MakerDAO Maker Relay, 26 Jan 2021

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From YouTube: Voices of MKR Relay Ep. 29

Description

Forum: https://forum.makerdao.com

Rocket.Chat: https://chat.makerdao.com

Voting Portal: https://Vote.MakerDAO.com

Maker Relay (written version): https://forum.makerdao.com/t/maker-relay-ep-29/6214

Learn more about the Maker protocol: https://docs.makerdao.com

Check our Governance Tools Resource: https://community-development.makerdao.com/governance/governance-tools

Disclaimer: This update is assembled by a group of contributing members in the MakerDAO community. This does and should not serve as financial advice or an inducement to vote in any specific way. This update is purely for informative and for communications purposes exclusively.

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Down hey everyone thanks for checking out maker relay today is january, 25th 2021, and this is your one: stop shop for updates on the maker dow ecosystem.

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At the time of recording, the only executive vote is for the january governance, mips bundle. This vote includes mip 29 for the peg stability module, mip 30 for crop, join the farmable cusdc adapter, a declaration of intent for the governance, communications domain and mips to onboard sebastian darvo to the risk domain, sam mcpherson to the smart contracts team and one to the operational support domain.

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Next up, we have governance proposals for the week this week. There's one poll proposing the addition of the new silver drop token as a collateral type. This would come with a three and a half percent stability fee. 105 collateralization ratio and a 5 million die debt ceiling.

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Next up, we've got community green light poles, the community green greenlight polls close on february 1st at 1600 utc, and we currently have 10 still up from last week. These include renviem, wrapped file coin lido, dow staked ether, people's company drop token x, die stake, token, wrapped file coin, balancer, pull tokens for the rap bitcoin ether pool and uniswap lp tokens for pairs involving die and rap bitcoin, usdc, usdt and yfi.

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Last week in governance, the community posted its first ever community created executive votes. This marks two important milestones in maker dow's march, toward progressive decentralization, both in the submission of the first community created executive vote and having the vault compensation working group paid out by the dow rather than the foundation. So congratulations to everyone involved with that.

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This vote passed on the 25th of january. It includes a number of changes.

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The maker protocol now includes vaults, accepting lp tokens from the uniswap v2 usdc ether pools and the uniswap v2 rap bitcoin ether, vault, link mana and the psm usdc debt ceilings have increased and the bat tusd and global system debt ceilings have decreased dust parameters, have increased from 500 to 2000, die on existing vault types, meaning that the minimum amount of dye minted from collateral provided to those vaults must be higher than 2000 die.

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Instadap will be white listed on the eth, usd oracle, security, module oracle and, finally, dye is being paid to the vault compensation working group for their efforts to compensate fault owners affected by the black tuesday event. Last february.

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Next, up we've got the most recent signal requests. There are often new signal requests, so please check the forum for the most recent requests. There are three to discuss this week, which include a request to raise the debt ceiling on the ether a vault. Since the last vote raised, the ceiling to 1 billion, almost 65 million more die have been created using etha's collateral.

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So this signal is asking to raise it once again.

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There is a request to create a new vault type for the ethereum, with a higher liquidation ratio, which would offer lower stability fees for people who want to remain highly over collateralized.

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Last up. We have a signal for an interim dow budget. Next up we have this week's maker improvement proposals. These mips are in the request for comments phase. So please head to the forum to provide your feedback. There are 11 proposals in the request for comments phase. So buckle up, mip 26 is the governance contract redesign, which defines dss gov a contract replacement for ds. Chief dst facilitates voting on the current state of the maker protocol, and the proposed redesign is said to come with improved security, usability and functionality.

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Mip 31 proposes the creation of an automated market maker to fund an active reserve of liquidity to cover die owners in case of an emergency, rather than drawing an active reserve from the surplus buffer mip 32 for the peg stability module for compound mixed exposure would provide an extension to the psm that allows maker governance to convert usdc and cusdc for die and c die. To help maintain dye's peg with the us dollar.

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Mip 34 would create the keg streaming payments module. The keg is a tool for streaming dye to a preset group of addresses from the surplus surplus buffer to cover costs accrued by the dow mib 37 defines the static reserve for governance.

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This mip defines a static reserve which can receive tokens from anyone and allows maker governance to withdraw them. Mip 38 covers the dow primitive state. Dow primitive state defines the core units budgets and facilitators within the dao. This mip has a few mips and sub proposals that follow in order to create a full framework.

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So those include mip 39, which refers to the core unit framework for managing and modifying the core units outlined in the previous mip mip 40 covers the budget framework.

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uh This is basically a framework for managing and modifying budgets.

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Mip 41 provides a framework uh for managing facilitators.

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Mip 42 provides a compensation addendum for maker, dow contributors proposing to pay them partially in time locked mkr. Finally, we have mip 43 the term lending module which proposes an integration with yield protocol.

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We have four sub sub proposals in the request for commons phase, which include a proposal to onboard a new collateral type backed by b protocol.

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This proposes an experiment for a native integration between b protocol and maker dow, which would on board a new vault type for wrapped bitcoin or ether with a lower collateralization ratio.

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There's a proposal to make amendments to mip 0 that would make it compatible with the new domain framework defined in mips 38 to 41. This proposal would take away the ability to remove the ability to onboard core personnel from it 0 and instead replace that with mip-38.

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There's a proposal to edit mip 5 to make it compatible with the new core operating unit model. The main change there being to the governance facilitator emergency vote process which directly deals with onboarding and off-boarding facilitators and there's an amendment to edit mip 16 to make it compatible with the core operating unit.

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Model next up, we have updates from the domain teams the smart contracts domain team has been engaging with smart contract auditors for the liquidations, 2.0 module squash and bugs in the meantime, and working on code for mip 21 to accept real-world assets as collateral in the maker protocol.

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The team also helped with the community executive executive last week, led by sam, which passed congratulations.

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The risk domain team has published an evaluation for mip 30, the farmables usdc adapter, which is now available in the forum. The team has been looking into risk parameters for the lp tokens being proposed by the community for use as collateral, and finally, the risk team has been evaluating the instant access module for debt ceilings on all vaults, the current assumption being that it would not be good for use in conjunction with the peg stability module.

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The oracle's. The main team is working with audit firm abdk for an audit of the unit swap token lp oracles. That is expected to be complete at the end of february. The oracle's assessment assessment of centrifuge has gone, live in the forum and there's currently a governance poll to vote on there.

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The oracle's team is also working on a mit to modify the process for white listing oracles. In light of the fact that the team has never rejected a white listing proposal and the current process provides unnecessary permissions to the oracle's team.

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Last up to cover is the state of the peg. Dyes had no trouble maintaining its peg recently, and there are now over one and a half billion die in circulation, over 900 million of which are backed by ethereum.

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That's all for this edition of maker relay. Please post in the forum, take our survey or join us in the community development chat channel to let us know if there's anything else, you'd like to see check out the links in the description for more information and thanks for.

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