►
From YouTube: Open Decentralized Voter Committee | June 01, 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 MakerDAOs decentralized workforce to create more specialized voter committees that cover each category.
More Information: https://forum.makerdao.com/t/open-decentralized-voter-committee-tuesday-5pm-cest-join-if-you-are-an-mkr-holder/15330
A
All
right
thanks
everyone
for
joining
the
third-
I
guess
yeah,
I'm
not
yeah,
the
third
or
fourth,
or
something
decentralized
voter
committee,
where
we
still
just
getting
started
and
sort
of
testing
out
this
concept
and
basically
trying
to
to
learn
how
to
organize
and
get
holders.
A
And
so
today
we
have
you
know.
Last
time
we
basically
invited
strategic
finance
to
join
and
and
provide
a
presentation
today,
and
then
there
will
also
be
a
little
bit
input
from
from
ses
as
well,
and
I
will
first
kick
it
off
with
like
a
a
short
presentation
before
we
get
to
sort
of
the
main
content.
A
Oh
sorry,
could
you
could
you
authorize
me
for
a
screen
share.
B
A
A
A
So
you
know
first
I'll
just
talk
about
decentralized
motor
committees,
the
idea
and
and
what
we're
trying
to
accomplish,
and
the
really
I
mean
I
think
we
can
really
begin
to
focus
it
on
sort
of
the
basically,
the
synergy
of
three
sort
of
three
different
constructs
sort
of
that
that
together
can
create
a
really
nice,
like
a
very
sort
of
optimized
user
experience,
almost
of
of
of
being
an
active
camera
which
right
now
is
considered
a
quite
frustrating
thing.
A
Basically,
and
and
we,
but
if
we
put
the
right
things
in
place,
then
actually
could
become
a
very
sort
of
rewarding
and
empowering
feeling
right
where
it
really
feels
like
it
matters
to
be
an
empowered
in
terms
of
governance,
and
so
basically,
these
are
sort
of
three
tools
that
I
think
we
can
use
right
now
to
to,
in
the
short
run,
to
begin
really
organizing
game
calendars
and
and
sort
of
empowering
them
and
ultimately
get
opinions
and
direction
out
of
them
right.
So
first
you've
got
the
voter
committees.
A
So
basically
calls
like
this
that
are
sort
of
open
calls
where
what
we
attempt
to
do
is
it
identify
major
active
and
key
elders
like
currently
is
this.
You
know
particularly
me,
taking
the
lead
on
this
right,
like
the
co-founder
of
the
project
and
someone
with
a
huge
amount,
more
than
70
000
mkr,
that
that
is
actively
voting
or
actively
delegating,
and
then
you
know,
but
also
there's
been
other
like
funds
and
whales
and
stuff
that's
been
coming
to.
A
These
calls
already
also
helping
this
independent
mtr
holder
perspective
and,
and
the
idea
is
to
basically
try
to
to
help
everyone
across
the
tao
understand
what
do
what
do
empowerers
even
want,
because
that's
actually
a
big
question
mark
very
often
right
now
and
then
I've
added
this
last
bullet.
This
is
a
completely
new
thing
that
basically
it's
something
long
for
wisdom
in
particular,
really
provided
me
his
feedback
again
and
again.
Every
time
I
discuss
this
concept
with
him.
A
Obviously
you
can
it's
so
difficult
to
get
people
to
to
volunteer
to
anything
right
I
mean
that's
what
we've
noticed
then
at
the
same
time,
the
problem
is
that
the
point
of
these
voter
committees
is
they're
supposed
to
be
the
place
where
you
have
this
sort
of
spark
right
where
you
have
people
that
are
actually
contributing
to
the
project,
because
they're
aligned
with
the
project
and
they
want
to
further
the
goals
of
the
project.
I
think
something
that
to
me
makes
sense.
A
A
That's
a
more
complicated
question
right,
but
I
think
you
you
could
you
it
might
be
considered
to
provide
people
with
this
very
long-term
invested,
mkr
tokens
because
then
it
it
starts
to
become
an
incentive
that
is
so
aligned
with
sort
of
the
long-term
goal
of
the
project
anyway,
that
I
think
it
might
actually
provide
a
form
of
of
incentive
to
participate
in
voter
committees,
yet
not
turn
the
voter
committee
into
sort
of
just
like
another
piece
of
the
bureaucracy
that
that
could
fall
into
sort
of
the
trap
of
just
trying
to
to
you
know,
keep
the
keep
the
music
going
in
a
sense
right,
which
is
the
whole
point
that
this
is
really
what
the
buddha
communities
are
supposed
to
represent
right:
the
pure
interests
of
regular
mk
holders,
whales
and
small
holders
alike
right.
A
A
Basically,
delegates
is
already
constantly
all
right,
but
then
there
are
some
delegates
that
are
sort
of
full-time
delegates
right
that
are
really
that
their
job
is
to
be
a
delegate,
and
I
think
we
can
basically
first
of
all
increase
the
compensation
of
the
top
delegates,
because
that
needs
to
be
a
sort
of
a
balance
between
delegates
and
facilitators
and
delegates
just
have
a
really
critical
role
and
incredible
responsibility.
A
So
there
needs
to
be
a
conventional
reward,
basically
and
then
also
make
a
lot
more
specific
requirements
for
what
this
full-time
job
requires
right,
including
being
present
at
voter
committees
and
also
certain
operational
meetings
and
and
that's
something.
A
We
can
maybe
talk
about
a
little
bit
more
but
like
how
we
can
begin
a
process
of
trying
to
structure
sort
of
the
bureaucracy
and
structure
of
the
the
workforce
in
a
way
where
voter
committees
actually
are
sort
of
tied
into
into
places
and
it,
and
it
really
becomes
kind
of
like
a
like
a
vantage
point
where
you
really
start
to
get
a
really
good
overview
of.
What's
going
on
and
delegates
are
really
a
crucial
piece
in
this,
I
think
right.
A
They
could
really
play
it
with
the
critical
role,
because
that's
kind
of
in
some
sense
they
already
are
just
very
it's
just
still
a
very
primitive
stage,
this
this
kind
of
dynamic
right,
but
basically
they
already
are
in
some
sense,
trying
to
sort
of
provide
a
very
simplified
view
of
what's
happening
in
governance
and
what
should
be
done
and
that's
sort
of
the
pitch
of.
Why
should
you
delegate
to
this
particular
delegate?
A
What's
going
on
right
to
help
to
make
it
easier
for
voters
to
sort
of
get
a
feeling
of
what's
happening
right
and
there's
a
very
tight
feedback
loop
here,
where,
like
delegates
that
I've
eat
that
are
good
at
communicating,
they
will
get
more
votes
right
and
communication
is
key
like
this
is
the
main
thing
we're
lacking
right.
The
information
cost
in
maker
governance
is
extremely
high
right.
It's
almost
impossible
to
figure
out
what's
going
on
and
we
don't
yet
have
like
a
super
strong
sort
of
I
mean,
but
I
mean.
B
A
That's
important
for
making
decisions
as
a
voter
and
delegates
can
have
a
very
you
know,
interesting
role
to
play
there,
because
they
would
sort
of
be
competing
about
delivering
this
information
and
delivering
it
simply
right
and
then
finally,
we've
got
the
supporting
core
units
which
is
sort
of
this
new
concept
that
I'm
trying
to
to
bootstrap
right
that
there's
certain
core
units
that
basically
they
don't
have.
They
don't
do
real
work
right.
A
A
But
then
there's
strategic
finance
and
ses
and
they're
already
doing
a
number
of
initiatives
to
try
to
basically
do
things
like
kpis
and
frameworks
and
tools,
and
but
these
you
know,
voters
and
care
holders
need
to
really
put
in
a
sense
sort
of
put
pressure,
put
a
spotlight
on
that.
Their
tools
frameworks.
A
There's
things
like
this
that
have
been
developed,
and
we
need
to
basically
use
these
as
our
sort
of
entry
point
into
to
to
governance,
right
and
empower
them
and
then
put
some
pressure
on
us
and
to
create
incentives
for
the
workforce
to
actually
follow
these
things
and
actually
operate
in
a
way.
That's
aligned
with
sort
of
the
language
and
the
the
the
ways,
the
methods
that
voters
use
to
try
to
understand.
What's
going
on,
so
I
think
this
is
really
like.
A
If
we
can
get
these
three
types
of
actors
to
to
work
together
and
effectively
sort
of
communicate,
effectively
collaborate
and
have
sort
of
clearly
defined
roles
that
synergize
in
the
voter
committees,
then
I
think
we're
really
in
a
much
stronger
position
than
we
are
today
right.
Then
you
get
to
this
point
where
it's
starting
to
feel
very
empowering
to
to
participate
in
border
committees
and
then
I'll
just
quickly
go
through
this
stuff.
You
know
so
then
this
idea
right.
We
need
eventually,
especially
right.
A
We
need
multiple
demonstrative
possibilities,
having
a
lot
of
communities
that
have
been
almost
like
political
alignments
right,
so
you
could
have
sort
of
the
left
or
the
the
the
the
the
dovish
position
of
higher
budgets
and
lower
fees
and
and
more
growth
and
less
profit
right
or
hawkish
or
sort
of
right
wing,
or
something
like
that
right,
which
is
more
about
basically
higher
fees,
lower
budget,
more
profits,
more
focus
on
the
short
term
and
possibly
completely
different
constellations
of
sort
of
clusters
and
alignments
of
empty
holders
that
have
particular
views.
A
But
then,
by
having
different
sort
of
differentiated
voter
committees,
then
we
can
actually
allow
everyone
to
sort
of
get
to
a
place
where
they
can
collaborate
and
develop
their
particular
perspective.
Ambition
for
for
how
voters
should
try
to
influence
the
dao
and
and
then
basically
from
there
right.
A
A
What's
the,
what
does
it
mean
to
to
sort
of
do
major
governance
and
what
is
it
that
we're
governing
and
what
are
the
critical
things
that
that's
that
are
going
on
right?
