---
# System prepended metadata

title: Kiss CVC
tags: [Monthly Scope update]

---

---
tags: Monthly Scope update
---

# Kiss CVC

## 2023-05-11 (MIP107, MIP108 + MIP102)
[Video](https://drive.google.com/file/d/1KK22GvRRRqVRCE6_DGatjnifbtHf5WtX/view)
[Chat](https://discord.com/channels/893112320329396265/1096472659090485299)

- [Position Document for MIP106](https://cryptpad.fr/pad/#/2/pad/view/FRP1lNmO9OiumvoWQ2wtzAefk+2tta0hXv9MUVtBpy4/)
    - Approved. Final proposition will come with quarterly publication.
 
- Changes to MIP102

### FlipFlapFlop presentation 
MIP107
Summary of MIP107 main sections
- Scope improvement
    - outline formation/funding of Protocol AC
- NewChain protocol specification, maintenance and upgrades
    - budget
        - inmediate budget: 1M Dai 
        - relative budget: 9M Dai
    - blockchain requirements
- Newchain native governance and neural tokenomics
    - incubator system creating allocator and facilitator subDAOs 
- Two-stage bridge
    - the fallback multisig
- Developer tools and support
- NewChain halt
    - emergency halt module
- SubDAO Frontend client diversity
    - NewChain client diversity
- The Dai Stablecoin
    - must remain permisionless
    - no blacklist functionalities, cannot be seized or frozen
- Scope bootstrapping
- Ethereum Core Protocol development
    - NewStable 1:1 wrap from and to Dai
    - NewGovToken
    - farming of SubDAOs' tolens
- Governance security engineering work
- Ethereum Core Protocol maintenance and upgrades

- Kiss Focus: AC
- [Chat comments](https://discord.com/channels/893112320329396265/1096472659090485299)
- strong background in smart contract engneering, DeFi experience
- get external advice to greenlight NewChain
- new engame phase we cannot ask community feedback for each step. Either all in with endgame or all out.
- find constructive ways to serve as CVC
- Focus: which kind of AC we want
- Is there a delivery deadline for NewChain

MIP108: Accessibility Scope
- Conversations that happened on the Resiliency CVC with Mariano from Growth
- Scope improvement: accessibility, responsibilities to advice, how AC are selected (skills, conflict of interest, etc), governance to vote on AC
- Branding: newchain, newstable, new govtoken should be launched at the same time
- Dai and MKR remain as valid - no brand presence
- Accessibility Reward 
    - EA that hold NewStable will earn a reward if they follow brand guidelines
- Accessibility Communication Channels
- Accessibility Campaigns
    - longterm framework for campaigns
- SubDAO frontend standards
    - security: decentralized
    - good user experience
    - available in a fully decentralized downloadable format
    - location filter
- EGF requirements
- Marketing discussions
- Challenge: Anonimity for Delegates
    - Maker should support transition
    - PaperImperium voted against

@0XDefensor video on MIP108

Chat:
MIP107
- The Purpose System
- Rates: the base rate, Dai savings rate,

MIP102
Changes to Delegate's compensation, requirements

## 2023-04-20
    
Today (Step 5 in the Workflow above), the AD’s following KISS came to the meeting and expressed their ideas on the MIP(s) of the day (103+104+105). We found that all AD’s agrees on the following critical points that should be included in the Kiss Position Document:

Focus on Council Members
Expand Arranger Pools.
Increase Minimum reserves: from today’s ~10% ~20% to something like 33% for safety.
Express in the position document some general sentences expressing the need to make actions to enforce: bug-free MIPs and that all people involved follow the rules of the protocol.
We will publish our (draft of) Position Document on MIP 103+104+105 as soon as we reach a final consensus on it. Hopefully before the next meeting.

Topics of the day:

![](https://i.imgur.com/KhTsNL7.png)

New Delegates following KISS
![](https://i.imgur.com/5ukjzF1.png)

Lessons from first weeks
![](https://i.imgur.com/qlUIrg3.jpg)


Workflow
![](https://i.imgur.com/tr4TLh1.png)

Meeting after meeting we will produce a Position Document for each Scope
This week MIP103 + 104 + 105
    - Position Document should be ready by next Monday


### Discussion with ADs
Your edits on the Position Document:
- Why do you think they are good for MakerDAO?
- Why do you think they follow KISS philosophy?
- Other points you want to raise?

