►
From YouTube: Governance and Risk Meeting | Ep 148
Description
Agenda:
https://forum.makerdao.com/t/agenda-discussion-scientific-governance-and-risk-148-thursday-july-1-17-00-utc/9036
Governance - @GovAlpha-Core-Unit
Protocol Engineering - @Protocol-Engineering
Oracles - @Oracles-Core-Unit
Risk - @Risk-Core-Unit
Real World Finance - @Real-World-Finance
Growth - @Growth-Core-Unit
Sustainable Ecosystem Scaling - @SES-Core-Unit
MIPs - @MIP-Editors
Discussions and General Q&A:
Delegation
*Disclaimer: These calls and the summaries are produced and hosted by MakerDAO community members. Content produced by the community are not the statements or views of the Maker Foundation.*
A
Hello,
everyone
and
welcome
to
the
make
it
out
scientific
governance
and
risk
meeting
number
148
taking
place
on
thursday
july
1st
at
1700
utc.
My
name
is
donka
wisdom.
I
am
one
of
the
government's
facilitators
at
maker,
dao
yeah,
I'm
sharing
this
meeting
today,
I'm
joined
as
usual
by
a
bunch
of
awesome
maker
people
and
as
usual,
we
have
our
agenda
to
get
through
some
updates
from
the
the
usual
suspects.
A
A
Cool,
so
with
that,
out
of
the
way,
we'll
dive
into
our
weekly
updates
and
I'll
start
with
an
update
on
governance,
so
we
had
so
first
of
all,
the
executive
from
two
weeks
ago
is
still
not
quite
fast
there.
I
believe
it
needs
500
mkr
at
advanced,
currently
so
getting
pretty
close,
but
but
yeah
not
quite
not
quite
enough
yet
so
with
anything
like
that
will
pass
either
today
or
tomorrow,
and
then
we'll
be
sort
of
all
clear
for
for
friday's
executive
yeah.
A
This
week
this
week's
executive
is
going
to
have
a
couple
of
things
in
so
it's
going
to
have
the
core
unit
budget
payouts
for
july,
and
it's
going
to
have
the
aforementioned
rate
changes
it's
going
to
have
the
debt
ceiling,
instant
access,
module
activation
for
the
psm,
and
we
might,
I
think
so.
I
need
to
like
talk
to
critical
engineering
about
this,
but
we
might
put
in
the
activation
for
the
flashlight
module
in
this
week's
one
as
well,
but
yeah
that'll
be
in
the
in
the
copy.
If
it
goes
in.
A
A
We
also
put
together
some
initial
templates
for
delegation,
so
prospective
delegates
can
now
have
just
like
a
template
for
them
to
accomplish
position
statements
so
they're
kind
of
working
on
those
we'll
make
them
public
kind
of
altogether.
So
we
sort
of
generate
some
sort
of
hyphen
discussion
and
we'll
potentially
start
be
starting
kind
of
meet.
A
Your
delegate
type
meetings
either
next
week
or
the
week
after
so
yeah
moving
moving
forward
and
delegation,
which
is
which
is
awesome,
final
update
from
go
alpha,
was
or
highlight
from
girl
for
updates
is
that
the
there's,
a
new
version
of
the
mips
portal
being
pushed
to
production,
possibly
already,
has
been?
If
not,
it
will
be
in
the
next
couple
of
hours
yeah.
So
this
is
mostly
thanks
to
pablo
from
golfer
and
d-spots,
who
have
been
working
on
the
front
end
on
the
the
actual
site.
A
A
B
B
As
long
as
already
mentioned,
the
open
market
committee
has
published
a
new
parameter
changes
proposal
and
we
also
have
two
ama
calls
coming
up.
First,
one
is
proposing
the
maker
portfolio
car
unit
with
chris
cameron
on
july,
2nd
and
the
second
one
will
be
collateral
engineering.
With
robert
jordan
on
july
9th
active
discussions,
we
have
won
by
ice,
who
is
looking
for
feedback
on
a
new
set
of
mkr
vesting
guidelines,
as
he
also
publishes
his
mkr
compensation
financial
model.
B
Makerman
describes
the
interplay
between
trying
to
keep
the
peg,
fostering
the
centralization
and
keeping
a
one-to-one
die
collateral
backing
and,
lastly,
with
fatf's
recommendations
around
the
corner.
Yatsek
starts
a
discussion
concerning
maker's
policy
towards
regulations
onto
signal
requests.
We
have
one
by
alexis
who
is
looking
to
shorten
the
time
frame
of
when
a
proposal
by
the
parameter
proposal
group
is
put
up
for
vote.
Mariano
is
looking
to
delay
the
governance
process
on
adding
pax
geosdb
usd
until
the
community
gains.
A
better
understanding
of
the
implications.
B
Ultrashoopy
is
seeking
consensus
on
lowering
the
ttl
parameter
for
flop
auctions
and
another
one
by
hexonote,
who
makes
an
argument
to
fast-track
the
g-uni
collateral
and,
last
but
not
least,
the
prankster,
from
new
silver
seeks
to
increase
the
debt
ceiling
for
ns
drop
from
5
million
to
20
million.
Please
go
ahead
and
vote
and
that's
it
for
me.
A
C
Yeah,
hey
everybody
chris
from
vertical
engineering.
Congratulations!
Peyton!
That's
much
needed
best
factor,
although
you
should
probably
get
yourself
out
of
a
car,
because
that
seems
to
be
making
some
risk
you're
just
gonna
be
backed
along
for
wisdom.
Wait!
Are
you
guys
not
moving
my
star
linked
up.
C
No
okay,
payton
froze
on
me
and
it
like
it
got
me
all
that
stuff
all
right
cool
all
right,
so
we,
let's
see
so
the
optimism
die
bridge,
was
in
final
review,
and
so
we
completed
that
for
test
deployments
and
and
we're
we're
waiting
for
the
official
launch
date
from
optimism.
Although
I
I
believe
sometime
today,
they
were
going
to
take
our
deployer
address
and
and
whitelist
that
so
that
we
could
deploy.
So
we've
got
like
a
loose
date
to
possibly
deploy
that
bridge
tomorrow
on
optimism.
