---
# System prepended metadata

title: 'August 2 - 8, 2022'
tags: [Weekly Relay]

---

---
tags: Weekly Relay
---

# August 2 - 8, 2022

![](https://i.imgur.com/VU8GImG.png)

_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._

Authors: @alec, @nothsa, @Sol_Invictus, and @Artem_Gordon

##### [Online PDF Version](https://pdfhost.io/v/Ed2vv5xbs_Weekly_Relay_August_2_8_2022)

---
## **CURRENT EVENTS** <!-- Alec -->

#### Breaking Down the RWA-001 Rift <!-- aka "Bad gas travels fast in a small town" -->

A number of related, high-trafficked posts took root over the course of the week; each related to RWA. A summary of the events links to all relevant discussions and further details can be found below. 

<small>**Summary of RWA-centric Events** ⮟</small>

* @williamr is currently the [sole, listed member of RWF-001](https://forum.makerdao.com/g/Real-World-Finance), as the peripheral team was let go. 
* Former members of RWF-001, @christiancdpetersen, @teej, and @eumenes, [proposed](https://forum.makerdao.com/t/mip40c3-sp78-rwf-0x-budget-proposal-through-2022/16968) the inception of a new RWF Core Unit, dubbed RWF-0x. 
* The initial proposal was met with confusion; as to that point, the greater community was unaware of any conflict within RWF-001.
* The proposed RWF-0x team questioned @williamr's positioning of the CU and its underlying strategy. 
* @williamr followed with a [post defending his position](https://forum.makerdao.com/t/my-response-to-unacceptable-behaviour/17028/53), which included screenshots of private correspondence between team members - a topic which became highly contentious as the week progressed. 
* Another [thread](https://forum.makerdao.com/t/unblocking-the-stalled-short-term-bonds-revenues-generating-initiatives/17073/1), posted by @SebVentures, requests the funds necessary to "unblock" the currently stalled initiative to generate revenue via short-term bonds. 

<small>**Detailed Timeline & Breakdown of RWA-centric Events** ⮟</small>

*The two MIPs were posted in conjunction. The remaining links direct to the myriad discussions that spawned from those initial posts.* 

##### [**MIP39c2-SP34: Creating RWF0x from a Split of RWF-001**](https://forum.makerdao.com/t/mip39c2-sp34-creating-rwf0x-from-a-split-of-rwf-001/16967)

***August 3, 2022*** - @christiancdpetersen posts the above MIP, which proposes a split from RWF-001. Under the terms of the current proposal, RWF would be split into two Core Units, and 75% of RWF-001's budget would be re-allocated to RWF-0x.  

##### [**MIP40c3-SP78: RWF-0x Budget Proposal through 2022**](https://forum.makerdao.com/t/mip40c3-sp78-rwf-0x-budget-proposal-through-2022/16968)

***August 3, 2022*** - @christiancdpetersen outlines the budget for the proposed RWF-0x Core Unit. The proposal requests funding through the end of the year with the following expenditure breakdown:

![](https://i.imgur.com/xN3ODSO.png)

##### [**Delegate Office Hours: RWF Split into RWF-0x & RWF-001**](https://www.youtube.com/watch?v=KZFZ1xQ6ZzU)

***August 5, 2022*** - Naturally, last week's Delegate Office Hours centered around this RWF rift.

<small>**A Brief Summary of the Call** ⮟</small>

* @monkey.irish speaks on the deals currently left in limbo by the split. He is currently working with both @willamr and the proposed RWF-0x team to facilitate negotiations in the interim. Business continuity is currently his highest priority.
* It was confirmed that the entire peripheral team was fired. @PaperImperium notes that a replacement team has been put into place by @williamr.
* Per Mark Phillips, the delay is currently costing the DAO 50k USD per day in legal fees.
* A general consensus was met that more information was needed from the parties involved to form a proper action plan. 

##### [**@williamr's 'Response to unnacceptable behavior'**](https://forum.makerdao.com/t/my-response-to-unacceptable-behaviour/17028/53)

***August 5, 2022*** - @willamr provides his side of the story, including screenshots of private correspondence between team members. 

The original post was soon edited to exclude this information, but Recognized Delegate @ChrisBlec chose to save and re-post the conversations for "full transparency."

