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From YouTube: Delegate Office Hours | OUSD Decentralized Rewards
Description
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/mip87-ousd-decentralized-rewards/18216
A
All
right
welcome
everybody
to
another
weekly
delegate
office
hours.
This
is
a
place
where
yeah,
sometimes
there's
one
delegate,
sometimes
there's
six
delegates
and
and
we're
all
here
to
kind
of
just
talk
chill.
A
If
there's
no
talk
happening,
we
could
all
just
work
on
our
stuff,
as
we
usually
do,
but
otherwise
yeah
I
see
there's
a
a
handful
of
new
faces
here
today
and
also
there
are
some
folks
from
the
core
units
Psychonauts
from
immunofi
security,
Peyton
from
gub
Alpha
Roberts
from
collateral,
Engineering
Services,
and
we
have
a
couple
of
delegates
do
and
paper
Imperium
paper
Imperium
represents
gfx
Labs
do
represents
do
and
then
Andrea,
Peter
and
Josh
I
believe
are
are
visiting.
So
yeah
welcome,
guys.
A
Yeah,
the
way
we
typically
run,
these
calls
is,
if
there's
no
like
Set
topic,
that
really
people
want
to
discuss.
It's
just
like
office
hours,
so
feel
free
to
like
jump
in
obviously
like
basic
rules
of
decency.
Like
don't
try
not
to
like
cut
people
off,
you
know,
DBA,
don't
be
an
right,
so
yeah
we're
all
chilling
and
yeah
we're
here
to
have
a
good
conversation.
D
A
B
Yeah,
that
was
great
yeah.
Thank
you
for
inviting
us
and
been
long
time.
Friends
with
with
this
so
great
to
see
him
here.
This
is
our
first
time
joining.
This
call
so
great
too
great
to
meet
everyone
yeah,
so
we're
very
interested
at
origin.
In
working
with
the
maker
team,
we
actually
have
a
long
history
of
of
working,
collaborating
with
maker,
from
with
our
first
decentralized
Marketplace
that
we
launched
we
had
thy
was
the
first.
You
know
the
currency,
we
added
to
our
platform.
B
We've
done
some
marketplaces
with
makers.
Well,
some
some
cool
marketing
efforts.
Over
the
years
Silver's
we've
had
multiple
initiatives
with
your
team,
but
never
with
the
the
core
protocol
itself,
and
so
in
the
past
we
put
forward
a
map
to
have
ugan
and
USD
added
as
collateral
to
to
maker,
and
the
ogn1
passed
the
initial
green
light
pole,
but
then
sold
out
as
far
as
implementation
we
talked
about.
B
You
know
why
that
happened,
and
then
what
what
really
brought
us
back
in
was
the
conversations
around
coinbase
and
then
increased
interest
in
how
maker
can
be
earning
higher
yields
on
the
the
capital
that
we're
sitting
on,
and
you
know
the
the
discussions
around
moving
those
funds
to
giving
you
know
giving
those
those
funds
to
to
coinbase
really
caught
our
attention
and
we
thought
hey.
We
have
a
decentralized
alternative
that
might
be
better
aligned
with.
B
B
So
that's
that's
kind
of
what
motivates
us
to
be
here
and
talk
more
about
ousd
and
how
it
fits
and
but
yeah,
maybe
I
can
stop
there
and
see
if
anyone
has
anything
to
any
sort
of
immediate
reactions
or
thoughts.
On
the
proposal
we
put
forward
so
Peter
wrote
the
map
87.
B
If
anyone
has
had
a
chance
to
see
that
it
probably
needs
a
little
bit
of
work,
because
we
we
kind
of
put
it
up
blindly
without
getting
feedback
from
the
delegates
ahead
of
time,
which
is
are
bad,
but
that's
why
we're
here
now
to
to
come
and
listen
Mormon
talk?
B
We
really
want
to
gain
insights
into
what's
important
to
Mika
today.
What
are
the
priorities?
How
much
are
you
prioritizing
generating
yield
for
treasury?
How
are
you
thinking
about
onboarding,
new
assets
and
winning
things
like
the
the
cost
of
the
oracles
and
I
know?
There's
been
an
effort
to
off-board
a
lot
of
assets,
and
so
I
want
to
kind
of
understand,
you're
thinking
around
that
and
how
you,
how
you,
how
you
weigh
that
and
then
also
interested
in
you
know
what
you're
doing
with
gelato
and
arrakis.
B
Obviously,
that's
we've
seen
that
drive
a
lot
of
diet
being
printed
and
wondering
if
that's
a
better
path
for
us
to
go
with
this
proposal
as
well.
A
C
Yeah
I
just
want
to
ask
more
about
like
because
we
mentioned
about
the
coinbase
method
and
basically
that
we
have
a
lot
of
ustc
in
the
system
and
then
the
protocol
we
do
want
to
gain
some
yield
from
it.
But
I
think
that
the
reason
why
we've
been
kind
of
leaning
toward,
for
example,
using
coinbase
or
looking
at
your
treasury,
is
because
the
yields
on
U.S
treasury
right
now
is
quite
high.
And
obviously
there
was
a
lot
of
discussion
about
okay.
