►
From YouTube: Open Decentralized Voter Committee | June 16, 2022
Description
The Voter Committee Calls are designed to invite MKR stakeholders to help the community agree on an overall top-down structure of categorizing the activities and strategic initiatives of the MakerDAOs decentralized workforce to create more specialized voter committees that cover each category.
More Information: https://forum.makerdao.com/t/decentralized-voter-committees-wednesday-and-thursday-9pm-cest-getting-real-edition/15777
A
Yeah,
oh
yeah,
all
right
welcome
everyone,
I'll
just
repeat
the
whole
time,
so
this
is
the
thursday
call
that
focuses
on
the
first
thursday
endgame
voter
committee.
Call
that
focuses
on
the
long
term
and
the
end
game
plan
itself.
And
basically
you
know
it's
about
going
walking
through
the
plan
as
I
release
these
different
parts
on
the
forum
and
then
also
getting
input
and
feedback
and
changing
it
and
so
on,
and
so
actually
today
was
first
of
all.
Today
it
hopefully
will
be
a
little
bit
shorter.
A
So
we'll
have
a
lot
more
time
for
discussion,
because
this
part
is
a
little
bit
shorter,
but
also
the
slides
are
a
little
a
bit
unfinished,
because
I
just
got
some
some
interesting
feedback.
Last
minute,
then
I
tried
to
incorporate,
but
basically
I
wasn't
able
to
you
know
so:
they're
slightly
a
little
bit
rough
and
will
be
updated
before
I
then
post
the
whole
thing
to
the
forum.
A
Okay,
so
this
is-
and
this
was
covered
in
the
in
the
early
part
right
part,
one
and
two
and
so
on
right.
So
this
is
sort
of
a
repeat
of
this
overall
idea
of
what
exactly
you
know,
what
are
the
metadata
from
the
perspective
of
the
maker
call
basically,
and
how
maker
can
use
them
to
to,
to
sort
of
you
know
like
come
out,
compartmentalize
its
complexity
and
de-risk,
but
also
enforce
decentralization
in
certain
key
functions,
actually
I'll
just
like
well,
you
know
I'll
just
like
quickly
go
through
all
this
stuff.
A
Basically,
the
the
elements
that
interact
with
sort
of
the
more
complex,
wider
world
right
so
maker
sort
of
has
this
very,
very
simple
call
and
then,
instead
of
being
able
to
deal
with
all
complexity,
directly
make
her
sort
of
acts
through
these
metadatas
to
to
sort
of
to
yeah,
to
do
to
take
care
of
the
complexity
and
also
what
that
means.
Is
that
maker,
for
instance,
never
deals
with
humans
or
deals
with
like
companies
in
terms
of
you
know
like
improving.
A
You
know,
through
governance,
proposals,
specific
relationships
or
something
all
that
instead
all
these
relationships,
because
that's
a
relationship
problem
right
because
there's
too
many,
you
know
cumbersome
single
threaded
governance
to
single
individual
human
relationships
in
maker
right
now,
and
it's
causing
a
lot
trouble.
Basically,
and
the
idea
is
to
replace
that
with
this
down
to
dao
paradigm
right
and.
A
Basically,
that's
that's!
That's
really
the
that's
sort
of
the
gist
of
it
right
that
you
have
this
down
to
that
paradigm
and
then
the
metadata
they
take
care
of
of
these
different
parts
of
complexity,
right
and
so
overall.
That
type
of,
let
me
just
go
all
the
way
back
to
this
part,
so,
overall,
that
that
you
know
this
kind
of
of
broad
category
of
complexity.
Are
these
three
categories
right,
so
you've
got
this
general
metadata,
that's
the
creator
metadose
and
with
general.
A
What
this
means
is
that
they're
sort
of
this
is
really
this,
like
pure
concept
of
a
metadata
right,
so
like
a
dow,
that's
defined
by
its
community.
That
runs
multiple
protocols
and
it's
basically
about
the
innovation,
growth
and
creating
things
and
developing
things
and,
to
some
extent
they
represent.
Well,
I
mean,
for
you
know
like
we'll
get
to
that
example
later
right,
but
this
m0
we
talked
about.
A
We
have
things
like
deco
protocol
right
that,
or
this
example
of
like
maker
core
starting
to
grow
out
this
organic
innovation
and
and
somehow
ended
up
doing
a
fixed
rates
product
right,
which
which
in
one
hand,
makes
a
lot
of
sense
because
there's
a
lot
of
talent
in
the
maker
ecosystem.
But
the
problem
is
it's
it.
It
makes
it
very
complicated
to
deal
with
major
governance
when
we
have
to
deal
with
all
this,
like
cutting
edge
innovation
right.
A
So
that's
what
you
can
put
into
the
creator
dials
and
there's
other
examples
of
this
kind
of
stuff,
there's
like
institutional
vaults,
which
is
another
cool
innovation
and
then
there's
like
all
sorts
of
smaller
scale,
collateral
and
all
this
kind
of
stuff,
that
that
is
really
the
kind
of
things
that
can
that
can
go
into
these
created
hours.
Then
there's
also
like
collaborating
and
interacting
with
other
communities.
A
So
you
know
partnerships
with
avi
or
whatever
as
an
example
right
another
one
is
basically
expansion
to
a
specific
chart
or
like
blockchain
domain.
So,
for
instance,
we
have.
This
is
like
a
classic
problem.
We've
had
in
maker
for
ages
right
that,
oh
polygon,
they
want
to
do
something
with
us
and
then
optimism
are
doing.
Something
and
solana
is
doing
something
or
whatever
right
and
the
problem
is
we
can't.
A
We
can't
make
a
deal
with
them.
We
can't
really
sort
of
promise
them
anything
because
we're
so
overloaded
with
stuff
to
do
anyway,
that
it's
like
impossible
to
sort
of
focus
on
okay,
let's
do
like
a
some
kind
of
strategic
focus
on
polygon,
and
then
we
like
put
a
lot
of
effort
into
building
a
community
in
polygon
and
then
connecting
with
a
community
and
so
on
right
and
that's
exactly
where
the
metadata
is.
A
A
And
then
you
have
your,
you
know
you
can
sort
of
run
with
that
and
and
figure
your
own
ways
to
have
that
growth
happen
and
how,
to
you
know,
connect
into
the
money
that
goes
there
and
so
on
right.
So
that's
basically
the
created
house.
They
basically
represent
this
sort
of
pure
decentralized
d5
viral
growth,
innovation,
money,
legos,
really
sort
of
the
you
know
the
pure.
You
know
the
purest
of
of
d5
right
and
how
maker
has
the
a
really
good
foundation
to
tap
into
all
that
long-term
value?
A
There
right
that'll
be
created
over
the
next
decades
right
and
then
you
have
these
more
specialized
metadatas
that
are
basically
deliberately
sort
of
compartmentalized
types
of
metadials
that
do
these
more
specific
functions.
That
are
just
a
basically
a
major
headache
for
me
right.
So
you
have
the
governor
metadata,
which
is
basically
about
really
sort
of
professionalizing
and
formalizing
and
even
gamifying.
In
a
sense,
this
sort
of
the
ultimately
the
the
the
you
know
the
strict
governance
process
that
is
necessary
for
a
doubt,
a
function
in
the
very
long
run
right.
A
Right
and
one
of
the
biggest
issues
that
we
will
run
into
in
the
very
long
run
is
just
that,
the
more
you
grow,
the
more
all
these
processes
and
all
this
stuff
that
today
seems
kind
of
like
useless
paperwork
or
bureaucracy,
to
a
certain
extent
right.
That
eventually
will
become
absolutely
critical
for
survival
right.
So
you
don't
get
this
total
sort
of
bureaucratic
breakdown.
Like
you
see
in
you
know,
I
mean,
I
guess
the
example.
A
I
like
to
use
the
the
the
defense
industry
or
the
you
know,
the
american
pharmaceutical
industry,
or
something
like
that
right,
where
you
just
get
this
like
captured
by
by
administration
in
a
sense
right
and
then
the
the
governor
metadas.
They
specifically
basically
like
specialize
in
optimizing
that
and
implementing
a
certain
set
of
of
like
a
certain
level
of
complexity,
but
then
just
like
completely
ossifying
that
level
of
complexity
and
ensuring
that
they're
all,
basically
that
the
the
checks
and
balances
are
in
place
in
particular
that
they
are.
A
Basically,
you
know
for
every
negotiation
that
occurs
with
maker,
there's
someone
sort
of
on
maker's
side
that
is
independent,
and
then
it's
also
specialized
in
in
sort
of
representing
maker
in
in
this
kind
of
negotiation.
