---
# System prepended metadata

title: 'G&R #120 Snippet'
tags: [Snippets]

---

---
tags: Snippets
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# G&R #120 Snippet

Domain team updates, DsChief migration, Governance Cycle Review, PSM and many other active discussions. All the updates from MakerDAO Governance and Risk Call #120 in this `snippet` 


## Team Updates

### Smart Contracts

- Working on DSChief v1.2 migration.
- After the executive passed, on Monday we'll move to new chief and need to secure the hat with 80k+ MKR.
- Collateral Assessments: finished UNI, renBTC, working on tBTC. AAVE is in review. Assessed priorities of real world assets.
- UNI, renBTC and MIP 27 going to Kovan next week.
- Foundation team got auditors chosen to assist for [aggressive end-of-year schedule.](https://forum.makerdao.com/t/2020-year-end-schedule/5218)

### Risk

- Published 3 risk evaluations for [UNI](https://forum.makerdao.com/t/uni-collateral-onboarding-risk-evaluation/5348), [UNI-V2-DAI-ETH](https://forum.makerdao.com/t/uni-v2-dai-eth-collateral-onboarding-risk-evaluation/5336), [UNI-V2-USDC-ETH](https://forum.makerdao.com/t/uni-v2-usdc-eth-collateral-onboarding-risk-evaluation/5335)
- [[AAVE] Collateral Onboarding Risk Evaluation](https://forum.makerdao.com/t/aave-collateral-onboarding-risk-evaluation/5362)
- 6S Capital [[SIXS/RWA-001] Collateral Onboarding Risk Evaluation](https://forum.makerdao.com/t/sixs-rwa-001-collateral-onboarding-risk-evaluation/5352) - will likely be the fastest real world asset to be implemented
- New Silver [[NS-DROP] Collateral Onboarding Risk Evaluation](https://forum.makerdao.com/t/ns-drop-collateral-onboarding-risk-evaluation/5418) 
- ConsolFreigh risk evaluation will be released soon.
- The risk team will be updating risk parameters for all collateral types to be released next week.
- Primoz is working on a risk report for PSM

### Oracles

- There was an oracle outage last week, no oracles were updated for a period of time. 
- The cause of this was related to a bug in Scuttlebutt network errors, a dependency in the stack.
- No liquidations were affected as a result of the oracle outage, as far as the team is aware. 
- Working on mitigation of this for some time. Postmortem and timeline for mitigation will be posted on the forum. 
- Infrastructure redundancy and implementation redundancies on deck.
- A large amount of the call dove into real world assets and their risks specifically to oracles on the Maker Protocol. Many good points on the video 👉 [Link](https://youtu.be/gadMkrlm5dY?t=3434).

### Operations and Community Development

- Reviewing new grants applications.
- A fellow for Kleros and Maker Collateral Legal Assessment was chosen and will soon be joining the calls.

### Collateral Onboarding

- Collateral Onboarding call with [Leverj](https://forum.makerdao.com/t/collateral-onboarding-call-18-leverj-wednesday-december-2nd-18-00-utc/5356) team yesterday, [watch replay](https://www.youtube.com/watch?v=s-snD7yZVnE)
- Next call is [December 9 at 18:00 UTC with Melon Protocol](https://forum.makerdao.com/t/collateral-onboarding-call-18-melon-protocol-wednesday-december-9th-18-00-utc/5449)
- Lev will join the next [Know Your MIPs call on December 7 at 17:00 UTC](https://forum.makerdao.com/t/know-your-mip-kym-02-mip30-farmable-cusdc-adapter-cropjoin-monday-december-7th-17-00-utc/5464) to discuss MIP30: Farmable cUSDC Adapter (CropJoin) 17:00 UTC

### MIPs

- Last week was final week of November Governance cycle, all seven proposals moved to accepted status. 
- Due to ratification of Calendar Exceptions, there will be no December Governance Cycle.
- Community will continue to discuss proposals in RFC and plan for January Governance Cycle.
- renBTC, RWA-001, UNI Govenance Polls passed.
- Community Greenlights for NEXO and YFII were deferred.

## Other Presentations and Updates

### DsChief Migration Steps

- Once the Executive Vote to implement DSChief v1.2 passed, check out the [Migration Steps forum post](https://forum.makerdao.com/t/dschief-v1-2-migration-steps/5412) for the process for MKR holders to migrate to the new chief. 
- [Video walkthrough](https://youtu.be/gadMkrlm5dY?t=3055) 

### PSM 

- PSM Vote passed, read more about it in the forum post [Road to PSM](https://forum.makerdao.com/t/road-to-the-psm/5353)
- 4 things to finish on the roadmap:
    - Smart contract audits
    - Risk analysis (next week)
    - Contracts are deploying on Kovan
    - Mainnet deploy next

## Peg

- VWAP (Volume Weighted Average Price) is 1.005. 
- Volume at 305 million for past 7 days.