C
Why
don't
we
just
put
an
important
for
other
or
like
compound
or
others,
and
then
the
truth
is
that
right
now,
in
D5,
secure
yield
is
very,
very
low,
as
you
can
imagine,
I
believe
that
it's
probably
less
than
two
percent,
maybe
one
percent
right
so
for
I-
mean
I-
have
to
look
into
more
who
used
to
Ill
right
now
but
like
what's
the
yield
right
now
and
then,
if
the
yield
is
high,
like
what's
kind
of
keeping
it
high
like.
C
Is
there
like
some
protocols
that
you
guys
are
going
to
risk
or
what's
the
mechanism
I
will
be
curious
to
hear
it.
B
So
so
that's
where
it
is
right
now,
obviously,
yields
in
divide
are
lower
and
we're.
You
know
we're
largely
been
the
mercy
of
macro
as
far
as
what
was
was
able
to
add
out
to.
There
are
multiple
reasons
why
ousd
will
will
always
return
a
higher
yield
than
what
you
would
get
putting
funds
directly
into?
Are
they
compound
or
curve
which
are
the
underlying
strategies?
B
And
so
there's
multiple
components
equal
to
one
is
just
that
the
you
know
for
protocol
is
chasing
the
yield,
so,
as
yields
move
around
from
one
place
to
another,
it'll
it'll
try
and
chase
them
and
optimize
it
there.
But
have
you
ever
reason
we
have
higher
yields
is
because
of
a
design
decision.
We
made
to
turn
off
for
really
basing
on
Smart
contracts.
So
all
you
see
is
this
you're
wearing
stablecoin.
B
It
deploys
UCC,
die
and
Teva
into
these
strategies,
compound
Lobby
and
curve,
but
some
other
ones
on
the
way
and
then
those
those
funds
as
they
annealed
if
OUC
rebases
and
creates
more
units
of
ousd
in
your
wallet.
So
it's
kind
of
the
most
convenient
way
to
participate
in
in
D5.
B
Now
that
rebasing
component
actually
broke
things
like
uni,
swap
because
they're
expecting
a
certain
amount
of
tokens
on
either
side
of
the
pool,
and
when
that,
when
that
changes
unexpectedly,
the
whole
thing
breaks,
and
so
our
solution
to
to
fixing
out
was
we
just
turned
off
the
rebasing
part
of
ousd
when
it's
being
held
on
a
smart
contract.
B
However,
it's
still
and
always
100
backed
Bibles
underlying
stables,
and
so
what
happens
is
we
have
all
this
Capital
was
sitting
on?
You
know
uni
swap
on
curve
and
all
these
other
smart
contracts,
that's
not
earning
yields,
but
that
acts
as
a
boost
for
everyone
else,
and
so
you
get
this.
B
This
boost
factor
that
you
have
more
Capital
being
put
to
work,
but
only
the
people
are
holding
it
in
an
eoa
or
have
opted
into
the
yields
are
actually
receiving
that
yield,
and
so
the
smart
contracts
are
just
you
know
right,
they're
holding
stablecoin
just
like
you
know,
uscc
or
die
where
it's
just
worth
a
dollar
and
that's
it,
and
so
that
actually
benefits
the
the
other
holders
of
all
your
USD
significantly.
C
C
Obviously
it's
up
to
the
protocol
to
decide,
but
you
can
imagine
that
right
now,
the
because
the
like,
yes
is
still
kind
of
I,
would
say
maybe
higher
than
the
Ave,
but
still
it's
lower
than
U.S
treasury.
So
it's
the
question
about
okay.
B
Yeah
this
was
a
while
ago,
and
so
it
got
it
got
out
through
the
green
light
pole,
but
then
you
know
stalled
out,
and
this
was
for
hold.
You
know
for
adding
ogn
versus
R
our
governance
token,
and
so
you
know
we
can
set
that
aside
for
right
now,
I
think
probably
more
top
of
mind
for
us
as
how
we
integrate
ousd
and
and
there's
sort
of
two
two
different
ways.
We
could
approach
it
and
I'd
love
to
get
Adele
gets
views
on
like
which
one
is.
B
Is
you
know
more
compelling
more
interesting?
First,
one
would
be
the
treasury
angle,
which
is
kind
of
how
we
roll
up
our
map
of
hey.
You
guys
want
to
increase,
yield
right
now,
you're
I'm,
talking
about
giving
it
to
a
centralized
counterparty.
B
That's
not
very
in
line
with
the
ethos
of
decentralized
Innovation.
What
we're
all
trying
to
accomplish
here!
You
have
to
be
able
to
hire
right
now,
but
you're,
taking
on
different
kind
of
kind
of
party
risk.
You
lose
some
of
the
transparency
on
where
those
funds
are
and
being
able
to
audit
it
on
chain
and
see
exactly
what's
going
on,
and
you
know,
maybe
we
can
have
a
you
know,
go
after
being
with
decentralized
alternative
for
generating
views,
or
we
could
take
a
focus
more
on.
B
How
do
we
do
something
more
like
gelato
and
Iraqis,
where
we're
creating
that
that
Loop
right
where
people
can
participate
and
use
all
USD
to
Mint,
die
and
then
from
there
people
can.
B
C
I
said
I
think
they're
regarding
this.
Maybe
Robert
can
give
more
an
idea
regarding
it
because
it
is
related
to
a
collateral
embroidery.
