►
From YouTube: MakerDAO | 2021 Recap
Description
Full call: https://youtu.be/g3BVhDc_dK0
Written version: https://forum.makerdao.com/t/maker-governance-review-2021/12478
A
A
You
know
we
increased
our
revenues
by
20-fold
since
2020,
but
really
we
progressed
so
much
more
than
that,
and-
and
this
is
an
attempt
to
capture
most
of
it,
I
think
something
that
I
actually
missed
in
the
recap
is
kind
of
all
the
core
units
that
we've
onboarded
so
before
I
start
on
the
on
the
first
official
slide.
After
this
this
one
yeah
we've
onboarded
18
different
core
units
this
year,
which
is
absolutely
herculean,
so
yeah,
let's
get
started
so
q1
2021
was
pivotal.
A
We
also
had,
with
the
dissolution
of
the
foundation
the
sunset
of
the
development
grants
program
and
in
its
place
this
year,
we've
seen
a
number
of
different
tools
for
doing
grants
through
maker,
not
through
the
foundation.
So
we've
seen
the
special
purpose
fund
nip
come
about
we've
seen
ses
the
core
unit
that
does
incubations
and
various
grants
come
about.
A
We've
also
seen
various
core
units
doing
their
own
micro
grants
and
granting
programs,
so
thankfully
maker
is
still
really
healthy.
On
the
grand
side,
starting
in
q2,
we
saw
our
first
major
technical
upgrade
with
the
release
of
liquidations
2.0
and
by
the
way
this
is
not
complete
complete
because
there
were
a
lot
of
smaller
kind
of
technical
upgrades
and
things
that
happened
so
yeah,
so
release
of
liquidations
2.0
is
kind
of
like
a
really
big
one,
really
big
milestone
for
two
for
q2,
then,
as
also
continuing
in
their
dissolution
process.
A
This
greatly
sort
of
simplified
things
and
and
made
governance
overhead
a
little
bit
more
user
friendly
for
members
of
the
dow
and
voters,
thankfully,
also
had
another
large
product
launching
in
the
form
of
the
flash
mint
module
implementation
which
unfortunately
doesn't
get
used
too
much.
But
it
was
a.
It
was
really
cool
that
came
out.
A
A
We
also
had
the
very
first
real
world
assets
onboarding
through
the
tin
lake,
a
centrifuge
and
also
the
success
vault
facilities
and,
of
course,
it's
a
walk
or
sorry.
Crawl
walk
run
for
everybody,
so
it's
been
nice
to
see
that
we're
making
progress
and
yeah
we've
also
seen
governance
launch
vote
delegation
in
response
to
kind
of
concerns
about
passing
executive
votes
and
not
having
a
dedicated
voting
and
discussion
team
around
various
issues
and
topics,
and
so
this
has
greatly
improved
our
throughput
in
governance.
A
A
Additionally,
in
q3
we
launched
our
first
official
dye
token
bridge
for
an
l2
for
the
arbitrary
l2
chain,
so
that
was
really
exciting
and
and
yeah
and
then
moving
into
q4
as
a
result
of
like
a
lot
of
governance,
action
and
concern
of
the
over
concentration
of
usdc
back
die.
Governance
took
a
number
of
steps
to
try
to
reduce
that
including
onboarding
new
psms.
A
You
know
factoring
in
momska
the
open,
open
market,
the
the
group
that
sets
rates
or
proposes
rates,
rather
did
so
through
monetary
policy
trying
to
make
generating
diet
from
non-stables
a
bit
more
attractive,
etc
and,
as
a
result,
yeah
maker,
open
market
committee.
Thank
you
long
and,
as
a
result,
usd's
collateralization
fell
below
26
from
its
high
of
I
think
55.
A
A
Also
in
q4,
we
had
a
two-year
anniversary
of
the
launch
of
multi-collateral
die.
I
remember
that,
like
it
was
yesterday,
I
can't
believe
it's
been
two
years.
I
feel
like
waiting
for
multi-collateral
die.
It
was
like
a
10-year
wait
that
was
packaged
into
three
years,
but
nevertheless
we're
two
years
in
and
we're
still
going
and
we're
strong
and
we're
and
we're
growing.
So
it's
exciting.
A
Another
pivotal
thing
we
saw
in
q4
is
an
an
infusion
of
vision
by
the
one
of
the
co-founders
of
maker.
Dao
originally
roon
christensen.
He
published
the
case
for
clean
money
advocating
for
a
whole
different
class
of
collateral
that
should
be
prioritized
mainly
esg
collateral
collateral.
That
is
positive
for
environmental
impact
around
the
world.
