►
Description
https://forum.makerdao.com/t/endgame-approval-mip-set-next-steps/17553
Discussion of the Endgame Approval MIP Set proposed on the forum before next Wednesday. Together, if all of them are approved (Except the optional LDO OTC swap MIP), they will trigger the Endgame Plan Pregame phase according to the Endgame Plan v3 Overview 24 forum post.
https://forum.makerdao.com/t/endgame-plan-v3-complete-overview/17427
A
A
Thank
you
thanks
Thomas
yeah,
so,
like
I
said
in
the
in
my
Forum
post,
the
main
topic
of
the
day
is,
of
course,
this
big
next
steps
post
that
I
finally
made
right.
That's
on
the
Forum
now
that,
like
for
the
first
time,
makes
it
super
concrete
what
you
know
what's
going
to
be
the
process
to
decide
if
the
in-game
plan
actually
happens
right
and
then
what
does
it
look
like
in
terms
of
the
immediate
next
steps
and
that's
kind
of
mostly
what
you
know?
A
A
Yeah
and
like
so
one
thing,
I
will
not
talk
about
I
mean
so
what
I
noticed
is
immediately
as
far
as
you
can
tell
I
haven't
I
haven't
had
much
time
since
I
like
yeah.
It
looks
like
almost
all
the
you
know
looks
like
I
guess
the
explanations
are
pretty
clear
in
terms
of
what
it's
like.
You
know,
it's
quite
clear.
What
exactly
is
happening
here
and
the
main
questions
are
related
to
my
own
voting.
A
A
A
What
you
call
it
Butterfly
Effect,
almost
right
so
as
a
result,
I
need
to
be
a
little
bit
careful
about
what
kind
of
signals
I
sended
before
I've
kind
of
made
sure
I've
spoken
to
everyone
that
that
yeah
right,
like
you
know
it's,
you
always
need
to
be
careful.
How
to
communicate
over
the
internet.
People
can
get
sort
of
the
wrong
impression.
A
Okay,
so
I
hope
that
that
sets
the
context
that
basically,
the
main
the
most
pressing
question
of,
like
am
I
gonna
vote
for
the
Lido,
am
I
gonna
vote
for
this
or
that
I
haven't
got
a
delegate
and
we're
gonna
have
all
that
stuff.
That
I'll
need
to
basically
carefully
consider
how
I
communicate
that
before
I
make
a
statement
on
it.
A
A
Yeah,
but
basically
right,
this
is
a
so.
This
is
the
big
vote
for
the
end
game
plan,
and
really
this
is
like
the
to
a
large
extent.
I
mean
I've
talked
about
this
in
the
past
right
that,
like
the
Indian
plan,
was
always
this
kind
of
last
last
Stitch
ever
to
to
save
maker
right
and
then
originally
there
was
this
like
clear
look.
A
So
this
is
now
like
the
this
big
and
what
that
basically
means
is
now
there's
like
this.
You
know
now
there's
this
much
greater
kind
of
clarity
in
a
sense
of
like
then
we
can
basically
just
go
ahead
and
see
if
we
can
vote
the
plan
through
or
not,
basically,
and
and
essentially,
most
likely,
if,
if
this
mipset
is
rejected,
which
would
actually
mean
a
rejection
of
any
of
these
mips,
except
for
the
like,
the
only
exception
that
this
wouldn't
apply
to
is
the
this.
A
Is
the
optional
Lido
swap
thing,
but
all
the
other
ones,
if
just
one
of
them
failed.
That
would
basically
be
a
rejection
of
the
Indian
plan
right
that
would
be
like.
Then
it
wouldn't
it
like
it.
You
know
my
what
I
would
probably
still
attempt
to
then
figure
out
if
there's
some
obvious
thing
wrong,
that
will
that
will
change
the
level
of
support
from
some.
A
You
know
key
whales
or
something
right
like
for
some
some
real
concrete
reason.
That's
actually
reasonable
right
and
can
be
accommodated,
and
then
we
can
try
again
and
but
most
likely
it's
going
to
be
the
you
know
already.
Then
we
it's
it's
looking
a
lot
like
overall,
a
lot
weaker
right,
because
then
you
you
it'll,
be
much.
You
know
you
it's
much
less
clear
how
stable
the
The
Meta
will
actually
be
right.
So
it's
really
all
about
the
first
vote
is
going
to
be
the
big
big
moment
right.
So
that's
really
exciting.
A
That's
that's
what
they're
basically
been
preparing
for
for
like
a
year
now,
and
it
also
actually
this
thing
of
like
having
it
be.
This
approval
MIP,
rather
than
some
kind
of
like
non-binding
feeling
it
out
kind
of
thing-
is
that
quite
early
in
the
process,
I
realized,
actually
that,
even
if
you
have
a
kind
of
non-binding,
whatever
thing
that
will
still
in
practice
play
99
of
the
role
as
that
an
actual
approval
map
would
play
so
you
may
as
well
just
have
this
kind
of
like
full
commitment
approach.
A
Language
that
gets
all
this
stuff
done
and
yeah
and
again,
and
then
they
will
be
like
the
way
you
design
a
myth
set
is
you
have
them
be
depend
on
each
other?
Basically,
so
what
that
means
is
like
they
would
all
have
like
each
other's
independency,
possibly
some
of
like
there's
some
pieces
that
maybe
wouldn't
I
mean
even
if
they
wouldn't
trigger
the
in-game
plan.
A
But
then
the
mips
themselves
are
edit.
Will
you
know
it's
possible
to
edit
them
right
up
until
I
guess
something
like
the
last
week
of
September
so
there'll,
be
this
like
this
next
process
will
be
this
like
iteration
and
doing
a
lot
of
work
on
the
maps
based
on
all
sorts
of
feedback
and
whatever
people
basically
think
is
important.
I
mean
there's
and-
and
you
know
we'll
get
into
that-
there's
some
of
them.
That
will
be
really
important.
That
will
you
know
where
you
kind
of
want
to
get.
A
A
I
was
just
sort
of
like
the
way
I
will
sort
of
think
of
it
is
that
there
simply
isn't
a
stable
manner
possible
in
that
sense,
right
that
I
can't
make
it
I
can't
get
to
something
that
to
me,
looks
like
a
stable
equilibrium
and
massive
and
sort
of
hard
decisions.
Around
budget
reduction
is
critical
to
that
right
and
like
getting
an
aligned
team
is,
is
crucial,
so
it's
not
just
I
mean
there's
actually
they're
sort
of
steps
beyond
that.
That
then
also
have
to
succeed.
A
Beyond
just
off-boarding
some
some
coordinates
in
terms
of
budget
reduction,
but
of
course
the
big
difference
is
if
the
mips,
if
the,
if
the
approval
map
slip
has
already
passed,
then
suddenly
the
the
following
budget
reduction
actions
will
be
like
you
can
sort
of
count
on
them,
also
happening
because,
like
there's,
it
seems
very
unlikely
that
you
would
have
I
mean
I
mean
it's.
Actually
it's
one
of
the
biggest
risks
to
all
of
this
is
that
you
have
a
kind
of
we
go
into.
A
In-Game
approval
might
be
going
to
sort
of
pregame
and
then
in
the
pre-game.
Suddenly
we
have
all
these
like
unpredictable
votes
and
that
could
that
could
kill
the
project
even
more
than
stagnating
in
the
status
quo.
I
think
so
that's
that's.
Basically
one
of
the
risks
we're
taking
and
we
just
have
to
sort
of
hope
that
doesn't
happen
by
well
I'm,
not
just
hope
it
doesn't,
but
also
kind
of
you
know
decisively
get
people
to
vote
right
and
and
either
pass
it
overwhelmingly
or
make
sure
it.
It
loses
right.
A
A
So
they're,
not
I
mean
they're
not
done
as
in
like
I.
Don't
have
them
ready
to
go
in
the
Forum
I
do
have
like
the
I
mean.
You
can
actually
like
a
lot
of
the
bullets
here,
they're
kind
of
like
they're,
the
starting
point
for
the
actual
mips
themselves
in
terms
of
the
components
but
I
already
I
mean
I.
A
A
Okay,
so
there's
a
question
from
dear
diligent:
you
were
telling
that
if
any
MIP
fails
to
get
approval,
you
would
go
through
some
edits
and
iteration
is
this
a
goal
we
should
be
moving
towards
if
we
take
an
analogy
that
we
need
to
find
a
direction
and
then
the
path?
So
this
is
this
end
game
plan
a
direction
or
some
salt.
A
Yeah
I
mean
so
most
likely.
What
will
happen
like
most
likely?
There
is
a
majority
in
favor
of
the
end
game
plan,
so
the
overall
concept,
including
metadars
and
resilience
and
budget
cuts
and
either
die,
and
all
this
stuff
or
you
know
or
not
right
now,
there's
a
there's,
not
a
majority,
there's
a
or
there's
a
majority
against
it,
basically
but
activity
majority
against
right
and
there's
a
small
chance
that
there's
an
active
voting
majority
against
it
because
they
have
some
kind
of
they
actually
support
the
concept.
A
A
almost
like
a
pathological
sign
right,
because
that
would
mean
you
know
a
significant
majority
of
support
for
the
status
quo,
which
is,
from
my
perspective,
total
stagnation
and,
and
you
know,
sort
of
slow
death
for
mkr
right,
which
is
back
to
this
whole
thing
of
like
the
Indian
plan.
