---
tags: Weekly Relay
---

# Weekly Relay: April 19th - April 25th, 2022


_Hi everyone, thanks for checking out the Weekly Relay! Whether you hold MKR or DAI, own a vault, or want to get more involved in governance, this is your one-stop shop for MakerDAO updates._

###### The public PDF version is available [here](https://pdfhost.io/v/5txUEbb1i_Weekly_Relay_April_19_25_2022).
###### Show some love to our [Medium account](https://medium.com/@MkrGovComms) :heart:

##  Current Events

**[Ethereum DeFi Staple MakerDAO Adds StarkNet Bridge in First Step Toward Multi-Chain](https://www.coindesk.com/tech/2022/04/20/ethereum-defi-staple-makerdao-adds-starknet-bridge-in-first-step-toward-multi-chain/)**

Addressing the need for a cheaper, faster option for users, MakerDAO is bridging to StarkWare's zero-knowledge side chain StarkNet.

<details><summary>The bridge will be developed in four incremental phases:</summary><br>

1. **Simple bridge**: The first phase in the four-stage process involves building a simple bridge between the main Ethereum blockchain and StarkNet's Layer 2 network. The simple bridge will be released on April 28th.
2. **Fast withdrawals**: In the second phase, fast withdrawals leveraging Maker's "Wormhole" design will enable more users to withdraw from L2 to L1. Project engineer Louis Baudoin says transactions will execute "in a couple of minutes."
3. **Teleportation**: The third phase involves bridging between different Layer 2 networks, such as StarkNet and Arbitrum.
4. The fourth phase involves **rebuilding multi-collateral dai** on StarkNet.

<iframe width="560" height="315" src="https://www.youtube.com/embed/EHjBFhkfARg" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

On the security and risk management benefits of a phased rollout, Baudoin offers, “Obviously, there’s been a lot of testing done. It’s sensible to increase the bridge limit slowly so that the amount of money at risk is manageable, and also to have some emergency mechanisms in place internally to mitigate if there was a hack.”

Cointelegraph also [released](https://cointelegraph.com/news/makerdao-deploys-on-layer-2-network-starknet-to-enhance-functions-of-dai-stablecoin) their article on the StarkNet Bridge.

These articles were created thanks to the initiative of the Maker Brand Team with the help of @louismerkle from the StarkNet Core Unit.

</details>

##  This Week in Governance

### Maker Improvement Proposals (MIPs)

[Weekly MIPs Update #84](https://forum.makerdao.com/t/weekly-mips-update-84/14786) by @blimpa

The monthly-cycle Ratification Polls for April have closed. All passed with two exceptions:

- [MIP66: Pairwyse Licensure](https://mips.makerdao.com/mips/details/MIP66).
- [MIP40c3-SP63: COM-001 expanded budget](https://mips.makerdao.com/mips/details/MIP40c3SP63). ([MIP40c3-SP62](https://mips.makerdao.com/mips/details/MIP40c3SP62) passed instead).

All the proposals currently in RFC are eligible to enter the May Governance Cycle. There are no weekly-cycle proposals at the moment. The May Formal Submission Window opens on Monday 2 and closes on Wednesday 4. The Frozen Period (for monthly-cycle proposals with a seven-day Frozen Period) starts on Wednesday, 27.

### Executive Vote(s)

[Oracle Whitelist Additions, Replacing the Curve stETH/ETH Oracle](https://vote.makerdao.com/executive/template-executive-vote-oracle-whitelist-additions-replacing-the-curve-steth-eth-oracle-april-22-2022#proposal-detail)

<details><summary>This executive proposal passed on April 25th, and the following changes were made to the Maker Protocol:</summary><br>

#### Oasis.app Whitelists

As per the outcome of this [governance poll](https://vote.makerdao.com/polling/QmZykRSM#poll-detail), [Oasis.app](https://oasis.app/) was whitelisted on the following OSM Oracles:

<i>- ETH/USD
- WSTETH/USD
- WBTC/USD
- RENBTC/USD
- YFI/USD
- UNI/USD
- LINK/USD
- MANA/USD</i>

#### Replacing the Curve stETH/ETH Oracle

Due to [technical issues](https://forum.makerdao.com/t/14th-april-emergency-executive/14642), the Curve stETH/ETH oracle was replaced and reactivated by:

- Removing permissions on the previous oracle implementation.
- Adding permissions on the new oracle implementation.
- Replicating the whitelist for this oracle on the new implementation.