That's
all,
although
I
am
kind
of
curious
about
the
liquidity
there,
and
but
we
do
have
I
think
that
some
of
the
protocols
they
approach
and
talk
about,
like
especially
For
Less
liquid
one
their
offer,
is,
for
example,
using
their
treasury
or
like
something
bigger
like
to
basically
Kickstart
the
usage,
although
we
sometimes
do
get
backsteps
or
not
used.
B
Yeah
I
can
so
there's,
basically,
two
different
approaches
for
considering
and
how
to
come
out
as
one
is
using
ousd
are
yield
bearing
stablecoin
as
a
way
to
generate
yield
for
maker,
but
in
a
decentralized
way,
so
you
think
of
it
as
a
competitor
to
the
coinbase
proposal.
Instead
of
putting
moving
These
funds
into
a
centralized
counterparty,
why
don't
you
keep
it
all
on
chain
with
you'll
bring
stablecoin?
Everyone
can
see
it
on
chain
audit.
B
It
knows
exactly
how
video
it's
being
generated
and
then
the
other
approach
would
be
coming
at
it
more
from
using
OSD
as
collateral
fermenting
dye,
and
this
is
similar
to
what
you've
already
done
with
gelato
and
Iraqis,
where
you're
taking
their
LP
tokens
as
collateral
for
for
maintaining
dye,
and
this
drove
I,
don't
I
think
maybe
600
million.
It
was
a
lot
higher
before,
but
last
I
looked
just
down
to.
B
Maybe
600
million
have
been
been
minted
using
this
approach,
and
so
that
allows
you
know,
people
to
men
die,
take
the
lp
tokens
and
then
more
dying.
They
can
Loop
that
around
for
extra
yield,
and
that
has
a
couple
positive
effects
for
maker.
Obviously
it
generates
more
fees,
creates
more
dye,
but
it
importantly
creates
more
liquidity
for
uscc
and
dye
pairs
so
that
people
can
for
for
stability
and
contributing
and
all
that.
E
Yeah,
thank
thanks
for
that.
So
it's
a
little
complicated
because
some
of
the
in-game
mips,
but
let
me
talk
about
about
the
current
state
so
when,
when
a
collateral
application
comes
in,
typically
they
don't
come
in
as
a
MIP,
but
we've
had
a
we've.
Had
a
a
series
of
mips
come
in
related
to
Collateral,
we
try
to
assess
the
type
of
underlying
collateral
and
what
you'll
find
is
that
I
think
you
would
more
classify
this
particular
application
as
decentralized
and
there's
a
pretty
different
process.
E
Sometimes
it's
related,
sometimes
not
when
we
deal
with
what
we
term
a
real
world
asset
which
is
typically
backed
by
something
off
chain,
and
so
as
part
of
the
onboarding
process.
There's
a
group
of
collateral
stakeholders,
of
which
we
are
one
collateral,
Imaging
Services.
We
also
facilitate
the
process
to
of
this
cross-functional
team
maker,
and
each
group
will
provide
assessments
and
feedback.
So,
for
example,
we
have
a
risk
team
that
I
don't
see
represented
on
this
call.
E
That
would
be
a
key
element
of
providing
an
assessment,
and
if
there
were
multiple
approaches,
they
would
be
able
to
give
feedback
on
which
one
might
be
more
appropriate
and
then
what
we
do
is
from
an
engineering
perspective.
You
know
we
have
an
assessment
on
from
a
technical
perspective.
Is
there
an
increased
risk
of
doing
one
implementation
over
another
a
lot
of
times?
E
We
just
need
to
understand
the
money
flows,
to
figure
out
what
technology
makes
sense,
if
there's
any
technology
At
All
by
the
way
right
so
so
and
typically
there's
something
there
then
there's
the
Oracle
side
of
things
that
that
may
or
may
not
be
involved.
So
it's
really
a
collective
answer
to
your
question
and
the
reason
why
I
spent
the
time
to
to
kind
of
put
that
out
there
is
because
I
just
wanted
you
to
know
that
it's
it's,
unfortunately,
not
as
straightforward
as
as
getting
a
like.
Oh
it's.
It's
option
A
over
B.
E
B
Sure
that
that
that's
helpful
and
I
do
understand.
I
do
understand.
There's
you
know
multiple
things.
You
have
to
wait
on
risk
and
reward
right.
What's
the
complexity
of
a
smart
contracts,
what's
the
risk
you're
taking
on?
What's
the
kind
of
party
risk
what's
the
yield
we
can
earn
and
so
I
get?
But
it's
a
very
complex
formula.
There.
B
D
B
Have
have
a
beer
on
this
on
what's
sort
of
a
higher
priority
for
for
maker,
or
maybe
even
just
like,
broadly
speaking
like
what?
How
would
you
rank
sort
of
makers
top
priorities
as
an
organization
right
now?
What
you
care
about
the
most.
F
Yeah
so
I
think
for
3F
delegate.
It
comes
boils
down
to
obviously
putting
some
of
that
money
to
work
right,
because
no
company
in
their
right
mind
would
have
three
billion
sitting
in
cash.
No
human
being
should
also
have
any
cash
but
anyway.
So
if
I
understand
correctly,
your
stable
coin
is
backed
by
three
stable
coins
and
it's
also
a
fractional
algo
stable
coin.
F
It's
not
okay!
