►
From YouTube: Governance and Risk Meeting: Ep. 85
Description
# Agenda
## Governance Segment
- [Charles St.Louis](https://twitter.com/CharlieStLouis): Review of [MIP3 - Governance Cycle](https://forum.makerdao.com/t/mip3-governance-cycle/1905/17)
- LongForWisdom: Governance at a Glance
## Technical Segment
- [Wil Barnes](https://twitter.com/wilbarnes): [Revisiting GSM Delay & Dark Spell Social Layer Discussion](https://forum.makerdao.com/t/revisiting-gsm-delay-dark-spell-social-layer-discussion/1937)
- Mariano Conti: Technical Requirements for SCD Shutdown.
## Risk Segment
- Maker_Man: 0 Bid Vault Auction Modelling
- [Cyrus Younessi](https://twitter.com/cyounessi1): New series of Risk calls next week
- [Vishesh Choudry](https://twitter.com/visavishesh): State of the Peg
## General Q&A
We'll open the floor for any questions about Scientific Governance and Risk.
Please join us and help shape the future of the MakerDAO.
## Links
- [Video/Voice](https://zoom.us/j/697074715)
- [Dial-in](https://zoom.us/u/acRbIMDvK)
- [Calendar](https://calendar.google.com/calendar/embed?src=makerdao.com_3efhm2ghipksegl009ktniomdk@group.calendar.google.com&ctz=America/Los_Angeles)
A
Hello,
everyone
welcome
to
the
April
9th
edition
of
the
scientific
government's
and
risk
meeting.
My
name
is
Richard
Brown
I'm,
the
head
of
community
development
at
Maker
Dow,
in
keeping
with
a
trend
that
we've
been
seeing
over
the
last
few
weeks.
We
have
a
furious
level
of
activity
going
on
in
the
governs
community
and
that's
translated
into
a
pile
of
things
that
we
need
to
go
over
in
this
call.
So
the
agenda
is
diverse
and
it's
large
I'm
going
to
keep
my
section
to
a
minimum.
A
This
is
what
we
have
for
the
agenda
this
week,
though
I
Charles
st.
Louis
is
going
to
give
us
a
review
of
tip
number
three,
my
favorite
myth
of
all
it's
an
app
that
goes
over
what
the
governor
cycle
will
look
like
in
the
future.
So
we
help
the
ecosystem
begin
to
internalize.
Some
of
the
processes
that
they've
brought
to
the
table
for
us
long
for
wisdom
will
give
us
his
governance,
a
glance
segments
will
Barnes
is
back
and
better
than
ever,
he's
going
to
review
the
the
GSM
and
the
dark
fix.
A
Those
were
very,
very
important
discussions
back
in
the
olden
days
before
everything
changed,
but
they're
still
important
now
and
it's
time
to
revisit
some
of
these
legacy
threats,
which
is
another
topic
that
I've
been
sort
of
beating
the
drum
on
for
the
last
couple
weeks
as
well.
We
can't
lose
all
threads,
so
he's
going
to
give
us
talked
about
the
dark
effects
and
also
some
review
of
what
social,
what
solutions
need
to
be
moved
to
the
social
layer
and
with
that
social
liberalism?
Interesting
discussion.
A
A
Super
exciting
work,
depending
on
his
definition
of
exciting
but
I'm,
very
happy
to
see
him
jump
in
and
pick
up
a
task
that
was
complicated
and
needed
to
be
done.
So
he's
going
to
talk
about
zero
bid,
vault
auction
and
how
to
model
that
data
Cyrus
is
going
to
give
us
a
heads
up
on
the
new
series
of
risk
calls
we
have
next
week
and
then
vishesh
will
talk
to
us
with
the
state
of
the
peg
huge
agenda,
not
a
lot
of
time
to
go
over
it.
C
Yeah
I
just
want
to
put
out
a
small
notice.
A
few
weeks
ago
we
were
doing
risk
presentations
on
some
tooling
that
we
wanted
to
walk
through
with
governance.
Obviously
that
got
sidetracked
a
bit.
So
we
wanted
to
resume
that
work
next
week
and
we
just
kind
of
wanted
to
do
it
on
consecutive
days,
so
we're
gonna
be
holding
additional
governance,
calls
next
week
on
Tuesday
and
Wednesday.
C
A
A
The
we
had
these
chats
a
long
long
long
time
ago,
whether
we
should
have
four
or
five
different
types
of
calls
and,
of
course,
the
week
it
was
my
opinion
that
it's
better
to
wait
until
we
see
what
work
was
like
and
we
reached
density
before
we
start
splitting
up
into
separate
corners
to
do
other
stuff
and
I.
Think
that
we're
rapidly
approaching
that
state
right
now
so
Cyrus's
team
has
been
doing
a
fantastic
amount
of
work.
Piles
of
thousand
calls
to
go
over
and
there's
just
no
chance.
A
We
can
take
care
of
it
in
these
columns,
and
so
next
week
is
risk
week,
like
sort
of
like
Shark
Week.
That's
okay!
Back
to
the
super
important
stuff
that
I
was
about
to
say.
We
have
lots
and
lots
of
things
that
are
happening
at
once.
The
community
is
self-organizing
in
ways
that
I
could
only
have
dreamed
were
possible
six
twelve
months
ago,
I'm
super
happy
about
that.
A
There
sees
the
3ds
whole
is
taking
care
of
its
own
destiny
and
that's
what
that's.
What
the
dow
is
all
about,
and
that's
what
we've
all
been
working
towards
and
as
that
autonomy
increases
we're
going
to
run
into
some
more
growing
pains.
That's
basically
what
governance
is
is
just
a
never-ending
series
of
growing
pains
and
improvements
and
iterations.
We
have
been
growing
and
iterating
and
improving
all
the
time,
so
that
obviously
I
think
that's
a
problem,
but
here's
some
examples
of
things
that
have
been
happening
in
the
community
just
very
recently.
A
So
we
have
the
community
brought
to
us
about
sed
shut
down.
They
brought
up
a
vote
for
both
compensation.
They've
bought
brought
up
a
vote
for
rank
choice,
adding
a
new
type
of
voting
or
pulling
into
our
system,
but
presumably,
and
hopefully,
we'll
be
better
able
to
capture
signaling
in
the
ecosystem.
All
these
things
are
very
healthy
and
very
cool.
A
Here's
the
but-
and
you
know,
there's
always
gonna-
be
a,
but
when
I
start
talking
stuff
the,
but
is
that
there's
there's
constraints
that
we
all
operate
under
the
the
question
becomes
what
is
possible
in
timelines
allocated
to
us
and
in
light
of
all
the
other
things
during
the
critical
paths
and
etc.
So
what
I
want
to
talk
about
is
how
we
can
how
we
handle
coordination.
When
polls
go
through
or
polls
are
getting
proposed.
A
There
is
a
fantastic
system
so
fantastic.
If
there's
a
large
number
of
moving
pieces
involved
with
the
ecosystem,
piles
of
stakeholders
pause
the
process,
piles
of
actors
inputs
inside
the
foundation
inside
the
Dow
or
inside
the
crypto
space.
