Maker Relay | Episode 75
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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 🍵
Final Maker Relay of 2021
As this will be the final Maker Relay of 2021, the Maker Relay team would like to thank readers for their support and wish you all a wonderful holiday season! 🎄
Please be sure to check out Governance Over the Holiday Break - 2021/2022 by @LongForWisdom for MakerDAO’s holiday governance schedule.
MakerDAO initiates delegate compensation
With the passage of the December 2nd Executive Vote, MakerDAO has transferred a total of 35,834 Dai to four Recognised Delegates.
Sorbet Finance UI vulnerability discovered
A vulnerability has been discovered in the Router contract used by the Sorbet Finance UI and funds have been whitehat hacked to a secure location.
Unfortunately, some wallets still have the contract approved to spend tokens. This does not directly affect MakerDAO’s integration with G-UNI but the Gelato team is requesting that all G-UNI users revoke token approvals for wallets that have interacted with the Sorbet Finance UI.
For reference, the contract can be located at: 0x14e6d67f824c3a7b4329d3228807f8654294e4bd
This Week in Governance 🗳️
Active Executive Votes
There is currently no active executive vote. The most recent executive vote (below) was active and passed on December 11th. It was executed on December 13th.
However, all 48 executive votes were successfully passed for the year of 2021!
Active Governance Polls
Recognised Delegate Compensation Trial Performance Modifier
DAI Direct Deposit Module (D3M) Net Rates Spread
DAI Direct Deposit Module (D3M) Debt Ceiling Targeting
Community Greenlight Polls
G-UNIv3-DAIUSDP (Gelato UniswapV3 DAI-USDP LP Token)
aUST (Anchor TerraUSD)
Check out an ‘at-a-glance’ view of the current Vault types and their parameters on MakerBurn
Active Signal Requests
Should Maker Prioritize Onboarding A Compound D3M? - Signal Closes December 17th - @GFXlabs, in consultation with the @Growth-Core-Unit and prominent Compound community members, is signaling to prioritize onboarding a D3M for the Compound DAI market in hopes to grow revenue, diversify counterparty risk, and demonstrate the MakerDAO does not favor Aave.
Adjust minimum bid increase(beg) and lot size (bump) on flap-auctions - Signal Closes December 31st - Data shows that there are some inefficiencies when it comes to how we buy back MKR such as buying 3.62% over market price. @JustinCase proposes to lower the beg to retain more value to be burned. In order to offset some of the disadvantages, @JustinCase would at the same time propose to increase the lot size.
The final executive proposal for 2021 passed, and the following changes occurred within the Maker Protocol:
Replacing MKR Vesting Streams:
As per this successful governance poll, the following MKR vesting streams are canceled and replaced by streams funded by the Protocol Treasury (Pause Proxy).
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
Mark your Calendar 📆
Governance & Risk #172
Core Unit Launch Pod Session #22: TechOps Core Unit
Issue Discussion #3 | MKR Burn and the Surplus Buffer
Lex Maker #2 | System of a DAO: A Legal Framework for Decentralized Autonomous Organizations
In Case You Missed It
Governance and Risk Call #171
Meet Your Delegate #8 feat. ACREinvest
Useful Links ⚓
Subscribe for all public calls, votes, and other reminders.
Voting dashboard for MKR voters.
Library of useful links for Stakeholders; Protocol analytics, Dai analytics, collateral & liquidation metrics, governance history, and auctions data.
MIPs Dashboard for everyone.
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.