Being
this
big
sort
of
now,
we
need
to
either
fix
it
or
we
need
to
just
give
up.
A
If,
if
we
don't
win
the
first
vote,
then
suddenly
the
probability
of
things
actually
working
out
gets
much
lower
right,
because
most
likely
it
could
be
like
I
mean
there's
a
lot
of
the
sense
in
them.
I'm
like
oh,
can
we
just
use
some
parts
of
it
and
so
on,
which
basically
is
like
that's
just
as
bad
as
staying
in
the
status
quo?
A
Launching
The
Meta
Dallas
is
suicide
like
we
don't
have
the
resources
for
that,
for
instance,
right
and
then
you
know
that
like
I
would
never
agree
to
that
basically
like.
If
someone
wants
to
do
something
like
that,
then
I'm
I
would
rather
just
walk
away.
Basically
right
so
I
would
never
you
know
I
wouldn't
like
try
to
save
something
that
simply
cannot
be
saved
basically,
but
I
will,
of
course,
do
my
best
to
try
to
get
some
kind
of
sensible
outcome.
A
That's
gonna,
improve
the
world
right
and
make
make
a
really
awesome
and
get
a
get
us.
Some
great
results,
right,
yeah,
and
so
when
was
patient
is
saying
here
in
the
chat
right.
Is
that
this
thing
of
like
putting
unfinished
stuff
to
RC
and
then
finishing
it
and
for
formalizing?
That's
a
normal
process
right
and
the
important
thing
is
when
it
goes
to
RC.
A
The
intent
is
clear
right
and
hopefully
the
intent
is
already
completely
clear
from
from
this
post,
but
you
know,
but
that's
what
I
will
go
through
now.
So
we
really
understand
exactly
what
we're
talking
about
here
right,
okay,
so
the
first
whip,
let's
sort
of
ordered
as
number
one,
because
this
is
just
what
I
think
is
the
most.
A
What
do
you
call
it
outstanding
or
sort
of
interesting
or
important
of
the
mips?
Basically,
and
so
that's
the
thing,
that's
sort
of
like
basically
launches
The,
Meta
dials
in
a
sense
right
or
makes
the
metadata
does
a
lot
more
real
than
what
they
what
they
have
been
so
far
right,
and
so
basically
what
it
does
is
it.
A
It
creates
this
concept
of
these
the
metadata
clusters,
which
actually
the
Clusters,
are
actually
already
groups
that
exist
now,
but
sort
of
informally
and
and
kind
of
you
know
a
still
on
a
kind
of
like
a
small
scale
basis
of
preparing
these,
like
you
know,
theoretical
business
cases.
Essentially,
what
could
a
metadata
look
like
right,
which
in
many
cases
actually
at
least
in
some
cases,
is
an
evolution
of
like
processes
that
already
was
happening
in
the
past
in
maker,
in
the
in
the
workforce
of
like
how
to
make
this?
A
How
to
sort
of
on,
like
you
know
on
I,
mean
how
to
kind
of
like
Get
over
the
hurdles
that
we're
constantly
running
into
inside
the
workforce
right,
because
the
workforce
has
not
been
been
working
very
efficient.
You
know
efficiently
so
far,
right
and
so
there's
already
been
a
bunch
of
processes
of
like
how
to
make
it
better
how
to
make
it
so,
instead
of
being
silos,
how
to
turn
it
into
projects
and
all
this
stuff.
A
And
then
some
of
these
meta
dials
are
like
actually
just
those
existing
processes
and
then
just
like
the
then,
with
the
added
thought
process
of
what
happens.
If
you
put
a
token
around
it,
basically
and
others
are
like
completely
new
ideas
and
like
small
groups
that
basically
have
some
Vision
based
on
the
opportunity
to
do
the
thing
they
always
wanted
to
do
and
now,
finally,
they
can
be
set
free
and
just
kick
ass
without
being
held
down
by
the
bureaucracy.
A
It
went
right,
and
so
then
this
map
would
sort
of
formalize
that
right
or
like
yeah
like
formalize
it
and
what
you
call
it
empowered,
essentially
right,
so
that
it
actually
becomes
like
the
main
job
of
these
people.
Instead
of
now,
where
it's
kind
of
like
a
side
project
right
and
the
key
to
like
a
cluster
is
to
have
you
need
to
have
a
facilitator
right.
A
So
there
needs
to
be
someone
who's
kind
of
like
the
person
in
the
cluster
that
ultimately
will
represent
the
cluster
to
the
metadata
and
also
to
maker
governance.
Just
like
an
accordion
right,
so
coordinate
can't
exist
without
a
facilitator,
because
you
need
to
have
somebody
who's
like
this
is
the
one
I
trust
with
the
budget
right.
So
the
same
thing
is
the
case
in
the
in
the
in
the
metadata
clusters,
and
but
yeah
like
I,
said
amazingly.
Actually,
they
already
are
actually
I.
A
Think
like
facilities
in
place
for
like
almost
all
of
them,
or
at
least
like
there's,
a
good
there's.
It
seems
quite
likely
that
there
will
be
facilitators
and
fully
fleshed
out
clusters
for
all
of
these,
like
basically
for
all
of
the
launch,
metadats
and
then
and
then
what
are?
The
launch
manifests
right,
and
this
has
actually
changed
and
it
might
even
change
again
because
kind
of
surprisingly
there's,
like
an
overwhelming
amount
of
kind
of
interest
and
and
Innovation
happening
related
to
the
clustering
of
the
metados.
A
A
If
you
have
the
cluster
already
like
the
difficult
part,
as
everyone
knows,
if
they
know
you
know,
they're
we're
like
startups
or
entrepreneurship
or
or
Tech
really
right,
it's
always
about
the
team
right.
And
so,
if
you
have
a
team,
then
that's
pretty
much.
It
then
like
the
structure,
which
sometimes
is
a
problem
in
the
real
world.
That's
like
a
complete
non-issue
in
crypto
right,
that's
just
copy
pasting,
some
code!
Then
you
have
the
token.
Then
you
have
the
Forum.
Then
you
have
the
Discord.
A
You
know
you
can
reuse
all
this
stuff
and
yeah
and
that's
I
mean
that's
a
part
of
the
power
of
this
right.
So
then,
anyway,
so
then
this
this
recognized,
launch
metadata
cluster
MIP
kind
of
like
yeah,
like
I,
said
right,
sort
of
formalizes
it
right
and
it
Powers
it
and
kind
of
like
creates
a
sense
of
who's
in
and
who's
out
in
a
sense
right.
So
you
can
get
a
sort
of
commitment
for
maker
governance
that
you
will
actually
get
the
resources
to
actually
create
a
meta
tile
right.
A
So
you
can
get
full
commitment
from
these
teams
right,
so
you
could
also
I
mean.
Not
only
could
it
change
over
the
next
month
if
another
high
quality
cluster
emerges-
or
maybe
one
of
the
existing
clusters
turns
out,
it
can't
do
it
after
all
right
or
something,
but
it
could
even
change
after
the
approval
map
has
happened
in
some
rare
cases.
Of
course,
there's
a
kind
of
cutoff
point.
A
Where,
like
you
can
you
know
you'd
rather
wait
like
you'll,
stick
with
the
launch
method,
as
you
have
now,
and
then,
instead
of
creating
another
launch
beta
now
you
simply
want
this
new
cluster
to
a
cluster,
to
whatever
the
the
first
organic
matter
that
right,
the
first
metadata
comes
after
the
launch.
Melodies
have
themselves
bootstrap
right
and
then,
and
also
we
like
it's
hard
to
go
below
two
Governors
and
two
protectors
and
one
Creator.
But
you
could
go
all
the
way
down
to
like
only
five
and
have
one
Creator
to
protect
his
two
governments.
A
A
If
my
theory
is,
is
correct,
then
this
is
like
free
value
that
has
been
created
because
the
new
token
that's
been,
you
know
the
resources
that
the
new
token
takes
will
be
a
lot
less
than
the
actual
value
of
that
token,
because
it's
it's
sort
of
wrapping
and
like
an
entire
kind
of
unique
meta
and
a
team
and
the
business
case
and
all
this
stuff.
But
there's
really
like
there's
a
lot
of
you
get
a
lot
of
value
out
of
like
a
legit
dial
right.
That
actually
has
a
reason
to
exist.
A
These
clusters,
with
these
core
units
and
and
and
so
for
in
deco's
case
this
is
really
about.
You
know,
I
mean
this.
Is
this
there's
been
sort
of
going
back
and
forth
about
what
would
actually
happen
with
Deco,
but
now
the
final
outcome
is
The.
Deco
will
I
mean,
of
course
it
could
subject
to
change,
but
likely
will
actually
cluster.
A
It
like
be
like
an
internal
cluster,
so
basically
set
up
a
metadata
from
the
inside
and
commit
to
that
for,
like
a
couple
of
years
and
basically
bootstrap
an
actual
metadata
from
the
ground
and
then
build
it
around
I
mean
yeah
I
mean
they're.
They
can
do
their
own
kind
of
Pitch
at
some
point
right
for
the
the
vision
for
the,
but
that
would
this
this.
A
This
map
explicitly
finds
that,
because
it's
possible
to
do
that
cleanly
because
then
The
Deco
coordinate
the
entire
coordinate,
will
only
do
this.
