►
From YouTube: Governance and Risk | Ep. 211
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https://forum.makerdao.com/t/governance-and-risk-211-thursday-october-06-at-17-00-utc/18244
▼Disclaimer▼
𝘛𝘩𝘪𝘴 𝘤𝘰𝘮𝘮𝘶𝘯𝘪𝘤𝘢𝘵𝘪𝘰𝘯 𝘪𝘴 𝘱𝘳𝘰𝘷𝘪𝘥𝘦𝘥 𝘧𝘰𝘳 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴 𝘰𝘯𝘭𝘺. 𝘛𝘩𝘦 𝘷𝘪𝘦𝘸𝘴 𝘢𝘯𝘥 𝘰𝘱𝘪𝘯𝘪𝘰𝘯𝘴 𝘦𝘹𝘱𝘳𝘦𝘴𝘴𝘦𝘥 𝘪𝘯 𝘵𝘩𝘪𝘴 𝘮𝘦𝘦𝘵𝘪𝘯𝘨 𝘢𝘳𝘦 𝘵𝘩𝘰𝘴𝘦 𝘰𝘧 𝘵𝘩𝘦 𝘱𝘦𝘰𝘱𝘭𝘦 𝘪𝘯𝘷𝘰𝘭𝘷𝘦𝘥. 𝘛𝘩𝘦𝘺 𝘥𝘰 𝘯𝘰𝘵 𝘳𝘦𝘧𝘭𝘦𝘤𝘵 𝘵𝘩𝘦 𝘰𝘧𝘧𝘪𝘤𝘪𝘢𝘭 𝘱𝘰𝘭𝘪𝘤𝘺 𝘰𝘳 𝘱𝘰𝘴𝘪𝘵𝘪𝘰𝘯 𝘰𝘧 𝘔𝘢𝘬𝘦𝘳𝘋𝘈𝘖 𝘰𝘳 𝘢𝘯𝘺 𝘰𝘧 𝘪𝘵𝘴 𝘤𝘰𝘯𝘵𝘳𝘪𝘣𝘶𝘵𝘰𝘳𝘴, 𝘊𝘰𝘳𝘦 𝘜𝘯𝘪𝘵𝘴, 𝘰𝘳 𝘢𝘧𝘧𝘪𝘭𝘪𝘢𝘵𝘦𝘴. 𝘛𝘩𝘪𝘴 𝘤𝘰𝘮𝘮𝘶𝘯𝘪𝘤𝘢𝘵𝘪𝘰𝘯 𝘮𝘢𝘬𝘦𝘴 𝘯𝘰 𝘳𝘦𝘱𝘳𝘦𝘴𝘦𝘯𝘵𝘢𝘵𝘪𝘰𝘯𝘴 𝘢𝘣𝘰𝘶𝘵 𝘵𝘩𝘦 𝘦𝘯𝘥𝘶𝘳𝘪𝘯𝘨 𝘢𝘤𝘤𝘶𝘳𝘢𝘤𝘺 𝘰𝘧 𝘵𝘩𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘰𝘳 𝘪𝘵𝘴 𝘢𝘱𝘱𝘳𝘰𝘱𝘳𝘪𝘢𝘵𝘦𝘯𝘦𝘴𝘴 𝘧𝘰𝘳 𝘢 𝘨𝘪𝘷𝘦𝘯 𝘴𝘪𝘵𝘶𝘢𝘵𝘪𝘰𝘯. 𝘛𝘩𝘪𝘴 𝘤𝘰𝘯𝘵𝘦𝘯𝘵 𝘪𝘴 𝘱𝘳𝘰𝘷𝘪𝘥𝘦𝘥 𝘧𝘰𝘳 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴 𝘰𝘯𝘭𝘺 𝘢𝘯𝘥 𝘴𝘩𝘰𝘶𝘭𝘥 𝘯𝘰𝘵 𝘣𝘦 𝘳𝘦𝘭𝘪𝘦𝘥 𝘶𝘱𝘰𝘯 𝘢𝘴 𝘭𝘦𝘨𝘢𝘭, 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴, 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭, 𝘰𝘳 𝘵𝘢𝘹 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘠𝘰𝘶 𝘴𝘩𝘰𝘶𝘭𝘥 𝘤𝘰𝘯𝘴𝘶𝘭𝘵 𝘺𝘰𝘶𝘳 𝘰𝘸𝘯 𝘢𝘥𝘷𝘪𝘴𝘦𝘳𝘴 𝘢𝘴 𝘵𝘰 𝘵𝘩𝘰𝘴𝘦 𝘮𝘢𝘵𝘵𝘦𝘳𝘴. 𝘙𝘦𝘧𝘦𝘳𝘦𝘯𝘤𝘦𝘴 𝘵𝘰 𝘢𝘯𝘺 𝘥𝘪𝘨𝘪𝘵𝘢𝘭 𝘢𝘴𝘴𝘦𝘵𝘴 𝘢𝘯𝘥 𝘧𝘪𝘯𝘢𝘯𝘤𝘦-𝘳𝘦𝘭𝘢𝘵𝘦𝘥 𝘵𝘦𝘳𝘮𝘪𝘯𝘰𝘭𝘰𝘨𝘺 𝘢𝘳𝘦 𝘧𝘰𝘳 𝘪𝘭𝘭𝘶𝘴𝘵𝘳𝘢𝘵𝘪𝘷𝘦 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴 𝘰𝘯𝘭𝘺. 𝘛𝘩𝘦𝘺 𝘥𝘰 𝘯𝘰𝘵 𝘤𝘰𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘦 𝘢𝘯𝘺 𝘳𝘦𝘤𝘰𝘮𝘮𝘦𝘯𝘥𝘢𝘵𝘪𝘰𝘯 𝘧𝘰𝘳 𝘢𝘯𝘺 𝘢𝘤𝘵𝘪𝘰𝘯 𝘰𝘳 𝘢𝘯 𝘰𝘧𝘧𝘦𝘳 𝘵𝘰 𝘱𝘳𝘰𝘷𝘪𝘥𝘦 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭, 𝘰𝘳 𝘰𝘵𝘩𝘦𝘳 𝘢𝘥𝘷𝘪𝘴𝘰𝘳𝘺 𝘴𝘦𝘳𝘷𝘪𝘤𝘦𝘴.
