providers
and
with
the
help
of
strategic
Finance,
we
created
a
strategy
like
thinking
like
not
just
on
usdc
or
a
paxos
USD
or
gemina
USD,
but
we
think
about
the
PSM
as
a
whole
and
that's
something
we
want
to
discuss
with
the
delegates,
because
we
have
like
different
initiatives
that
we
could
do
with
this
stablecon
providers
to
get
yield.
B
But
of
course
like
in
most
of
the
cases
as
with
all
real
world
assets,
we
will
need
an
entity
that
represents
maker
and
that's
why
monitor
list
is
also
like
involved
in
in
one
of
these
initiatives,
but,
like
we
invited
delegates
for
a
meeting
tomorrow,
to
tell
you
a
little
bit
more
about
this
and
talk
about
this
in
detail.
G
Yeah
yeah
there
was
plenty
of
other
topics
that
strategic
Finance
is
working
on
topic
like
that,
but
there
are
still
confidential.
So
you
go
to
Jesus.
H
Yeah,
so
just
the
learning
that
we
we
also
took
away
from
HP
Bank
was
having
multiple
Brokers
is
probably
a
good
thing
right,
so
here's
learning
applied
forward.
Nothing
too,
is
Frank.
You
said
something
specific
and
I
want
to
address
it
as
it
relates
to
like
who's
owning.
What
and
I
want
to
make
it
very
clear
that
the
CES
mandates
very
specific,
if
other
core
units
want
to
spin
up
a
collateral,
onboarding
mandate.
Awesome,
please
please
do
so
because
I
think
that's.
H
The
essence
of
what
core
units
are
is
to
have
a
level
of
redundancy
to
make
sure
that
we
don't
have
any
single
point
of
failure.
So
if
we
want
to
bring
also
want
to
bring
accountability
into
this
process
and
I,
think
there's
been
a
lot
of
that
proposed
with
kpis
and
all
sorts
of
other
mechanisms
is
that
we
either
have
it
or
we
don't
so
either
the
responsibility
lives
somewhere
or
doesn't,
or
if
it's
split,
that's.
Okay,
too.
H
We
just
understand
what
that
looks
like,
so
anyone
can
propose
to
do
collateral
onboarding,
but
right
now
CES
is
the
is
the
is
the
core
unit
that
does
that.
So
from
a
process
and
an
Implement
technical
implementation
perspective
and
also
finding
the
resources
when
we
have
gaps
or
needs
to
be
able
to
onboard
a
piece
of
collateral
like
legal
risk,
accounting,
whatever
you
know,
that's
that's
something
that
is
within
our
mandate
and
our
responsibilities,
so
I
hope
that's
clear.
Frank.
F
G
G
Clear
on
what
are
the
responsibilities
am
I
still
did.
Captain
whatever's
determines
because
I
never
knew
what
he
meant
at
the
beginning,
on
maybe
65
and
backed,
or
are
you
taking
care
officers.
H
I
I
I'm
not
sure
what
deal
Captain
is
and
I
think.
Maybe
that
was
a
term
that
was
used
with
rwf,
but
as
far
as
once,
I've
always
said
that,
once
the
application
hits
the
queue
then
effectively.
Is
that
we're
managing
the
process
of
that
and
there
are
collateral
stakeholders
Sebastian,
which
you
are
absolutely
one
of
those
and
they're
also
domain
teams.
H
So
that's
the
current
structure
that
we
have
and
I
just
want
to
I
just
want
to
make
sure
that
that
we're
clear
on
those
responsibilities,
and
so
so
as
we
as
we
chunk
through
this
process.
You
know
that's
again,
the
stakeholders,
the
domain
teams,
are
part
of
that
process.
We
facilitate
that
process
and
identify
any
gaps
and
then
also
ensure
that
we're
communicating
with
the
community
like
we
did
today
on
the
update
as
it
relates
to
where
collaterals
are
at
in
the
system.
H
Much
on
this
call
because
I
know
we're
focused
on
onboarding,
but
there's
there's
work
as
I've
outlined
at
a
high
level
inside
of
the
Forum
post
that
there's
a
substantial
amount
of
work,
especially
in
the
rwa
area,
that
we
need
to
do
a
better
job
in
the
way
of
collecting
data
reporting
and
ensure
that
that
when
something
is
or
isn't
happening,
we're
communicating
that
out
and
the
initial
work
is
focused
on
rwas,
because
I
think
there's
plenty
of
data
and
teams
that
are
focused
on
the
decentralized
collateral
right
now.