Basically
that'll
be
the
the
the
role
of
the
coinage
following
getting
this
this
this
cluster
attached
to
it
and
then
for
strategic
Finance.
It's
a
little
bit
more
complicated
because
basically
it's
about
ensuring
continuity
of
real
assets
and
in
doing
that,
making
sure
that
continuity
naturally
is
done
in
the
Paradigm
of
the
meta
house
right,
so
that
we
don't
have
this
interim
process.
A
That
then,
has
to
change
one
more
time
again
when
the
metadats
go
into
play
right.
So
instead,
let's
actually
Finance,
coordinate,
Will,
sort
of
incubate
and
protector
cluster
and
in
fact,
also
kind
of
represent
another.
The
other
protective
cluster
as
well,
because
the
Strategic
Finance
coin
will
be
the
only
place
that
has
this
verbal
asset
mandate
and
taking
it
over
from
from
The
Real
World
Finance
core
unit,
which
was
being
proposed
to
to
be
off
water
right,
and
that
this
map
will
depend
on
that.
A
So
this
map
will
not
go
into
Force
if
the
real
or
Finance
coordinate
is
northbounded,
but
and
anyway,
that
couldn't
you
know
the
game
theory
based
on
what
I've
just
said,
the
game
theory
of
something
like
that
is,
it
should
be
impossible
right.
You
would
not
have
someone
who
then
votes
for
one
and
doesn't
work
for
the
other,
for
instance,.
A
And
then
the
FI,
the
remaining
five
recognized,
launch
metadata
clusters.
They
basically
they're
not
so
easy
to
attach
because
they're
sort
of
like
people
that
are
working
sort
of
in
there
in
the
spare
time,
basically
on
this
across
the
decentralized
workforce,
and
then
I
mean
after
that,
I've
looked
at
many
different
ways
to
try
to
how
to
make
how
to
kind
of
like
make
this
work.
And
the
conclusion
is
the
simplest
and
least
disruptive.
A
Is
that
then
you
just
stay
where
you
are
kind
of
you,
don't
try
to
move
people
around
and
and
mess
around,
but
rather
you
you
you're
sort
of
like
lit
I
mean
I
call.
Let
them
float
right,
so
they
simply,
they
will
say
they
sort
of
emerge
out
of
the
structures
already
there
and
then
it
they
can
very
slowly
formalize
the
cluster
over
time,
rather
than
being
sort
of
pushed
into
it
in
one
go
which
could
disrupt
all
sorts
of
stuff
in
the
in
the
transition.
A
A
So
that's
a
really
big
one,
because
that's
the
actual
creation
of
the
metadata
right,
so
the
Clusters
are
just
the
workforce,
but,
like
the
actual,
the
workforce
is
useless
if
they
don't
have
tone
holders
to
oversee
and
govern
the
workforce
and
the
token
holders
they
basically
cluster
through.
You
know,
through
meta
versus
social
media,
whatever
right
through
through
some
way
for
people
to
basically
find
the
community.
They
like
right
so
I
mean
that's
one
of
the
most
exciting
part
of
I.
A
Think
like
once,
you
have
the
forums
and
the
discords
in
place.
That's
when
I
think
it
unlocks
it
locks
in.
Basically,
if
you
both
have
like
talented
teams
with
exciting
and
valuable
and
and
logical
business
models
and
they're
gonna
also
have
a
place
for
like
like-minded
people
to
get
together
in
these
small
groups
getting
into
the
ground
level
right
and
trying
to
build
it
down
from
the
ground.
Up
that
actually
makes
sense.
A
A
So
that's
sort
of
the
most
exciting
part
of
it
in
a
sense
that,
once
you
have
the
Clusters
in
place,
then
you
can
actually
go
ahead
and
build
the
build
them.
You
know
build
a
sort
of
the
substrate
for
the
metadata
itself
to
actually
form
Okay,
so
Frank
asks.
Can
you
explain
how
some
code
will
be
monetized
and
not
copied?
How
will
the
licensing
be
enforced
order?
A
I,
guess
you're
talking
about
Plug
and
Play
protocols?
This
is
like
specific
type
of
of
product
like
business
model,
that's
possible
in
the
metadatic
system
and
basically,
like
you
can't
you
can
never
and
normally
you
know
you
can
never
do
that
with
open
source
code
right
and
people
don't
even
attempt
to
monetize
open
source
code
because
it
can't
be
done.
But
in
the
in
the
in-game
plan
in
this
metadata
paradigm,
I
mean
it's
I,
don't
know
it's
a
little
you
could.
A
You
can
think
a
little
bit
of
maker
as
like
a
network
state
or
something
right
or
to
use
another
analogy.
You're
like
we're,
basically
like
maker,
almost
like,
creates
This
legal
system.
It's
like
almost
like
a
jersey
like
a
decentralized
jurisdiction
with
like
a
legal
system
that
has
certain
rules
around
you.
You
know
like
like.
How
can
you
do
certain?
Like
you
know
something
like
you
know
how
you
have
to
like?
A
A
So
if
you're,
a
meta,
Dao,
Community
member,
you
have
some
kind
of
guarantee,
not
just
from
the
metadata
but
from
maker
that
there
will
not
be
this
like,
like
a
kind
of
slippery
slope,
into
a
single
black
box,
running
the
show
and
telling
everyone
trust
us
will
not
be
tolerated.
Basically,
that'll
not
be
that
can't
even
occur.
A
I
mean
it's
a
little
bit
like
the
legal
system
of
protections
right
that
exists
in
the
real
world
for
like
the
guarantees
you
have
when
you
buy
a
stock
or
something
right,
and
then
you
can
use
that
to
do
interesting.
Stuff
such
as
you
can
actually
monetize
open
source
code
right.
So
you
can.
You
can
create
a
system
where,
if
somebody
writes
open
source
code
and
allows
and
sets
up
in
a
way
so
metadata
can
integrate
it,
you
can
actually
have
them
Define.
A
If
somebody
uses
my
if
a
metadata
uses
my
open
source
code,
they
have
to
pay
me
50
Revenue,
share
everything.
Anything
they're
in
and
then
maker
can
actually
enforce
that
and
there's
no
way
the
metadata
can
get
out
of
it.
Actually,
so
that's
a
really
exciting,
like
that's
some
of
the
really
kind
of
like
next
level,
exciting
stuff,
that's
possible
or
metatars-
that
nothing
can
really
do
that
right
now,
I
mean
I.
Guess
you
I
mean.
A
Maybe
you
do
have
examples
of
like
open
source
code
that
gets
monetized
for
commercial
use
or
something
right
now,
but
I.
Think
in
fact,
like
the
thing
that's
kind
of
I
think
is
different
with
this
is
that
you
can
make
it
very
practical
of
like
you
build
it,
so
it
can
be
used
and
then
it
gets
used
and
then
there's
income
and
it's
on
the
blockchain,
and
it
goes
straight
to
your
wallet.
A
It's
so
clean
right
and
one
of
my
favorite
examples
is,
you
could
have
some
like
guy
and
you
know
a
Malaysia
or
whatever
some
random
country
fought.
You
know
far
away
from
from
the
UK
or
something
right
and
then
you
might
have
a
meta
dial
with
I
mean
you
might
have
some
guy
in
Malaysia
right,
like
a
plug-and-play
protocol,
write
some
program
for
a
metadata
to
use,
and
then
you
have
a
metadata
team
in
the
UK
integrate
that
and
the
guy
in
Malaysia.
He
just
he
writes
the
code.
A
He
uploads
it
to
GitHub.
He
puts
his
Revenue
share
percentage
and
his
ethereum
address,
and
he
never
ever
looks
back.
He
just
walks
away.
He
never
checks,
GitHub
or
whatever
anything
ever
again
and
that's
enough,
then
you
can
have
somebody
in
the
UK.
They
can
find
that
code.
They
can
put
it
in
the
meta,
Tower
and
all
the
game.
A
Theory
in
the
process
of
making
sure
that
they're
going
to
pay
out
that
Revenue
share
and
if
they
don't
make
it
we'll
enforce
it
and
they
will
just
be
in
an
even
it
will
sort
of
lose
money
if
they
don't
just
follow
the
rules
and
then,
if
they
don't
like
the
revenue
share
percentage,
they
just
don't
include
it.
It's
that
simple
right.
A
So
you
have
this
whole
new,
huge
incentive
for
people
to
build
like
write,
open
source
code
and
made
it
make
it
publicly
available
which,
by
giving
those
better
conditions
for
the
creators
to
build
us
right.
That
logically,
should
then
cause
all
the
builders
to
come
to
our
ecosystem
and
do
all
the
Innovation
with
us
right.
Suddenly
they
don't
have
to
like
launch
a
token
themselves
and
raise
money
and
deal
with
business
guys
and
whatever
they
can
just
write.
A
The
code
put
it
online
and
the
metadatas
will
take
care
of
the
distribution
and
the
the
fair
Revenue
share
and
maker
will
be
dislike,
neutral
Authority
that
that
facilitates
that
okay
next
question
is:
why
not
use
different
platforms,
then
Discord
and
forums,
and
the
answer
is
that
metadars
are
basically
copies
of
what
maker
is
today.
So
the
reason
is
that's
because
that's
what
we're
using
maker?
That's
how
what
we
I
mean!