A
All
right,
hello,
everyone
and
welcome
to
the
211
governance,
nursing
and
maker
Dao.
My
name
is
Peyton.
I
am
one
of
the
governance
facilitators
joined
by
a
bunch
of
awesome
maker
participants,
people
who
are
interested
in
contributing
to
the
ecosystem
as
we
get
started
here,
go
ahead
and
take
us
to
the
next
slide.
They're
gonna
kick
us
off
with
some
rules.
This
may
be
your
first
time
joining,
maybe
you're
a
long
time
calling
either
way
we're
happy
you're
here.
A
This
is
our
weekly
call,
where
we
get
to
talk
about
Community
governance
risk
and
all
the
things
that
are
going
on
in
maker
down.
So
let's
try
not
to
talk
over
each
other.
If
you
can
pop
on
those
cameras,
it's
always
nice
to
see
faces,
we
do
have
a
race
hand
function.
You
can
also
drop
questions
and
comments
in
the
chat
as
a
render
when
you
first
hop
on
a
mic
and
you
can
introduce
yourself,
that's
always
helpful
and
finally,
it
is
an
open
meeting.
A
A
It's
not
without
further
Ado,
let's
hop
into
it
all
right.
On
the
boat
front,
fairly
quiet
week,
I
decided
to
combine
everything
on
one
side.
We
can
run
through
pretty
quickly.
We
did
have
an
Open
Market
Committee
proposal
pass
with
a
couple
of
exchanges.
We
also
approved
a
velodrome
multi-sig
for
managing
the
voting
Awards
there.
So
look
for
updates
on
those
here
soon.
A
There
is
one
ongoing
green
light
pole
voting
pins
on
Monday
a
week
for
Monday,
so
you
do
have
some
time
to
get
in.
There
leave
your
opinion
on
Anchorage
lending
in
crypto
for
the
executive
votes.
We
did
have
an
executive
posted
yesterday
that
has
already
passed.
It
does,
however,
have
office
hours
on,
so
it
won't
be
able
to
execute
until
Monday
that
contains
the
monotalis
onboarding
some
coordinate
mkr,
transference
and
streams,
as
well
as
the
funding
for
the
ambassador
program.
A
A
B
B
Thank
you.
Next,
we
have
so
these
formal
submissions
for
the
end
game
related
proposals
all
of
these
eight
proposals,
so
that
is
maybe
83
recognized.
Lounge
meta,
dial
clusters,
84
activate
protocol,
owned
fault,
emulation,
mid
4c4,
sub
proposal.
One
map,
removal,
sub
proposal,
map
4c2
sub
proposal,
27
16
amendment,
then
maybe
one
C4
sub
proposal,
one
changing
the
problem
space
and
the
Three
core
unit,
Monday
changes
for
collateral,
Engineering,
Services
risk
and
strategic
Finance
core
units.
B
So
next
we
have
the
Standalone
mips
and
others.
First
move
81,
coinbase,
usdc
institutional
rewards,
which
will
transfer
one
third
of
the
psm's
usdc
into
coinbase
custody
to
earned
rewards
as
Pros
mentioned.
This
will
be
one
of
the
discussion
topics
for
this
call.
Then
we
have
82
monetize
conveys
Appaloosa,
one
facilitator
of
boarding
supervisor
for
The
Real
World
Finance
facilitator.
B
B
Next,
we
have
four
core
unit
budgets
that
have
recently
been
posted.
So
there
is
some
development
of
school
unit.
Gov
comes
immunified
security,
size
stream,
Auction,
Services
or
units
very
core
unit
facilitators.
Please
remember
note
that
the
submission
window
for
new
budgets
will
close
next
Wednesday
end
of
day.
That's
October,
the
12th,
and,
if
formally
submitted,
they
will
enter
the
November
governance
cycle.
B
Finally,
we
have
our
weekly
cycle
sub
proposals.
It's
the
special
purpose
fund
for
50
000
die
to
Pioneer
defined
native
database
for
modeling
sentiment,
driven
Dynamics
and
risks.
The
author
is
still
curating
this
proposal,
so
once
it
states
unmodified
for
seven
days,
it
will
be
eligible
to
enter
a
weekly
cycle.
B
A
C
Yeah
I'm
here
so
I'm,
not
gonna.
Do
the
update
I
am
just
going
to
post
the
link
to
a
pre-recorded
video.
It's
about
eight
minutes
long
about
just
about
as
long
as
the
usual
update
and
so
we're
gonna
skip
it
and
save
everybody
some
time,
and
so,
if
you
would
like
to
check
it
out,
just
watch
the
video
back
to
you.
Bros.