That's
the
stuff
that
all
needs
to
work
for
for
this
to
to
to
come
together
properly
and
then
voter
committees
can
like
one
way
to
think
of
it
is
that
voter
committees
can
have
different
different
times.
They
can
have
different
agendas.
A
So,
basically,
one
day
you
you're,
looking
at
protocol,
features
another
day,
you're
looking
at
marketing
and
another
day,
you're
looking
at
budgets,
something
like
that
right
and
this
is
how
the
scope
maps
help
kind
of
subdivide
the
complexity.
So
you
can
have
people
that
want
to
be
that
they
want
to
focus
on
collateral
onboarding.
A
In
my
opinion,
the
number
one
lowering
fruit
right
now
is
to
get
government
bonds
as
die
collateral,
because
it's
sort
of
a
very
simple
and
straightforward
thing:
that's
going
to
provide
us
with
massive
profits
as
well
as
some
other
things
right,
and
the
idea
is
that
we
need
to
be
able
to
discuss
these
things
and
then
ultimately,
having
care
holders
signal
agreement
or
sort
of
signal
sort
of
their
support
for
a
particular
list
of
focus
objectives.
And
then,
ultimately,
that
should
be
having
enough
signaling.
A
Around
focus
objectives
then
provides
core
units
with
very
you
know
very
useful
information
about
what
exactly
your
employment
is
willing
to
to
vote
on
right
now
right
and
what
exactly
is
it
that
that
ncaa
will
also
expect
from
me
right
and
will
will
hold
me
accountable
too,
so
that
that
this
helps
direct
the
workforce
and
align
the
workforce
towards
common
goals
instead
of
sort
of
tons
of
things
happening
parallel
and
a
kind
of
paralysis
because
of
complexity,
right
and
and
sort
of
lack
of
focus.
A
Okay,
so
this
is
kind
of
what
I
promised
last
time
I
would
make
for
for
this
call,
and
to
be
honest,
I
didn't
put
enough
work
into
this.
To
really
be.
I
don't
think
it's
like.
I
could
have
put
more
time
into
this
and
will
probably
be
better,
but
this
is
just
like
one
idea
for
how
do
you
subdivide
all
of
maker
into
like
these
are
the
things
we
we
cover
right.
So
so
the
starting
point
for
this
list
was
this
an
existing
list
in
the
coordinates.
A
That's
called
the
the
cross
core
unit
initiatives,
and
so
they
basically
for
that,
you
basically
have
you
know
decentralized,
collateral,
realizing
collateral
security
and
growth.
I
believe,
actually,
I'm
not
entirely
sure
of
that
yeah.
B
A
They're,
definitely,
you
know
desensitized
real
estate
or
security.
Those
are
our
elements
from
there.
Those
are
existing
cross-coin
initiatives
that
there's
already
happening
when
the
co-units
are
getting
together
and
sort
of
sort
of
trying
to
to
execute
on
these
objectives,
and
then
I
think,
there's
you
know,
protocol
features
that
would
be
something
related
to
like
building
out
new
oracle
features,
building
on
things
like
the
end
game
plan,
that
kind
of
stuff
and
then
there's
like
finance
and
I'm
not
sure.
A
Could
I
would
really
love
to
to
get
feedback
on
this,
and
just
like
talk
freely,
I
mean
this
list
is
not
a.
This
is
more
like
a
you
know,
something
I
put
out
there
and
then
I'll
see
if
this
inspires
people
to
come
with
some
thoughts
right,
but
we'll
get
we'll
get
back
to
later,
because
now
we
can
now
with
this
intro
done,
we
can.
A
A
This,
like
a
dow
tool
for
the
for
maker.
That,
I
think,
is
it's
really
relevant,
but
but
before
we
get
into
that,
then
we
will.
We
will
I'll
hand
it
over
to
mark
and
strategic
finance
and
then
basically
try
to
get
us
an
overview
of,
what's
their
current
perspective
on
major
governance
and
they're
thinking
about
making
violence.
C
I'll
take
I'll
take
silence
as
a
yes.
Thank
you.
So
content
of
this
call
today
is
going
to
be
more
financially
focused
in
nature
relative
to
the
governance.
You
know
happy
to
touch
on
the
subjects
a
little
bit
as
they
come
up
as
it
relates
to
finance.
But
you
know
our
expertise
myself
and
adrian
included
is
you
know
predominantly
corporate
finance,
consulting
and
investment
banking,
so
we
have
thoughts
on
governance
and
how
it
should
operate,
but
certainly
not
what
our
background
or
expertise
is,
but
just
briefly
to
touch
on.
C
You
know
the
supporting
core
units,
as
it
relates
to
decentralized
voter
committees
and
executive
delegates.
You
know,
traditionally
we
would
see
our
core
unit
as
being
you
know,
split
amongst
every
other
core
unit
into
you
know
two
different
primary
categories
and
those
are
you
know
what
we
call
you
know.
Traditional
corporate
finance,
profit,
centers
and
cost
centers
and
profit
centers
are
functions
within
a
business
that
directly
drive
revenue
and
cost.
C
Centers
are
those
supporting
functions
that
don't
directly,
you
know,
increase
over
themselves,
but
are
supporting
the
profit
centers,
which
drive
that
revenue
strategic
finance
kind
of
sits
between
them?
In
some
aspects
you
know,
as
many
of
here
know,
asset
liability
management
is
critical
to
any
bank's
functions
and
profits.
So,
as
we,
you
know,
start
to
move
the
uscc
and
the
psm
and
other
stable
coins,
the
psm
into
traditional
financial
assets,
credit
treasuries
and
even
start
to
experience.
Experiment
in
like
d5
native
yield
generation
strategies.
C
C
You
know
with
that
said,
we'll
hop
in
and
just
a
brief
legal
disclaimer
that
I
like
to
throw
in
front
of
every
presentation
is
that
this
is
provided
for
informational
purposes
only
does
not
constitute
financial
investment,
legal
regulatory
or
tax
advice,
all
right,
let's,
let's
hop
in
so
this
is
a
high
level,
what
we
call
a
key
performance
indicator
scorecard,
which
seeks
to
track
metrics
over
time
that
relates
to
the
financial
health
of
the
protocol.
So
you
know,
as
we
previously
discussed
online
on
the
forums
or
our
top
three
strategic
focus
areas
today.
C
D
Mark,
I
think,
you're
sharing
the
the
wrong
window
here.
We
see
the
slide,
but
only
the
opening
slide,
so
you
probably
probably
should
full
screen
presenting
something
else.
B
D
E
B
All
right
should
have
coast
capabilities
now.
D
C
All
right
perfect
hop
to
slide
three
treatment.
C
Yeah,
so
where
was
so
yeah
so
eat
lending
market
and
we'll
go
over
this
more
detail
later
in
the
slide
decreased
about
19
percent
everywhere
in
q1,
while
the
wtc
lending
market
continued
to
show
strong
growth
increasing
36
percent
year
every
year,
despite
a
large
vault
repayment
at
the
very
end
of
launch
at
the
end
of
march,
and
as
we
discussed
before,
the
world
asset
collateral
is
extremely
important.
A
couple
of
key
ways:
first,
the
total
addressable
market
and
rwas
is
the
hundreds
of
trillions,
credit
equities,
real
estate.
C
C
Second,
as
the
rwa
portion
of
the
lending
portfolio
increases,
the
portfolio
stability
fees
will
become
less
correlated,
resulting
in
a
much
more
resilient
stability
fee
income,
lower
stability
volatility
result
in
market
market
participants,
valuing
the
bigger
token
higher,
mitigating
the
governance
attack,
vector
and
then,
lastly,
increasing
demand
for
die
and
expanding.
Our
presence
on
l2s
will
be
extremely
important.
The
better
dye
is
as
a
product
and
the
more
organic
demand
there
is,
the
more
sticky
dye
will
be,
which
will
allow
the
dow
to
reinvest
in
the
protocol
more
aggressively.
C
We've
recently
seen
how
mercenaries
some
of
the
drivers
of
thy
demand
are
in
the
liquidity
update
that
we
provided
a
few
weeks
ago
with
you,
know,
dex
and
bridge
liquidity,
decreasing
by
nearly
three
billion
over
the
course
of
three
months
with
you
know,
most
of
that
occurring
in
the
first
couple
weeks
of
may
today,
increased
dye
demand,
results
and
more
used
to
see
in
the
psm
which
will
which
some
see
as
a
weakness,
but
this
will
all
change
as
these
productive
assets
begin
generating
yield
by
being
deployed
in
short-term
treasuries
and
credit.
C
So
we'll
dive
a
little
bit
deeper
into
all
these
thomas.
You
got
a
lot
of
background
noise.
C
Thanks
we'll
dive
deeper
into
these
kpis
next
week,
when
we
have.
A
B
C
Yeah
sorry,
a
lot
of
people
background
noise,
we'll
dive
deeper
into
these.
Next
week
we
have
the
qsr
presentation,
go
into
more
depth
and
a
lot
of
the
kpis
but
high
level.
These
are
you
know
the
first
subset
of
metrics
that
we're
looking
at
to
make
sure
that
we're
heading
in
the
right
direction
strategically-
and
you
know
our
goal
as
a
core
unit-
is
to
be
a
data-driven
core
unit
and
source
all
the
data
we
can
from
on-chain
and
help
this
help
us
make.
C
You
know
strong
capital
allocation
decisions
and,
with
that
said,
I'll
pass
this
over
to
adrian
to
cover
the
the
revenue
forecast
we've
put
together.
A
So
can
I
just
can
we
just
talk
for
thinking
about
this
a
little
bit
more
before
we
go
on
sure
I
just
want
to
like,
because
I
mean
we
really
should
think
about
this
as
like
an
exercise
in
trying
to
figure
out
how
do
we
sort
of,
and
how
does
this
group
work
together
in
a
sense
right
so
like
because
this
is
this
is
the
key
I
mean
this
is
what
we
asked
about
last
time
right,
like
the
kpis
right,
that's
really
exciting
to
to
to
dig
into
that.