A
We
need
to
really
figure
out
what
exactly
is
like
the
ideal
substrate
for
you
know
for
for
incubating
a
meta
down
and
creating
the
unique
meta
and
clustering
a
community,
and
you
know
the
better
the
more
we
figure
that
out-
and
you
know,
come
up
with
some
Technical
Solutions
that
that
do
this
sort
of
meta
engineering
right
that
really
sort
of
funnel
it
and
shape
it
in
the
perfect
or
not
the
perfect,
necessarily
the
perfect
way,
but
the
way
they
give
the
best
results.
The
better
right.
A
A
How
we
deal
with
it
longer
I
mean
we'll
have
to
figure
that
out
whatever
like
in
the
longer
run.
Actually
there
might
actually
be
even
I
mean
they'll,
probably
well,
probably
the
way
it
will
be
in
the
long
run
is
there
will
always
be
these
like
required
platforms,
because
it
needs
to
basically
be
possible
for
make
a
call
to
almost
like
audit
The
Meta
of
a
metadata,
basically
right
right
to,
for
instance,
like
maybe
is
there
nobody?
Even
there
I
mean
if
that
is
the
like.
A
If
a
metadata
has
no
one
even
there
in
the
Meadowdale,
then
that's
actually
like
a
violation
and
stuff
like
that's.
That
gets
penalized
by
Major
and
and
then
you
have
to
basically
have
to
you
know
you
need
to
have
some
kind
of
way
to
make
it
that
possible
to
figure
out
right.
So
you
can't
just
have
a
metadata
come
with
some
impossible
thing
that
no
one
understands
how
it
works
and
then
you'll
never
be
able
to
know.
A
If
there's
even
people
involved
right,
but
at
the
same
time
it
should
still
be
completely
encouraged
to
kind
of
like
expand
on
top
of
it
right.
So
you
can
have
Discord
and
forum
and
that's
sort
of
the
base
level.
But
then
maybe
it's
a
matter
that
wants
to
build
like
some
VR
world
right.
That
would
be
the
really
cool
kind
of
direction
for
things
to
go
right.
That
automata
does
constantly
experiment
with
these
like
really
interesting,
Next
Level,
metaverse,
substrates
right.
A
Right,
yeah
and
then
there's
a
whole
Discord
I
mean,
of
course
we
can't
I
mean
so
a
big
part
of
the
end
game
plan
vision
is
we're
gonna.
We
have
to
build
this
ourselves
in
like
a
fully
decentralized.
You
know,
censorship,
proof,
anonymous
anonymity,
empowering
way
right
so
one
day
it
will
be
like
our
own
chat
thing,
that'll
run
on
our
own
node
Network
and
who
knows
right,
but
we
don't
we
shouldn't
kind
of
get
stuck
on
that
before
we
really.
A
A
That's
that's
always
an
upside
I
guess
also,
why
I'm
a
big
proponent
of
using
snapshot
for
the
metadata
initially,
even
though
I'm
sure
like
we
need
to
build
our
own
thing
in
the
long
run,
and
then
we
can
build
something
that's
way
better,
but
the
huge
upside
to
snapshot
is
people
from
other
places
know
how
to
use
that
right.
So
that's
going
to
really
help
bring
people
in
possibly
in
a
you
know,
with
greater
success
than
if
we
sort
of
roll
our
own
thing
or
try
to
teach
them
to
use
their
own
thing.
A
Initially,
that
I
mean
that
that's
not
a
given,
though
of
course
I
mean
there's
going
to
be
pros
and
cons,
and
there
could
be
in
one
obvious.
Major
Pro
is.
If
we
can
have
delegation
from
day
one
then
you
know,
then
it
gets
a
little
bit
more
interesting
to
use
on
yeah
I
mean
I,
I,
think
docs.
Actually
they
could
there's
a
there's,
a
good
possibility.
We
can
have
our
own,
but
anyway
my
it
was
just
an
example.
A
Right
up,
like
Discord
is
obviously
better
than
some
like
crazy
censorship,
resistant,
weird
thing
that
crashes
and
nobody
knows
how
to
use
when
we
don't
even
need
that
yet
because
Discord
isn't
getting
censored
yet,
but
then,
by
the
time,
the
writings
of
the
wall
in
terms
of
Discord,
that's
when
we
then
you
know,
maybe
we
have
already
successfully
kind
of
stabilized
multiple
meta,
dials
and
then
we're
in
a
much
better
spot
to
start
transitioning.
These
kind
of
things
right.
A
A
Then
we
can
kind
of
cut
costs
in
the
metadata
metadash,
because
if
something
goes
wrong
with
sort
of
the
cheaper
solution
as
a
matter
that
we
can
always
escalate
it
to
make
a
call
right
and
that's
a
question
of
who
is
in
maker
call
what
teams
are
there?
And
this
is
a
really
good
question
and
it's
actually
will
I
mean
basically
I
want
to
get
to
this
and
I'll
get
back
to
this
at
the
end,
because
it's
not
so
easy
to
answer.
But
one
way
one
explanation
is
the
governor
dials
or
make
a
call.
A
So
there's
like
three
types
of
metadowns
right:
there's,
creative
dialysis
and
there's
protected
us
and
governance
and
created
us
and
predictor
dials,
they're
kind
of
like
the
Dow's
doing
the
work
in
the
trenches
either
in
sort
of
the
decentralized,
the
metaverse
trench
or
the
real
asset
trench
kind
of
right.
So
they
sort
of
creators
and
and
real
and
and
protectors
they
go
sort
of
these
two
directions
of
either
digging
further
into
the
the
crypto.
A
A
I,
don't
know
middleman
I
mean,
if
there's
a
better
word,
but
like
the
middleman,
almost
right
between,
like
them
care
holders
and
the
delegates
basically,
and
then
the
sort
of
the
the
places
where
the
work
is
actually
being
done
in
the
creators
and
the
protectors
the
governors
kind
of
like
sit
in
the
middle
and
then
he's
like.
You
know:
professionalized
meta,
engineered
gamified.
A
Almost
like
I
mean
you
can
almost
go
like
a
bureaucracy
system
or
Administration
system
or
something
right
that
handles
all
these,
like
processes
set
today
are
run
by
the
the
core
units,
and
so
the
coordinates.
What
we
know
today
is
the
coordinates.
They
actually
also
still
exist,
and
they
are
just
run
by
them.
Like
they're
sort
of
the
meta
does
Iraq.
The
governors
are
wrapped
around
that
decision,
but
anyway,
so
that's
not.
A
That's
almost
certainly
not
clear
enough
and
I'll
have
to
kind
of
show
it
with
a
whole
diagram
and
stuff
and
I
mean
once
it
really
makes
sense,
and
you
can
really
start
placing
who
goes
where
and
who
does
what?
Then
it
will
start
to
really
make
a
lot
of
sense,
because
it's
clear
you
get
a
lot
more
Clarity
around
like
how
do
we
actually
know
that
this
is
going
to
work,
but
there's
a
lot
of
checks
and
balances
for
that
so
anyway,
so
I'll
get
back
to
that
later.
A
Yeah
and
Peyton
just
wrote
this
comment
about
yeah.
The
bureaucracy
is
a
core
right,
the
administration.
Actually,
you
could
say
you
could
also
call
it
decentralized
management,
right
delegates,
dvcs
budget
allocators
councils,
tribunals
and
then,
of
course,
yeah
and
then
like
regular
voters,
even
right
and
mkl
holders
and
even
like
die
holders
and
World
uses
something
yeah.
Okay,
then
there's
political
engineering
and
that's
kind
of
like
an
interesting,
that's
a
kind
of
an
exception
in
this.
In
the
in
the
during
the
launch
phase.
A
A
The
way
it
does
today,
basically-
and
it
actually
would
have
reduced
interaction
like
sort
of
reduced
bureaucratic
interaction
and
more
kind
of
like
it's,
a
black
box
and
it
gets
paid
to
to
deliver
on
certain
deliverables
and
and
that's
because
they
need
like
protocol
engineering-
is
hopelessly
dragged
down
by
all
sorts
of
bureaucracy
and
and
processes.
That
is
a
complete
waste
of
of
the
value,
and
that
is
that's
one
of
the
biggest
problems
in
right
now.
A
That's
happening
in
maker
I
think
is
that
how
like
like
the
sort
of
the
worthless
stuff
that
we're
paying
those
people
to
do
when
we
could
have
them
working
on
like
extremely
valuable
stuff,
but
but
no
so
it
will
not
be
open.
There
will
be
like
so
so
it
will
not
be
like
The
Meta
dance
at
all,
like
in
terms
of
like
it's
over
competition
or
anything
like
it'll,
be
more
like.
A
Like
I
mean
we
want
like
a
core
development
team
or
something
right
like
it'll,
be
I
mean
and
there's
no,
it
doesn't
matter
there
could
it
could
be
open
to
competition,
but
nobody
can
compete
with
proof
engineering,
because
maker
engineering
work
is
not.
You
know
you
the
only
way
someone
can
do.
That
is
if
they
go
and
and
get
trained
by
the
people
already
doing
it.
To
a
large
extent,
I
mean
later
on.
I
I
mean
at
a
basically
around
the
end
of
2023.
A
We
would
have
to
really
begin
the
effort
to
build
like
create
a
documentation
and
the
sort
of
the
training
work
and
also
the
the
the
kind
of
the
diffusion
of
talent
decentralization
of
talent.
