---
tags: Maker Relay
---

# Maker Relay 18


_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. This week saw a massive update to the [voting portal](https://v2.vote.makerdao.com/polling?network=mainnet). You can batch vote and sort polls more intuitively, comment on executives, and enjoy the improvements!

## Votes

*Check our community development's [Governance Tools Resource](https://community-development.makerdao.com/en/learn/governance/participate) for links to things like: system status, Dai stability, collateral/liquidations, protocol analytics, auctions, and some of the history of governance.*

We 💚 love PR's! Add your thoughts to our [repo](https://github.com/makerdao/community) anytime.

### Monthly Governance Cycle

Governance Cycle October Bundle: [Vote](https://v2.vote.makerdao.com/executive/approve-october-2020-governance-cycle-bundle-october-26-2020?network=mainnet#proposal-detail)

| Poll Name | Type | Discussion | If Passed
| ---------- | ----------------- | ---------- | ---------- |
| MIP14 - Protocol Dai transfer | MIP | [Discussion](https://forum.makerdao.com/t/mip14-protocol-dai-transfer/2462) | Will be moved to **Accepted** status|
| MIP20 - Target Price Adjustment Module (Vox) | MIP | [Discussion](https://forum.makerdao.com/t/mip20-target-price-adjustment-module-vox/3196) | Will be moved to **Accepted** status|
| MIP21 - Real World Assets - Off-Chain Asset Backed Lender | MIP | [Discussion](https://forum.makerdao.com/t/mip21-real-world-assets-off-chain-asset-backed-lender/3917) | Will be moved to **Accepted** status|
| MIP22 - Centrifuge Direct Liquidation Module | MIP | [Discussion](https://forum.makerdao.com/t/mip22-centrifuge-direct-liquidation-module/3930) | Will be moved to **Accepted** status|
| MIP23 - Domain Structure and Roles | MIP | [Discussion](https://forum.makerdao.com/t/mip23-domain-structure-and-roles/4021) | Will be moved to **Accepted** status|
| MIP13c3-SP3: Declaration of Intent - Strategic Reserves Fund | Sub-proposal | [Discussion](https://forum.makerdao.com/t/mip13c3-sp3-declaration-of-intent-strategic-reserves-fund-srf/3765) | Will move to **Accepted** status
| MIP13c3-SP4: Declaration of Intent & Commercial Points - Off-Chain Asset Backed Lender to onboard Real World Assets as Collateral for a DAI loan | Sub-proposal | [Discussion](https://forum.makerdao.com/t/mip13c3-sp4-declaration-of-intent-commercial-points-off-chain-asset-backed-lender-to-onboard-real-world-assets-as-collateral-for-a-dai-loan/3914) | Will move to **Accepted** status
| MIP13c3-SP5: Declaration of Intent: Maker to commence onboarding work of Centrifuge based Collateral | Sub-proposal | [Discussion](https://forum.makerdao.com/t/mip13c3-sp5-declaration-of-intent-maker-to-commence-onboarding-work-of-centrifuge-based-collateral/4059) | Will move to **Accepted** status

### Weekly Governance Cycle

*Some polls use [instant run-off](https://ballotpedia.org/Ranked-choicevoting(RCV)), so you can select multiple options and ranked-choices will be prioritized.*

| Poll Name | Type | Vote | Discussion |
| ---------- | ----------------- | ---------- | ----- |
| Add GUSD as a Collateral Type | Collateral Onboarding | [Vote](https://vote.makerdao.com/polling/QmWh3nQN?network=mainnet#poll-detail) | [Discussion](https://forum.makerdao.com/t/gusd-mip6-collateral-onboarding-application/3319) |
| Add PAXG as a Collateral Type | Collateral Onboarding | [Vote](https://vote.makerdao.com/polling/QmYwY5gP?network=mainnet#poll-detail) | [Discussion](https://forum.makerdao.com/t/paxg-pax-gold-mip6-collateral-application/2584) |