A
But
like
could
you
talk
a
little
bit
about
like?
How
exactly
would
you
you
know?
How
is
how
would
you
go
from
this
and
then
to
something
along
the
lines
of
a
recommendation
around
how
to
vote
or
sort
of
data?
That's
useful
for
for
what
to
do
on
a
particular
boat,
I
mean
something
like
cool
unit,
digits
or
collateral
onboarding,
or
something
like
that.
C
Yeah
yeah,
when
so,
when
I
think
of
how
would
you?
How
could
we
yeah
that's
a
great
question
when
I
think
about
that?
You
know.
As
a
voter,
I
I'm
looking
at
supporting
these
kpis
in
my
vote.
So
if
I'm
looking
at
a
budget,
I'm
looking
at,
does
this
support
us
gaining
ether
at
bitcoin
market
share?
Does
it
support
growing
our
real
world
asset
collateral
safely
is?
Are
we
going
to
do
this
in
a
in
a
risk-safe
way
and
are
we
doing
things
to
improve
that
demand,
and
sometimes
it's
not?
C
It
doesn't
have
to
be
something
that's
done
directly,
but
if
we're
making
the
products
better
and
by
the
products
I'm
talking
about
the
vault
product
and
the
and
die
as
a
product,
if
we're
doing
things
and
making
investments
to
make
those
products
better,
I
think
that'll
improve
these
kpis
and
strategic
for
focus
areas.
So
sometimes
it's
not.
You
know
clear,
yes
or
no
answer,
but
I
think
using
that,
as
your
guiding
light
in
terms
of
voting
will
will
will
help
us
make
better
capital
allocation
decisions.
A
C
Yeah
so
so
I
guess
let's
say
we
have
a
I'll
throw
an
example
out
here.
So
let's
say
we
have.
You
know
a
a
budget
of
a
million
dollars
for
a
core
unit
that
seeks
to
you
know
improve
the
you
know
slippage
on.
You
know
the
bad
debt
collateral
auctions
like
that
is
a
service
that
isn't
increasing
revenue
directly,
but
it's
making
the
the
customer
experience
better,
because
if
we
have
lower
slippage-
and
you
know
we're
liquidating
bad
debt
collateral
much
more
efficiently,
then
that's
going
to
result.
C
You
would
think
in
higher
customer
retention
higher
customer
growth,
that's
something
that
we
would
hope
to
see
come
through
in
these
like
active,
vault,
metrics
and
new
customer
growth
metrics.
So
you
know
when
I
think
about
investing.
You
know
spent
in
different
coordinate
budgets
and
such
it's
all
about
like
what
return
are
we
getting?
That's
supporting
you
know
either
the
products
or
these
you
know
specific
financial
metrics.
You
know
whether
it's
you
know
ewtc
market
share,
you
know
other
types
of
collateral,
onboardings
and
you
know
die
market
share
and
the
products.
A
Okay,
so
so,
like
I
think,
and
so
I
think
this
is
really
key
right
because
it's
like
so
these
kpis
are
sort
of
the
high
level
where
you
can't
there's
never
going
to
be
a
vote
that
asks
hey.
Would
you
like
to
increase,
increase,
ethe
market
share
or
something,
but
we
can
basically
have
data,
and
I
guess
theory
instead
of.
A
Along
the
lines
of
okay,
if
you
do
this,
if
you
can
achieve
x,
then
that's
going
to
have
an
impact
on
something
like
eth
market
share,
active
volts
or
something
like
like
the
example
of
like
better
liquidation
means,
maybe
more
volts
and
so
like.
We
need
to.
We
like
the
next
step
for
how
we
can
begin
to
to
develop
sort
of
the
theory
around
how
what's
the
best
way
to
vote
is
to
to
start
to
understand.
How
do
we
break
down
sort
of
outcomes?
A
You
know
like
outcomes
that
drive
these
kpis
and
tie
that
into
them
into
specific
votes,
and
then,
basically,
you
know
develop
some
ways
to
sort
of
analyze
votes
beyond.
Just
like
I
feel
like
this
is
you
know
this
looks
good.
This
sounds
good
right,
which
is
kind
of
how
it
works
currently
and,
and
it
really
really
useful
to
be
like
look.
This
is
good
because
this
is
going
to
make
customer
experience
better
and
here's
the
data
around.
A
If
you
make
liquidations
whatever
10
percent
less
slippers,
then
we've
seen
based
on
what
I'm
out
of
a
questionnaire
or
something
right.
That's
going
to
result
in
some
kind
of
increase
in
usage
and
that's
going
to
then
drive
kpi
and
that's
going
to
and
then
ultimately,
I
think
the
key
right
is
to
figure
out
the
cost
benefit
right
really.
A
Like
this
is
a
kind
of
shared
language,
almost
right,
some
kind
of
methodology
that
goes
beyond
feeling
good
about
something
or
doing
you
know,
sort
of
political
campaigning
for
stuff
right,
but
rather
work
together
to
grow
mpr
value
so
like
this
is
the
kind
of
stuff
I
really
wanna
talk
about
as
much
as
possible.
Right
like
I
love
the
example
of
like
breaking
it
down.
Super
simple.
I
think
that's
something
like
everyone
like
a
lot
of
people,
probably
I
mean
obviously
I've.
A
I've
seen
examples
like
that
before
right,
but
I
think
that's
something
that's
actually
very
helpful
to
to
a
lot
of
people
that
aren't
used
to
like
running
companies
or
something
like
that
right.
So
thanks
for
that,
I
think
that's
really
cool
and
and
I'll
see
if
I
can
I'll
break
into
later
somewhere
just
to
see.
A
If
I
can
try
to
to
to
sort
of
touch
on
some
things,
I
think
could
could
help
us
have
the
kind
of
conversation
that
I
think
is
gonna
be
really
helpful
and
get
some
people's
thoughts
going
so
that
we
can
get
that
feedback
back
out
from
them
called
us
right.
B
I
think
I
I
also
think
that
this
is
not
just
for
to
support
on
how
the
gates
should
vote,
but
it
should
also
like
be
input
for
the
proposals
that
we
are
posting
in
the
forum
or
the
proposals
that
we
want
to
to
work
on,
because
if,
if
we
decide
after
seeing
these
kpis
that
we
want
to
increase
it
market
share
or
we
want
to
increase
or
reduce
wbtc
because
of
the
risk
of
decentralization
or
whatever,
then
using
these
kpis.
We
can
like
think
about
proposals
and
priorities
for
the
dao.
B
I
think
I
think,
like
it's,
it's
okay,
to
use
this
to
to
make
like
informed
decisions,
but
it
should
also
help
us
to
create
proposals
that
align
the
dao
and
and
the
voters,
committee
and
korean
needs
in
general.
C
A
And
I
agree
and
that
I
totally
agree-
and
this
is
when
I
say,
sort
of
shared
language-
that's
what
I
mean
in
a
sense
that,
like
there,
should
really
be
a
kind
of
a
consistent
way
that
sort
of
decisions
are
made
and
information
is
processed
and
presented
that
that
that
works
all
the
way
it's
at
the
lowest
level,
even
right
of
like
coins,
I
mean
at
least
sort
of
official
co-units
in
maker
right.
Of
course,
we
can't
like
there's
a
point
where
then
you
say:
okay,
it's
no
longer
you
you
can.
A
So
if
you
look
at
somewhere
in
the
dao,
they
should
speak
the
same
language
as
what
you
speak
in
what
we
sort
of
speak
in
a
voter
committee
or
at
least
that's
sort
of
something
that
that's
easily
translatable
to
that
right,
because
transparency
and
and
understanding
is
so
incred.
You
know
incredibly
important
and
there's
this
thing.
I
mean
this
is
one
of
the
issues
we
have
today
right.
We've
got
tons
of
transparency
like
we
have
tons
of
meetings,
tons
of
office
hours
and
insane
amounts
of
forum
posts
and
so
on.
A
The
problem
is
like:
it
takes
a
lot
of
effort
to
get
information
that
a
particular
individual
will
understand
out
of
that
right.
So
the
transparency
is
there
most
of
the
time.
But
often
the
translation
is
sort
of
the
issue,
and
one
of
the
key
key
ways
to
reduce
amount
of
translation
required
is
to
to
to
your
point
nadia
right
to
you
increasingly
use
a
shared
language
and
really
use
common
tools
and
common
approaches
so
that
we
simply
just
we
don't
have
to
translate
so
much.
A
A
I
always
find
that
anyone
butts
in
here
and
it's
not
just
me
and
the
core
units,
but
but
I
think
getting
perspectives
from
you
know
smaller
calendars
and
more
sort
of
outsiders
that
don't
have
the
same
level
of
context,
which
will
be
really
helpful
right
because
that's
kind
of
one
of
the
things
we're
trying
to
optimize.
C
Yeah
yeah,
I
agree
with
everything
that
you're
not
even
saying
I
saw
a
lot
of
questions
in
the
chat,
so
yeah
feel
free
to
hop
on
the
mic.
If
you
guys
have
anything
you
want
to
say
you
know,
and
just
to
reiterate
and
clarify
that
these
aren't
really
you
know
black
and
white.
You
know
kpis
just
because
a
metric
goes
up.
C
If
we
follow
a
certain
proposal,
there's
a
lot
of
other
considerations
as
people
are
pointing
out
in
the
chat
and
such
so
you
know
these
decisions
are
complex
and
I
think
you
know
our
role
as
the
finance
team
is
to
help
provide
data
to
make
these
decisions.
So
you
know
we
spend
a
lot
of
time.
You
know
building
dashboards,
pulling
data
and
trying
to
turn
this
into
information.
That's
you
know
digestible
and
that
can
help
us
make
decisions.