Several community members have shared their thoughts on the topic, and the current sentiment is split. 

##### [**Unblocking the stalled short-term bonds revenues generating initiatives**](https://forum.makerdao.com/t/unblocking-the-stalled-short-term-bonds-revenues-generating-initiatives/17073/1)

***August 7th, 2022*** - @SebVentures requests funding to continue with the delayed projects established by [MIP65: Monetalis Clydesdale: Liquid Bond Strategy & Execution](https://forum.makerdao.com/t/mip65-monetalis-clydesdale-liquid-bond-strategy-execution/13148) and [MIP-6: Invest in short-term bonds](https://forum.makerdao.com/t/mip-6-declaration-of-intent-invest-in-short-term-bonds-proposal-for-implementation/16185). 

*Per the post:* 

> "*Every day of delay has a 40-80k DAI opportunity cost. It is key to return to profitability (see [ALM forecast](https://forum.makerdao.com/t/makerdao-alm-forecast/16881)).*"

SF-001 requests 500k DAI from the RWF-001 legal budget, currently controlled by @willamr, to be deposited into the SF-001 wallet for any legal fees incurred in pursuing the above deals.

##### [**[Informal Poll] Should we allow leaked private conversations on the forum?**](https://forum.makerdao.com/t/informal-poll-should-we-allow-leaked-private-conversations-on-the-forum/17050)

The final topic of discussion came from @TRUEMAKER in a [**follow-up poll**](https://forum.makerdao.com/t/informal-poll-should-we-allow-leaked-private-conversations-on-the-forum/17050) that questions whether or not the sharing of private conversations should be allowed, and if not - should the responsible parties be penalized in any form.

*'Abstain'* and *'Not Allowed'* currently lead the vote at 41% and 38%, respectively. 

![](https://i.imgur.com/NHiYB0Z.png)

---
#### **[Do you support the End Game Plan?](https://forum.makerdao.com/t/informal-poll-end-game/17015)**

In an effort to get a better sense of the level of support among the community for @rune's Endgame Plan, @Ippy submitted an informal poll asking simply: "Do you support the End Game Plan?"

At the time of writing, opinions appear to be split roughly evenly.

![](https://i.imgur.com/DK9zdD3.png)
</br>
Poll closes: [date=2022-08-11 time=4:00:00 timezone="UTC"]

#### **[DAI-Backed Collateral Initiative to Gather Information](https://forum.makerdao.com/t/eli5-dai-backing/17000)**

GovAlpha's @LongForWisdom has announced the launch of an initiative to create simple documentation—sentence and paragraph summaries—explaining each of DAI's backing assets, including RWA.

Several community members have already stepped in to provide asset descriptions and share feedback about the project.

#### **[Recognized Delegate Compensation Breakdown - July 2022](https://forum.makerdao.com/t/recognized-delegate-compensation-breakdown-july-2022/16995)**

The Recognized Delegate Compensation Breakdown for July has been released. 121,808 DAI in compensation was distributed to Delegates in July, compared to 78,062 in May and 73,612 in June.

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

#### **[SocGen Forge OFH: Granting final permission after the onboarding](https://forum.makerdao.com/t/socgen-forge-ofh-granting-final-permission-after-the-onboarding/17033)**

This week, the final steps in onboarding the Société Générale SocGen FORGE OFH token (RWA008-A) will take place when SocGen's wallet address is officially added to the Vault contract. This step was put on hold during the initial onboarding phase last week due to Société Générale's keyholders being unavailable during the spell creation and validation process.

#### **[The Schuppi and ElPro Delegate Happy Hour](https://forum.makerdao.com/t/the-schuppi-and-elpro-delegate-happy-hour-featuring-raphael-of-flipside-crypto/17023)**

The Schuppi and ElPro Delegate Happy Hour have already reached Episode 4! This episode is the first to feature a guest: Raphael of Flipside Crypto’s Delegate Platform.