C
So
we'll
see,
if
that,
if
that
works
out,
we
still
don't
know
what
their
launch
date
is,
though
so
and
then
the
d3m
is
complete,
and
but
it's
not
immediate
priority
so
still
requires
a
little
bit
of
review
and
the
sushi
joint
adapter
is
complete
as
well,
but
we're
waiting
on
the
sushi
team.
I
think
sam
had
said
it
might
be
like
another
three
weeks
before
they
pick
up
to
where
they
thought
they
were
going
to
be
so.
C
C
Like
it
passed
sorry,
okay,
cool
and
that
for
testing
there,
we
basically
did
the
final
like
echidna
and
audit
testing
for
the
l2
escrow
and
we've
started
using
sertora,
which
is
they
have
like
a
whole
tool
set
for
formal
verification,
so
we're
starting
to
use
that
tool
to
see
if
we
can
like
firmly
verify.
Oh
great,
it's
gonna
keep
happening,
it's
my
world,
sorry
all
right
and
then
for
discussions
and
documentation.
C
We
have
the
esm
postmortem,
which
will
probably
be
published
later
this
week
and
then
there's
also
on
the
tail
end
of
that
we
discussed
a
mega
poker
post,
modern,
which
is
not
really
kind
of
like
a
system-wide
postmortem.
It's
just
that
the
megapoker
wasn't
poking
a
particular
collateral
type
for
a
while,
and
so
we
discussed
that
we
may
or
may
not
end
up
publishing
that
we'll
have
to
see
and
oh
and
there's
a
defined
the
exp.
C
C
But
it's
basically
all
of
the
expected
magnitude
ranges
and
you
know
quantities
so
so
everyone
that
is
interested
in
that
should
review
it
and
thanks
to
kurt
for
putting
that
together
and
then
we
also
had
some
more
discussions
around
the
sort
of
oracle
tail
risk
mitigations,
which
may
be
liquidations
2.1
or
exactly
how
we
deal
with
like
liquidations
2.1
again.
This
isn't
this
isn't
necessarily
in
oracles,
it's
more
like
once
we're
past
all
of
the
oracles.
You
know
what
what
do
we
do
if
we
ingest
like
a
bad
price?
C
C
Yeah,
that's
right,
brian!
I
have
a
lot
of
fun
when
you
guys
pass
execs
in
the
middle
of
the
night,
so
I
I
should
mention:
we've
been
kind
of
looking
heavily
into
this
gelato
token.
Sam
mentioned
sam
had
a
forum
post
kind
of
trying
to
expedite
it.
So
we
we
have
been
taking
a
look
at
that.
So
once
it's
live
and
audited,
and
everything
like
that,
we
can.
C
Postmortem
would
be,
like
you
know,
kind
of
there's,
there's
a
lot
of
like
little
edge
keepers
that
the
foundation
used
to
run
and
there's
there's
a
nice
way
that
the
protocol
could
incentivize
the
running
of
those
keepers
and
and
that's
through,
like
dss
cron
or
something
to
that
effect,
and
I
think
gelato
might
actually
take
a
stab
at
trying
to
implement
it.
So.
F
Yeah
we
so
we're
using
github.
We
have
a,
we
have
kanban
board,
but
there's
a
lot
of
things
in
there
that
are
either
working
with
partners
or
other
third
parties
that
we
wouldn't
want
to
make
public
just
yet.
My
original
plan
was
to
have
that
board
fully
public,
so
everyone
could
see
day
to
day,
but
we're
not
quite
there.
Yet.
There
was
a
good
question
that
planet
x
raised
today
was
like
okay,
what's
a
innovation
pipeline,
and
could
that
be
something
that
that
we
share
and
there's
thoughts
around
that?
F
F
Yeah
yeah,
that's
a
good
question,
ed
yeah
I'll
I'll.
Try
to
put
some
thought
towards
how
I
can
make
those
week
to
week
things
that
we
work
on
a
little
bit
more
visible.
We
have
planning
meetings
on
a
monday
which
gives
a
good
overview
of
okay.
This
is
what
the
team
is
focusing
on
for
the
next
couple
of
days,
who's
going
to
be
doing,
writing
spell
on
thursday,
friday,
who's
reviewing
it
and
some
of
the
processors
around
the
team.
So
yeah.
Let
me
give
that
some
thought
to
what
I
can
make
more
visible.
F
C
Yeah-
and
we
do
have-
I
mean
a
backlog
of
approved
governance,
approved
technical
mips
that
we're
working
on.
I
don't
know
if
we've
got
a
good
priority
list
of
that.
We've
been
working
with
gov
alpha
to
kind
of
publish
something
like
that,
but
we
also
need
to
remain
like
dynamic
for
for
when
things
pop
up,
if
opportunities
pop
up,
we
need
to
be
able
to
pivot
to
those
two.
H
Sure,
mostly
kind
of
on
the
back
end,
we
are
and
we're
happy
that
the
the
oracle
core
unit
pulling
vote
passed
pretty
much
unanimously.
So
thank
you,
but
now
is
kind
of
when
it's
crunch
time
to
get
all
the
the
legal
entity
stuff
set
up.
All
of
the
you
know:
contributor
kind
of
legal
mumbo
jumbo
out
of
the
way.
So
that's
been
that's
been
keeping
us
pretty
busy
on
the
tech
front.
Mark
andre
has
been
heading
up.
H
The
rollout
of
the
new
pricing
tooling
called
gopher
that
that
I
mentioned
on
on
last
week's
call.
So
the
way
you
structured
it
is
that
there's
kind
of
like
a
phased
rollout
right
where,
because
this
is
like
completely
new
tech,
we
wanted
to
be
very
careful
in
case
we
saw
some
kind
of
errors
in
in
production
that
it
wouldn't
take
kind
of
the
whole
oracle
network
down
with
it.
So
now
so
we
kind
of
had
like
a
minority
of
stakeholders,
kind
of
up
upgrading
and
it's
been
running
incredibly
smoothly.
H
You
know:
we've
seen
a
bunch
of
price
updates
for
oracle,
update
it's
already,
taking
into
account
these
new.
These
new
price
updates
from
this
new
tooling
so
we're
we
feel
like
we're
in
a
comfortable
spot
to
kind
of
do
the
the
remainder
of
the
migration.
Now
so
that's
that's
ongoing
and
then
in
the
pipeline
we
have
the
spire
upgrade,
which
is.