C
All
right,
yeah
go
ahead.
Robert.
B
On
the
new
customer
growth
on
march
20,
21,
there's
22,
11
and
then
march
22,
it's
2
40.,
so
the
year
of
year
seems
off.
Is
that
me,
or
does
the
number
read
differently
that
I'm
looking
at
it.
C
So
those
are
the
number
of
new
vault
users
that
started
using
the
product.
So,
yes,
it's
fallen
off
a
cliff.
It's
down
tremendously.
C
Yeah,
so
you
know
when
we're
we're.
Looking
at
like
new
customer
growth,
what
we've
seen
the
data
it
seems
to
imply,
there's
extremely
high
turnover
for
for
the
vault
users,
and
you
know
we're
trying
to
do
a
lot
of
research
to
understand
why
that
is
and
part
of
the
reason,
I
think
is
because
people
are
starting
to
get
priced
out
on
the
the
lower
end
of
the
spectrum.
C
So
you
know,
I
think,
we're
onboarding
a
lot
more
higher
value
clients-
and
you
know,
people
that
basically
are
borrowing
million
plus
but
we're
losing
the
retail
market
completely.
So
it
kind
of
distorts
the
data
if
you're
looking
purely
like
a
customer
count
basis,
because
not
all
customers
at
this
point
are
created
equal
given
how
few
customers
we
serve.
B
Yeah,
I
I
want
to
yeah
agree
on
what
marx
says
and
actually,
in
the
previous
quarter,
review
that
we
did.
We
talked
about
the
importance
of
layer
2
because
of
that
like
right
now,
retail
is
not
using
ethereum.
All
retail
is
on
on
layer,
2s
and
side
chains,
and
that
is
why,
if
we
want
to
like
recover
that
market,
we
have
to
think
about.
The
multi-chain
strategy
also
is
not
just
about
the
gas
thesis
also
because
of
the
dust
we
can't
like.
B
B
Okay,
now
anything
we
got
a
hand
raised
rapio
yeah
thanks.
I
love
the
kpis,
but
I'm
wondering
if
out
of
that,
we
could
probably
construct
something
much
simpler
in
a
way.
That's
like
consumer
products
or
or
other
companies
are
measured
that
you
have.
How
much
does
it
cost
to
acquire
a
customer
for
maker?
B
How
much
is
a
customer
lifetime
value
and
how
much
is
the
cost
of
goods
in
a
way
so
that
you
can
have
like
three
or
four
metrics,
where
you
can
kind
of
gorge
where
the
profitability
is
because
I
think
all
those
vaults
are
amazing
to
see
and
they
allow
a
lot
of
insight
into
steering
the
protocol,
but
as
a
I
think,
somebody
who
just
hops
on
and
wants
to
see
where
the
company
is
at.
They
are
probably
providing
too
much
detail
already.
C
Yeah,
I
think
we
can.
You
know,
try
and
condense
this
a
little
further
and
just
for
a
little
more
clarity
about
our
intent
on
this
and
the
intent
on
this.
The
qsr
that
we
have
next
week
is
to
be
more
focused
on,
like
the
profit
center
core
units,
I
think
there's
a
ton
of
extremely
important
operational
metrics,
especially
as
it
relates
to
products.
C
You
know
very
common
metric
is
like
a
net
promoter
score
and
it's
like
measuring
a
customer's
willingness
to
recommend
your
companies
like
product
or
services
right
and
there's
a
lot
of
other
extremely
important
factors
that
that
make
maker
valuable,
especially
as
it
relates
to
competitors.
You
know,
security
is
extremely
important.
I
think
maker
is
one
of
the
most
robust
and
secure
platforms,
and
that's
one
metric
that
I
think
customers
value
extremely
highly.
I
listen
to
a
ton
of
crypto
media
and
there's
people
that
say
that
they
literally
will
only
use
maker.
C
They
won't
even
use
all
their
compound
because
they
trust
maker
more
than
any
other.
You
know
defy
lending
product.
So
you
know
these
are
metrics
that
are
worth
quantifying
and
worth
evaluating.
You
know
we
want
to
include
this
in
kind
of
a
separate,
more
operational
focused,
you
know
deck
and
review
session,
but
yeah.
I
think
it's
an
extremely
important
point
to
like
review
and
have
quantifiable
metrics,
for
you
know.
You
know
product
and
other
operational
type
activities.
A
So
I
think
I'm
just
looking
at
time
now
and
my
assumptions
will
keep
for
another
40
minutes,
and
so
I
think
I
think
I
really
love
this
discussion
right,
and
I
think
this
is
an
example
of
like
once
we
get
going
once
we
get
something
sort
of
under
on
the
screen.
In
a
sense,
then
we
we
get
people
to
start
thinking
about.
What
do
they
want
to
know
like
what
do
empowerers
want
to
know?
A
That's
going
to
help
them
make
decisions
right,
which
is
going
to
really
help,
tighten
the
feedback
loop
and
get
things
organized,
but
so
what
I
would
really
love
to
to
to
to
do
so
that
we
can
get
through
the
we
have
some
more
interesting.
Things
is
if
we
can
just
go,
go
through
more
more
of
this,
this
deck
and
and
maybe
get
like-
let's
get
through
it
relatively
fast.
Unless
we
find,
unless
there's
something
similar
to
this,
that
sort
of
like
sparks
a
discussion,
then
we
should
absolutely
have
that.
A
But
then
I
think
afterwards,
then
we
can
talk
about
this.
This
ses
dow
tool
that
that
I
think
is
really
relevant
for
things
like
like
it's
things
like
tracking
the
kpis
and
all
this
stuff,
and
it's
going
to
help
us
sort
of
practically
operationalize
these
things.
But
I
would
just
really
love
to
get
to
that.
So
we
can
sort
of
get
past
all
those
things
and
then
finally
open
up
for
really
sort
of
more
free
discussion.
C
Yep
we
can
run
through
the
next
several
slides
and
skip
the
last
couple
and
move
on
since
we're.
You
know
taking
more
time
than
anticipated,
yeah
I'll.
Kick
it
over
to
adrian
to
discuss
our
you
know:
revenue,
expense,
net
income,
forecast,
high
level.
E
Thanks
mark
and
here
just
to
build
quickly
off
a
point
so
before
we
go
into
the
meat
of
this
particular
slide.
What
we're
trying
to
do
here
is
basically
what
a
lot
of
people
have
been
trying
to
do
back
of
the
envelope
for
the
past
few
weeks,
particularly
since
the
debacle
and
that's
to
kind
of
get
a
sense
of
where
the
maker
protocol
is
going
to
land
towards
the
end
of
2022.
E
The
way
that
we're
thinking
about
this
is
so,
I
think
I
thought
you
touched
on,
like
customer
acquisition
cost
cuts
of
cost
of
goods.
That
sort
of
thing,
I
think,
the
way
to
think
about
it
for
a
useful
heuristic
to
the
way
that
we're
thinking
about
the
profitability
of
maker
is
the
net
interest
margin
right,
so
the
cost
of
capital,
the
return
on
the
assets,
the
cost
of
capital
and
the
return
that
we
can
generate
on
that
on
those
assets,
so
ultimately
deriving
a
return
on
equity
for
for
the
surplus
buffer.
E
That's
that's
supporting
the
protocol,
so
here
on
this
slide.
The
way
that
we've
thought
about
these
different
scenarios
are
a
sort
of
base
case,
a
bear
case
in
a
bowl
case
and
contrary
to
a
typical
sort
of
product
driven,
you
know,
maybe
a
consumer
goods
company
that
makes
a
product
sells
a
product,
the
way
that
we
try
to
model.
This
is
more
from
the
starting
from
the
balance
sheet,
where
it's
a
balance
sheet.
E
First
here,
what
we're
looking
at
is
a
locked
in
so
the
way
that
we've
directly
scenarios
is
sort
of
locked
in
balance
sheet
for
what's
gone
of
the
year
and
our
views
on
what
the
balance
sheet
will
do
for
the
remainder
of
the
year
and
then,
as
a
result,
we
can
derive
what
the
revenues
will
will
be
on
that
basis.
E
The
mate
there
are.
There
are
a
few
key
differences
between
each
of
these
scenarios
between
base
bear
and
gold
that
you
see
in
the
middle.
So
if
you
go
top
to
bottom,
you
we
start
with
the
average
balance
of.
In
this
case,
you
can
equate
it
to
sort
of
die
outstanding
for
the
course
of
the
year.
Then
you
get
the
interest
revenues
that
we
derive
on
different
types
of
collateral.
E
Then
we
have
non-interest
revenues
which
were
which
will
be
liquidations
and
fees.
If
any,
then
we
have
asset
productivity
revenues,
one
of
my
favorite
types
of
revenues,
and
then
we
get
to
sort
of
total
protocol
revenues
and
from
that
we
did
have
the
operating
expenses
and
we
have
various
different
ways
of
cutting
the
the
profit
margin
that
remains.
E
The
key
highlights
is
that,
overall,
the
protocol
operates
at
a
very
high
return
on
equity,
largely
driven
by
the
relatively
small
size
of
our
surface,
purely
on
crypto
collateral.
This
is
not
such
a
big
deal
necessarily,
but
as
the
protocol
aims
to
grow
in
different
directions,
this
is
a
this
is
a
lever
that
could
be
pulled
in
different
ways.
E
So
if
the
overall
demand
for
you
know
levered
loans
on
these
collateral
declines,
we
will
be
hard-pressed
on
profitability.
Assuming
that
operating
expenses
stay
roughly
in
line
with
current
forecasts,
so
this
is
one
area
of
difference
between
base
barrenbull.
The
the
other
is
the
speed
at
which
we
are
able
to
bring
new
business
online.
