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# System prepended metadata

title: 'G&R #121 Snippet'
tags: [Snippets]

---

---
tags: Snippets
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# G&R #121 Snippet

Domain team updates, migration to DsChief v1.2, collateral onboarding calls, and active discussions. All the updates from MakerDAO Governance and Risk Call #121 in this `snippet` 

## Team Updates

### Smart Contracts

- DsChief v1.2 is waiting to launch. We need 80,000 MKR to secure the hat. There's no delay after, and we'll be able to use the new chief for next executive this Friday. [Go vote!](https://vote.makerdao.com/executive/activate-dschief-v1-2?network=mainnet#proposal-detail)
- Collateral Onboarding in Kovan for UNI, renBTC. AAVE, MIP 21 and UNI LPs going into Kovan next week.
- No work in priority sheet from Smart Contract team.
- Domain work in progress: MIP 21 (RWA for 6S), MIP 22, MIP 27 (Debt Ceiling Instant Access Module). 
- SamM is working on PSM, [the Foundation will not be involved with working on it all](https://forum.makerdao.com/t/foundation-statement-on-the-psm/5521), decentralization at it's finest!


### Oracles
- Published a [postmortem for the oracle outage](https://forum.makerdao.com/t/11-25-20-oracle-outage-post-mortem/5547) that took place on November 25. 
- Published oracle collateral assessments for 3 UNI LPs:[UNI-V2-DAI-ETH](https://forum.makerdao.com/t/uni-v2-dai-eth-collateral-onboarding-oracle-assessment-mip10c3-sp18/5499), [UNI-V2-WBTC-ETH](https://forum.makerdao.com/t/uni-v2-wbtc-eth-collateral-onboarding-oracle-assessment-mip10c3-sp20/5501), [UNI-V2-USDC-ETH](https://forum.makerdao.com/t/uni-v2-usdc-eth-collateral-onboarding-oracle-assessment-mip10c3-sp19/5500)
- Kovan oracles into staging environment, testing against different LP pairs. 
- Whitelisting proposal for YFI .
- After UNI oracles, in the home stretch, go out new years can start with the RWA oracles.

### Risk

- Published Collateral Risk Evaluations for [UNI-V2-WBTC-ETH](https://forum.makerdao.com/t/uni-v2-wbtc-eth-collateral-onboarding-risk-evaluation/5598), [CF-DROP](https://forum.makerdao.com/t/cf-drop-collateral-onboarding-risk-evaluation/5597), working on tBTC assessment.
- [PSM risk assessment](https://forum.makerdao.com/t/mip29-peg-stability-module-psm-risk-assessment/5504) published on the forum.
- [Rate changes proposal](https://forum.makerdao.com/t/rates-changes-proposal-7-dec-2020/5533) for December 7, 2020.
- Will focus on MIP 30: Farmable cUSDC Adapter (CropJoin) risk evaluation.

### Operations and Community Development

- Addressing domain team burnout, we're in a transition of responsibilities from Foundation to the DAO.
- Smart Contracts onboarded two contributors, Risk onboarded seven new contributors. There's new proposed domain facilitators. 
- Welcome Marvin! Joining as the Kleros/Maker Fellow.


### Collateral Onboarding

- B.Protocol + WFIL.network Collateral Onboarding [Replay](https://www.youtube.com/watch?v=CaDnKAlCpiM).
- Melon Protocol Collateral Onboarding [Replay](https://www.youtube.com/watch?v=_-I-awzCoyE). 
- Know Your MIP: MIP 30 Farmable cUSDC Adapter (CropJoin) [Replay](https://www.youtube.com/watch?v=o_PGILq2_ME).
- Next week's call is December 16 at 18:00 UTC, [Real World Assets Wrap-Up](https://forum.makerdao.com/t/collateral-onboarding-call-21-rwa-2020-wrap-up-rwa-2021-3-asset-originators-wednesday-december-16-18-00-utc/5588), three asset originators will be joining us. 

### MIPs

- @hexonaut proposed himself as a [Smart Contracts Domain Facilitator](https://forum.makerdao.com/t/mip7c3-sp6-domain-team-onboarding-smart-contracts-domain-team/5559).
- @Seb proposed himself as a [Risk Domain Facilitator](https://forum.makerdao.com/t/mip7c3-sp5-domain-team-onboarding-risk-domain-team/5476).
- Seven collateral types waiting executives coming up.
- Community Greenlight polls will run Dec 14-28.

## Other Discussions

### PSM

- Quantstamp audit is pending. Primoz added some risk parameters polls. 500 MM USDC is winning at the moment but we'd add more in 2021. 
- Spell is ready contracts are on Kovan, barring any issues, should be ready to go next week.
- Contingent on whichever debt ceiling wins, we would zero out the vaults since the PSM functions better.
- Additional module called `lerp` moves `tin` from 1% to .1% over a week. Anyone can call this function and it just sets the `tin` lower and lower until we hit .1 %. arbitrageurs will want to code this in as they arbitrage. 
    - Fun fact: it's called `lerp` as short-hand for linear interpolation.

## Peg

- DAI price trades has been consistent around 1.007 over the past few weeks. Volume is also distributing more, though there are decent chunks on Sushiswap and DyDx.
- The DAI supply fluctuates just above 1 billion.

