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# System prepended metadata

title: 'Forum at a Glance: February 3 - 10, 2022'
tags: [Forum at a Glance]

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tags: Forum at a Glance
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# Forum at a Glance: February 3 - 10, 2022

![](https://i.imgur.com/EXedzQ7.png)

Welcome to the one-stop shop for a TL;DR on everything being discussed on the MakerDAO forum right now.

*Links reflect my view of the most noteworthy activities in the governance, risk, and oracles categories right now. Disagree? Think something should be added? Leave a reply or a pm.*

> A public PDF version of this post can be found [here.](https://pdfhost.io/v/t2Vb747Cj_Forum_at_a_Glance__February_3_10_2022)

## Three-Point Summary

‘What is the most relevant information on the forums this week for MKR and Dai holders?’

- There will be [no executive vote on-chain until February 25th, 2022.](https://forum.makerdao.com/t/planned-executive-proposal-update/13149)
- Check out [January's Financial Report](https://forum.makerdao.com/t/financial-report-2022-01/13131) of MakerDAO!
- Click [here](https://forum.makerdao.com/t/makerburns-10b-dai-nft-meme-competition/13113) to enter the 10B Dai meme competition to win a one-of-a-kind NFT.

----------
## ICYMI - Announcements

**[Planned Executive Proposal Update](https://forum.makerdao.com/t/planned-executive-proposal-update/13149)**
Yesterday, February 8th, the mandated actors discussed upcoming executives. In the interest of providing transparency and sync expectations, @prose11 announced that the discussion resulted in postponing an executive vote for the next two weeks. 

February 11, 2021 Executive: 
Only one item needs an executive vote for this week: TUSD-A Offloading, which may require additional domain work prior to the executive. In order to efficiently save resources for a full executive, this week's votes will be bundled with the next executive on February 25th, 2022.

February 18, 2021 Executive:
This is the week of ETHDenver, and many Core Units and delegates will be involved in the event. All non-urgent votes will be bundled into the following week's, February 25th, executive vote, including TUSD-A Offloading.

GovAlpha will be running non-executive polls as usual. There should be plenty of items to bundle when executive proposals resume on February 25th. Reach out to GovAlpha for any inquiries or concerns.

**[Financial Report - 2022-01](https://forum.makerdao.com/t/financial-report-2022-01/13131)**
The Strategic Finance Core Unit brings us January's Financial Report showing a decreased demand in lending driven by recent market conditions, leading to lower stability fees and recurring income. *Check out the original post for their entire slide deck; but here are some key points:*
- Net protocol income is up 121% MoM, driven by an 869% ($16.3M) increase in net liquidation income.
- Net interest income is up 312% YoY.
- Recurring income increased to $7.9M (+216% vs. PY).
- Both Dai risk and liquidity ratios increased favorably.
- ETH lending market share increased 2.6% MoM.
- WBTC lending market share increased 0.4% MoM.
- Dai outstanding grew from $9.1 to $9.35B over the past month, a 2.7% increase!

**[Makerburn’s 10B DAI NFT meme competition](https://forum.makerdao.com/t/makerburns-10b-dai-nft-meme-competition/13113)**
We did it! 
[The Dai total supply surpassed 10 billion!](https://forum.makerdao.com/t/10-000-000-000-dai-reached/13106) 
![](https://i.imgur.com/05f1WF4.png) ![](https://i.imgur.com/32OD0pB.png)
For this special occasion, @makerburn announces the opportunity to win an [exclusive one-of-a-kind NFT](https://makerburn.com/#/moments/7), commemorating the 10B DAI Makerburn moment. Throughout the next two weeks, everyone is invited to submit their best meme accompanying this glorious moment, and multiple entries per user are allowed (unless you spam). The meme with the most likes will claim victory and ownership to the NFT. Good luck!