E
So
what
we
have
in
the
line
referred
to
as
new
products
of
ivs,
d3
and
zl2s
is
basic,
are
basically
any
sort
of
plans
that
are
scheduled
to
come
online
by
the
end
of
2022
by
sort
of
the
end
of
q4
2022,
which
would
bring
new
lending
revenues
to
the
business
and
then
the
final
lever
of
difference
between
these
scenarios-
and
maybe
the
most
critical
one-
is
our
ability
to
exploit
our
assets
productively.
E
So
baby
gifford
should
be
coming
online
quite
soon,
and
we're
very
excited
about
this.
This
is
a
sort
of
heuristic
way
of
calculating
what
the
pro-rated
interest
revenues
could
be
on
on
on
500
million
dollars
of
debt
ceiling,
and
we
have
other
projects
in
the
pipeline
to
diversify
this
exposure
and
avoid
having
one
counterparty
control.
The
flow
of
funds
increase
the
permissionless
nature
and
the
decentralization
of
this
exposure.
E
You
know
some
of
the
projects
we're
working
on
include
exotic
acid
types
like
tokenized
bond
etfs
that
could
be
deposited
permissionlessly
on
the
maker
protocol,
we'll
be
sharing
more
details
about
any
of
these
proposals
as
they
come
online.
E
So
here
I
think
the
key
points
to
retain
is
that
the
interest
rate
environment
is
changing
and
I
think
it'll
be
exciting
and
interesting
to
see
how
d5
interacts
with
the
broader
financial
markets.
But
the
unquestionable
fact
is
that
it
will
have
an
impact
on
how
maker
operates.
So
if
the
lending
environment
changes,
how
would
that
impact
the
demand
for
collateralizing
heat
for
lending?
E
E
B
So
I'd
love
to
work
with
strategic
finance
to
try
to
understand
exactly
what
this
means
and
to
make
sure
we
have
the
proper
context
and
label
set
sure.
I'm
happy
and.
A
Also,
I
think
just
like
this
is
goes
to
this
common
theme
of
shared
language
right
that
ultimately,
this
questions
around
something
like
that
is
ultimately
something
I
think
goes
under
this.
This
concept
of
the
scope
map
right
so
basically
that
it's
so
important
that
ultimately,
the
way
that
information
is
presented
is
like
the
way
that
that
voters
ultimately
have
a
kind
of
I
mean
are
on
board
with
like
this
is
the
way
we
want
information,
because
that's
what
makes
it
useful
to
us.
A
So
we
can
get
opinions
about
how
we
want
to
vote
basically,
but
one
like,
I
think,
the
way
I
would
like
to
approach
because,
because
it
seems
like
this
is
a
sort
of
the
information
right,
this
is
sort
of
the
the
financial
overview
and
rather
than
then
because
I
like
this
meeting,
is
not
really
about
you
know
like
we
shouldn't
really
be
focusing
so
much
on.
A
Like
sort
of
like
I
mean
you
know,
I
would
say,
there's
like
a
function
like
going
through
the
whole,
going
through
the
financials
and
sort
of
like
making
sure
everything,
looks,
looks
good
or
there's
nothing
sort
of
out
of
place
or
something
like
that
right
and
then
people
that
are
just
like
voters
are
just
coming
in
that
want
to
vote.
What
they
want
to
see
is
like
what
are
the
places
where
something
is
wrong
here.
We
need
to
take
action.
A
If
you
know
what
I
mean
right,
so
they
don't
want
to
like
go
through
all
of
this
and
have
to
figure
out
themselves
which,
which
thing
looks
weird
and
and
there's
something
neat.
The
voters
need
to
to
do
something
about
right
and,
like
I
think,
regardless.
Basically,
I
think
we're
going
to
run
out
of
time.
A
I
think
if
we
go
through
all
this,
so
maybe
if
there
is
some
kind
of
specific
I
don't
know
right
like
it
would
be
really
cool
to
have
a
kind
of
of
example,
kind
of
like
mark's
example
right
off
like
here's,
the
the
you
know
like
how
could
you
use
this
kind
of
information
to
sort
of
take
action
right
so
rather
than
stuff?
A
E
Yeah,
that
makes
a
lot
of
sense,
and
I
think
going
back
to
was
it
rafael
who
talked
about
the
the
kpis
that
may
be
voter
relevant
in
a
sort
of
simplified
way.
I
think
an
interesting
way
of
yeah.
We
can
definitely
find
ways
of
summarizing
this
information
in
a
sort
of
extended
expansion
of
the
pnl
that
drives
down
to
levers
or
drivers
that
are
easy
to
understand.
E
You
know
number
of
tokens
locked
the
percentage
of
tokens
used
to
draw
the
loans,
the
price
of
collateral
and
die
the
stability
fee
like
things
that
are
easy
to
understand
and
separate
as
separate
drivers,
and
that
together
sum
up
or
multiply
together
to
to
to
produce
a
piano
for
this.
For
this
quote-unquote
bank.
C
As
yeah,
so
this
this
slot
is
just
setting
this
stage,
for,
I
think
extremely
hot
topic
in
the
dow
recently,
which
is
budgets,
and
you
know,
broadly
capital
allocation,
but
we'll
we'll
skip
to
that
next
slide
and
a
couple
other
things
that
we
can
cover
and
run
through
really
quickly
in
terms
of
like
cash
flow
burn
rates
and
runway
yeah
go
ahead
with
the
comment
run.
A
Yeah,
so
so
what
you
know,
so
this
goes
back
to
kind
of
like
supporting
core
units,
delegates
and
and
voters
right
so
like
what
I'm
thinking
is
that
to
really
optimize
for
someone
to
come
to
a
voter
committee
right
then
I
think-
and
this
is
I
mean-
I've
discussed
this
a
little
bit
with
the
router
from
ses,
but
I
mean,
but
basically
to
develop
this
it's
kind
of
further
right,
but
there's
like
different
level
of
complexity
right,
so
you
could
have
an
and
and
the
main
thing
the
main
difference
between
a
sort
of
enthusiastic
committee
and
then
an
executive
delegate.
A
A
What's
the
place
where
something
is
is
off
and
if
that's
not
the
case
then
basically
say
look,
it
all
looks
good
and
then
really
try
to
be
like.
It
looks
good
and
here's
like
the
yeah
and
then
go
to
the
super
super
high
level
like
this
is
why
it
looks
good
blah
blah
looks
great.
We
looked
at
the
details,
couldn't
find
anything
to
look
off
right
if
something.
A
But
yeah
but
like
right,
like
I
think,
that's
really
interesting
to
have
a
kind
of
so
we
can.
We
can
you
know
so
instead
of
going
through
right.
I
mean
I'm
basically
repeating
myself
here
right
so,
instead
of
having
to
go
through
all
the
things,
what
I
really
want
to
know
is
like
where's
the
thing
that
that's
important
to
me
that
I
have
to
do
to
worry
about
and
if
there's
nothing
to
worry
about,
then
I
basically
just
want
to
be
sit
back
old.
A
A
Maybe
it's
it's
only
breaking
for
me
or
something.
C
A
A
Yeah
but
but
yeah,
but
but
I
I
feel
it
will
just
even
I
wonder
if
there's
something
I
mean
now,
it's
just
like
a
real
quick,
like
sort
of,
but
you
know
if
there's
something
that
is,
that
strategic
finance
saying
this
is
the
main
thing
that
jumps
out
of
us
right
now,
and
maybe,
if
there
isn't
such
a
thing
today,
maybe
you
can
make
up
a
hypothetical
example,
like
you
did
with
liquidations
earlier
and
and
sort
of
talk
us
through
how
like
how
would
you
use
how
what
would
it
look
like
when
something
is,
is:
let's
call
it
actionable
or
out
of
place
or
something
like
that
in
this
right
or
an
opportunity,
or
something
like
that,
and
and
how
would
we
take
action
based
on
that.
C
Yeah,
so
that's
a
good
segue
into
into
this
slide,
which
I
think
you
know
can
result
in
an
actionable
thing
to
increase
the
surplus
buffer.
So
this
this
slide
basically
covers
all
the
dye
and
eats
that
are
in
the
core
unit.
While
it's
what
we
call
operational
reserves
in
our
financials,
you
know
we've
got
you
know:
15.3
million
tied
up
in
these
operational
wallets,
which
is
you
know
nearly
six
months
of
runaway.
C
Thankfully,
you
know
on
the
gas
side
of
things
you
know
gas
has
come
down
considerably,
since
you
know
the
original
gas
and
emergency
wallets
were
requested.
C
C
So
you
know,
as
we
look
to
start
to
make
the
balance
sheet
much
more
capital
efficient
by
deploying
it
into
you,
know,
treasuries
and
other
tested
assets.
I
think
this
is
an
area
that
we
can
vastly
improve.
C
So
that
was
one
of
the
you
know,
main
motivations
for
the
the
mip
40
revision
is
to
basically,
you
know,
require
quarians
to
look
at
their.
You
know
upcoming
three-month
runway
and
if
they
have,
you
know
in
excess
of
three
months
of
cash
on
hand,
and
they
return
that
cash
to
the
dow.
Now
as
it
stands
so
far,
you
know
only
gov
alpha
has
returned
die
to
the
protocol
and
we
think
that
much
more
many
more
coordinates
should
be
doing
that.
Based
on
the
data
that
we're
seeing.
A
Wait,
I
love
that
this
is
a
perfect
assembly
yeah.
So
this
is
like
an
example
of
like
here's,
some
financial
data
and
we
can-
and
it
sort
of
shows
that
look.
There's
this
very
long
runway
and
it's
it's.
You
know
it
probably
wasn't
always
the
case,
but
over
time
it
happened
and
and
because
there
wasn't
and
we
weren't
keeping
track
of
it.
A
People
just
didn't
notice
right
and
now
we're
we're
we're
sort
of
getting
this
overview
and
suddenly
we're
seeing
this
and
there's
actually
very
specific.
Look.
Here's
a
I
mean
the
proposal
is
already
there
right
and
then
like
what
I
think
is
ideal.