Right
and
so
actually
the
governors
are
ultimately
the
way
it
actually
works.
Is
that
it's
almost
like
a
hierarchy
where
the
governor
met
at
house
they're
closer
to
the
maker,
co
innocence,
and
then
they
go
out,
and
then
they
interact
on
maker's
behalf
with
the
creator,
make
it
house
and
the
performer
make
it
out.
A
You
know
primary
dials
right
that
are
doing
actual
work
of
the
created
house
and
then
the
final
category,
which
is
this
reformer
down
right,
and
so
the
reform
announced.
That's
basically,
you
know
take
the
really
really
crazy.
You
know
so
like
real
assets,
legal
regulation,
that
entire
universe
is
sort
of
another
level
of
complex
compared
to
the
existing
crazy
complexity
of
d5
smart
contracts.
A
You
know
dow
politics
right,
if
you
add
legal,
the
legal
quagmire
that
makes
you
get
this
like
extra,
intense
level
of
complexity
and
and
sort
of
friction
right,
and
so
basically
I
mean
that's
what
I
you
know.
I
have
to
say
that
for
for
a
while
right,
and
especially
said
it
yesterday,
that
you
know
that
at
this
point
I
think
that
it's
we
can
basically
declare
rebel
assets.
A
A
So
these
are
kind
of
like
in
a
sense
these,
like
the
base
classes
and
then
all
sorts
of
of
more
advanced
classes
and
sort
of
unique
twists
will
then
develop
on
top
of
them
right.
But
it
will
be
unpredictable
because
the
whole
point
is
that
we're
letting
loose
dow
communities
right
and
we're
really
sort
of
tapping
into
the
the
primordial
power
of
of
of
doubts,
right
and
human
organizations
and
how
that
has
been
supercharged
with
the
internet.
A
You
know
the
unique
value
that
that
makes
every
single
metadata
valuable,
there's
a
little
bit
more
beyond
this,
but
this
is
like
the
really
heavy
hitting
stuff,
basically
right
and
so
number
one
thing
is
the
decentralized
front,
end
and
sort
of
the
front
end
and
the
the
brand
of
the
metadata,
and
that's
really
the
lifeblood
of
every
metadata
right.
Because
and
that's
because,
like
the
the
whole
point
of
the
metadose,
is
that
with
maker
we
have?
This,
I
mean
maker
is
like
a
protocol.
A
Now
right,
it's
like
it's
a
dow
that
runs
this
critically
important
stable
coin,
and
it's
basically
about
delivering
stability
to
people
that
that
entrusted
with
their
savings,
and
that
naturally
means
that
maker
gets
this.
You
know
weird
culture
that
on
one
hand,
is
sort
of
boring
in
a
sense
right
and
has
doesn't
have
as
much
participation
as
sort
of
the
average
random
crappy
d5
project,
often
right
and
then
at
the
same
time.
A
I
also
get
a
lot
of
really
crazy
politics
and
sort
of
power
politics
and
that
kind
of
stuff,
just
because
of
sort
of
the
the
power
of
what
we're
dealing
with
with
with
money
right.
Creating
money
and
metadows
they're
meant
to
sort
of
instead
of
being
defined
by
what
they're
doing
they're
meant
to
be
defined
by
a
community,
first
and
foremost
right
and
sort
of
a
brand
and
a
culture
as
well
right.
A
So
we
sort
of
built
the
we
we,
we
create
some
kind
of
unique
community
like
a
fun
community,
basically
right
that
and
that-
and
that
becomes
the
core-
and
you
know
the
core
of
what
the
dow
is
right
and
that's
why
the
front
end
is
always
sort
of
the
the
number
one
thing,
basically
for
a
minute
all
right,
because
all
metadatas
are
just
trying
to
attract
more
people
to
them.
They're
trying
to
to
find
new
ways
to
engage
with
people
and
they're
trying
to
sort
of
stand
out,
and
then
they
have.
A
But
what's
so
powerful
about
metadata
is
all
this
stuff
is
sort
of
copy-pasted,
essentially
right.
So
it's
pretty
much
for
free
that
you
get
these
products
and
that's
really
the
power
of
it
right.
So,
if
you're
doing
anything
else
that
are
attracting
users
to
your
your
your
dow,
then
you
may
as
well
try
to
sell
them.
Some
some
make
a
vault,
for
instance,
and
make
a
revenue
share
and-
and
that's
really
that's
sort
of
the.
A
A
The
entire
make
a
protocol
essentially,
but
with
a
twist
where
they're,
not
gonna,
use
it
to
try
the
bootstraps
of
a
a
stablecoin
instead
of
a
savings
currency
like
die,
but
they're
more
going
to
sort
of
you
know
angle
it
to
to
behave
like
more
like
a
lending
platform
like
rba
compound
right
and
then
ultimately,
then,
where
it
all
comes
together.
Is
that
maker
hooks
up
a
d3m
to
to
these
metadial
landing
engines?
Engines
right?
So
these
basically
cut
like
these
basically
they're
sort
of
almost
like
shouted
vault
engines
right.
A
So
almost
like
an
like
this
concept
of
putting
bringing
maker
to
other
chains,
it's
just!
Not
only
are
you
bringing
them
to
other
chains,
but
you
also
bring
them
to
a
separate
governance
community
right
and
then
the
governance
community
can
run
its
own
processes
to
do
collateral.
Onboarding,
to
you
know,
pick
cheaper
oracles,
pick
sort
of
exotic
collateral
and
then,
most
importantly,
the
metadows
always
have
this
buffer
of
capital
right.
A
So
they
always
have
this
like
pile
of
treasury,
basically
that
that
means
they're,
they're
credit
enhancing
this
stuff
right,
so
there
so
maker,
there's
a
there's.
The
same
kind
of
alignment
between
the
metadow
and
her
as
there
is
between
you
know,
maker
and
die
holders
right
where,
when
maker
hands
over
money
to
the
metadow,
the
metadata
sort
of
putting
everything
at
risk
first
before
maker
is
risking
risking
anything
right.
So
maker
gets
this
sort
of
steady
return.
A
The
metadata
gets
to
pursue
different
avenues
for
for
providing
credit
in
the
you
know,
in
the
for
creative
metadata,
it's
about
providing
credit
in
d5
and
for
reformer
metadata.
It's
about
providing
credit
in
the
real
world
right
with
verbal
assets
and
and
then
ultimately,
everyone
benefits
right
maker
gets
steady,
safe
income,
that's
easy
to
manage
because
it
has
it
has
this
over
collateralization
this
credit
enhancement
and
that
you
know
die,
gets
spread
widely
and
then
gets
this
sort
of
very
fast.
You
know
it
goes
from.
You
know.
A
Maker
goes
from
being
very
slow,
moving
thing
that
has
a
hard
time
catching
up
to
sort
of
the
best
of
both
worlds
right,
where
it's
both
very
slow
in
the
core,
but
then
has
these
like
very
fast
mini
makers,
almost
that
that
lend
out
assets
right
and
and
can
actually
operate,
much
much
faster
than
maker,
but
are
still
doing
the
same
basic
thing.
That
maker
is
doing
just
at
this
sort
of
at
the
edge
and
at
a
smaller
scale.
A
Then
there
is
the
super
advanced,
endgame
tokenomics.
So,
basically
again,
the
ndm
plan
is
about
this
ossification
and
sort
of
a
finite
scope
of
of
the
protocol
right,
and
so
what
that
means
is.
We
have
to
really
try
to
future
proof
things
and
after
really
sort
of
researching
this
through.
Basically
through
you
know,
d5,
2.0
and
all
the
crazy
stuff
we
saw
there.
A
I
you
know
I
arrived
at
this,
this
concept
of
intangible
value
and
basically
another
way
to
think
of
it.
Is
that
it's
like
you
know:
it's
not
just
what
you
it's
not
just
what
you
return
to
the
token
holders
right.
It's
also
how
you
make
them
feel
basically,
and
one
of
the
ways
you
can
really
you
can
do
that
with
tokenomics
is
to
make
it
very
advanced
and
and
and
sort
of
make
it
very.
You
know.
A
Moving
around
a
lot
of
funds
basically
makes
you
know
you
know,
makes
tokenomics
appear
more
attractive
right.
That
makes
people
want
like
it
basically
makes
people
feel
feel
better
about
a
lower
yield
if
they
think
the
yield
is
more
like
a
slot
machine
sort
of,
in
a
sense
right
with
like
sort
of
bells
and
whistles
than
if
it's
just
like
boring
old.
A
Here's
a
dividend
or
you
know-
and
the
perfect
example
is
of
course
the
classic
debate
of
buying
burn
versus
staking
rewards
right.
