Weekly Relay | Episode 77
Hi everyone, thanks for checking out Maker Relay! Whether you hold MKR or DAI, own a vault, or want to get more involved in governance, this is your one-stop-shop for MakerDAO updates.
👓 Here’s the breakdown:
Current Events 🍵 | This Week in Governance 🗳️ | Team Updates 📋
Mark your Calendar 📆 | Useful Links ⚓ | Have Feedback? 🎙️
Current Events 🍵
Volatility in markets ramps up liquidations
The recent drop in the cryptocurrency market has left several vaults undercollateralized, kicking off dozens of liquidations over the last two weeks.
To participate in auctions, check out MakerDAO’s Auction Portal from the SideStream Auction Services Core Unit, and please see MakerBurn for more information on individual auctions.
New Silver shares bright outlook for 2022
@prankstr25 recently posted an update from New Silver on their efforts to onboard Real-World Assets to the Maker Protocol.
In December, New Silver received 247 applications and closed on 16 loans. Those loans represent $3.7 million in volume at an average interest rate of 8.7% over 12 months.
New Silver’s debt ceiling stands at 20 million Dai, of which 10.7 million has been used.
21 new polls up for vote!
Twenty-one new polls are going up for a vote this week. Five of the polls end on January 13, and the other sixteen last until January 24.
The polls cover a wide variety of proposals, including Community Greenlight polls for new collateral types, Ratification polls for new Core Units, and changes to a variety of system parameters.
Please head over to MakerDAO’s Voting Portal to read the polls and cast your vote.
Discussion on the use of stablecoin treasury resurfaces with new proposals
@GWintery starts a new discussion on Utilizing USDC in the PSM just days after @GFXlabs published a pair of proposals to onboard US Treasuries as collateral (12-months and 2-10 years).
MakerDAO currently holds over 3.5 billion USDC, 499 million USDP, and 4.9 million GUSD in reserve, thanks to MakerDAO’s Peg Stability Modules (PSM).
@GWintery’s discussion brings up several ways the funds could be used, while the proposal from @GFXlabs would use the funds to purchase US Treasury obligations.
This Week in Governance 🗳️
MIPs
Weekly MIPs Update #69
🗓️ RFC and FS Dates for reference and existing proposals can be seen here.
Ratification polls for the January Governance Cycle are now entering the first week of the voting. These are the eligible proposals for January:
Active Executive Votes
There is currently no active executive vote. The next executive vote will go live Friday, January 14, 2022.
Active Governance Polls
Prioritize Onboarding a Compound DAI Direct Deposit Module (D3M)
Raise the Emergency Shutdown Module (ESM) Threshold
Prioritize DAI Direct Deposit Module (D3M) for Maple Finance
Increase the Dust Parameter for Select LP Token Vaults
Proposal - Recover DAI Locked in Optimism Escrow
Ratification Polls
Collateral Offboarding Process (MIP62)
Bug Bounty Program for MakerDAO Critical Infrastructure (MIP64)
Maker Keeper Network (MIP63)
Offboarding Content Production Core Unit
Facilitator Onboarding for RWF-001
Onboarding Tech-Ops Core Unit (TECH-001)
Onboarding Strategic Finance Core Unit (SF-001)
Development & UX Core Unit Budget - DUX-001
Core Unit Budget, SNE-001
Modify Core Unit Budget, ORA-001 (Oracle Gas Costs)
Modify Core Unit Budget - Sustainable Ecosystem Scaling (SES-001)
Community Greenlight Polls
OGN (Origin Protocol)
Ends 1/24 4 PM UTC | Application
OUSD (Origin Dollar)
Ends 1/24 4 PM UTC | Application
RBLD (Robinland Holdings)
Ends 1/24 4 PM UTC | Application
TUSD-PSM (TrueUSD)
Ends 1/24 4 PM UTC 3 | Application
USDap (BondAppetit)
Ends 1/24 4 PM UTC | Application
Check out an ‘at-a-glance’ view of the current Vault types and their parameters on MakerBurn
Active Signal Requests
There are currently no active signal requests.
There are, however, five signal requests that are currently on-chain as active governance polls mentioned above:
Team Updates 📋
Protocol Engineering: Q4 Highlights and Looking Forward to 2022
SAS Core Unit | Unified Auctions UI Release v0.4.0 - 12-24-2021
Core Unit Office Hours
Join Link | GovAlpha - Mondays 17:00 UTC
Join Link | Protocol Engineering - Tuesdays 15:00 UTC
Join Link | Content Production - Wednesdays 15:30 UTC
Join Link | Growth - Wednesdays 17:00 UTC
Join Link | Sustainable Ecosystem Scaling - Tuesdays 15:30 UTC
Join Link | Governance Communications - Fridays 18:00 UTC
Mark your Calendar 📆
Governance & Risk
Join Link | Agenda - Thursdays at 17:00 UTC
In Case You Missed It
Governance and Risk Call #173
Video | Summary (coming soon!)
Useful Links ⚓
Forum and Maker Chat
Discuss and debate MakerDAO.
Public Calander
Subscribe for all public calls, votes, and other reminders.
Governance Portal
Voting dashboard for MKR voters.
Governance Tools
Library of useful links for Stakeholders; Protocol analytics, Dai analytics, collateral & liquidation metrics, governance history, and auctions data.
MIPs Portal
MIPs Dashboard for everyone.
Learning Portal and Technical Documentation
Learn more about the Maker Protocol.
Have Feedback? 🎙️
We value your input! Take our survey to let us know what we might be missing or how we can do better.
Disclaimer: This update is assembled by a group of contributing members in the MakerDAO community. This does not serve as financial advice or an inducement to vote in any specific way. This update is purely for information and communication purposes only.