Basically,
that
would
allow
a
proper
ecosystem
of
like
core
developers
to
to
exist
in
the
metadas,
but
we
shouldn't
do
that
too
early.
Basically,
because
that's
it's
it's
risky
and
it's
it's!
A
It's
like
it's
very
costly
to
do
that.
But
then,
of
course,
once
you
do
it,
you
get
this
huge
upside,
but
the
right
time
to
do
that
is
after
the
in-game
plan
is
already
launched.
So
the
meta
task
can
form
and
that
can
be
ready
and
then
they
can
receive
the
you
know.
Then
they
can
sort
of
take
over
the
responsibility
for
core
development
once,
like
all
these
other
components
of
stabilized.
A
Okay,
so
anyway,
so
let's
move
on
for
the
with
the
whips.
So
then
there
is
the
we
have
zero
end
game
Amendment.
So
this
is
kind
of
I
mean
this
might
actually
end
up
looking
completely
different
or
lilies
like
the
right
now.
This
has
a
very
ambitious
objective
right,
but
so
one
objective
is
change
RC
to
three
months,
which
funnily
enough,
it
actually
is
already
three
months
in
the
MIP
zero.
So
possibly,
that's
not
even
a
direct,
a
direct
kind
of
foreign.
A
A
A
This
is
not
as
critical
necessarily
and
it
might
be
that
during
the
RC
phase,
like
just
issues
come
up
that
makes
the
current
ambitious
approach
of
doing
all
this
cleanup
work
with
a
single
MIP
may
not
be
possible
because
there's
a
I
mean
there's
a
whole
bunch
of
edge
cases
that
I
haven't
that
we
would
all
have
to
basically
sit
and
analyze
those
before
we
could
possibly
figure
out.
If
this
is
doable,
yeah
I
mean
this
MIP.
One
I
think
right.
A
Peyton
is
like
being
a
story
about
this
like
weird
three-month
thing
where
maybe
zero
says
three
months,
but
then
it
made
one
I
think
it
is.
It
says,
but
until
these
like
I
mean
actually
one
describes
a
kind
of
end
game
plan
which
is
kind
of
funny,
and
then
it
has
like
a
bunch
of
like
check
boxes
like
oh,
this
is
the
end
game
seed
and
if
you
deliver
everything
on
this
end
like
on
this
list,
then
the
RC
period
changes
from
one
month
to
three
months,
and
then
everyone
forgot
about
that.
A
A
I
mean
so
I,
don't
yeah,
so
so
Raphael
mentions
a
mips
sun
setting
effort
and
so
I
think
what
I
want.
What
I
think
is
crucial
for
the
in-game
state
is
that
we
actually
stopped
creating
new
mips
like
we.
We
created
the
myths
that
we
need
for
that
game
and
then
at
some
point
we
said
the
RFC
period
to
like
a
year,
and
then
we
set
it
to
like
three
years
and
then
we
almost
set
it
to
infinite
right.
We
just
like
at
a
certain
point.
A
The
mips
need
to
be
done
and
you
don't
touch
them
anymore
and
if
you
anything
you
do
relating
to
mips
is
only
through
sub
proposals
inside
a
map
that
defines
exactly
how
you
can
do
a
sub
proposal,
and
that's
this
kind
of
you
know.
That's
one
of
the
key
principles
of
the
in-game
state
is
that
you
can
only
ever
change
stuff
through
an
existing
process.
That
explicitly
defines
sort
of
you
know.
What
can
you
change
and
what
can
you
not
change?
So
there's
always
there's
always
like
anytime.
A
You
use
any
kind
of
process
that
changes,
something
there's
already
always
very
clear
and
defined
boundaries
on
how
far
you
can
go
with
that
change.
So
you
can't
kind
of
I,
don't
know
how
almost
like
compared
like.
Okay,
like
heck
governance
by
using
a
process
meant
for
something
else,
so
then
sort
of
like
gain
root,
access
in
a
sense
and
then
suddenly
change
all
sorts
of
stuff
right,
because
that's
what's
so
important
about
the
in-game
state
is
that
you
don't
want
that
open-ended
possibility
for
complexity
increase
over
time.
A
Yeah
I
mean
I
think
what
actually
happened.
What
this
thing
about,
like
changing
the
governance,
Paradigm
and
mid
one
I
think
what
actually
happened
is
that
it
was
simply
never
declared
that
we
were
out
of
whatever
it
is
I
can't
there's
some
face
where,
like
it
has
to
be
declared
that
now
we're
out
of
the
whatever
phase,
and
that
basically
never
happened.
So
then
recently
ended
up
with
like
forever
having
the
one
month,
RFC
period.
A
But
actually
yeah,
like
the
goal,
is
to
put
in
place
the
same
intention
right
of
having
like
it's
set
up.
You
know
set
up
the
same
thing:
I'm
like
saying:
there's
a
there's,
a
there's,
the
three-month
RCS
in
place
broadly
and
then
The
Only
Exception.
Is
this
stuff,
that's
predefined.
So
basically
the
end
game
plan
launch
mips
that
specifically
relate
to.
A
The
you
know,
like
the
the
yeah,
like
sort
of
finishing
what
these
initial
Maps
put
in
place
and
yeah
like
I,
mean
it's
funny,
I
mean
so
so
I
guess
it
it
all.
I
mean
this
all
comes
down
to
the
governance
facilities
right,
but
in
it's
possible
that
this
will
actually
like.
This
will
require
something
like
an
amendment
to
mix,
because
I
mean
the
current.
The
current
maps
has
so
many
sort
of
loopholes
right.
A
A
Maps
then
we
like
we
first
met
like
we
saw
a
bundle,
an
amendment
of
of
I
mean,
let's
say
the
fifth
year
Amendment.
If
we
actually
can
can
make
that
work
in
removing
the
other
maps,
for
instance
right
or
we
directly
modify
MIP
one
right
or
whatever,
whatever.
However,
we
basically
do
it,
but
that's
all
I
mean
that
that,
like
that's
something
I
will
make
sure
that
I
can
make
I
can
sort
of
get
all
that
to
to
completely
Square
out
before
the
RFC
period.
A
Wednesday,
because
the
I
mean
the
main
thing
that
we
can't
change
after
Wednesday
is
basically
introduce
new,
mips
and
sort
of
there
like
new,
actual
proposals
at
the
at
the
highest
level
right,
so
exactly
which
mips
we're
targeting
and
which
Maps
we're,
meaning
that's
gonna
need
to
go
into.
That's
gonna
need
to
go
in
before
Wednesday.
A
A
You
know
basically
very
attractive
proposal
that
that
it
it
just
it
makes
a
ton
of
sense
because
we
need
to
you
know
we
want
to
immediately
begin
acquiring
safety
equals
cheap
and
while
the
prices
are
going
down-
and
we
also
want
to
do
it
slowly
with
your
mind-
so
we
want
to
I
mean
we
sort
of
both
want
to
do.
We
want
to
do
it
quickly,
but
we
also
want
to
do,
and
and
I
mean
and
actually
the
sooner
we
do
it
the
slow.
A
We
can
do
it
in
a
sense
right
and
then
a
way
to
really
get
a
ton
of
starting
collateral
is
to
then
sell
a
bunch
of
NPR
right.
I
mean
use
them
if
you
own
a
treasure
right,
sell
it
or
swabbing
right
and
then
the
this
sort
of
uniquely
fitting
opportunities,
basically
that
I'm
willing
to
make
this
like
bad
deal
is
actually
for
myself
right
of
swabbing,
my
lotto
for
maker.
A
Then
this
is
just
an
opportunity
to
look
for
free
Kickstart,
the
protocol
involved
with
with
a
bunch
of
starting
collateral
and
then,
of
course,
there's
the
whole
flywheel
of
like
like
the
protocol.
Vault
is
going
to
be
all
about
accumulating
State
d
and
the
metadas
are
going
to.
You
know,
yield
family
tokens
to
also
stake
teeth,
volts
right
initially,
when
either
die.
One
like
the
first
symbol,
almost
like
heck
implementation
of
either
diet.
A
It's
just
a
simple
wrapper
around
light
of
State
beef
and
then,
if
you
put
all
that
I
mean
if
you
basically
apply
all
that
power
to
accumulating
State
deeds
and
sort
of
put
stickies
at
the
center
of
the
tokonomics
in
the
early
phase,
then
of
course,
there's
a
ton
of
strategy
and
also
then
using
Lido
tones
themselves
as
collateral
to
to
do
this
right.
Because
then
the
the
lighter
will
will
basically
benefit
from
the
adoption
of
all
these.
Like
mechanisms
we're
putting
in
maker.
A
And
yeah
and
I
mean,
and
then
there's
this
additional
there's
like
these,
like
these
sort
of
secondary
benefits,
which
is
one,
is
that
if
there's
doubts
about
whether
you
know
I'm
committed
to
the
in-game
plan
or
I,
think
there's
value
in
mkr
or
something
right
or
maybe
even
that.
Maybe
the
whole
thing
is
a
is
like
a
kind
of
a
you
know:
a
scam
almost
where
I'm
just
trying
to
get
maker
to
pump
my
my
Lido
or
something
right.
Then
of
course
it's
it's.