Topics:

![](https://i.imgur.com/pRK9kF2.png)

---
## This Week in Governance

### **[Weekly MIPs Update #99](https://forum.makerdao.com/t/weekly-mips-update-99/17102)**

*Ratification polls, proposals, and pre-MIP discussions.*

---
### Executive Vote(s)

We bring forth the results for the two Executive Proposals which passed this week:

[**Onboarding Real World Asset Vaults**](https://vote.makerdao.com/executive/template-executive-vote-onboarding-real-world-asset-vaults-july-29-2022) -- _Passed on August 02, 2022, 13:25 UTC. Executed on August 04, 2022, 14:01 UTC._ 

The following **additions** were made to the Maker Protocol:

- As per [this poll](https://vote.makerdao.com/polling/QmajCtnG#vote-breakdown), Societe Generale -- Forge (OFH) was onboarded as a new vault type, RWA-008.
- As per [this poll](https://vote.makerdao.com/polling/QmQMDasC#vote-breakdown), Huntingdon Valley Bank (HVBank) was onboarded as a new vault type, RWA-009.

The following **changes** occurred within the Maker Protocol:

-   [Amendments to the letter agreements](https://forum.makerdao.com/t/huntingdon-valley-bank-transaction-documents-on-permaweb/16264/8) between RWA Foundation and various parties for the RWA-009 (HVBank) legal construction.
-   25 million DAI were drawn down in the RWA-009 (HVBank) vault.

| Collateral Parameters | OFH | HVBank |
|:---------------------:|:---:|:------:|
|[Stability Fee](https://manual.makerdao.com/parameter-index/vault-risk/param-stability-fee)|0.05%|0.0%|
|[Debt Ceiling](https://manual.makerdao.com/parameter-index/vault-risk/param-debt-ceiling)|30M DAI|100M DAI|
|[Liquidation Ratio](https://manual.makerdao.com/parameter-index/vault-risk/param-liquidation-ratio)|100%|100%|
|Debt write-off timelock (`tau`)|0|0|
|Liquidation Process|[MIP21](https://mips.makerdao.com/mips/details/MIP21)|[MIP21](https://mips.makerdao.com/mips/details/MIP21)|

[**HVBank Drawdown, Keeper Network Stream Re-Deployment**](https://vote.makerdao.com/executive/template-executive-vote-hvbank-drawdown-keeper-network-stream-re-deployment-august-03-2022) -- _Passed on August 04, 2022, 18:30 UTC. Executed on August 06, 2022, 18:39 UTC._

The following **changes** were made to the Maker Protocol:

- As per this [poll](https://vote.makerdao.com/polling/QmQMDasC#vote-breakdown), 25 million DAI were drawn down in the RWA-009 (HVBank) vault.
    - _Further description of the schedule and mechanism being used for a drawdown from this vault can be seen in this [post](https://forum.makerdao.com/t/rwa009-hvbank-mip21-token-ces-domain-team-assessment/15861/8) from the Collateral Engineering Services Core Unit (CES-001)._

- As per this forum [post](https://forum.makerdao.com/t/mip63c4-sp4-onboard-amend-keeper-network-keep3r-network/14321/8) and the ratified [MIP63c4-SP4: Onboard/Amend Keeper Network (Keep3r)](https://mips.makerdao.com/mips/details/MIP63c4SP4), the previously established stream to Keep3r Network was canceled and a new stream was deployed.
    
    - 215,000 DAI will be streamed to the Keep3r Keeper Network at [0x37b375e3D418fbECba6b283e704F840AB32f3b3C](https://etherscan.io/address/0x37b375e3D418fbECba6b283e704F840AB32f3b3C), starting on 2022-07-01 and ending on 2023-01-31 at a rate of 1,000 DAI/day.
    - [0x45fEEBbd5Cf86dF61be8F81025E22Ae07a07cB23](https://etherscan.io/address/0x45fEEBbd5Cf86dF61be8F81025E22Ae07a07cB23) was added as a manager for this stream. In the event of issues with the stream, this manager address will be able to cancel this stream without a further executive proposal being required.

