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From YouTube: Governance and Risk Meeting #140
Description
Introduction
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A
Hello,
everyone
and
welcome
to
the
maker,
dao
scientific
governance
and
risk
meeting
number
140
taking
place
on
thursday
may
6th
at
1700
utc.
My
name
is
wisdom.
I'm
the
governor's
facilitator
for
mcdowell.
At
the
moment,
I'm
joined
by
a
bunch
of
awesome
maker
people
and
yeah
we've
got
a
we've,
got
our
usual
sort
of
agenda
to
get
through
this
week,
updates
from
all
the
all
the
sort
of
sort
of
major
core
units
that
have
spun
up
so
far
we're
going
to
have.
A
A
So
there's
now
a
link,
although
I'll
be
a
link
in
the
agenda
for
this
meeting
going
forwards.
If
you're
someone
who
watches
this
meeting
on
youtube
or
or
when
it's
not
live,
and
you
have
questions
or
things
you
want
discussed,
please
feel
free
to
leave
them
in
that
box
and
we'll,
hopefully
get
a
chance
to
discuss
them
in
the
next
meeting
or
two.
A
A
A
So
that
was
kind
of
good,
that's
kind
of
a
big
step
forward,
especially
with
locations
2.0.
I'm
sure
protocol
engineering
will
have
it
have
some
comments
on
it
later,
as
well
so
polls
this
week,
two
polls
so
first
of
all
adding
more
volts
to
locations
2.0
framework.
This
is
kind
of
all
the
erc20
vaults
that
aren't
unicorn
lps.
B
A
A
You
can
now
there's
a
sort
of
advanced
filtering
and
search
functionality,
and
this
can
be
combined
with
the
tags
that
are
on
the
mips,
which
allows
us
to
construct
sort
of
helps
us
construct
views
basically
lists
of
mips,
basically
like
whatever
list
of
whatever
maps
that
we
want
right.
So
as
an
example,
we
can
list
accepted
technical
maps
that
have
not
yet
been
implemented,
which
can
help
protocol
engineering
kind
of
know
what
the
what's
that
sort
of
on
in
the
queue
to
work
on.
A
We
can
sort
of
set
up
a
view
that
shows
all
the
currently
active
budgets
or
proposals.
So
it
shows
the
latest
budget
from
all
the
core
units
or
like
two
declarations
to
intent-
stuff
like
that,
so
that
should
be
a
kind
of
sort
of
improvement
and
should
sort
of
help
people
find
the
things
they're.
Looking
for
on
that
site
to
do
this
generally,
that's
a
huge
thank
you
to
d-spot
and
to
pablo
for
working
on
that.
A
Eli's
been
speaking
speaking
to
snapshots
about
getting
set
up
for
kr.
So
for
those
who
are
aware,
snapshot
is
a
sort
of
voting
system,
that's
a
lot
of
other
pro
tools
use
and
then
we've
also
been
working
on
eligibility
working
on
sort
of
reorganizing
the
forum.
Slightly
again,
this
is
kind
of
a.
I
know
we've
just
changed
around
fairly
recently,
but
this
is
sort
of
an
ongoing
process
to
try
and
make
it
more
accessible
and
useful.
A
It's
kind
of
important
as
it
grows
to
not
let
it
sort
of
grow
too
much
out
of
control,
I'm
so
hoping
to
drop
those
the
next
few
days
as
well,
and
then
purely
on
a
personal
note,
and
because
a
couple
of
you
mentioned
in
the
last
few
meetings
in
a
row,
the
mkr
compensation
working
group
is
still
meeting
regularly,
still
hoping
to
have
something
else,
probably
on
the
10th.
So
next
monday,
but
not
too
much
more
to
say
about
that.
At
this
point,.
C
A
A
A
Oh
sorry,
yeah
elegant
all
right
yeah,
so
to
be
clear
that
there'll
be
there'll,
be
a
delegation
contract.
That's
set
up
like
anyone.
Well,
there'll,
be
a
delegation.
Contract
factory
that'll
be
set
up.
Anyone
can
can
set
that
up
can
can
use
that
to
set
up
a
delegate
contract
you
know,
and
they
can
do
whatever
they
want.
A
A
Delegates
get
more
visibility
if
they
need
to
like
just
try
and
standardize
some
stuff,
like
kind
of
statements
of
kind
of
intense,
like
sort
of
personal
statements
from
the
delegates,
and
set
up
kind
of
like
communications
channels
and
stuff
where,
where
the
community
can
talk
to
them,
and
they
can
talk
to
each
other
and
they
can
kind
of
clearly
communicate.
Why
they're
voicing
the
way
they're
based.
A
A
E
Hello
guys,
my
name
is
eula
and
I'll
be
doing
four
minute
glance
for
you
this
week.
So
first
up
the
dice
slippage
is
down
to
0.06
on
a
10
000
trade,
a
record
of
4.4
billion
dies
currently
in
circulation,
and
the
total
volume
locked
in
mkr
is
at
12.3
billion
dollars
onto
announcements
as
part
of
its
dissolvement.
The
maker
foundation
has
transferred
84
000
mkr
to
governance
from
the
development
fund.
E
When
it
comes
to
active
discussions,
we
have
ace
who
starts
a
conversation
on
key
performance
indicators
and
how
they
relate
to
maker
dao.
Another
one
is
with
governance:
coming
into
possession
of
a
large
amount
of
mkr
astronaut.
This
advocates
for
a
cooldown
period
before
deciding
what
the
tao
should
use
it
for,
and
the
discussion
around
black
thursday
and
potential
compensation
for
those
involved
continues
on
to
single
requests.
E
A
F
Yeah,
hey
everybody!
