►
From YouTube: Governance and Risk Call #224 - February 2, 2023
Description
Weekly community call for MakerDAO! The agenda and discussion links for this recording can be found here:
https://forum.makerdao.com/t/governance-and-risk-call-224-thursday-february-2-2023-17-00-utc/19613
A
All
right,
hello,
everyone
and
welcome
this
is
going
to
be
the
224th
governance
and
rest
meeting
here
at
makerdau.
My
name
is
Peyton
I
go
by
Pros
11
online
and
I
am
one
of
the
governance.
Facilitators
really
happy
to
be
hosting
a
wonderful
call.
We've
got
regular
contributors
to
maker
people
who
are
interested
in
the
protocol.
People
who
are
proposing
themselves
to
become
more
involved
with
the
protocol
joining
us
live
here
today,
all
walks
of
life
all
levels
of
interest
in
maker,
so
a
huge
shout
out
to
everyone.
A
Who's
here
with
us
live
and
to
those
of
you
catching
this
up
later
on.
The
recording
before
we
get
into
things
did
just
want
to
go
over
a
few
rules.
That'll
make
today's
experience
much
better
for
all
of
us
here
and,
and
those
of
you
that
are
not
here
with
us
as
well.
A
Let's
try
to
not
talk
over
one
another
I
know
that
can
be
hard
on
Zoom,
but
I'm
more
than
happy
to
call
people
out
put
people
on
the
speakers
list
do
whatever
we
can
to
keep
everything
happening,
orderly.
A
One
thing
that
does
help
with
that
is,
if
you
can
turn
your
cameras
on,
it's
always
nice
to
see
who's
talking
and
where
you're
coming
from.
We
also
have
some
helpful
tools
given
us
by
the
zoom
developers
thanks
Zoom,
including
chat
and
reactions.
The
ray
San
reaction
in
particular
is
a
super
useful
one.
A
If
you
see
that
under
reactions,
that's
a
way
to
just
let
me
know
you
have
something
out
of
the
conversation
and
you
would
love
the
mic
when,
when
it's
conversationally
appropriate
but
no
worries,
if
you
can't
join
us
on
the
mic,
feel
free
to
drop
questions
and
comments
in
the
chat.
This
is
an
open
call.
We
really
encourage
participation
from
everyone
who's
joining
us
here
today.
So
yeah
don't
be
shy,
use
the
chat.
A
If
you
need
to
and
more
than
happy
to
have
you
come
on
the
mic
and
join
us
with
that
said,
we
do
have
a
bit
of
an
agenda
to
get
through,
so
I'll
be
trying
to
keep
us
on
track,
we'll
start
as
usual,
with
a
governance
Roundup
talking
about
what's
going
on
for
the
official
maker
votes,
as
well
as
the
maker
Improvement
proposals.
A
Today
we
have
a
pretty
exciting
initiative,
update
we
have
the
authors
and
and
some
of
the
team
behind
mip95
here
with
us
today,
so
they're,
going
to
give
you
a
brief
background
on
what
they're
proposing
why
they're
here
at
maker
and
give
us
a
chance
to
ask
a
few
questions
before
we
move
into
our
big
discussion
topic
today,
which
no
surprise
if
you've
been
lurking
on
the
forums
is
going
to
be
the
in-game
Constitution
cool,
so
without
further
Ado
I'll
hop
us
straight
into
the
vote
side.
A
Here
was
a
pretty
quiet
week
on
polls.
We
only
had
the
one
poll
concluding
and
that
was
that
request
for
in-game
information
portal
that
did
ultimately
get
rejected,
so
nothing
further
will
be
happening
there.
At
the
moment.
On
the
executive
front,
a
lot
of
things
to
update
you
on,
you
might
have
noticed.
Last
week's
executive
was
passed
and
executed
so
happy
to
see
that
there
you
can
read
about
some
of
the
changes
in
more
detail
on
the
voting
portal.
This
week
we
are
still
expecting
a
Friday
executive.
A
We'll
keep
you
posted.
If,
if
that
changes,
this
has
a
whole
bunch
of
stuff
in
it,
including
a
Teleport
fix
a
tech
Ops
die
transfer,
we've
got
some
off-boarding
payments
for
the
governance
communication
score
unit,
some
special
purpose
funding
and
he
start
net
upgrades.
A
So
another
pretty
full
spell
to
be
looking
for
this
week
also
has
just
a
Content
note:
we
we
will
be
planning
having
back-to-back
spells,
so
we
will
have
another
one
next
week
and
then
hopefully
we'll
be
able
to
work
in
a
little
bit
of
a
break
for
our
protocol
engineering
team.
A
So
that's
probably
more
than
you
wanted
to
know
about
the
votes
process
here
maker
I'm,
going
to
pass
over
the
mic
to
our
MIP
editors.
To
give
you
an
update
on
what's
happening
in
in
the
land
of
maps,
is
it
Pablo
who's
talking
today,
yep.
A
B
Okay
cool,
so,
yes
just
mentioned,
we
had
our
short
verification
Poll
for
proposal
that
entered
the
weekly
cycle.
It
was
a
request
for
funds
to
depend
on
the
game
informational
portal,
which
was
ultimately
rejected.
B
B
Let's
take
a
look,
so
we
have
proposals
to
onboard
real
world
as
it
falls
to
introduce
a
dependent
contract
against
governance,
attacks
to
start
utilizing
the
hats
protocol,
which
will
enter
the
motorcycle
at
the
earliest
as
Spirits
author
to
introduce
a
new
framework
to
broadcast
and
manage
requests
for
projects
and
Associated
funding
and
namely
97
mid
97,
6,
7
and
98..
This
will
be
delayed
until
marchitude,
also
to
introduce
a
framework
to
guide
allocations.
B
And
finally,
we
have
proposed
us
to
restart
the
mkr
burning,
a
proposal
to
amend
the
fault
settings
for
the
Recently
approved
Meep
92
that
Awards
PSN
usdc
to
journal
this
one
will
be
eligible
to
enter
the
weekly
cycle
on
Monday
13th,
a
declaration
of
intent
to
implement
a
feature
to
refund
people
who
lost
die
by
sending
it
to
the
direct
contract.
This
was
previously
known
as
medium
94,
but
it's
been
decided.
B
It's
a
better
fit
for
the
duration
of
intent
than
a
self-standing
map,
since
content
hasn't
changed,
the
Declaration
of
intent,
intent,
sorry
inherits
the
accumulated
feedback
period
from
music
94
and
is
therefore
eligible
to
enter
the
February
Covenant
cycle,
and
we
also
have
two
fund
requests
for
this
target
coordinate
and
the
devops
coordinates.
B
And
finally,
this
time
Fortune
important
dates.
The
proposal
is
eligible
to
enter
the
primary
governance
cycle
is
starting
next
Monday
have
entered
their
Frozen
period
and
can
no
longer
be
modified.
The
monthly
cycle
proposals
to
enter
the
market
governance
cycle
must
be
posted
by
Monday,
the
6th
or
at
the
latest,
and
the
February
informal
submission
window
opens
on
Monday
the
6th.
A
Awesome
I
appreciate
the
update
there
Pablo,
as
always
a
ton
of
stuff
going
on
in
ipsland,
so
do
check
out
the
Forum.
Please
leave
comments
on
stuff
and
the
request
for
comments
proposal
and
keep
an
eye
out
for
those
submissions
cool.
So
that
will
take
us
to
our
initiative.
A
Update
for
today,
like
I,
said
I'm
really
happy
to
be
joined
by
some
of
the
folks
from
The
mip95,
Proposal
I,
don't
know
if
you
have
slides
or
anything
I
can
hand
over
screen
sharing,
but
yeah
I
don't
know
who
who
wants
to
start
with
the
mic.
C
We
don't
have
slides
I
found
them
from
distracting
and
I.
Think
I
can
just
talk
for
about
two
and
a
half
minutes
and
then
I'll
hand
it
over
to
the
leadership
at
cogent
and
then
we'd
love
to
answer
any
questions
all
right.
So
thanks
Peyton
and
Pablo
and
hi
everybody.
My
name
is
Max
glass
I'm.
Here
with
the
president
of
cogent
bank
and
cogent's
chief
credit
officer,
cogent
bank
has
proposed
MIP
95,
which
seeks
to
replicate
makers
deal
with
Huntington
Valley
Bank
in
every
respect,
including
that
we
will
pay
makers,
transaction
legal
expense.
C
That
money
has
been
invested
in
a
money
market
fund
where
it
is
generating
interest
until
Huntington
Valley
Bank
presents
a
loan
for
participation
according
to
the
participation
agreement.
Each
loan
offered
for
participation
must
be
originated
by
the
bank
at
an
interest
rate
of
at
least
75
basis
points
over
the
30
days.