---
### Active Poll(s)

#### Ratification Poll(s)

Less than a fortnight to cast your vote on these Polls:

| Poll Name | Discussion |Start Date | End Date | 
|:---------:|:----------:|:---------:|:--------:|
|[Ratification Poll for Modify Dai Foundation Core Unit Budget (MIP40c3-SP74)](https://vote.makerdao.com/polling/QmQJ9hYq)|   [Discussion](https://forum.makerdao.com/t/mip40c3-sp74-modify-dai-foundation-core-unit-budget-daif-001/16379/4)|August 08, 2022, 16:00 UTC|August 22, 2022, 16:00 UTC|
|[Ratification Poll for Core Unit Offboarding Process Amendments (MIP4c2-SP15)](https://vote.makerdao.com/polling/QmbBh8t4)|   [Discussion](https://forum.makerdao.com/t/new-mip4c2-sp15-core-unit-offboarding-process-amendments/15291)|August 08, 2022, 16:00 UTC|August 22, 2022, 16:00 UTC|
|[Ratification Poll for Modify Oracle Core Unit Budget (MIP40c3-SP75)](https://vote.makerdao.com/polling/Qma3P8v9)|   [Discussion](https://forum.makerdao.com/t/mip40c3-sp75-modify-oracles-core-unit-budget-ora-001/16397)|August 08, 2022, 16:00 UTC|August 22, 2022, 16:00 UTC|
|[Ratification Poll for MIP50 Direct Deposit Module Amendment (MIP4c2-SP23)](https://vote.makerdao.com/polling/QmWYXAdd)|   [Discussion](https://forum.makerdao.com/t/mip4c2-sp23-mip50-direct-deposit-module-amendment/16387)|August 08, 2022, 16:00 UTC|August 22, 2022, 16:00 UTC|
|[Ratification Poll for Makershire Redux (MIP76)](https://vote.makerdao.com/polling/QmTYQskE)|   [Discussion](https://forum.makerdao.com/t/mip76-makershire-redux/16400)|August 08, 2022, 16:00 UTC|August 22, 2022, 16:00 UTC|
|[Ratification Poll for Offboarding Events Core Unit (EVENTS-001)](https://vote.makerdao.com/polling/QmTNaLnY)|   [Discussion](https://forum.makerdao.com/t/mip40c3-sp73-modify-core-unit-budget-events-001/15991)|August 08, 2022, 16:00 UTC|August 22, 2022, 16:00 UTC|

---
#### Community Greenlight Poll(s)

Less than a week to make up your minds:

| Greenlight Poll | Vote Breakdown | Start Date | End Date |
| :-------------: | :------------: | :--------: | :------: |
| [MIP9 Community Greenlight Poll - Pando (Pando Investment Grade Climate Assets)](https://vote.makerdao.com/polling/QmawHstd) |![](https://i.imgur.com/cjjxPyV.png)|August 1, 2022, 16:00 UTC| August 15, 2022, 16:00 UTC |

---
### Finished Poll(s)

Happy endings for these three:

| Poll Name | Vote Breakdown | End Date | 
| :-------------: | :------------: | :-------:| 
| [PPG - Open Market Committee Proposal](https://vote.makerdao.com/polling/QmfMRfE4) |![](https://i.imgur.com/dQz2N2M.png)|August 04, 2022, 16:00 UTC|
| [Maker Teleport Deployment on Starknet and Associated Risk Parameters](https://vote.makerdao.com/polling/QmZxRgvG) |![](https://i.imgur.com/qQOOFNJ.png)|August 04, 2022, 16:00 UTC|
| [Tactical Re-allocation Process for Budget Adjustments](https://vote.makerdao.com/polling/QmRLsRRA) |![](https://i.imgur.com/KrU4ipa.png)|August 04, 2022, 16:00 UTC|

---
## **Meetings and Events** <!-- Artem -->

**Last Week's Call Recordings:**

- Meet Your Delegate #17 - ft. CodeKnight & pvl | [Forum](https://forum.makerdao.com/t/meet-your-delegate-17/16932) | [Video](https://www.youtube.com/watch?v=KZFZ1xQ6ZzU) 
- Open Decentralized Voter Committee | [Forum](https://forum.makerdao.com/t/endgame-dvc-meetings-for-today-and-tomorrow-9pm-cest/16981) | [Video](https://www.youtube.com/watch?v=z_CKZmqsu5U)
- Delegate Office Hours | [Forum](https://forum.makerdao.com/search?q=Delegate%20Office%20Hours%20%23pubcall-%3A-office-hours) | [Video](https://www.youtube.com/watch?v=W8o7YKQQyZc)
- Governance & Risk - Ep. 202 | [Forum](https://forum.makerdao.com/tag/pubcall-:-governance-and-risk) | [Video](https://www.youtube.com/watch?v=Zk_tCIV7ItY)