Hopefully
you
guys
can
hear
me,
I'm
getting
a
little
pop-up
saying
my
connection's
unstable,
but
yeah
so
in
in
the
pipeline.
We
have.
H
We
have
spire
right,
which
is
this
alternative
kind
of
a
peer-to-peer
networking
type
of
layer.
So
that's
gonna,
come
to
that's
gonna
be
coming
out
shortly
as
well
in
the
in
the
next
couple
weeks.
So
we've
been
testing
that
internally
for
for
quite
some
time
now
and
and
that's
meant
to
be
kind
of
the
not
alternative
to
scuttlebutt
but
kind
of
like
a
substitute,
so
the
two
will
be
running
in
parallel.
H
So
if
there's
ever
any
issues
with
one
of
them,
the
the
feeds
the
oracle
feeds
will
just
kind
of
just
jump
to
the
other
so
yeah.
So
we
we
should
be
finishing
up
both
of
those
migrations
in
I
don't
know,
probably
within
the
next
month
or
so
so
that's
gonna,
be
I
I
wouldn't
call
it.
You
know
version
3.0,
but
it's
a
it's.
Definitely
like
a
version
2.5,
because
it's
it's
much
much
more
resilient
than
than
what
we
had
previously.
A
I
Yeah,
so
we
just
published
two
collateral
evaluations
recently,
one
for
stick
teeth
and
another
one
for
polygon
for
stick
tit.
We
proposed
a
bit
lower
depth
ceiling
of
5
million
die,
and
this
is
because
oracle
suggested
us
to
start
with
a
with
a
lower
exposure,
because
oracle
implementation
is
not
that
straightforward,
but
once
we
have
the
world
deployed
and
oracle's
tested,
we
will
we'll
likely
propose
to
increase
debt
ceiling
to
a
higher
value
of
potentially
up
to
50
million
and
more.
I
But
then
again,
it
really
depends
on
community
appetite
towards
this
asset,
which
of
course,
has
certain
counterparty
risks.
We
also
propose
a
bit
higher
liquidation
ratio
of
160
percent,
because
we
believe
that
this
world
might
have
a
high
demand
and
then,
if
we
increase
the
abseiling,
when
we
do
it,
we'll
probably
have
more
capacity.
I
I
Our
new
team
member
sean
helped
us
make
this
evaluation
so
really
good
to
see
team
growing
and
happy
to
have
sean
on
our
team.
The
proposed
parameters
are
pretty
standard,
similar
as
what
we
have
for
other
similar
market
profile,
volatile
tokens.
Hopefully
we
see
some
demand.
The
token
is
also
sufficiently
on
chain
liquid
and
we
can.
I
This
is
proceeding
nicely.
We'll
probably
have
the
valuation
finish
next
week.
We're
spending
a
bit
more
time
on
to
says
credit
risk
and
liquidity
risk
of
of
time
market
on
rv2
and
interesting.
Finding
so
far
was
that
die
credit
risk
is
actually
much
smaller
than
we
thought
so
to
mention
a
few
numbers
that
that
might
be
actually
interesting
for
community
to
hear
also
from
the
competitive
standpoint,
so
have
a
v2
die,
borrow
amounts,
so
the
aggregate
amount
is
is
about
1.2
billion.
I
But
then,
when
you
look
at
what
kind
of
positions
these
are,
you
soon
realize
that
these
borrowers
are
actually
mostly
recursive
stablecoin
leverage
positions
which
people
make
to
to
maximize
liquidity
mining
rewards,
so
the
actual
organic
die
borrow
amounts
are
very
smaller.
It
even
surprised
me
and
when
we
see
organic
stable
coin
borrowed
that
that's
actually,
you
know
stable
coin
bottle
being
collateralized
by
by
volatile
acid
and
not
stable
kinds.
I
I
So
this
was
something
really
interesting,
and
then
I
have
a
few
last
things
briefly.
There's
still
ongoing
discussion
on
institutional
worlds.
I
think
we're
now
calling
them
conditional
vaults.
Probably
neither
will
talk
about
more
more
about
this.
Basically,
growth,
us
and
protocol
engineering
are
looking
how
to
make
this
this
offering
available
fastest
by
simply
using
the
current
vault
parameters.
I
We
have
not
to
make
a
whole
new
process
that
that
might
take
too
long.
We
are
also
preparing
some
simulations
to
test
for
lower
liquidation
ratios
for
all
the
volts,
because
there
were
some
ideas
and
questions.
How
potentially
lower
liquidation
ratios
would
affect
would
affect
risk
profile
at
maker.
I
If
we
wanted
to
boost
boosted,
die
supply
in
such
way
and
then
there's
also
a
continuous
fork
on
our
dashboards,
I
think
once
we
finish
d3m
we'll
focus
more
on
analyzing
our
users,
meaning
we'll
try
to
get
more
stats
about
their
behavior,
also
see
how
exactly
all
this
diet,
that's
that's,
being
committed.
How
is
utilized
and
then
lastly,
protocol
engineering
team
asked
us
to
look
at
defcon
spells.
I
J
Yes,
sir,
so
for
new
silver,
there
is
a
new
signal
request
proposing
to
increase
the
debt
ceiling
to
20
million.
So
currently
it's
set
to
5
million
and
they
are
using
60
16
percent
of
the
vault.
So
they
have
implemented
all
the
change
that
were
needed
in
the
last
possible
time.
They
published
all
the
documents
on
the
form
so
pertaining
demands
agreement
with
the
independent
director,
the
new
notification
system,
as
there
was
a
an
improvement
in
the
smart
contract
for
a
new
silver
on
the
team
next
side
after
the
audit
from
from
dub.
J
With
a
new
system
with
a
link
with
a
with
a
makeup
mekudo,
so
there
was
some
changes
there
and
yeah.
That's
it
on
this
front
for
the
four
other
centrifuge
collaterals
that
were
approved
by
the
governance
last
month,
they
were
delayed
due
to
the
change
in
the
improvement
in
the
smart
contract
side.
So
they
are
pushing
on
kovan,
I
think
next
week,
and
so
it
would
mean
that
it
would
be
a
deployment
on
main
net
for
those
new
pools
for
next.
J
For,
for
in
the
next
two
weeks
on
the
select
front,
it
got
a
bit
delayed
because
there
was
some
discussion,
slash
negotiation
on
the
risk
profile
maker
community
would
like
to
have
at
the
beginning.