So
this
singularity
engine
is
sort
of
an
upgrade
of
the
sagittarius
engine.
That
was
one
of
these
very
early
iterations
of
the
in-game
plane
right.
That
simply
has
it
basically
has
every
single
thing
you
can
you
can
provide,
so
it
has
multiple
forms
of
staking.
A
It
has
the
ability
to
generate
die
and
and
and
some
other
features
it
has
lockup,
not
kind
of
like
not
similar
to
to
curve
style.
Lockup,
but
rather
a
kind
of
a
lock,
a
sort
of
a
an
unlock
fee.
Essentially
so
you
can
instantly
unlock,
but
it
just
you
know,
you're,
better
off,
staying
locked
up
forever,
because
when
you
unlock
you
actually
you
pay
to
unlock.
A
You
know
valuable
rewards
and
the
whole
idea
is
once
you're
locked
in
like
that.
Then
you
really
have
a
significant
incentive
to
to
participate
in
governance
right
and
and
ensure
things
are
running
well,
because
you
can
just
sort
of
easily
round-trip
it
and
just
dump
and
and
get
you
know,
leave
again
right,
but
rather
you're
you
have
some
really
significant
skin
in
the
game
that
actually,
you
know
to
some
extent
deals
with
this
or
the
outsiders.
A
The
free
riders
are
out
on
the
on
the
edge
and
then
the
the
contributors
of
the
call
right
then
there's
something
that
actually
can
can
benefit
the
call
further,
and
so
the
whole
point
is.
The
metadata
also
gets
that
for
free,
but
not
only
that
they
have
this
additional
there's,
this
additional
complexity,
to
how
this
tokenomics
system
works.
That
basically
means
that
it's
sort
of
a
it's
it
it
it
plays
out
as
a
kind
of
almost
like
curved
walls,
style
game
of
thrones
between
the
metadials
and
maker.
A
A
And
so-
and
that's
also
just
me
so
because
of
there-
is
this
tie-in
in
this
tokenomics
game
that
it
gives
a
kind
of
inherent
value
to
the
metadata
that
simply
is
directly
derived
from
the
value
of
the
mkr
token,
but
also
the
other
end
round.
The
value
of
the
of
the
mkr
token
directly
derives
value
from
the
value
of
the
metadata.
A
Then
there's
the
final
piece,
which
is
the
coordinates
and
sort
of
the
relationship
problem.
So
this
is
where
basically,
the
idea
is
that,
instead
of
having
maker
directly
hiring
companies
to
be
co-units,
basically
of
people,
individual
people
to
be
co-units
maker
instead
hires
a
metadata
to
sort
of
provide
a
core
unit
service,
and
then
the
metadata
goes
out
and
hires
people,
but
then
delivers
a
service.
But
the
point
is
that
eventually
the
service
is
defined
as
a
sort
of
as
a
result
right.
So
it's
not
you
know
so
we're
not
we
don't.
A
That
it's
not
really
the
high
budget
side
of
the
problem.
It's
the
it's!
The
sense
that
there
is
no,
it's
not
clear
what
they're
getting
us
right,
and
so
you
can't
really.
You
can't
easily
change
that
paradigm.
If
you
just
tell
some
some
individual
to
be
like
okay,
give
us
some
guarantee
about
whatever
right,
so
we
we
really
actually
feel
like
we're.
Gonna
we're
gonna
get
this.
A
If
we
pay
for
it
now,
then
we
know
we're
gonna
get
some
kind
of
outcome
right,
because
nobody,
no
individual,
can
guarantee
it
can
guarantee
that
right,
but
a
dow
with
a
treasury
and
and
governance,
that's
able
to
actually
sort
of
specializes
in
in
making
these
kind
of
guarantees
can
do
that
right.
So
that
is.
That
is
basically
I
mean.
That's
it.
That's
something
that's
available
to
the
the
creator
does
and
the
governor
dials
and
for
the
created
eyes.
A
It's
probably
it's
sort
of
a
possibility,
an
option
for
them
for
the
governor
downs.
This
is
pretty
much
the
main
thing
they
do
so
that's
sort
of
what
they
that's
the
governor.
That's
what
they
really
specialize
in
is
this.
You
know
dealing
with
the
coordinated
ecosystem
and
being
kind
of
like
that
with
the
administrative
layer
for
that
and
then
also
providing
a
kind
of
insurance
that
the
administration
administered
layer
itself
is
performs,
as
it
should
right
and
follows
all
the
processes
and
best
practices
and
so
on.
A
A
A
The
liquidity
comes
from
this
sort
of
trust.
Essentially
right.
This
sort
of
attention
attention,
economy,
almost
right
and
doshcoin
is
very
interesting
because
it's
basically
it's
the
same
thing.
But
it's
like
it's
a
completely
sort
of
unique
like
right,
like
sort
of
like
it's
entirely,
based
on
on
a
kind
of
a
fun
community
and
meme
right.
A
Where
you,
you
know
we
need
you
know
we
we
need
to
fight
like
there
needs
to
be
a
reason
for
people
to
actually
participate
in
a
doubt
right
and,
and
ultimately,
it
comes
from
like
a
sense
of
of
community
and
a
sense
of
of
you
know,
belonging
even
right,
so
you
you're
part
of
a
group
and
and
that's
ultimately,
why
you're
sort
of
contributing
that's.
Why
you're
doing
some,
you
know
doing
interesting
stuff
and
you
that's
why
you're
innovating?
That's
why
you're
trying
to
grow
it?
A
That's
why
you're
trying
to
spread
the
word
right-
and
you
have
examples
of
of
you-
know
things
like
the
nascar
thing
right,
where
the
dogecoin
community
raised
funds
for
nascar
or
whatever
right
and
with
bitcoin.
Of
course
you
have
this
whole,
I
mean
you
have
this
entire
industry
and
bitcoin
ads
and
all
that
stuff
right,
and
that's
really
I
mean,
and
we
you
know
in
mega,
we
have
sort
of
the
opposite
of
that
right.
A
It's
because
maker,
I
mean
you
know-
well,
basically
we're
community
for
specialized
monetary
theorists,
something
like
that
right
that
are
super
risk-averse
and
conservative
and
and
that's
who
we
have
to
be
because
we're
ultimately,
a
protocol
down
like
we're,
also
really
entirely
focused
on
the
protocol
and
whatever
the
protocol
needs,
whatever
the
dye
stapler
needs
maker
sort
of.
Does
that
right,
but
the
metadials
they
can
be
the
opposite
right,
because
they
basically
don't
I
mean,
and
the
reason
why
maker
has
to
be
vertical.
Dow
is
because
a
stable
coin
is
sacred
right.
A
A
You
know
sort
of
I
mean
nowadays
it's
not
to
the
same
extent
right,
but
but
we
had
the
same
maker
metaverse
in
a
sense
right.
That
was
made.
It
really
unique,
and
I
also
think
we
we
need
to
rebuild
that
in
maker,
but
we
need
to
also
really
tap
into
that
with
the
metadata
right.
That's
the
really
unique
opportunity
so
anyway,
so
the
dosh
diaz
is
idea,
for
you
know
so
the
bait
the
pitch
is
that
it's
like
a
fun
community
that'll
attract
developers
that
don't
want
to
work
in.
A
You
know
a
bank
down
right.
They
want
to
work
in
a
in
a
dose
down
rather
than
a
bank
now,
because
they
want
to
have
a
they
don't
have
fun
right,
they
want
to
be
anonymous
and
they
want
to
post
memes
and
so
on
right
and
we're
also
trying
to
attract
users
that
get
attracted
by
that
kind
of
aesthetic
and
marketing
material
and
and
and
brand
in
general,
right
and
and
then
there's
just
a
whole.
A
Bunch
of
you
know,
so
you
know,
there's
a
whole
bunch
of
of
sort
of
free
value
that
that
comes
out
of
the
box
as
a
metadata
right
like
there's
this
there's
the
the
ability
to
to
basically
run
a
mini
maker
protocol
to
land
out
money,
and
that
could
potentially
be
targeting
people
that
want
to
lever
up
on
dogecoin
or
something
like
that.
Right,
like
I
mean
this,
is
and
and
that
whole
approach
like
that
whole
angle
is
an
example
of
this.
A
I
don't
know,
try
to
advertise
with
those
targeted
ads
or
branding
of
some
sort
and
and
specifically
trying
to
reach
people
that,
like
dark
coins
or
something
like
that
right-
and
that
is
I
mean,
and
then
this
is
sort
of
like
hypothetical
development
right.
So
imagine
it's
a
fun
environment,
they're
able
to
attract
developers
that
that
you
could.
You
know
that
don't
want
to
work
elsewhere
and
defy
so
they
get
developer
talent,
and
then
they
start
to
not.