A
Thanksgiving,
it's
a
nice
little
update
from
artem
who's
away
at
Sea
right
now,
as
well,
so
a
little
care
to
watch
it
I
suppose
I'm
taking
this
on
I
believe
that'll
bring
us
to
our
initiative
updates
and
we
have
one.
Today,
that's
going
to
be
talking
about
choked
out
I
know:
I
have
a
couple
of
recognized
delegates
who
are
behind
this
Tim
and
Raphael.
If
you
guys
want
to
take
the
microwave
feel
free.
D
Thank
you,
Peyton
amazing,
yeah
Joker.
We
are
at
it
again,
so
I
think
we
shaved
it
a
couple
of
times.
So
this
time
we
want
to
bring
some
positive
energy.
Some
optimism
into
entity
and
plan
team
was
already
gracious
enough
to
do
these
RFC
ABCs,
where
we
kind
of
took
the
plan
apart
and
said,
like
hey,
what
can
go
wrong?
What
needs
Improvement,
but
don't
we
understand,
and
now
we
want
to
use
the
opposite
angle
and
just
ask
well.
D
It
like
what
what
kind
of
rides
like
what
can
happen.
How
can
can
it
improve
without
the
sport
maker,
and
we
wanted
to
put
it
on
chain
with
job
Tower
and
David
Phelps
has
been
extremely
supportive
and
made
an
ad
drop
thanks
to
the
Hernando
GF
GitHub
repo,
where
we
dropped
every
holder
of
one
MPR,
including
addresses
that
delegated
these
MPR,
so
that
you
now
have.
D
F
E
E
G
D
Think
these
mode
of
governance
works
extremely
well
for
a
couple
of
issues,
but
it's
it's
kind
of
an
ecosystem
of
thinking
and
by
changing
that
Paradigm.
We.
We
believe
that
that
this
gives
room
for
new
ideas
to
grow.
So
please
bear
with
us
on
these
experiments,
because
I
think
there's
a
lot
of
value.
We
can
get
generate
there
and
maybe
team
can
speak
a
little
bit
about
the
the
possibilities
that
are
in
Star.
If
we
choose
to
accept
that
just
for
my
personal
perspective
for
me
it
has
really
changed
the
way.
D
H
Yeah
sure
so,
I
think
at
the
end
of
the
day,
it's
important
to
frame
it.
It's
just
another,
useful
governance
tool
and
if
you
put
that
in
the
context
of
maker,
our
governance
tools
are
in
need
of
a
refresh
or
something
that
can
move
a
little
quicker,
especially
something
that
has
on-chain
measurement
I.
Think
the
dream
for
joked
hour.
H
The
ideal
implementation
would
be
that
it's
something
we
can
use
in
addition
to
RFC,
but
as
I
mean
is
everyone
on
this
call
or
anybody
who's
checking
out
the
link
is
seeing
the
possibilities
are
kind
of
open
because
there's
these
extended
periods
of
submitting
and
then
voting
plus
the
other
mechanics
of
what
you
can
do.
So
we
can
run
pulse
checks
on
a
weekly
basis.
We
can
have
different
rules
for
what
thing
wins,
so
we
can
change
consensus
models.
H
We
can
distribute
tokens
for
every
type
of
thing
we
can
think
of
Under
the
Sun.
You
know,
they're
they're
not
essentially
meant
to
have
a
monetary
value
they're
more
for
using
the
on-chain
data
right.
So
we
can
play
with
the
I.
Don't
know
if
anybody
remembers
the
breaker
or
bkr
token,
but
there's
all
sorts
of
interesting
ways.
We
could
air
drop
things
and
do
different
contests.
H
You
know,
obviously
these
are
all
just
different
ideas
that
are
good
to
experiment
with
I
think
once
the
sort
of
current
voting
environment
calms
down
over
the
next
month
and
the
you
know,
the
world
changes
in
November
and
we
all
start
to
like
slow
down
I
think
that's
the
time
to
really
think
through
the
possibilities
where
it's
at,
but
it
shouldn't
just
be
joked
out.
The
only
tool,
there's
like
other
consensus
models
that
we
just
start
to
experiment
with
I
think
so.
H
A
H
Yeah-
and
they
also
use
this
partner
called
coin
coin,
buys
I
think
for
minting
and
distributing
tokens.
That
also
has
really
interesting
features.
You
could
use
it
to
say
if
someone
is
holding
another
token.
This
is
how
we
did
it
for
mkr,
but
it
could
also
be
an
nft,
so
you
could
airdrop
it
to
everybody.
H
A
A
All
right,
let's
get
into
the
discussions,
we
are
trying
something
a
little
different
today,
so
I
hope
we'll
get
plenty
of
participation
and
and
welcome
to
feedback
and
all
sorts
of
other
things
for
making
this
call
better,
but
kind
of
wanted
to
start
out
today.
Talking
about
rip81,
that's
the
coinbase
usdc
institution
of
awards.
We're
gonna!
Kick
it
off.
A
A
A
Where
it's
only
fair
that
gavalva
starts
out
here,
give
it
another
kind
of
our
idea
to
talk
about
this
discussion
and
yeah
I.
Think
a
lot
of
people
may
not
always
know
exactly
what
the
valve
is
doing
in
the
background,
so
I
figured
I'd
take
a
moment
to
use
the
Smith
and
showcase
that,
quite
simply,
it's
yeah
font,
color
I
tried
every
color
David,
that's
the
green,
but
we'll
deal
with
it.
For
now.