This action restored full functionality to the Curve stETH/ETH oracle and CRVV1ETHSTETH-A vaults.</details>

### Active Governance Polls

There are two active polls:

| Poll Name | Discussion |
| :-------: | :--------: |
| [Add wstETH-B as a new Vault Type](https://vote.makerdao.com/polling/QmaE5doB#poll-detail) | [Discussion](https://forum.makerdao.com/t/introduction-risk-parameters-for-wstETH-C-vault/14669) |
| [Extend Strategic Happiness Core Unit (SH-001) Budget Until May Governance Cycle](https://vote.makerdao.com/polling/QmVdxBE5#poll-detail) | [Discussion](https://forum.makerdao.com/t/signal-request-extend-shcu-sh-001-budget-until-may-governance-cycle/14511) |

*Check out [April 18th's](https://forum.makerdao.com/t/weekly-relay-april-12-18-2022/14691) issue of Weekly Relay for more information on the most recently concluded polls.*

### Community Greenlight Polls

There are two active community greenlight polls for the week of April 12 - April 18, 2022.

| Greenlight Poll | Current Vote Breakdown | Begin Date | End Date |
| :-------------: | :--------------------: | :--------: | :------: |
| [HVBANK (Huntingdon Valley Bank Loan Syndication Collateral)](https://vote.makerdao.com/polling/QmUVKBfr#poll-detail) |  | April 18, 2022 at 16:00 UTC | May 02, 2022 at 16:00 UTC |
| [sETH2 (Stakewise Staked ETH)](https://vote.makerdao.com/polling/QmV7zcMW#vote-breakdown) |  | April 18, 2022 at 16:00 UTC | May 02, 2022 at 16:00 UTC |

_Check out an "at-a-glance" view of the current Vault types and their parameters on [MakerBurn.](https://makerburn.com/#/rundown)_

### Active Signal Requests

**[Change `lid` Parameter on the Rate Limiter](https://forum.makerdao.com/t/signal-request-change-lid-parameter-on-the-rate-limiter/14688)**

The passing and introduction of the Rate Limiting Flapper have been successful, but it only allows to kick off a new auction if the new auction does not increase the total-DAI-currently-in-auction above a certain threshold - the `lid` unless it's at the same value as the `bump.`

Currently, the value for the lid is set to 150k Dai, which can run five flap auctions at once. However, ultraschuppi believes there is no good reason to burn so much MKR and proposes setting the `lid` to the same value as `bump` - 30,000 Dai. Having a 1:1 'lid' to 'bump' ratio will ensure that there is only one parallel flap auction running at any given time.

What's good about this is that in the case of a huge spike on the System Surplus causing spillage to the Surplus Buffer, the time spread of those resulting auctions will be 5x compared to the current setting thereby producing a more steady burn. However, in sacrifice, we will limit the maximum MKR burnt per day from 7.2MM Dai to 1.44MM Dai.

**Vote will run until May 13, 2022.**

<details><summary>Here are the current voting results:</summary></br>


</details></br>

**[Onboard D3M for TrueFi](https://forum.makerdao.com/t/signal-request-onboard-d3m-for-truefi/14563)**

TrueFi is signaling to onboard a D3M for a newly created TrueFi 3-month-maturity DAI lending portfolio with an initial debt ceiling of 50-100 million DAI. @RyanRodenbaugh, a member of TrueFi, states that this onboarding is in line with MakerDAO’s ‘[Aggressive Growth Strategy.](https://forum.makerdao.com/t/aggressive-growth-strategy/13958)’

Pros:

- Non-Crypto Lending Opportunities
- Customized Loan Opportunities
- Future Collaborations

Cons:

- Smart contract risk
- Multisig Risk
- Illiquidity Risk
- Compliance Risk

**Vote will run until April 25, 2022.**

<details><summary>Here are the current voting results:</summary></br>


</details></br>

##  Community Deep Dai-ve

### Tweet(s) of the Week

https://twitter.com/LucaProsperi/status/1517552029484335105

https://twitter.com/_PorterSmith/status/1517883389369626625

### Forum Insight

**[Launch of the New Collateral Status Index (CSI)](https://forum.makerdao.com/t/launch-of-the-new-collateral-status-index-csi/14723)**

The Collateral Engineering Services (CES) Core Unit has revealed the launch of the new Collateral Status Index (CSI).

Phase I of the Collateral Onboarding (COB) process addresses several issues that have come to light over the past few months. Priority changes were made regarding the transparency and communication aspects of the COB process, which remains under constant iteration and improvement.

<details><summary>CES will be posting a CSI update every Thursday before the Governance and Risk call. Each update will be divided into three sections:</summary><br>

1. **Collateral Application Status**: Lists all collateral application statuses before prioritization
2. **Prioritized Collateral** - Lists the "Up Next" status of collateral being onboarded
3. **The Work In Progress Collateral** - All collateral in the Assessment through Executive Vote execution


The [CSI spreadsheet](https://docs.google.com/spreadsheets/d/1PDf_CzhGa7mLuOUfX6Bz3WrnCjDRhIjmu-vDZMMw4Qc) is where you can find information about all the collateral moving through the COB process.