It's.
F
Do
you
walk
us
through
why
there
hasn't
been
much
traction,
I
mean
I,
think
you
have
about
40
million
outstanding
and
also
what
happened
with
with
the
yield
that
used
to
I'm,
not
sure
if
it's
still
active
there
used
to
be
sort
of
like
a
DSR,
a
die
savings
rate
I
believe
there
was
a
ousd
savings
rate.
Also
I,
don't
know
what
you
guys
call
it.
But
can
you
walk
us
through
what
happened?
I
know
there
was
a
hack
back
in
November
2020.
F
If
my
mind
serves
me
right
and-
and
you
took
a
loss
there.
So
if
you
could
just
walk
us
through
all
that
and
what's
the
downside.
B
Yeah
yeah
great
great
questions,
so
I
think
I'll
start
with
a
hack
first
and
go
for
a
little
chronologically
so
yeah
when
we
first
launched
ousd
it
was
you
know
we
we
had
a
demo
dap
up
and
we
had
a
big
warning
across
the
top
saying
these
contracts
haven't
been
audited,
be
prepared.
You
might
lose
all
your
money
because
you
know
it
takes
it
takes
so
long
to
get
on
Auditor's
calendars
that
we
had
a
an
audit
queued
up.
B
If
anyone
actually
found
it
useful
to
have
a
rebasing,
stable
coin
that
automatically
delivered
yields,
and
so
we
we
put
the
contracts
up
there
and
unfortunately
we
we
had
a
re-entracy
bug,
just
one
line
of
code
that
we
we
missed
in
a
internal
code
review
and
we
were
hacked
for
seven
million
dollars
and
the
company
you
know,
made
everyone
a
whole
out
of
the
treasury.
So
all
of
the
original
holders
of
ousd
were
very
happy
and
I've
largely
stuck
with
us
from
that.
B
More
importantly,
that
it,
it
was
a
very
sobering
and
important
lesson
for
us,
because
we
started
to
take
security
a
lot
more
seriously
and
we
completely
changed
our
processes
and
internal
process
of
how
we
do
coach
reviews
checklists.
B
How
we
have
you
know
multiple
Auditors
that
look
at
every
single
change
we
make
and
we're
in
a
much
better
place
today.
I
just
noticed
we're
I
was
looking
at
Insurance
the
decentralized
insurance
protocol.
We're
only
we're
one
of
only
six
protocols
that
have
a
triple
A
rating
on
on
their
platform,
and
that's
you
know:
we've.
We
have
audits
from
solidified
Satora
trail
of
bits,
open,
zap,
link,
We've,
we've
retained
open
Zeppelin
on
a
annual
basis,
so
they're
reviewing
everything
every
month
with
us.
B
So
we're
you
know
we're
very
committed
to
security
and
I.
Think
we've
come
a
really
long
way
to
to
making
sure
that
what
happened
in
the
early
days
will
never
happen
again,
so
that
that's
kind
of
what
happened
there.
As
far
as
how
you
think
about
risk,
I
mean
a
lot
of
you
can
think
of
as
a
basket
of
LP
tokens.
B
Four
and
some
of
them
are
for
LP
tokens
that
may
appear
already
accept
on
your
platform
as
collateral
so
and
we're
only
in
the
safest
protocols
there
compound.
Are
they
curve
where
I
think
most
people
in
Industry
have
a
decent
handle
on
wherever
the
risks
lie
where,
if
those
protocols
billions
of
dollars
of
assets
have
been
in
there,
and
so
we
can
feel
pretty
confident
about
about
that.
B
B
There
I
think
we're
less
than
one
percent
to
date,
so
that
is
whatever
risk
is
very,
very
minimal,
but
it
is
you
know
at
this
point:
it's
still
accepted
if
someone
deposits,
whatever
it,
will
be
deployed
and
put
to
work
until
you
know,
strategies
come
and
rebalance
that
the
so
that
that's
it
from
from
a
security
standpoint.
B
We
are
very
interested
in
driving
adoption.
We
did
a
liquidity,
mining
Campaign,
which
helped
increase
the
amount
of
USD
that
was
in
circulation.
B
The
timing
was
was
pretty
unfortunate
with
anchor
and
UST
as
the
yields
there
were.
You
know
beating
out
what
what
ousd
could
offer
and
we
weren't
willing
to.
You
know
Implement
anchor
like
strategies
in
or
USC.
We
thought
it
was
destined
to
to
explode
and
unfortunately
we
were
right
and
but
that's
that's
largely
what
drove
you
know:
the
decrease
in
TBL,
which
was
300
million
before
and
now
it's
it's
down
at
40,
but
we
are
we're
seeing
that
you
know
expecting
that
scores.
We
continue
to.
B
The
important
thing
to
note
here
is:
it
doesn't
really
matter
how
much
the
capital
is
bringing
because
we're
we're
a
rapper
on
these
other
protocols
like
compound
IV
and
curve,
you
think
of
as
a
convenience
wrapper
to
optimize
the
yield
and
so
you're
not
limited.
It
doesn't
really
impact
the
outcomes
for
maker
as
far
as
how
much
other
capital
is
in
the
pool
since
we're
helping
you
deploy
intervals.
Those
other
pools
that.
F
Makes
sense,
yeah
I
mean
I
got
three
more
questions.