The
p5
space
in
general,
so
I
want
us
to
start
thinking
about
coordination
of
tasks,
determining
feasibility,
making
sure
that
stakeholders
have
been
brought
into
the
conversations,
because
we're
gonna
run
into
situations
where
everybody
or
they've
done
I
should
say
everybody.
A
So
when
the
community,
the
majority
of
the
community
signals
their
intent
to
move
in
a
certain
direction
or
have
something
happen,
that's
great!
That's
that's!
What's
governance
is
all
about,
but
intent
doesn't
equal
implementation
necessarily.
So
I'm
speaking
around
about
issue,
so
let
me
give
you
some
examples.
So
the
sed
shutdown
is
a
good
one.
So
the
the
community
came
up
with
the
desire
to
shut
down
sed.
They
came
up
with
the
did
some
research
and
figured
that
April
24th
is
a
good
day
to
do
it.
A
I
do
not
dispute
that,
but
it's
we're
going
to
see
very
soon
that
there's
things
that
might
just
might
not
be
literally
possible
to
do
we're
going
to
have
timing
constraints,
resource
constraints,
just
purely
mechanical
conspirators.
There's
occasional
grammarians
things
that
smart
contractors,
if
they
cannot
do
or
they're
we're
going
to
require
all
iterations
of
smart
contracts,
which
imply
additional
auditing
or
testing
developers,
did
need
to
be
found
and
reallocated
so
there's
implementation.
A
B
Thanks,
rich
yeah,
so
hey
everyone
before
I
kind
of
get
started
into
actually
walking
through
MIT,
three
I
kind
of
give
I
would
like
to
give
a
brief
overview
of
what's
going
on
in
the
world
of
MIPS
in
relation
to
governance.
So
recently
we
launched
a
couple
blog
post
detailing
the
self-sustaining
maker,
Dow
Initiative,
and
one
of
those
key
pillars
in
becoming
a
self-sustainable.
Dow
is
the
proposals
that
are
created
through
the
maker
improvement
posle
framework.
B
So
on
Monday
we
actually
proposed
the
initial
thirteen
MIPS
that
we
feel
necessary
to
create
long
term
governance
and
self
sustainability
of
the
protocol.
So
as
of
this
week,
there's
been
a
lot
of
constructive
feedback
and
positive
feedback
from
a
lot
of
the
community.
Members
and
I
do
encourage
anyone
here
who
hasn't
taken
a
look
yet
to
dig
into
them,
or
at
least
read
them.
B
If
you
have
the
time
in
terms
of
the
actual
MIPS
or
an
the
phase
of
this
whole
thing
that
we'll
get
into
later,
the
current
MIPS
are
technically
under
review
during
this
period
of
time.
And
what
that
means
is
that
the
NIP
authors
work
with
the
community
members
on
integrating
this
feedback
within
the
mess
to
try
to
cover
all
the
bases,
any
gaps
that
are
there
or
any
wording
that
needs
some
clarifying,
and
this
period
will
last
until
April
27th
and
on
April
27th.
B
Exactly
the
there
will
be
something
called
the
timing
pole,
which
is
a
special
governance
pool
which
basically
gives
the
community
the
chance
to
decide.
If
you
want
to
proceed
with
a
ratification
vote
for
these
thirteen
MIPS,
so
that
they'll
actually
be
formally
in
place
or
to
delay
that
vote
for
one
month
and
Institute
a
period
of
time
for
competing
proposals
to
be
proposed
by
the
community.
B
B
So
that's
come
some
background
context
on
all
of
that
and
though
there
will
be
some
references
to
map
0
during
this
kind
of
walkthrough,
so
I
do
urge
anyone
to
try
and
read
through
that.
I
know
it's
quite
long,
but
it
does
help
clarify
everything.
That's
going
on
in
the
world
of
maps
so
now
I'm
going
to
share
my
screen.
B
B
So
this
new
formal
governance
cycle
has
the
goal
of
being
this
predictable
framework
for
maker
holders
and
the
community
to
make
decisions
and
make
these
decisions
transparent,
and
it's
very
focused
on
a
certain
time
period.
So
it's
a
monthly
governance
cycle
and
it
standardizes,
basically,
it
standardized
through
a
course
of
meetings
and
results-driven
throughout
the
process.
B
So
the
myth
itself
has
two
main
components:
the
governance
cycle
breakdown,
which
is
a
week-by-week
breakdown
over
the
course
of
the
four
weeks
of
the
month,
and
in
addition
to
that,
there's
the
definition
and
process
for
changing
something
called
the
default
inclusion
threshold,
which
will
initially
be
set
at
3,000
MKR.
That
is
I'll,
get
into
more
on
what
the
purpose
of
that
is.
But
these
are
the
the
main
reasons
for
this
proposal.
A
B
So,
in
terms
of
the
first
component
of
this
myth,
there's
the
governance
cycle
breakdown,
so
each
monthly
governance
cycle
begins
on
the
first
Monday
of
the
month,
with
maker
and
proposals
being
submitted
by
community
members
or
by
the
foundation.
At
this
period
of
time.
These
frozen's
will
be
considered
for
inclusion
at
the
end
of
the
month
during
the
executive
and
the
governance
cycle
ends
with
the
executive
out.
That
would
begin
on
the
fourth
Monday
of
said
month.
B
B
B
The
first
week
of
the
governance
cycle
is
when
the
actual
MIT
proposals
themselves
are
formally
submitted
into
the
governance
cycle.
So,
in
order
to
provide
some
context
for
most
submission
is
the
fifth
step
in
a
myths
life
cycle
before
that
there
is
the
conception
phase,
which
is
basically
a
when
the
idea
of
a
myth
is
brought
up
in
a
discourse
forum
or
on
Twitter
or
anything
it's
just
when
this
idea
is
born.
B
Basically,
next
is
when
the
actual
proposal
is
submitted
to
the
discourse
forum,
where
it
needs
to
be
English,
comply
with
the
actual
components
and
criterion
in
the
MIT
template
itself,
so
the
MIT
editor
would
go
in
and
see
that.
Yes,
this
fits
all
the
standards
and
the
criteria
is
met,
it's
good
to
go
after
that.
B
After
that,
there
is
so
during
the
RFC
phase.
There's
a
couple
things
that
are
important
to
note.
So
there's
something
called
the
feedback
period
and
the
frozen
period.
So
the
feedback
period
is
the
minimum
amount
of
time
that
the
community
has
to
review
this
specific
map
or
maps,
and
the
frozen
period
is
when
everything
is
set
in
stone
and
there's
no
more
changes
that
can
be
made
and
it's
a
waiting
to
be
formally
submitted
at
that
period
of
time.
B
So
the
foremost
mission
is
done
basically
by
submitting
to
the
the
discourse
form
as
well
as
github,
and
then
it
can
be
iterated
on
during
the
first
Thursday
of
that
month
is
when
the
actual
inclusion
poll
review
meeting
happens.
So
this
is
when
the
community
comes
together
and
discusses
which
proposals
are
in
accordance
with
the
guidelines
as
well
as
which
ones
may
seem
kind
of.
B
I
guess,
appealing
to
the
community
week:
2
is
when
the
actual
governance
facilitator
pushes
this
inclusion
pool.