I'm
chris
on
the
protocol
engineering
team,
one
of
the
cybernetic
components
at
makerdale
playing
around
with
some
new
job
titles
here
so
yeah.
The
first
thing,
I'd
like
to
say,
is
psm
and
and
yeah.
Then
I'll
pick
up
where
it
long
left
off.
So
we
have
10
collateral
types
that
we're
putting
in
this
week.
F
Maybe
the
schedule
a
little
bit
so
next
week
was
scheduled
to
do
all
the
lp
tokens
and
also
it's
probably
worth
noting
that
we're
we're
right
at
the
like
block
gas
limit
for
what
we
can
do
in
one
of
these
spells
so
and
and
risk
wanted
maybe
a
little
more
time
to
think
about
stable
coins.
So
we
yanked
those
stable
coins
out
so
that
they
wouldn't
contribute
to
the
block
gas
limit
and
we
also
have
the
lp
oracle
reviews
coming
in
and
we
feel
pretty
confident
about
that
code.
F
So
we're
actually
thinking
about
flipping
next
week
to
be
the
lp
oracle
updates
for
all
of
the
lp
tokens
and
that
would
give
risk
a
little
more
time
to
do
their
assessments
on
each
one
of
the
lp
tokens
and
so
maybe
the
following
week.
We
would
do
all
of
the
lp
tokens
and
then
the
week
after
that
we
would
do
all
of
the
stable
coins.
F
So
I
know
that's
a
lot
to
sort
of
like
think
through,
without
I
don't
know,
maybe
like
a
diagram
or
whatever,
but
we're
still
a
little
up
in
the
air
about
exactly
like
what
we
want
to
deploy.
So
that's,
probably
like
four
more
weeks
of
liquidations2o
and
lp
oracle
updates
and
I
think
we're
also
doing
the
like
other
core
unit
budget
distributions.
F
In
this
coming
spell
and
yeah,
so
big
milestone
is
that
liquidations2o
is
released
for
all
of
the
f
and
well
wvtc,
so
the
our
largest
collateral
types,
which
means
I
think
we
are
mostly
out
of
the
woods
on
liquidation's
1.2
risk.
In
fact,
I
think,
we're
probably
in
a
pretty
good
situation.
Right
now,
they're
still,
we've
been
putting
a
little
work
into
the
backstop
keeper
to
make
sure
that
people
can
kind
of
run,
that
it
doesn't
take
a
lot
of
people
running
it
in
order
to
backstop
the
protocol.
F
We
know
of
one
other
keeper
group
that's
up
and
running,
and
we
observed
a
unknown
keeper
in
the
wild
that
was
using
sushi
swap
as
as
their
backstop
and
they
were
doing
the
flash
lending.
So
so,
there's
there's
quite
a
bit
of
coverage
from
the
keeper
side
and
I
think,
derek
and
the
js
team
will
probably
release
the
web3
metamask
ui
by
the
end
of
the
day.
F
So
anyone
will
be
able
to
just
you
know,
show
up
with
a
metamask
wallet
as
long
as
you
have
some
dye
in
your
wallet,
you'll
be
able
to
for
any
amount
just
participate
in
liquidation.
So
we
get
like
a
large
liquidation
wave
and
it
looks
like
there's
like
a
good
deal
to
be
had
so
so
that's
that's
currently
where
we
are
with
liquidations
2.0.
F
F
G
F
G
So
to
cut
long
story
short,
like
other
kind
of
layer,
twos
have
native
bridges
like
zk
sync,
it's
just
like
you
know
it
has
a
lots
of
dye.
Currently
it's
just
you
know
generic
bridge
and
yeah
when
when
they
are
launched,
like
you
know
generic
message
passing,
then
we
can
come
up
with
some.
You
know
better
die
more
native,
but
for
now
there
are
no
smart
contracts
on
on
the
casing
yet,
but
I
know
that's
something:
that's
planned
for
something
to
be
launched
in
the
next,
probably
60
days
that
there's
just
a
generic.
G
The
question
I
had
was
more
towards
planning
of
of
using
optimism
and
having
the
equivalent
of
almost
an
evm
home
for
doing
something
with
maker
there
other
than
just
transferring
dye
around,
and
if
zk
sync
starts
to
support,
evm
or
other
l2
components.
You
know
what
do
we
have
a
plan
for
having
homes
in
other
l2,
ebm
areas.
F
Yeah,
I
I
mean,
I
think
I
think
the
answer
is
is
broadly.
Yes,
we
haven't
like
in
depth,
looked
at
other
bridges,
we're
looking
right
now
for,
like
anything,
that's
kind
of
permissionless
that
allows
us
to
go
across
and
I
will
say
like
for
optimism
in
addition
to
just
moving
diacross,
we
actually
have
the
facility
to
send
across
like
governance.
F
Work
like
I
don't
know
what
we
would
say
like
governance
actions,
so
the
the
pos
proxy
has
the
ability
to
sort
of
send
a
message
across
the
bridge
and
then
for
that
message
to
be
executed
on
the
optimism
side,
and
so
I
think
that
you
know
that'll
allow
us
like
a
pretty
good
playground
on
optimism,
but
it
may
that
methodology,
if
we
can
we'll
try
and
like
extend
it
to
other
like
more
permissionless
bridges.
I
don't
know
if
anyone
else
wants
to
add
any
more
to
that.
So.
F
Oh,
I
should
also
mention
to
the
dow
that
I
believe
that
hiring
is
going
very
well.
We've
made
an
offer
and
had
a
candidate
accept
that
offer,
but
they
won't
start
for
a
little
while
now,
but
that
it's
a
very
you
know
we're
getting
very,
very
strong
candidates,
and
so
I
just
wanted
to
make
sure
that
everyone
all
the
am
car
holders
knew
that
that
you
know
voting
for
the
budget.