You
know,
then
they
can
do
do
some
stuff
with
it.
They
can.
A
You
know
they
can.
First
of
all,
they
can
do
work
for
maker,
so
they
can
run
oracles
for
maker
and
this
whole
oracle
thing
I'll
get
to
that
a
little
bit
later
right,
but
the
oracles
are
really
sort
of
every
single
metadata
are
basically
tapping
into
the
oracles,
because
it's
such
a
fundamental
value
and
and
the
metadata
can
really
uniquely
offer
this
thing
of
like
guaranteeing
the
you
know,
first
of
all
guaranteeing
decentralization
and
diversification
of
the
oracle
notes,
but
also
collateralizing
them
right
and
you
know
ensuring
against
failure.
A
And
then
the
same
thing
goes
for
for
building
stuff.
For
maker
and
that's
sort
of
one
place
where
you
know
that,
there's
a
there's,
a
there's,
there's
value
that
creator
dao
can
generate
with
developer
talent,
but
then
he
can
also
start
developing
his
own
stuff
right
and
I'm
very
I'm
a
strong
believer
in
you
know
that,
with
the
I
mean-
and
I
think
you
could
you
re-
it's
really
proven.
A
If
you
sort
of
hit
the
right
all
the
right
conditions,
I
think
this
could
you
know
there
could
be
really
be
some
some
crazy
potential
right
over
the
next
many
many
years
right.
There's
going
to
be
so
many
opportunities
in
d5
and
it's
going
to
be
around
you
know
it's
basically
going
to
be
about
having
the
right
people
in
the
right
place.
That
can
then
jump
on
those
opportunities
right.
B
B
A
So
well,
okay!
So
so!
Well,
okay,
let
me
let
me
first
talk
about
entity
because
that's
a
good,
that's
a
really
good
thing
to
talk
about
right.
So,
first
of
all
like
in
general,
the
goal
is
to
have
no
entities
that
sort
of
ever
are
in
a
situation
where
they
have
a
kind
of
agreement
with
maker
governance
itself
right.
So
the
metadata
sort
of
you
know
they
they
basically
are.
You
know
intermediate
that
right
so
so
that
naturally
means
that
the
metadows
they
will
interact
with
entities,
at
least
in
many.
A
You
know
many
of
them
right,
but
some
of
them
I
mean.
Let's
say
this:
hypothetical
dosh
dao
could
possibly
be
a
completely
entityless
100
decentralized,
fully
anonymous
I
mean-
or
maybe
maybe
that's
not
the
right.
You
know,
maybe
that
would
be
like
an
aenon
dao
or
something
like
that
right
that
specializes
in
exactly
that
right
and
that
would
also
that
would
create
some
very
interesting.
A
You
know
they
can
they
sort
of
consolidate
their
their
overhead
for
entities
and
hr
whatever
all
this
stuff,
they
sort
of
run
that
themselves
right
and
they
allocate
their
own
budgets
and
they
they
run
sort
of
a
mini
maker
governance
process
inside
themselves.
That's
sort
of
fine-tuned
for
what
they
need
and
it
also
at
the
same
time
and
someone
I
just
I
just
saw
this
mentioned
in
chat
right
and
they
have
this
ability
to
grow
massively
huge,
basically
because
as
they
like,
when
they're
really
small,
they
can
be
like
super
simple.
A
Whatsoever,
just
a
bunch
of
anonymous
people,
maybe
even
like
no
co-units
or
budgets
at
all.
Maybe
it's
just
a
bunch
of
token
holders
that
you
know
collaborate
somehow
right
and
hype
a
token
together
and
run
a
front
end
and
run
some
some
community
events
or
whatever
right
and
but
then
as
it
as
it
becomes
necessary
as
they
grow.
They
can
basically
get
more
of
this
sort
of.
You
know
this,
like
scalable
governance,
build
up
inside
of
them
right
and
then
they
can
rely
on.
A
They
can
sort
of
build
off.
What
maker
already
has
right?
So
in
this?
So
once
again,
it's
this
synergy
of
being
able
to
copy
paste
right.
It's
totally
for
free
right,
there's
a
there's.
This
example
of
the
the
universal
dial
toolkit
right
so
maker
can
operate
based
on
a
kind
of
erp.
You
know
dao
specific
earpiece
software
that
helps
really
simplify
the
ability
to
sort
of
comply
with
all
the
overhead
and
all
the
disclosure
and
all
the
transparency
and
processes,
and
so
on,
necessary
to
work
in
a
flat
organization
right.
A
They
can
copy
all
that
in
a
in
a
metadata.
They
can
also
copy,
for
instance,
is
like
the
budget
allocator
role
right.
So
that's
also
something
that
can
again
and,
and
then
I
think,
actually
the
budget
allocated
role
is
something
that
can
be
extremely
powerful
in
a
metadata
specifically
could
possibly
be
more
like
this
whole
system
could
be
more
powerful
than
a
metadata
rather
than
in
maker,
because
in
maker
the
budget
allocator
system
is
mostly
about
basically
keeping
budgets
efficient.
B
B
More
of
a
framework
where
you
could
take,
I
mean,
as
someone
that
has
lived
through
multiple
decades
of
erp
sap
and
business
process
re-engineering
that
stuff.
You
talk
about
politics
and
relationships
and
complexity.
Oh
my
god!
So
you
know
what
I
was
reading
about
about.
How
that
we're
delegate
delegating
responsibility
in
some
respects
to
all
of
these
different
entities.
The
subjectivity
is
even
more
than
it
is
today,
which
then
has
a
dependency
back
on
relationships
which
therefore
develops
into
politics,
so
that
I
just
it's.
A
I
mean
it
ultimately
compartmentalizes
it
right,
so
it
like
it
well
so
so,
like
metadatas
are
not
meant
to
like
metadata,
so
metadows
are
basically
meant
to
do
what
maker
is
right
now
doing,
right
to
sort
of
growing
and
organically
doing
stuff,
which
maker
cannot
do
even
if
it's
really
cool
it?
It's
it's.
A
You
know
it's
not
viable
because
is
ultimately
a
protocol
down
right,
so
maker
has
to
look
after
the
die
stable
coin,
and
that
means
you
can't.
You
can't
just
allow
sort
of
unbounded
growth
of
complexity
right,
but
in
a
matter
like
metathouse,
they
can
do
that
freely
because
they,
basically
they
essentially
you
know
they're,
basically
just
a
copy
paste
right,
so
they
cost
basically
nothing
to
create
or
you
rather,
you
can
sort
of
predefine
what
they
cost
to
create,
and
then
it's
just
an
evolutionary
process
right.
A
So
so
it's
not
like
a
guaranteed
formula
for
success,
but
rather
it's
kind
of
like
it's.
You
know
it's,
it's
a
very
powerful
sort
of
seed
to
start
from.
Essentially
right
because
I
mean-
and
you
know
I
mean
I
won't-
I
would
there's
both
the
examples
of
all
these.
You
know
I
think
deco
protocol
is
like
a
good
external
maker
right
then
there's
like
the
oracle
protocol.
B
A
Very
much
yeah
I
mean
and
whether
it
becomes
super
simple
or
super
complex,
it's
sort
of
up
to
the
the
I
mean
the
token
holders.
They
have
the
token
they
run
the
governance.
They
decide
what
kind
of
risk
they
want
to
take
right.
So
some
they
will
want
something
super
simple.
Some
they
want
something
super
crazy.
A
Someone
wants
something
in
between.
Somebody
will
want
some
kind
of
the
latest
fad
whatever
and-
and
I
mean
I'm
right-
we
I
mean
I'm
sure,
we've
seen
like
in
maker.
We
have
like.
Oh,
let's
do
this.
Let's
do
that
like
we.
We
have
all
these
things.
We
want
to
do
right,
but
it's
basically
maker
cannot
really
do
that.
Even
at
this,
even
if
maker
is
one
of
the
projects
that
has
the
actually
the
resources
available
to
do
something
and
theoretically
go
sort
of
scale
up
to
to
handle
it.
A
A
A
A
The
upside
is,
is
I
mean
just
the
attention
from
creating
a
metadata
with
the
the
sort
of
the
limited
costs
that
go
into
creating
a
metadata?
It's
very
easy
to
earn
that
back.
Just
because
of
the
attention
can
bring
to
you
know
the
use
of
of
dye
or
something
like
that
right,
because
we,
basically
we
have
the
whole
we've
got
the
whole.
You
know.
So
we
got
all
the
layers
that
they're
building
on
top
of
right,
I
mean
they're,
they
use,
they
use
die
right
for
their
as
a
currency.
