---
# System prepended metadata

title: Maker Relay 22
tags: [Maker Relay]

---

---
tags: Maker Relay 
---
# Maker Relay 22

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

_Hey everyone, thanks for checking out Maker Relay!_

Whether you hold Maker (MKR) or DAI, own a vault, or want to get more involved in MakerDAO governance, this is your one-stop-shop for updates on the MakerDAO ecosystem. 

## Votes

Check our [Governance Tools Resource](https://en.wikipedia.org/wiki/Instant-runoff_voting) for links to tools that articulate system status, Dai stability, collateral & liquidation metrics, protocol analytics, auctions, and governance history.


### Weekly Governance Cycle

*Some polls use [instant run-off voting](https://en.wikipedia.org/wiki/Ranked_voting), so you can select multiple options, and ranked-choices will be prioritized.*

| Poll Name | Vote | Discussion | (Current) Unique Voters |
| --------- | ---- | ---------- | ------------- |
| Accelerate the Peg Stability Module Launch | [Vote](https://vote.makerdao.com/polling/QmatZKgo?network=mainnet#poll-detail) | [Discussion](https://forum.makerdao.com/t/signal-request-accelerate-the-psm-launch/5094) | 8 |

#### Community Greenlight Polls

The greenlight polls will close on [Nov 30] at [4:00] UTC.

| Collateral | MIP9 Poll                                           | MIP6 Application |
| ---------- | --------------------------------------------------- | ---------------- |
| NEXO (NEXO) | [Vote](https://vote.makerdao.com/polling/QmTB65qm?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/nexo-mip6-collateral-onboarding-application/4236)  |
| YFII (DFI.money) | [Vote](https://vote.makerdao.com/polling/QmXHkyuc?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/yfii-mip6-collateral-onboarding-application/4864)  |

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

#### Last Week

Executive Vote: [Increase YFI-A Debt Ceiling, Increase Dust Parameter for all Vault-Types](https://mkrgov.science/executive/0x8d602692ee4b5f0ec33a22fe6547822377fdcc4c)
- **Passed** on Nov 21 14:26 UTC, excecuting on Nov 24 14:25 UTC
    - **24** unique voters staked **79,677.39** MKR
- YFI-A Debt Ceiling increased from 7 million DAI to 20 million DAI.
- Global line parameter increased from 1,468,750,000 DAI to 1,481,750,000 DAI due to the change to the YFI-A debt ceiling.
- ETH-A, USDC-A, WBTC-A, TUSD-A, PAXUSD-A, YFI-A, LINK-A, BAT-A, ETH-B, LRC-A, MANA-A, ZRX-A, KNC-A, COMP-A, BAL-A, USDT-A, USDC-B, GUSD-A (dust) Parameters have all increased from 100DAI to 500DAI

Polls: 

- [Lowering Stablecoin Stability Fees](https://vote.makerdao.com/polling/QmcALf82?network=mainnet#poll-detail) ended on a vote for **No Change**
- [Monthly MIPs Poll](https://vote.makerdao.com/polling/QmWaNdbq?network=mainnet#poll-detail) passed and will push through to an executive with these MIPs: 
    - 4c2-SP6 (Calendar Exceptions)
    - 13c3-SP6 (SourceCred Funding) 
    - 24 (Emergency Voting System)
    - 25 (Flash Mint Module)
    - 27 (Debt Ceiling Instant Access Module)
    - 28 (Operational Support Domain Definition)
    - 28c7-SP1 (Operational Support Domain Facilitator Onboarding). 

#### Signal Requests

- [Adjust the ETH-B Debt Ceiling](https://forum.makerdao.com/t/signal-request-adjust-eth-b-debt-ceiling/5282)

## Updates

### MIPs

 [Weekly MIPS Update #21 (Nov 18)](https://forum.makerdao.com/t/weekly-mips-update-21/5222)

Proposals in the Request-For-Comments phase include:

- [MIP17: Weekly Actual Debt Ceiling Adjustments](https://forum.makerdao.com/t/mip17-weekly-actual-debt-ceiling-adjustments/4312/3)
- [MIP26: DssGov - Governance Contract Redesign](https://forum.makerdao.com/t/mip26-dssgov-governance-contract-redesign/4589/28)
- [MIP29: Peg Stability Module](https://forum.makerdao.com/t/mip29-peg-stability-module/5071/16)
- [MIP30: Farmable cUSDC Adapter (CropJoin)](https://forum.makerdao.com/t/mip30-farmable-cusdc-adapter-cropjoin/5163)

Sub-Proposals in the Request-For-Comments phase include:

- [MIP13c3-SP7: Governance Communications (Declaration of Intent)](https://forum.makerdao.com/t/mip13c3-sp7-governance-communications-declaration-of-intent/5028/2)
- [MIP13c3-SP8: Maker Protocol Cover with Nexus Mutual (Declaration of Intent)](https://forum.makerdao.com/t/mip13c3-sp8-maker-protocol-cover-with-nexus-mutual-declaration-of-intent/5056/4)


The Maker Improvement Proposal (MIPs) Framework provides a clear process for Maker governance to change the Protocol as needed.