#### Community Greenlight Polls

The greenlight polls will close on Nov 2, 2020 at 4:00 PM UTC

| Poll Name | Vote | Application |
| ---------- | ----------------- | ---------- | ----- |
| Aave USCD (aUDSC) | [Vote](https://v2.vote.makerdao.com/polling/QmS6DDGm?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/ausdc-mip6-collateral-onboarding-application/4159) |
| Compound USD (cUSDC) | [Vote](https://v2.vote.makerdao.com/polling/QmXkyxLm?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/cusdc-mip6-collateral-onboarding-application/4135) |
| Crypto.com Coin (CRO) | [Vote](https://v2.vote.makerdao.com/polling/QmQ838GQ?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/cro-mip6-collateral-onboarding-application-crypto-com/4453) |
| Curve DAO Token (CRV) | [Vote](https://v2.vote.makerdao.com/polling/QmQ838GQ?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/crv-mip6-collateral-onboarding-application/4535) |
| Kickfurther DROP (KF-DROP) | [Vote](https://v2.vote.makerdao.com/polling/Qmf2iKoC?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/kf-drop-mip6-application-kickfurther-drop-consignment-inventory-finance-for-ecommerce-retail-brands/4064) |
| OMG Network (OMG) | [Vote](https://v2.vote.makerdao.com/polling/QmcvCA4n?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/omg-mip6-collateral-onboarding-application/4211) |
| UPRETS Oosten Fund 1 LP (OST-1) | [Vote](https://v2.vote.makerdao.com/polling/QmVLFMnH?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/ost-1-mip6-collateral-onboarding-application-by-uprets-real-estate-backed-digital-security/4438) |
| Uniswap (UNI) | [Vote](https://v2.vote.makerdao.com/polling/QmeJ5Kgf?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/uni-mip6-collateral-onboarding-application/4433) |
| Uniswap WBTC-WETH Liquidity Tokens (UNI-V2-WBTC-ETH) | [Vote](https://v2.vote.makerdao.com/polling/QmZSHFXm?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/uni-v2-wbtc-eth-dai-collateral-onboarding-application/4279) |
| Uniswap USDT-WETH Liquidity Tokens (UNI-V2-USDT-ETH) | [Vote](https://v2.vote.makerdao.com/polling/QmTaHn4u?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/uni-v2-usdt-eth-dai-collateral-onboarding-application/4280) |
| yyCRV (yUSD) | [Vote](https://v2.vote.makerdao.com/polling/QmTMNnse?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/yusd-mip6-collateral-onboarding-application/4269) |

Check out [MakerBurn's Rundown page](https://makerburn.com/#/rundown) for a quick view of current available MakerDAO Vaults.

#### Last Week

| Name | Type | Result | Detail | Unique Voters |
| ------------ | ------- | ---------- | ----------- | -----|
[Increase the Surplus Buffer, Oracle Whitelisting](https://v2.vote.makerdao.com/executive/increase-the-surplus-buffer-oracle-whitelisting-october-23-2020?network=mainnet#proposal-detail) | Executive | **Passed** on Oct 26, 2020, 17:37 UTC. | System Surplus Buffer limit will increased from 2 -> 4,000,000 DAI.| 26

#### Signal Requests

- [Delist USDT as a Collateral Asset?](https://forum.makerdao.com/t/signal-request-delist-usdt-as-a-collateral-asset/4853)
- [Increase the LINK-A Debt Ceiling?](https://forum.makerdao.com/t/signal-request-increase-the-link-a-debt-ceiling/4863)
- [Raise the WBTC Debt Ceiling?](https://forum.makerdao.com/t/signal-request-raise-the-wbtc-debt-ceiling/4861)

## Updates

### MIPs

[Weekly MIPS Update #18](https://forum.makerdao.com/t/weekly-mips-update-18/4847)

Proposals in the Request-For-Comments (RFC) phase include:

- [MIP17: Weekly Actual Debt Ceiling Adjustments](https://forum.makerdao.com/t/mip17-weekly-actual-debt-ceiling-adjustments/4312/4)
- [MIP24: Emergency Response](https://forum.makerdao.com/t/mip24-emergency-response/4009/7)
- Recently [updated](https://forum.makerdao.com/t/mip24-emergency-response/4009/12) by @DavidU joining as one of the proposal’s authors.
- [MIP25: Flash Mint Module](https://forum.makerdao.com/t/mip25-flash-mint-module/4400/4)
- [MIP26: DssGov - Governance Contract Redesign](https://forum.makerdao.com/t/mip26-dssgov-governance-contract-redesign/4589/11)
- [MIP27: Debt Ceiling Instant Access Module](https://forum.makerdao.com/t/mip27-debt-ceiling-instant-access-module/4625/7)
- [MIP28: Operational Support Domain Definition](https://forum.makerdao.com/t/mip28-operational-support-domain-definition/4627/2)

Subproposals in the RFC phase include:
- [MIP13c3-SP6: SourceCred Funding](https://forum.makerdao.com/t/mip13c3-sp6-sourcecred-funding/4545/2)
- [MIP28c7-SP1: Subproposal for Operational Support Domain Facilitator Onboarding](https://forum.makerdao.com/t/mip28c7-sp1-subproposal-for-operational-support-domain-facilitator-onboarding/4628/2)
- [MIP4c2-SP6: Calendar Exceptions](https://forum.makerdao.com/t/mip4c2-sp6-calendar-exceptions/4546)

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

## Current Events

### Collateral Onboarding Framework

- [Collateral Onboarding Framework](https://forum.makerdao.com/t/collateral-onboarding-framework-a-model/4838) is live on the forum!
- [quote="juanjuan, post:1, topic:4838"]
Collateral Onboarding Framework is a model that attempts to compare and prioritize collateral types in an *as-objective-as-possible* way, in order to seed intelligent discussions.
[/quote]
- The Framework was created to allow Domain Teams, Working Groups, and external contributors to have an overview of the collateral types, their onboarding status, and their different characteristics.
- It aims to provide transparency to the broader Community and a common ground for discussions and potential future collaboration.

### New Governance Portal Revealed

- @derek presented the new [Governance Portal](https://vote.makerdao.com/) redesign on the [Community Call](https://forum.makerdao.com/t/new-voting-portal/4806) and there’s a [replay of his deep dive presentation](https://www.youtube.com/watch?v=0zFWRhXBxHc). The new governance portal introduces many new features including:
- A new landing page with a quick overview of available actions, system stats, and highlighted recent votes.
- The polling page has been revamped to allow batched polling.
- The executive voting page now displays past executive proposals and their respective execution dates and amount of MKR still in support. Users are also able to add comments along with their vote so the community can better understand the rationale behind why people vote a certain way.

https://imgur.com/gallery/VtHdxG7

### Maker Analytics

- @hexonaut [announced](https://forum.makerdao.com/t/official-launch-of-mkranalytics-com/4811) the launch of [Maker Analytics:](https://www.mkranalytics.com) A tool for viewing time series data from the Maker protocol.

## State of the Peg


- This week, the DAI peg dipped below the longer term $1.01 price floor.


- Dai supply creeps closer to a billion. USDC and ETH are the largest vault types.
- WBTC broke the 100 million mark to ~106 million.
- TUSD at 55 million, 23 million from PAX, ~4.8 million from LINK, 3.3 million from BAT.
- Other vaults are at ~1.2 million with LINK quickly breaking out of sub one million category.




- It appears the link marines discovered that Maker exists.


- Volume at around $152 million this last week.
- Average VWAP (Volume-Weighted-Average-Price) places Dai at $1.008.


- ETH vaults collateralization ratio looking healthier with price jumps, downward stepping across the 200-350 collateralization buckets.


- First liquidation wall at $316 where 35 million Dai is up for liquidation.