A
A
A
A
Like
you
want
to
be
able
to
you
know,
if,
if
maker
suddenly
has
a
huge
price
increase,
then
it's
actually
really
beneficial
like
it
gets
more
and
more
attractive.
In
that
case,
to
then
swap
it
to
something
else
right
to
sort
of
block
in
some
of
those
gains.
So
then
you
can
sort
of
gain
the
same
like
you
get
the
same
benefit
from
from
with
a
lower
discount
in
that
sense
right,
because
then
it
becomes
more
about
providing
liquidity.
Basically,.
A
And
and
also
the
same,
but
the
other
way
around
right.
So
if
Lido
goes
up
like
crazy
in
value,
then
you
want
the
discount
to
be
greater.
It
make
us
favor,
because
otherwise
it's
just
it's
the
same
thing
of
like
you
know:
it's
you
you.
Basically
you
never
want.
You
don't
want
to
buy
a
coin.
That
is
just
massively
increased
in
value.
A
I
mean
this:
what
exactly
happens
with
protocol
engineering
I
mean
that's,
of
course
also
I
mean
in
reality
it's
really
up
to
to
the
core
develops
and
core
developers
themselves.
Of
course
right.
But
this
is
this
is
my
current
what
I
said
earlier
about
ensuring
that
they're,
less
they're
sort
of
more
autonomous
and
more
of
like
a
black
box
which
is
kind
of
how
they
already
operate
right,
but
but
then
I
think,
rather
than
try
to
deal
with
that
like
I
said
right?
A
Instead,
we
should
simply,
we
should
actually
Empower
that,
and
just
simply
have
them
kick
ass
and
do
things
instead
of
of
going
through,
like
some
major
restructuring
which
all
the
other
parts
can
actually
do
that
because
that's
like
there
is
a
huge
value
in
that,
but
the
the
core
development
team,
specifically
I,
mean
basically
needs
to
be
set
up.
The
way
that
that
really
benefits
them
right,
so
I'm,
not
I,
mean
obviously
every
aspect
of
the
plan
has
never
never
been
about
trying
to
to
force.
Some
kind
of
you
know.
A
A
Well,
one
thing
I
want
to
to
say
on
this
like
that,
like
this
paste
from
Josh
right,
because
one
thing
is
that's
wrong
with
this-
is
that
the
idea
is
not
that
it
gets
paid
in
a
different
way.
Like
the
whole
point,
is
the
protocol
engineering
just
stays
exactly
the
way?
It
is
now
right?
So
so,
because
we
already
have
budget
and
and
structure
and
everything
for
that,
and
that
should
just
stay
the
same
and
just
be
less.
A
Like
I
mean
well
I
think
in
particular,
what
we
really
want
to
avoid
is
that
basically,
protein
engineering
team
ends
up
getting
down
the
weeds
to
doing
the
doing
the
metaphase
work.
Basically
because,
of
course,
that's
already
sort
of
a
tendency.
We've
seen
that
a
lot
of
the
metadata
clusters
they
have
all
these
like
ideas
of
like
oh,
it
could
be
really
cool
if
we
could
get
protocol
engineering
to
like
do
this
or
that
for
us
right,
but
of
course
the
some
of
the
really
basic
functions.
A
Okay,
then
there's
a
special
mandates
for
collateral
onboard,
so
that's
related
to
how
right
now,
in
the
way
it's
it's
proposed.
Mip
zero
will
like
remove
the
collateral
onboarding
process
right,
which
is
I
mean.
You
may
have
heard
me
rant
about
that
in
the
past
right
that
it's
a
broken
process
right.
This
is
like
extremely
overloaded
backlog
right,
that's
never
going
to
be
finished
and
it
only
gets
more
and
more
filled
up
with
endless
applications,
basically,
and
in
practice
it's
not
even
actually.
A
A
Right
because
any
new
real
assets
that
we
get
post
in-game
plan
approval
has
to
be
real
assets
that
can
then
be
adopted
by
metadata,
because
Mega
code
doesn't
want
to
touch
any
Rebel
Assets
in
the
long
run,
the
only
real
assets
that
was
said
and
make
a
call
is
psms,
but
anything
more
complicated
than
a
PSM
that
relates
to
evil
assets
cannot
be
in
Mexico.
It
can
only
be
in
a
protector
and
then
access
through
a
d3m
or
a
bold
adoption
mechanism
that
is
overcollateralized
with
Junior
capital.
A
Yeah
and
then
hopefully
the
way
it's
worded
right
now
will
then
empower
the
facilitators
to
you
know
not
get
bogged
down
by
process,
but
simply
you
know
to
facilitate
the
actual
process,
that's
beneficial
to
our
shareholders
and
not
some
like
archaic,
bureaucratic
thing
that
exists
for
historical
reasons
right,
which
is
how
I
for
the
most
part
of
you,
maybe
six
from
it,
and
then
the
same
thing
applies
to
risk.
They
become
responsible
for
for
for
decentralized,
collaterals
and
psms
in
the
call
and
yeah.
A
Okay
and
then
there
oh
and
then
that's
the
question
here.
What's
the
purpose
of
the
Cs
coordinate,
if
collateral
lombarding
is
being
removed,
do
they
get
off
watered
so
basically,
CS
has
to
be
restructured
in
some
fashion,
but
but
basically
it's
a
very
important
resource
because
they
can
supply
stuff
to
The
Meta
labs
and
are
very
relevant
for
the
metadata,
in
particular
like
the
Cs
is
like
this
perfect
well
at
least
the
sort
of
the
the
sort
of
the
theoretical
the
ideal
version
of
it
right.
A
It's
this
perfect
construct
for
metallics,
because
it's
a
place
that
you
can
like
do
so.
Instead
of
every
single
meta
that
I
have
to
have
their
internal
collateral
onboarding
function,
they
can.
They
can
Outsource
that
kind
of
stuff
to
A
supplier
or
some
kind
of
like
a
central
place
where
that
capacity
exists,
and
then
you
can
have
multiple
of
those.
So
you
have
a
real
Marketplace.
A
But
exactly
how,
like
a
structure,
there's
still
a
that's
still
an
open,
you
know,
there's
many
different
I
think
very
good
solutions
to
that,
and
it's
a
lot
and
it's
going
to
be
down
to
what
do
the
people
actually
want
to
do?
I
mean
in
the
end,
like
I,
said
earlier
right.
That's
what
it's
about
what
the
whole
exercise
of
the
game
plan
is.
A
Do
we
got
to
find
the
people
that
can
actually
deliver
the
value
that
we
need,
and
then
we
need
to
figure
out
how
they
want
to
be
structured
based
on
their
experience?
What's
the
best
way
to
structure
them
right,
so
that's
something
where
it
always
has
to
be
bottom
up
in
terms
of
who's
working
and
what
and
who's
sitting
in
what
position
you
know.
A
Yeah
right
so
so,
there's
no
more
collateral
being
on
board
as
a
maple
yeah
like
so
all
collateral
onboarding
would
be
the
meta
dance
and
so
that
that
initially
that
may
not
I
mean
it
may
only
be
this
risk
mandate
and
then
this
real
asset
man
did.
That
will
happen
initially,
but
that's
anyway,
that's
still
enough
for
for
CS,
so
it's
not
like
they
would
do
nothing.
A
A
A
You
know
I'll
talk
about
the
the
protocol
Vault
first
right
so
and
specifically
it's
the
protocol
on
bone.
The
protocol
owned
Vault
emulation
right,
which
is
basically
this
very
early
stage,
like
sort
of
Proto
hack,
almost
of
how
we
can
do
how
we
can
effectively
lever
up
the
mega
protocol
and
state
these,
and
the
reason
why
I'm
going
to
do
that
immediately
is
because
we
want
to
be
acquiring
accumulating
our
state
needs.
A
We
were
going
into
pigeon
stance
right
and
the
goal
of
pigeon
stands
is
to
make
as
much
generate
as
much
income
as
possible
and
turn
it
all
into
steady
teeth
and
then
lever
up
on
that
safety.
Eight
in
order
to
generate
decentralized
diet,
and
if
we're
going
to
accumulate
the
ton
of
State
eth,
we
want
to
do
it
as
slowly
as
possible,
so
we
don't
get
into
it
some
kind
of
like
Luna
situation,
right
of
like
yoloi
Bitcoin
and
the
price
swinging
around,
like
flip
crazy.
A
A
And
yeah,
so
the
way
it's
done
is
it's
through
yeah.
Well,
so,
first
of
all,
this
I'm
not
I'm,
not
even
sure,
they're
interested
in
this,
but
this
is
just
a
placeholder,
so
it
could
be
someone
else
as
well
right,
but
basically
the
idea
there's
some
core
unit
that
gets
responded
that
basically
becomes
responsible
for
some
administering
the
proposals
related
to
this,
and
then
we
basically
identify
what's
the
amount
of
starting
collateral
we
have
available
and
then
based
on
that
static
lateral.
A
We
we
basically
all
of
the
parameters
of
the
Surplus
buffer
in
order
to
almost
like
turn
the
Surplus
buffer
itself
into
a
kind
of
pseudo
Vault
that
cannot
get
liquidated
basically
by
setting
its
lower
limit
below
zero.
So
if
you
set
the
surface
buffers
lower
limit
to
minus
60
million,
which
is
what
this
example
here
basically
proposes,
then
you
can
pull
60
million
out
of
the
Surplus
buffer
and
now
you're
actually
generated
60
million
die
basically
and
then,
as
long
as
the
collateral
sits
in
some
other
place
under
control
main
Governors.