C
So,
for
if
floating
rates,
or
at
least
30
basis
points
over
the
like
term
treasury,
if
fixed
rate,
it
must
have
a
risk
rating
of
past
category,
then
the
bank
participates
50
percent
of
each
loan
to
the
trust,
retaining
ownership
of
the
other
50
percent
and
the
bank
services
that
loan
for
the
trust.
In
this
way
makers,
trust
owns
a
portfolio
of
Bank
originated
loans
that
mirror
the
bank's
balance
sheet.
D
Thank
you
Max.
Can
everybody
hear
me?
Thank
you
Peyton.
My
name
is
chirag
balsar
I
am
the
President
of
cogent
bank
I
I
just
wanted
to
take
a
couple
of
minutes
to
highlight
who
we
are
and
what
differentiates
us
from
other
other
Banks.
D
You
know
I'm,
not
I'm,
not
a
big
Wall,
Street
financier
or
anything
I'm.
An
accountant
by
trade
I've
been
fortunate
enough
to
have
worked
in
the
banking
system
now
for
well
over
30
years.
D
You
know
we
we
set
off
four
and
a
half
years
ago
to
create
a
bank
that
was
different
different
in
in
what
it
provided
different
in
in
the
access
that
it
would
provide
to
people.
Not
you
know,
most
commercial
banks
are,
you
know
they
take
in
deposits
and
make
loans
and,
frankly,
a
lot
of
banks,
especially
Community
Banks,
are
started
for
the
sole
purpose
of
just
selling
them.
D
You
know
we
set
out
to
to
create
a
bank
that
could
last
a
long
long
time
and
and
in
order
to
do
that,
we
have
to
create
a
bank
that
can
withstand
the
the
volatility
that
exists
in
the
economic
turbulences
that
take
place
over
a
longer
Horizon.
So
we've
created
a
bank
with
a
number
of
different
vehicles
on
how
we're
able
to
originate
assets.
You
won't
find
very
many
banks,
our
size,
we're
a
bank.
We
were.
We
started
the
bank
about
four
and
a
half
years
ago,
a
70
million
dollar
Bank.
D
We
sit
here
today
at
one
and
a
half
billion
dollars,
we're
very
blessed
to
have
a
lot
of
wonderful
people
within
the
organization,
all
our
all
Bank
financials.
Just
so
everybody
on
this
call
knows
they're
all
public
right.
You
can.
You
can
go
on
to
the
FDIC
website
and
you
can
see
our
balance
sheet
income
statements,
details
of
our
loans
and
so
on
and
so
forth.
So
you
know
what
makes
us
unique
is
for
our
size.
D
D
A
Awesome
well,
let's
pause
there
then,
for
your
questions,
see
feel
free
to
raise
your
hand
or
drop
something
in
chat.
I
know
we
will
be
having
like
a
a
more
full
call
about
the
Smith
in
particular.
With
that
said,
I
would
love
to
answer
a
couple
brief
questions
in
this
call.
If
there
are
any.
A
Yeah
seen
one
from
a
hand
from
flip
flop,
flap
delegate,
one
of
our
recognized
delegates,
Take
it
Away
Frank.
E
Hey
guys
Frank
here,
flip
flop,
flap
delegate,
thanks
for
coming
on
the
general
maker
down
Community,
one
of
the
things
that
we
are
proponents.
E
Our
delegate
platform
flip
flop
flop
is
for
open
banking,
that
horizontal
architecture,
where
you're
providing
open
banking
for
apis
for
third
parties-
and
you
know
this
is
a
this-
might
be
a
little
bit
on
the
topic.
But
is
there
any
any
Innovation
there
when
it
comes
to
cogent?
As
far
as
horizontal
architecture
and
the
possibility
of
one
day,
taking
a
stable
coin
like
die,
which
is
very
valuable
to
the
maker
dial
community
and
using
that
as
an
architecture
that
can
be
used
for
coaching,
a
clientele.
D
No
I'll
take
that
that
is.
That
is
a
really
good
question.
So
you
know,
I
can
tell
you
that
we're
one
of
the
few
banks
in
the
country
that
that
Embraces
technology
Embraces
blockchain,
where
regulatory
appropriate
we
will
embrace
you,
know
crypto.
Obviously
you
know
in
today's
regulatory
environment.
You
know
The
Regulators,
don't
look
kindly
upon
that.
D
We
have
been
even
before
any
of
the
stuff
that
took
place
over
the
last
few
months,
we've
been
working
very
diligently
with
with
regulatory
constituents
to
allow
us
to
do
some
of
the
things
you're
talking
about
right.
So
one
of
the
things
I'll
mention
is
we're
one
of
the
few
banks
on
a
system
called
tacit
which
is
which
is
a
closed
loop
blockchain,
four
Banks
and
I
mean
I
I
think
we're
one
of
maybe
five.
We
were,
we
actually
participate
in
their
press
releases
out
there.
D
You
know
do
I,
believe
we'll
get
there
one
day
exactly
what
you're
talking
about
I
do
I
do
believe
we'll
get
there,
but
to
your
point,
the
way
to
do
it
is
is
frankly
to
embrace
The
Regulators,
because
they're
going
to
be
key
into
allowing
us
to
do
that
together
and
and
the
way
I
see
this
process
is
initially.
We
have
to
begin
this
in
closed
loop
systems
and
then
eventually,
as
people
get
more
comfortable,
it's
no
different
than
moving
moving
things
around
like
they,
like.
You
know
today.
Think
about
this
way.
D
You
know:
payments
are
essentially
moved
around
today
in
three
forms
in
the
normal
Fiat
banking,
Channel,
checks,
ACH
and
wires.
Blockchain
represents
the
first
solution.
That,
frankly,
is,
is
truly
decentralized
and
not
centralized.
You
know
for
the
regulators
and
I'll
give
them
credit
where
credits
too,
you
know
they
didn't
tell
Banks.
You
couldn't
do
this,
so
you
know
so
we
have
regulatory
compliant
are
have
tacit
and
and
an
opportunity
where
we're
able
to
move
money
from
digital
wall
to
digital
while,
albeit
in
a
closed
loop
system,
but
the
Hope
right.
D
The
hope
is,
as
time
goes
by
and
as
Regulators
get
comfortable
and
as
more
people
use
it
The
Regulators
and
everybody
will
feel
more
comfortable
with
creating
a
system
that
allows
money
to
be
moved
on
a
blockchain.
When
you
have
that,
then,
to
your
point,
you
can
have
currencies
such
as
die
and
others
that
could
participate
in
that
process,
but
it
is
an
infrastructure.
That's
you
know
that
has
to
be
built
one
step
at
a
time,
and
we
are
one
of
the
few
institutions
that
want
to
participate
that
have
invested
dollars
and
resources.
D
I
can
tell
you,
you
know
we.
We
went
out
there
to
try
to
bank
this
ecosystem,
but
we
were
late
to
the
game.
Right.
Silvergate
and
signatures
of
the
world
have
95
plus
percent
clients
in
that
space
and
that's
okay.
You
know
we're
very
patient.
We'll
take
our
time
and
you
know
now
we
have
some
opportunities,
we're
talking
to
exchanges,
we're
talking
to
some
hedge
funds
in
the
space
and
the
hope
that
that
we
can.
D
E
Yeah
I
appreciate
those
thoughts
and
good
to
see
you
guys
participating
in
this
wonderful
Innovation.
Circling
back
real,
quick
because
I
don't
want
to
take
up
too
much
time
to
the
proposal
itself.
I
noticed
that
the
spending
limit
that
your
bank
is
currently
I'm
not
sure
if
it's
the
highest,
it's
ever
done
to
one
single
bar,
but
it
was
28
million
spending
limit.
So
would
you
happen
to
say
that
such
spending
limits
of
eight
digits
are
usually
for
commercial
loans?
D
So
I'll
I'll
start
with
yeah.
There
are
regulatory
limitation,
I.
Think
you
and
I
think
you
that
you
are
well
informed
that
limit
us
as
to
how
much
we
can
lend
to
any
one
party.
Now
with
that
being
said,
we
can
lead
loans
that
are
higher
than
that
and
we
can
can
participate
in
loans
that
are
higher
than
what
we
as
cogent
Bank
are
limited.
To
only
put
you
know,
roughly
28
million
dollars
on
our
balance
sheet.
D
You
know
the
kind
of
clients
that
that
would
fit
that
profile.
To
your
point,
you
know
most
of
those
are
going
to
be
real
estate,
backed
from
time
to
time
they
may
be
in.
You
know,
I
think
I'm,
going
to
keep
thinking
out
loud.
We've
done
some
larger
deals
to
funds
right.
That
may
raise
a
lot
of
equity
to
manage.
D
You
know
whether
it's
mortgage-backed
security
assets
and
we'll
give
them
a
little
bit
of
a
line
to
allow
them
to
leverage
their
Equity,
but
those
would
be
some
of
the
larger
positions
they're,
not
necessarily
all
construction.
There
may
be
some
construction,
but
you
know
if
you
go
backwards
to
you,
know
2007
and
eight,
and
what
happened
to
the
banking
environment
in
that
space.