So
it's
a
construction
project.
So
we
start
to
land
at
the
beginning,
due
to
tax
issues
and
or
some
kind
of
other
problems
that
we
can
discuss.
J
J
J
G
Yep
so
yeah
sorry
matt
couldn't
make
it,
but
he
asked
me
to
give
a
quick
update
and
sorry.
I
have
the
the
baby
right
now.
So
pardon
the
cries.
Things
are
moving
slowly
still,
but
they
are
moving
still
waiting
for
the
tax
id
from
the
irs.
It's
this
very
strange
issue
where
a
trust
cannot
get
a
digital
tax
id.
You
need
to
do
it
via
the
mail
and
the
irs
is
very
backed
up
right
now.
So,
if
we're
just
waiting
on
them,
the
other
issue
is
the
transfer
instructions
from
genesis.
G
Those
are
going
back
and
forth
between
the
lawyers
and
it
seems
like
they'll,
be
done
very
in
the
next
few
days
and
yeah.
So
after
we
get
the
transfer
instructions
and
the
what's,
it
called
sorry.
Babies
distract
me
and
the
the
tax
id
we
should
be
able
to
close,
and
at
that
point
you
know,
rwa
will
put
up
any
final
risk
disclosures
that
it
sees
with
the
structure
and
hopefully,
matt
will
petition
for
an
executive
vote
to
races.
J
Okay,
great
thanks
so
they'll
close
on
the
reward
I
said
front
on
the
finance
part,
so
aes
published
two
posts,
one
with
a
long
for
wisdom
for
the
new
mkr
guidelines
and
another
one
that
is
more
on
the
finance
front,
to
to
model
the
impact
of
giving
mk
a
reward
to
the
to
the
car
units
and
see
what
are
the
impacts
on
the
profit
and
north
on
the
balance
sheet.
And
of
that,
so
you
can.
J
As
you
know,
we
are
using
gene,
analytics
a
lot
to
publish
the
monthly
report
and
all
that
and
do
some
google
spreadsheets
for
the
reward
asset
stuff
and
it's
quite
painful.
And
so
we
have
started
to
work
to
have
a
real
database
where
every
data
on
chain
and
off
chain
is
dump
into.
Then
we
can
use
some
sql
queries
to
make
some
more
elaborated
models
and
then
use
any
any
front-end
to
to
have
access
to
the
data.
J
So
that
means
that,
for
instance,
I
don't
have
the
financial
updated
today,
because
it
will
take
more
than
one
day
to
be
updated,
but
when
it
will
be
automated,
we
will
have
the
data
I
mean
we
will
have
the
data
every
day
and
yeah.
So
there
is
a
github
for
that.
It's
open
source,
it's
not
a
production,
perfect!
It's
it's
not
the
idea.
The
idea
is
to
have
something
quite
simple,
that
you
we
can
improve
and
integrate
on
it's
not
to
be
a
separated
product.
J
J
K
Hey
everyone:
okay,
let
me
just
okay:
this
is
the
link
for
the
updates
this
week,
a
lot
of
updates
this
week
we
have
been
talking
with
different
companies
that,
for
like
one
reason
or
another,
requires
maker
to
pass
through
kyc
process.
One
of
these
companies
is
of
course,
circle.
We
have
been
talking
with
them
since
last
week
about
this
idea
that
someone
suggested
in
the
forum
about
investing
the
usdc
we
have
on
the
circle
yield
account
so
well.
It
was
like
a
very
great
discussion.
K
It's
also
like
good
to
know
that
circle
is
in
conversation
with
other
vows,
but
well,
and
this
is
fascinating
for
me,
but
other
though
they
have
for
a
foundation
or
a
central
entity
that
controls
the
treasury.
So
for
this
other
house
is
more
easy
to
decide
to
sign
an
agreement
with
a
circle
and
is
producing
this
yield
account.
I
I
think
we
all
will
you'll
saw
what
compound
is
offering
now.
K
K
K
So
after
like
seeing
all
these
opportunities
that
we
have
right
now,
we
decided
to
to
ask
to
our
legal
advisor
to
work
on
this
and
have
his
point
of
view.
He
will
like
explain
us
the
risks.
The
options
we
have
as
maker
dow
to
understand
what
what
could
be
next
step.
This
is
also
interesting.
I
I
know
paper
ethereum.
He
is
working
on
a
proposal
to
start
investing
and
make
the
maker
protocol
assets
into
trade
trade
fi.
K
K
They
want
to,
like
showcase
die
as
one
of
the
top
10
use
cases
for
busd
with
dai,
and
they
also
want
to
engage
their
community
about
using
this
usd
slash,
die
integration.
So
this
is
great,
and
I
think
my
team
thinks
that
we
can
like
ask
them
for
more
more
things.
In
return
of
er
er
asking
like
having
this
proposal
about
including
them
in
the
psm,
so
I
think
it's
it's
good
to
know
what
other
projects
could
like
give
the
maker
protocol
in
return
for
being
added
to
the
psm.
K
I
didn't
include
it
in
here
because
I
forgot,
but
we
will
also
be
we'll
be
working
with
all
the
projects
that
probably
we
will
afford.
So
our
plan
is
to
talk
with
these
projects,
for
example
the
centerland
to
talk
with
them
about
mana
and
ask
them
why
they
are
not
using
the
vault,
and
I
think
this
is
good,
because
it's
it's
it's
good
to
understand
why
other
projects,
treasuries
or
foundations
or
daos
are
not
using
maker
bolts
to
get
liquidity
like
fun
fact.
K
Well
start
of
the
week,
it's
block
five
block
pipe
for
the
ones
who
can
open
an
account
in
block
fight.
I
know
it's
not
available
in
all
countries,
but
but
I
know
for
sure
that
a
lot
of
latin
asia
and,
of
course,
north
american
countries,
are
they
can
open
an
accounting
block
by
they
will
be
giving
an
8.5
percent
yield
in
thai.
So
this
is
this
is
very
cool,
and-
and
this
is
also
a
reminder
that
it
will
be
great
if
we
could
like
have
the
dsr
alive.
K
Last
week
we
launched
our
twitter
account.
This
is
the
tweet
of
the
week.