That's
okay,
I.
F
Is
when
is
product
Market
fit
right?
It
seems
to
be
a
lack
of
that
as
a
startup.
How
do
you
plan
on
getting
some
pmf
going?
Second
part
again:
you're
a
startup,
it
sounds
to
me
like
you,
might
be
burning
through
money,
and
you
can
correct
me
if
I'm
wrong,
but
how
do
you
manage
to
stay
alive
with?
How
do
you
earn
any
kind
of
income
as
a
as
a
protocol?
F
F
B
Yeah
yeah
sure
yeah,
so
so
you
know
it
probably
Market
face
is
sort
of
a
hard
thing
to
to
Define,
as
in
in
Treasure
World.
If
you
have
40
million
dollars
of
funds
are
betting
on
your
Pro
12
that'd
be
that'd,
be
you
know
some,
but
there's
at
least
50
40
million
dollars
worth
of
product
Market
fit,
and
we've
seen
up
to
300
million
of
Florida
markets
that
so
there's
definitely
some
people
that
the
series
is
valuable.
B
You
know
what
we
think
about
it
is
all
USD
is
is
something
that
is
just
obviously
better.
As
for
people,
if
you
had
the
choice
to
hold
ousd
and
use
it
as
a
alternative
to
uscc,
why
would
you
ever
choose
to
use
the
stable
coin?
That's
not
earning
your
yield.
B
If
you
could
have
used
one
that
is
earning
you
something,
and
so
the
reason
you
know
that
people
aren't
using
a
USD
as
an
alternative
to
obviously
we're
going
to
stay
is
just
because
it's
not
ubiquitous,
and
so
we
have
a
lot
of
work
to
do
to
get
it
integrated
into
other
platforms,
make
it
easier
for
people
to
acquire
so
we're
spending
all
our
time
on
other
exchange
listings
of
our
Integrations
working
with
other
protocols
and
trying
to
make
it
easy
for
people
to
to
use
ousd
as
a
as
an
alternate
stable
coin,
and
so
we're
continuing
to
to
work
on
that
and
doing
calls
like
this
to
to
try
and
learn
more
on
how
we
can
be
a
better
partner
in
the
space.
B
As
far
as
funding
you
know,
we're
lucky
to
be
very
well
capitalized
and
we've
raised
38
million
dollars
back
in
2017
2018,
and
so
we're
we're
in
a
very
strong
position
as
a
core
team
and
I
have
a
a
strong
treasury,
multiple
years
of
funding.
As
far
as
the
protocol,
the
protocol
is
completely
decentralized.
B
It
takes
10
of
the
yield,
that's
generated
by
ousd,
and
then
it
uses
that
to
buy
back
OGB,
which
is
the
governance
token
for
ousd,
and
then
that's
a
reward
for
the
people
were
staking
so
ousd
uses
be
OGB
model
similar
to
curve
wherever
people
who
are
most
committed
to
the
long
term.
Success
of
a
protocol
are
the
ones
who
get
the
highest
boarding
power
and
then
also
the
highest
rewards,
and
so
the
idea
there
is
that
the
protocol
was
going
to
be
generating
this.
B
This
Revenue
as
the
TDL
grows,
the
rewards
will
increase
and
the
people
who
are
most
involved
in
governing
it
will
be
the
ones
who
are
rewarded
there
as
far
as
the
rapper
and
have
a
strategy
to
go.
You
know
it's
it.
Things
change
around
pretty
rapidly
in
D5
on
where
the
highest
yields
are
we're,
also
seeing
a
move
by
The
Lending
platforms
to
reduce
or
remove
the
reward
tokens
that
they've
been
offering,
and
so
that's
why
you'll
see
like
while
obvious
support
is
the
strategy.
B
It
won't
necessarily
have
funds
deployed
at
all
times,
because
we
can
currently
make
a
higher
yield
on
on
compounds
or
a
curve,
and
so
that's
one
of
the
advantages
of
using
something
like
ousd
is
that
you
don't
have
to
do
that
constant
reallocation
of
funds
yourself,
you
can
trust
the
protocol
and
Australia
I
just
will
take
care
of
that
constant
rebalancing
and
that's
what
gives
you
a
higher
yield
than
you'd
get.
If
you
were
like
saying
hey,
why
don't
we
just
deploy
into
all
theirselves
and
and
and
leave
it
there?
F
Well,
with
regards
to
the
I,
think
you
there's
some
earned,
rewards
there
right,
ogv
I
think
it's
called
is
maker.
Getting
that
in
return.
Is
there
like
any
kind
of
token
that
can
be
earned
here
by
the
protocol
by
maker
down.
B
Well,
the
main
thing
you're
earning
is
the
the
yield,
but
that
shows
up
as
extra
units
of
OSD.
Now
OGB
is
the
governance
token,
and
so
that
is
again.
There's
a
buyback
with
10
of
the
yield
just
generated
by
oecd
goes
to
buy
back
OGB
and
that's
given
as
a
reward
to
the
stickers
of
ogv
and
then
as
a
bootstrapping
mechanism.
There
is,
there
are
OGB
rewards,
and
so
you
can
earn
it
by
buying
and
staking
OGB.