He
proposals
that
the
government
governance
facilitators
have
gauged
general
consensus
on
are
included,
and
this
week
2
is
very
heavily
reliant
on
the
government,
facilitator
kind
of
working
with
the
community
and
trying
to
figure
out
which
are
the
best
ones
to
getting
included.
B
So,
as
I
mentioned
before,
there's
something
called
the
default
inclusion
threshold.
It's
a
variable
amount
that
can
be
changed
with
the
suburb
Ozel
that
are
defined
later
on
this
threshold
is
a
value
that
is
automatically
counted
towards
the
no
vote,
tally
of
the
inclusion
poll
itself,
so
the
default
inclusion
threshold
is
changed
with
these
proposals.
If
the
community
feels
like
the
current
value
is
not
there
now,
I
do
know
that
the
value
is
not
set
in
this
map
itself,
but
I
do
have
to
make
that
change
and
be
upfront
that
I
do
not
include
it.
B
It
will
be
3000m
cure.
So,
during
this
inclusion
poll,
basically,
the
community
comes
together
and
they
vote
yes
or
no
on
whether
to
include
this
proposal
to
pass.
The
outcomes
are
if
the
yes
votes
for
the
given
option
in
the
inclusion
poll
are
higher
than
the
combination
of
no
votes,
plus
this
default
inclusion
threshold
of
3000
MPR,
the
the
poll
passes,
we're
now
on
the
second
Thursday
of
the
month
when
the
governance
poll
review
occurs.
B
This
is
much
like
the
current
governance
polls,
where
general
risk
and
governance
topics
are
discussed
at
hand
without
any
mid
decision
making
occurring
next
is
week
three,
so
the
third
in
the
third
Monday
and
Wednesday
of
the
month.
The
governance
poll
will
officially
be
submitted
by
this
governance
facilitator
and
the
poll
will
run
for
the
duration
of
Monday
until
Wednesday
poll
is
also
a
yes
and
no
empirical.
B
That
accepts
or
rejects
the
combination
of
all
the
MIPS
and
that
have
passed
in
this
inclusion
stages
mentioned
before
and
then
we're
on
to
the
Thursday
of
the
month.
So
this
is
the
big
meeting
where
the
governance
community
comes
together
and
basically
decides
on
reviewing
the
executive
vote
options,
so
it
is
a
public
meeting.
I
will
focus
either
on
future
proposals
or
any
controversy
surrounding
the
current
governance
poll
and
future
upcoming
executive
vote.
B
With
relation
to
those
mips
in
key,
so
in
the
case
of
there
are
too
many
no
votes
in
the
governor's
poll
and
there's
evidence
that
there
is
an
effort
to
silence
any
legitimate
concerns
that
the
community
has.
The
governance
facility
must
consider
whether
it
is
a
risk
actually
I'm
proposing
this
executive
voting
could
cause
potentially
a
governance
split.
So
in
that
case
the
governance
facilitator
can
decide
to
not
deploy
the
executive
executive
vote
itself,
but
they
must
openly
communicate
to
the
community
why
this
decision
has
been
made.
B
So
in
in
the
future,
when
there
are
multiple
governance
facilitators,
ideally
they'd
all
be
in
consensus
that
the
executive
out
creates
the
significant
risk
and
they
all
kind
of
agree
to
not
post
it.
Yes,
that
kind
of
is
a
more
longer-term
thing,
but
it
is
needed
to
be
mentioned
so
the
last
week
of
the
governed
cycle
is
week
four
and
during
the
Monday
of
the
month
the
executive
vote
is
actually
submitted,
if
indeed
the
governance
call
had
passed
in
the
past
and
the
no
votes
are
not
too
high
to
deem
it
a
threat
to
consensus.
B
So
this
is
any
overview
of
exactly
what
the
governance
cycle
looks
like
I
put
it
next
to
the
the
steps
that
overlap
with
the
MEP
cycle
to
kind
of
tie
them
both
together.
So
just
to
give
a
brief
overview.
The
the
oven
cycle
is
begins.
With
these
proposal
submissions,
then
it
is
discussed
upon
to
include
them
into
this
inclusion
pool
the
inclusion
pool
happens,
the
governance
pull
review.
Meeting
that
happens,
governance
pull
occurs
and
then
the
big
meeting
review
for
the
executive
occurs.
And
lastly,
the
executive
vote
either
accepts
or
rejects
these.
These
MIPS.
B
The
second
component
of
the
government
cycle-
myth
3,
is
the
default
inclusion
modification
proposal.
So,
as
I
mentioned,
this
threshold
is
crucial
to
the
new
poll
and
is
set
at
3000m
care
currently,
but
can
be
discussed.
I
mean
it's
probably
the
biggest
thing
that
we
want
feedback
on
at
this
point
in
this
component,
if
there's
a
default
period
of
three
months.
So
when
someone
submits
the
change
for
the
default
inclusion
threshold,
it
will
last
for
a
period
of
3
months
and
the
frozen
period
1
month.
B
Do
you
know
that
these
periods
can
overlap,
and
it
is
based
on
the
MIPS
authors
decision
on
whether
the
frozen
period
can
start
before
or
after
the
default
feedback
period?
And
basically
we
just
provide
this
template
for
making
those
proposals
to
change
the
default
inclusion
threshold,
which
includes
the
the
number
of
the
suburb
Ozel,
the
author,
the
deeper
pose
and
then
a
special
specification
section
is
the
summary.
So
it's
a
proposal
to
modify
this
threshold
to
this
value.
What's
the
reason
behind
it
and
what
is
the
exact
value.
B
A
D
B
D
Chance,
if
you,
if
you
burn
maker
and
let's
say
you-
burn
to
half
the
maker,
you
know
the
thresholds,
change
on
everything
and
so
the
question.
It
begs
the
question:
what's
the
point
of
of
having
thresholds
on
things
to
accomplish
actions,
and
then
the
next
question
is:
if
you're
going
to
have
a
threshold,
why
isn't
it
related
to
the
outstanding
at
the
time
versus
a
fixed
number
that
will
be
a
percent
that
changes
relative
to
the
outstanding.
A
Yeah,
it's
a
good
point.
Well,
I!
Actually,
don't
need
to
explain
to
you
making
room
but
I'll
say
it
out
loud
anyways.
That
threshold
is
one
of
the
trickiest
things
you
can
do
when
you're
coming
up
with
the
system,
particularly
one
that
has
algorithmic
aspects
and
human
aspects
as
well,
I'm
sure
that
the
MIT
architects
would
be
completely
open
to
a
more
refined
approach.
Though,
if
you
have
suggestions
about
had
it
is
especially
well.
D
B
B
B
A
E
E
Really.
The
first
poll
is
up
still
yeah,
which
is
just
a
sort
of
general.
Should
we
compensate
at
all
yes
or
no?
Yes,
is
currently
winning
I
believe
next
week,
we'll
be
asking
whether
the
if
any
conversation
like
Rihanna's
Amish
is
whether
it
should
be
done
denominated
in
by
or
both
the
bolts
asset.
So
II
thought
that.