Voting
for
the
team's
budget
and
the
incentives
that
are
there
is
having
its
desired
effect.
F
A
A
H
Okay,
so
we
are
about
to
publish
proposed
parameters
for
liquidation
2.0
for
some
of
the
unilps,
and
as
chris
mentioned,
we
agreed
that
it
makes
sense
to
make
full
implementations
week
after
next,
so
we
decided
to
propose
parameters
first
for
lps
that
that
have
higher
that
exposure
and
because
the
auction
price
curve
will
be
a
bit
different.
This
time
we
decide
to
go
with
those
lps
that
will
have
similar
parameters.
So
basically
we
have
three
types
of
lps.
We
have
stabilicon
volatile
pair.
H
Then
we
have
volatile
volatile
pair
and
stable
coin
stable,
compare
so
first
we're
going
to
tackle
stabilicon,
volatile
unipairs
and
because
of
that
exposure
is
the
biggest,
and
the
idea
is
to
make
auction
price
curve
a
bit
more
flatter,
and
this
is
because
the
those
pairs
are
about
50
percent,
less
volatile
than
the
average
collateral.
That
maker
holds
we're
also
thinking
to
make
expected
duration
a
bit
longer.
H
So,
instead
of
40
minutes,
we
aim
to
have
this.
Auction
settles
settled
on
average
on
on
in
60
minutes,
and
this
is
because
flash
loan
type
auction
settlement
is
a
bit
more
complex
here
with
your
nail
piece,
because
you
need
to
make
a
few
extra
steps
and
we
aren't
quite
sure
how
many
keepers
will
have
this.
This
implementation
ready
from
the
start.
H
So
we
should
have
these
evaluations
ready
next
week,
so
we
can
onboard
them
as
soon
as
possible.
The
parameter
proposal
group
also
released
new
proposal
for
month
of
may,
which
is
pretty
light
which
changes
this
month.
So
we
propose
few
changes
to
stabilicon
vaults,
which
we
are
kind
of
disabling
or
trying
to
make
users
to
unwind
their
positions.
H
You
know,
based
on
the
state
of
the
world,
on
the
liquidity
and
all
the
input
metrics
yeah,
basically
for
for
every
collateral
that
maker
holds
potentially
will
even
deploy
a
version
where
users
will
be
able
to.
You
know
tweak
the
inputs
and
then
they
can
simulate
outputs
on
their
own
and
I
think
that's
pretty
much
it
actually
there's
one
other
thing
next
week.
H
I
think
there's
deadline
for
quarterly
adjustment,
so
I
think
it's
on
wednesday
and
we
have
a
few
new
members
on
our
team
as
well,
who
replaced
some
of
the
other
ones
who
unfortunately
couldn't
devote
much
time
and
yeah
with
these
new
resources.
We
are
specifically
dedicating
time
to
building
this
risk
web
app,
but
we
also
contacted
some
community
members
who
are
doing
some
awesome
work
with
various
maker
data
analytics,
so
we
decided
that
it
makes
sense.
They
continue
to
get
compensated
and
some
tools
are
pretty
much
risk
related.
H
H
Yeah,
it's
still
going
to
be
in
beta,
but
yeah
like
currently
all
the
links
we
shared
everything
was
in
google
sheets,
it's
yeah,
it's
not
really
user
friendly.
So
hopefully
this
will
be
now
more
interesting
to
to
see
and
to
actually
you
know
play
with
it
actually
see
what
happens
if
you
increase
that
type
of
debt
ceiling
and
so
on.
B
B
Another
report,
maybe
too
much
reports
on
the
last
one
there
is
something
that
is
interesting-
is
that
I
think
we
will
move
to
create
a
reward
asset
committee.
That
would
be
a
layer
between
the
reward
finance
team
that
provide
risk
assessments
and
then
provide
some
credible
asset
reports
and
governance
that
maybe
want
to
have
something
more
actionable
than
only
risk
assessments.
That
are
quite
long.
So
we
will
publish
some
risk
assessment
next
week.
B
On
the
legal
side,
we
worked
on
having
a
small
documentation
to
help
arnold
and
porter
to
be
up
to
date
on
what
we
do
in
maker
always
good
to
see
that
sometimes
it's
quite
complex
to
explain
some
simple
stuff
for
next
week
we
are
current.
This
week
we
are
mainly
focusing
on
trying
to
get
four
centrifuge
assets
to
be
ready
to
be
on
board
for
the
end
of
the
month,
so
having
the
risk
assessment
for
all
of
them
published
next
week.
B
Those
are
console
freight,
so
this
one
has
already
a
risk
assessment
done.
Our
portrait
credit
and
the
recesses
point
is
almost
done.
It
will
be
published
soon,
fortunate,
five,
which
is,
which
is
a
revenue
base
of
finance
and
people's
company,
which
is
farmland,
and
so
the
idea
is
to
have
a
big
batch
and
obviously,
governance
will
decide
which
one
will
be
unborn
and
which
one
which
one
will
not
last
item.
B
B
Yeah,
I
think
so
because
we
saw
that
the
maker
open
market
committee
solved
a
lot
of
issues,
because
I
remember
last
year
we
we
were
spending
a
lot
of
time
not
last
year,
but
let's
say
in
in
december
last
year
or
just
before,
we
were
spending
a
lot
of
time
on
the
forum
arguing
on
debt
ceiling,
stability
fees
and
all
that
stuff.
Now
it's
super
quiet
on
that
front,
so
we
can
focus
on
other
stuff
and
yeah.