Is
that
then
the
proposals
get
sort
of
they
sort
of
get
right.
A
They
get
almost
like
brainstormed
or
or
iterated
advertise
committees
right,
so
that
you
really
when,
when
the
proposal
then
comes
out,
it
sort
of
already
has
mkr
holder,
buy-in
and
they're
like
they're,
ready
to
vote
for
it
right,
and
I
think
that's
really
that's
just
the
kind
of
thing
I
think
we
can
really
restreamline.
So
I
love
that.
That's
like
it's
a
real
just
a
real
example
and
yeah,
and
I
think
it's
great
like
is
there
some?
I
mean
this
is
sort
of
more.
A
You
know,
I
think,
a
lot
more
complicated,
of
course,
but
something
like
how
would
you
use
financial
data
to
like
off-board
a
core
unit
or
somehow
like
there's
something
wrong
financially
and
and
we
need
to
basically
cut
a
budget
or
off
for
the
co-unit
or
something
like
that.
I
mean,
I
think
that
that's
I
think,
that's
just
like
a
really
important
example
to
get
into,
because
that's
sort
of,
I
think
everyone
wants
to
to
know.
A
We
have
that
like
have
the
confidence
that
we
have,
that
kind
of
of
ability
right,
because
right
now
there's
a
lot
of
like
a
lot
of
people
making
the
case
that
we
have.
No,
you
know
no
control
of
the
budget
and,
and
the
coin
is
just
sort
of
be
overstaffed
and
so
on.
I'm
not
sure
if
you've
seen
that
on
twitter
right,
but
I
think
it
would
be
really
useful
to
sort
of
build
the
confidence
that
if
something
really
is
wrong,
looking
off,
we
have
the
ability
to
to
detect
it
and
take
action.
C
Yeah,
no,
it's,
I
think
it's
an
extremely
important
topic
and
something
that
the
dow
needs
to
think.
A
lot
about,
in
my
opinion,
is
that
this
comes
down
to
a
you
know:
a
performance
review
of
sorts.
That's
done
in
a
neutral
setting
with
you
know
formal.
You
know
quantifiable,
metrics
and
a
lot
a
lot
of
qualitative
metrics,
because
a
lot
of
corians
are
doing
work.
That's
not
easily
quantifiable,
but
I
think
the
value
that
they
seek
to
create
should
be
clear.
Based
on
you
know,
their
original
budgets
being
approved.
C
So
you
know
in
my
eyes
like
this,
should
be
you
know,
public
call,
basically
between
you
know
the
core
unit
team.
You
know
led
by
the
facilitator-
and
you
know
maker
holders
and
delegates
and
there's
a
lot
of
different
ways
that
this
can
be
done.
I
think
you
know
ses
is
soon
gonna
be
presenting
how
you
know
they'd,
like
this
process,
to
run
and
walking
us
through
how
that
works.
C
But
you
know
high
level,
you
know,
maker
holders
and
delegates
need
to
be
aligned
with
what
queer
units
are
doing
and
if
there
is
a
misalignment
they
need
to.
You
know
seek
consensus
or
you
know
potentially
off-board
the
core
unit,
if
they're
not
meeting
the
expectations
to
the
delegates
and
the
maker
holders,
but
yeah
each
core
unit
should
be,
you
know,
able
to
show
the
value
they're
creating
by
the
by
the
work
they're
doing
you
know
publicly
and
by
sharing
things
that
you
know
haven't
been
shared
yet
and
having
a
forum
to
do
that.
C
You
know
in
a
decentralized
voter
committee
could
be
you
know
a
very
relevant
case
to
have
those
place
to
have
those
conversations.
B
Mark
are
you
talking
about
a
future
state
where
their
the
voter
committees
and
other
mechanisms
that
we're
using
have
very
clear
strategic
objectives
and
an
understanding,
a
shared
understanding
of
what
specifically
is
the
direction?
So
then
the
cus
can
align
with
that
and
then
show
progress.
Are
you
talking
about
today.
C
This
is
just
a
hypothetical
of
how
things
could
work.
In
my
mind,
I
you
know:
don't
have
any
extremely
strongly
held
opinions
on
what
decentralized
voter
committees
should
do
like
what
that
scope
should
be,
and
as
far
as
the
performance
evaluation
specifics
you
know,
I
know,
scs
has
been
working
on
that
for
a
while
and
I'm
sure
they're
gonna
be
sharing
shortly.
You
know
how
they
see
that
process
working.
A
So
I
would
like
to
you
know
I
think
I
mean
now
we
have
this
this
very
detailed
overview
and
we've
got
the
strategic
finance
here.
A
I
think
maybe
we
could
take
this
opportunity
to
to
basically
ask
if
there
are
any
mpl
holders
here
that
have
some
kind
of
financial
data
they're
interested.
I
have
some
idea
of
like
some,
I
mean
there
were
already
some
discussion
like
that,
but
just
it
might
be
that
that
there's
something
somebody
could
sort
of
ask
for
and
then
then
there
is
actually
relevant
data
available
here.
Well,
basically,
personally,
I
think
you
know
what
we
talked
about
kpis.
We
talked
about
this
example.
A
I
think
that's
what's
really
useful,
I'm
actually
not
so
interested
specifically
in
like
going
over
this
stuff,
because
I
don't
really
understand
it
anyway,
but
if
someone
has
some
kind
of
have
this
sort
of
knowledge
and
the
you
know
this,
the
ability
to
understand
something
specifically,
then
I
think,
would
be
great
like
to
to
open
up
for
that
and
yeah.
So
I'll
just
leave
the
flow
open,
see
if
there's
there's
anyone.
C
And
so
we
might
get
some
questions
on
or
people
might
be
thinking
about
the
the
runway
and
how
that
looks
if
things
get
worse
in
this
bear
market,
I
don't
think
anyone
can
argue
that
we're
not
in
a
bear
market
and
obviously
a
lot
of
people
are
still
bearish.
Despite
how
far
the
macro
markets
have
declined.
C
B
C
So
how
this
is
calculated
right
now,
it
just
looks
at
what
amount
of
dye
was
in
the
wallets
as
of
yesterday,
and
then
it
looked
at
the
actual
expenses
for
the
prior
three
months,
and
then
you
use
that
to
calculate
the
runway.
So
you
know
most
core
units
have
in
excess
of
three
months
of
cash
on
hand
as
runaway.
E
I
think
the
new
the
new
proposal
budget
requirement
asks
for
funds
in
excess
of
this
three
months
to
be
returned
for
what
it's
worth
this
15
million.
We
do
actually
informally
consider
it
part
of
the
surplus
buffer
on
our
financial
reporting,
considering
it
in
some
sense
to
be
sort
of
junior
to
the
holders
in
the
event
of
an
emergency.
But
I
think
the
mechanism
for
actually
executing
that
has
been
missing
and
this
a
systematic
process
for
returning
the
funds
is,
is
important
to
make
this
reality
and
to
protect
the
maker
holders.
A
A
Element
of
like
I
mean
this
is
also
an
interesting
thing.
That's
getting
a
new
budget
right,
it's
like
how
to
deal
with
off-boarding
and
that
kind
of
stuff,
because
I
I
actually
I
don't.
I
think
we
had
the
example
of
the
content
coin
right.
I
think
they
basically
kept
what
they
had
already
right,
because
they
have
no
there's,
of
course,
no
way
to
force
it
to
happen
and
there
and
there's
also
value
in
providing
a
kind
of
of
of
certainty
and
and
sort
of
security
to
to
co-units
right.
A
But
I
think
this
is
something
we
could
that's
something
that
would
be
interesting
to
to
deep
dive
more
on
when
we
have
a
when
we're
sort
of
ready
to
to
to
have
more
sort
of
specialized
discussions
around
how
we
how
we
want
to
approach
these
kind
of
things.
E
Those
are
good
just
yeah
on
the
off-boarding
there
was
so
we
coordinated
with
tim
black,
who
was
in
the
process
of
leading
a
review
of
the
off-boarding
process.
To
address
this
points
precisely,
I
think,
you're
right
in
practice.
It
may
be
hard
in
case
a
rogue
agent
takes
hold
of
the
funds
more
reason
to
to
have
a
steady
sort
of
drum
beat
of
returning
funds
and
the
tim
black's
question.
I
think
in
practice
it
may
or
may
not
be
juniors
or
the
token
holders,
but
I
think
when
principal
it
should
be.
A
Okay,
can
we
can
we
just
very
quickly
go
through
the
super
bear
scenario,
because
I
think
that's
really
interesting
and-
and
I
think
you
know
we
still
have
some
to
cover,
so
people
can
stick
around-
maybe
another
25
minutes
so,
like
maybe
10
10
minutes
longer
than
one
and
a
half
hour,
then
I
think
we
should
be
able
to
cover
the
last
points,
but
I
love
this.
I
think
this
is
a
great.
You
know,
like
super
bear
scenario,
that's
the
kind
of
stuff.
I
want
to
hear
right.
That's
that's!
That's
something.
A
That's
I
think
relevant
to
a
lot
of
people
and
sort
of
it's
on
just
makes
sense
why
it's
relevant
so
I'd
love
that
as
an
example.
C
E
So
as
a
sort
of
standard
stratified
practice,
I
get
the
worst
slides.
This
is
a
the
most
terrifying
slide,
maybe
of
the
deck.
So
this
is
disconnected
from
all
of
our
previous
forecasts
and
what
we
did
was
take
a
current
monthly
run
rate
and
then
sort
of
annualize
it
and
in
the
process
we
nuked
everything
by
as
much
as
we
could
to
see
what
the
impact
on
the
profitability
of
the
protocol
would
be
in
practice.
E
You
know
to
the
point
on
the
on
the
level
of
the
seniority
of
claims
of
the
operating
reserves
and
their
their
sort
of
rank
in
the
loss.