B
You
can
earn
not
only
the
the
your
share
of
the
protocol
fees,
but
also
those
actual
rewards
for
Kevin
and
OGB,
and
we're
certainly
open
to
discussing
ways
to
incentivize
maker
with
OGD.
If
that's
something
that
would
be
helpful
or
interesting
to
you
guys.
F
F
The
the
questions
I
have
there.
If
no
one
else
has
a
question,
I
guess
I
could
follow
up
with
network
effects,
and
how
are
you
thinking
about
getting
that?
Is
this
something
where
you're
going
to
focus
on
that
Marketplace
that
you
guys
have
had
since
I
believe
2019,
similar
to
a
decentralized
eBay
or
you
more
focused
on
scaling,
ousd,
so
kind
of
want
to
get
an
idea
there?
How
you
guys
are
planning
on
growing
your
protocol
with
regards
to
network
effects.
B
Yeah
yeah,
so
it's
it's
funny.
I
mean
you've
been
obviously
following
origin
for
a
while
to
know
about
more
decent
from
my
place.
We're
we're
not
focused
on
that
today
and
that's
why
we
originally
started
with
in
2017
we're
like.
Let's
be
a
decentralized
Uber
or
an
Airbnb,
and
it's
a
platform
for
any
kind
of
marketplace.
B
It's
a
great
idea,
I
think
someone's
going
to
accomplish
it
sometime,
but
there's
so
many
pieces
that
need
to
be
software
to
surround
identity,
scaling
law
privacy
like
there's
a
lot
of
challenges
there
that
we're
not
quite
ready,
and
we
were.
We
don't
think
it's
the
requisite
Technologies
in
place,
trust
in
to
build
that,
and
so
where
we're
focused
today
is
on
ousdm
and
also
our
nft
platform,
and
so
our
NFC
platform
very
separate
product.
B
But
it's
been
used
by
some
of
the
largest
nft
cells
in
the
space
yeah.
It
started
with
blouse
sale.
Last
year
we
did
11.7
million
dollars
and
you
can
look
back,
and
this
is
really
the
moment
that
brought
nfts
into
mainstream
Consciousness
up
till
then,
and
if
these
are
the
only
things
that
people
on
calls
like
this
would
know
about.
But
after
Blau
came
in
and
raised
that
much
money,
you
know
all
the
music
industry
celebrities.
B
All
these
mainstream
people
started
paying
attention
and
then
from
that
that
really
opened
door
for
us
to
do
a
bunch
of
nft
sales,
a
bunch
of
EDM
DJs
like
base
Checkers
and
Cashmere
and
Don
Diablo.
We
were
worked
with
big
Brands
like
SpaceX,
and
we
did
their
nft
sale.
We
did
like
70
000
nfts
in
a
single
drop
and
raised
a
bunch
of
money
for
cancer
research,
and
then
we
like
parasolfing,
so
pretty
pretty
bizarre
from
where
this
this
journey
has
taken
us.
B
But
what
was
the
number
two
focuses
for
us
today?
It's
focusing
on
nfts
and
ousd,
and
really
the
the
what's
behind
both
of
these
is:
how
do
we
actually
enable
Financial
opportunity
for
all?
How
do
we
help
people,
whether
you're
speculating
on
nfts
and
wanting
to
make
money
as
a
nft
flipper
or
if
you
want
to
hold
something
more
more
safe
and
conservative?
And
you
want
to
hold
all
your
SD
in
your
wallet?
B
We
want
to
enable
that
kind
of
financial
option
for
for
everyone
and
just
make
it
really
really
easy
for
for
people
to
come
in
and
participate
in
this
space.
And
so
we
view
ousd
is,
is
really
the
one
of
the
fastest
and
easiest
ways
for
people
to
get
access
to
D5,
and
it
was
inspired
by
our
own
experience.
Your
farming
right,
where
we
take
our
stable
coins,
put
them
in
some
farm
and
you
have
to
come
back
and
harvest
your
rewards,
and
then
you
have
to
swap
was
reward
tokens
into
more
Stables.
B
B
Gas
costs
are
so
high
and
it
really
prohibits
so
many
people
from
being
able
to
participate
and
ousd
is
our
attempt
to
to
open
us
up
and
and
democratize.
It
and
make
these
great
protocols
and
yoga
you
can
generate
available
to
everyone.
F
B
So
so
it
is
rebasing,
but
only
rebases
upwards
and
only
rebases
when
there's
extra
yield
that's
been
accrued,
so
it's
not
like
an
Apple
for
forever
price,
yoyo's
up
or
down
or
or
ohm,
or
anything
like
that.
B
It's
it's
purely
Distributing
that
yield
so
it's
100,
backed
at
all
times
and
when
you
earn
yield
on
combat
Navi
curve,
you
get
extra
units
of
USD
in
your
wallet,
and
so
instead
of
you
know,
instead
of
having
looking
a
wallet
and
seeing
oh
cool
I
have
0.0127
of
this
pool,
you
can
just
look
at
your
wallet
and
go.
B
Oh
cool
I
have,
like
you,
know
a
million
dollars
worth
and
you
can
see
exactly
what
your
balance
is
and
exactly
what
you're
holding
so
it's
much
more
akin
to
like
a
high
yield
savings
account
where
your
balance
is
right
there.
All
you
have
to
do
is
check
your
your
balance
and
you
know
exactly
how
much
money
you
have
and
it's
redeemable
one-to-one
at
any
time.