B
So
that's
the
kind
of
whole
of
the
real-world
asset
committee,
but
maybe
more
on
reading
the
risk
assessment
and
making
scientific
strategies
of
those
and
expressing
an
opinion,
because
in
the
real
world,
finance
team,
it's
quite
difficult
to
say:
oh
this
asset
is
not
good.
You
shouldn't
invest
or
this
one
is
super
good.
Please
invest!
There
is
no
risk
at
all,
because
it's
always
balanced.
It's
always
more
difficult.
A
I
So
this
week
we
we
are.
We
continue
our
work
with
our
partners.
We
are
like
reorganizing
the
group
and
exploring
new
opportunities
in
in
other
geographies
like,
for
example,
africa.
We
want
to
focus
on
africa
more
exactly
in
nigeria
and
we
have
started
to
work
with
with
binance
because
of
their
peer-to-peer
network
to
to
expand
that
die
in
that
country
as
a
savings
currency.
It's
an
interesting
country
for
us
because
we
know
there
are
there's
no
presence
of
other
stable
coins
like
there's,
no
usdc
or
any
other
stable
con.
I
A
stable
kind
and
people
in
nigeria
really
need
a
different
currency
than
the
one
they
have.
So
we
started
with
binance
with
their
peer-to-peer
network,
but
we
are
also
starting
talking
with
other
crypto
companies
that,
after
the
crypto
band
that
they
suffer,
they
are
looking
for
alternatives
to
to
manage
the
honor
pram
of
crypto,
and
we
are
like
giving
them
options
of
things
that
we
learn,
because
in
in
some
countries
of
latin
america
happens
happen
the
same.
So
we
have
experience
on
that
we're.
I
We
also
are
talking
with
different
funds,
and
this
is
something
I
I
want
to
bring
in.
I
wanted
to
bring
in
the
to
the
community
call
because
to
the
government
school
story,
because
there
are
a
lot
of
interest
of
funds
that
want
to
open
a
vault,
but
they
want
like
some
changes
in
the
risk
parameters.
I
I
So
it's
something
that
that
I
don't
know
if
you
guys
have
been
talking
in
the
past
about
that
about
if
we
are
interested
on
having
like
a
special
and
and
custom
made
vaults,
for
these
a
huge
funds
that
would
open
like
a
billion
divot,
but
with
a
specific
parameters
and
in
latin
america,
we
are
also
like
finding
a
lot
of
a
lot
of
partners
who
are
exploring
other
side
chains
or
layer,
two
solutions
because
of
the
gas
fees.
Although
these
these
last
weeks,
the
gas
these
are
has
has
had
been
exceptionally
low.
I
They
are
exploring
binance,
smart
chain,
polygon
and
air
escape
because
they
are
in
in
latin.
So
I
I
support
completely
what
matt
said
before
we.
We
have
to
start
looking
to
other
er
to
other
chains.
Actually,
when
we
were
in
the
in
the
in
the
foundation,
we
work
with
a
lot
of
different
chains
and
we
created
we
help
them
to
like
create
it
create
on
the
creation
of
the
bridge.
I
So,
for
example,
rsk
and
clayton
are
examples
of
those
networks,
but
like
right
now
we
should
like
be
more
focused
on
that
and
it's
a
huge
opportunity
that
we
are.
I
think
we
are
not.
We
are
not
doing
something
like
more
proactive,
so
yeah
like
besides
having
die
on
finance
smart
chain,
for
example.
We
should
like
start
thinking
if
we
can
do
something
else.
I
That
sounds
like
general
updates,
but
I
want
also
to
bring
on
these
updates
and
the
and
the
governance
called
the
the
start
of
the
week
and
finally,
jen
closed
the
integration
with
bitpay.
This
is
huge
because
it's
it's
not
that
it's
not
just
that
that
die
will
be
used
to
pay
using
bitpay,
but
it
will
be
also
be
used
as
a
settlement.
Currency.
F
A
A
J
J
Hey
yeah,
so
I
could
just
elaborate
on
the
bit
paid
deal.
So
obviously
this
is
really
exciting.
For
us,
it's
been
a
long
time
in
the
making,
and
you
know
what
that
immediately
provides
die
is
access
to
all
of
the
merchants
on
bitpays
network,
so
these
are
big
ones
like
microsoft
and
twitch,
and
american
red
cross
and
newegg
even
private
jets.
It's
a
company
which
their
cmo
actually
told
me
is
one
of
their
higher
volume
merchants.
J
As
of
late-
and
I
guess
a
lot
of
people
who,
who
are
you
know
doing
well
in
this
full
cycle-
are
riding
around
more
often
on
private
jets.
So
now,
if
anybody
wants
to
book
a
jet
with
their
guy,
they
may
do
so
through
bitpay.
They
also
have
a
gift
card
network
within
their
app.
So
all
you
know
a
lot
of
major
brands
that
you
can
think
of.
You
can
easily
make
purchases
with
the
die.
J
They
also
do
settlements
in
cryptocurrency
within
over
200
com
countries,
which
is
really
exciting,
and
so
with
that
they
also
have
a
service
where
you
can
do
invoicing
so
thinking
about
paying
clients,
even
if
you're,
not
a
merchant,
but
setting
up
an
account
with
bitpay
and
you
know
doing
payroll
or
some
other
type
of
cross-border
payment
through
their
dashboard
as
possible
with
the
die
and
they
they
recently
launched
a
visa
debit
card
which
allows
you
to
make
purchases
with
any
of
the
crypto
that
they
support,
including
die.
So
it's
really
exciting.
J
This
gives
us
an
opportunity
to.