There's
a
lot
of
concentration
in
construction
lending,
and
so
the
regular
Regulators
provide
some
guidance
and,
and
we
we
certainly
adhere
to
those
guidances.
A
Thanks
for
the
question
in
the
follow-up
there,
Frank
I
do
see
a
hand
from
another
another
one,
another
Supply.
If
you
want
to
take
it
away,
go
for
it.
F
Hey
y'all,
can
everyone
hear
me
all
right
perfectly.
A
F
Perfect
so
yeah
I
guess
from
from
what
I'm
hearing
kojin
has
grown
very
quickly
over
the
past
couple
years,
I
guess
first
off
I'd
say
congratulations,
but
the
question
is
that
I
have
is
like.
How
do
you
sort
of
think
about
managing
like
just
overall
Enterprise
risk
as
an
organization
that
is
scaling
up
so
quickly
and
like
what
are
I?
Don't
know
like
sort
of
unique
concerns
that
you
have
as
you,
you
grow
the
business.
D
Yeah
no
great
question
so
we
have
invested
in
in
Risk
Management
from
from
inception.
You
know
we're
one
of
the
few
Banks.
When
we
were.
You
know:
100
million
dollars.
We
have
a
cheap
risk,
an
experience,
cheap
risk
officer,
who's
been
in
that
capacity
in
a
multi
multi-million
Billion
Dollar
Bank.
So
you
know
our
board
takes
pride
in
in
creating
high-level
parameters
that
we,
as
a
management
team,
have
to
live
by.
D
So
even
with
that
growth,
if
you
as
you
can
see
you
know
a
lot
of
times,
a
lot
of
companies
can
grow,
but
they
don't.
They
can't
make
money
while
growing
and
we've
been
very,
very
careful
to
execute
a
strategy
that
not
only
allows
us
to
grow
but
to
allows
us
to
grow
profitably.
So
you
know,
obviously
you
know
I,
don't
know
what
I
don't
know
and
what
may
be
around
the
corner.
D
We
we
try
to
do
it
as
good
a
job
as
anybody
out
there
and
then
sort
of
creating
those
parameters
that
we
live
by
and
so
I
mean
you
know,
that's
what
I
can
tell
you
that
we
invest
in
risk
and
we'll
continue
to
invest
in
Risk.
D
Yes,
sir
and
I
do
see
some
questions
around
on
on
the
chat
around
secondaries.
You
know
we
don't
do
a
ton
of
secondaries.
The
perfect
example
that
I
can
provide
you
of
secondaries
is,
for
example,
we
were
in
the
SBA
business.
So
if
you
understand
how
the
SBA
business
works,
you
essentially
make
a
loan
to
a
small
business
if
it
meets
certain
criteria
and
it
underwrites,
then
we
just
like
in
this
example
that
we're
talking
about
in
this
partnership
with
maker.
D
Similarly,
you
can
think
about
coaching
participating
with
the
government
in
a
similar
Fashion
on
SBA
and
USDA
loans
right.
So
when
we
originate
those
loans,
the
SP
or
the
USDA
will
guarantee
a
certain
piece,
a
certain
percentage.
You
know
anywhere
from
70
to
80
in
some
cases
90.,
and
so
what
we
end
up
doing
just
like
this
is
we
will
originate
the
loan.
We
will
take
the
guaranteed
portion
and
go,
and
you
know,
sell
it
out
in
a
secondary
Market
and
we'll
continue
to
service
the
assets.
A
No
David
mentioned
you
might
be
in
the
gym,
but
I
certainly
found
it
helpful.
I'll,
give
it
a
second
for
any
last
minute
follow-ups
but
I
think
we've,
we've
done
a
really
good
job
of
kind
of
digging
into
what
this
proposal
is
about
and
and
why
you
guys
are
coming
to
maker.
A
So
really
quick
want
to
take
a
moment
to
highlight
next
Wednesday
we
are
going
to
be
having
a
more
in-depth
call.
Like
I
said
it's
going
to
be
entirely
focused
on
this
map,
so
we
can
ask
these
more
in-depth
questions
and
and
hear
a
little
bit
more
from
from
the
team.
So
keep
in
mind
again,
that's
going
to
be
next
Wednesday
we're
looking
at
1715
UTC.
D
A
Worries
we'll
get
it
confirmed
on
our
calendar
and
up
on
our
Forum
anyway.
So
look
for
posts
there
and
yeah.
Let's
keep
building
on
these
questions.
We
we
pulled
on
a
lot
of
good
threads.
If
you
think
of
more
questions
more
things,
you
want
to
ask
whether
or
not
you'll
be
able
to
make
it
to
know
your
session.
You
could
drop
those
questions
on
the
thread
and
we'll
work
it
in.
A
A
You
awesome
well,
we
really
appreciate
you
coming
on
and
thank
you
too
delegates
and
everyone
else.
Who's
asking
questions
and
chat
always
get
a
lot
more
out
from
our
guests
when,
when
we
know
what
you
guys
are
curious
about,
so
thank
you
that
will
take
us
into
our
discussion.
Segment.
Yeah
I
think
can.
A
See
you
guys
later
all
right,
bye-bye
bye
I
do
want
to
maybe
take
a
moment
just
to
call
it
and
and
do
like
a
30
second
stretch
break
yeah,
so
the
discussion
segment
is
going
to
be
a
lot
more
fun.
If
you
guys
aren't
willing
to
engage,
ask
questions
that
sort
of
thing.
A
Otherwise
it's
just
going
to
be
a
whole
bunch
of
me
talking
and
you
get
that
quite
frequently
here
at
maker,
so
yeah,
let's
take
30
seconds,
I'd
like
to
work
out
the
arms,
too
big,
inhale
and
then
exhale.
A
So
if
you're,
okay,
with
hearing
me,
breathe
into
the
mic,
I'll
guide
us
and
one
big
inhale
in
exhale
and
we'll
move
on
to
discussion
segment.
Okay,
let's
take
a
really
big
inhale,
so
usually
I
like
to
count
to
five
slowly.
So
one
two,
three
four
five
and
let's
give
a
long,
exhale
again
one
two
three
four
five.
A
Okay
got
at
least
a
couple
people
in
chat
that
don't
hate
the
group
breathing,
so
maybe
we'll
make
it
a
little
more
involved
next
time.
But
thanks
for
indulging
me
and
with
that
we'll
get
into
our
discussion
segment.
A
All
right,
so,
first
off
a
little
like
scheduling
callback
reminder,
we
still
do
have
Game
Theory
mechanics
to
get
to
Within
game.
We
haven't
forgotten
about
that.
That's
just
going
to
evolve
and
be
quite
quite
a
process
right
depending
on
on
on
some
of
the
decisions
within
the
Constitution.
A
So
we
do
plan
to
come
back
with
some
more
talks
about
how
Game
Theory
Works
within
the
plan,
but
given
that
roon
just
recently
dropped
the
pregame
Constitution
figured
it's
a
good
excuses,
any
to
dig
into
a
little
bit
of
what
Constitution
is
like
what
the
plan
is
for
maker
and
how
we
can
make
that
effective.
A
For
the
organizational
transition,
so
first
I
think,
like
context
is,
is
really
important.
Like
a
lot
when
we
talk
to
people
about
endgame
right,
oh
frequent
kind
of
feedback
is
people
don't
know
what
the
timeline
looks
like
and
I
think
that's
fair
right.
A
We're
we're
dealing
not
only
with
a
pretty
large
organizational
lift
right,
something
that
is
going
to
take
time
to
get
people
in
in
new
structures
and
and
what
have
you
but
we're
also
dealing
with
a
lot
of
smart
contract
developments
as
well,
and
software
is
kind
of
notoriously
hard
to
pin
down
on
on
due
dates
and
and
when
it's
ready
to
go
public.
A
However,
I
do
think
it's
helpful
to
start
thinking
and
and
more
phases
right
like
we
may
not
know
exactly
what
each
phase
is
going
to
begin
and
end
on
a
calendar
scale,
but
we
can
look
for
kind
of
mile
markers
and
and
things
that'll
help
us
deliate
that
just
in
a
more
social
scale.
So
obviously,
last
year
with
clean
money,
Sagittarius
engine,
all
that
sort
of
stuff,
Rune
really
started,
indicated
community
that
he
was.
A
He
was
designing
some
some
big
changes
for
maker
that
he
wanted
to
introduce
and
we
got
the
first
bit
of
those
with
the
pre-game
Constitution
mipset
that
passed
last
year,
so
I
think
that
was
kind
of
people's
first
introduction
to
like
the
legislation
of
of
endgame
and
what
it
might
look
like,
and
it's
defining
feature
of
being
very
long
and
cumbersome.