E
So
seeking
consensus
then
so,
as
I
just
mentioned,
the
other
polls
also
the
ranked
choice.
Voting
as
an
option
for
governance
polls
was
on
June
4th
couple
days
and
seems
to
have
passed,
which
is
cool
so
hopefully
soon
we
will
have
the
option
to
use
rank,
switching
governance
walls
which
will
be
amazing,
I
have
so
many
thanks
to
Sam
sorting
that
sort
of
spearheading
that.
E
E
So
I
think
any
other
thing
I'll
just
mention
was
that
there's
number
of
firm
governance
initiatives
going
on.
So
if
you
have
extra
time
and
want
to
read
about
stuff
that
people
are
doing,
then
it's
just
taken
the
ongoing
initiatives,
Lincoln
governor
grants
and
the
reason
the
other
day,
Help
Wanted
post,
requesting
a
plug-in
that
allows
for
signaling
with
MKR
on
a
discourse
forum.
So
there
were
at
least
we
can
explore
that
option
in
the
future.
A
Okay,
thanks
yeah,
if
you
do
have
time
and
you're
interested
in
governance,
and
you
do
like
forums
or
some
combination
of
all
three
of
those
things.
Please
join
us
and
and
use
long
core,
isn't
governance
that
advances
a
launching
point,
because
it's
the
upcoming
initiatives
that
probably
demand
the
most
attention.
I
keep
on
repeating
this,
but
I'll
say
it
again
that
governance
is
happening
at
an
ever-increasing
pace
in
our
ecosystem.
Community
is
self-organizing.
A
F
A
F
Back
in
February,
we
actually
started
this
discussion
about
what
to
do.
If
we
have
a
critical
bug
and
then
it
was
pretty
much
you
sort
by
the
events
of
March.
So
purpose
of
this
discussion
is
to
really
revisit
two
topics
that
we
need
to
start
thinking
about.
First
is
the
GSM,
which
is
during
the
downturn.
We
actually
changed
it
to
four
hours,
I'd
like
to
think
about
what
we
should
do
in
the
future,
with
the
GSM.
F
F
To
formalize
that
discussion
into
a
documents
we,
if
we
ever
need
to
use
it,
at
least
in
the
interim
short
term,
before
it's
formalized
into
a
myth,
we
know
what
to
do.
I'll
first
just
discuss
the
GSM
delay.
I'll
discuss
these
slides
and
you
know,
walk
through
the
dark
spell
slides,
but
then
we
can
have
a
short
discussion.
Just
make
sure
we
get
to
do
all
right
area
cool
all
right,
so
the
gist
and
delay
is
currently
four
hours.
We
we
ended
up
in
this
state
in
mid-march
I
think
it
was
the
13th.
F
The
14th
I
can
remember
the
exact
day,
but
I
promise
the
discussion
of
what
do
we
feel
the
optimal
TSN
delay
is
and
how
do
we
get
there?
We
want
to
turn
directly
to
to
24
hours
was
24
hours
the
right
time,
so
yeah
I
want
to
have
that
discussion
and
get
feedback
from
the
community
on
how
to
handle
that,
and
also
precedent.
We
moved
to
four
hours.
I
want
to
understand
was
four
hours
the
right
time.
What
do
people
think
of
that
move?
F
F
Moving
quickly,
the
dark
spell
socially,
this
is
you
know
something
we
need
to
find
consensus
on
soon.
First
is
I,
won't
actually
discuss
what
the
dark
spell
is
be
on.
It
just
provides
us
a
way
to
patch
a
bug
without
exposing
the
biker
on
chain.
For
me
different
reasons,
that's
important
because,
first
of
all,
someone
can
reverse
engineer
the
code.
That's
sitting
on
chain
before
the
bug
fixes
applied
the
code.
Implementation
is
ready,
but
we
need
to
actually
understand
social
layer.
How
we're
going
to
handle
that
and
then
emergency
shutdown
is
still
an
option.
F
F
A
F
So
and
then
non-critical
bugs
are
still
surface
to
existing
governance
channels.
Like
Curt
discussed
recently,
debt
auctions
can
be
blocked.
Things
like
that
will
not
be
patched
with
the
dark
spell
it's
just
unnecessary,
I
think,
there's
or
better
serve
just
discussing
them
in
public
and
then
passing
them
through
a
normal
vote,
so
yeah,
it's
important.
The
dark,
still
is
only
used
as
an
exceptional
circumstances
should
really
be
if
the
critical
bug
that
affects
a
lot
of
ether,
a
lot
of
died,
and
it's
also
designed
to
obscure
as
much
information
as
possible.
F
So,
given
this
it's
the
purpose
of
the
social
layers
that
we
have
a
clear
but
narrow
mandate
to
cast
this
thing,
so
it
should
be
really
only
focused
on
fixing
a
critical
bug
that
would
otherwise
be
damaging
across
the
board.
So
the
back
Integra.
We
propose
these
three
models.
The
major
and
Cavaliers
model
independent
are
there
at
that
station
model
and
a
community
appointed
trusted
party
model.
F
I
really
just
want
to
like
go
through
these
three
slides,
just
discuss
them
again,
because
I
think
these
are
where
we're
gonna
frame
the
discussion
and
we
like
to
get
community
like
we're.
Just
you
know
signal
which
one
they
feel
is
best
fitting
for
for
multi,
icon
all
died
and
then
also
it.
You
know
we
can
tweak
these
and
discuss
implementation
details
in
the
forums,
but
the
major
MK
owners
model
is
just
a
pre-selected
community
of
Imperial
orders.
The
dev
team,
current
or
EPC,
will
interact
directly
with
this.
F
This
committee,
when
a
bug
is
discovered,
coordinated
fix.
The
in
carolers
will
sign
the
transaction
government
support
for
the
solution
and
then
the
dark
spell
will
be
used
to
patch
the
bug.
Some
of
the
advantages,
the
number
of
people
would
acknowledge
the
bug
this
kept
to
a
minimum,
but
then
there's
some
disadvantages
to
that.
It's
high
trust
that
the
dev
team
and
inkay
are
harder
to
me.
Does
the
right
thing?
Maybe
the
in
care
holder
doesn't
feel
comfortable.
F
The
testing
to
the
fix,
or
just
because
I'm,
the
technical
acumen
bugs
can
be
quite
complicated
in
the
system.
Then
there's
just
faced
period
potential
conflicts
of
interest,
so
the
implementation
details
I'd
like
to
discuss
in
greater
detail
in
the
forum's.
We
can
really
discuss
the
fine
print
and
how
this
is
actually
handled,
but
how
many
members,
the
committee,
when
to
select
a
new
committee,
how
to
communicate
with
large
large
MK
elders
when
a
bug
is
discovered.
These
are
just
various
things
we'll
need
to
discuss.
Given
this
model.
The
second.
F
The
independent
auditor
at
that
station
model,
so
essentially
a
independent
auditor
audits
or
an
agreement
within
that
an
Islander
is
in
place.
The
bugs
discovered
me
Oh
interacts
directly
with
that
auditor.
They
attest
to
the
validity
of
that
vulnerability,
sign
off
on
it,
ensure
that
the
fix
is
fixes
what
needs
to
be
fixed,
and
then
we
use
the
dark
spell
in
this
situation
and
similar
to
the
previous
model.