A
It's
it's
all
about
coordination
right
like
basically,
our
job
is
kind
of
an
administrative
function
within
the
Dow.
So
if
this
pass
is
one
thing
it's
specifically
asked
of
that
alpha
or
at
least
of
maker
governance-
is
that
a
signal
request
is
put
forward
to
onboard
entity
that
the
coinbase
could
kyc
in
order
to
kind
of
facilitate
and
make
sure
this
transaction
could
could
happen.
A
So
the
map
specifies
that
would
either
be
coming
from
strategic,
Finance,
CES
or
growth,
so
our
drive
is
called
alpha
is
to
kind
of
reach
out.
If
this
were
to
pass
and
say
all
right
guys,
what
are
we
thinking
for
an
entity?
Here's
some
of
the
things
you'd
want
to
consider
putting
in
The
Proposal
to
make
it
good,
for
you
know,
kind
of
everyone
who
who
might
be
voting
on
it
later.
A
Cool
so
I
think
that's
a
pretty
good
overview
for
what
Alpha
does
I
didn't
want
to
take
too
long
here,
and
there
are
several
other
core
units
mentioned
by
the
Smith
that
I'd
love
to
hear
from
I
see
we
got
some
questions
from
from
the
chat
already,
which
is
awesome.
I
will
go
ahead
and
kind
of
save
those
for
the
end,
because
we
do
have
a
big
discussion
segment
planned
but
do
keep
them
coming
in
and
chat.
A
I
Thank
you.
Thank
you,
Ben
for
the
introduction
and
the
Beautiful
slide
in
terms
of
what
SF
will
do
should
the
mid
pass
as
it's
written
in
the
text
of
the
MIP.
We
are
to
seek
approval
for
a
specific
legal
entity,
I.E
and
a
ranger,
and
this
is
basically
you
know.
Working
with
you
know,
monatellis
or
block
tower
who's
been
recently.
Greenland
is
a
ranger
to
help
facilitate
the
creation.
I
Oh
I,
don't
know
how
that
happened,
so
I
don't
know
where
I
left
off,
but
essentially
what
we're
going
to
be
doing
is
you
know
helping
facilitate
a
you
know,
an
appropriate
legal
entity
that
can
help
you
know
onboard
with
coinbase
and
basically
Service
as
a
ranger.
Now,
from
my
perspective,
you
know
this
is
a
dow.
It's
permissionless.
I
Anyone
can,
you
know,
propose
themselves
as
an
arranger
and
be
onboarded
as
an
arranger,
but
I
think
the
counterpriters
that
have
done
so
already
and
have
kind
of
gone
through
the
legal.
You
know
research
to
do
it
in
a
centralized
way.
Montage
block
tower-
probably
the
most
appropriate
at
this
moment
in
time,
but
yeah
this.
What
coinbase
is
mentioned
in
the
map
is
to
structure
it
quite
similarly
to
MIB
65,
where
you
know.
I
Basically,
the
maker
governments
will
still
have
control
over
the
the
funds
and
the
access
to
the
funds
so
and
we're
going
to
help
facilitate
this
happening
through
a
a
single
signal
request,
or
should
this
go
away?
Another
method
approved
by
governance,
so
I
think
that's
the
only
thing
that's
really
mentioned
for
us
in
the
map.
A
Oh
yeah
I
can
appreciate
you
Sharon
wow.
What
you
would
have
to
do
with
this
message,
we'll
all
be
wrong
with
the
cu's
then,
like
I
said,
if
you
have
questions,
feel
free
to
drop
them
in
the
chat,
so
you
don't
forget
and
we'll
get
to
them
in
our
discussions
like
all
right
next
up,
I
believe
I
have
CES
lucky
Irish.
If
you
want
to
take
the
mic.
E
So
now
we've
had
a
Resurgence
of
more
what
I'll
call
self-contained
collateral
mips
and
just
by
nature
of
what
a
MIP
is
sure.
Anyone
in
the
community
can
propose
anything
at
any
time.
Absolutely
that
will
work,
but
when
you're
requesting
resources
from
core
units
and
other
members
of
maker
Dow
there's
a
level
of
due
diligence,
that's
really
required
and
I
did
post
more
of
a
general
comment
on
the
origin,
USD
post,
as
as
some
some
background
and
guidelines,
but
effectively.
E
This
is
that
I
would
highly
encourage
any
of
these
mips
to
take
a
look
at
some
of
the
past
work
that
we've
done
in
the
way
of
the
questions
that
we've
answered,
and
you
know
the
the
details
around
the
deal,
the
legal
and
the
regulatory
structure
and
the
technical
implementation.
So,
for
example,
if
you
haven't
talked
with
our
group
about
a
technical
implementation,
your
MIP
is
incomplete.
It's
just
that
clear
and
so
I'd
highly
encourage,
not
I
can't
force
anyone
to
do
anything.
E
A
Yeah,
thanks
for
everything
facilitators.
Yes,
yeah
I
really
appreciate
you
highlighting
that
that's
a
lot
of
times
when
a
myth
has
passed.
It
may
not
be
super
visible.
What
has
to
take
place
and
particularly,
if
the
you
know,
particularly
if
people
aren't
consulted
in
terms
of
who's,
actually
doing
the
work,
it
can
be
quite
hard
to
know
exactly
how
long
someone
will
take
to
even
get
done
so
I
know
when
people
reach
out
to
us
in
governance.
A
A
J
Yeah
thanks
Peyton.