**Upcoming Calls:**

- Open Decentralized Voter Committee | [Join Link](https://www.google.com/url?q=https://us02web.zoom.us/j/89326394914&sa=D&source=calendar&ust=1660493088184705&usg=AOvVaw1YBV1Am5xtqFqJNsoVQUIe) | [date=2022-08-10 time=19:00:00 timezone="UTC"]
- Delegate Office Hours | [Join Link](https://www.google.com/url?q=https://us02web.zoom.us/j/88286550832?pwd%3DdWQzQi9tYlNyemJJS2Nrd2NUdTBoZz09&sa=D&source=calendar&ust=1660493088184705&usg=AOvVaw2XZyE9BrQvOzddL7fBqmW4) | [date=2022-08-11 time=16:00:00 timezone="UTC"]
- Governance & Risk - Ep. 203 | [Forum](https://forum.makerdao.com/tag/pubcall-:-governance-and-risk) | [Join Link: 748478](https://zoom.us/j/697074715) | [date=2022-08-11 time=17:00:00 timezone="UTC"]
- Open Decentralized Voter Committee | [Join Link](https://www.google.com/url?q=https://us02web.zoom.us/j/82286534666&sa=D&source=calendar&ust=1660493088184705&usg=AOvVaw3JSh3pFt6uHQi0GbtOTGia) | [date=2022-08-11 time=19:00:00 timezone="UTC"]

---
### Core Unit Office Hours <!-- UPDATE -->

- [Join Link](https://us02web.zoom.us/j/82603350722?pwd=RThleVo5QlBRT1FuOWxiRCs3K0k2Zz09) | GovAlpha Governance Q&As - Mondays at 17:00 UTC
- [Join Link](meet.google.com/frj-vpji-huc) | Immunefi Security - Every Other Monday at 23:00 UTC | Alternative [Join Link](https://makerdao.bigbluemeeting.com/adm-eox-jtz-tsi) - Every Other Wednesday at 15:00 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 at 15:00 UTC
- [Join Link](https://us02web.zoom.us/j/85252786103?pwd=bEZaZXdEcGlSWWd5bmpxMDBvVjdEUT09) | Sustainable Ecosystem Scaling - Tuesdays at 13:30 UTC
- [Join Link](https://meet.google.com/sap-nttu-xga) | Growth - First Wednesday of Each Month at 17:00 UTC
- [Join Link](https://meet.google.com/kwf-qayf-xdq) | Real World Finance - Every Other Wednesday at 18:00 UTC 
- [Join Link](https://meet.google.com/nio-jrqq-guu) | Governance Communications - Fridays at 18:00 UTC
- [Join Link](https://us02web.zoom.us/j/81560369659) | 6S Capital - Every Other Wednesday at 14:00 UTC

## ⚓ **Resources**

<details><summary>Open List</summary><br>

> [All Available Dashboards](https://forum.makerdao.com/t/all-available-dashboards/16104)

> [All Available Guides](https://forum.makerdao.com/t/all-available-guides/16159)

> [Calls Calendar](https://forum.makerdao.com/t/the-calls-calendar/16095)

> [Forum](https://forum.makerdao.com) and [Maker Discord](https://discord.gg/YtBXXYuVDB)

> [Governance Dashboard Tracker](https://www.makerdao-governance-dashboard.com/tracker) | [Google Sheet Version](https://docs.google.com/spreadsheets/d/1LWNlv6hr8oXebk8rvXZBPRVDjN-3OrzI0IgLwBVk0vM/edit#gid=0)

> [Know Your MIP Index](https://forum.makerdao.com/t/know-your-mip-index/6768)

> [Learning Portal](https://community-development.makerdao.com/en/learn/) and [Technical Documentation](https://docs.makerdao.com/)

> [MakerDAO’s Discord Servers](https://forum.makerdao.com/t/makerdaos-discord-servers/16110)

> [MakerBurn](https://makerburn.com/#/rundown)

> [Office Hours List](https://forum.makerdao.com/t/office-hours-list/16162)

> [Participation Tools](https://community-development.makerdao.com/en/learn/governance/participate)

> [Votes and Important Dates Calendar](https://forum.makerdao.com/t/the-votes-and-important-dates-calendar/16096)

</details></br>

### Disclaimer

*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.*