A
All
right,
thank
you.
Robert
appreciate
that
a
lot
of
good
information
is
any
questions
about
what
the
next
steps
are.
You
know
the
meetings
and
everything
does
anybody
have
any
questions
regarding
that
didn't
know
if
they
would
just
open
the
floor
to
any
other
additional
questions.
E
F
Through
your
post,
there
Robert
and
you
were
you're,
mentioning
rwl
deals
signaling
and
you
said
you're
gonna
run
in
a
I
guess
a
signal
request.
First
of
what
type
of
rwa
collateral
types
maker
that
was
willing
to
onboard.
Can
you
walk
us
through
that
yeah.
H
So
that's
that's
the
one
of
the
questions
I
have
for
this
group
because
we
seem
to
have
a
lot
of
different
opinions
and,
as
now,
rwa
Pros
little
you
know,
applicants
that
are
that
are
looking
to
put
together
something
you
know.
The
deals
are
across
the
board.
H
Still
so
I
would
like
to
be
able
to
gain
consensus
on
the
types
of
collaterals,
not
arrangers,
and
not
the
actual
companies
doing
the
work,
the
types
of
collateral
that
we
want
to
signal
to
the
broader
Community
about
what
we
want
on
board
right
now
and
put
that
up
for
a
poll
make
it
public
and
clear,
and
then
we
can
radiate
that
out
to
ensure
those
are
the
deals
that
are
coming
in.
It's
not
CES
doing
saying
this
is
acceptable
or
not.
F
So
kind
of
like
an
automation
where
perhaps
it
would
be
nice
to
get
another
Regional
Bank
in
Nebraska,
for
lack
of
a
better
State
it'll,
be
easier
to
onboard
without
an
rwf
core
unit
team,
correct.
H
Correct
I
mean
it's
that
we're
not
doing
any
deal
origination,
that's
just
not
in
in
our
scope
at
this
time,
and
so
one
of
the
ways
around
as
as
a
Scott,
stop
Gap
measure,
or
maybe
even
a
permanent
measure,
is
to
to
work
with
the
broader
Community.
To
say
these
are
the
types
of
deals
that
we
want
to
see
like.
F
All
right,
yeah
and
Raphael
is
mentioning
diversification
of
regions
which,
which
would
be
good
too
so
yeah.
A
G
Yeah
I
just
wanted
to
touch
on
the
SPF
that
we
propose.
So
there
are
two.
There
is
a
one
on
map
65
that
we
still
need
to
play
Christian
at
the
end.
Look
at
Beto
salaries,
if
not,
and
the
second
one
is
on
backed
Finance
bibta,
the
ETF
that
is
also
on
it's
a
MIP
65
one,
but
so
just
to
give
you
some
updates.
The
second
is
SPF
is
currently
at
50k.
We
are
still
running
through
some
law
firms
to
get
some
quotes.
G
I
think
it
should
be
fine
to
get
50k
or
a
bit
less
so
meaning
a
weekly
process,
but
we
are
still
waiting
confirmation
from
the
U.S
regulatory
firm,
which
we
is
later
on
this
one
one
of
the
biggest
law
firms
in
the
world
that
we
also
used
for
for
every
year
with
what
I
said
actually
since
the
beginning.
So
we
are
still
waiting
on
this
one
and
then
we
will
push
forward
the
SPF
for
for
bike.
Finance
and
I
just
wanted
to
have
some
feedback.
A
Okay,
special
any
comments
about
his
question.
Any.
F
Yeah,
so
would
it
be
possible
so
before
this
goes
to
an
on-chain
poll?
Would
it
be
possible
to
kind
of
give
us
an
idea
of
what
strategic
finance
will
be
asking
from
the
legal
team
so
assuming
it
does
get
voted
on
right?