Well,
what
we
do
is
a
little
bit
different
because
like
for
us
it
the
all
day,
like
the
the
main
thing
to
do
here,
is
to
find
the
partner
like
to
find
the
opportunity.
So
once
it
is
approved,
it
is
more
in
the
hands
of
CES
protocol
engineering,
strategic
finance
and
and
the
other
Korean.
J
So
that's
that's
mainly
what
we
do
in
terms
of
what
what
what
will
happen
once
this
is
approved,
but
our
Focus,
as
I
said,
is
in
to
find
more
of
these
opportunities,
and
for
me
it
is
important
to
remind
delegates
and
the
maker
community
that
try
to
look
at
these
deals
not
by
unique
deals,
but
try
to
look
at
us
if
they
are
part
of
a
solution.
So
we
have
all
of
these
little
capital.
J
What
can
we
do
with
it?
And
the
Strategic
Finance
has
presented
a
very
good
framework
on
how
we
can
take
advantage
of
that
eagle
capital
and
increase
revenues
for
maker
I
think
we
are
doing
all
the
opportunities
that
are
appearing
in
the
Forum
and
it
is.
It
is
very
interesting
for
us,
because
some
of
these
opportunities,
of
course
have
been
because
we
have
been
working
with
a
partner
trying
to
explain
to
them
the
advantages
to
do
something
like
that.
J
But
also-
and-
and
this
is
the
more
interesting
part
for
me-
is
that
other
you
can
like
I've,
been
finding
in
the
Forum
other
proposals
of
projects
that
we
have
never
talked
about
about
that
opportunity.
So
I
think
that
is
thanks
to
like
all
they
know
is
that
we
do
in
our
Twitter,
with
the
agency,
the
pr
agency
and
through
the
announcements
every
time
we
approve
one
proposal
like
this
one
or
every
time
we
onboard
something
like
this,
so
that
that
is
what
we
do
in
growth
and
and
yeah
like.
J
We
will
continue
working
with
other
career
units
to
bring
more
of
these
opportunities
to
the
maker
community
and
and
something
that
I
I
also
have
like
a
lot.
Is
that
I
think
the
community
is
helping
us
to
do
the
term
determine
the
risk
of
these
deals.
I
I
really
appreciate
all
the
questions
that
you
have
been
asking
to
the
partner
because
at
the
beginning,
like
maybe
we
don't
see
like
all
the
different
dimensions
of
of
of
of
okay.
J
J
A
Thanks
Nadia
I
appreciate
you
letting
us
know
kind
of
how
you
approach
that
and
and
how
the
community
can
help.
So
we
did
have
one
more
volunteer.
I
know
commercial
City,
you
probably
wouldn't
be
able
to
make
it
I
do
see
a
couple
other
people
from
risk,
though
I
wasn't
sure.
If
you
wanted
to
say
anything,
no
pressure,
If,
not.
A
Cool
well
I'll
relay
I,
guess
some
of
the
kind
of
went
pretty
much
said
they
said,
like
you
know,
largely
this
in
terms
of
what
could
be
considered.
Real-Worn
Aztec
deals
aren't
necessarily
their
preview.
However,
there
is
like
custigious
to
consider
and-
and
it
definitely
plays
in
Department
models.
A
Take
us
next
slide,
David.
Those
were
all
my
volunteers.
I
asked
all
demanded
actors
like
hey
as
a
core
unit.
If
this
passes
like
what
will
you
guys
have
to
do,
I
will
give
one
more
shout
out
to
four
units.
If
there
is
anything
you
think
you'd
like
to
if
Smith
passes
and
use
this
opportunity
to
educate
the
community
on
on
kind
of
what
you
do
in
regards
to
governance
now
would
be
a
great
time
to
do
so.
A
A
G
A
A
We'll
try
not
to
talk
over
each
other,
it's
not
all
in
good
fit.
If
we
do
the
goals
here,
to
practice
improvisation,
collaboration
and
getting
to
have
a
little
fun
in
the
middle
of
it
all
cool
cool,
so
for
our
little
prompt,
we're
gonna
go
with
something,
perhaps
Optical
and
say:
I
am
going
to
Colombia.
So
our
starting
point
for
this
little
improv
is
I'm
going
to
Colombia
and
I'm,
going
to
call
on
zala
to
be
my
second
and
give
an
example
on
how
we
can
build
on
that.
D
G
A
Right
on
Atlanta,
we
don't
need
to
get
to
Too
Much
crazier
than
that,
but
I
appreciate
the
so
many
voices
and
taking
a
little
break
from
our
playing
call
to
activate
and
energize
a
little
bit.
If
you'll
take
us
to
the
next
slide,
David
I'm,
hoping
we
can
kind
of
carry
that
energy
through
to
a
bit
of
a
experiment.
A
In
terms
of
talking
about
these
governance
proposals,
a
little
more
in
depth,
basically
kind
of
want
to
imply
a
light,
Roberts
rule
supporter
to
this
call
and
start
a
speaking
list
for
discussing
map
81
and
and
related
custody
agreements.
Too
right,
there's
been
my
number
ones
on
the
Forum.
If
your
point
kind
of
ties
into
that
I,
do
you
think
that's
appropriate
to
bring
up
as
well
all
right?
So
what
we're
going
to
do?
A
I'm
going
to
be
building
a
speaker's
list
and
turning
on
a
timer
here,
hopefully
it
will
work
with
the
app
I
I
added
a
little
earlier
and
anytime
I
call
on
someone.