*The competition closed on [date=2022-02-22 time=17:00:00 timezone="Europe/Oslo"]* 

**[Misleading Sentence Summary on Live Poll](https://forum.makerdao.com/t/misleading-sentence-summary-on-live-poll/13128)**
the [Signal Request to bring back the MKR burn](https://forum.makerdao.com/t/signal-request-bring-back-the-mkr-burn/12837) passed and went on-chain to [Introduce Rate Limiting into the Flapper](https://vote.makerdao.com/polling/QmagLVA2?network=mainnet), which is live until February 10th. However, due to a misleading summary noted in the body of the poll that @Primoz pointed out, @prose11 submits a post to help clarify that this vote is in reference to the technical implementation of a Rate Limiter, which will have no *immediate* bearing on the MKR burn rate.

Polls cannot be taken down or modified once posted; please share this announcement with any known MKR voters. GovAlpha will discuss whether the poll's results can be accepted as valid. Potential recourse may include reissuing the poll if necessary.

**[Rate Limited Flapper](https://forum.makerdao.com/t/rate-limited-flapper/13056)**
[A recent discussion and Signal Request](https://forum.makerdao.com/t/signal-request-bring-back-the-mkr-burn/12837) expressed that majority of the community would like to introduce Rate Limiting into the Flapper to continue MKR burn, which went [on-chain](https://vote.makerdao.com/polling/QmagLVA2?network=mainnet#poll-detail) and ends Today, February 10th, at 4 PM UTC.

The [@Protocol-Engineering](https://forum.makerdao.com/groups/protocol-engineering) Core Unit [published more details](https://forum.makerdao.com/t/rate-limited-flapper/13056) on the Rate Limited Flapper.

> This is a simple amendment that allows Governance to limit the amount of DAI that is allowed to be auctioned off at once, accomplished by adding the following two new parameters to the flapper contract; `lid` and `fill`.
>- `lid` is the total value of dai allowed to be sent out to auction at once.
>- `fill` is the current amount of dai that is currently in auction.
>- calling `kick()` increases `fill`.
>- calling `deal()` decreases `fill`.

Keepers must update their logic to `deal()` finished prior auctions to clear out space for the new `kick()`.

The next steps involve an additional signal request determining the correct DAI limited to be auctioned off at once. Solutions have already been written by [@hexonaut](https://forum.makerdao.com/u/hexonaut), which will undergo an audit before implementation and successfully passing its on-chain poll.

---
:wave:*Looking for more posts and updates?*

*Check out [recent Core Unit monthly updates](https://forum.makerdao.com/tag/cu-update) for December. Keep in mind that there will be a COMPLETE post of all January 2022 Core Unit and non-Core Unit team updates published early February by yours truly, COM-001 :smile:*

*Check out the weekly [updates](https://forum.makerdao.com/tag/update) and [summaries](https://forum.makerdao.com/tag/summary) from our teams and Core Units.*

*Check out the monthly Financial Reports [here.](https://forum.makerdao.com/tag/financial-report)*

-----
## [Active Discussions](https://forum.makerdao.com/latest)

‘What is going on? You think what?! You are 100% wrong, and here is why…’

**[Grant Announcement: KYC/AML Compliance Research](https://forum.makerdao.com/t/grant-announcement-kyc-aml-compliance-research/12991)**

The @SES-Core-Unit welcomes [Patrizia Crespi](https://youtu.be/Su67FrUqPAw) and announces [a research grant](https://forum.makerdao.com/t/grant-announcement-kyc-aml-compliance-research/12991) to study the potential impact of upcoming regulations on the Maker protocol, in particular know-your-customer and anti-money laundering regulations. In the report, she will analyze potential KYC and AML sanction risks and propose regulatory risk mitigation strategies. 

The grant's objective is to foster Maker’s core values and protect contributors and governors. This research should help serve as a point of contact for external compliance relations and inquiries for MakerDAO.

In addition, [@SES-Core-Unit](https://forum.makerdao.com/groups/ses-core-unit) will restructure their [Incubator and Grants Program,](https://www.youtube.com/watch?v=mdybsuf3w8I&t=774) allowing incubation of up to five candidate facilitators per educational track providing the ability to focus on 10-15 facilitators to run individual Core Units across three educational tracks. Patrizia Crespi will help ensure these legal incubation tracks meet appropriate legal infrastructure.