F
At
this
point,
I
mean
three:
have
delegate
more
than
likely
will
support
this
because
I
just
don't
see
a
better
path
forward
unless
somebody
else
has
one
to
get
a
legal
review
of
back
Finance,
but
with
you
know,
with
the
current
talk
of
maybe
even
flashbots,
releasing
this
new
Mev
I
can't
think
of
it
now,
but
this
new
code
that
any
proof
of
stake
validator
can
use
to
censor
certain
blocks
right
once
we
hit
ethereum
2.0
in
September.
F
Hopefully
you
know:
is
there
a
possibility
that
the
legal
firm
that
you
guys
hire
or
strategic
Finance
can
kind
of
answer?
Those
kind
of
questions
if
censoring
certain
ethereum
address
should
be
a
thing
or
am
I
reading
this
wrong
and
back
Finance
already
has
that
figured
out.
G
No,
so
you
cannot
figure
that
out
and
I
mean
it's
the
same
thing
in
monetaries
and
by
Finance.
So
if
there
is
a
big,
we
like
regulatory
backlash,
boss
will
be
the
same,
because
both
are
actually
located
in
Switzerland,
a
bank
Signum,
which
is
acoustudiana
CTF,
is
in
Switzerland
and
by
Finance,
is
in
Switzerland
as
well,
because
it's
a
beautiful
country
and
a
good
layout
setup.
So
on
regulation
side,
none,
they
are
at
the
same
level,
more
or
less.
G
On
the
investment
side,
there
are
almost
the
same
level,
because
it's
the
same
underlying
at
least
for
IBT,
so
no
difference.
The
main
difference
is
that
is
issuing
a
structured
product
which
called
a
certificate
on
this
token
on
tctf,
making
it
an
rc20
and
permissionless,
and
so
on
the
Swiss
firm.
We
have
only
asked
for
Law
Firm
for
quotes
and
get
feeding
with
them,
because
we
don't
know
them
too
much.
The
scope
of
work
is
really
to
see.
G
Well,
please
just
make
a
due
diligence
and
tell
us
where
are
there
is
what
back
financing
is
wrong
and
and
so
on,
and
also
to
give
us
a
short
memo
to
well.
Those
are
the
risks
that
this
GLT
act
doesn't
care
too
well
on
the
U.S
regulatory
side,
actually
International,
but
it's
been
in
the
US.
What
we
want
to
see
if,
if
using
the
current
setup,
what
are
the
risks
on
the
U.S
side
we
are
not
located
in
the
U.S.
Switzerland
is
not
in
the
US
as
intermediary
would
not
be
in
the
U.S.
G
Neither,
but
we
just
want
to
be
sure
that
what
are
the
all
the
risks
that
we
can
face
and
let
them
pointed
out
one
good
risk
that
we
didn't
think
of
and
I
don't
know.
What
are
the
risks?
That's
why
we
are
paying
someone
a
lot
to
find.
G
What
are
those
risks
dealing
with
Securities
buying
and
selling
through
the
PSM
or
what
we
call
the
PSM,
which
is
not
a
PSL,
could
expose
us
to
the
broker
dealer
regulation,
and
so
we
need
to
be
sure
that
we
are
just
only
buying
for
ourselves
and
at
some
point,
preferably
after
one
year
we
can
sell,
because
after
one
year
a
private
security
become
safe
for
SSC,
at
least
so
we
will
be
outside
of
this
regulation,
which
doesn't
mean
this
regulation
applies
whatsoever.
But
it's
always
good
to
know.
G
Well,
if
we
can
be
a
bit
more
safe,
even
if
it
shouldn't
apply,
it's
always
better
and
it's
ready
to
have
all
those
kind
of
IDs
and
have
a
real
visual
from
the
you
I.
Guess
you
guys
regulatory
perspective
on
what
other
risk
and
what
other
thing
we
can
do
to
limit
the
risk,
but
I,
don't
think
between
monetaries
and
backed
finances
more
or
less
exactly
the
same
risk
you,
you
can
sensor
the
transactions,
but
that
means
that
there
is
some
regulatory
action
against
backed
and
then
so.
G
Yes,
JCC
can
just
send
a
letter
to
the
bank
signal
sayings.
We
are
financing
tourists
or
whatever.