You
know
work
more
closely
with
some
of
these
big
merchants
that
they
have
like
twitch
and
think
about
cool
co-promotion
opportunities,
as
as
we
figure
out,
you
know
what
we
want
to
do
from
a
marketing
standpoint
in
the
next
couple
months.
So
yeah
we're
really
excited,
and
you
know,
look
forward
to
being
able
to
actually
use
some
of
these
services
as
a
die
holder.
I
I
Okay:
okay,
thank
you
again.
Well.
That
was
so
much
better
that
you
can
like
tell
us
about
this
integration
and
well
some
admin
stuff.
We
are
looking
for
someone
in
europe
to
join
our
team.
So
if
you
know
someone
of,
if
you
are
interested
in
being
part
of
the
team,
send
me
a
message
we
are
also
are
in
the
process
of
incorporation
of
incorporating
our
company,
because
that's
that's
like
a
very,
very
important
part
of
what
we
do,
because
we
usually
we
have
to
sign
agreements
with
partners.
I
So
we
need
like
a
legal
entity
to
back
up
those
agreements.
So
we
are
on
that.
I
hope
that
at
the
end
of
the
month,
we
we
have
finally
or
everything
said
set
up
and
also
we
are
reorganizing.
Our
crm
and
this
week
had
has
been
awesome
because
we
told
with
the
the
real
world
assets
cord
unit
and
also
the
content
community,
and
we
are
trying
to
include
them
into
our
process
and
also
into
our
crm.
So
we
can
like
understand
what
other
teams
are
doing
and
collaborate
with
between
career
units.
A
A
I
A
D
A
D
In
the
chat
here
I
have
airpods
too.
So
if
I
get
cut
out,
please
let
me
know
so
a
bit
of
a
slower
week
in
terms
of
stuff
that
projects
we're
working
on
operational
support,
we're
kind
of
wrapping
those
things
up.
I
wanted
to
point
out
that
the
know
your
mip
with
direct
deposit
module,
the
recording,
is
up
so
feel
free
to
check
it
out.
There's
no
know
your
mip
or
collateral
onboarding
calls
coming
up.
I
mainly
wanted
to
focus
on
the
core
units
update.
D
I
know
that
there's
been
a
lot
of
things
happening
and
just
to
kind
of
summarize
it's
a
really
interesting
moment,
because
we're
kind
of
slowing
down
in
terms
of
the
amount
of
new
proposals
that
are
coming
in
so
I
kind
of
like
to
think
of
these
in
little
ways.
So
the
first
wave
was
risk
governance
and
real
world
finance
and
those
have
been
complete.
They've
received
budget
they're
growing.
D
So
it's
kind
of
the
pace
of
the
proposals
also
tell
us
a
little
something
and
when
I
think
of
organizational
design.
So
while
that's
all
happening,
I
think
a
lot
of
people
kind
of
see
it
going
through
and
being
discussed.
But
when
I
look
at
how
the
core
units
are
working
together
and
what
people
are
thinking
about
in
terms
of
core
units,
a
few
kind
of
interesting
questions
and
comments
came
up.
D
One
of
them
are
actually
around
like
different
principles,
so
I
noticed
that
some
core
units
have
sort
of
their
vision
of
what
they
think
makers
should
do
or
where
they
should
go
and
how
like
makers,
should
kind
of
approach
it
and
then
another
core
unit
kind
of.
Has
it's
not
a
conflict
as
much
as
it
is
kind
of
just
different
principles
or
different
ways
to
get
there.
D
So
that's
kind
of
bubbling
in
this
slow
slow
case,
but
it's
been
really
interesting
to
kind
of
watch
like
what
are
those
things
and
how
are
they
being
resolved?
If
not
like
does
is
this
something?
We
really
need
to
kind
of
keep
a
close
eye
on
or
if
it's
something
that's
going
to
resolve
itself.
I
think
one
of
the
things
I
learned
is
sometimes
like.
As
long
as
we
all
have
the
same
end
goal,
it
usually
gets
resolved
on
its
own,
and
so
some
people
like
me
like
to
worry
and
and
think
like.
D
D
D
So
if
it's
a
team
that
is
requesting
x
amount
and
they
want
to
use
that
fund
to
yield
farm
or
something
to
create
a
bigger
treasury,
would
that
be
possible?
Would
we
allow
that
what
would
happen
there?
What
are
the
conflicts?
That
was
really
interesting,
because
I
don't
think
that
anyone
has
really.
You
know
said
they're
going
to
do
that,
but
we
might
have
a
case
like
that
and
then
the
last
one
was
around.
This
is
a
much
smaller
one.
This
is
just
from
my
experience
talking
to
individuals.
D
So
a
lot
of
people
have
also
asked
me,
okay.
Well,
what
if
I
want
to
contribute
smaller
leaner
pieces
that
are
not
necessarily
core
unit
worthy
but
are
important
and
don't
fit
into
the
existing
core
units?
What
should
we
do
there?
So
those
have
been
what's
going
on.
The
only
one
I
also
want
to
really
point
out
is
that
we
now
have
weekly
office
hours
with
some
of
the
core
units
that
are
participating,
which
is
governance,
protocol
engineering,
content,
production
and
growth.
D
A
A
Like
obviously
no
pressure,
if
you
don't
want
to
that's
fine,
but
I
think
it
can
be
really
valuable
to
help
keep
kind
of
help,
keep
channels
of
communications
open
between,
like
corey
members
and
governance,
more
widely
right,
it's
kind
of
easy
to
to
fall
into
the
trap
of
like
like
especially
when
you're
in
a
unit
or
you're
in
like
the
in-group
right.
It's
really
hard
to
it's
really
easy
to
fall
into
the
trap
of
feeling
like
oh
yeah,
everyone
has
all
the
information
like
everyone's
has
like
this
access.