A
They
use
vaults
to
to
access
credit
and
so
on
right
they
use
they.
They
do
this
revenue
share
and
and
so
on.
Basically
I
know
yeah
we'll
get
to
that
a
little
bit
later
right,
but
there's
this
whole
thing
about
it.
Can
you
can
validate
this
right?
So
basically
you
can
actually
figure
out
whether
it
works
or
not
before
you
have
to
commit
to
this
stuff.
A
A
A
A
We're
really
talking
about
this,
this
digital
real
estate
and
digital
assets
that
are
available
to
community
and-
and
that
can
become
the
reason
why
you
you're
interested
in
being
a
part
of
that
community
right
rather
than
governing
some
protocol
or
making
some
dividends
or
something
right.
That's
more
like
that's
the
expected
stuff,
but
the
sort
of
the
the
reason
why
you're
picking
this
specific
dial
right,
that's
the
kind
of
that's
the
unique
flavor
of
it
right.
A
And
in
general
I
think
it's
a
gaming
metaverse
I
mean
that's.
I
was
just
I
was
thinking
earlier,
like
sort
of
the
like
how
to
really
like
one
thing
is
you
can
pitch
this
stuff
in
the
you
know
the
height
of
the
crazy
bull
market?
Right,
because
that's
where
everyone's
just
like
going
crazy
about
this
kind
of
whatever
right,
then
you
can
say
doge,
festival
and
people
be
like
holy.
You
know
here's
100
million
dollars
right,
but
I
think.
A
A
Okay
yeah,
so
this
I
mean
I'll
keep
this
much
shorter
right,
but
so
this
is
just
another
thing:
we'll
have
a
governor
now
and
once
again
this
is
sort
of
exaggerated
like
so.
I
wouldn't
expect
that
necessarily
the
first
first
created
some
kind
of
silly
dosh
thing
it
could
be.
I
don't
know
it
could
be
like
a
hacker
vibe
or
a
cyberpunk
or
sci-fi
or
whatever
wizard,
or
something
like
that.
Right
I
mean-
or
maybe
even
I
don't
know,
some
really
unique-
sleek
brand,
almost
corporate
or
neo
d5,
whatever
right.
A
All
of
that
is
possible,
I'm
just
I'm
coming
up
with
these.
I'm
mostly
focusing
these
sort
of
silly
examples,
because
I
think
that's
the
more
like
it's
easy
to
imagine.
Yeah
mega
can
be
a
pc
that
funds
a
d5
protocol
and
then
backs
it
with
all
this
its
power
and
might,
and
then
it
becomes
a
success.
I
think
that's
sort
of
actually
pretty
easy
to
to
imagine
that
right,
but
but
you
know
adding
this
sort
of
sort
of
the
the
extreme
end
of
the
metaverse
spectrum.
A
To
that,
I
think
it
helps
illustrate
more
that
what
the
kind
of
of
potential
power
we
can
really
branch
out
into
and
tap
into
with
this
stuff,
and
that
and
let
all
that
happen
organically
right,
so
we
don't
defuse
it
in
any
way.
It
can
can
happen
by
itself
if
it's,
if
it's
meant
to
happen
right,
it's
all
an
evolutionary
process.
A
You
know
the
the
the
the
governance
processes,
but
it
could
also
just
as
much
be
a
way
to
sort
of
gamify
and
make
them
fun
right.
So,
and
so
that's
basically
the
idea
of
the
the
governator
thing
right.
So
you
could
have
a
you
know.
You
could
have
a
governor
dao
focus
heavily
on
nfts,
because
the
number
one
thing
they're
trying
to
do
is
like
figuring
out.
How
do
we
get
people
to
guard
them,
participate
in
governance
right?
B
B
B
There's
this
thing
called
a
cash
and
carry
where
you
actually
arbitrage
the
price
difference
between
the
future
and
the
and
the
spot,
and
the
maker
is
in
the
perfect
position
to
do
this
because
you
could
land,
I
you
would
use
that
die
to
buy
it
at
spot,
sell
the
future,
and
then
you
would
actually
deliver
the
east
that
you
already
own.
You
would
make
that
that
risk-free
arbitrage
I
mean,
there's
a
smart
contract
risk,
of
course,
but
then
you
would
have
that
you
would
have
that
profit
already.
B
B
My
only
warriors
have
been
saying
it's
how
you
manage
the
risk,
so
I
think
the
the
voter
committees
might
actually
help,
but
I
don't
know
I
don't
know.
If
the
I
don't
know
how
you're
planning
on
doing
that,
one
or
if
we
still
don't
have
a
plan,
you
could,
I
guess,
manage
it
centrally
at
the
maker
level
like
the
core
maker
or
you
could
hire
external
parties,
and
I
mean
there
are
different
ways
of
doing
it.
B
A
Well,
thanks
yeah,
and
I
think
it's
you
know
so
there's
also
just
a
question
was
like
how
do
they
get
started
right,
which
I
think
is
a
little
bit
similar,
so
I
mean
basically
again,
like
you,
could
think
of
a
metadata
actually
being
a
mini
whatever
maker
currently
is
now
in
a
sense
right,
it
has
sort
of
something
that
has
core
units.
It
has
stuff,
that's
happening.
It's
got
the
you
know,
income
streams
got
a
bunch
of
different
stuff,
got
an
oracle
system,
it's
got
a
stable
kind.
A
It's
got,
you
know
fixed
rates
protocol,
it's
got
events
all
you
know
that
so
like,
but
and
to
some
extent
that
you
could
almost
take
all
of
that
and
be
like
that
could
be
a
metadata
right
and
then
they
have
some
kind
of
you
know
well
sort
of
take
out
the
stable
coin
or
the
heavy
focus
on
you
know.
The
stable
has
a
unique
thing
of
savings
and
sacred.
You
know
the
sacred
responsibility
right,
but
if
you
take
that
out,
then
you
could.
You
can
find
some
kind
of.
A
I
mean
again
this
clustering
of
like
an
identity
that
fits
with
doing
a
bunch
of
things
like
that,
but
yeah
like,
but
the
point
is
like
they
would
run
on
all
the
same
stuff.
I
mean.
Let
me
let
me
find
that
slide
right
here
right.
The
point
is
that
they
basically
run
on
the
they
run
the
same
way
that
maker
does
right.
A
But
if
it
fails
like
they
have
all
these
sort
of
recovery,
you
know
abilities
to
recover
from
failure
from
governance
failure.
Basically,
the
maker
doesn't
have
right,
but
the
reason
why
they
have
it
is
exactly
because
maker
has
that
stuff
figured
out
and
the
way
they
start
is
like
yeah.
So
actually
I
will,
but
basically
it's
through
mips
essentially,
but
that's
actually,
where
I'll,
basically
I'll
get
to
that
so
yeah.
So
I
mean
I
just
want
to
throw
show
this
last
example:
the
lifestyle
right.
A
So
this
is
an
example
of
doing
a
more
like
a
different
brain
right
where
it's
not
about
this,
like
funny,
memes
heard
or
stuff
right,
but
more
like
a
kind
of
how
you
can
try
to
create
an
identity.
That's
gonna
attract
a
different
type
of
people
right,
so
this
one
is
really
appealing
to
the
the
regen
crowd
right
and
and
also
and
more
fundamentally
like
so
the
like.
Ultimately,
there
is
this.
I
think
this
fundamental
kind
of.
A
I
don't
know
if
it's
fact
but
principle,
basically
that,
like
actually
the
kind
of
real
assets
that
we've
been
trying
to
do
in
maker
for
whatever
years
they
don't
actually
really
they're,
not
really
suitable
for
a
stable
coin.
Actually,
right
you
want,
you
don't
want
to
back
a
stable
coin
with
long
duration,
eliquid
stuff.
Basically
it
doesn't.
It
doesn't
really
make
sense
you
if
you,
if
you're
just
sort
of
thinking
about
how
would
you
like
to
collaborate,
the
stable
point?
A
The
current
financial
system
can't
really
figure
out
right.
So
that's
exactly
why
we
need
to
go
in
and
actually
go
much
deeper
than
would
be
sort
of
the
most.
You
know,
then
something
like
usdc,
whatever
bother
doing
right,
and
so
that's
what
the
you
know
and
that's
what
the
reformed
house
can
can
do
right
then
also
they
they
can
try.
You
know
they
can
sort
of
really
experiment
with
the
branding
around
this
right
and
how
we
can
try
to
sort
of
activate
people
from
from.
A
I
love
that
comment
from
chris
chris
blick.
I
feel
so
much
better
about
all
this,
as
it
was
a
staged
iterative
implementation
plan
that
is
prepared
to
revert
in
case
of
failure,
perfect
segue
into
m0,
so
that
is
the
staged.
