Maker Relay Ep 72
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👓 Here’s the breakdown:
Current Events 🍵 | This Week in Governance 🗳️ | Team Updates 📋
Mark your Calendar 📆 | Useful Links ⚓ | Have Feedback? 🎙️
Current Events 🍵
Governance announces holiday break
GovAlpha Core Unit Facilitator @LongForWisdom has announced the winter holiday schedule for non-emergency governance processes.
Coverage will be normal until the week of December 13th, when non-emergency Executive Votes will be paused, meaning the last Executive will likely take place on December 10th. The final Maker Relay of the year will be published on December 13th as well. The last Governance and Risk call of the year will take place the following week on December 16th.
Harbor makes the world’s largest trade finance transaction funded with a stablecoin in its initial use of a MakerDAO credit line
MakerDAO’s Real-World Finance Core Unit is excited to welcome Harbor (HTC-DROP) as the fourth active Real-World Asset.
Harbor borrowed 2MM Dai and currently has a debt ceiling of 7MM. According to Harbor, this represents the world’s largest trade finance transaction funded with a stablecoin.
Dai trades at a premium in Argentina
Pointed out in CryptoPotato and confirmed by the Maker Relay team, Argentinians who want to buy Dai with Pesos are paying a significant premium for their purchases.
The Argentinian government limited the number of US Dollars citizens can purchase with pesos to $200 a month in September 2020. Limiting the number of US dollars that can be purchased makes stablecoins like Dai more attractive.
A lot more attractive. Argentinians purchasing Dai with dollars are paying between $1.05 and 1.12 at the time of writing; those purchasing Dai with pesos are paying anywhere from 207.80 to 250.18 pesos for Dai compared with ~100 Argentinian pesos to convert to US dollars.
This Week in Governance 🗳️
MIPs
Active Executive Votes
There is currently no active executive vote. The most recent executive vote (shown below) was active on November 19th and passed on November 20th. It was executed on November 22nd.
Active Governance Polls
Add a GUSD Peg Stability Module
Increase the System Surplus Buffer
Add WBTC-C as a new Vault Type
Increase the Aave D3M Maximum Debt Ceiling
Community Greenlight Polls
SB-frOGI (SolidBlock Red Frog Digital Coin)
MONETALIS (Monetalis Wholesale SME Green Growth Lending)
Check out current Vault types and their parameters on MakerBurn.
Active Signal Requests
[G-UNI DAI / USDC 0.01% tier] Onboard G-UNI for UniV3’s new 0.01% fee tier - Signal Closes November 25th - @kassandra proposes to onboard a G-UNI DAI / USDC 0.01% fee tier as a Maker Collateral type to help stay competitive. He provides proposed tick ranges and asks the community whether they want to onboard a G-UNI DAI/USDC 0.01% pool.
One-time Payment to COM-001 to Cover Missing DssVest Funds - Signal Closes November 26th - The original DSSVest stream for the Governance Communications Core Unit was configured incorrectly, resulting in an unclaimed 39,300 Dai. Initially, the team believed they could slide through their 4-month stream period using the buffer and other savings. However, legal services and additional expenses recently arose, which pushed @Davidutro to formally ask the community whether they support a one-off governance request for a one-time payment of 27,058.33 Dai.
Burn Baby Burn! [Burn The MKR Treasury] - Signal Closes November 26th - @aburban90 asks the community to burn half of MKR in the treasury and use the remainder to vest Core Units.
Should We Mint New MKR for Protocol Expenses or Fund Them With MKR from the MakerDAO Treasury? - Signal Closes November 27th - There is no clear indication about what should be the source of the MKR used for future expenses. @mkrorbkr presents two options: Use MKR from the MakerDAO Treasury or Mint new MKR using the PauseProxy.
Adjusting Dust Parameter - Signal Closes November 25th - With gas and ETH prices continuing to go up, our dust limits offer less protection against losses. In response, @monet-supply proposes whether we should increase dust limits for all Vault types.
Previous Executive
Onboarding WBTC-B, Increasing WBTC-A Stability Fee, Change of Covenants for P1-DROP, Offboarding Collaterals. Posted on November 18, passed on November 20.
Team Updates 📋
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
Office hours may be suspended this week due to the Thanksgiving holiday.
Mark your Calendar 📆
Governance & Risk
Join Link | Agenda - Thursdays at 17:00 UTC
Maker Explorer #1: Real-World Sandbox Grant Report
Join Link | Agenda - Wednesday, November 24th at 16:00 UTC
Meet Your Delegate #7
Join Link | Agenda - Wednesday, November 24th at 17:00 UTC
In Case You Missed It
[AMA] Learn About Maker Wormhole with Protocol Engineering | AMA Ep. 12
Core Unit Launch Pod Sessions | Session #21: Immunefi Security Core Unit
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.