A
Yeah
and
then
right
now,
I've
put
this
I
put
the
Leverage
parameter
to
the
the
over
collateralization
parameter
of
the
225
percent,
and
that
of
course
needs
to
be
tuned,
but
basically-
and
then
this
goes
to
this
question
around
what
what
about
the
risk
of
this
and
basically
the
thing
is,
this
all
comes
down
to
like
balancing
the
risk
of
rival
assets
against
the
decentralized,
stable
point
right
and
an
endgame
plane.
We're
basically
like
the
you
know,
we're
accepting
the
fact
that
we
can't
Blacklist
die.
So
we
will
have.
A
We
have
much
greater
real
Asset
Risk
than
competing
real
asset,
backed
stable
coins,
right
that
have
a
put
in
a
blacklist
right
or
regulated.
Even
and
basically
that's.
Why?
Because
of
that
risk
is
so
severe,
then
it's
actually
acceptable.
From
that
perspective,
right
of
the
existential
risk,
we
realize
it's
to
take
a
relatively
High
leverage
on
the
stakeees
simply
because
that
that
it
it
offsets
an
even
greater
risk
right
and
it
gets
us
to
this
possibility
that
we
can
even
maintain
the
pig,
even
an
eagle
stance
right.
A
A
Yeah
so
I
mean
so
using
ether's
collateral
makes
us
more
resilient
to
the
sort
of
the
Black
Swan
risk
of
Rebel
asset
Crackdown,
but
it
comes
at
the
cost
of
volatility
risk
and
then
in
the
in-game
plan
we
actually
pass
on
some
of
that
volatility
risk
to
die
holders
right,
so
MPR
doesn't
become
an
automatic
backstop.
It
become
like,
like
you,
you
have
the
possibility
of
die
getting
haircuts
because
of
the
volatility
of
the
collateral
right
and
then
cows
don't
even
and
automatically
assume
that
risk
anymore.
But
this.
A
But
that's
because
the
goal
is
to
have
a
you
know.
The
goal
is
to
not
have
an
asset
that
can
randomly
die
and
go
to
zero,
but
instead
have
something
where
the
risk
is
more
upfront
right.
So
you
have
things
like
negative
rates
or
haircut
risk
versus
everything
is
fine
and
dandy,
and
then
suddenly,
one
day
you've
got
blacklisters
because
you
know
because
North
Korea
used
it
or
something.
A
A
Yeah
and
then
then
the
question
is:
how
do
we
incentivize
dynamite
and
actually,
in
some
sense
we
I
mean
so
in
in
in
Pigeon
stands.
We
do
want
to
incentivize
Dynamic
right,
because
we
want
to
use
real
assets
and
then
we
want
to
generate
a
bunch
of
cash
and
then
buy
a
bunch
of
each
with
that
right
and
the
main
way
we
do,
that
is
with
metadata,
yield
funding
right.
A
So
when
we
sort
of
initially
saying
look,
there's
all
these
new
risks
to
holding
die,
it
might
free
float
in
the
future.
It
might
get
haircut
in
the
future.
There's
going
to
be
back
more
with
more
of
volatile
collateral
and
then
it's
decentralized,
but
lots
of
people
like
care
about
that
I
mean
they
want,
like
they'll,
not
care
about
the
other
things
though.
But
but
the
main
thing
is
like
I
say:
look,
there's
all
this
change
coming,
but
there's
also
this
big
upside
for
why
you
should
still
consider
diet
and
not
just
be
like.
A
It's
basically
that
that
there's
going
to
be
some
like
it'll,
be
some
kind
of
yield
right
and
then,
if
you
can
have
more
intangible
value
creation,
you
can
have
a
new
community
emerge
from
Distributing
the
terms
widely.
Then
you
can
actually
have
the
flywheel
of
even
more
value
creation
right,
but
regardless,
like
in
the
I
mean
during
during
pigeon
stance.
A
We
basically
just
want
to,
you
know,
accumulate
as
much
cash
as
possible
and
then
increase
the
share
of
decentralized
collateral
and
then,
when
we
hit
Eagle
stands
potentially
there's
too
much
demand
for
die
still,
and
then
we
actually
like
what
we
actually
want
to
happen.
Is
people
leave
right
and
then
we
have
to
even
potentially,
if
people
don't
leave
because
of
kind
of
the
expectation
of
what's
going
to
happen,
then
what
will
actually
happen
is
it'll
have
to
free
float
and
then
we
will
it
will.
A
And
in
terms
of
like
the
actual
parameters
of
of
this,
like
of
the
the
protocol,
Vault
I
mean,
of
course
we
want
input
from
from
risk,
but
it's
kind
of
it's
like
an
arbitrary
number
in
many
ways,
because
I
mean,
or
rather
I
mean
there's
other.
There
are
other
parameters
you
can
set,
but
like
in
all
cases
like
you,
you
know
you
can't
really
kind
of
like
create
Some
Kind
of
Perfect
system.
For
something
like
this.
A
You
have
to
basically
just
accept
some
kind
of
like
base
risk,
basically
and
and
so
yeah
like
I
mean
we
like,
of
course,
the
more
input
we
can
get
from
from
promotionist
team
and
risk,
and
so
on
about
whatever
they
would
want
to
pick.
I
mean
that's
great,
but
in
the
end
it's
like
mpls
have
to
basically
make
the
call
essentially
there's
no,
like
you
can't
like
calculate
your
way
to
some
kind
of
the
right
answer,
because
I
mean
I.
A
A
So
instead
we
have
to
basically
say
there's
just
gonna,
be
you
know
we
have
to
basically
accept
the
decentralized
stable
coins,
just
have
greater
risks
and
there's
sort
of
new
balancing
these
two
massive
risks.
Where
you
know
you
there's
no
sweet
spot
where
both
are
limited,
you
have
to
pick
some
of
each
and
and
the
unknown
of
like
when
the
physical
Crackdown
risk
materializes
means
that
it's
sort
of
it's
it's
in
the
end,
there's
no
sort
of
scientific
or
or
quantitative
way
to
to
figure
it
out.
A
Yeah
then,
there's
like
the
off
pointings
right,
so
that's
off-boarding,
strategic
happiness,
events
and
Real
World
Finance-
and
this
is
basically
like
these-
are
like
the
only
clean
off
boardings
that
are
possible
where
we
can
achieve
a
budget
reduction
and
it
doesn't
like
break
something
in
terms
of
the
in-game
plan
transition
and
like
basically,
the
the
reason
why
it
makes
like
we
want
to
do
I
mean
one
thing
is
real.
Finance
is
like
that's
a
that's
a
that's
a
question
of
meta
engineering.
A
Right
now
we
have
this
complete
meltdown
and
that
needs
to
be
simply
rebooted
from
the
ground
up
right.
But
then
events
of
strategy
happiness,
that's
basically
that
they
are
sort
of
entire
coordinates
that
are
not
needed,
so
they
don't
kind
of
there's,
no
other,
there's
no
element
somewhere
in
there.
That's
that's
that's
needed,
based
on
my
analysis.
Basically
that
depends
on
any
of
these
coordinates
based
on
how
things
are
functioning
now
and
that's
a
part
of
kind
of
like
the
budget
approach
in
the
end
game
plan
is
we
only
have
we
only
pay
for
stuff.
A
A
Yeah,
we
all
need
therapy
for
brain
damage,
yeah,
maybe
the
I'm
hoping
the
therapy
is,
you
know,
sit
in
a
Discord
with
that
25
people
and
and
posts
in
your
own
little
meta,
though,
and
not
to
be.
You
know
not
be
worried
about
any
bureaucracy
of
politics,
but
just
Shilling
the
front
end
and
getting
people
to
found
the
token.
A
A
So
so
the
this
map
here
will
have
will
have
a
dependency
on
these
sub
proposals
here
and
then,
even
if
so,
if
one
of
one
of
these
separables
here
failed,
then
even
if
this
myth
here
passes,
it
will
not
go
into
effect.
It
will
also
fail.
So
that's
I
mean
it's
sort
of
this
classical
thing
of
like
a
dependency
thing.
A
A
If
you,
the
question
is,
are
you
using
the
dependency
feature
or
not
basically,
I
mean,
and
the
thing
is
it
might
be
that
you
maybe
there's
some
technical
reason
why
you
can't
do
it,
but
then
you
can
actually
write
I
mean.
Then
you
can
manually
write
the
dependency
into
the
component
in
the
nib
itself.
Right.
A
And
I
mean
so
like
I
said
earlier,
like
all
of
these
are
I
mean
unless
there's
very
clear
evidence
why
it's
different
than
all
of
these
will
be
dependent
on
each
other
right
and
then
the
question
is:
how
do
we
maintain
continuity
of
mobile
Finance?
Basically,
that's
already
sort
of
happened
behind
the
scenes
right.
So
there's
already
this
like
clustering
of
metadas,
that
isn't
like
an
insurance
right
now,
the
work
is
being
done
on
the
on
the
real
asset
proposals
that
actually
matter,
which
is
the
you
know.
Most
of
them
are
useless
right.
A
Basically,
the
the
interim
process
that
will
it's
your
continuity
can
also
then
focus
on
just
exactly
doing
the
key.