Absorption
we're
assuming
that
operating
reserves
take
the
first
loss
so
to
the
extent
that
these
15
million
are
held,
they
would
be
hit
first,
followed
by
the
surplus
buffer.
E
However,
in
the
event
of
a
super
bear
of
this
kind,
we
would
certainly
recommend
that
the
dial,
reduce
and
reallocate
core
unit
budgets
and
optimize
spent
for
a
new
reality
which
may
be
you
know.
There
are
myriad
reasons
why
such
a
scenario
could
take
place.
Whatever
the
state
teeth
becomes
the
preferred
collateral
of
choice.
Nobody
wants
to
collateralize
anymore.
E
You
know,
there's
an
infinite
number
of
reasons
why
crypto
lending
may
not
be
as
interesting
or
you
know.
Real
world
asset
default
rates
go
through
the
roof.
It's
fun
to
speculate
on
what
to
go
wrong.
You
know
we
won't
occupy
too
much
of
your
time
doing
it,
but.
A
E
E
A
All
right,
awesome,
yeah,
I
mean
this
is
great.
I
mean,
I
think,
that's
like
that's
a
that's
like
a
cool
piece
of
information
that
that
is
useful
to
be
able
to
look.
We
have
this
model
that
says
in
the
absolute
really
horrific
scenario.
A
We
would
actually,
you
know,
be
able
to
yeah
like
in
theory,
if
we
kept
paying
for
everything
we
keep
keep
running
for
three
years,
but
also,
I
think
this
this
this
this
like
now,
I'm
just
sort
of
interpreting
this
a
little
bit
right,
which
is,
I
guess,
is
supposed
to
be
the
point
of
these
voter
committees
as
well
right,
but
this
makes
me
think
that
we
don't
have
to
be
so
focused
on
like
cutting
budgets
right
now
or
like
thinking
that
that
right
now
is
sort
of
a
there's,
an
urgency
to
to
cut
budgets
right
in
a
sense.
A
In
that
kind
of
scenario
we
would
actually
have
three
years
to
sort
of
I
mean
I
mean
I
mean,
or
rather
right,
like
there'd,
be
a
lot
multiple
years
where
we
could
sort
of
carefully
take
sort
of
this
kind
of
drastic
action.
That
would
be
necessary.
So
you
know
we
won't.
We
don't
have
to
be
like
completely
paranoid
about
it
right
now
and
think
about
like
cutting
things
that
could
like.
Could
that
could
impact
our
long-term
growth?
I
think.
E
So
on
on
the
cutting
or
or
lack
thereof,
I
think
one
thing
so
one
thing
that
we've
noticed
is
that
the
expense
profile
of
the
protocol
has
lagged
the
accumulation
of
the
surplus
buffer
by
about
six
months,
which
is
logical.
So
the
surplus
buffer
over
the
course
of
2021
has
rapidly
accumulated
with
an
influx
of
new
business
and
then
over
the
course
of
2021.
E
And
then
you
know
a
second
order.
Discussion
might
be,
how
do
we
make
these
expenses
less
fixed
and
more
variable
rates,
so
the
revenues
of
the
protocol
are
highly
dependent
at
the
moment
on
on
the
price
of
ethan
dollars.
Basically,
whereas
our
core
unit
expenses
are
in
dollars,
so
there's
an
element
of
dephasing
here,
which
makes
us
quite
vulnerable
and
produces
the
exact
sort
of
effects
that
we're
seeing
today.
E
So
you
know
what
I
don't
know
what
the
solution
to
this
is
but
another
that
would
definitely
be
a
second
order
way
of
thinking
about
the
core
unit
budgets
and
introducing
a
bit
more
variability
or
a
bit
less
variability
in
the
revenues.
A
If
we're
going
to
spend,
we
have
to
make
sure
we're
getting
results
and
that's
that
we
were
already
getting
into
it
and
in
with
the
kpis
and
so
on,
and
so
this
is,
I
think
now
I
really
love
to
get
over
to
to
water
and
acs
and
they're
they're
sort
of
multi-tool
silver
bullet
tool
that
I'm
really
excited
about,
and
that
actually
helps
get
into
this
a
little
bit.
And
how
can
this?
How
can
we
impress
you
to
get
closer
to
that
reality?.
D
D
These
are
designs
and
to
to
be
clear.
So
this
is
the
performance
dashboard
that
we've
been
talking
about
for
a
while
and
really
the
idea
is
that
this
would
tackle
or
help
to
tackle
the
information.
The
huge
information
cost
of
of
the
doubt
today
right.
So,
as
rooney
mentioned,
we
are
we're
being
very
transparent
in
the
information
that
we
share
everywhere.
D
But
in
order
to
get
an
answer
to
specific
questions
it,
it
always
takes
a
lot
of
time
to
to
dig
up
and
synthesize
the
available
information,
and
so
I
think
strategic
finance
has
done
a
great
job,
collecting
the
information
and
and
presenting
it
in
a
way
that
that
make
that
makes
it
digestible.
D
What
we
want
to
do
is
just
to
in
the
the
medium
and
longer
term
is
to
to
do
this
continuously
through
through
the
dashboard
and
and
it
infrastructure
right
so
yeah.
The.
D
The
screen
sharing
works,
I'm
assuming
so.
This
is
one
of
the
the
first
designs
of
the
dashboard
and
it's
not
finished
yet,
but
very
much
work
in
progress.
But
the
idea
would
be
to
to
collect
this
information
and
present
it
in
a
really
digestible
way.
D
Make
sure
that
the
collection
of
this
data
is
also
is
automated
as
much
as
possible,
and
so
the
way
that
we
we're
looking
at
it
is
that
there's
there's
basically
four
four
areas
of
of
information
that-
and
this
is
about
operations
right,
so
understanding
the
operations
of
maker
data.
What's
going
on
who's
working
on
what
and
what
is
costing
the
the
dow.
D
The
way
that
we
split
it
up
is
the
so,
on
the
one
hand,
created
an
easier
overview
of
who
is
active
in
there,
who
are
the
core
units,
who
are
the
people
and
then
combine
that
with
the
financial
data
and
combine
that
with
the
the
road
map
information
which
is
basically
saying
what
do
we
get
for
for
what
it's
costing
us
and
so
yeah?
Very
simply.
What
would
this
mean?
D
It
would
mean
that
there
is
a
a
dashboard
that
you
can
go
to
and
that
I
would
present
you
with
very
basic
information
like
who
are
the
core
units.
What
is
their
current
status
since
when
have
they
been
active?
D
What
are
the
road
maps
that
they're
involved
in?
How
much
are
the
spending
who
are
the
the
team
members
and
how
big
are
the
teams
and
yeah
what
are,
for
example,
their
social
media
channels?
So
do
they
have
a
website?
Do
they
have?
What
is
their
forum
forum
section?
D
Do
they
have
a
discord
server?
Do
they
have
a
twitter
etc?
And
that's
this
kind
of
simple
overview
that
that
is
currently
sometimes
difficult
to
define?
Definitely,
if
you're
an
outsider,
not
knowing
where
to
look,
and
so
then
the
idea
is
that
you
would
be
able
to
to
dig
deeper
and
as
deep
as
you
want,
and
this
depends
on
which
user
profile
we're
talking
about.
D
D
For
example,
there
would
be
the
the
right
kind
of
summary
for
each
kind
of
user
right,
and
these
are
just
a
number
of
examples
and
in
a
way,
they're
not
the
best
examples,
because
they
still
have
quite
a
high
degree
of
detail,
but
for
you
you
could
have
a
a
core
unit
finances
overview
page,
which
just
presents
a
number
of
key
metrics
like
what
what
did
the
coordinates
spend
last
month?
D
What
are
they
forecasting
to
spend
this
month?
What
is
their
budget
cap?
How
many
ftes
are
on
the
team
and
what
is
the
cost
of
the
mtr
bonus?
D
We
are
also
thinking
about
highlighting
the
ways
in
which
the
core
unit
is
an
outlier.
So,
for
example,
if
this
is
the
core
unit
with
the
highest
mtr
cost
for
fte
or
something
then
this
is,
the
kind
of
insight
would
be
be
highlighted
in
a
separate
section.
These
are
the
kind
of
data
outliers
that
people
are
trying
to
typically
look
for
in
in
the
more
comprehensive
data
overviews.
D
Of
course
we
want
to.
We
want
to
make
it
easy
to
understand
the
different
financial
parameters
like
what
is
the
koreans
budget
cap?
What
is
their
forecast?
What
have
they
actually
been
spending?
How
does
it
compare
to
the
the
median
and
the
dow?
D
D
The
kind
of
tables
that
are
created
by
strategic
finance
every
month
with
much
efforts
can
also
be
yeah
just
be
automated
here.
So
the
infrastructure
we're
developing
is,
on
the
one
hand,
it's
a
dashboard,
it's
an
api,
so
this
data
will
also
be
available
programmer
pro
programmatically
for,
for
example,
the
strategic
finance
team.
So
you
can
then
pull
it
into
a
spreadsheet
and
create
other
summaries.
D
We
also
are
wrapping
up
a
tool
now
that
will
allow
core
units
to
continue
to
keep
the
details
of
their
budgets
private
as
they
are
used
to
and
then
push
the
summary
automatically
summarize
it
and
then
push
the
summary
data
to
the
api
and
make
it
publicly
available
or
just
yeah
a
simple
push
of
the
button.
A
D
Me,
let
me
just
finish-
maybe
run
it
to
to
clarify
so
this
part
that
I'm
showing
now
it
just
happens
to
be
the
first
segment
that
we
are
working
on
and
our
we're
already
creating
the
designs
of
the
idea
is
that
once
we
have
the
core
unit
data,
once
we
have
the
finance
data
that
we
add
road
maps
and
deliverables
data
to
this
right
and
the
kind
of
questions
that
we've
been
asking
in
this
call.
So
what
are
the
high
level
objectives?
D
How
do
the
high
level
objectives
translate
into
the
low
level
tasks?