A
So
if
we
think
of
that,
as
kind
of
like
the
start
of
this
okay
well,
the
Dow
you
know
has
just
voted
on
on
moving
towards
this
in-game
plan,
all
right,
the
the
next
step
and
and
this
evolution
is
going
to
be
establishing
a
pregame
Constitution,
and
that
is
going
to
be
a
founding
document.
That's
designed
to
kind
of
take
us
up
until
the
end
game
Constitution,
so
just
wanted
to
kind
of
put
it
in
perspective.
A
Like
we've
been
hearing
a
lot
about
in
game,
we've
been
working
on
a
lot
on
in-game,
but
we're
not
super
far
down
the
timeline
here.
As
you
see
we're
still
just
getting
into
this
transitionary
phase
with
that
said,
the
Constitutions
really
actually
give
us
something
tangible
to
work
on
and
contribute
to
which
is
pretty
exciting
organizationally.
A
So,
even
if
timeline
wise
were
behind
I
think
we'll
start
to
see
Tempo
and
momentum
wise,
we'll
be
picking
up
here
quite
a
bit,
so
might
be
good
to
ask
ourselves
like
what
is
a
constitution
anyway
like,
and
why
do
we
have
two
of
them
right,
like
we're
planning,
essentially
two
large
documents
to
to
govern
maker
and
and
their
timeline
for
them
at
its
most
base
level
right,
the
Constitution
is
just
you're
you're,
defining
laws
we
often
use
the
mips
in
in
the
current
structure.
A
I
tend
to
compare
mips
to
bylaws
because
they
do
tend
to
be
very
granular
like
about
a
specific
instance.
They
they
set
up
procedures
that
sort
of
thing,
whereas
a
constitution
is
really
thought
of,
as
like
the
kind
of
top
level
for
or
governmental
design
right,
where
it's
not
necessarily
dealing
with
the
minutia.
A
But
it's
kind
of
setting
out
the
the
bodies
settle
deal
with
the
minutia
themselves,
got
a
question
you
asking
when
enumeration
of
rights,
which
is
a
really
awesome
question,
because
that's
one
of
the
peculiar
things
about
a
constitution
right,
particularly
because
of
the
like
Bill
of
Rights
I,
would
think
it's
a
big
contributing
factor,
but
we
we
tend
to
kind
of
assume
that
all
Constitutions
are
are
going
to
have
something
in
there
about
about
rights
about
you
know
what
what
areas
it
doesn't
tread
on
yeah,
but
technically
from
from
a
a
document.
A
Standpoint
right,
that's
that's
something
a
constitution
can
include
but
doesn't
absolutely
have
to.
However,
I
do
think.
We've
all
been
with
roon
enough
to
see
that,
like
this,
defining
of
like
what
is
and
isn't
allowed
is
going
to
be
leaned
into
quite
heavily.
A
It's
a
smart
contract
joke
there
Miguel
other
elements
we're
looking
at
like
it
needs
to
be
ratified
by
the
people
that
it's
meant
to
govern
right.
So
this
is
just
a
basic
idea
that,
like
okay,
we're
proposing
really
changing
the
the
rules
for
mkr
holders,
so
ultimately,
it's
going
to
be
mkr
holders
that
have
to
push
this
thing
through
roon
has
obviously
really
emphasized
the
resilient
design
element
of
endgame
Constitution,
but
that
is
just
a
general
element
of
constitutions
in
general.
A
Think
if
we're
reflecting
like
on
on
areas,
we
could
have
done
better
in
in
the
current
setup,
I
think
a
lot
about
of
our
MIP
structure
and
how
a
lot
of
times
we
were
designing
to
kind
of
enable
things
that
we
found
necessary
right
like
okay,
here's,
here's
an
issue,
here's
something
that
needs
to
get
done.
Let's
write
the
procedure
for
getting
it
done
and
as
a
result,
when
a
lot
of
the
mips
go
under
Crow
scrutiny,
we'll
find
like
direct
contradictions
right,
we'll
say
well
up
here.
A
It
says
you're
supposed
to
do
this,
but
down
here
it's
defined
as
this
and
I
think
that's
because
they
were
quite
explicitly
designed
to
Aid
the
organization
and
and
its
growth,
rather
than
to
be
scrutinized
that,
like
a
constitutional
level,
so
that's
something
that's
going
to
need
to
be
considered
and
reflected
on
when
we
make
the
language
changes
in
our
constitutional
drafts.
A
Okay,
so
a
lot
of
patent
talking,
but
hopefully
you've
got
a
vague
idea.
What
a
constitution
is
like,
where
we're
trying
to
plan
it
and
kind
of
some
important
elements
that
are
going
to
be
in
it.
A
The
Nets
kind
of
confusing
part
for
context
is
just
establishing
like
okay,
the
first
draft
or
the
first
version
we
have
to
work
with.
Is
this
pregame
Constitution,
which
is
a
constitution,
that's
being
designed
to
not
last
very
long
right
like
we
are
essentially
designing
something,
that's
meant
to
propel
the
organization
up
until
the
point
where
all
of
the
Constitutional
designs
of
in-game
are
are
ready
to
be
enforced
and
turned
on.
A
So
we
can
see
that
this
pre-game
Constitution,
though
it's
going
to
cover
largely
the
same
elements
of
the
in-game
Constitution,
is
going
to
have
a
a
pretty
different
aim.
Right,
like
its
goal
is,
is
temporary,
is
less
constitutional
in
a
certain
sense,
but
it
still
needs
to
kind
of
convey
the
same
confidence
and
consensus
behind
it,
so
that
we
know
that
mkr
holder
is
the
workforce.
A
Everyone
is
kind
of
agreeing
on
this
stuff
yeah,
so
we
have
come
out
in
the
comments
mentioning
the
Articles
of
Confederation,
which
is
a
potentially
a
fun
history.
Factoid
the
lists
are
familiar
with
with
the
US
right
is
that
the
U.S
Constitution
was
actually
take
two
for
for
several
years.
We
were
in
in
the
US
we're
governed
by
these
Articles
of
Confederation,
which
was
the
first
attempt
at
establishing
what
it
would
look
like
as
a
new
nation
and
and
arguably
failed
pretty
pretty
miserably.
A
They
made
a
lot
of
mistakes
that
led
to
the
creation
of
of
the
actual
Constitution
and
I.
Think
root
has
been
quite
clear
in
his
framing
that,
like
the
pre-game
Constitution
is
designed
to
be
to
be
kind
of
torn
apart
and
rebuilt,
because
we
we
are
going
to
make
mistakes.
We
are
going
to
have
to
try
to
implement
some
of
this
stuff
and
and
see
what's
actually
reachable
before
before
the
in-game
launch
so
yeah.
A
So
when
you
hear
Constitution,
first
kind
of
check
that
should
go
into
your
head
is:
are
we
talking
about
like
the
actual
ending
Constitution
or
the
pregame
Constitution,
because
we'll
have
different
names
and
and
and
basically
a
really
different
document,
depending
on
on
which
one
we
are
so
it
was
obviously
the
pregame
Constitution
that
was
just
dropped
and
Rune
has
mentioned
on
dvcs
that
he
is
hoping
to
submit
that
for
the
or
the
March
cycle,
which
would
mean
that
we
have
about
four
weeks
this
year
to
get
some
commentary
and
and
get
some
edits
in
place,
which
is
really
what
this
call
is
about,
just
to
kind
of
introduce
you
to
the
pregame
Constitution
to
say:
hey,
this
is
happening.
A
A
It
does
mention
the
values,
purpose
and
value
the
values,
vision
and
purpose
for
maker
Dow.
It
defines
some
important
products
in
particular.
The
easy
voting
front
end
is
is
really
detailed
in
rood's
version,
but
it
also
mentioned
say
a
lot
of
other
necessary
in-game
products
for
people
who
were
going
off
the
V3
version,
you'll
notice,
new
roles
like
constitutional
conservers
that
results
in
new
things
like
cbcs
and
constitutional
delegates.
A
We
also
have
some
new
entities
right.
We
have
professional
actors
and
we
have
sub-dial
communities
which
are
a
bit
different
than
the
clusters
and
ecosystem
actors
that
are
introduced
before
the
scope
framework
is
all
stuff
you
should
be
expecting
and
then
constitutional
boundaries
is
another
thing,
run
it
kind
of
Applied.
A
So
this
is
kind
of
the
the
basis
of
what
the
Constitution's
doing
at
the
moment
and
and
all
the
areas
that
it
covers,
and
it
is
quite
long
like
I,
think
I
clocked
it
at
like
7
000
words,
I.
Think
realistically,
like
we'll
be
editing
out
a
lot
of
the
motivation
stuff
right
like
when
you
think
of
a
constitution.
Long
for
wisdom
had
some
good
comments
on
there
about
them
being
more
rooted
in
in
design
rather
than
than
motivation.
A
So
that's
one
way
we
can
start
contributing
to
this,
but
really
kind
of
what
the
most
important
thing
is
is
going
to
be
is
like
how
is
the
Constitution
being
received
by
our
community?
Where
are
our
questions?