The grant will continue into March 2022 with the delivery of a final report reviewing the research results.

*Please, check out the Governance and Risk Call #178 (coming soon!) for a deeper discussion about this grant.*

![](https://i.imgur.com/7bAwSEb.png)

![](https://i.imgur.com/XmL0yun.png)

**[Framing The Debate on Market Liquidity - Part One - Funding](https://forum.makerdao.com/t/framing-the-debate-on-market-liquidity-part-one-funding/13096)**
There have been previous [discussion](https://forum.makerdao.com/t/governance-and-risk-177-thursday-february-03-17-00-utc/12977/3) on improving Dai and MKR liquidity, which is still open for ideas and continued discussion. @LongForWisdom submits a post to help the community understand the costs, benefits, and options available across on-chain and off-chain trading venues. 

Three significant decisions must be addressed before implementing actionable steps towards a consistent and effective market liquidity strategy for Dai and/or MKR:

>Decision 1: How does MakerDAO fund its liquidity strategy?
>Decision 2: What is our liquidity strategy aiming to achieve, and how?
>Decision 3: What tools/methods do we use to implement our liquidity strategy?

This post speaks on Decision 1 and provides four methods for funding a liquidity strategy, which may require implementation methods addressed in upcoming posts.

Method 1: Mint Dai directly and use it to purchase liquidity in some form, which can be used to back the minted DAI. *Check out associated pros and cons in the original post.*

Method 2: Use Dai in the Surplus Buffer to *only* purchase liquidity. *Check out associated pros and cons in the original post.*

Method 3: Sell MKR that's either minted or in the treasury to use and buy Dai or other liquidity components. *Check out associated pros and cons in the original post.*

Method 4: Lock MKR that's either minted or in the treasury into a secondary lending platform and borrow Dai against that locked MKR. *Check out associated pros and cons in the original post.*

@LongForWisdom will publish additional posts covering Decisions 2 and 3.

------
## [Seeking Consensus](https://forum.makerdao.com/tag/active-signal)

‘Yo, do you even signal?’

**[Advance "Rapid Payment for Small Bug Bounties" to on-chain poll](https://forum.makerdao.com/t/signal-request-advance-rapid-payment-for-small-bug-bounties-to-on-chain-poll/13017)**
*Signal Ends February 11th*\
[@psychonaut](https://forum.makerdao.com/u/psychonaut) submits a signal request asking the community whether we should push [MIP4c3-SP1: Rapid Payment for Small Bug Bounties (MIP64, MIP40c3-SP42 Amendment)](https://forum.makerdao.com/t/mip4c3-sp1-rapid-payment-for-small-bug-bounties-mip64-mip40c3-sp42-amendment/12869) towards an on-chain poll.

**[MakerMan Retroactive Delegate Comp](https://forum.makerdao.com/t/signal-request-makerman-retroactive-delegate-comp/13051)**
*Signal Request Ends February 18th*\
The [Recognised Delegate Compensation Trial Performance Modifier](https://vote.makerdao.com/polling/QmbKaHAv?network=mainnet#poll-detail) poll passed, which led to compensation calculation changes for December. However, one delegate, [@MakerMan](https://forum.makerdao.com/u/makerman), received no compensation for November and would have received 8,245 DAI if the new compensation model had been in place. In response to this event, [@prose11](https://forum.makerdao.com/u/prose11) submits a signal request asking the community whether the protocol should pay MakerMan the 8,245 DAI for his Recognized Delegate duties in November, calculated based on the December formula change.