*Learn more about [Maker Improvement Proposals (MIPs)](https://forum.makerdao.com/c/MIPs/14)*

### Smart Contracts

- UNI and AAVE collateral assessments are in the final review.
- PAXG charges a fee on transfer (also applies to Tether), will be putting PAXG off until 2021.
- [Documentation for collateral onboarding is done and posted.](https://forum.makerdao.com/tag/sc-domain-work)
- [Tentative schedule for year-end is up on the forum](https://forum.makerdao.com/t/2020-year-end-schedule/5218)
- Auditors for Liquidations 2.0 will be announced this week.
- [Timeline for DSChief 1.2 revealed](https://forum.makerdao.com/t/dschief-1-2-flash-loan-protection-for-maker-governance/5115)
    - ![](https://i.imgur.com/UW3LOBq.png)


#### Token Smart Contract Assessments

- [UNI-V2-USDC-ETH](https://forum.makerdao.com/t/uni-v2-usdc-eth-erc20-token-smart-contract-technical-assessment/5012)
- [UNI-V2-DAI-ETH](https://forum.makerdao.com/t/uni-v2-dai-eth-erc20-token-smart-contract-technical-assessment/5013)
- [PAXG](https://forum.makerdao.com/t/paxg-erc20-token-smart-contract-domain-community-assessment/3443)

### Oracles 

- Kovan deploys for oracles for PAXG, UNI, AAVE, on track to get them by the end of the year (except PAXG).
- Oracle assessments for renBTC and tBTC are coming soon.
- If protocols choose to use another oracle in their MIP6, a reminder that they’ll need to be aware of Maker’s oracle system.

### Risk

- Finalize UNI LP’s, publish assessments by Dec 4 for onboarding on Dec 18.
- [@Seb posted updates for RWA - Last 2 months review, updates and looking forward](https://forum.makerdao.com/t/rwa-last-2-months-review-updates-and-looking-forward/5225/)

## Current Events

### Collateral Onboarding Handbook
- Introducing [Collateral Onboarding Handbook](https://forum.makerdao.com/t/introducing-the-collateral-onboarding-handbook/5134)
- [collateral.makerdao.com](https://collateral.makerdao.com/) is a go-to resource for all information about Maker Protocol collateral onboarding.

## State of the Peg

![Peg](https://i.imgur.com/P4huo2R.png)

- DAI peg has been hovering closer and closer to the true peg. As low as 1.001 and up to 1.003.

![Dai stats 1](https://i.imgur.com/G2HLcs9.png)

- Dai dipped below a billion but back up again. More ETH vaults than USDC at the moment.
    - 410 million from ETH-A
    - 7 million from ETH-B
    - 2.9 million from BAT
    - 392 million from USDC
    - 116 million from WBTC
    - 52 million from TUSD
    - 21 million from PAX-A
    - 5.8 million from LINK
    - 6.9 million from YFI (20 million ceiling incoming) :eyes: 

![Dai stats 2](https://i.imgur.com/w6VQZHQ.png)

![Dai stats 3](https://i.imgur.com/SfgXpCN.png)

- Other vault types total about 1.2 million.

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

- Volume at around $333 million this last week 📈 . 
- Average VWAP (Volume-Weighted-Average-Price) places Dai at $1.001. :arrow_heading_down: 

![](https://i.imgur.com/H8WB3VI.png)

- ETH vaults collateralization ratio rising with the price rally. 

![](https://i.imgur.com/md7twkV.png)

- Liquidation Walls at $324 ETH.
 
![](https://i.imgur.com/eIvVrBC.png)

- Witness the steepness, where a $6 price decline pushes liquidations off the cliff.
- Other vaults collateralization ratios are close to 200% (WBTC, LINK, etc.) and require a much more significant price decline to be relevant threats.

https://daistats.com/#/ | http://dai.descipher.io/ | https://makerburn.com/#/ 

## Community

### Articles
- [How Ethereum 2.0 Will Address Gas Issues and Enable Dai and DeFi to Scale](https://blog.makerdao.com/how-ethereum-2-0-will-address-gas-issues-and-enable-dai-and-defi-to-scale/)
- [AMBCrpyto: A Few Reasons Why You Need to Take DeFi Seriously](https://eng.ambcrypto.com/a-few-reasons-why-you-need-to-take-defi-seriously/)
- [Crowdfund Insider: DeFi Tokens Aave and YFI Continue to Rally as Institutional Investors back Decentralized Finance Iniatives](https://www.crowdfundinsider.com/2020/11/169387-defi-tokens-aave-and-yfi-continue-to-rally-as-institutional-investors-back-decentralized-finance-intiatives-report/)