Where
are
weak
points,
and
what
are
some
potential
points
of
conflict
right
like
when
we
think
about
this?
From
from
a
governance
standpoint,
there's
gonna
potentially
be
some
things
we
disagree
about,
what
are
those
likely
to
be
and
and
how
can
we
start
finding
compromise
on
them?
A
Yeah
all
that
to
say
that's
a
bunch
of
talking
to,
hopefully
just
get
us
into
this
conversation
of.
How
are
we
feeling
about
the
the
pregame
Constitution?
Obviously,
the
room
is
going
to
have
different
levels
of
familiarity
with
it,
but
yeah
if
anyone
feels
comfortable
just
speaking
personally,
of
how
they're
feeling
right
now,
just
in
in
regards
to
the
Constitution
I,
think
that
would
be
a
great
way
to
kick
off.
Conversation
yeah
go
for
it
Raphael
from
one
of
our
recognized
delegates
from
flip
side.
H
Hi
yeah
crypto
here
so
I'm,
pretty
happy
that
the
constitution
dropped
because
I
think
it
gives
us
two
things
for
us:
the
ability
to
to
give
concrete
input,
which
I
think
is
super
super
good
in
written
forms
like
documented
and
then
there's
also
like
a
document
that
I
can
take
on
like
guide
my
own
thinking
about
Dance
games,
and
both
of
that
is
super.
H
Welcome,
because
we've
seen
the
end
game
go
through,
I,
think
three
major
iterations
and
then
a
couple
of
small
ones
and
I
think
we're
coming
to
the
point
now
where,
where
we
kind
of
where
the
rubber
is
actually
hitting
the
roads
and
I'm
really
released
about
that
in
some
way,
and
also
like
really
excited
to
get
going
in
that
process.
So
for
me
this
is
a
supernatural
positive.
A
I
know
that
was
some
feedback
I'd
been
hearing
as
well,
which
is
that
having
more
written
content
to
engage
with
is
is
really
helpful
for
the
community
because,
like
you
know,
a
live
calls
can
be
tough
to
schedule,
but
even
recording
it's
like
it's
really
hard
to
just
sit
there
listening
to
to
an
event
and
and
absorbing
the
information
for
people
right
like
a
lot
of
times,
it's
much
easier
when
they
have
reference
material,
they
can
go
back
and
and
just
search
for
the
answers
in
so
I
know.
A
One
big
thing:
I'm
excited
about
is
just
everything
being
a
lot
more
indexable
with
Within
game
and
we're
working
on
on
getting
some
more
documentation
and
all
that
other
stuff
up
there
too,
but
I
think
it
kind
of
starts
with
just
having
the
the
actual
design
ideas
down
on
paper.
So
people
can
can
check
to
see
if
their
understanding
is
is
somewhat
accurate
or
not.
A
Cool
so
I'm,
looking
at
the
chat
here
in
code,
9
I'm
gonna
read
your
coming
out,
which
is
the
first
question,
would
be
to
find
a
full
list
of
mips
and
overrides
or
obsoletes
and
I
I
do
think.
That's
a
good
point.
The
Constitution
itself
isn't
going
to
be
doing
that.
My
understanding
is
we're
in
plans
to
propose
a
separate
Amendment
to
to
address
that,
specifically.
A
A
But,
yes,
it
will
because,
because,
like
obviously
some
mips
and
in
the
transition
period
are
going
to
be
really
helpful,
particularly
mips,
related
to
like
funding
or
say,
like
reward
assets,
deals
right
that
are
still
in
the
works
like
it's
really
helpful
to
just
still
have
some
way
to
to
legislate
those.
A
But
my
understanding
is
the
intent
is
by
by
Constitution
launch.
Essentially,
all
the
the
the
mips
will
be
gone.
A
So
we
got
Miguel
asking
about
the
tribunals
and
councils
I,
don't
know
retro
or
Juan.
You
might
be
good
people
to
kind
of
illuminate
this
a
little
more,
but
it
seems
like
there's,
certainly
been
a
shift
for
how
these
function
from
V3
to
the
pregame
Constitution.
A
Well,
like
I
guess
the
most
technical
answer
Miguel
would
be
that,
like
the
sub-dials,
don't
exist
until
the
actual
in-game
Constitution.
So
even
if
we
are
talking
about
them
in
the
pregame
Constitution
right,
it's
more
of
a
design
way.
I
Yeah
not
not
to
leave.
You
hang
in
there
Peyton,
but
the
the
the
concept
definitely
Still,
Remains
I
I.
Think
what
we're
so
fleshing
out
right
now
is
the
the
interim
period,
like
you
were
talking
about
long
term.
That's
still
retained
within
that
facilitator.
Dow
function
to
facilitate
the
the
councils
and
tribunals,
but
I
yeah
I
would
focus
on
that
concept
of
managing
those
entities
and
like
enabling
those
entities
being
retained,
but
I
would
expect
that
terminology
to
potentially
continue
to
evolve.
I
Alongside
with
the
the
recent
evolutions
of
going
from
Governor
Dow
to
facilitator
doe
and
things
like
that,.
A
I
think
conceptually
too
right
like
it's
the
idea
that,
particularly
in
in
the
transition,
the
Scopes
are
the
main
thing
we're
working
on
right.
So
there
obviously
will
be
some
some
interaction
there,
but
until
it's
fully
flushed
out
it
might
be
a
little
hard
to
really
explain
how
how
the
councils
will
will
function.
A
All
right
so
I've
seen
another
question
from
one
of
our
recognized
delegates:
skianga
who's
asking
when
will
Scopes
be
published
and
open
for
comment?
Has
someone
been
working
on
all
12
and
then
kind
of
noting
that
the
they
seem
to
have
evolved
a
bit
since
the
last
draft?
Some
of
these
I
can
answer.
When
will
they
be
fully
published?
A
So
I
think
that
one's
hard
to
say
the
pregame
Constitution
wants
to
establish
these
mips,
but
it's
basically
or
establish
these
Scopes
sorry,
but
more
to
lay
the
the
groundwork
for
the
Frameworks
being
developed.
Obviously
we
have
some
Frameworks
available
and
then
others
in
the
Constitution
draft
are
just
bullet
points,
so
I
think
like.
Ideally,
they
would
at
least
the
the
first
version
of
them
would
all
be
published
with
the
Constitution.
A
But
realistically,
these
are
essentially
the
things
that
we're
going
to
be
tinkering
over
while
the
product
work
is
is
being
done
during
the
transition
phase
roon
at
the
very
least
as
I've
been
working
on
a
lot
of
these
and
I
know
several
people
right
like
there's
a
lot
of
like
pretty
easy
mapping
or
for
core
unit
folks
like
to
pick
the
lowest
hanging
fruit
right,
there's
a
growth
scope
so
obviously
like
it's
pretty
easy
for
growth
contributors
to
think.
A
Oh
I
can
probably
contribute
to
the
the
growth
growth
framework
and
likewise
I
know
for
for
governance.
Arbitration
has
kind
of
been
the
Natural
Area
where
it's
like.
Well,
that's
mainly
what
we
have
to
deal
with
with
govalpha.
So
that's
amazing.
G
A
We
can
contribute
to,
but
at
the
moment
it's
it's
all
pretty
much
just
talks
right,
I
think
until
people
see
drafts
and
feel
like
they
know
how
to
contribute,
they
will
have
trouble
doing
so.
A
But
it's
definitely
our
hope.
Once
once
the
scope
Frameworks
once
we
have
something
to
work
with
I
know
on
my
agenda
is
just
creating
a
a
reliable
call
framework
for
supporting
talking
about
the
Scopes,
because
that
seems
like
the
clearest
area
that
we
can
help
with
with
governance,
consensus.
J
Peyton,
thank
you.
Yeah
I
thought
I'd
just
give
a
little
color
to
what
I
was
putting
in
the
chat.
Kianga
davrington
working
with
acre,
invest,
recognized,
delegate,
yeah
I'm,
just
feeling
that
these
scopes
are
really
speaking
of
rubber
meeting
the
road.
Rafael
I
agree
with
your
comments
there,
but
that
that
the
Scopes
are
really
the
heart
of
what's
going
to
happen,
and
so
at
some
level
I
can
look
at
the
pre-game
MIP
and
conceptually
you
know
it's.
J
It's
really
interesting,
but
I
feel
that
my
ability
to
really
evaluate
it
is
is
quite
constrained
without
some
something
tangible
regarding
those
12
scopes
and
and
particularly
like
the
transparency
behind,
what's
being
planned
already
in
them.
J
Like
you
know,
those
Scopes
are
going
to
be
the
engine
of
the
Dow
for
the
next
two
years
as
far
as
I
understand,
and
that
there's
some
desire
for
a
sense
of
stability,
both
financially
I,
think
right
for
for
the
workforce
and
I
think
as
well
for
everyone
who's
involved
in
their
sense
of
opportunity,
costs,
and
just
you
know
where
the
space
is
moving
and
and
to
have.