E
H
So
when
we
take
a
look
from
a
process
perspective,
you
know
one
of
the
things
it
begs
for
is
an
evaluation
by
our
risk
team,
and
you
know
immediately
you're
going
to
see
some
things
that'll
be
challenging
for
us
and
then,
if,
if
that
assessment
didn't
pass,
then
it
would
be
follow
more
of
the
rwa
implementation,
which
in
many
respects
requires
a
counterparty
which
there
isn't
one
so
there's
some
other
risks
that
are
that
are
present.
That
will
have
to
understand
and
as
a
community
to
decide
if
we're
willing
to
to
take
those
on.
H
So
there's
a
lot
here,
what
kind
of
risk?
Well,
you
know
from
a
decentralized
collateral
perspective.
It
comes
through
that
way,
working
with
something
that
is
more
of
an
erc20
token,
with
an
organization
that
doesn't
have
any
liquidity
for
the
token
and
if,
for
whatever
reason
they
disappear,
what's
our
claim
to
the
underlying
asset.
G
Yeah
so
yeah,
it's
true
that
usually,
if
you
are
doing
an
essay
20,
we
are
speaking
mainly
about
frequency
which
in
this
case
that
might
or
might
not.
We
forget
about
that.
So
I
just
say
that
that
isn't
to
take
the
worst
case,
and
so
it's
not
like
you're,
traditionally
a
C20
just
like
monetaries
monetaries,
if
so
intermediary,
which
is
coinbase
disappear.
G
Well
then
we
have
a
problem.
So
the
problem
is
exactly
the
same
here,
it's
more
on
the
legal
side,
and
for
that
you
need
to
be
sure
that
we
can
redeem
or
anyone
can
redeem
through
back
Finance
or
if
by
Finance
his
bankrupt
through
the
security
agent
and
that's
I
would
say
it's
more
on
the
legal
side
than
at
the
risk
side
like
we
are
dealing
with
liquidity
on
ease
of
5
Bitcoin.
H
The
other
other
obvious
one
is:
is
that
because
it
curves
out
the
US
and-
and
we
just
have
to
ensure
that
we're
going
to
feel
confident
that
that,
because
we
were
permissionless
and
we
have
no
way
to
whitelist
or
Blacklist,
so
there
are
some
considerations
there
that
obviously,
in
the
legal
assessment,
we're
gonna
have
to
understand
how
that
impacts.
Us
yeah,
I.
H
B
G
Yeah
and
that's
so,
what
idea
is
to
have
a
legal
assessment
be
by
professionals
and
publish
it
and
then
Community
as
we
decided
on
the
Cs?
If
there
is
something
that
seems
risky
and
that
would
not
be
a
decision
from
strategy
Finance,
it
will
be
a
decision
from
all
the
stakeholders
of
this
meeting.
Quite
our
meeting,
then
we
publish
a
senior
request
to
see
if
Community
wants
to
go
forward.
Otherwise
we
just
move
forward
and
my
question
is:
is
it
possible
to
move
forward
or
will
you
be
saying?
G
H
Well,
if,
as
far
as
the
process
is
that
assessments
are
published,
and
then
we
go
to
a
governance
poll,
so
that's
just
built
in
and
so
once
the
assessments
are
published
and
the
community
gets,
it
gets
the
op.
The
last
look
on
yeah
your
name
and
FDA.
We
just
move
forward
with
the
implementation
and
go
through
the
exec,
so
the
question
becomes:
is
that
what
is
needed
in
the
way
of
the
assessments
and
who's?
Doing
what
and
I
think
that's
the
thing
that
we'll
start
to
talk
about
on
Monday
during
the
CSI
call
I.
G
H
A
All
right,
so,
thank
you
guys,
I
appreciate
that
conversation,
Mark
has
got
his
hand
raised
and
I
just
also
want
to
let
everybody
and
be
mindful
of
the
time
we've
got
about.
10
minutes
left,
so
Mark
I'm
gonna
head
to
you
and
then
we'll
open
the
floor
for
any
last
questions.
Comments
go
ahead,
Mark.
I
Yeah,
so
I
just
wanted
to
briefly
comments.
On
fact,
Finance
I
mean
my
view
is
that
we
should
be
seeking
the
automates
everything
as
much
as
possible.