- The next large liquidation wall continues at the meme price of $280 ETH where 84 million would get liquidated.

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

## Community

### Articles and Videos

- [The Top Five Ways the Dai Stablecoin Is Used Around the World](https://blog.makerdao.com/the-top-five-ways-the-dai-stablecoin-is-used-around-the-world/)
- "As of this writing, almost a billion Dai have been generated and put to use in many ways, but primarily in the following five areas: inflation protection and savings, DeFi products and services, gaming, digital art, and E-commerce"
- STATIS and [Crypto.com](http://Crypto.com) [Collateral Onboarding Call replay](https://www.youtube.com/watch?v=AGU7_bGKeAQ)

### Maker Forum Deep Dai-ve

- [[Signal Request] Stablecoin Action Plan](https://forum.makerdao.com/t/signal-request-stablecoin-action-plan/4808)
- @hexonaut kindly put together a post that summarizes the various options the community has for addressing USDC-A Stablecoin dominance in the collateral portfolio.
- [MakerDAO Protocol Cover using Nexus Mutual](https://forum.makerdao.com/t/makerdao-protocol-cover-using-nexus-mutual/4761)
- @Hugh_Karp of Nexus Mutual talking about MakerDAO potentially taking out insurance against bad debt on the protocol.
- [Rate Setting Framework](https://forum.makerdao.com/t/rate-setting-framework/4809)
- The rates working group posted some guidance on the rate-setting framework that's going to be in use now that that's our proposal going through governance, so this will be a basic description of how rates proposals will be formed, what time things should happen.

### Tweet of the Week

https://twitter.com/MonetSupply/status/1320421472754495488?s=19

## Meetings and Events

### MakerDAO Open Calls

#### Community Call

- Tuesdays at 16:00 UTC | [Crowdcast](https://www.crowdcast.io/e/the-makerdao-community-17)

#### Community Collateral Onboarding

- Wednesdays at 17:00 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)
- This week join us October 28 for a discussion with [ConsolFreight at 17 UTC](https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-13-wednesday-october-28-17-00-utc/4839) and [Curve Finance at 18 UTC](https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-14-wednesday-october-28-18-00-utc/4840)

#### Governance & Risk

- Thursdays at 16:00 UTC | [Zoom](https://zoom.us/j/697074715)
- Message [#governance-and-risk](https://chat.makerdao.com/channel/governance-and-risk) for Admission
- [Agenda](https://forum.makerdao.com/t/agenda-discussion-scientific-governance-and-risk-116-thursday-october-29-16-00-utc/4835) | [Dial-in call link](https://zoom.us/) | [Calendar](https://calendar.google.com/calendar/embed?src=[e-mail]&ctz=America/Los_Angeles)
- [Archives](https://forum.makerdao.com/c/governance/gnr/8) | [Contributing](https://chat.makerdao.com/channel/gov-call-summaries)

### Community Events

- Oct 27: [The MakerDAO Community Call: Liquidations through B-Protocol with Yaron Velner and Eitan Katchka](https://www.crowdcast.io/e/the-makerdao-community-17)
- Oct 29: [Crypto Assets Conference (CAC20B)](https://www.crypto-assets-conference.de/)
- Nov 2: [Blockchain Summit Latam 2020](https://www.blockchainsummit.la/)
- Nov 6: [FriDAI Brunch #6 - Stories from the blockchain glass ceiling](https://www.crowdcast.io/e/fridai-brunch-6/)

### Hackathons

- Oct 2-30: [ETHOnline](https://www.ethonline.org/)

## Reference Links

Discuss and debate Maker governance in the [Forum](https://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/)

Check our [Governance Tools Resource](https://community-development.makerdao.com/en/learn/governance/participate) for links to things like; system status, Dai stability, collateral/liquidations, protocol analytics, auctions, and some of the history of governance.

### Have Feedback?

We value your input! Post in the [forum](https://forum.makerdao.com/), 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.*