### Videos
- [¿Qué es Dai? Una stablecoin descentralizada perfecta para Venezuela - ¿Cómo funciona? DAI VZLA 🇻🇪](https://youtu.be/Nno4F3TfohM)
- [Chris Mooney discusses DSChief 1.2 with on MakerDAO Community Call](https://www.youtube.com/watch?v=JkKAQo32bp4)


### Maker Forum Deep Dai-ve

- [Surplus Auctions UI](https://forum.makerdao.com/t/surplus-auctions-ui/5283)
    - *There is now a simple UI available that permits you to track and participate in Maker Surplus Auctions in real-time easily! Check it out [here.](https://auctions.makerdao.com/flap)*
- [Cooperation intent from a Software House](https://forum.makerdao.com/t/cooperation-intent-from-a-software-house/5279)
    - *[@smaugho](https://forum.makerdao.com/u/smaugho) has posted to begin a discussion surrounding incorporating a(their) software development team/company into the MakerDAO community potentially.*
- [Increasing SourceCred Payouts](https://forum.makerdao.com/t/increasing-sourcecred-payouts/5217)
    - *A decision has been made to raise payouts from 2500 DAI to 5,000 DAI; this post provides more information on how and why this happened.*

### Tweet of the Week

@monetsupply points out that @longforwisdom is amaze

https://twitter.com/MonetSupply/status/1329870431919063042?s=20


## Meetings and Events

### MakerDAO Open Calls

#### Community Call

- Tuesdays 9AM PST | 10AM MST | 12PM EST | 5PM UTC |  6PM CET | [Crowdcast](https://www.crowdcast.io/e/the-makerdao-community/register)

#### Community Collateral Onboarding

- Wednesdays at 18:00 UTC | [Zoom](https://us02web.zoom.us/j/82526996403) - Message [#governance-and-risk](https://chat.makerdao.com/channel/governance-and-risk) for Admission
    - [Introduction](https://forum.makerdao.com/t/collateral-onboarding-call-bi-weekly-on-wednesday-at-17-00-utc-19-00-cet-10am-pst/3614) | [Collateral Status Index](https://forum.makerdao.com/t/collateral-status-index/2231)
    - [Agenda](https://forum.makerdao.com/t/collateral-onboarding-call-17-blocksquare-io-wednesday-november-25-18-00-utc/5234) for Wednesday, November 25 18:00 UTC with Blocksquare.io
    - [Real estate tokenization protocol: A Pre-MIP Discussion](https://forum.makerdao.com/t/real-estate-tokenization-protocol-a-pre-mip-discussion/5169)


#### Governance & Risk

- Governance and Risk call is [canceled this week](https://forum.makerdao.com/t/cancelled-scientific-governance-and-risk-meeting-thursday-november-26/5236). Happy Thanksgiving to those who celebrate!  

### Community Events
- Nov 24: [Join the Community Call with @twblack88 and @SebVentures to discuss Strategic reserves fund (SRF)](https://github.com/makerdao/mips/blob/formal-submission/MIP13/MIP13c3-Subproposals/MIP13c3-SP3.md)
- Nov 24: [Elevating New Nordic Fintech Innovation in Japan](https://www.eventbrite.com/e/elevating-new-nordic-fintech-innovation-in-japan-tickets-125304638547)
- Dec. 9-10: [Paris Blockchain Week Summit](https://www.pbwsummit.com/)

### Hackathons
- Nov 27: [DeFi Madrid hackathon](https://defi.madrid/)
- Dec 1: [BlockBali](https://www.blackarrowconferences.com/blockbali2020.html)


## Reference Links

Discuss and debate Maker governance in the [Forum](forum.makerdao.com) and over [Maker Chat](https://chat.makerdao.com/)

Propose technical changes, poll, and vote in the [Governance Portal](https://makerdao.com/en/governance)

Learn more about the Maker protocol in our [Documentation](https://docs.makerdao.com/)

### Have Feedback? 

We value your input! Reply to this post, take our [survey](https://forms.gle/Z2QAgywU2Sesm7Vy6), or join us in the [Community-Development](https://chat.makerdao.com/channel/community-development) channel to let us know what you want to see.

*Disclaimer: This update is assembled by a group of contributing members in the MakerDAO community. This does and should not serve as financial advice or an inducement to vote in any specific way. This update is purely for informative and for communications purposes only.*