I
would
recently
listened
to
an
interview
with
SPF,
who
said
that
you
know
on-chain
treasuries
and
securities
is
going
to
happen
and
there's
progress
being
made
in
the
U.S,
even
which
is
the
most
difficult
jurisdiction
for
you
know
this
type
of
tokenization
projects
to
occur,
so
you
know
maybe,
and
we're
acutely
aware
of
the
risks
as
it
relates
to
backed
Finance
but
I.
I
Think
if
we
ever
want.
You
know
this
to
truly
be
a
autonomous
organization.
You
need
to
seek
to
automate
everywhere
and
be
on
The
Cutting
Edge
and
pushing
the
boundaries
here.
So
maybe
we
do
all
the
legal
due
diligence
and
we
decide
to
not
pursue
it
any
further,
but
I
think
we
need
to
be
costly
on
The,
Cutting
Edge
of
these
products
and
understanding
exactly
how
they
work
all
the
legal
considerations,
because
maybe
one
day
there's
actual
law
passed
some
major
jurisdictions
and
then
it's
you
know
all
the
legal
issues
we
run
into
go
away.
I
So
you
know
we
are,
you
know,
making
a
little
bit
of
an
investment
with
an
uncertain
payoff
on
the
legal
sides,
but
I
think,
given
how
we
at
least
the
reason
I'm
here
is
for
everything
in
the
world
to
be
tokenized,
including
every
financial
asset,
and
that
is,
you
know,
pushing
the
boundary
there
and
I
think
it's
something
that
we
should
pursue.
So
yeah
the
zumie
a
lot
of
challenges
being
on
The
Cutting
Edge
of
this,
but
I
think
we
need
to
take
this
journey.
A
All
right,
thank
you.
Mark
I'm,
going
to
move
over
to
raphaeli,
get
your
handwrites.
You
get
comments.
Yeah.
C
On
the
on
the
back,
Finance
I
was
under
the
impression
that
even
with
facts
disappears
for
some
reason,
others
would
step
up
to
kind
of
offer
redeeming
services
on
that.
Do
you
think
that's
a
possibility,
or.
G
Yeah
by
Constitution,
you
can
go
to
the
secret.
Anyone
holding
this
token
can
go
to
the
security
agent,
which
means
as
we
are
now.
G
We
cannot
go
because
we
don't
exist
and
that's
all
choice
to
do
not
exist,
but
you
can
find
any
Swiss
Man
actually
to
do
the
trade
and
take
a
little
bit
of
a
spread
or
you
can
also
use
I,
don't
know
herbal
asset
Foundation
if
humanitaries
go
through,
we
will
have
a
BVI
structure
or
the
scripture
can
be
used
to
to
solve
the
same
sensitive
and
that's
again
to
be
100
sure
that
the
security
agent,
a
security
agent,
is
not
a
startup.
It's
I
try
to
improve
it
to
get
a
credit
user.
I.
G
A
Okay,
thanks
bash
appreciate
that
we've
got
we
do
have
about
10
minutes
left
in
today's
office
hours
didn't
know
if
anybody
had
any
more
thoughts
or
questions
about
this
topic.
It's
been
a
good
discussion
so
far.
A
Okay,
all
right
well
with
that
said,
I
think
we've
got
a
few
things
that
we
want.
We've
got
a
meeting,
some
other
things
in
the
forums
got
some
things
that
we
want
to
do
for
next
steps,
I'd
like
to
open
the
floor
to
the
delegates
to
see
if
there's
any
additional
questions
comments.
Thoughts
are
the
folks
on
the
call
as
well
as
we
got
a
few
more
minutes
to
talk
foreign.
A
Gnr
call
the
topic
is
going
to
be
about
the
target
level,
spending
or
Target
level
spin,
and
also
we're
going
to
have
a
should
have
good
discussion
on
that.
So
the
floor
is
open
for
anyone
they'd
like
to
chime
in.
A
All
right:
well,
let's
see
we've
got
again
a
few
more
minutes.
Anybody
else
have
any
parting
thoughts
for
today.
C
A
All
right,
well,
listen!
Thank
you!
Everyone
for
the
great
discussion
today.
We've
got
some
things
again.
Some
follow-up
meetings,
some
follow-up
discussions,
some
things
out
in
the
Forum
thanks
for
joining
us.
We
hope
to
see
you
at
the
GNR
call
see
you
soon.