You're
gonna
have
two
minutes
to
to
make
your
point
basically
arguing
asking
questions
bringing
up
whether
you
support
this
meant
or
I
think
we
should
oppose
it.
We'll
kind
of
respect
the
two
minutes
there
make
sure
everyone
can
get
their
full
thought
out.
A
You
don't
have
to
use
the
full
time
if
you
don't
like
to
kind
of
the
only
thing
I
ask
is,
if
you
want
to
come
back
for
for
seconds
on
the
speaker
list,
please
do
so,
but
before
the
third
time,
let's
make
sure
everyone
has
had
a
chance
to
go
and
yeah
we're
going
to
try
the
structure
to
get
a
little
deeper
into
the
parts
like
it's
obviously
nice.
If
we
can
go
Point
Counterpoint,
but
since
we
have
a
speaker's
list,
that
won't
always
be
the
case.
A
If
we
have
too
many
pro
people
in
a
row,
I'll
call
out
looking
for
a
con,
but
other
than
that.
I
would
just
love
to
hear
a
lot
of
people
in
particularly
delegates
and
voters.
Thoughts
on
this,
so
practically
how
this
is
going
to
have
to
happen
is
I'll
open
up
the
speakers
list.
The
easiest
way
to
get
on
it
would
be
utilizing
that
raised
hand
function.
We
talked
about
earlier.
You
can
also
just
drop
your
name
in
the
chat.
A
A
A
All
right,
I
had
to
scroll
quite
a
bit,
but
I
did
find
it
paper
asked
to
kind
of
earlier
when
we
were
first
getting
into
this.
If
there
was
any
technical
dark
magic
that
we
could
use
to
get
around
the
custody
downside,
so
you
might
be
aware
that,
in
order
for
the
coinbase
rewards
to
function,
we
do
have
to
physically
send
the
usdc
over.
A
E
I
mean
Peyton
the
the
most
obvious
answer
for
this
one
I,
don't
know
if
I'm,
following
your
format,
so
shut
me
down.
If
I'm,
if
I'm,
not
yeah
I
mean
the
the
most
obvious
one
that
I
can
refer
to
and
if,
if
paper
you're
refer,
if
you're
looking
for
something
else,
is
the
again
exploring
the
trustless
option
that
a
lot
that
allows
coinbase
to
custody
a
smart
contract
that
has
some
special
functions
in
it.
E
That
allows
us
to
claw
back
if
we
need
to
so,
and
so
we've
been
working
with
coinbase
and
continue
to
do
so
to
figure
out.
If
that's
a,
if
that
solution
is
a
real
solution
before
we
say
yeah,
let's,
this
is
a
real
solution
and
then
therefore
we're
recommending
this
is
the
primary
option
for
us
and
and
again
that
way,
we're
hoping
that
that
could
eliminate
or
reduce
significantly
some
of
the
custody
risks
that
the
community
has
identified.
E
E
A
D
D
Have
like
for
me,
the
the
smart
contract
solution
seems
amazing,
but
then,
like
thinking
about
it
zooming
out
like
from
from
their
perspective,
they
obviously
would
have
some
things
to
say
about
the
nature.
If
it's
not
a
contract
like
what
can
be
in
there,
how
it
can
look,
how
it
can't
look
what's
allowed,
was
not
allowed.
They
want
their
six
minute.
G
D
On
that
then
they're
just
gonna
start
it
like
that's
what
I
do
I'd
say:
yeah
cool,
maybe
you
deposit
now
and
we'll
work
on
that
or
it's
taking
forever.
You
know
I
I
just
started
so
I'm
not
like
I,
like
the
solution.
I
think
it's
amazing
I
think
in
practice.
When
you
look
at
Congress
perspective,
they
have
no
reason
to
rush
that
and
that
might
actually
take
longer
than
we
have
guaranteed
on
that.
A
I
Sure
yeah
I've
spoken
with
coinbase
from
the
you
know,
gecko.
They
know
they
were
interested
in
a
permissionless
and
automated
solution
and
they're
willing
to
help
us
make
that
a
reality.
The
the
challenge
for
that
is
going
to
be
I,
think
more
on
the
non-technical
side.
To
be
honest,
where
the
Dow
needs
to
decide
what
level
of
liquidity
it
wants
on
on
chain
right
and
then
based
on
that
threshold,
that'll
kind
of
dictate
how
funds
are
moved,
how
many?
I
How
much
funds
are
moved
back
and
forth
between
coinbase
and
the
Dow,
so
yeah,
and
then,
of
course,
there's
all
the
technical
work
and
audits
are
gonna
have
to
go
along
with
it.
So
I
think
we're
at
a
point
where
it
makes
more
sense
to
start
off
manually
so
get
you
know
cash
in
the
door
and
transition
to
that
solution.
Once
once,
what's
possible
foreign.
A
F
G
F
F
The
question
of
do
we
have
any
concerns
from
a
Governor's
perspective.
Yes,
we
do
and
we
still
have
concerns
about
the
withdrawal
of
the
funds
specifically
in
in
the
time
frame
that
could
be
achieved
in
following
make
as
usual
governance
processes,
and
you
know,
certainly
would
it
be,
it
would
all
depend
on
the
arranger.
F
F
Does
it
need
to
be,
you
know,
can
we
can
we
insert
a
set
of
predefined
criteria
for
the
arranger
so
that
they
don't
need
to
wait
for
governance
to
act?