A
It's
it's
also
a
subset
of
real
world
assets
and
likewise,
a
part
of
his
vision
included
a
redesign
of
mkr
tokenomics
and
really
he
proposed
many
interesting
ideas
that
I
believe
many
of
us
are
still
chewing
on,
and
thinking
on
and
and
and
eventually,
hopefully,
we'll
implement
in
a
in
an
ideal
sort
of
way,
and
I
believe
roon
is
actually
gearing
up
to
post
a
refined
version
of
this
version.
Sometime
this
year.
A
You
know
centralized
sort
of
company
bootstrapping
maker
to
being
a
independently
funded
core
unit
amongst
many
at
a
dow,
and
so
this
transition
from
like
centralized
company
to
decentralized
organization
is,
is
a
really
really
really
interesting
story,
and
I
it
resonates
with
me-
and
I
think
it
resonates
with
many
other
core
unit
facilitators,
and
so
we
are
really
on
the
bleeding
edge
here.
So
a
huge
pat
on
the
back
for
people
that
are
engaging
and
really
making
a
career
out
of
their
involvement
here
at
maker.
A
A
I
think
this
number
is
might
be
underrepresented.
I
think
it's
because
a
few
of
them
were
onboarded
in
late
2020,
but
I
might
my
timeline.
Brain
is,
is
not
perfect
right
now,
so
at
least
15
quarter
units
onboarded
within
the
year
of
2021,
with
with
actually
a
total
of,
I
believe,
18
or
19
right
now,
I'll
get
the
exact
numbers
for
the
next
call.
A
Manner
we
also
had
a
unified
auctions,
ui
release
a
brand
new
auction
ui
for
just
regular
non-technical
folks,
which
is
really
great
and
yeah
amongst
other
things.
So
if
I
did
miss
anything
like
major,
please
dm
me
we
we
did
try
to
cover
most
of
everything
all
right.
So,
let's
move
on
to
the
next
part
of
the
segment.
A
So
here's
some
interesting
governance,
metrics
that
we
pulled
and
if
you're
interested
in
where
we
pulled
them
from
you,
could
actually
go
into
the
presentation
which
is
linked
in
the
forum
agenda
for
this
call
and
you
can
just
go
to
the
slide
and
click
on
those
links
below
there's
they're
really
great.
The
voting
portal
itself
is
really
great
and
also
the
the
beta.mcdgo.info
site
by
tokenflow
guys
are,
is
really
great.
A
We
had
307
governance
polls,
I'm
not
going
to
go
through
all
of
the
different
types
of
governance
polls,
but,
as
you
can
see,
some
of
the
major
ones
we
had
122
different
ones
related
to
collateral.
We
had
74
different
ones
related
to
mips,
24
related
to
governance,
18
related
to
risk
parameters,
I.e
variables
and
many
others.
A
Another
interesting
thing
is
the
first
poll
of
2021
passed
was
around
67
000
ish
maker,
with
25,
unique
voters
and
the
very
final
one
passed
with
around
80
000,
but
about
half
as
many
or
a
little
bit
more
than
half
as
many
unique
voters
17.-
and
this
is,
I
believe,
a
result
of
not
only
increased
gas
costs
which
deter
a
lot
of
the
smaller
voters
from
voting
in
every
single
vote.
But
also
this
was
affected
by
the
introduction
of
the
delegate,
the
delegates
right.
A
A
A
As
for
delegation
metrics,
we
have.
We
have
had
nine
recognized
delegates
introduced
in
2021,
with
almost
80
000
mkr
delegated,
all
of
whom
meet
the
performance
requirements
naturally,
because
if
they
didn't,
they
just
wouldn't
be
able
to
be
recognized
delegates
officially,
then
we
have
nine
shadow
delegates
with
about
21
000
mkr
delegated.
A
If
one
of
them
wanted
to
be
a
recognized
delegate,
they
probably
could
because
they
meet
the
performance
requirements,
but
three
somewhat
meet
them
and
five
don't
need
them
at
all.
So
there
is
a
there's,
obviously
yeah,
just
the
differences
in
people's
voting
behavior.
Some
people
are
extremely
consistent.
Others
might
vote
on
just
the
things
that
they're
most
interested
in.
A
A
A
As
for
collateral
management,
we
have
parallel
tracks
for
collateral
management
on
chain
and
off
chain
and
so
off
chain
referring
to
real
world
assets.
Of
course,
they
have
a
whole
different
set
of
requirements
and
complexities
that
on-chain
collateral
management
doesn't,
and
so
that's
why
they're
separated,
but
the
various
things
that
are
a
focus
are
improved
stakeholder
alignment
and
coordination
around
these
initiatives,
optimizations
around
collateral
management
and
cross-team
work
for
real
world
assets,
a
revamping
of
the
collateral
prioritization
framework,
improved
partnership
practices
as
well
as
progressing
the
real-world
acid
deals,
frameworks
and
processes.
A
For
technical
upgrades
there's
a
number
of
different
focuses:
we've
identified
this
year.