So
you
have
access
to
the
underlying
stable
coins.
You
can.
You
can
pull
those
out
anytime.
G
Hey
Tim
Tim
black,
just
to
clarify
a
couple
things:
ogn
is
actually
the
governance
token
for
the
nftc
side
of
the
business.
It's
not
related
at
all
to
the
origin
dollar
side.
It's
completely
separate
because
in
the
past,
ogn
was
the
governor's
token
for
both
sides
of
the
business,
and
it
didn't
really
make
sense
to
have
one
governance
token
for
two
completely
separate
products.
G
I
I
believe
the
OG
and
staking
rewards
are
paid
out
at
the
end
of
the
cycle,
which
is
what
three
three
months
Josh.
That's.
B
Yes,
the
staking
token
for
our
nft
platform,
so
we're
working
with
a
lot
of
energy
projects,
and
then
you
can
stake
your
ogn
for
a
percentage
of
the
yield,
that's
generated
on
the
marketplace
fair,
and
so
it's
also
you
know
a
decentralized
protocol
and
super
interesting
if
you're,
if
you're
more
into
nfts
and
interesting
what
we're
building
up
foreign.
D
There's
plenty
of
research
on
that
you
can
poke
around
on
the
Forum
money,
supply
authored,
something
pretty
good
and
then
Arbiter
I
think
from
protocol
Engineering
also
did
something
awesome,
so
you
probably
want
to
check
on
both
of
those
yeah.
The
future
of
nfts
is
definitely
a
really
interesting
applications
wise,
but
it
is
of
course,
Frontier
technology
that
hasn't
really
gotten
there
and
we
all
know
the
flaws.
D
So
looking
at
this
data
page
and
I
see
that
a
lot
of
the
underlying
on
ousds
mostly
just
die.
That
seems
to
be
on
compound
right
now.
So
there's
two
questions
to
this.
First,
one
is:
how
often
does
the
strategy
reallocate
and
then
the
second
one
is
why
you
know
just
the
sort
of
Steel
Man
it
like
why
wouldn't
maker,
just
d3m
into
compounds
like
what's
the
advantage
to
USD
I,
have
a
caveat
to
that.
I
will
be
positive,
I
promise,
but
just
take
those
two
questions.
First,.
B
No,
it's
a
fair
question.
No
I
appreciate
it
yeah,
so
so
the
there's
a
couple
ways
that
it
works
right
now
so
and
a
high
level
of
strategist
to
vote
on
and
this
strategies
are
this
week.
It's
you
know
a
a
multi-sig,
but
it's
we're
turning
that
over
in
you
know
a
very
near
future
next
week
or
two
to
to
the
actual
holders
of
of
OGB.
B
So
it's
going
to
be,
you
know
true
decentralized
governance,
where
the
holders
are
going
to
be
voting
on
these
decisions
and
anyway
they
they
set
sort
of
a
high
level
allocations
on
here's.
How
much
we
want
to
put
into
these
different
strategies
and
protocols,
and
so
there's
a
basket
of
these
different
strategies
to
whether
it's
die
on
compound
that
or
are
they
or
let's
put
on
curve?
And
then
when
funds
are
deposited
or
withdrawn,
it's
going
to
try
and
match
those
percentages
that
are
set.
B
But
then
those
people
can
vote
on
a
more
frequent
basis
and
and
move
stuff
around.
So
it's
a
little
bit
of
a
hybrid
between
you
know
the
protocol
doing
stuff
automatically,
as
well
as
some
humans
that
are
actually
setting
the
direction
based
on
the
current
Market
and
we've
tried
to
make
it
as
decentralized
as
possible.
So
things
like
claiming
rewards
so
say:
we've
earned
a
bunch
of
rewards
on
compound.
We
want
to
claim
it's
the
way
it
works
is
there's
a
an
incentivized
function
caller.
B
So
anyone
enrolled
is
welcome
to
to
call
that
claim.
All
of
the
comp
rewards
swap
them
into
more
dive,
redeploy
them
into
the
pool
again,
but
and
then
they
get
a
one
percent
reward
for
paying
the
gas
costs.
So
you
can
pick
it
as
a
reverse
auction.
Whoever
is
going
to
take
the
lowest
price,
we'll
get
it
the
advantage
of
going
with
ousd
instead
of
just
plowing
funds
directly
into
you
know,
compounding
yourself
again
it's
that
ability
to
to
chase
yields
across
different
protocols.
B
You
know
right
now
it's
on
compound,
but
it
could
very
easily
flip
to
are
they
tomorrow
or
it
could
be
on
on
curve
or
convex,
or
you
know
we're
seeing
a
new
crop
of
D5
protocols
coming
up
things
like
Morpho,
which
we're
currently
implementing
and
we'll
be
turning
on
soon,
which
offers
another
approach
to
lending
where
you're
doing
more
peer
matching
in
case
more
Capital
efficiency
and
higher
yields,
and
so
we're
anticipating
the
yields
on
ousd
are
going
to
be
climbing
considerably.
B
We
also
have
some
new
strategies
on
curving
convex,
where
we're
going
to
be
getting
a
higher
percentage
of
yields
very
distributed
by
curve
and
convex.
So
well,
I,
don't
want
to.