A
number
of
people
with
knowledge
of
this
bug
is
kept
quite
minimum
in
this.
F
This
also
introduces
advantage
where
the
community
has
input
on
how
this
is
selected.
It's
not
just
in
care
holders
large
in
care
orders
influencing
the
decision
disadvantages
along
the
same
lines.
It's
quite
centralized,
but
there's
governance
oversight,
there's
cost
associated
with
having
agreement
in
place,
not
really
understand,
not
really
know
the
specifics,
but
the
cost
to
provide
a
certain
level
of
service
response
time.
Things
like
that
again.
Implementation
details
would
like
the
community
to
weigh
in
on
the
relationship
die
a
relationship.
F
What
we
want
from
the
auditor,
how
to
selected
there's
criteria
and
there's
also
some
more
flexibility
of
design
process.
Here,
for
example,
we
have
a
existing
set
of
existing
independent
auditor,
but
then,
when
a
bug
is
discovered,
the
community
can
choose
a
second
to
sort
of
validate
alongside
the
existing
list
of
our
auditor,
as
it
means
to
prevent.
You
know
a
like
bribery
or
just
act
as
like
check,
and
the
third
is
community
appointed
trusted
party
model,
which
is
a
little
different.
F
The
fashioning
of
the
button
that
goes
like
the
appointed
trusted
party
model
to
test,
do
it
and
then
once
the
agreement
is
there
that
the
community
appointed
a
trusted
party
feels
that
this
is
a
vulnerability,
and
you
see
patched
and
it's
critical,
then
the
dark
spell
would
be
used.
This
is
this
could
take
longer
than
normal.
If
you
know
you
could
get
mired
in
some
debate
on
what
to
do
and
then
the
bugs
just
existing
so
there's
some
things
to
consider
with
this
model
as
well.
F
Those
are
the
three
models
we
we're
not
necessarily
confined
to
just
one.
If
there's
things
we
like
about
how
there's
you
can
have
introduced
like
another
model,
is
a
backstop.
The
goal
is
to
understand
the
community's
preferred
solution
which
I'd
like
to
do
through
simulating
on
the
forums
and
then
once
we
have
an
idea
of
the
model
that
is
I,
guess
I
would
say
the
most
salient.
We
can
iterate
and
further
optimize
that
solution
and
try
it
in
a
document
and
create
a
policy
around
it.
So
we
have
a
process
to
follow
them.
F
Should
a
book
be
discovered,
so
this
is
the
last
slide
here.
I
like
to
begin
discussion
on
these
methods.
I
would
like
to
understand
what
the
greedy
thinks
of
these,
what
they
do
and
don't
like,
and
we
can
start
assembling
this
document,
putting
the
other
things
that
community
was
most
important
and
then
on
the
medium
to
long
term,
actually
formalized
this
and
am
it
I,
don't
see
this
is
happening
in
the
short
term.
This
is
something
we
need
to
think
about
on
the
medium
to
long
term.
So
that's
that's.
F
A
F
C
B
A
Yeah
I
agree
that
there's
it's
always
an
extremely
difficult
to
try
and
figure
out
how
important
something
is
what
it
originally
is
on
on
an
unknown
yeah,
but
particularly
as
the
community
begins
to
accelerate,
and
we
see
things
like
listt
as
he
shut
down
to
do.
Zero
bid
auction
compensation.
Let's
do
the
ranked
choice.
That
means
that
new
code
is
coming
into
the
system
and
traditionally
the
foundation
releases
code
once
a
year
at
most
and.
A
F
A
G
Hey,
thank
you.
Okay,
I'll,
try
to
be
brief.
There's
3.5
million
sigh
in
the
migration
contract
still
and
last
week's
executive
that
was
supposed
to
shut
down
the
bridge
from
side
to
die,
still
hasn't
passed
and
we're
gonna
have
a
new
executive
tomorrow
and
we're
two
weeks
away
from
the
proposed
date
to
shut
down
sed
and
I
just
want
to.
Let
the
community
know
that
if
I
see
the
single
collateral
shutdown
and
there
is
still
sigh
at
collateral
in
the
MCD
system,
this
will
this
can
potentially
create
unintended
consequences
right.
G
G
Since
it
is
a
special
contract,
it
does
treat
sigh
as
want
to
want
to
die
right
and
if,
if
we
still
have
a
large
amount
of
tsiyon,
the
system
after
shut
down,
then
we're
very
dependent
on
what
happens
with
the
price
of
ether
and
just
so,
it
becomes
less
than
ideal
collateral
to
have,
because
if
hopefully,
the
price
of
ether
goes
up,
then
yeah
there's
gonna
be
keepers
that
are
incentivized
to
grab
all
of
that
remaining
sigh
from
the
from
the
migration
contract.
But
it's
a
price
of
ether
stars
going
down.
G
G
And
if
we
incur
in
a
lost
and
we're
going
to
have
more
debt
auctions,
and
so
on
so
on,
that's
not
the
only
way
to
do
it,
but
it's
one
way
to
do
it.
So
I
just
want
to
put
this
forth
to
the
community
that
it.
It
is
very
important,
at
least
on
an
engineering
economic
level.
It's
pretty
important
that
the
contract
is
is
throwing
the
funds
before
we
do.
The
shutdown.
A
Thanks
for
that,
Mario
and
I
think
that
that
wasn't
pleasingly
at
what
I
was
talking
about
the
top
of
the
call
where
community
can
signal
in
tension
a
pole
can
get
presented,
but
there
are
orders
of
operations.
There's
mechanical,
there's
legal,
there's,
regulatory
there's
a
smart
contract,
there's
resourcing,
there's
all
kinds
of
issues
that
have
to
align
in
the
right
order
to
make
sure
that
these
things
are
successful.
This
sounds
like
one
of
them:
morality,
either.
Sorry
I
might
have
drifted.
Maybe
I
missed
the
point.
I
don't
know,
but
so
what
do
you
think?
A
G
I
I,
don't
know
if
it's
my
my
place,
it's
a
foundation
and
please
deal
to
say,
hey
thing,
I
think
it's
more
of
just
like
saying
what
I
think
is
going
on
with
the
system
and
people
making
their
own
decisions.
One
thing
we
may
have
done
wrong
is
packing.
That
particular
spell.
You
know
mixed
with
some
other
risk
parameters.
Maybe
people
do
want
to
shut
down
the
the
migration
contract,
but
they
didn't
want
to
reduce
the
stability
fee
in
u.s.
G
G
How
to
do
this?
I
just
want
to
stress
the
fact
that
the
migration
contract
should
be
drained
before
and
yeah
I
can
I
can
provide
a
couple
of
different
solutions,
but
the
one
that
has
been
provided
so
far
is
that
this
is
voting
on
on
stopping
the
this
side
to
die
bridge.
This
only
stops,
you
know
sigh
drawing
die
with
sigh,
it
doesn't
stop
CDP's
from
migrating
and
it
doesn't
stop
the
bridge
on
the
other
way.
So
going
back
from
dying,
sigh.
D
A
Also
getting
a
bunch
of
other
a
hot
topic
or
hot-button
issues.