The
few
key
proposals
that
that
are
critical,
in
particular
the
most
obvious
one,
is
the
whole
thing
of
like
scaling
up
bonds
right,
getting
putting
all
the
usdc
into
bonds
that
can
pay
some
high
yields
in
the
short
run.
A
Okay,
so,
first
of
all,
there's
this
question
about:
there's
no
savings
if
you're
off
board
events
and
strategic
happiness,
what
about
CS
so
we
need
I
mean
so
basically
we
need
some
of
the
talent
and
see
yes,
so
there's
stuff,
we
need
in
CS
to
make
sure
there
is
this
list
like
like
saturated
market,
for
the
metadas
to
access
smart
contract
work.
Basically-
and
that's
not
the
case
with
the
Strategic
happiness
and
events.
A
There's
a
ton
of
head
count
reduction
that
has
to
happen,
and
a
lot
of
it
will
be
people
that,
instead
of
being
let
go
entirely,
they
will
be
sort
of
given
this
kind
of
they'll
be
giving
some
budget
they'll
they'll
cluster
into
a
metadata
and
then
they'll
either
make
the
metal
that
work
and
make
the
metadata
pay
for
their
their
work
or
the
man
that
will
go
under
and
then
they
will
they
will.
You
know
they
will
lose
their
job
right.
A
But
the
point
is
that
everyone
that
has
talent-
everyone
that
has
real
clearly
like
skills,
that
it
clearly
means
that
if
they
they
put
in
the
effort-
and
they
have
the
right
team
with
them-
then
they
can.
They
can
generate
positive
value
as
much
as
possible.
We
want
to
give
those
people
a
chance
right.
A
So
as
a
result,
you
have
this
like
clean
this
opportunity
for
clean
off
buildings
like
so
that's
the
difference
with
CES.
Is
that
there's
right
now?
If
you,
if
something
like
CES
was
off-boarded
or
I
mean
or
literally
any
other
coordinate
than
these,
then
there
would
be
like
this
Gap.
That
would
then
have
to
be
filled
somehow
and
in
most
cases
the
obvious
way
to
feel
it
is
well.
A
A
Question
about
Lido,
basically,
the
risk
of
lidocentralizing,
the
network
and
the
existential
risk
of
light
up
to
ethereum,
and
so
on
and
I.
Think,
following
that
there
have
been
a
question
I
mean
maybe
on
the
I
think
on
the
Forum.
Maybe
I
was
on
this
chat,
but
basically
this
question
of
like
why.
Why
should
it
be
lighter?
A
Why
shouldn't
it
be
something
else,
and
why
shouldn't
we
do
it
ourselves
right,
and
so
the
short
answer
is
that,
like
Lido
is
the
only
thing
that
can
scale
in
the
show,
like
the
only
thing
that
we
can
use
as
collateral
in
the
short
run.
It's
the
only
thing
that
has
good
Strat
liquidity
and
Lido's
already
so
like
such
an
existential
risk
to
ethereum
that
it's
kind
of
like
it's
kind
of
like
the
the
use.
A
A
Pigeon
stands
is
the
same
thing
like
there's
no
way
we
can
go
fully
centralized
in
the
short
run,
so
we
should
actually
double
down
and
we
should
put
Mana
dial
farming
and
die,
and
then
we
should
just
put
even
more
money
into
real
assets
to
generate
more
value,
so
we
can
get
them
capital
and
really
get
to
that
more
resilient
State,
as
as
soon
as
it's
realistic
to
do
so.
Foreign.
A
A
So
we
actually
have
to
Simply
well
I
kind
of
hope
that
you
know
they
will
decentralize,
but
they
also
I
mean
I'm.
An
investor
right,
so
I
know
I,
know
really
well
their
their
efforts
and
they're
very
seriously,
working
on
like
they're
kind
of
like
underground,
going
something
similar
to
to
what
we
are
in
terms
of
reacting
to
like
the
new
reality,
with
tornado
cash
in
general,
sort
of
deteriorating
regulatory
environment
and
so
on.
Right
and
and
that's
also
something
we
have
to
help
with.
A
A
A
The
staking
token
that
comes
out
of
that
would
be
completely
illiquid
right
and,
and
that
means
that
it's
like
the
ideal
portfolio
is
like
a
mix
of
all
the
different
staking
tokens
based
on
their
liquidity
and
then
some
allocation
to
her
own
staking
Network.
For
for,
let's
kind
of
like
that's
how
you
get
the
profits
out
of
the
synthetic
youth.
Basically,.
A
Yeah
and
the
reason
why
we
need
liquid
state
Eastern
rather
than
just
ease,
is
because
otherwise
we
really
you
know
that
I
could
really
get
in
big
trouble.
I
mean
the
only
reason
why
you
can
do
a
ton
of
like
you
actually
can
to
some
extent
scale
diet
with
eat.
That's
collateral
is
because
eth
is
such
a
massive
token,
so
that
is
so
small
compared
to
eth
and
and
the
liquidity
of
Youth
is
so
crazy
and
crypto.
Liquidity
in
general
is
so
deep
that
you
can.
A
Of
course,
it's
difficult
and
itself
a
crazy
challenge
because
of
the
goals
of
something
like
Ryan
right
but
like,
but
basically
if
they
could
somehow
find
a
way
to
use
rocket
eth
instead
of
regular
ease
as
collateral,
that
will
probably
have
a
huge
benefit
on
their
target
rate
and
their
adoption
right,
because
they
would
then
there
would
be
this
like
a
date.
You
know
right
now:
it's
like
yeah,
you
can
get.
You
can
earn
money
from
generating
riot,
but
you're
you're
you're
losing
out
the
opportunity
of
staking
your
ease.
A
Basically,
if
you
combine
those
two
things
together,
you
can
have
a
negative
rate
on
your
debt
and
you
can
have
staking
yields
then
suddenly
you're
starting
to
get
into
this
like
stacking
efficiency
on
top
of
each
other
and
and
suddenly
the
prospect
of
it
isn't.
My
stable
coin
is
a
little
bit
more
realistic
foreign.
A
We
don't
have
to
do
an
end
game
plan
or
whatever,
then
maybe
we
would
just
stick
around
and
basically
you
know
keep
sort
of
not
really
accomplishing
much,
but
but
we
would
stay
alive
and
be
able
to
pay
for
the
huge
Workforce
with
the
income
for
the
ruble
assets
and
then
suddenly,
one
day
you
know
there'll
be
a
request
to
be
like.
Okay,
can
you
blacklist
North,
Korea
or
whatever,
and
then
suddenly
that
we,
you
know,
will
have
the
real
problem
right
so
I
I
mean
what
we
obviously
want
to
do.
A
Is
you
want
to
grow
our
Revenue
we're
going
to
become
profitable
and
then,
at
the
same
time
cut
all
the
expenses
down
to
what's
needed
only
and
then
get
this
huge
profit
margin
right
and
then
that
profit
margin,
that's
the
thing
we
put
into
it
right.
That's
the
way
we
put
into
the
protocol
involved.
Yes,
okay,
yeah,
there's
this
question:
why
I
said
I
skipped
and
then
I
forgot
to
answer,
but
basically
what
happens
during
the
pregame?
A
But
of
course,
ideally,
we
want
to
keep
doing
as
much
as
possible
and
especially
protocol
engineering
right.
We
don't
want
to
interfere
with
like
the
L2
work
or
the
sort
of
the
other,
the
security
work
they're
doing
and
so
on.
So
so
only
things
that
specifically
need
to
to
do
something
will
change
and
anything
that
just
that
isn't
directly
either
is,
is
restructuring
to
reduce
costs
or
clustering
into
a
metal
down
or
is
impacted
by
the
collateral
onboarding
stuff,
we'll
discontinue
as
it
is
now.
A
Yeah
well
and
technically.
Actually
so
Robin
is
this
until
there's
about
its
business
as
usual,
correct
and
so
actually,
gov
Alpha
can't
even
answer
that
question.
In
a
sense,
I
mean
that's
it's
up
to
the
individual
facilitator
in
a
sense
right,
but
of
course,
in
practice
and
like
the
game
theory
changes
if
there
is
a
majority
for
the
in-game
plan
right
because
then
suddenly
the
best
interest
of
a
facility
that
would
be
to
to
align
with
the
voting
majority
right.
A
A
Laughs
is
there
any
facilitator
in
the
room
that
understands
governance?
Well,
I,
don't
think,
there's
anyone
that
actually
understands
governance
anywhere.
Really
you
know
it's
to
this
point
is
still
to
a
large
extent
made
up
as
you
go
yeah,
but
we
got
I
mean
the
thing
about.
Mega
governance
is
the
way
it
works.
Is
that
literally
whatever
Payton
says,
that's
how
it
works.
A
So
that's,
but
but
governance
is
still
only
the
process
right.
It's
not.
The
kind
of
the
operations
is
not
really
governance
right,
so
so
it's
not
like
Payton
has
some
power
to
to
tell
Robert
what
to
do.
Basically,
I
mean
there's.
No,
the
way
that
works
in
the
normal
in
a
company
is
you
can
fire
people
if
they
don't
do
what
they're
supposed
to
do
right?
I
mean
there's
literally
this
thing:
what's
it
called
insubordination
or
whatever
it's
called
right,
but
no
such
thing
exists
in
a
doubt.
Right.