It
is
like
we
thought
it's
amazing,
that
a
polygon
team
is
telling
everyone
that
they
really
want
matic
to
be
used
as
collateral,
and
they
want
it
so
bad
that
they
will
open
a
vault
of
50
million
dollars
worth
of
matic
as
soon
as
as
soon
as
matic
is
onboarded
in
the
maker
protocol.
So,
yes,
that
was
all
for
this
week.
Any.
C
Nadia
the
the
deal
with
matic,
where
we
do
this,
this
is
basically
them
monetizing
their
treasury,
and
I'm
wondering
isn't
this
effectively
the
same
thing
that
we
did
with
wi-fi
or
that
wi-fi
wanted
to
do.
Is
there
and
anyone
can
answer
this?
Is
there
any
major
difference
between
the
two
situations,
because
I
know
mkr
holders
didn't
vote
for
wi-fi
to
do
this,
and
you
know
I'm
just
wondering
if
that
appetite
has
changed
if
they
should
resubmit
what
the
story
is.
A
K
I
think
it
it's
also
the
depth
ceiling.
I
think
that
the
problem
was
that
excelling
wi-fi
wanted
to
have,
but
I'm
totally
in
favor
of
the
of
wi-fi
proposal.
I
think
that
we
should
consider
be
the
bank
for
a
d5
treasuries,
but
I
know
that
has
like
it's
some
risk
associated,
but
I
think
like,
if
it's
not,
if,
if
they
don't
have
maker,
they
will
like
look
for
other
options
and
I'm
seeing
yuma
offering
to
be
the
bank
to
these
d5
treasuries.
So
I
mean
there's
like
a
clear
opportunity.
K
Risk
reward,
as
always
exactly
by
the
way
in
that
in
that
line.
Jane,
is
also
working
with
a
gnosis,
because
makerbots
were
not
integrated
in
gnosis
and
everyone
is
using
their
multisig.
Every
dow
is
using
their
multi-stick,
so
now
it
will
be
easier
for
those
to
open
up
all
if
they
are
using
a
multisig
that
everyone
uses
it.
So
that's
that's
also
a
good
news,
er
or
like
position
ourselves
us
as
a
as
a
as
the
bank
of
the
taos.
F
A
L
This
is
juan
from
scs
or
sustainable
systems.
Scaling.
Can
you
see
my
screen?
Yes
great,
so
let's
jump
quickly
into
our
updates.
So
the
first
news
is
that
the
mkr
composition
passed.
So
the
team
is
very
very
happy
about
that
and
we
would
like
to
thank
everyone
that
voted
yeah.
Hopefully
this
paves
the
way
for
for
new
core
units
that
are
considering
joining
maker
and,
and
it
helps
scale
the
system
in
that
way.
L
Then
we
already
mentioned
the
potential
budget
modification,
so
we
might
write
something
for
next
week
before
the
rfc
deadline
and
regarding
the
internal
projects,
we
had
nikolai
last
week
explaining
project
sandbox
during
the
scs
weekly
meeting,
so
that's
already
in
the
public,
video
folder
and
we'll
have
lanca
tomorrow
explaining
project
x-rays
so
for
everyone
that
wants
to
know
more
about
this.
Please
join
us
at
2,
30
yeah,
I'm
utc.
L
Regarding
other
news,
I
don't
think
you
commented
much
on
this
nadia
and
maybe
you
want
to,
but
I
know
that
lenka
is
collaborating
a
lot
with
nadia
and
other
people
for
the
side
event
in
ecc.
So
there's
something
happening
there.
More
details
coming
soon
and
also
link
is
going
to
be
presenting
scs
unmanned
maker
in
the
taoist
on
july
23rd
regarding
the
dye
foundation
and
potential
mips,
we'll
have
more
news
next
week
and
yeah
there's
our
incubis
have
are
live
so
as
always
reach
for
help.
L
K
L
A
D
L
Know
how
much
right
not
much,
but
the
dog
food
one
is
to
set
up
your
own
core
unit,
so
any
documentation
that
will
help
any
stranger
to
set
up
the
core
unit.
Sandbox
is
to
design
and
improve
architecture
for
the
maker
protocol
that
enables
mainly
parallel
smart
contract
development,
x-rays
about
talent,
onboarding
funnel
so
recruiting
and
anything
that
will
improve
this
as
a
dao,
perfect.
A
D
Sorry
just
a
moment,
all
right
cool,
yeah
right
on
happy.
What
is
it
now?
It
is
july,
right,
yeah,
so
one
sec,
all
right.
Yeah,
welcome
to
the
weekly
mips
update,
I'm
david
hi,
so
yeah
we
just
concluded
our
june
governance
cycle,
so
we
had
a
bunch
of
positive
results.
Nothing
failed
our
governance
cycle,
so
we
successfully
passed
dss
fest
pros
for
the
governance,
facilitator
role,
the
four
different
budget,
modifications
which
included
the
scs
mkr
compensation
package
and
also
the
oracle's
core
unit.
D
So
a
huge
congratulations
to
everybody
on
the
results
from
last
month,
but
now
we
are
entering
into
a
new
month
and
so
here's
a
quick
snapshot
of
what
the
month
is
going
to
look
like
currently
we're
in
a
gap
week.
So
there
is
nothing
mips
related
happening
at
the
moment,
but
starting
monday,
the
fifth
through
wednesday,
the
seventh
we're
gonna,
have
our
usual
formal
submission
period
with
a
submission
review
happening
that
thursday
and
then,
after
that,
it's
gonna,
be
individual
ratification
polls
for
every
individual,
mip,
subproposal
and
mipset.
D
D
Any
core
unit
can
use
it
pretty
much
as
like
a
tool
in
its
back
pocket.
We
also
have
greg
the
prisco's
mib
52,
which
is
a
dispute
resolution
process
which
actually
involves
putting
up
a
10
000
die
worth
of
mkr
at
the
date
of
the
dispute
and
kind
of
bringing
it
to
mcar
holders
on
chain,
but
yeah
definitely
check
that
out
and
also
a
couple
of
budget
modifications
are
eligible.
D
We
also
have
a
number
of
core
units
eligible,
so
governance
coms
is
eligible.
Strategic
marcoms
is
eligible
collateral.
Engineering
services
is
eligible
as
well
as
amazics
and
also
strategic
happiness.