Well,
that
is
stage
one
of
the
iterative
plan
that
can
revert
in
in
case
of
failure.
A
So
so
now
we
get
it.
You
know
now.
I
just
talked
about
those
metaverse
memes.
These
sort
of
concepts
are
sort
of
like
what
is
the
sort
of
the
the
real.
What
is
the
unique
sort
of
power
we're
tapping
into
now
we're
getting
into
now
we're
getting
into
kind
of
like
the
the
hard
facts
and
the
the
fundamentals,
the
the
sort
of
the
economic
opportunity.
A
A
A
So
if
it
isn't,
if
we
launch
the
first
one-
and
it
isn't,
has
this
massive
massively
powerful
outcome,
then
you
know
you
know,
then
basically
the
I
mean
my
opinion
is
then
we
should
abort
and
we
should
revert
and
we
should
focus
on
what
I
call
the
right
plus
model,
which
is
kind
of,
like
the
you
know,
doing
the
same
plan,
but
it's
not
even
doing
the
metadata
at
all.
Just
just
creating
this
very
solid
call
with
no
metadials
around
it
right,
but
so
what
m0
is
all
about
as
well?
A
Fundamentally,
it's
about,
I
think,
like
the
deco
protocol
could
really
be
described
as
the
corvette,
and
so
I
would
love
to
have
yeah
to
end
up
taking
huge
amounts
of
time,
but
I'd
love
to
have
dawson
and
ymc.
Maybe
china,
because
they've
actually
been
doing
it.
They
have
been
doing
tons
of
sort
of
thinking
about
this
in
advance
right,
but
I
just
want
to
quickly
before
they
they
start
talking
about
their
ideas.
A
I
just
want
to
very
quickly
sort
of
go
through
these
like
basic
stuff
right,
so
so
we'll.
Basically
that
is
right.
We
launched
the
endgame
plan
and
what
that
means
is
we
launch
this?
You
know
math
our
own
synthetic
eath
that
is
kind
of
the
the
ultimate
collateral
for
us,
because
it
allows
us
to
really
get
this.
A
You
know
maximum
efficiency
of
the
system
right
where
we
we
control
the
collateral.
We
like
the
collateral
is
our
product
and
the
stable
one
is
our
product,
and
then
we
yield
the
tokens
of
this
metadata
to
the
math
users,
so
we
transition
our
unstaked
eath
or
the
state
youth
in
order
to
capture
that
efficiency
game,
and
then
the
number
one
thing
that
this
this
new
token,
this
new
well
and,
of
course,
mk
holders-
also
you'll,
find
it
right
and
die
holders
also
you'll
find.
A
So
you
get
this
very
broad
community
and
it's
you
know
it's
a
unit
bias
token
right.
It's
tons
of
these
tokens
and
the
number
one
thing
it's
all
about
focusing
on
is
just
it's
running
a
front
end.
So
creating
a
new
front
end
for
maker.
It's
it's
initially
wouldn't
strictly
have
to
be
decentralized
front
end,
but
ultimately,
all
metadata
should
really
you
know,
should
be
decentralized
front.
It's
only
right.
A
So
it's
like
a
growth,
hacking
and
thing
primarily,
but
then
we
also
have
this
amazing
clustering
already
happening
where
deco
protocol
there's
a
freaking
fixed
rate,
almost
completely
done
product
already
in
the
workforce.
You
know
we
got
it
for
free,
we
hadn't
it's
like
a,
I
mean
you
did
it
barely
well?
Okay-
I
don't
know,
I
don't
know
if
this
is
entirely
forever.
Pretty
much
doesn't
show
up
in
the
budget
right
we've
got
a
60
million
budget.
A
I
have
no
idea
what
it's
been
used
for,
but
somewhere
in
there
somehow
there's
a
fixed
rate
protocol
right
being
built
and
already
that's
like
some
really
amazing
synergy
here
right
where
they're
already
trying
to
grow
maker
products,
but
then
they
can
upsell
those
products
right,
so
they
can
add
fixed
rates
on
top
of
them,
and
then
there
is
this
risk
dashboard
thing
that
I
just
you
know
and
there's
even
juan's
idea.
I
didn't
fully
get
it,
but
I
think
that's
exactly
the
kind
of
these
types
of
opportunities
anything
like
this.
A
We
have
right
now
all
the
low-hanging
fruit
we
have
right
now.
M0
is
all
about
putting
them
into,
and
you
know
putting
them
into
us
a
dow
wrapping
a
token
around
it
jettisoning
them
from
maker
call,
because
that
stuff
should
not
be
in
make
a
whole
right.
We
want
to
try
to
simplify
things,
so
we
want
to
get
out,
get
it
out
as
soon
as
possible.
A
Put
it
into
a
metadata,
see
if
it
you
know,
let
it
let
the
metadata
work
it
out
right,
so
you
don't
have
to
have
empire
holders
both
deal
with
global
macro
conditions
and
all
that
stuff
and
then
also
you
know,
figure
out
which
of
these
experiments
are
worth
it
and
which
aren't
right,
but
instead
have
a
communion,
is
all
about
which
of
these
experiments
are
worth
right.
An
innovator
creator,
growth
community
and
I
actually
think
the
final
point
I
want
to
make
then
I'll.
Let
doesn't
talk
right.
A
I
think
there
is
an
interesting
strategy
just
actually
between
fixed
rates
and
risk
and
front-end
right,
because
I
mean
I
think,
in
order
to
really
make
good
money
from
a
fixed-rate
product.
Having
that
risk
capacity
is,
is
useful
for
that.
I
believe
right
so
so
that
you
begin
to
see
this
kind
of
overlap
where
so,
if
you
already
have
a
metadata,
that's
offering
these
products
that
benefit
from
having
an
internal
risk
capacity.
A
A
B
I
was
going
to
ask
if
we
could
stop
the
recording
and
we
could
maybe
have
just
a
general
discussion
because
we're
going
to
basically
talk
a
little
bit
more
hypothetically,
but
I
mean
this.
This
is
totally
consistent
with
our
thinking.
We've
been
doing,
you
know
independent
thinking
apart
from
roon,
you
know:
how
do
we
solve
the
governance
overhead
problems?
How
do
we
make
our
budgets
more
effective
and
then
how
do
we,
you
know,
take
these
products
that
are
inside
of
the
core
and
not
visible
and
incredibly
valuable?
A
B
A
A
B
A
B
A
So
what
I
would
like
is
that
we
I
will
we
andrew,
can
sort
of
provide
some
general
comments
and
then
we
can
talk
a
little
bit
more
about
this
in
general,
then
I'll
just
quickly
run
through
the
other
parts
and
then
we
base
you
know
we
end
the
we
end
the
call.
Then
we
have
a
separate.
We
have
a
conversation
afterwards
and
then
we'll
provide
some
kind
of
summary.
A
A
B
Yeah,
so
so
so,
generally
for
m0
consistent
with
what
we
discussed
today,
we
would
expect
that
decode
rollout,
as
is,
and
that
if
there
are
other
projects
or
products
that
want
to
come
with
us,
we
can
discuss
at
that
time.
We'd
hope
that
some
of
the
other
supporting
core
units
would
consider
coming
along,
because
we
think
that
the
product
would
you
know
we
can
mutually
benefit
from
their
services
and
some
of
those
discussions
you
know
have,
you
know,
not
quite
started,
but
that's
you
know,
that's
generally.
B
A
A
What's
funny
is
that
the
metadata
concept
was
kind
of
one
of
the
first
I
mean
well,
not
literally
the
metadata,
but
they
sort
of.
Why
don't
we
have
another
token,
and
they
do
you
know
maker
can
do
the
slow
stuff
and
then
these
other
tokens
could
do
all
the
fast
stuff
right
and
do
their
own
little
collaterals
and
so
on.
A
That
was
I
mean
I
remember
getting
that
suggestion
all
the
way
back
in,
like
2016,
again
and
again
and
again
in
fact,
right
everyone's,
like
that's
a
great
idea,
you
know
this
stuff,
a
dow
looks
great,
but
it
sounds
very
slow.
Why
don't
we
make
sort
of
many
of
them
right
and-
and
then
you
have
you
know
so,
and
my
reaction
was
always
no.
No,
no!
No
because,
oh,
my
god,
it's
gonna,
like
you're
gonna,
have
these
tokens
and
it's
gonna.
A
You
know
like
it's:
it's
gonna,
be
a
nightmare
of
sort
of
figuring
out
like
well,
basically
how
to
square
all
that
stuff
right,
but
so
the
I
mean
the
main
reason
why,
for
this
for
the
in-game
plan,
that
is
simply
it
is
simply
not
a
issue
whatsoever.
