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# System prepended metadata

title: 'Forum at a Glance | December 8 - 14, 2022'
tags: [Forum at a Glance]

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tags: Forum at a Glance
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# Forum at a Glance | December 8 - 14, 2022

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

Welcome to the one-stop shop for everything discussed on the MakerDAO forum.

Summaries reflect our views of the most meaningful activities in MakerDAO. Disagree? Think something should be added? Leave a reply or send a PM.

*Authors: @nothsa and Artem Gordon*

<small>[PDF version]()</small>

---
## Three-Point Summary

<small>*‘What is the most relevant information on the forums this week for MKR and Dai holders?’*</small>

**1.** The Strategic Finance Core Unit has released a [dashboard](https://steakhouse.financial/makerdao-ledger) allowing anyone to dive deep into Maker's complete transaction history.

**2.** Maker's newest Recognized Delegate, Hong Kong University of Science and Technology (HKUST), has arrived. Check out their platform [here](https://forum.makerdao.com/t/hkust-epi-blockchain-delegate-platform-hkust/19113).

**3.** A [new MIP](https://forum.makerdao.com/t/mip13c3-sp13-declaration-of-intent-to-develop-a-comprehensive-on-chain-monitoring-solution-for-rwa-vaults/19095) aims to fund the development of a better monitoring system for RWA Vaults.

**Forum Recap:**

https://youtu.be/VwmNyKEjQOA

---
## :newspaper_roll:  Announcements & Updates

> [Maker Transaction Level Accounting Dashboard](https://forum.makerdao.com/t/maker-transaction-level-accounting-dashboard/19143)

> "We are focused on finding adequate representations of the underlying economic reality of an on-chain protocol, with adaptations to the choices we make for representing smart contracts."

The Strategic Finance Core Unit has used its experience analyzing MakerDAO's protocol-level financial data to build a dual-entry ledge for on-chain accounting. The team hopes the ledger's unique features—real-time data, being independently verifiable and auditable, and open-sourced categorization choices—will bring us closer to developing a "gold standard for DAOs."

The [dashboard](https://steakhouse.financial/makerdao-ledger) allows any interested party to dig into individual transactions at the hash level for any figure on the MakerDAO balance sheet.

SFCU welcomes feedback on this ongoing project.

> [November's Financial Report](https://forum.makerdao.com/t/financial-report-2022-11/19096)

The Strategic Finance Core Unit's monthly financial report for November 2022 is hot off the press.

In summary:

-   RWA Vaults are coming online with a strong presence of productive stablecoin PSM vaults
    -   MIP65 on track to deliver ~20M in annualized net interest income
    -   GUSD could deliver ~6M at current rates
    -   Blocktower could deliver ~6M at current rates
    -   MIP81 could bring another 15-30M at current updated rates, depending on Vault size
-   The DSR proposal passed, which could increase DAI expenses, depending on the amount of DAI locked
-   There is ongoing compression in crypto-lending driving low-net interest income from Vaults
    -   ~12M in annualized NTM net interest income

> [HKUST EPI Blockchain Delegate Platform](https://forum.makerdao.com/t/hkust-epi-blockchain-delegate-platform-hkust/19113)

[Hong Kong University of Science and Technology (HKUST)](https://forum.makerdao.com/t/hkust-epi-blockchain-delegate-platform-hkust/19113) enters the arena as Maker's newest Recognized Delegate with the following Core Values to drive their platform.

HKUST EPI aims to present value to the protocol by:

- Establishing a beneficial and friendly environment between Universities and Protocols.
- Developing innovative solutions through critical thinking.
- Educating the next generation about the benefits of blockchain technology in TradeFi.
- Supporting the protocol on Treasury, Budgeting, Process Streamlining, and Collateral Risk Management.
- And sharing their insights, industry knowledge, and experiences.

HKUST openly embraces the visions and innovation stemming from bleeding-edge technologies, and its students are actively encouraged to explore these new frontiers.

Focus will be placed on several initiatives, including: 

* Actively participating in forum discussions.
* Initiating new improvement proposals.
* Monitoring protocol news and updates.
* Seeking consultations with respective faculty members or with collaborating external parties.
* Communicating with internal team members.
* And offering public Q&A with their delegators.

Check out this [Meet Your Delegate call]() for a presentation and Q&A on their delegate platform. 

---
## :speech_balloon: Active Discussions & Proposals

> [Should Block Analitica have a \$2.76M/year + 2400 MKR risk management?](https://forum.makerdao.com/t/should-block-analitica-have-a-2-76m-year-2400-mkr-risk-management-monopoly-and-be-its-gatekeeper/19123)

This post from Recognized Delegate @pvl opens a discussion about the Risk Core Unit, its de facto control by private company Block Analitica, and whether the current risk model used by the team is appropriate.

Risk Core Unit Facilitator @Primoz [stepped in](https://forum.makerdao.com/t/should-block-analitica-have-a-2-76m-year-2400-mkr-risk-management-monopoly-and-be-its-gatekeeper/19123/2) to share his thoughts and defend the CU's work, and many others offered their feedback in the comments.

> [Tokenomics and Regulation](https://forum.makerdao.com/t/tokenomics-and-regulation/19128)

In this post, Recognized Delegate @CodeKnight asks what measures are planned for mitigating the legal implications of subDAO tokens potentially being classified as securities.

@rune [believes](https://forum.makerdao.com/t/tokenomics-and-regulation/19128/2) that subDAO tokens will not be considered securities provided that "real decentralization is in place," but CodeKnight [isn't convinced](https://forum.makerdao.com/t/tokenomics-and-regulation/19128/3).