**[Allocate 20M to protocol owned Uniswap V2 MKR/DAI LP](https://forum.makerdao.com/t/signal-request-allocate-20m-to-protocol-owned-uniswap-v2-mkr-dai-lp/13150)**
*Signal Request Ends March 3rd*
In response to recent discussion on MKR liquidity, @psychonaut believes the simplest method is to add protocol-owned Dai/MKR LP shares to UniV2. He asks the community whether Maker should allocate 20M to a protocol owned UniV2 MKR/Dai LP and exhibits that the pros outweigh the cons:

>Pros:
>-   Simple
>-   No need to wait on sweeping tokenomic redesigns that have had difficulty finding consensus (e.g., [Sagittarius Engine](https://forum.makerdao.com/t/sagittarius-engine/10852), [gbMKR](https://forum.makerdao.com/t/signal-request-gbmkr-a-proposal-to-benefit-long-term-mkr-holders/12756), etc.)
>-   Mostly orthogonal to MKR [flap auctions](https://manual.makerdao.com/parameter-index/surplus-auction)
>-   Helps identify a minimum and maximum MKR price for both flap and flop auctions
>-   Automatically buys low, sells high and captures the spread
>-   Obtains some return on otherwise idle capital sitting in the surplus buffer
>-   Extremely gas efficient (i.e., set up and forget about it)
>
>Cons:
>-   Potentially interferes with the ability to raise lots of DAI from MKR sales
>-   Trading strategy is practically opposite to [flop auctions](https://manual.makerdao.com/parameter-index/debt-auction)


**[Bring back the MKR burn Part II](https://forum.makerdao.com/t/signal-request-bring-back-the-mkr-burn-part-ii/13146)**
*Signal Request Ends March 4th*
@ultraschuppi states that the recent executive to temporarily disable Surplus Auctions and MKR burn had intentions to return to the original `lerp` mechanic. However, an on-chain poll added the Rate Limiter to the Flapper Module. 

In response, Schuppi asks the community whether the protocol should return to the previous partial burning configuration as agreed in November but only if the following are met:

-   The [Rate Limiter](https://forum.makerdao.com/t/rate-limited-flapper/13056) has been installed in the mainnet - this will take a couple of weeks.
-   An [initial configuration](https://forum.makerdao.com/t/rate-limited-flapper/13056#next-step-setting-lid-3) for the Rate Limiter has been set.

-----
## [Ongoing Initiatives](https://forum.makerdao.com/t/governance-initiatives/1347)

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

[Maker Operational Manual](https://forum.makerdao.com/t/announcing-maker-operational-manual/12553) - @GovAlpha-Core-Unit release the launch of the Maker Operational Manual and invite all members and Core Units to reach out if they wish to provide any help or documentation to add for the Manual.

[Recognised 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/10076/2) 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 listing and hiring practices. *If anybody has additional information on unique hiring practices or job listings, please comment on the thread.*

[:mega: Collateral Calls - Calling all Projects!](https://forum.makerdao.com/t/collateral-calls-calling-all-projects/3715) - @juan sets up a signup thread for projects wishing to present on the bi-weekly collateral call. Know any potential collateral partners that want to present? Refer them here.

[Collateral Status Index](https://forum.makerdao.com/t/collateral-status-index/2231) - Confused about the current status of the various collateral types that have been discussed recently? Check out this post to find out the status and current position of each within the onboarding process.

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

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

-----
## [Help Wanted](https://forum.makerdao.com/c/miscellaneous/help-wanted/11)

‘Oh %#$?, we need a doodad, and we need it now.’

[Help Wanted: Writers for Stakeholder Content Program](https://forum.makerdao.com/t/help-wanted-writers-for-stakeholder-content-program/13122) - Governance Communications Core Unit is looking for proficient English writers with some experience and/or knowledge of DeFi terminology, current events, and general MakerDAO stuff.

[Wanted: Governance Contributors for GovAlpha](https://forum.makerdao.com/t/help-wanted-govalpha/8811) - @LongForWisdom puts out the call for new team members! Different tracks are available depending on interest and time commitment.

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

## [Feedback Survey](https://survey.sogosurvey.com/r/qTb1p7)

*Please, check out the [Forum at a Glance feedback survey](https://survey.sogosurvey.com/r/qTb1p7) to help us improve and scale these reviews - It will be fun, I promise.* 