It's
like
completely
solved.
I
would
argue
right,
and
so
the
number
one
thing
is
that
maker
is
sort
of
sovereign
over
all
the
metadials,
in
a
sense
right.
A
What
that
means
is
like
the
metadials
run
on
maker's
governance
infrastructure,
so
they
actually
don't
have
like,
and
it
can
be
compared
to
like
how
every
single
pretty
much
every
single
other
default
protocol
out
there
on
the
maker
and
a
few
others
how
they
actually
run
right
where
the
reality
is,
they
have
a
token.
But
the
token
doesn't
it's
like
it's
just
it's
it's
like
dogecoin,
and
then
they
have
this.
You
know
snapshot
website
right
where
they
go
to
sort
of
pull
off
chain,
and
then
they
have
a
multisig
and
the
multistage.
A
They
actually
control
everything
and
they
run
everything
right
and
and
then
the
the
the
people
pull
with
a
snapshot,
and
then
they
basically
trust
them
all
like
well,
first
off
not
steal
the
money
and
then
do
whatever
they
tell
them
to
right,
but
the
multisig
also
plays
this
extremely
crucial
world.
That's
why
they're
all
doing
this
of
protecting
against
governance
attacks
right.
That's
like
this
big
conundrum
that
any
new
d5
project
has
it's
like.
A
They
have
this
like
impossible
issue
of
governance,
attacks
right
and
governance
breakdown,
basically,
and
so
maker
basically
plays
the
role
of
the
multisig
right,
so
the
metadials
they
actually
don't
like
the
tokens,
literally
don't
like
like
do
anything
they
literally
just
ec20
tokens
and
instead
of
hooking
into
a
technical
infrastructure
they
hook
into
the
mip
system,
so
maker.
Basically
have
these
like
mip
bound.
A
You
know,
like
sort
of
like
services
you
could
say
to
to
the
metadowns
right
so
maker
holds
the
treasury
holds
all
of
their
like
controls,
all
of
their
authority,
all
the
infrastructure
and,
of
course,
over
time.
Eventually
you
could.
Actually
you
could
sort
of.
You
could
make
this
more
advanced.
You
could
make
it
so
maker
doesn't
directly
like
make
it
doesn't
control
it
maker
has
some
kind
of
you
know
like
what
do
you
call
it
like
multi?
A
I
mean
you
know,
escrow
kind
of
role,
almost
right
where
they
make
they
can
do
all
this
stuff,
super
fast
and
so
on,
but
maker
has
the
ability
to
basically
step
in
if
something's
I
mean.
First
of
all,
this
is
a
governance
attack,
but
then
also.
Secondly,
this
is
how
you
can
regulate
all
these
weird
things
of
like
governor
diaz
should
not
run
a
metadata
landing
engine
because
they
sit,
and
basically
you
know
advise
on
how
much
to
allocate
to
each
metadata
like
the
engine
right.
So
there's
a
conflicting
interest
there
and
reformer.
A
Does
they
can't
branch
out
all
sorts
of
other
stuff?
They
focus
only
on
legal
stuff,
because
we
don't
want
entanglement
of
the
legal
stuff
with
the
decentralized
stuff
right,
because
it's
like
different
levels
of
of
complexity
and
safer
created
us.
We
don't.
We
want
them
to
remain
fully
decentralized
exposure
right.
We
don't
accept,
created
ours,
giving
us
legal
exposure
right.
We
want
to
very
specifically
put
that
into
the
the
reform
announce
you
even
have
stuff.
Like
I
mean
you
can
have
some
really
crazy
stuff
right.
A
You
could
have
things
like
you
know
like
the
ability
to
profit
from
releasing
open
source
software
right,
so
you
could
actually,
through
mips,
create
rules
around
what
if
one
metadata
builds
a
whatever
system.
That
is
super
awesome,
oops
super
awesome
code
and
they
release
it
and
start
running
it
and
they
get
a
bunch
of
users
and
they
start
making
money
from
that
and
then
every
single
other.
A
You
know
open
source,
no
weird
patents
or
a
crap
right.
It
could
be
a
bunch
of
anonymous
developers
because
you
can
simply
have
a
rule
that
says
you
know
in
the
you
know:
that's
enshrined
in
a
mip
that
says
something
like
if
metadata
copy
pastes
another
metadose
innovation,
then
you
know
there
is
some
kind
of
revenue
share
of
blah
blah,
whatever
right
some
reasonable
amount,
so
that,
if
you
copy
paste-
and
you
do
all
the
growth
you
bring
all
the
users
well,
then
you
should.
A
You
should
benefit
from
that,
but
if
you
do
all
the
upfront
investment,
you
take
all
the
risk
of
developing
this
thing.
You
should
also
benefit
from
that
right
and
then.
Finally,
that's
this.
You
know
this
sort
of
sovereignty
of
major
is
also
the
thing
that
just
means
that
metadata
they
basically
they
can
never
harm
maker.
A
Well,
now,
we'll
let
you
be
independent,
but
then
we
you
know
we
want
to
take
whatever
most
of
your
treasury
or
something
like
that
right,
because
in
the
end,
you
know,
the
only
reason
why
you
have
value
is
because
we
incubated
you
right
and
the
terms
were
exactly
you.
Basically,
you
know
we
run
your
governance
right.
We
control
your
governance
and,
and
if
you
want
to
divorce
right,
the
terms
are
we
can
get
take
whatever
you
want
from
yourself
right
and
so.
A
Yeah
like
so
so,
I
think
that's
just
really
important
to
point
out
right
that
there's
like
this
whole
thing
of
like
well
and
then
okay
and
then
sorry,
the
other
thing
I'll
be
very
quick
right,
but
then
the
other
thing
is
there
could
still
be
like
friction
between
things
like
the
tokenomics
and
how
they
interact
and
sort
of
like.
Is
it
fair
who's
giving
enough
value?
A
Is
it
fair
that
the
metadown
has
to
blah
blah
and
maker
has
to
blah
blah
and
that's
actually
where
having
sort
of
un
sort
of
kind
of
like?
Well,
it's
basically
like
tokenomics
that
you
cannot
theorycraft
and
sort
of
fully
solved.
So
I
guess
you
could
say
unsolvable
tokenomics.
So
what
that
basically
means
is.
You
can
never
be
in
a
position
where
you
can
sort
of
make
some
kind
of
equation
and
then
be
like
okay.
Well,
this
is
right.
A
This
is
unfair
compared
to
some
other
situation
over
there
or
something
like
that
right
and
as
long
as
you,
you
don't
have
that,
then
you
basically
like
that
would
be
the
basis
for
some
kind
of
fundamental
dispute
and
some
kind
of
desire,
for
you
know
a
change
of
the
of
the
relationship
right.
But
if
you're
basically
never
able
to
figure
out
what
the
current
relationship
is,
then
it's
fully
ossified,
because
then
everyone
will
have
their
own
idea
of
what
it
is.
A
And
that
means,
if
you're
trying
to
change
it,
then
you'll
always
like
there'll,
always
be
tons
of
people
that
don't
like
you
know.
No
one
will
have
the
same
comparison
of
the
two
things
and
then
things
simply
can't
change.
So
then
you
sort
of
lock
it
down
and
that's
a
way
to
de-risk
kind
of
the
weird
incentives
and
interactions
that
could
otherwise
happen.
A
A
M0,
like
the
metadata
concept,
could
be
a
success,
even
if
m0
crashes
and
burns.
If
this,
if
the
decision
is
to
take
some
crazy
risk
with
it
right
because,
basically
nobody's
buying
this
token
right,
it's
you're
getting
it
for
free.
So
it's
completely
reasonable
to
say:
let's
take
some
crazy
risk
with
it
and
see
what
happens.
Basically,
of
course,
I
guess
it
would
be
just
decidable
that
didn't
happen,
and
I
think,
if
you're
lining
it
up
with
things
like
deco
protocol,
like
I
mean
that
I
think
that
would
be
very
unlikely
right.
A
A
You
know
if
if
m0
survives
and
has
any
sort
of
value,
and
then
it
results
in
this
driver
of
of
growth
in
maker
because
of
the
yield
farming,
then
that's
basically
what
I
think
is
like,
then,
if
we
can
do
it
once
and
we
can
replicate
it,
I
mean,
then
it's
worth
it
to
keep
doing
it
right.
If
we,
if
for
us
it's
when
the
cost
for
of
doing
that,
is
really
low
for
us,
then
I
think
basically
there's
a
that's
a
strong
argument
to
to
keep
doing
it.