For
me,
one
of
those
is
is
obviously
the
bundling
issue
and
as
keeps
not
like
I'm
broken
record
at
this
point,
but
as
the
complexity
of
the
ecosystem
is
the
number
of
proposals
increases,
as
the
engagement
from
the
community
accelerates,
we're
going
to
have
more
and
more
potentially
disparate
or
contentious,
or
not
complementary
proposals
getting
bundled
up
into
single
executives,
and
we
really
need
to
at
some
point.
We
really
need
to
address
this
issue
head-on.
A
How
do
we,
how
do
we
handle
a
significant
number
of
decisions
on
a
weekly
basis?
Turning
this
into
an
all-or-nothing
type
operations?
Alright,
let's
leave
it
there,
because
I
am
unwilling
to
present
strong
opinions
and
or
answers
right.
Let's
leave
through
the
cumulative
all
right,
yeah,
Lanka,
listen!
Won't
you
do
what.
A
A
So
yeah
that
feels
like
a
bit
of
a
nut
sack
whatever
yeah
I
think
that's
generally
the
idea,
but
one
of
the
things
that
I
once
I,
actually
I'm,
going
to
put
the
spotlight
on
Mariano
again
next
week,
because
there's
or
Derek
somebody's
pushing
somebody
under
the
bus
here,
but
there's
a
significant
number
of
things
that
need
to
happen
in
a
specific
order
for
shutdown
to
happen.
There's
no
big
red
button
that
we
break
the
glass
and
then
that's
the
end
of
a
CD
like.
A
Oh,
maybe
there
is,
but
that
might
be
disastrous,
so
there's
risk
it
needs
to
be
involved
with
some
decisions
or
like
at
least
modeling
up
some
up
some
options
here.
Smart
contracts
teams
need
to
have
things
in
place.
Potentially
ecosystem
actors
need
to
be
on
board,
so
the
integrations
teams
need
to
be
able
to
reach
out
to
people.
There's
stakeholders
in
the
community
like
there's
large
CDP
donors,
that
potentially
should
be
involved
with
this
process
too.
A
There's
communication
aspects-
this
needs
to
be
broadly
in
DC-
needs
to
be
broadcast
over
to
the
defy
ecosystem
that
you
know
this.
This
thing
is
going
away
so
be
prepared,
so
there's
all
kinds
of
things
that
need
to
happen.
So
we
picked
a
date.
That
was
the
easiest
part.
You
know
we
need
to
figure
out
how
and
who
and
when.
A
It's
not
it's
not
as
simple,
so
we
need
to
start
thinking
about
this,
identifying
stakeholders
and
figuring
out
what
the
feasibility
looks
like
for
this
kind
of
stuff.
Hopefully
you
can
dig
into
it
again
in
depth
next
week,
as
the
data
is
getting
dangerously
close
all
right,
so
thank
you.
Mariano
make
them
in
you
have
some
projects
they
have
a
project
undergo.
Well,
let's
talk
about
one
of
them
I.
Can
you
give
us
a
a
brief
overview
of
what's
going
on
with.
D
But
we
have
our
face,
put
up
maker
auctions,
I/o
site
and
he
did
work
that
started
it
and
then
I
asked
him
for
CSV
and
he
promptly
provided
it
so
I
kind
of
have
a
whole
side
of
the
auctions.
So
I
can
run
this.
Look
at
these
scenarios.
What
happened
and
and
so
I
can
use
that
data
also
to
deal
with
figuring
out
if
we
decide
to
compensate
people.
What
that
looks
like
and
the
data
itself
is
very
interesting.
I
just
got
my
hands
on
it.
D
D
What
they
do
you
need
and
try
to
I'm
going
after
that
right
now,
when
I
finally
have
two
different
sets
of
data
and
I
have
weight
rabbits
data,
which
is
a
subset
within
it,
and
so
I
should
be
able
to
just
run
and
match
all
this
stuff
up
and
if
I'm
lucky
with
all
the
data
I
have
I,
have
a
vault
number
I
can
look
at
what
happened
to
them.
So
I
can
do
this
by
vaults,
but
it's
gonna
take
some
time
and
I'm
doing
lots
of
other
things
too.
D
So
there's
stuff
I
might
want
like
I'm,
really
looking
for
minute
lis
data
on
the
USD
I
think
I
have
an
awesome.
Handle
like
I
would
saw
in
a
number
of
the
OSM's
that
go
with
the
with
that
CSV,
but
see
if
Bob
base
can
provide
it.
My
hope
is:
I.
Don't
have
a
report,
certainly
for
the
zero
bid
auctions
pretty
soon
but
kind
of
a
general
liquidation
report.
I
don't
but
yeah
I
have
data.
So
that's
the
upshot
on
I.
A
Think
she's,
that
recap
yeah
I,
did
another
example
of
community
members
stepping
out
and
taking
a
doing
a
huge
lift,
which
is
very
inspiring.
If
you
think
you
can
help
make
her
man
or
you
have
access
to
that
data
or
you
do
have
tics
of
osm
prices,
I
mean
it's
a
minute
or
hour,
regardless
I
reach
out
to
maker
math
and
see
if
there's
something
you
can
do
to
help,
particularly
if
you're
a
stakeholder
or
deeply
engaged
with
the
question
of
zero
bid.
A
A
D
H
So,
just
to
touch
on
total
dice
flies
at
80
million,
interesting
things
to
note.
75
million
of
that
is
from
eath
we're
down
to
you,
know
three
hundred
and
eighty
cash
from
bat
and
about
eight
hundred
thousand
from
us,
DC,
which
you
know
it's
down
a
bit
from
its
all-time
high
and
about
3.5
million
for
the
migration
contract,
which
is
a
large
chunk.
H
H
You
know
one
to
two
cents
above
a
dollar,
as
that
eath
price
started
to
run
up
a
bit
more
in
the
last.
You
know
two
to
three
days
that
dye
price
you
know
bowed
slightly.
So
this
is
just
keeping
it's
sort
of
long-term
stays
pretty
stable,
but
in
short-term
fluctuates
kind
of
inversely
with
what
eath
is
doing,
but
I
think
the
big
thing
that
everyone's
kind
of
been
talking
about
was.
This
is
just
that
it's
consistently
the
dye
peg
is
consistently
maintaining.
H
H
The
amount
of
that
that's
been
traded
is
compared
to
three
low,
and
so,
if
we
look
at
like
in
the
last
30
days,
or
so,
you
had
380
million
diamonds
rated,
but
you
know
and
again
that
average
price
has
come
down
to
about
a
dollar
three
for
the
last
month
or
so
that's
just
kind
of
naturally,
because
there
is
more
and
more
trades
happening
at
like
a
dollar
one
in
a
dollar.
But
what
was
interesting
to
note
is
that
30
day,
volume
is
just
significantly
outpaced.
H
H
Think
the
question
that's
on
a
lot
of
people's
minds
is
sort
of
you
know,
is
the
dye
price
going
up
because
it
comes
down,
is
staying,
steady,
I,
think
by
and
large
it's
been
staying.