There
is
a
looming
governance
contract
redesign.
Many
of
you
know
it
as
the
sagittarius
engine
and,
of
course,
the
details
of
which
are
still
being
discussed
and
figured
out
it's
accompanied
by
an
mkr
tokenomics
redesign.
A
We
also
have
deco
fixed
rate,
vaults
you're,
going
to
hear
a
presentation
from
vamp
c
right
after
me
on
that
we
have
various
module
enhancements
and
integrations
from
the
pe
team.
I
highly
recommend
going
and
reading
their
core
unit
update
in
the
forum.
They
list
out
all
the
specifics
there.
It
was
too
much
to
add
to
the
slide
deck.
So
I
didn't.
A
We
have
various
technical
upgrades
for
auction
keepers,
infrastructure
and
ui,
including
liquidations
2.0
for
flap
auctions
yeah.
We
also
have
a
number
of
safety
and
tooling
and
upgrades
in
in
the
pipeline
as
well
as
something
that
the
pe
team
has
been
teasing
us
all
about
internally
is
nfc,
is
collateral.
There's
gonna
be
some
interesting
proposal
or
proposals
coming
up
around
that.
A
Various
organizational
improvements
are
also
on
the
horizon.
We
are
a
a
you
know,
a
protocol,
very
technical,
but,
of
course,
we're
also
an
organization
there's
people
here
and
there's
teams
here,
and
we
all
work
together
to
try
to
achieve
our
milestones
and
goals,
and
so
some
of
the
different
focuses
on
this
front
are
optimizing
and
streamlining
protocol
operations,
both
from
a
governance
perspective
and
from
a
you
know,
a
cross-team
working
relationship
perspective.
A
A
We
have
improved
financial
reporting
thanks
to
ace
in
the
works.
We
have
initiative
map,
we
have
initiative
mapping
in
the
works.
We
have
stakeholder
alignment
calls
in
the
works
and
we
have
a
general
focus
on
just
improved
stakeholder
communications
overall
in
the
works,
that's
right
and
so
for
growth.
Another
major
initiative
at
maker
we
have
a
number
of
different
focuses,
improved
partner
relations,
institutional
vaults
and
how
to
streamline
those
types
of
deals.
A
Additional
psms
and
d3ms
more
grants,
improved
message,
propagation,
ie,
marketing
and
just
talking
about
how
what
we're
doing,
because
there's
a
lot
continued
partnership,
development
of
course,
and
more
core
unit
incubations,
thanks
to
scs,
continuing
to
focus
on
how
we
could
scale
maker
to
be
what
it
needs
to
be
for
security,
yet
another
really
important
initiative
at
maker
thanks
to
unified
security
and
also
the
tech,
ops
and
the
security-mindedness
of
the
various
sec
technical
teams.
Here
at
maker,
we
have
operational
security
and
bug
bounty
mips
in
the
works.
A
A
A
We
also
have
various
number
of
user
interfaces
at
maker,
with
a
number
of
different
teams
focusing
on
improving
them
and
developing
them.
First,
we
have
content
productions,
team
working
on
community
portal,
2.0,
also
known
as
maker
down.world
yeah.
We
have
auction
uis
being
developed
by
the
new
sas
team
sidestream
auction
services.
A
A
Basically,
we
have
a
singaporean
jurisdiction
study
for
being
able
to
source
real-world
asset
deals
from
singapore,
and
we
also
have
real
dao,
which
focuses
on
the
centralized
spd
infrastructure
in
the
works,
and
I
think
one
thing
I
might
have
forgotten
about
for
growth
is
yeah
more
more
videos
from
content
production
on
tutorials
how
to
interact
with
us
how
to
vote.
How
to?
Basically,
you
know
how
do
we
educate
our
would-be
stakeholders
to
come
into
maker
down
and
really
participate
and
yeah?
I
hope
I
didn't
spend
too
much
time.
A
It
was
only
like
40
slides,
but
yeah.
We
ran
through
it
pretty
quick,
so
so
yeah
thanks
for
listening.
I
and
again,
I
don't
think
we
even
covered
everything
in
completion.
There
were
numbers
of
things
like
off
the
top
of
my
mind.
There
were
a
number
of
different
upgrades
as
a
result
of
bug
fixes,
thanks
to
thanks
to
the
pe
team,
for
example,
like
the
governance
contract,
upgrade
that
happened
last
year,
yeah
there's
some
other
stuff,
but
yeah
million
other
things.
A
So
thanks
for
listening
and
I-
and
I
hope
that
this
is
a
testament
to
just
the
incredible
amount
of
work
being
done
by
the
numerous
teams
here
at
maker,
many
of
which,
if
we
didn't
have,
we
would
be
that
much
less
fortunate.
So
thank
you.
All
you've
been
you've
had
a
great
year
and
I'm
looking
forward
to
a
fantastic
2022.