A
So
then
my
initial
plans,
I
actually
changed
this
like
I
came
up
with
like
an
even
I
think,
an
even
more
interesting
plan
right,
but
so
the
initial
plan,
as
a
road
map
for
this
was
the
call
is
like
one,
two,
three
and
then
automatic
basis.
The
idea
is
that
we
would
manually
deploy
three
metadows
and
then
we
would
get
into
the
long
term
state
where
then
they
start
to
get
automatically
deployed,
which
is
really
desirable
because
maker
everything
in
maker
supposed
wants
to
be
automatic,
so
you
really
benefit
you
know.
A
Metadata
should
really
be
this
thing
that
just
keep
emerging
out
of
maker,
but
we
with
these
initial
three
ones
would
be
sort
of
very
carefully
done,
because,
basically
you
do
the
first
one
to
validate
whether
the
contribution
works
and
then,
if
it
works,
then
then
I
you
know.
The
next
step
that
might
make
sense
is
then
install
the
governance.
So
that
means
that's
this
massive
restructuring
process
of
the
core
units.
A
Basically,
right,
where
you
add
this
really
significant
layer
of
of
you
know,
guarantees
and
around
best
practice
that
should
last
forever
and
you
have
two
of
them,
because
that's
how
you
enforce
redundancy
and
decentralization
right,
because,
basically
you
you
create
two
redundant
independent
layers.
Basically,
that
can
do
that,
can
sort
of
manage
the
bureaucracy
you're
making
right.
So
you
you
completely
right
away,
eliminate
the
possibility
of
bureaucratic
failure
of
the
decentralized
workforce
and
yeah,
mostly
what
they
do
is
basically
think
of
like
managing
the
coins.
They
also
do.
A
And
then
m3,
so
this
would
be
the
beginning
of
sort
of
the
long
term
thing.
That's
where
and
in
the
paradigm,
where
now
we
are,
we
are
committed
to
the
end
game
plan,
the
metadata
right.
So
then
we
do
this
sort
of
irreversible,
continuous
creation
of
metadows
over
time
through
some
kind
of
automatic
system,
then
we
would
get
into
dow
quests
so
basically
down
quests.
Is
this
this?
The
way
to
basically,
you
know,
create
a
metadata.
A
A
You
know
some
of
the
the
key
developers
right
and
then
they
basically
keep
working
as
they
already
are,
but
they
get
a
higher
budget
and
they
get
mad
at
our
tokens,
so
they
basically
just
get
up
a
raise
like
they
basically
just
get
more
resources
available
to
them,
but
then
they
also,
you
know,
are
now
in
a
dial
that
has
a
direct
exposure
to
to
to
like.
Initially,
it
will
be
very
light,
obviously,
but
over
this
sort
of,
but
basically
this
sort
of
expectation
setting
where
the
dow
is
basically
almost
like.
A
But
basically
the
idea
is
in
the
endgame
plane
maker
starts
to
like
it
keeps
burning,
but
it
also
starts
emitting
mkr.
So
it
basically
bur
you
know
so.
Instead
of
taking
npr
off
the
table,
it
basically
sort
of
circulates
it
through
the
system
and
then
one
of
the
ways
it
circulates
through
the
system
is
to
actually
provide
it
to
metadatas
as
these
dial
quests
and
then
there's
this
whole
thing
about
elixir
and
again
this
alexia
walls
and
advanced
metadata
economics.
A
That
means
that
maker
benefits
like
metadas
gain
value
but
maker
actually
keeps
the
value
as
well.
You
have
this
shared
value
between
metadata
and
maker
in
terms
of
how
they
keep
their
treasury,
but
that
was
sort
of
right.
So
this
would
be
the
point
where
we
could
start
saying.
Okay,
let's
get
this
massively,
you
know
ambitious
feature
and
I
sort
of
lock
it
in
by
creating
an
entire
now
structured
around
making.
A
It
happen
right,
giving
it
a
talent
giving
them
the
resources,
give
them
the
objective
and
then
also
figure
out
what
other
stuff
they
can
do
with
it
right,
so
they
can
sort
of
go
through
the
same
process
of
any
other
creator.
Then,
like
figure
out,
what
can
they
then
use
the
talent
for
the
resources
for,
for
instance,
right
and
what
can
they
do
with
the
front
end
and
oracles,
and
all
this
other
basic
stuff?
You
know
metadata
landing
engine
and
so
on.
A
Okay,
then,
there's
a
reformat
us.
This
is
the
last
part,
but
so
this,
what
was
suggested
to
me
was
that
the
reformer
does
so
well,
so,
basically
right
so
the
governor
dowse
and
the
second
creator,
dow
that
actually
runs
maker
level,
coordinates
and
does
this
dow
quest
stuff
like
these
once
you
start
doing
anything
like
this,
the
in-game
plan
has
basically
become
irreversible,
but
reformer
dials
actually
are
still
reversible
because
they
don't
they.
Actually
they
have.
A
They
also
have
the
same
sort
of
one-way
relationship
situation
going
on
right,
where
they
don't
sort
of
like
make
her
lend
some
money,
but
they
can
also
sort
of
unwind
that
back,
potentially
right
and
and
there's
no
interaction
with
governance
going
the
other
way,
and
so
potentially
we
could
actually
launch
like
three
proof
of
concept
very
close
to
each
other
right,
so
we
could
launch
m0,
but
then
we
have
m1
and
then
two
that
are
these
reformer,
meta
dials.
In
order
to
actually
get
they,
you
know
they.
A
Allow
us
to
to
get
back
into
real
assets
a
lot
sooner
to
do
this,
but
at
the
same
time
it
wouldn't
it
would
still
allow
like,
even
if
we're
doing
three
metadatas
all
at
once,
it
would
still
be
reversible
and
will
still
be
very
cheap
and
potentially
like
the
so
I
I'm
so
this.
At
this
point
I
actually
think
it's
the
like.
I
think
this
is
most
appealing
plan
and
the
biggest
question
is
like:
how
long
do
you
want
to
you
know
you?
Can
you
can
wait
you
can?
A
But
with
these
you
could
go
a
lot
closer
and
then,
at
the
same
time
you
could
suffer
less
of
this.
You
know
like
this
thing.
That's
the
downside
of
basically
admitting
defeat
in
real
assets
now
right,
which
is
that
there's
gonna
be
a
lot
of
counterparties.
That
are,
I
mean
that
they're
already
on
hold
and
they've
been
on
hold
forever,
but
now
we
have
to
basically
make
it
official
that
we
really,
you
know,
don't
really
have
the
ability
to
do
this,
but
the
reformer
dials.
A
There
is
a
new
realistic
shot
at
trying
to
make
it
work
right
and-
and
I
think
it's
very
important-
we
do
two
of
them
because,
basically
I
think
that
any
time
you
try
to
make
it
realize
it
down,
there's
a
real
chance.
It
will
it
will,
it
will
die
like
it
will,
sort
of
it
will
politicize
and
and
the
governance
will
simply
fail.
A
But
if
you
have
multiples
of
them,
then
you
can
have
this
evolutionary
process
where
some
of
them
will
survive
right.
You'll
have
sort
of
survival
of
the
fittest,
and
I
think
that
could
be
pretty
that
could
get
us
back
to
sort
of
this
more
dial,
singularity
vibe
as
well
right
where
we
can
really
show
our
crazy
power
of
just
like
we
can
just
mass
produce
these
things.
The
cost
is
almost
nothing
because
we
have
the
you
know:
we
have
the
counterparties,
we
have
the
arrangers.
A
A
You
know
d3m
simulation
approach
right
where,
because
maker
run
holds
the
treasury
anyway,
maker
can
actually
also
literally
run
the
vaults
with
the
maker
molding,
and
so
it's
actually
classic
style,
real
acid
onboarding
that
we
do
on
maker,
the
maker
protocol
initially,
but
the
governance
of
how
to
get
to
that
is
done
through
the
metadata
and
then,
most
importantly,
the
metadow
has
a
pile
of
collateral
that
it
it
does
credit
enhancement
with
right.
So
there
is
this
alignment
of
incentive
and
skin
again.
A
Then
one
question
here:
m0
is
a
part
of
the
core
maker
business
or
a
bit
in
the
alphabet,
and
so
all
of
the
metadatas
are
bits.
Are
alpha
bits
right.
So
all
of
the
metadatas
are
attempts
to
massively
outperform
the
market,
and
maybe
some
of
them
are
these.
You
know,
I
guess
especially
government
house-
are
these
more,
like
actually
pretty
sort
of
low
risk,
low
reward
types
of
bets
as
well
right,
that's
more
about
building
out
infrastructure
that
make
it
needs.
I
guess
the
reformer
now
is
also
like
low
they're.