You
know,
make
any
promises
as
far
as
where
the
TV
of
whether
the
apy
is
going
to
be.
You
know
in
the
next
month
or
two.
We
have
good
reason
to
be
it's
going
to
be.
We
have
a
good
reason
to
believe
it's
going
to
be
two
or
three
times
higher
than
what
it's
showing
us
today.
B
So
the
yields
are
are
definitely
looking
up
as
far
as
new
strategies
that
are
currently
in
review
and
audits.
B
Yeah
we're
big
fans
of
more
14
and
working
pretty
closely
with
them.
They've
been
you
know,
putting
forward
proposals
in
our
governance.
B
Forum
they've
been
reviewing
the
code,
and
so
we've
we've
really
enjoyed
working
with
them
on
putting
up
these
new
strategies
and
we're
constantly
looking
for
new
ways
to
you
know:
earn
yields
for
our
holders
while
still
doing
it.
In
a
you
know,
a
Safe
and
Smart
Way.
B
H
Are
there
any
other
questions
we
can
answer
Justin
Mark,
codenite,
Miguel.
F
I,
like
I,
like
that
last
question
on
the
Forum
I,
was
just
looking
at
it
from
lit
from
strategic
Finance
he's
saying:
why
do
we
need
to
put
an
extra
layer
of
Risk
by
going
through
ousd
when
you
know
now
we
have
this
this
this
tool
called
the
DSs
Kiln.
F
You
can
look
it
up
if
you
get
a
chance
on
the
Forum
d-s-s-k-I-l-n
that
too,
although
it
still
needs
to
be
ordered,
I
believe
was
built
by
protocol
engineering,
some
of
the
smartest
people,
in
my
opinion,
when
it
comes
to
decentralized
finance,
the
ecosystem.
Why
not
use
that
something
like
that
as
an
example
that
too,
to
just
go
out
there
and
grab
some
yield
on
behalf
of
the
Dow,
and
then
you
know
avoid
the
extra
layer
risk.
F
So
what
I'm
doing
on
this
talk-
and
hopefully
you
pulled
up
that
last
comment
by
lit
of
strategic
finance,
that
that
would
be
a
it's
actually,
a
very
good
question
right
like
why
take
the
extra
layer
risk,
if
you
think
there
isn't
no
extra
layer
of
risk,
you
know
you
kind
of
kind
of
walk
us
through
that
too
that'd
be
cool.
B
Yeah
no
embarrassed
yeah,
there's,
certainly
a
little
bit
of
extra
risk
that
that
comes
on
from
from
the
smart
contracts
and
I
already
talked
through.
You
know
all
the
things
we're
doing
to
try
and
minimize
that,
from
you
know,
taking
a
very
slow,
methodical,
really
cycle,
having
multiple
senior
Engineers
review,
every
single
code
change
having
you
know,
trailer
bits
and
open,
Zeppelin
and
audit
all
of
our
code
and,
being
very
you
know,
we
have
a
time
lock.
So
nothing,
nothing
goes
live
right
away.
B
It's
everything
is
very
slow
and
careful,
so
we're
doing
everything
we
can
to
to
minimize
that
risk
and
what
you
get
in
exchange
for
that
risk
is,
is
higher
yield
and
so,
particularly
as
we're
adding
these
new
strategies
into
the
mix
you're
able
to
get.
B
You
know
access
to
to
things
like
more
fove
and
the
amount
of
strategies
that
are
coming
on
the
curve
and
so
you're
able
to
to
get
that
that
higher
yield
without
out
having
to
do
the
active
management
yourself,
and
so,
if
you're
participating
in
Avi,
for
example,
you
also
need
to
have
a
whole
process
around
going
and
constantly
claiming
their
rewards
and
and
then
swapping
those
rewards
and
then
restaking
those
rewards
on
Navi.
B
In
particular,
you
have
a
special
calendar
when
you
have
to
you
know,
say
you're
you're,
going
to
claim
your
rewards
and
come
back
and
later
and
actually
do
it
with
the
cooldown
period.
So
not
that
not
say
it
all
that
maker
couldn't
do
this
themselves.
B
I
you,
you
guys,
have
an
incredibly
smart
team
and
are
more
of
a
capable,
but
I
think
the
advantage
here
is
sort
of
a
network
effects
that
Origins
building
the
community
of
people
who
are
going
to
be
watching
the
protocol
investing
in
the
strategies
and
helping
guide
the
protocol
towards
towards
a
higher
yield.
It's
you
know
not
necessarily
the
the
focus
for
maker,
but
it
is
the
thing
that
that
we're.
B
You
know
thinking
about
and
focusing
on
every
single
day
on,
how
do
we
increase
the
yield
while
still
keeping
the
funds
safe
and
so
I
think
over
time
that
the
advantage
of
that
specialization
is
going
to
really
pay
off.
A
All
right,
let
me
just
jump
in
here
for
a
second,
so
I
do
have
to
hop
off
for
another
call,
so
I'm
going
to
stop
the
recording
here,
but
the
call
can
go
on
so
yeah.
Thank
you
guys
on
YouTube
for
watching
and
thank
you
for
the
people
present
for
this
awesome.
Conversation
I
certainly
learned
a
lot,
even
though
I
was
only
half
listening,
but
anyway,
yeah
cool.
Thank
you.