A
Everyone
has
the
same
understanding.
I
do
so
it's
kind
of
good
always
good
to
keep
channels
of
communications
open
between
those
that
are
sort
of
more
close
to
the
protocol
and
those
that
are
maybe
not
not.
Quite
so
close
so
tldr,
I
think,
that's
very
positive
and
to
that
we
have
more
core
units
adopting
that
model.
K
K
K
The
next
one
is
a
pretty
exciting
one
mip
51
the
monthly
governance
cycle,
so
this
defines
a
new
monthly
governance
cycle
that
provides
a
more
efficient
and
accessible
framework
for
maker
governance
decisions,
and
the
really
cool
thing
about
this
is
that
it
reduces
the
amount
of
votes
that
happen
over
the
course
of
the
month.
So
as
of
now,
we
have
inclusion
polls,
a
governance
poll
and
an
executive.
K
K
A
K
A
Yeah
just
to
confirm
which
I
said
all
those
proposals
that
listed
will
move
to
inclusion
poll
this
week.
Sorry
next
monday,
as
before,
we'll
kind
of
bundle,
the
core
unit
proposals
into
one
poll
so
we'll
have
to
we'll
bundle
each
of
the
three
separately
and
so
they're
important.
If
that
makes
sense,
so
the
scs
will
have
a
pollen
strategy
comes
with
their
involved.
A
I
know
some
community
members
sort
of
felt
strongly
about
some
of
the
proposals
coming
through
coming
through
this
month.
So
if
you're
one
of
those
people-
or
I
guess
you
or
if
you
haven't
kind
of
noticed
this
kind
of
check
out
the
forum
threads
for
those
proposals
and
yeah,
if
you're
one
of
the
people
concerned,
I
guess
start
raising
awareness
and
and
yeah
spreading.
The
word.
A
B
B
A
C
A
A
So,
okay
cool,
so
we'll
briefly
go
into,
I
guess
kind
of
qa
mode.
So
I
mentioned
earlier
the
anonymous
question
box,
so
we
kind
of
publicized
this
last
week,
just
after
I
think
it
was
just
after
the
last
meeting
peyton
set
it
up.
Peyton
have
we
had
any?
I
guess
anonymous,
questions
or
suggestions
from
the
box.
Yet.
G
Oh,
I
don't
need
to
share
it.
Sorry,
I
just
wanted
to
be
able
to
read
it.
Their
suggestion
was
titled
cut
down
the
core
units
presenting
during
the
gnr
call
I'll,
go
ahead
and
read
it
out
because
nothing
weird
in
there,
since
this
is
a
governance
and
risk
call.
Please
only
allow
governance,
actors,
sc
team
risk,
mip
editors
and
oracle's
teams
to
make
their
presentation
to
the
community
on
thursdays.
G
Core
units
like
real
world
assets,
os
and
growth
can
do
a
meeting
every
other
friday
titled
the
real
world
assets,
os
and
growth
bi-weekly
call.
The
community
will
get
more
out
of
discussions
pertaining
only
to
governance
and
risk
yeah.
So
obviously
we
we
just
put
that
up.
We
talked
about
that
kind
of
briefly
during
the
last
meeting,
but
also
happy
to
entertain
some
discussion
here.
The
only
other
suggestion
was
asking
for
six
million
dollars,
so
don't
really
need
to
go
into
that,
not
not
related
to
core
units
or
anything.
Sorry.
A
Yeah
so
yeah
we've
kind
of
been
thinking
about
this.
This
issue
a
little
bit
previously
as
well
as
that's
been
said
right.
The
one
thing
I'm
a
little
worried
about
with
multiple
meetings
is
sort
of
where
you
draw
the
line
between
cutting
off
people
from
the
thursday
meeting
and
pushing
them
to
the
auxiliary
meeting
or
whatever,
like
the
justification,
that's
kind
of
just
governance
and
risk
seems
a
bit
flimsy,
considering
like
you're,
like
the
suggestion
was,
including
like
smart
contracts
and
articles.
A
A
C
Guess
I
personally
really
like
this
meeting
as
like
a
weekly
town
hall
for
all
the
core
units
and
stuff.
So,
like
you
know
it's
governance
and
risk.
Yes,
but
part
of
governance
is
having
a
weekly
update
and
a
place
where
you
can
de-silo.
You
know
information
sharing
and
I
think
that
having
all
the
core
units
have
a
voice
on
a
single
call.
Every
week
is
an
important
kind
of
backbone
that
we
should
preserve
at
maker.
C
G
Yeah,
I
want
to
jump
in
there
and
say
that
you
know
like
if
we
put
another
meeting
on
the
calendar,
that's
like
another
hour
a
week
that
the
rest
of
us
like
will
break
off
and
and
not
be
writing
code
and
stuff
like
that.
So
it
is
kind
of
nice,
maybe
maybe
the
maybe.
The
solution
is
to
change
the
name
of
it.
G
If
that's
the
problem
to
you
know
weekly
town
hall,
because
it
is
kind
of
nice
to
just
have
this
this
one
meeting
where
we
get
the
whole
whole
goings
on,
because
I
mean
even
even
on
the
protocol
engineering
team,
we
are
in
the
middle
of
the
system,
but
we
we
don't
keep
track
of
everything.
That's
going
on,
because
we're
heads
down.
C
Generally
also,
I
think
that
if
people
are
interested
in
more
in-depth
information
about
specific
core
units
or
specific
things
like
risk
or
specific
governance
decisions
or
specific
engineering
details
and
problems,
there
should
be
those
office
hour
calls
that's
number
one
and
then
number
two.