So
all
of
these
I've
covered
the
details
of
in
the
previous
week's
updates,
so
feel
free
to
you
know
check
out
the
previous
slides.
If
you
want
the
details
actually
here,
let
me
let
me
go
back
really
quickly
and
give
like
a
second.
If
anybody
wants
to
screenshot
these.
D
Let
a
paper
speak
to
that,
perhaps
later
in
the
call
or
in
a
separate
call,
and
then
we
also
have
the
updated
the
updated
declaration
of
intent
from
b
protocol
and
they
are
asking
for
maker
governance
to
stand
with
them
and
declare
their
declare
our
intention
to
experiment
with
the
native
integration
with
their
v2
protocol.
So
yeah,
that's
about
it
for
the
mips
update,
yeah,
it's
a
gap
week,
so
nothing
crazy
happening.
Looking
forward
to
everybody's
submissions
this
coming
week
so
feel
free
to
shoot
me
a
question.
If
you
have
any.
A
D
A
A
So
we
got
to
kind
of
observe
the
differences
between
petunia
and
the
previous,
like
we
didn't
have
anything
fail,
which
is
a
good
sign
like
it
was
like
this
sort
of
10k
like
default
maker,
was
kind
of
you
know,
there's
no
sort
of
technical
analysis
or
sort
of
decision
that
like
why.
That
would
be
a
good
minimum
amount.
It
was
just
kind
of
a
ballpark
number,
so
it's
good
to
see
that
we
sort
of
did
meet
that.
A
So
maybe
one
comment
to
make
is
that
we
did
see.
We
did
see
some
of
the
proposals
stay
below
the
10k
kind
of
threshold.
For
for
some
time,
I
think
some
of
them
went
quite
late
before
they
I
got
voted
through,
which
is
not
entirely
unexpected,
like
I
kind
of
expect
some
people
to
sort
of
vote
near
the
end,
whereas
some
seem
to
sort
of
consistently
vote
near
the
beginning,
yeah
so
dss
west
and
I
think
cs
were
the
two
that
sort
of
went
quite
late
at
dss
went
later.
A
I
think
so
yeah,
I'm
not
sure,
sort
of
how
to
pass
that
at
this
point
right,
like
I
think
I
don't
think
it's
a
problem
like.
I
think
it's
good,
that
we
saw
everything
pass
and
yeah
if
we
like,
as
we
continue.
I
guess
we'll
see
if
we
have
any
issues
with
the
new
with
the
new
version
but
sort
of
I'm
feeling
fairly
like
it
feels
fairly
promising.
At
this
point
right,
like
it's,
it's
made
a
couple
of
things
easier.
You
know
we
had
sort
of
participation
yeah.
A
So,
like
the
one,
I
guess
not
downside
the
one
sort
of
separation
thing
is
that
like
to
be
fair,
we
didn't
often
do
this,
but
like
previously
with
the
old
cycle,
we
had
the
chance
to
actually
implement
the
thing
in
the
same
vote
that
kind
of
confirmed
it
right
like
if
dss.
If
this
successful
had
been
in
an
executive,
then
we
could
have,
I
guess,
commissioned
the
dss
dss
quest
in
that
executive,
so
it
is
not
separate.
Now
that
is
there's
a
now.
A
A
Yeah
so
brian
mentioned
delegation
and
I
think
yeah.
I
think
that
will
sort
of
shift
a
lot
of
things
in
the
community.
I
think
potentially
it
will
make.
I
think
potentially
delegation
would
have
made
the
previous
monthly
cycle
much
more
smooth
as
well.
So
it's
possible
if
we
sort
of
develop
issues
with
a
new
one.
We
might
go
back
once
we
have
delegation,
but
like
only
if
we
have
issues
right
like
if
it's
working
for
everyone
stick
with
it
anyway.
K
K
We
are
defining
the
venue
and
all
of
that-
and
we
want
to
have
some
sort
of
panel
where
different
koreans
will
talk
about
what
they
are
doing
and
all
of
that,
and
we
would
love
to
have
someone
from
the
community
also
in
the
panel.
So
if
you
are
going
to
be
in
paris
for
the
event,
let
me
know-
and
it
will
be
great
to
include
you
in
in
the
panel
also-
we
have
a
telegram
group
and
the
same
thing
if
you
are
going
to
be
in
paris
during
the
event.
A
A
A
Okay,
if
that
comes
that's
yeah,
we're
on
the
house.
We've
got
some
time
left,
so
I
guess
bringing
us
back
to
delegation
right.
We
spoke
a
little
bit
about
this
last
week
that
was
kind
of
some
some
sort
of
spirited
discussion
that
took
place
near
the
end
of
the
meeting.
So
if
anybody
wants
like
sort
of
discussing
anything
specific
about
delegation,
now
is
maybe
a
good
time.
A
So
I
think,
on
balance
like
my
current
position,
is
that,
like
I
kind
of
like
the
fact
that
there's
almost
a
separation
of
powers
between
mandated
actors
versus
make
holders
currently
right
not
like
you
know,
it's
not
like
sort
of
a
clean
separation
because
they're
always
there
overlaps
and
that
was
like.
Potentially
if
delegates
are
still
not
made
actors,
then
that
will
continue
right
like
there'll,
be
some
there'll
be
a
kind
of
a
given
take
between
the
delegates
and
the
managed
actors
which
should
hopefully
keep
like
both
sides
somewhat
in
check.
A
It
so
I
guess
so
a
couple
of
others
have
sort
of
suggested.
Like
sort
of
saying
you
know,
they're
now
sort
of
implementing
a
sort
of
draconian
policy
of
saying.
Like
you
know,
if
a
manager
actor
is
called
being
a
delegate,
then
you
sort
of
dismiss
them
as
a
manager,
actor
which
is
possible.
I
think
it's
a
bit
heavy-handed
like.
A
A
M
M
M
F
My
thought
is
that
ideally-
and
just
my
personal
perspective
is
ideally
facilitators,
like
myself,
shouldn't
be
mandated
actors,
because
we
already
have
quite
a
lot
of
centralized
control
in
the
team
itself.
Protocol
engineering
is
working
on
the
protocol.
We
shouldn't
be
voting
on
things
that
we're
putting
forward.
I
think
there
needs
to
be
broader
discussion
with
the
broader
community.