J
Even
though
it'll
be
iterative
still
have
some
kind
of
clear
structure
for
the
next,
you
know
you
know
until
the
summer
2024
when
we
think
we
might
be
trying
to
move
into
launching
the
end
game.
So
so
just
wondering
the
plan
behind
really
getting
that
transparency
of
of
where
the
Scopes
are
and
if
we
will
at
least
see
what's
proposed
there
before
the
clock
is
out
on
commenting
on
this
MIP
set
and
then
voting
in
February
or
March.
Whenever
that's
planned.
A
I
can
say
anari
and
obviously,
the
more
time
the
community
has
to
review
the
things
the
better.
So
we
always
encourage
early
revisions
right
and
also
you
don't
have
to
submit
your
MIP
for
the
next
cycle.
A
There's
been
very
few
mips
from
that
and
I've
other
personally
that
have
been
submitted
one
month
and
then
voted
on
the
the
following
month,
because
I
think
like,
if
you're
actually
trying
to
get
community
feedback,
it
can
be
quite
difficult
with
that
said
like
there
are
some
some
different
elements
of
concern
here,
right
like
in
terms
of
needing
structure
for
the
transition
right.
The
longer
we
go
without
that
the
longer
it
it
might
be
hard
for
for
people
to
commit
to
commit
to
this
endeavor.
So
I
don't
know
like
the
the.
A
Is
it
is
up
to
the
proposal
to
the
proposer
right
like
if
it's
a
complete
MIP,
we
we
will
list
it
for
for
voting,
but
the
complete
MIP
doesn't
have
to
have
all
the
Scopes
right.
It
doesn't
have
to
Define
those
as
as
part
of
it,
but
my
understanding
I
guess
is
that,
ideally,
you
would
like
to
have
those
defined.
H
Of
thought
there
I
completely
forgot
what
I
wanted
to
say.
Sorry.
I
I'll
cut
in
line
real,
quick,
too
and
direct
some
attention
to
the
DBC
call
yesterday
as
well,
where
some
specific
Scopes
were
talked
about
being
implemented
and
followed
before
others.
I
think
that
relates
to
how
they
will
be
developed.
I
Alongside
of
the
Constitution
draft,
the
a
way
to
redirect
some
attention
to
make
it
constructive
of
what
we
have
now
is
is
pointing
out
that
the
constitution
itself
should
Define
the
overall
bucket
for
a
scope.
So
it's
kind
of
scoping,
a
scope
and
then,
like
I,
said,
maybe
maybe
suggesting
that
I'll
definitely
take
away
from
that
is
defining
how
some
of
that
logic
of
when
a
framework
is
to
be
followed
and
is
fully
developed,
needs
to
be
spelled
out
a
little
bit
better.
In
this
current
draft.
A
Yeah
appreciate
retro,
seeing
some
commented
chat,
saying
like
oh
yeah,
A
lot's,
coming
in
the
The
Forum
right
or
a
lot
of
feedback.
Yes,
please
do
drop.
H
It
I
have
like
a
ton
of
like
really
small
scale
feedback
like
sentence
structures,
lots
and
you
see
that
that
kind
of
stuff,
so
that
should
I
still
drop
that
in
the
Forum
or
should
I
publisher.
A
So
what
I
might
advise
right
is,
if
it
really
is
just
like
scented
structure,
missing
words
that
sort
of
thing,
like
that's
a
great
thing.
You
can
kind
of
like
DM
to
Rune
or
drop
a
Discord,
or
what
have
you
right
because
it's
you
know
not
really
going
to
go
to
the
the
discourse
of
the
thing
right.
A
It's
just
trying
to
to
tidy
it
up
so
I
kind
of
agree
with
that
in
bolster
like
maybe
that
doesn't
need
to
be
on
the
Forum,
but
particularly
like
the
The
Forum
is
going
to
be
great
for
debating.
Like
is
this.
You
know.
Is
this
a
good
idea
like?
Is
this
parameter
set
the
right
way?
A
You
know
that
sort
of
thing,
so
that
would
kind
of
be
my
advisor
if
it's
editorial
shoot
it
either
to
the
map
editors
or
to
or
to
roon,
and
we
can
kind
of
take
care
of
that
way.
But
let's
try
to
optimize
for
like
more
more
discourse
right
on
on
the
Constitution
itself,
for
the
Forum
foreign.
A
Yet
another
method,
codeine's
mentioning
is
right.
You
can
always
just
Fork
it
and
put
it
into
Google
Docs
and
add
some
comments.
That's
usually
the
best
way
to
share
like
easy
feedback,
but,
like
I
said,
that's
I
prefer
that
that
would
be
like
more
for
formatting
and
and
things
that
don't
actually
affect
the
the
character
of
The
Proposal,
because
if
you
do
have
thoughts
on
you
know
some
of
the
actual
governance
decisions.
That's
that's
really
great
for
actually
preserving
in
in
the
form.
A
So
I
know
one
Challenge
on
my
end
is
just
dealing
with
different
levels
of
of
understanding.
Right,
like
that's.
That's
going
to
be
pretty
normal,
like
I,
would
love
to
talk
about
some
of
these,
like
the
Constitutional,
conservators
and
and
some
of
the
elements
that
are
within
this
plan,
because
I
think
that
part's,
particularly
interesting
design,
wise
and
and
I
think
is
Maybe
hinting
at
that.
Maybe
we're
we're
lacking
some
element
in
in
the
overall
design
right,
but
I
don't
want
to
get
too
too
in
the
weeds.
A
So
if
that's
not
gonna
a
a
fun
conversation
for
people
to
have,
we
can
have
it,
but
I'm
also
down
to
just
talk
more
generally
about
like
well.
Does
the
Constitution
seem
like
it's
missing
anything?
Does
it
seem
like
it's
going
overboard
in
areas
like
what
are
what
are
some
good,
quick
wins?
We
can
have
as
well.
K
Just
gonna
say
on
the
Constitutional
conservative
thing,
it
kind
of
seems
like
people
in
that
role
are
supposed
to
act
more
like
Dove,
Alpha
kind
of
where
it's
like
you're,
very
neutral
you're,
not
really
taking
sides.
You're
just
you've
got
your
one
job
and
you're
gonna.
Do
that
you're
kind
of
staying
out
of
everything
else?
That
seems
to
be
my
take
on
it.
A
Yeah
I
actually
really
like
that
analogy
in
the
chat
today,
because
in
many
ways
that
is
the
role
right,
like
your
job,
isn't
to
say
whether
you
think
something
is
a
good
idea
or
not.
Your
your
job
is
just
to
say
if
you
think
it
fits
the
rules.
A
A
Because
I
think,
like
you,
definitely
need
some,
some,
like
incentive
and
Punishment
mechanism
right
because
foreign,
let's
use
like
an
example
from
from
today,
where
it's
like
what
happens
if,
if
one
of
the
minutia
of
a
of
a
MIP
is
broken
right,
I
mean
obviously
depends
on
on
what
aspect
is
broken
like.
A
You
could
have
like
a
really
serious
thing
that
that
needs
like
a
big
Community
announcement,
but
maybe
we
need
like
a
special
call
to
talk
about
it
and,
and
we
have
to
figure
out
what
the
Dow's
going
to
do
from
there,
or
maybe
it
was
a
typo
that
that
the
the
intent
of
the
MIP
is
is
quite
clear
in
a
different
direction.
A
Right,
like
that's
kind
of
what
gavalpha
struggles
with
on
a
pretty
regular
basis,
which
is
like
how
do
we
you
know
make
this
as
frictionless
as
it
can
be,
is
is
generally
like
my
my
Axiom,
which
is
like
okay
within
the
rules
like
what's
the
least
obtrusive
way
to
to
make
this
happen,
whereas
Your
Role
is
going
to
be
slightly
different
as
a
constitutional
conserver
in
that
you're,
you're
kind
of
incentivized
to
just
be
calling
out
bad
behavior
right,
like
you're
you're,
not
as
worried
about
like,
like
for
forgov
Alpha,
for
instance,
like
a
big
concern,
is
just
like
bandwidth
and
and
labor,
and
you
know
like
there's
if
there's
a
change
and
it
requires
like
every
facilitator
to
sign
off
on
it
like
it's,
it's
a
pretty
big
lift.
A
So
you
know
our
question
is:
is
there
a
way
to
not
have
to
have
to
do
that?
Where
and
as
a
constitutional
conservative
you
don't
really
care
about
the
effort
or
the
labor
or
anything
you
just
care
about
upholding
the
Constitution
and
and
getting
rewarded
for
it?
A
So
I
think
the
dynamic
is
is
pretty
interesting
there
and
in
some
ways,
perhaps
even
easier,
because
there
aren't
all
these
other
social
things
that
you're
worried
about
as
a
constitutional
conserver
that
you
do
have
to
keep
in
mind
as
a
core
unit,
for
example.