I
think
that
teams
should
be
proactive
about
like
documentation
and
sharing
and
sharing
certain
things
that
you
know
would
be
interesting
to
stakeholders.
C
Yeah-
well
I
just
second
here
this.
I
don't
know
if
this
needs
to
be
done
once
a
week,
maybe
just
every
two
weeks
is
fine
enough,
but
just
having
a
five
minute
sum
up
of
what
I've
been
doing.
What
are
we
doing
in
the
next
two
weeks
or
what
are
we
focusing
on
anything
something
exciting
it
doesn't
need
to
take
long.
C
I
think
like
chris
is
doing
it
for
smart
contacts
is
for
me
personally
exactly
the
the
right
amount
of
information,
and
I
I
totally
don't
like
the
idea
of
just
having
an
update
on
governance
and
risk.
There
are
so
many
parts
relevant
to
what
we
are
achieving
here
or
what
we
are
trying
to
achieve.
It's
not
only
about.
C
G
I
think
this
mixed
with
a
combination
of
office
hours
within
the
specific
domains
provides
a
great
opportunity
for
people
to
be
able
to
ask
questions
specifically
after
this
conference
call
mixed
with
having
a
summarized
setting
and
we're
going
to
find
ourselves
in
a
year
with
10
times
the
content,
but
we're
still
going
to
need
to
find
a
way
to
break
off
those
office.
Hours
are
going
to
be
essential
in
my
view,
but
this
summary
package
is
a
great
way
to
deliver
the
content
in
an
hour
hour
and
a
half.
A
Okay,
I'm
seeing
a
lot
of
hearing
a
lot
of
positive
sentiments
which
is
which
is
cool
or
is
it
sometimes
easier
to
share
positive
sentiment
that
is
negative,
and
so,
if
anybody
does,
I
think
otherwise,
please
feel
free
to
get
in
touch
with
me
privately
as
well.
It
does
sound
like
changing.
The
name
is
a
thing
some
several
people
have
suggested.
B
B
B
I
mean
everything
is
unchanged,
so
I
think
the
best
thing
I
can
do
for
the
dao
is
to
share
it
as
soon
as
possible,
starting
by
the
obviously
the
speculation
channel,
because
why
not
it's
there
that
all
the
alpha
is?
But
if
you
think
that
they
should
share
it
first
on
governance
and
call
a
governance
channel
or
in
the
forum,
let
me
know
santa
monica
results.
Everything
is
good:
the
net
income
we
have
crossed
the
10
million
mark
for
both
the
net
income
and
the
required
income.
B
So
I
just
remember
the
requiring
income,
just
the
net
interest
income
and
the
workforce
expenses.
We
don't
take
in
account
the
psm,
which
is
a
natural
income
and
the
net
regulation
incomes,
which
is
a
regulation,
because
we
expect
that
calculation
will
stop
with
in
the
future.
Maybe
so
that's
due
to
the
fact
that
net
net
interest
income
grew
a
lot
by
27
percent.
B
B
Let's
go
to
the
details
of
the
business
line,
so
the
income
statement,
which
is
the
biggest
one,
the
lending.
Oh,
no,
sorry.
This
is
the
net
income
by
business
lines.
So
we
see
that
over
time
our
net
interest
income
grew
a
lot.
The
psm
is
not
that
much
and
liquidation
income
came
comes.
Sometimes
some
months
are
good
for
liquidation
and
sometimes
nothing
not
much
happen
on
the
lending
business,
not
not
much
to
say,
although
the
average
yield
is
a
bit
lower
than
last
month,
the
previous
month.
B
B
B
B
B
And
now
the
inventory
of
stable
coin
is
up
to
1
billion,
due
to
the
significant
increase
in
pacs
as
well.
We
have
no
100
million
packs
token,
but
that
was
a
mainly
one.
Volt
user
and
and
the
parks
of
vault
is
not
generating
any
fees.
So
that's
why
the
the
rate
working
groups
make
our
open
market
committee
will
will
prob.
We
had
made
the
decision,
the
proposal
to
decrease
the
debt
seeing
of
packs
on
the
liquidation
front.
We
made
a
lot
of
money
because
there
was
one
big
be
vault
that
was
decorated.
B
It
was
a
quite
a
stressful
day
for
some
people
for
other
or
not,
and
at
the
end
of
the
day
we
burn
a
lot
of
mkr,
so
that
was
all
great
for
the
balance
sheet
side.
Just
to
give
you
an
overview,
so
we
have
we
had
this
at
the
time
of
the
last
month
we
were
close
to
4
million.
Obviously,
now
we
are
above
4
million
and
we
we
have
a
20
27
liquidity
reserves.
B
Last
month
it
was
a
trading
trading
assets.
I
change
it
to
liquidity
results,
because
that
gives
you
the
amount
of
stable
coin.
We
have
to
sustain
a
decreased
demand
of
die,
so
even
if
27
percent
of
the
die
want
to
change
from
dye
to
usdc
packs
or
whatever
the
price
of
die
will
remain
the
same
more
or
less,
because
some
are
the
stable
converter,
but
it
should
be.
It
should
remain
stable.
B
Staying
on
the
cyber
stable
coin
market,
this
is
a
graph
that
shows
the
usage
of
stable
coin
only
on
chain
only
on
l1
ethereum,
but
you
can
see
that
there
was
a
still
grow
on
all
stablecoin
and
mainly
on
busd,
so
graph
below
is
the
market
share.
So
busd
is
continuing
to
to
win
market
share
over
usdt,
so
I
think
mainly
because
obviously
binance
is
the
first
exchange
and
there
were.
There
was
a
lot
of
usd
usage
on
finance.
But
now
it's
going
to
be
usd
usdc
and
die
remains
constant,
more
or
less.