So
if
the
usdc
balance
drops
by
XML
withdraw
the
funds,
you
know
these
kind
of
things
that
we
could
think
about
so
yeah.
There
are
still
some
concerns
from
the
governor's
perspective,
but
from
a
point
of
view
is,
is
it
a
legitimate
MIP?
Can
it
go
on
chain?
A
L
L
All
that
good
stuff
strategic
risk-
and
you
know
earlier
on
I
know
that
you
were
asking
risk
to
comment
on
on
MIP
81
and
fortunately
they're
not
here,
but
we
just
had
a
delegate
office
hours
about
about
half
an
hour
ago,
and
that
was
one
of
the
things
that
we
were
discussing
is
like.
Where
are
the
parameters
that
the
risk
team,
the
risk
core
unit
is,
is
providing
to
the
community?
So
we
would
like
to
see
that.
However,
you
know,
as
I
stated
earlier
and
I
know,
I
got
45
seconds.
L
We
are
proponents
of
nip
81.
However,
you
know
we
signed
up
to
be
in
automated
environment
and
so
far
I
feel
like,
and
you
might
have
seen
me
complain
on
Discord
that
you
know
we're
still,
not
even
in
a
decentralized
forum,
we're
not
in
a
decentralized
Discord
right.
So
and
then
you
know
I'm,
just
an
individual
who's,
complaining
and
I
hate
to
complain
because
I
know
the
devs
are
hard
at
work.
L
A
A
A
A
I'm
sure
they'd
be
willing
to
try
to
figure
one
out,
there's
been
kind
of
the
meme
of
the
PSM
Wars
of
rather
enjoyed
floating
around
on
the
Twitter
sphere,
and
it
seems
kind
of
clear
that
if
maker
is
going
to
consider
these,
you
know
there's
a
lot
of
people
who
are
willing
to
turn
on
some
incentives.
For
for
us,
as
a
protocol.
A
All
right
might
take
away
the
Restriction
of
the
timer
and
the
speakers
list
here.
David.
If
you
I
know
you
have
some
good
notes
there.
So
I
don't
want
to
lose
this,
but
if
you'd
be
able
to
take
us
to
the
next
screen,
I've
got
some
like
General
stakeholder
questions,
so
we
tried
to
think
of
a
few
different
stakeholders
that
might
be
on
this
call
and
yeah.
Maybe
these
apply
to
you,
maybe
these
for
your
your
line
of
hot
yeah,
we'll
just
pop
some
open
discussion.
I
know.
K
Answer
the
middle
question
for
the
delegate,
stakeholders
and
then
that's
do
I
see
a
situation
where
they
make.
It
now
ends
agreement
in
the
future
and
I
absolutely
do
this
proposal
asks
for
terrible,
big
portion
of
of
the
PSM
and
the
payoffs
in
in
a
percentage.
Isn't
all
that
great?
So
we
have
several
things
that
would
like
to
utilize
the
usse.
We
have
a
new
PSM.
K
We
might
go
into
a
future
where
we
don't
really
have
that
much
usdc
in
the
PSM
or
even
have
a
PSM
in
either
of
those
cases.
I
think
it's
prudent
for
us
to
end
this
agreement.
If
it
comes
with
information,
I
think
it
it
could
be
a
nice
Baseline
if
we
can
actually
manage
the
risks,
but
obviously,
with
such
such
a
huge
portion
of
the
usdc
we
we
can't
really
accept
barely
any
risk
at
all
in
this
going
forward.
G
A
M
M
It
could
be
just
as
much
as
taking
our
mid-21
output
can't
do
it
as
that
smart
contract,
and
that
would
be
a
smart
contract
where
the
the
only
way
the
usdc
can
get
out
of
that
smart
contract
is
by
return
to
the
PSA
and
and
then
further
automation
could
be
done
down
the
road.
So
I
I
just
like
to
point
that
out.
A
Stephen
Dozer
really
helpful
to
hear
so
noting
a
question
from
paper
here
before
I
move
on
to
the
hands
asking
so
voting
on
this.
Does
it
lock
us
into
schedule
or
implementation?
It's
just
conceptual
right,
I
might
say
like
a
level
up
from
conceptual,
basically
because
it
is
kind
of
demanding.
Okay.
If
this
is
passed
like
here's
what's
going
to
happen,
it
asks
for
one
of
the
core
units
mentioned
to
put
forward
a
signal
picking
on
intensity,
to
push
the
sword.
A
But,
of
course
that
does
give
the
chance
for
the
entity
to
be
rejected.
We
could
be
an
entity
that
they
aren't
able
to
do
business
with
as
well,
but
there's
kind
of
several
I
guess
roadblocks.
We'd
have
to
get
past.
I
think
this
is
voted
in
by
maker
holders.
However,
the
intent
is
quite
clear
that
if
this
is
passed,
different
core
units
we'll
be
we'll
be
doing
things
to
to
bring
bring
to
fruition.
G
D
A
And
quite
from
David
and
the
chat
that
part
of
the
implementation
does
require
some
sign
ups
from
from
Cory.
Yet
so
that's
the
potential
another
blocking
point
paper
kind
of
pointing
out
to
some
previous
things
that
have
been
asked
about
implemented
and
I.
Think
that
kind
of
ties
into
what
Robert
was
saying
earlier
right.
You
know,
if
you
don't
talk
to
to
a
CU
and
kind
of
expect
it
to
happen.
Well,
then,
that
kind
of
puts
it
on
your
shoulders
to
push
forward.