H
A
A
H
Let's,
let's
say,
for
instance,
that
in
in
terms
of
like
crypto
twitter,
popular
culture,
one
core
unit
is
very
popular.
So,
let's,
let's
use
pe
as
an
example
right,
let's
glorify
the
the
devs
who
are
you
know,
building
the
the
core
of
the
protocol
right
so
and
everyone
everyone
delegates
to
the
the
pe
team,
and
now
you
have
kind
of
the
situation
where
that
mooney
just
kind
of
posted
right.
H
The
way
I
kind
of
see
it
is
that
you
devolve
into
the
kind
of
situation
that
bitcoin
finds
itself
in
where
the
devs
have
basically
taken
over
control
of
the
protocol
right
where,
if
you
know
they
can
basically
kill
something
if
they
don't
like
it
or
they
can
get
something
in
if
they
do
and
and
that
that
worries
me.
I
don't
want
us
to
be
in
in
that
type
of
situation.
A
Yeah,
I
I
think,
that's
a
point
of
view,
avoiding
any
any
potentially
problematic
tribal
comments
at
this
stage.
So
I
guess
I'm
curious
if
anyone's
taking
the
opposite
view
right,
because
I
know
like
while
I
was
last
week,
I
guess:
does
anyone
else
hold
the
same
view
right
that
the
manage
actors
should
be
delegates,
because
we've
heard
quite
a
lot
from
one
side?
I
guess
so
far.
L
L
I
don't
know
quote-unquote
legal
way
so
allow
for
it
if
needed,
and
all
the
conflict
of
interest
being
declared
compared
to
some
random
wallet
showing
up
and
it's
like.
Oh
who's,
this
okay,
they
got
a
bunch
of
delegation.
We
don't
know
who
it
is.
It
might
be
a
mandated
actor.
Maybe
it's
not
and
not
being
able
to
interact
with
that
person.
I
think
it
might
have
worse
ramifications,
but
I
I
I
share
a
lot
of
the
points
that
nick
raised.
So
I'm
on
the
fence
for
this
one.
A
Yeah,
so
I
look
of
people
bring
up
the
enforcement
point
again
and
yeah.
I
agree
like
I
think
you
know
if,
if
we
did
conclude
that
we
didn't
think
managing
actors
being
delegates
was
a
good
idea,
like
you
know,
as
part
of
that
game
offers
responsibilities,
I'm
planning
to
write
sort
of
like
you
know
like
what
should
you
consider
as
an
mk
holder
when
you
delegate
right-
and
this
would
be
sort
of
one
of
the
the
sort
of
recommendations
that
we
put
in
there?
K
But
but
if,
if
we
know
like
facilitators
or
koreanits
shouldn't
be
delegators,
why
don't
we
create
a
rule?
I
I
understand
we
can't
enforce
it,
but
we
could
like
ask
maker
holders
if,
like
explaining
them,
why
we
think
it's
it's
not
a
good
idea
and
ask
them
if
they
think
the
same
or
not
and
like
create
rules
about
who
could
be
a
delegator,
because,
if
not
like,
I
understand
that.
We
all
agree
now
that
we
don't
want
that
to
happen.
But
if
it's
not
a
rule
like
it
could
happen
in
the
future.
K
So
why
don't
like?
We
like
create
a
clear
framework
for
everyone
and
if
you
want
to
be
a
delegator
and
you
are
part
of
a
career
unit.
Well,
you
can
like
always
like
quit
your
career
unit
and
become
a
delegator.
But
if
we
have
like
clear
rules
for
everyone,
I
think
it's
it's
much
better
than
assume
that
we
all
agree
in
a
in
a
social
in
this
social
agreement
that
we
should
then
like
have
facilitators
or
care
units
as
alligators.
A
Yeah,
so
I
think
that's
a
fair
point.
I
I
kind
of
bring
up
the
point
that
sort
of
any
rule
that
we
make
can
be
unmade
right
so
like
it's
kind
of
very
much
the
social
like
layer
that
is
enforcing
or
like
that,
can
enforce
it
right.
So
you
know
if
the
social
layer
develops
into
some
into
a
group
that
feels
that
delegates,
so
mandatory
should
be
delegates
right.
L
I
I
wanted
to
say
something
so
nadia
said
that
we
all
agree
that
they
should
not,
and
I
don't
agree
with
that
statement-
I
I
don't.
I
don't
think
I
don't
think
they
should,
but
I
also
don't
think
they
should
not.
So
I'm
I'm
like
neutral
on
that
one.
I
do
agree
that
a
concentration
of
power
is
dangerous
at
any
point
in
in
the
process,
but
this
does
not
stop
in
this
stage
right.
So
I'm
talking
about
the
whole
ecosystem,
but
yeah.
L
A
Yeah,
I
think
that's
true,
like
I
think
it's.
It's
also
important
to
note
that
the
risks
of
like
central
paper
centralization
exist
without
this
rank,
which
I
think
is
what
people
are
saying
on
the
site,
though
you
know
like
there's
something
stopping
like
sort
of
one
delegate
who
isn't
the
manager
getting
like.
You
know
huge
amount
of
mkr
targeted
to
them
to
the
point
where
they
essentially
control
the
protocol
right
and.
A
Yeah
again,
I
think
I
think
it's
probably
like,
as
I
said,
I
don't
think
we
actually
can
enforce
it.
Nadia,
unfortunately,
as
much
as
some
of
us
may
want
to
right,
I
think
that's
so
there's
actually
there's
actually
another
record
of
this
as
well,
which
is
that,
like
a
lot
of
the
initial
delegates,
are
people
who
have
like
contributed
to
coordinates
in
the
past
at
the
very
least
right.
A
A
Yeah,
I
I
think
it
can
be
like
so
I
think
paper
improvement
is
something
that's
like
no
matter
what
you
do.
It
kind
of
enables
the
possibility
for
more
corruption
right
for
like
corruption,
when
you
do
targets
like
with
the
trade-off
being
you
get.
Hopefully
more
effective
governance,
like
you
know,
in
the
example
of
corruption,
that,
in
this
situation
you
just
mentioned
nick,
is
that
you
sort
of
you
know
in
sort
of
traditional
governments,
you
sort
of
always
hear
like.
A
Oh,
you
know
like
someone
who
was
a
minister
then
became
like
some
some
executive
of
some
national
corporation
that,
like
that
funded
like
you
know,
there
was
like
lobbying
for
like
for,
like
certain
decisions
in
government
right
and
potentially
vice
versa.