Steady
with,
you
know
short
short
time
scale
fluctuations,
obviously,
naturally
with
what
eath
price
does
so
what's
interesting
is
and
I
actually
haven't
shown
this
here,
but
but
it
is
interesting
to
note
when
the
correlations
between
Ethan
died
flew
so,
like
I
said
when
eath
is
crashing,
dye
is
very
well
negatively
correlated
teeth
when
eath
is
rising.
H
You
actually
tend
to
like
when
it's
rising
in
a
longer
time,
scale
and
confidence
sort
of
returns.
You
see
that
correlation
actually
resume
like
more
of
a
positive
trend.
So,
in
the
short
term,
if
eath
is
going
down,
but
in
the
long
term,
people
think
it
is
going
up,
you
will
see
dye
price
actually
go
down
if,
in
the
long
run,
people
are
uncertain
about
eath
and
in
the
short
run
the
eath
price
goes
down.
H
What
we
see
is
you
know
that
I
price
going
up
and
this
kind
of
makes
sense
in
terms
of
it's
all
about
leverage.
So,
what's
really
interesting
to
note
is
there's
a
fundamental
shift,
which
was
this
kind
of
increased
confidence,
but
also
increased,
perceived
value
on
holding
dye,
which
has
led
to
this
kind
of
consistent
1
to
2
cent
buffer
on
the
dye
price,
and
that's
something
that
you
know
as
I
said.
You
know
last
week
of
the
week
before
that
I
think
is
kind
persisting,
and
we
can
talk
about
the
reasons
for
it
persisting.
H
H
So
if
people
are
sourcing
dye,
it's
not
because
they're
necessarily
minting
a
bunch
of
new
debt.
That
amount
has
been
comparatively
smaller.
It's
primarily
likely
due
to
market
making
and
desire
to
participate
in
liquidations,
and
things
like
that.
If
they
do
happen,
so
it
appears
that
sentiment
on
the
whole
dye
situation.
Right
now
is
kind
of
a
wait-and-see
and
maybe
a
little
bit
of
like
hedging
behavior.
H
So
what
we
sort
of
saw
with
the
vault
positions
was
coming
out
of
the
March
12th
crash
situation,
this
this
this
wall
and
the
smaller
one
are
two
things
to
to
watch
in
terms
of
collateral
risk.
But
essentially
these
walls
were
at
much
lower
prices
at
the
time.
So
it
makes
sense
that
these
tend
to
be
relative
to
what
the
current
eath
price
is.
H
So
if
eath
price
goes
up,
it
makes
sense
your
your
risk
barriers
move
up
as
well,
and
that
is
kind
of
a
trend
that
we've
seen
historically
over
time
with
CDs
and
bolts.
Is
that
there's
like
this
rebalancing
behavior,
where,
when
eath
price
goes
up,
commensurately
the
the
collateralization
lue,
or
rather
the
collateralization
sort
of
stay,
pretty
steady
and
the
liquidation
prices
move
so
what's
interesting?
Is
this?
Is
the
risk
portfolio
as
the
eath
price
has
come
up
recently
we
saw
an
uptick
in
this
200
to
250
category
coming
out
of
the
whole
crash
situation.
C
Yeah
I
I
was
thinking
about
that
I'm
that
unusual,
relatively
unusual
behavior
of
of
the
peg
with.
If,
if,
though,
going
up
and
actually
to
die
to
die
price
like
weighted
average,
actually
not
coming
coming
down
other
than
liquidity
and
they
used
for
the
liquidations
of
the
use
of
die
for
trading
elsewhere
and
have
you
got
any
thoughts
and
why
we
may
actually
start
to
see
that
kind
of
new
kind
of
trained.
You
sure
yeah.
H
I
mean
I,
wouldn't
I,
wouldn't
necessarily
say.
Anything
here
is
like
a
new
trend,
but
if
you
reason
about
it
like,
why
does
die
tend
to
think
about?
Why
does
die
tend
to
go
up
if
Ethan
down
well,
people
sourcing
died
to
repay
debt,
motivations,
etc?
That
makes
sense.
Why
would
I
go
down
if
eath
price
is
going
up
for
people
getting
more
bullish,
leveraging
their
positions
in
selling
buying
process?
So
what's
interesting
here
is,
though
eath
is
going
up.
C
Yeah,
it
would
make
sense,
but
in
itself
I
think
that's
kind
of
like
an
interesting
point.
They'd
have
pointed.
Potentially
we
didn't
have
that
a
lot
before
in
the
previous
cycles
of
leveraging
and
deleveraging
in
this
cycle
day
is
kind
of
like
an
expectancy
which
I
think
may
also
have
a
flow-on
effect
on
that
distribution,
graph
of
the
collage
or
collateral
ratio.
C
H
Yeah,
here's
here's
the
the
longer
run
average
graph.
So
this
is
the
the
30-day
graph.
So
what
what
you
see
here
is
pretty
damn
well
tracking
between
DIYing
eath.
Now,
what's
interesting
is
essentially
the
flippin
point
or
the
the
reversal
here
is
because
the
eath
price,
so
we
saw
like,
for
example,
eath
price
dip
slightly
on
April
first
and
then
start
increasing
April,
2nd
April
3rd.
So
on
April
1st
there
was
a
little
bit
of
a
jump
in
the
dye
peg
and
then
it
slowly
started
to
deflate
a
little.
C
Yeah
that
makes
sense
if
we're
kind
of
like
also
like
the
graph
there
on
the
each
price.
You
see
that
these
also
I'm
taking
the
velocity
of
that
I,
don't
love
that
uptick,
which
also
might
explain
why
they
might
be
a
leg
in
between
them.
Where
is
actually
the
other
ones?
When
you
go
back
to
that
graph,
you
can
see
like
around
the
2nd,
2nd
3rd
and
of
April.
C
H
H
People
may
be
more
bullish
on
taking
leverage,
but
if
it
suddenly
increases,
there
are
a
lot
of
reasons
why
that
wouldn't
necessarily
be
wouldn't
necessarily
cause
a
bunch
of
people
to
take
out
leverage
in
the
sense
that
one,
if
it's
a
sudden
jump
a
they
may
not
trust
that
it's
gonna
continue
to
increase
and
B.
They
may
have
sort
of
this
mentality
of
oh
I've
missed
the
boat
on
this
junk,
and
so
it
doesn't
make
sense
to
take
out
a
bunch
of
leverage
right
now.
H
C
A
C
Do
we
have
any
data
on
other
platforms
as
to
whether
or
not
other
platforms
that
provide
leverage
to
lever
up
on
ethos,
its
rising
or
are
enjoying
I?
Don't
know,
let's
say
growth
or
you
know
more
leverage,
I,
guess
I'm
trying
to
drill
in
on
whether
or
not
we
think
this
is
a
market
wide
trend
or
whether
or
not
there
is
a
loss
of
confidence
that
maker
protocol.
H
Yeah
so
I
mean
we
did
see,
was
you
know
in
the
last
24
hours
or
so
like
a
a
2%
ish
increase
in
the
amount
of
borrow
on
compound?
That's
I,
don't
know
that.
That's
like
a
large
enough
margin
to
be
making
conclusions
per
se,
but
yeah
I
mean
there.