This
is
another
segment
of
the
dashboard
that
would
be
added,
as
well
as
the
more
insight
into
who
are
the
the
people
working
on
all
this
work,
which
core
units
are
involved
with
which
work,
etc,
etc.
D
Right,
so
what
I'm
showing
here
is
just
these
are
the
first
elements,
because
these
are
happen
to
be
the
ones
that
we've
been
we've
been
working
out
now
and
one
example
are
the
the
the
monthly
budget
statements
that
the
coordinates
advised
by
ses
at
least
are
already
producing
and
right
now,
there's
buried
somewhere
on
github,
and
you
really
need
to
know
where
to
look
if
you
want
to
find
them.
D
But
this
is
an
example
of
like
the
other
side
of
the
spectrum
that
is
like
very
detailed
with,
for
example,
the
the
audit
reports
on
the
budgets
etc.
So
to
make
this
all
available
through
a
single
in
a
single
place
and
provide
the
right
level
of
distraction
to
the
right
kind
of
users.
So
for
the
users
who
are
casually
involved,
make
it
really
simple
and
summarized
for
those
who
want
to
know
the
details,
make
it
possible
to
dig
down
into
these
details
and
yeah.
D
So
that's
what
we're
working
on
and
if
you're
interested
for
more
details,
then
make
sure
to
join
our
status
call
next
week,
friday
and
with
this
all
I'll
leave
it
to
rooney.
A
Yes,
so
the
key
point
here
is
really
like
make
it
all
available
in
one
place
right,
because
I
think
maybe
one
way
to
to
think
of
this
is
that
it's
kind
of
I
mean
like
you
know
it
can
be
compared
to
to
actually
dow
tools,
although
I
think
it's
like
very
advanced,
it's
also
very
specific
to
exactly
how
we
work
right.
So
it's
like
tailor-made
to
maker
right,
but
there's
like
a
whole
industry
like
of
dow
tools
right
where
they
make
these
kind
of
things.
A
That's
what
help
dallas
work,
because
this
is
sort
of
the
common
sense
around.
If
you
have
a
flat
organization,
then
you
need
more
process
and
more
tools
and
more
sort
of
things
to
turn
on
to
help
you
right,
because
otherwise
it
just
becomes
impossible
to
coordinate
when
you,
when
you
don't
have
a
hierarchy
and
but
but-
and
I
think
maybe
you
could
even
compare
this
to
like
an
erp
software
or
something
like
that
right.
A
It's
like
a
like
a
big
giant
program
and
it
sort
of
almost
can
run
the
the
business
in
a
sense
right
and
and
like
and
and
that's
just
something,
I'm
incredibly
excited
about,
because
I
wasn't
actually
aware
of
this
at
all,
but
I
was
sort
of
banging
the
drum
about
the
shared
language
share
language
right.
Reducing
information
cost
finding
a
way
to
sort
of
present
in
from
like
the
way
you
coordinate,
work
should
look
similar
to
the
way
you
present
sort
of
the
the
output
and
the
results
so
that
you
have
this
language.
A
That
becomes
very
easy
to
understand.
Instead
of
having
to
translate
a
lot
right,
and
so
I
think-
and
I
think
then
taking
that
a
step
further
and
building
out
actual
dow
tools
and
actual
sort
of
software
that
helps
us
do.
This
is
such
an
obvious,
huge
win
right,
and
this
is
also
a
typical
example.
How
maker
always
got
like
crazy?
All
these,
like
rabbits
in
the
heads
hidden
in
the
core
units,
right
that
we
have
an
entire
like
dow
tool
thing
that
that
already
is
developed
pretty
far.
A
I
don't
want
better
by
the
share
my
screen
right,
but
one
of
the
things
that
was
in
this
initial
slide
representative,
like
quoting
like
aligning
and
coordinating
the
voters,
the
delegates
and
the
supporting
core
units
right
and
then
a
big
part
is
we
need
to
really
like
the
supporting
co
units,
they're
already
doing
a
lot
of
work
like
finance
and
and
and
ses
already
doing
a
lot
of
things
that
can
help
improve
efficiency
and
figure
out,
whether
something
lacking
where
the
opportunities,
but
what
we
need
to
do
as
voters,
I
think,
is
really
sort
of
get
behind
them
and
and
support
them
and
empower
them
right
and
actually
be
the
ones
that
sort
of
push
for
these
things
to
be
used
and
also
that
there
is
a
sort
of
a
common
right.
A
A
I
really
think
it's
like
more
than
anything
else:
strategic
finance
and
ses
beginning
to
sort
of
integrate
their
efforts
and-
and
I
think
basically
like
basing
it
on
on
on
I
mean
this
tool
is
still
not
full
developed,
and
I
think
it's
likely
that
if
we
start
putting
more
focus
on
it,
then
we
can
actually
everyone
can
begin
to
have
a
more
impact
on
like
how
exactly
it
gets
developed
right
so
that,
but
but
I
think,
more
than
anything
else,
getting
a
proper
sort
of
alignment
between
strategic
finance
and
ses
and-
and
then
you
use
this
as
sort
of
the
common,
the
common
language
and
the
common
tool
that
we
use
for
for
how
we
sort
of
work
like
how
we
sort
of
get
the
overview
and
how
we
work
with
that
overview
and
then
also,
most
importantly,
that
this
is
the
language
we
use
to
present
to
the
voter
committees
right.
A
So,
like
I'm
really
looking
forward
to
I
mean
this
is
sort
of
my
dream
scenario.
Is
that
right,
like
that?
We
get
this
sort
of,
because
to
some
extent
this
is
a
little
bit
like
a
jira
right.
That's
one
of
the
ways:
why
don't
he
explain
it
to
me
right?
This
is
a
way
to
operationalize
stuff,
but
it
can
also
you
can.
A
At
the
same
time,
the
same
thing
can
be
used
to
almost
like
be
the
slides
that
that
the
strategic
finance
presented
to
us
earlier
if
it
gets
developed
properly
right,
so
so
so
that
so
basically,
instead
of
sort
of
wowder
and
scs
coming
with
their
slides
and
their
own
something,
and
then
it's
sort
of
one
way
they
like
to
present
information,
and
then
she
finds
another
way
to
present
information.
A
And
then,
if
you
could
dig
down
into
the
the
sort
of
the
the
working
coordinates,
then
they
have
even
more
sort
of
like
that.
There
are.
There
are
ideas
and
creative
ways
to
sort
of
think
about
stuff
and
talk
about
stuff
and
d3ms
and
whatever
how
they
categorize
things
and
if
we
instead
all
align
around
building
this
single
ultra
powerful
tool
and
then
everyone
they
sort
of
built
their
own
modules
in
it.
But
it's
ultimately
still
this.
A
This
open
source,
dow
tool
that
we
use,
then
we
can
just
unlock
so
much
efficiency
right,
because
the
information
cost
is
going
to
go
down
considerably
because
every
single
time
someone
is
presenting
us
something
it
would
basically
be
they
would
like.
They
wouldn't
even
be
generating
data
to
present
us.
What
they
would
be
doing
is
they'd,
be
screen
sharing
and
then
they
would
be
sort
of
handholding
us
about
like.
Let's
look
over
here
into
like
click
there
and
then
click
there.
And
then
this
is
the
thing.
That's
important
look,
look!
A
How
much
die
the
tool
says
is
sitting
around
in
the
core
unit
accounts.
This
is
something
we
need
to
look
at
right
or
here,
here's
a
red
flag.
I
can
you
know
here's
something.
A
I
want
to
point
out
there's
something
here
like
the
we
should
off-board
this
coin
or
something
like
that
right
and
and-
and
I
just
think
that
that
already
in
the
in
the
makers
like
where
we
are
now
this
is,
I
think,
there's
so
much
to
gain
from
from
trying
to
to
get
something
like
this
done,
but
it
will
need
voter
alignment
like
you'll
need
kind
of
expectations
said
from
from
the
voter
committees
that
this
is
what
we
expect
all
the
coordinates
to
collaborate
on
on
developing
and
then
the
next
crazy
step
is
that,
although
this
is
not,
you
know,
it's
not
really.
A
A
How
do
you
create
an
entire
dao
like
sort
of
like
that
and
it
works
and
it
can
deliver
value
and
it
can
organize,
and
one
way
to
think
about
is
this
is
really
just
you
run
another
instance
of
this
tool.
Now
you
got
a
new
dial
that
works
and
and
and
that's
another
way
to
sort
of
you
can
reuse
so
much
of
this
stuff,
which
I
think
is
really
really
amazing,
so
I
just
wanted
to
really
and
another
just
another
example
of
this
whole
information
costing
right,
I
was
look.
A
Of
course,
but
then
also,
if
you're
a
voter,
this
is
also
the
place
where
you
go
to
like
get
the
high
level
picture,
maybe
figure
out
where's
the
voter
committee
or
something
like
learning
the
language.
So
you
can
understand
the
voter
committee
or
dig
all
the
way
down
into
the
details
which
you
should
be
able
to
as
a
builder.
If
you
wanted
to
right-
and
it
actually
should
be-
it
shouldn't
be
like
spoon
fed
necessarily
right,
but
it
should
be
sort
of
as
convenient
as
possible
that
the
realistic
to
make
it.
A
So
I
just
really
want
to
pump
that
basically,
because
I
think
that's
like
super
exciting,
and
I
think
that
that
that's
one
of
the
themes
I
would
love
to
to
push
for
the
coming
border
committees
is
initially
strategic,
finance
and
ses
working
together
to
basically
sort
of
take
a
more
ambitious
approach
for
this
tool,
so
that
it
can
begin
to
be
used
to
sort
of
be
the
way
that
that
we
present
things
at
voda
committees.
A
And
so
we
start
to
develop
a
shared
language
and
really
start
to
understand.
How
do
these?
You
know
how
do
the
again
right?
The
supporting
core
units,
the
delegates
and
the
voters
work
together
and
I
think.