Example.
A
Yeah,
okay,
can't
go.
This
is
one
of
the
questions.
I
was
kind
of
wanting
to
maybe
talk
about
as
well,
so
hopefully
others
will
find
it
interesting.
But
is
this
notion
of
like
who
are
the
mkr
holders
that
would
want
to
dive
in
and
and
be
this
involved
to
be
involved
with
cvcs
or
even
just
in
the
Constitutional
conservative
role
themselves?
A
Because
and
in
many
ways
it's
not
like
a
super
exciting
role
right,
like
your
your
job,
isn't
to
talk
about
things
that
you
think
are
good
ideas
or
to
to
talk
Innovation,
even
right,
because
to
a
large
degree,
Innovation
is,
is
kind
of
against
the
rules
in
several
areas,
so
you're
looking
for
people
that
are
just
like
kind
of
do,
good
or
mkr
holders,
I
guess
right,
like
people
that
that
hold
mkr,
that,
like
the
protocol
and
want
to
see
the
the
Constitution
followed.
J
Yeah
Peyton
do
I
understand
and
others
on
the
call
I'm
reading.
The
draft
is
suggesting
it's
mkr
holders
who
are
setting
these
these
policies
or
or
strategies
I
think
is
actually
the
term
that
that's
very
Hands-On
the
mkr
holders.
That's
how
I
understood
the
cbc's,
Constitutional,
voter
committees,
and
so
today's
delegates
are,
are
the
are
executing
the
strategies
that
the
mkr
holders
are
are
coming
up
with.
So
in
that
sense,
I
thought
they.
The
mkr
holders
had
still
a
kind
of
creative
role
or
agency,
but
then
to
my
to
my
point,
is
it?
J
Is
it
expected
that
just
the
financial
rewards
that
are
designed
is
what's
going
to
shift
the
inertia
and
some
of
the
road?
You
know
reasons
structurally,
and
you
know
all
the
all
of
the
reasons
we
don't
have
active
management
or
gain
engagement
by
mkr
holders.
How
do
people
think
this
plan
overcomes
that,
and
do
people
feel
that
that
we've
solved
that
problem.
A
Yeah
I'm
my
technical
clarification
on
before
calling
you
go
night,
so
I
I
think
like
the
idea
is
that
the
mkr
folders
are
like
that.
That
strategic
element
right
is
is
very
much
DVC.
It
is
very
much
like
okay
you're
coming
together
to
try
to
enact
a
strategy
to
try
and
encourage
delegates
to
vote
for
your
plan.
Yada
yada,
the
Constitutional
conserver
side
is,
is
a
separate
role.
Right
like
there.
There
can
be
overlapping
it'll,
be
interesting
to
see
how
we
how
we
kind
of
parse
this
in
in
pregame.
A
If,
if
that's,
what
the
the
voters
want,
but
the
you
know
it
is
a
very
different
role
where
it's
like
one
you're
trying
to
say
here's
the
strategy,
I
think
maker
doubt
should
do
right.
That's
that's
the
DVC
decentralized
voter
committee,
the
Constitutional
conservator
says:
hey
here's.
What
people
are
allowed
to
do
right,
so
you're
not
trying
to
push
an
agenda
as
a
as
a
constitutional,
conservator
you're,
just
trying
to
call
out
Behavior
that's
against
the
Constitution,
so
you
can
get
rewarded
for
for
bringing
it
to
the
service.
K
K
So
it's
kind
of
assumed
everyone's
going
to
be
doing
that
who
holds
maker
and
two
so
delegates,
at
least
at
one
point
need
support
from
at
least
two
voter
maker
holder
committees,
maker,
voter
committees,
which
basically
means
that,
like
delegates
themselves
are
incentivized
to
push
maker
holders
to
be
involved
because
they're
not
getting
paid,
unless
you
there
are
at
least
two
of
them,
and
both
of
them
are
supporting
you.
So
that's
the
other
end
of
it
is
like
theory.
K
If
there
are
only
two
maker
committees,
then
they
both
have
like
all
the
power,
no
matter
how
small
the
second
one
is,
because
the
delegates
can't
get
paid
unless
both
of
them
support
you.
A
Yeah,
so
that's
it's
a
really
cool
game
theory,
something
we
we
hope
to
highlight
in
in
some
of
these
future
calls
just
on
on
how
that
works
right,
because
currently
we
have
a
fairly
ambiguous.
It's
like
undefined
role
as
of
a
delegate
right,
like
the
requirements
to
become
a
recognized
government,
are,
are
very
slim
and
then
it's
kind
of
up
to
the
delegate
to
decide
hey,
I.
Think
a
delegate
should
be
this
and.
J
A
It
and
game
really
takes
that
way
and
says:
okay
delegates,
like
you're,
just
going
to
be
voters,
and
your
only
job
is
to
keep
voting
the
way,
at
least
to
dvcs
or
cvcs,
depending
on
the
context
you
know
support.
A
So
it's
it's
really
kind
of
breaking
down
the
the
role
of
delegate
into
just
a
vote,
submitter
which,
which
is
yeah
another
shift.
That
I
think
is
important
to
explore.
A
A
Cool
so
I'll
take
the
first
one
from
paper
here
which
is
like
why
don't
the
Committees
just
start
as
a
delegate,
contract
and
I
might
even
blow
up
the
question
a
little
bit
if
you're,
okay
with
that
paper
and
expand
it
to
like
yeah,
can
we
use
existing
systems
to
fund
this
transition
rather
than
making
new
ones.
A
Like
does
anyone
see
the
advantage,
I
guess
to
kind
of
separating
out
these
committees
and
and
redefining
their
their
pain,
and
all
that
like?
If
anyone
wants
to
give
the
bullish
argument
for
it?
That
might
be
good
to
hear.
E
Yeah
Innovation
changes
pretty
quickly,
so
I
would
imagine
that
three
years.
If,
for
some
crazy
reason,
AI
is
a
big
part
of
the
centralized
Finance,
you
probably
want
a
committee
to
incorporate
that
and
make
the
best
decision
for
mkr
token
owners.
So,
even
if
you
had
to
change
the
parameters
of
a
smart
contract
to
interact
with
AI
based
dexas
or
what
have
you,
you
still
need
that
human
element
right
we're
not
there
yet,
where
everything
could
be
automated
it'd
be
nice
if
it
could
be
in
the
next
three
years.
E
But
you
know
I,
don't
have
that
confidence,
so
I
think
that
the
Committees
and
to
code
Knight's
point
I
do
hope
for
the
sake
of
maker
thou.
There
are
more
than
two
there's
three
four
five
six
ten
PVCs
and
anyone
who
wants
to
be
a
recognized
delegate
or
a
delegate
or
a
conservative
delegate
can
join
any
of
these
right.
Based
on
what
these
commit.
Cvcs
are
representing
right,
whether
it's
yeah
we're
shooting
for
AI
Innovation
or
no
we're
shooting
for
more
rwas
or
the
third
one
is
shooting,
for.
E
You
know
something
new
that
no
one's
seen
yet
perhaps
refi,
which
could
be
the
next
Frontier,
so
I
think
that's
why
you
can't
put
this
into
a
smart
contract.
You
still
need
to
congregate,
mkr
owners
who
are
leading
these
cdcs
and
allowed
them
to
choose
what
is
the
best
path
in
their
opinion
and
then
the
delegates
who
represent
that
CVC
represent
their
voice
by
being
pass-throughs
or
flow
throughs
of
that
CDC
that
you
belong
to
as
a
delegate
I.
L
Guess
I
just
I,
guess
I
just
don't
see
how
that's
different
from
what
we
have
right
now
like
like.
We
have
two
large
maker
holders
backing
us
right
now
right
and
they
express
their
beliefs
by
putting
their
maker
on
well,
let's
rename
our
delegate
contract
a
committee
and
then
our
job
is
to
represent
their
wishes,
as
we
best
understand
them
and
help
their
Vision
be
implemented.
L
That's
what
we
do
now
so
like
this
just
seems
like
it
adds
a
lot
of
bureaucracy
while
potentially
opening
up
new
avenues
for
abuse
and
gaming.
So
I,
guess
I,
guess,
I'm
concerned
that
you
know
part
of
the
spirit
of
endgame
is
in
is
more
robust
checks
and
balances
and
I
feel
like
as
described
so
far.
L
E
I
think
it's
the
opposite.
It's
the
opposite,
because
now
you're
empowering
other
Deli
mkr
token
owners
to
participate
and
take
away
the
power
of
the
number
one
whale
in
the
ecosystem
of
maker
thou
right.
So.
L
L
E
L
E
J
Okay,
so
I
think
I
hear
something
that
addresses
my
question,
but
it's
not
been
explicitly
stated,
which
is
that
the
emissions
right
that's
a
huge
which
may
not
be
that
apparent
to
a
lot
of
people
who
are
looking
at
this
from
the
outside
this
cult.