A
L
So
I
like
to
take
that
Community
question:
how
do
you
view
this
opportunity
for
Baker
doubt
if
another
project
like
Avi
was
doing
the
same
thing?
It's
funny,
because
you
know
I
see
a
lot
of
the
chatter
and
different
telegram
groups
and
a
lot
of
folks
don't
think
that
maker,
thou
and
die
is
cool
anymore.
Right,
like
the
slogan
make
die.
Cool
again
is
actually
a
thing
in
my
opinion
right,
but
I
feel
like
if
Bobby
was
doing
this
you,
perhaps
you
wouldn't
hear
this.
L
The
chatter
on
telegram
groups,
not
that
they
matter,
but
you
know
I
I,
do
value
some
of
these
folks
who
are
in
it
day
in
and
day
out
right
whether
they're
traders
anons
that
are
degenerate
or
whatever
you
want
to
call
them.
But
I
think
that
you
know
regardless
what
folks
are
going
to
think
where,
where
their
die
is
cool
or
is
no
longer
cool,
this
is
a
huge
opportunity
for
makers.
L
Now,
I
think
it's
going
to
develop
a
lot
of
the
what's
the
word
for
real
a
lot
of
the
Kim
Kardashian.
The
fact
that
she
has,
when
ever
any
kind
of
news
is
put
out
there
right
like
a
positive,
I
kind
of
spin
to
it.
So
you
know
shout
out
to
my
anons
out
there.
My
djans,
who,
who
think
die,
is
not
cool
anymore,
but
I
actually
think
that,
regardless
of
what
the
small
ecosystem
thinks
of
die
today,
I
think
is
going
to
be
it's
going
to
be
huge.
L
I
You
know
the
opportunity
that
comes
with
working
maker
and
the
positive
attention
it's
been
like
given
to
maker
like
through
this
MIP
proposal
is
actually
incredibly
huge,
so
I
suspect
that
there
will
be
a
lot
of
other
proposals
that
come
and
find
their
way
to
the
forums
from
other.
You
know
significantly
prominent
counterparties,
but
yeah
I.
Think
it's
a
it's
a
you
know,
obviously
we're
in
a
bear.
Market
things
are
dark,
but
I
think
the
future
is
still
bright
for
for
maker
and
the
Dow.
I
L
Yeah
I
agree
with
that.
Actually
Tim,
black
and
I
had
a
conversation
yesterday
about
we're,
going
to
see
a
plethora
of
different
organizations,
kind
of
putting
up
these
proposals
to
the
community,
and-
and
you
know-
but
there
is
a
moment
there,
when
you
kind
of
gotta.
Let
these
folks
know
that
come
on
like
stop
with
the
500
million.
That's
selling
debt
ceiling
requests
right
like
can
we
crawl
before
we
walk
so
while
I
welcome
more
of
the
origin,
US
dollar,
you
know
and
by
the
way
I
totally
have
forgotten
about
them.
I
Well,
I
mean
to
be
clear:
you
know
finance
and
growth,
any
other
Korea.
None
of
us
are
suggesting
how
much
you
know
these
counterparts
should
request
they're
all
looking
at
you
know
the
PSM
and
they
all
you
know
naturally
are
going
to
be
selfish
and
then
they're
acting
with
their
own
self-interest
right.
I
I
L
I
L
No
any
particular
centralized
stable
coin.
It
just
doesn't
take
away,
and
this
is
why
you
know
I'm
a
proponent
of
the
end
game
and
when
I
say
I
am
e3f
delegate
it's
a
proponent
of
the
end
game
because
it
does
allow
the
opportunity
to
hopefully-
and
we
talked
about
this
earlier
in
the
delegate
office
hours
about
swinging,
the
pendulum
away
from
the
the
Reliance
of
centralized,
stable
coins
and
kind
of
get
into
decentralized
assets
like
ethereum
or
sticky,
which
I
look
forward
to
personally.
L
A
A
I
want
to
give
a
very
like
heartfelt
thanks
for
for
trying
a
slightly
new
format,
we'll
get
better
presenting
it
and
getting
new
questions
and
ideas
to
talk
about
in
advance,
but
it
was
really
great
to
see
so
much
engagement
on
the
call
today,
as
we
talked
about
at
the
start,
there's
a
lot
of
stuff
coming
up
for
vote
on
Monday.
So
let's
kind
of
keep
this
energy
up,
keep
the
discussion
going
in
the
forums
and
do
keep
an
eye
out
for
this
ratification
cycle.
A
Coinbase
will
be
one
of
the
maps,
we'll
have
maybe
two
the
Allen
with
with
Appalachian
and
the
coinbase
a
different
type
of
Lending,
and
then,
of
course,
the
engagements
are
are
big
there
as
well,
so
I
want
to
say
big
thanks
for
everyone
coming
out.
Please
do
check
out
the
Forum
and
yeah
we'll
see
ya.
I!
Guess
one
programming
note
to
be
aware
of
there's
an
own
form
of
Bowl
going
on
right
now
on
the
maker
Forum
about
whether
we
should
have
a
call
next
week
or
not.
A
We
noticed
a
slightly
smaller
attendance
this
week.
I
suspect
it'll
be
even
worse.
Next
week
with
the
conference,
if
people
still
want
to
have
a
call
well
we're
happy
to
host
one,
but
if
we
want
to
take
a
week
off
as
well,
we
can
so
do
check
to
make
reforms
for
that
scheduling
and
we'll
talk
to
you
soon
either
way
thanks,
everybody.