B
B
B
B
Survey,
this
is
a
risk
voted
assets,
so
we
are
above
one
percent.
This
is
the
risk
of
the
protocol
and
on
the
leverage
ratio,
which
is
invited
assets,
we
are
still
still
growing
as
well,
so
we
increased
the
surplus
buffer
more
than
the
increase
of
the
risk
of
the
protocol,
so
that
was
that
was
good
for
the
protocol
as
a
wall.
B
B
B
Okay,
no
problem
and
the
last
slide
is
on
the
liquidity
pool,
so
we
had
quite
an
increase
in
april
on
the
liquidity
pool.
So
all
the
ini
swap
related
pools,
so
they
were
limited
to
3
billion
3
million
each
until
the
beginning
of
april,
but
from
there
there
was
an
increase
in
the
asset
under
management,
so
that's
obviously
generating
a
lot
more
fees
with
unisop
v3.
Maybe
that
will
change.
We
will
see
in
the
coming
days.
B
A
B
For
instance,
we
can
track
what
is
the
balance
of
die
and
usdc
and
all
the
stable
coin
at
each
each
excellent.
Each
exercise?
Sorry
so
that
can
bring
some
knowledge,
maybe
tracking
some
exchanges
in
some
specific
markets,
because
obviously
finance
is
worldwide,
but
some
exchanges
are
mainly
in
asia.
Some
exchanges
are
mainly
in
latin,
so
maybe
we
can
track
where
dye
is
getting
more
traction,
but
this.
B
A
Yeah
excellent
also
kind
of
curious,
but
maybe
make
more
sense
to
kind
of
focus
on
some
specific
protocols
as
well
like,
for
example,
like.
Obviously
all
a
lot
of
the
stable
coins
are
used
in
unisop
in
trades
like
would
it
worth
be,
comparing
it
would
be
worth
comparing
the
unit
trade
volume,
I
guess
on
like
diet
versus
uscc
versus
usda.
B
B
You
can
predict
that
the
diet
demand
will
decrease
significantly
and
we
have
a
lot
of
dye
on
compound
and
initial
bit
through.
So
this
might
be
important
for
the
protocol,
because
if
we
have
one
billion
of
dye
you
used
in
uniswap
v2
and
the
compound-
which
I
think
is
the
case
and
then
all
the
transfer,
all
the
swap
are
going
through
unisrap
v3,
but
if
they
need
only,
I
don't
know,
100
billion
have
died
to
do
the
same
slippage.
B
So
if
this
capital
is
no
longer
needed
and
people
stop
farming,
maybe
they
will
just
repay
the
loan
and
the
diet,
demand
will
decrease
and
we
will
make
more
less
fees
and
one
obviously
one
million
one
billion
when
you
have
only
three
million
of
loan
on
standing.
It's
quite
a
lot
so
that
might
be
an
issue,
but
I
don't
know
yet-
and
I'm
not
planning
time
these
months
to
work
on
that.
B
B
G
L
To
comment
on
your
point
around
that
the
extra
liquidity
there
I've
seen
some
some
reports
that
are
actually
done
by
young
by
some
of
actually
the
analytics
and
analytics
things
up
there
around
around
how
they
actually
kind
of
like
predicting
predicting
future
evaluations
from
a
whole
bunch
of
actual
cache
file.
That
is
actually
accumulating
from
a
crypto
from
usb
for
all
the
other
stable
coins,
essentially,
and-
and
they
have
done
actually
some
back
testing
on
the
previous
modern
previous
moments
in
in
the
market
when
when
actually
cash
files
had
accumulated.
L
L
And
the
other
and
the
other
points
that
the
point
there
is
whether
we
want
also
to
potentially
keep
track
of.
What's
going
on
and
finance
matching,
because
there's
a
lot
of
forks
for
four
different
projects
of
the
years.
They
should
be
a
publishing
kind
of
grunts
every
week
for
for
products
to
go
off
and
actually
kind
of.
L
Yeah,
I
think,
a
lot
of
people.
I
ignored
myself
for
a
long
time
and
then
I
started
having
like
you
know,
people
from
my
family
that
didn't
they
weren't
involved
at
all
in
crypto
at
all,
saying,
hey,
I'm
doing
such
and
such
fun
finances
say
what
what
where
are
you
coming
in?
Where
are
you
coming
from?
It's
like.
You
didn't
even
know
about
a
team
like
what
a
month
ago,
so
what's
going
on
so.
B
L
Kind
of
like
taking
that
place,
the
eos
was
supposed
to
be
the
ethereum
community
a
few
a
few
years
ago
and
never
realized.
So
it's
kind
of
like
too
much
like
a
lot
of
what
a
lot
of
water
under
the
bridge
actually
has
passed
since
then,
and
now
this
election
is
doing
exactly
the
same
thing,
but
will
not
be
incompatible
so.
A
A
I
guess
I'll
just
once
again
plug
the
anonymous
question
box.
There's
a
link
to
it
in
the
agenda
for
this
meeting
find
that
on
the
make
a
governance
forum.
If
you
do
listen
to
this
meeting
on
youtube
or
record,
it
in
some
form
feel
free
to
leave
her
leave
a
comment
and
we'll
we'll
try
to
get
to
it
in
the
next
meeting.
F
Yeah
I'll
add
at
the
very
end
you
spend
most
of
the
call
having
a
heart
attack,
because
the
total
value
locked
on
d5
pulse
dropped,
but
I
think
I've
figured
out
what
their
bug
is.
So
I'm
talking
with
them
now,
but
if
you
guys
just
happen
to
check
the
total
value
locked
on
d5
pulse,
don't
yourselves
have
a
heart
attack.