The
plan
hinges
on
increasing
the
supply
of
mkr
tokens.
J
That
I
was
asking
to
chat
about
like
in
into
your
point
paper
about
the
status
quo
is
the
is
the
answer
that
the
plan
brings
forward
is
that
we
we
expect
the
status
quo
to
to
remain
like
the
current
mkr
holders,
which
is
why
we're
going
to
shift
by
minting
new
mkr,
and
the
idea
is
that
there's
there's
some
new
people
or
other
people
that
are
gonna
acquire
mkr
and
those
mkr
holders
are
going
to
be
interested
in
in
participating
in
this
in
this
game.
J
J
And
so
now
you've
got
mkr
holders
that
are
doing
part
of
what
you
do
today,
which
is
stay,
informed
and
develop
a
point
of
view
and
then
now
those
mkr
holders
are
going
to
directly
communicate
those
views
that
then
you
as
the
delegate
should
merely
just
execute,
am
I
am
I
right
in
saying
it's
about
the
emissions.
It's
about
a
new
group
of
mkr
holders
that
are
going
to
behave
differently
than
those
who
have
held
the
mkr
token
to
date.
L
L
My
point
is
that
the
emissions
will
not
be
sufficient
for
anyone
to
challenge
control
or
exert
policy,
significant
policy
influence,
and
that
is
not
already
able
to
today,
even
if
they
capture
100
of
the
emissions
in
a
year
which
is
I,
think
By,
Design
not
not
possible
and
and
and
then
I
guess,
like
probably
a
lesser
thing
is
just
if
someone
is
so
in
if
a
maker
holder
is
so
informed
about
how
they
want
things
to
be
voted
upon,
that
a
delegate's
role
is
merely
ministerial
like
just
pushing
a
button,
then
why?
L
Don't
they
just
push
a
button
themselves?
I,
don't
understand
why
they
can't
vote
directly,
so
I
I,
guess
I'm
just
confused
about
again
like
if,
what's
what's
the
clear
problem
to
solve
here
and
then
what
how
does
I
and
then
after
that,
how
does
any
of
this
address
those
problems
as
I
understand
it?
L
M
Yes,
I
I
I'm,
not
here
to
defend
the
CVC
structure.
I,
don't
know
how
how
well
it
solves
the
problem,
but
I
think
we
can
think
back
and
and
remember
those
issues
that
it
set
out
to
solve
at
least
perceived
issues
like
even
that
there
may
be
some
disagreement
about
whether
they're
actual
issues
or
not
but
and
I.
Think.
M
The
the
overall
goal
here
is
to
indeed
increase
MPR
holder
participation
and
and
create
a
a
governance
experience
that
gives
them
satisfying
results
and
the
issue
so
to
to
papers.
Last
question:
why,
then,
if
they
have
so
such
specific
ideas,
then
why
don't
they
go
to
The
Forum
themselves?
Read
all
the
myths
and
vote
themselves
and
I
think
putting
it.
That
way
is
pretty
clear
like
that.
M
That
is
a
full-time
job,
so
the
the
goal
there
I
think
is
to
to
create
a
lower
bandwidth
interface
with
maker
governance
and
put
basically
three
parties
in
a
room
which
are
the
experts
who
who
may
advise
on
good
policies,
implementations
things
like
that.
The
delegates
Who
take
what
those
experts
are
recommending
and
then
turn
that
into
something
that
might
be.
That
might
appeal
to
MPR
holders
and
then
those
MPR
holders
that
are
that
are
interested
in.
M
L
G
M
G
L
None
of
this
is
none
of
this
solves
the
key
problem
of
finding
maker
holders.
Saying
hey,
why
don't
you
get
involved
and
they
say
well,
we
would
like
to
see
a
constitutional
concert
or
a
conservator
committee
or
whatever
and
okay,
and
that
that's
great
then,
let's
make
it
happen,
but
I
I
mean
I've
talked
to
all
of
the
top
10
maker
holders
in
recent
months.
I
do
not
know
any
that
have
asked
for.
Let's
give
us
a
committee
where
we
have
to
show
up
once
a
month
and
and
tell
people
what
to
do.
M
Yeah
I
think
that's
valid
criticism
and
again
I'm
not
here
to
defend
the
the
specific
implementation,
but
I
do
think
it
begs
the
question:
if,
if
this
is
not,
it
then
are
there
like?
Do
we
have
alternatives
to
to
offer
that
kind
of
mkr,
folder
and
and
voter
experience.
L
I
think
that's
a
fair
retort,
because
I
I
don't
have
a
better
alternative.
I
think
I
would
just
say
that
this
is
going
to
take
up
a
lot
of
I,
mean
makers
basically
going
to
turn
inward
for
the
next
18
months
and
anything
ambitious
that
happens
is
going
to
be
because
it
was
already
in
motion
or
because
somebody,
just
it's
it's
their
baby
and
they
want
to
see
it
happen.
L
So
I
think
this
sucks
up
a
lot
of
air
out
of
the
room
that
could
be
used
towards
focusing
on
product
right.
You
know
we're
supposed
to
be
here
to
create
a
currency
if
it's
supposed
to
be
on
unbiased
and
freely
transmissible
by
anybody
in
the
world
and
transact
in
it,
and
instead
we're
going
to
spend
a
lot
of
time
with
about
50
people.
L
You
know
going
back
and
forth
about
the
details
of
of
ad
adding
extra
bureaucratic
layers
and
potentially
signaling
to
business
partners
and
governments
that
we
are
hardening
ourselves
to
survive,
rugging
them
or
or
otherwise
you
know
being
acting
in
bad,
what
they
may
view
as
bad
faith.
So
I,
just
I
I
I
I
recognize
as
a
problem,
but
I
feel,
like
you
know,
just
because
there's
not
I
don't
have
a
great
alternative
to
fix
it.
This
is
not
a
new
problem.
L
We've
it's
always
been
a
problem,
but
maybe
we
could
at
least
focus
on
the
work
at
hand
rather
than
a
bunch
of
inner
dealings
or
at
the
very
least,
do
it
at
a
pace
where
it's
not
going
to
be
the
only
focus
when
we
could
be
working
on
things
like
you
know
identifying
where
teleport
should
go
next
or
getting
vaults
on
l2s
or
you
know,
you
know,
get
a
you
know:
50
Community
Banks.
L
M
Yeah
I
I
do
think
the
what
it
tries
to
do
is
is
to
also
think
about
the
user
experience
of
governance
and,
for
example,
the
of
course.
The
fact
that
you
say
well
I
know
all
the
big
NPR
holders
they're
not
asking
for
this.
Of
course,
that
is
survival
Survivor
bias
like
maybe
they
don't
because
they're
the
few
MPR
holders
who
who
sat
it
out
and
and
are
still
here.
You
should
be
talking
to
the
many
that
have
been
scared
away,
because
the
the
state
of
maker,
governance
right
I,
think
that's.
L
A
In
that
role,
right,
like
not
to
say,
I,
don't
know
if
that's
a
role
they
they
Envision
themselves
in,
but
like
literally
people
who
spent
the
last
couple
of
years
just
getting
paid
to
like
maintain
some
of
the
plumbing
of
maker.
Like
that's,
that's
a
great
person,
at
least
in
my
eyes,
if
I
were
put
in
charge
of
hiring
for
the
role.
I'd.
A
Probably
look
like
something
like
that,
because,
if
you've
been
doing
a
bunch
of
like
less
think
less
thankful,
I'll
call
it
work
for
for
maker
you'll,
probably
fit
in
pretty
well
to
to
a
role
like
this,
which
yeah
I
think
is,
is
likely
not
to
get
get
a
lot
of
love
from
from
the
community,
necessarily
because
you're.
Essentially,
your
entire
job
is
to
to
be
looking
for
for
Behavior
to
call
out
not
a
not
a
super
nice
social
position
to
hold.
A
All
right,
I
am
noticing
our
time
here,
at
least
for
me,
the
back
half
went
pretty
quickly,
so
I
really
appreciate
all
the
voices
chiming
in
today.
I'll
give
one
final
call
if
you
have
less
comments,
questions
suggestions
but
yeah
really
huge
thanks
to
everyone
for
making
this
an
engaging
conversation.
A
All
right,
well,
a
few
of
you
are
still
going
in
chat,
so
I'll
encourage
us
to
maybe
be
with
us
either
the
Discord
or
the
Forum.
It
was
really
a
pleasure
today.
As
always
folks,
thanks
for
joining
us,
as
always
we'll
be
back
same
time
same
place
next
week,
keep
the
chat
going
both
on
the
Forum
and
in
our
Discord,
and
please
do
reach
out.
We
would
love
to
make
these
calls
more,
both
engaging
and
educational
for
you.
So
if
you're
a
regular
attendee.
A
Your
view
is
super
important
to
us,
but
yeah.
That's
all
for
today,
thanks
folks
hope
you
have
a
great
rest
of
your
Thursday
foreign.