Spreadsheet data includes:

**Collateral Application Status before Prioritization**


**Prioritized Collateral**


**Collateral Work In Progress (WIP)**


CES has also created several different filters to make it easier to find the data you want to explore:


Questions or discussion about specific collateral should be posted directly to the forum as a collateral application forum post; general questions relating to each week's CSI update can be posted as comments on the relevant forum post.</details>

##  Meetings and Events

### Last Week's Call Recordings

- Governance and Risk | Ep. 187
- [Forum](https://forum.makerdao.com/t/governance-and-risk-187-thursday-april-21-17-00-utc/14708) | [Video](https://youtu.be/KukRFWrMOjs) | [Summary](https://medium.com/@MkrGovComms/governance-mips-forums-and-solving-governance-challanges-ethamsterdam-58afc21e6440)
- Focus on #9 | Dai Foundation Update
- [Forum](https://forum.makerdao.com/t/focus-on-9-dai-foundation-core-unit-update/14349) | [Video](https://www.youtube.com/watch?v=GDj-tHBrKhI)
- Focus on #10 | MIP6 vs. TradFi
- [Forum](https://forum.makerdao.com/t/focus-on-10-mip6-vs-tradfi/14628) | [Video](https://www.youtube.com/watch?v=ThYFPDsDbp8)

### Upcoming Calls

- Focus On #11: AMA with New Silver [date=2022-04-27 time=11:00:00 timezone="America/New_York"]
- [Forum](https://www.google.com/url?q=https://forum.makerdao.com/t/focus-on-11-navigating-real-estate-investment-markets-with-new-silver/14646&sa=D&source=calendar&usd=2&usg=AOvVaw3rSetBaLsBsCtKtoN9japk) | [Join Link](https://www.crowdcast.io/c/focus-on-11)
- Issue Discussion Call | Collateral Onboarding [date=2022-04-27 time=12:00:00 timezone="America/New_York"]
- [Forum](https://forum.makerdao.com/t/issue-discussion-call-6-collateral-onboarding/14751) | [Join Link](https://us02web.zoom.us/j/86164318106)

#### Governance & Risk

- [Join Link](https://zoom.us/j/697074715) | [Agenda](https://forum.makerdao.com/c/governance/gnr/8) - Thursdays at 17:00 UTC

#### Core Unit Office Hours

- [Join Link](https://us02web.zoom.us/j/82603350722?pwd=RThleVo5QlBRT1FuOWxiRCs3K0k2Zz09) | GovAlpha Governance Q&As - Mondays 17:00 UTC
- [Join Link](meet.google.com/frj-vpji-huc) | Immunefi Security - Tuesdays 00:00 UTC
- [Join Link](https://www.google.com/url?q=https://meet.google.com/bjm-qiup-hif&sa=D&source=calendar&ust=1620493080631000&usg=AOvVaw056SKuyQn3F67FAtJTPIbl) | Protocol Engineering - Tuesdays 15:00 UTC
- [Join Link](https://us02web.zoom.us/j/85252786103?pwd=bEZaZXdEcGlSWWd5bmpxMDBvVjdEUT09) | Sustainable Ecosystem Scaling - Tuesdays 15:30 UTC
- [Join Link](https://meet.google.com/sap-nttu-xga) | Growth - Wednesdays 17:00 UTC
- [Join Link](https://meet.google.com/kwf-qayf-xdq) | Real World Finance - Wednesdays 17:00 UTC
- [Join Link](https://meet.google.com/nio-jrqq-guu) | Governance Communications - Fridays 18:00 UTC

## ⚓ Useful Links

[Forum](https://forum.makerdao.com) and [Maker Chat](https://chat.makerdao.com)
Discuss and debate MakerDAO.

[Call Calender](https://calendar.google.com/calendar/u/0?cid=bWFrZXJkYW8uY29tXzNlZmhtMmdoaXBrc2VnbDAwOWt0bmlvbWRrQGdyb3VwLmNhbGVuZGFyLmdvb2dsZS5jb20) | [Votes & Event Calendar](https://calendar.google.com/calendar/embed?src=bdf4un05hpg0611lg3ieue4t3c%40group.calendar.google.com&ctz=America%2FNew_York)
Subscribe to both for all public calls, votes, and other reminders.

[Participation Tools](https://community-development.makerdao.com/en/learn/governance/participate)
Library of useful links for stakeholders: protocol analytics, DAI analytics, collateral & liquidation metrics, governance history, and auctions data.

[Governance Portal](https://makerdao.com/en/governance)
Voting dashboard for MKR voters.

[MIPs Portal](https://mips.makerdao.com/mips/list)
MIPs dashboard for everyone.

[Learning Portal](https://community-development.makerdao.com/en/learn/) and [Technical Documentation](https://docs.makerdao.com/)
Learn more about the Maker protocol.

### 🎙️ Have Feedback?

We value your input! Take our [survey](https://survey.sogosurvey.com/r/OBV0Y7) to let us know what we might be missing or how to 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 for information and communication purposes only.*

##### Credit

@nothsa
@Artem_Gordon