Vigilant
AVC should approve each line in the position doc
Maybe at the beginning of the following week
First approvals/denials should happen during this meeting

KISS: 
Agree. Pre-vote happening and a big vote at the end of the week to formally accept the position docs.
There are some times when AVC members will not be able to participate.

### 3F Good Meta Presentation
![](https://i.imgur.com/9ErXlxS.jpg)
- Importance of integrating AI and ML technologies 
- Enhance risk management capabilities supporting stability and growth

![](https://i.imgur.com/jZPb1er.png)
MIP105: RWA Collateral Scope Framework
- Expand the Arrangers in the Asian-Pacific region
    - West is not welcoming decentralization
    - Hong Kong is becoming a decentralization hub
- Expansion of the definition of an Arranger
    - now: focus on stable assets (usdc)
    - explore different rwa deployment deals


![](https://i.imgur.com/FdLdTWe.png)
MIP104: Decentralized Scope Framework
- Engage headhunters or executive search firms to hire Stability ACs
- ACs will then focus on ALM strategies
- Using AI and ML for optimizing risk management

![](https://i.imgur.com/a8OL2DR.png)
MIP103: Stability and Liquidity Scope Framework
These three scopes:
    - can be integrated vertically
    - can all use AI and ML to enhance risk management capabilities
    
![](https://i.imgur.com/F6P4B0C.png)
MIP106: next topic

Comments from KISS:
- Simplicity and focusing on what works
- AI will produce amazing things in near future. Many ideas will fail though.
- MakerDAO is really exploring and innovating.
- Invest in AI research might not be a good idea now. Unless AI is part of our core businness. 

### PaperImperium
1) Revise the current mandate for minimum reserves
- Numbers are arbitrary: 10% cash stable coin and 10% secondary yield-bearing stable coins 
- Revise it to set historical basis, idiot-proof research ratio, until we get experts on ALM to fix it. 
- Put a floor on the available liquidity to ensure Dai does not suffer a bankrun resulting in bad user experience
- Replace the 20% for a 33% - at least temporarily

2) Increase the number of Arrangers
- Concentration is growing rapidly
    - Diversity of Arrangers: we need more than two
    - Based on deployed capital: one arranger structure holds around 70% of the concentration amongst the two Arrangers
    - If all soon-to-be approved initiatives are deployed, it will go to 80%
- As Arrangers' structure scales, transparency and safety requirements should increase.

### Mhonkasalo
- Agree with PaperImperium
- 33% of Minimun Reserves ratio will give room to the protocol to make use of the reserves
- Arrangers: I'd like to see activity with Credix that put up a [good proposal](https://forum.makerdao.com/t/maker-arranger-proposal-credix-finance/20517)
    - 3F Good Meta : Who will address this post? If it is a new Arranger, as an Asset Manager, as a SubDAO or cluster?
    - PaperImperium: Good questions. The differences between Arrangers and Asset Manager is unclear.

### Vigilant

- The amendments to MIP102- will no longer list Asset managers
- Dai should maintain the peg allowing max 10% for a few days
- Priority: Hire AC to advise on how to classify the average collateral
- Add explicit commitments of relevant actors (mostly Facilitators) to the Scopes. Apply pressure making sure actors follow the scopes
    - PaperImperium: SES is charged of being facilitator for three scopes. Signs they are already overwhelmed.
- Make RWA scope more transparent and more bug free


KISS Conclusion for Position Doc - all ADs agree:
Expand Arrangers
Expand Minimum Reserves to over 30%
Make sure rules are followed, report bugs on Scopes


Conditions for KISS to ban a AD
- ADs have been extremely helpful so far
- Not in our radar
- If an ADs goes against something we agreed on: warning, then ban through a vote
    










## 2023-04-27
[Video](https://drive.google.com/file/d/1aEqhPbindT-wZM7GjaHrhPtY9VpkRHIW/view)

Delegates following KISS CVC's strategy
![](https://i.imgur.com/QBIQs7k.png)