There
have
been
you
know
more
loans
taken
out
as
well
on
compound
I,
don't
think
those
are
necessarily
out.
Pacing
like
there
was
a
slight
increase
in
the
amount
of
diamond
to
Dover
all
as
well
so
I.
H
Don't
know
that
those
are
those
increases
are
necessarily
like
out
of
frame
with
what's
been
happening
on
maker,
so
I,
don't
think,
there's
a
strong
case
yet
for
like
maker,
losing
market
share
to
other
platforms
or
something,
but
that
would
definitely
be
something
to
continue
to
watch
as
there's
more
activity
globally,
but
at
least
in
terms
of
died,
borrowing
and
at
least
in
terms
of
other
secondary
lending
platforms.
I,
don't
think
we're.
Yet
at
a
place
of
concluding
that,
like
they're,
seeing
a
huge
uptick
in
activity
and
Baker
is
not.
D
Actually,
I
don't
want
to
belabor
this
because,
with
the
calls
already
pre-done
alone,
if
you
can,
while
I'm
talking
with
this
Josh,
bring
up
that
long-term
chart
again
because
I,
don't
I,
don't
hear
you
talking
about
it,
but
somebody
closed
out.
Six
million,
vault
and
I
think
it's
a
vault
wasn't
a
CDP
and
that's
what
drove
the
price
to
the
peg
to
like
104
I
didn't
even
see
it
on
the
chart.
D
The
104
prints
on
:
base
I
went
to
104
five,
while
this
guy
was
just
hammering
on
the
dye
USD
C
to
get
his
liquidity
and
then
that
spread
out,
like
everybody,
was
trying
to
source
liquidity
like
we're
talking
about
in
traffic.
Somebody
posted
the
CDP
that
actually
closed
out.
It
was
a
big
number
and
he
did
it
for
about
two
hours.
Just
hammered
the
I'm
gonna
asks
and
then
put
up
a
104
bid
and
just
took
everything
that
he
could
get
anyway.
D
So
if
you
had
that
chart,
what
else
I
say
is
if
you
look
at
it
carefully,
see
these
sharp
little
dips
and
doodles
and
around
those
you
see
a
lot
of
the
liquidity.
Spikes
right.
You
see
all
these
all
the
plan
of
trades
and
it's
kind
of
hard
to
make
out
the
detail,
those
printer
trade,
you
just
see
the
bloody
spread
on
them
right,
and
so
we
can
go
back
to
the
first
thing.
I
mean
there
was
a
big
dip.
D
That
was
our
big
event,
but
if
you
go
to
that,
so
just
do
the
6000
go
back
further.
Let's
see
at
all
like
I
want
to
see
like
90
days,
ideally,
but
that
3330
spike
we
drop
down,
and
you
just
see
you
know
if
you
watch
this
on
the
markets.
Typically,
we
see
dye
sourcing
being
driven
up
when
up
price
goes
down
absolutely
right
on
that.
The
mystery
here
is:
we've
been
having
us
price
rising,
and
it's
like.
Why
is
the
peg
still
high?
D
There
was
a
last
bump
that
I
don't
even
see
on
here
that
hit
104
on
coinbase
I
mean
he
literally
had
it
been
in
there.
We
saw
it
for
a
while,
but
not
even
see
it
on
chart,
though
coinbase
104
is
that
happened.
I
see
the
103
as
I
see
all
the
activity.
I,
just
don't
see
that
104
was
actually
hit
and
I
know.
D
I
guess
is
what
I'm
saying,
but
generally
it's
like
there
isn't
a
lot
of
mystery
here,
but
what
you
see
is
a
lot
of
activity
like
when
we
did
the
first
rise
from
like
135
to
like
142,
a
lot
of
activity
that
didn't
really
move
the
peg
around
a
lot
and
it
started
it
to
downtrend
right.
We
see
the
right
trends.
I
guess
is
what
I'm
saying
generally
I
noticed
as
this
thing
was
going
up
fast.
It's
like
you,
don't
see
it
in
the
smash
of
data.
D
It's
like
overall,
the
peg
was
trending
down,
but
then
all
of
a
sudden
I,
don't
you
don't
see
the
dips
in
the
price?
There
was
a
lot
of
outlets
price
volatility
here
and
after
even
though
it
was
generally
going
up,
we
went
up
to
like
175
and
then
crashed
at
like
160
and
then
bounced
back
up
again,
while
the
sky
was
doing
his
6,000,000
liquidity
find,
and
so
there
was
a
lot
of
real
trading
action
here.
D
We
literally
6
million
out
of
80
million
outstanding
as
10%
of
available
supply
and
when
you
start
crunching
numbers
on
that,
these
kind
of
moves
are
being
driven
by
just
a
general
lack
of
liquidity
that
basically
we
get.
We
lost
a
lot
of
liquidity
in
this
event
and
a
lot
of
people
were
hurt,
so
I,
don't
I,
don't
think
we
you
know.
The
understanding
here
is
that
the
normal
activity
is
happening,
but
there's
an
underlying
driver
for
liquidity.
Which
brings
me
to
the
other
point.
The
SIA
CD
closure,
CDP
308
has
been
active
recently.
D
If
people
don't
know
this,
they
woke
up
and
they
bought
some
maker
and
but
they
haven't
moved
on
their
a
CD
closure.
You
know
and
I,
don't
know
whether
they
showed
up
in
chat.
I
was
saying
you
know:
I
have
a
really
big
loan
I'm
looking
for
side
liquidity,
where
do
I
find
it,
and
then
they
went
away
maker
boom.
If
you're
out
there
come
back
please
or
whoever
has
a
CDP.
D
Don't
know
if
you
didn't
do
that,
buy
at
trades,
I
don't
feel
for
you
too
much
I've
been
out
of
that
trade
for
a
while,
but
Genesis
generally
I
think
that's
going
on
here,
and
this
is
what
we're
seeing,
because
you
would
expect
it
during
this
huge
rise
at
the
peg
to
go
down.
It's
like
I'm
in
it
die
in
there,
I
sold
it
who's,
buying
it
and
closing
it
out,
and
then
we
had
no
long
ago
maker
going
on
the
market
and
buying
died
effectively
to
burn
it.
D
You
know
to
cover
what
we
lost
and
so
I
see
that
as
an
effective
burns,
I
think
this
whole
market
is
just
kind
of
like
dye
supply
hurting
to
some
extent,
and
it
just
can't
find
it
because
we
have
to
have
collateral
to
have
it,
and
so
that's
my
uptake
on
all
this
is
that
while
it
looks
weird-
and
we
might
not
understand
it,
I
think
we
kind
of
do
we
just
don't
know
what
to
do
about
it.
So
I'm
done
with
us.
Thank
you,
everybody
for
putting
up
with
it.
A
A
H
A
Important
things
are
happening,
big
decisions
are
getting
made
in
real
time.
So
please
don't
sleep
on
the
fact
that
things
are
going
on
and
that
your
input
is
required.
So
please
join
us
in
the
in
the
forms
and
be
heard
all
right.
Thank
you.
Everybody
I
look
for
a
lightly
edited
version
of
this
call
in
YouTube
person
below.