### MIPs

> [SAS Spending Permission](https://forum.makerdao.com/t/request-to-poll-sas-spending-permission/19107)

The Sidestream Auction Services Core Unit submitted a budget approval poll after their previous budget was rejected by governance. The team has considered Recognized Delegate feedback and shifted gears to focus on contributing to the Endgame as a "trusted custom software development service provider for MetaDAOs."

> [Declaration of Intent to Develop a Comprehensive On-chain Monitoring Solution for RWA Vaults](https://forum.makerdao.com/t/mip13c3-sp13-declaration-of-intent-to-develop-a-comprehensive-on-chain-monitoring-solution-for-rwa-vaults/19095)

With this MIP, Recognized Delegate @rspa points out the need for robust on-chain monitoring of RWA Vaults. Monitoring is as much as [13 months behind](https://docs.google.com/spreadsheets/d/12VwbP0UxdL7Ck38SnwC-Ok8Pjo1O2F1Ryrf9gv7Mp88/edit#gid=1553817594).

> [Remove MIP14c4: Protocol DAI Transfer Ceiling](https://forum.makerdao.com/t/mip4c2-sp32-remove-mip14c4-protocol-dai-transfer-ceiling/19093)

This MIP from GovAlpha seeks to remove the DAI transfer ceiling set in place by MIP14, which defines the procedure for transferring DAI from the Maker Protocol to a target Ethereum address. Removing this limit avoids continually raising the ceiling via governance channels every month, an important consideration as GovAlpha expects MIP14 funding requests to increase during the transition to the Endgame.

> [Utilizing Hats Protocol](https://forum.makerdao.com/t/mip93-utilizing-hats-protocol/19088)

This MIP seeks to solidify a procedure for implementing [Hats Protocol](https://www.hatsprotocol.xyz/) for Maker roles and permissions. Hats provide a more formal, structured way to maintain real-time, on-chain, verifiable roles in the DAO.

This MIP contains four sub proposals:

![](https://i.imgur.com/xjekYG9.png)

---
## :bar_chart: Research, Reports & Assessments

> [MIP81 Coinbase USDC Institutional Awards](https://forum.makerdao.com/t/rwa0xx-mip81-coinbase-usdc-institutional-awards-interim-ces-domain-team-assessment/19171)
<small>by Interim CES Domain Team</small>

A technical assessment on two alternative implementations of MIP81 has been published by the Interim CES Domain Team. 

In the first alternative, MIP65 is implemented in a traditional custodial arrangement managed by a Real World Arranger through resolutions approved by Maker Governance. 

The second alternative is to implement a Safebox, which requires further development to comply with Coinbase's legal and regulatory requirements. In addition, Safebox implementation provides the added benefit of improving on-chain transparency and enabling transfers to be completed on-chain without the involvement of any RWA counterparty.

Institutional rewards will have to be validated off-chain in both implementations.

Check out the complete assessment [here.](https://forum.makerdao.com/t/rwa0xx-mip81-coinbase-usdc-institutional-awards-interim-ces-domain-team-assessment/19171)

---
## :building_construction: Ongoing Initiatives

<small>‘Oh my god, this is taking ages; why can’t things be simple?’</small>

[Maker Operational Manual](https://manual.makerdao.com/) - GovAlpha Core Unit releases the launch of the Maker Operational Manual and invites all members and Core Units to reach out if they wish to provide any help or documentation to add to the Manual.

[Off-Chain Proposal Bounties](https://manual.makerdao.com/governance/offchain-incentives/proposal-bounties) - MakerDAO rewards classes of governance action that result in measurable changes to the way the Maker Protocol or MakerDAO operates.
This link provided describes how this incentivization mechanism operates.

[Recognized Delegate Requirements](https://forum.makerdao.com/t/recognised-delegate-requirements/9421) - LongForWisdom writes a detailed overview of the current requirements and application system to become a delegate in the Maker community. Check out this [thread](https://forum.makerdao.com/search?expanded=true&q=%40LongForWisdom%20%23governance%3Adelegates) for more posts related to delegation.

[Where to Find Opportunities at MakerDAO](https://forum.makerdao.com/t/where-to-find-opportunities-at-makerdao/10076) and [Open positions at MakerDAO](https://forum.makerdao.com/t/open-positions-at-makerdao/12197) - Looking for job opportunities at MakerDAO? Perfect! Davidutro and manomad set up individual threads containing resources to help find available job listings and hiring practices. *Please comment on the thread if anybody has additional information on unique hiring practices or job listings.*

[Collateral Status Index](https://docs.google.com/spreadsheets/d/1PDf_CzhGa7mLuOUfX6Bz3WrnCjDRhIjmu-vDZMMw4Qc/edit#gid=1077340672) - Confused about the current status of the various collateral types discussed recently? Check out this sheet to determine the status and current position within the onboarding process.

[Weekly MIPs Updates](https://forum.makerdao.com/tag/mips-update) - GovAlpha brings the latest updates in MIPs.

[The Official Welcome Thread](https://forum.makerdao.com/t/the-official-welcome-thread/771/4) - A thread for welcomes and introductions. Not strictly governance, but if anyone new or old wants to introduce themselves, now is your chance!

## 🆘 Help Wanted

<small>‘Oh %#\$?, we need a doodad, and we need it now.’</small>

We could always use help reviewing [MIPs in the Request for Comment phase](https://forum.makerdao.com/tag/rfc).

---

### Disclaimer

<small>*Disclaimer: This update is assembled by a group of members in the MakerDAO community. This does not serve as financial advice or an inducement to vote in any specific way. This update is for information and communication purposes only.*</small>

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