You
could
have
you
know
the
mandated
actor,
who
sort
of
steps
down
with
the
express
purpose
of
becoming
a
delegate
and
pushing
like
the
agenda
that
the
next
for,
like
their
successor,
is
going
to
push
right.
A
A
A
A
Cool
all
right
yeah.
I
think
that
was
a
positive
discussion,
hopefully
based
on
fourth
degree
yeah.
Well,
as
I
said,
we'll
sort
of
post
something
let's
go
after
this
sort
of
that
sort
of
kind
of
explains
our
point
of
view.
Writing,
like
our
recommendations
to
empowerholders
and
when
delegating
which
will
kind
of
cover
this.
A
You
know,
and
obviously,
if
anybody
does
want
to
to
try
and
to
like
sort
of
submit
a
map
or
write
a
myth
that
sort
of
sets
like
you
know
that
does
try
and
kind
of
enforce
certain
rules
for
delegates
for
delegates.
That's
also
something
anyone
can
do
right,
like
so
yeah,
very
much
kind
of
an
open,
open
question
still
at
this
point.
E
Sorry
long
just
to
clarify
is
it
about
being
a
delegate
or
being
a
recognized
delegate,
because
we
essentially
cannot?
Or
is
this
going
to
be
some
kind
of
whitelisted
thing
in
the
end?
Because
if
somebody
wants
to
be
a
delegate-
and
he
cannot
because
of
some
strange
myth
law,
we
put
up
at
some
random
point
of
time-
then
they
will
just
create
a
second
account
being
unrecognized
and
just
tell
their
friends
and
being
a
delegate.
This
way
actually.
K
E
A
Okay,
yeah,
I
agree
completely
like
I
don't
think
this
is
like
a
you
know,
make
or
break
problem
right
like.
I
don't
think
this
is
something
that
we
need
to
get
right
initially
like
if
there
even
is
like
a
right
answer,
which
I'm
not
sure
there
is,
and
I
agree
I
think
I'm
leaning
towards
like
you
know
like
the
reality
is.
There
is
no
way
to
enforce
this,
and
if
people
are
going
to
do
it,
then
I
would
rather
they
did
it
publicly.
A
H
I
I
still
think
we
shouldn't
let
the
enforceability
of
this
dissuade
us
from
just
deciding
as
a
community
that
we
don't
like
this.
I
think
the
social
signaling
is
is
more
than
kind
of
strong
enough
as
an
enforcement
mechanism,
at
least
at
first
like
if,
if
you're,
an
on
like
great,
like
what
you're
going
to
have
a
hard
time
kind
of
pulling
in
big
bags
of
maker,
because
you
can't
use
your
your
identity
right
as
your
brand
to
to
attract
the
mkr
as
a
delegate.
E
No,
but
let's
say
one
of
the
vcs
is
really
really
fond
of
derrick
and
saying:
hey
derek:
it
would
be
really
cool
if
you
could
be
a
delegate
and
derek
would
say
sorry
I
cannot
do
and
then
they
bribe
him
and
he
creates
a
second
account
totally
anna.
Nobody
knows
about
it,
just
the
vc.
This
works
totally.
A
Yeah,
I
mean
that's
definitely
true,
and
some
of
those
traditions
hold
fairly
strongly,
but
we've
also
seen
examples
recently
where,
like
those
traditions,
have
been
broken
to
like
limited
with
like
limited
recourse
for
anyone,
so
yeah
I
mean
I
do
see
a
point.
Okay,
I
do
think
the
social
consensus
is
pretty
strong
and
like
if
someone
does
want
to.
As
I
said,
if
someone
doesn't
want
us
to
actually
write
a
myth
that
says
like
these.
Are
the
rules
like
these
are
the
rules
for
delegates?
Everyone
agrees
on.
A
E
A
E
If
mkr
holders
don't
like
the
idea
of
core
units
facilitators
being
delegates,
then
they
just
won't
delegate
to
this
person.
There
is
no
need
to
come
up
with
some
kind
of
social
consensus.
I
mean
how.
How
would
should
this
work?
Somebody
is
going
to
write
a
lib
saying
we
don't
like
that,
and
then
we
have
this
mip
in
the
in
the
voting
portal.
E
E
H
Like
like
the
the
only
way
that
works
is
if
the
person
is
anonymous
right,
because
if
they're
a
coordinate,
facilitator
or
contributor
or
whatever
and
then
they're
a
public
delegator,
then
the
next
step
really
is
for
governance.
Just
to
like
vote
that
person
out
of
out
of
their
position
right
and
then
it
becomes
the.
So.
The
code
is
law.
H
Enforcement
of
the
the
social
values
that
that
we've
agreed
on
right,
like
we're
just
literally
just
talking
about
this
edge
case
of
like
someone,
is
an
on
and
kind
of
doxes
themselves
to
certain
people
to
get
their
their
mkr
delegated
to
them.
And
I
and
I
think
that
the
edge
case
is
possible.
But
I
I
don't
think
it
invalidates
the
rest
of
the
rest
of
the
benefit
that
we
get
in
all
other
cases,
except
for
that
specific
edge
case.
A
I
mean
the
potential
flip
side
to
that.
Is
that,
like
you
know,
if
you
don't
force
people
to
do
add-on,
then
they'll
do
it
publicly
and
you
can
keep
better
track
of
what
they're
doing
right.
Like
that's
the
kind
of
counter
argument
like
if
you
you
know,
if
you
do
say
you
know,
we
don't
recommend
it
but
like
we
would
rather
use
public
than
private.
Then
you
know
potentially
they'll
be
public
and
it's
easier
to
then
track
like
any
conflict
of
interest.
Any
potential
like
sketchiness
or
whatever
right.
A
A
Gotcha
all
right
so
yeah,
I
I
don't
think.
As
I
said,
I
don't
think
we're
going
to
be
able
to
decide
on
something
beforehand
because
we're
hoping
to
launch
fairly
soon.
I
do
think
if
anyone
is
like
deeply
concerned
about
it
and
does
think
we
should
try
and
enforce
it,
then
it
will
be
the
way
to
go
kind
of
happy
to
like
help
review
any
myth
that
anyone
wants
to
write
along
those
lines.