G&R #157 Snippet

--- tags: Snippets --- # G&R #157 Snippet Domain team updates, Collateral Onboarding, active discussions, and more. All the updates from MakerDAO Governance and Risk Call #___ in this `snippet.` ## Governance - The [executive proposal](https://vote.makerdao.com/executive/template-executive-vote-vault-onboarding-6s-updates-and-reducing-vault-liquidation-ratios-august-20-2021?network=mainnet#proposal-detail) from two weeks ago has passed. - Both polls to Lower the Flash Mint Fee to 0% and Add RWA007 (SolarX) as a new RWA Vault Type has passed. - Three community greenlight polls have closed. Two of them were greenlit, and one deferred. - A bunch of interesting things going into next week’s executive. ### Forum at a Glance [Forum at a Glance: August 27 - Sept 2](https://forum.makerdao.com/t/forum-at-a-glance-august-27th-september-2nd/10125) ## Team Updates ### GovAlpha [GovAlpha Weekly Update](https://forum.makerdao.com/t/govalpha-weekly-update-2021-09-02/10130) - Onboarding has been going particularly well this past week. - Got a new member, @TheExistence, who started doing some work for us, so say hello if you see him on the forums or RocketChat. - @LongForWisdom is exploring how Core Units can better understand Project Priority from voters/the community at large. ### Protocol Engineering - Layer 2: - Arbitrum’s Layer 2 launched. - We’re running a final audit and should have the DAI Gateway launched within a few weeks. - Reason: it’s a custom gateway that allows us to have fungible DAI. - Met with Optimism Team. - They are planning an upgrade in October, making deployments feel very much like L1. - Keeping regular Sync with Proposed StarkNet Team. - Check out their Pod session this week; I also had Bartek give a good discussion on some of the potential relations with the PE team. - Synch with Oracles to discuss opportunities for sending messages over to L2. - Message passing infrastructure - requirements documentation. - Wrapped up several FV tasks - using Certora: - L2 DAI - writing specs, the inclusion of the permit function. - DssVest - FV and fuzzing (automated software testing technique). - Other work this week: - Adding MATIC support to the auction keeper. - Goerli Deployment work - All complete except for Centrifuge RWAs (sharing goETH). - GUNI - we completed the internal team audit and have ABDK doing an audit later this month. - Ongoing Audits: - B.Protocol auditing DssCharter to support institutional vaults. ### Oracles - Continuing development for stETH, which should be complete within the next few weeks. - Thinking about long-term roadmap planning; looking at bridge alignment and overlap of needs for products and services. - Want to develop the Fast Withdrawal Bridge for Optimism first before applying it to other areas. - Want to create a standardized interface for cross-chain communication. - This is all still early and under initial research for ideas. - Hired a design firm to generate logos, typography, and more. - Discussed with TechOps to continue infrastructure monitoring for us. - Entity formation underway; will complete setup within the next two weeks. - Making progress on finding a banking partner - may take a few months. ### Risk https://forum.makerdao.com/t/risk-core-unit-month-in-review-august-2021/10106 - New Dashboards and planned features. - KNC-A offboarding parameters posted. Other collateral will follow next with similar steps, or parameter adjustments proposed to offboard them. - Still working on the Nexo Institutional Vault risk assessment; in the meantime, waiting for the poll’s outcome to confirm or adjust loan terms. - Evaluation is 80% complete and adding few new sections. - Still thinking about auction parameters for this kind of vault and thinking of limiting auction throughout because of the size of the loan and at the same time increasing liquidation penalty. - Evaluating DssCharter implementation - might have some risks if the borrower doesn’t know how to use flash loans or doesn’t have external capital available to perform top-ups or repays. - PSM-PAX-A evaluating proper DC IAM parameters, which are currently disabled. We could decrease `gap` PSM USDC-A and at the same time increase it for PAX - that will lower tail risks of particular stablecoin failure, plus diversification benefits. - Looking into stETH/ETH Curve pool as next collateral evaluation. ### Growth [Growth CU weekly update](https://forum.makerdao.com/t/growth-cu-weekly-update-august-27-september-2/10131) - Posted a [signal request](https://forum.makerdao.com/t/signal-request-nexo-institutional-vault/10046) for launching the Nexo Institutional Vault. - Nexo posted a financial analysis of these kinds of Vaults. - Speaking with institutions who know how to handle and protect their positions. - Suggest that we should not offboard Loopring, BAT, and MANA tokens. They are interested in using the Maker Protocol - Loopring and MANA opened positions in Maker Protocol. - Discussing with them to continue using these vaults. - Strategy for Maker Growth: - Thinking about how to involve DAI in NFT and Metaverse solutions appearing. - Working with various artists and popular gaming tournaments to implement DAI. - Continuing strategy with Metaverse working on NFTs. - PAXOS team began using the PSM and are interested in increasing the DC. ### Content Production [Content Production Bi-weekly Update](https://forum.makerdao.com/t/content-production-bi-weekly-update-8-19-9-1/10129) - New six-month budget will be up within the next few days. - Engaging with a lawyer to better understand our communication boundaries. - Hosted AMAs with [Planet_X](https://www.youtube.com/watch?v=ncZejeOhwjQ) and Nadia. - Updated Maker Relay videos by replacing Current Events with Forum at a Glance - Syndicating Maker Relay updates with Substack. - Posted update on brand research that was conducted. Results show that people focus on the value of the community. Feedback on this would be appreciated. - Alec has been working on a dashboard that tracks MakerDAO metrics and beginning production on another to help consolidate Dai on Different Networks. ### Governance Communications [GovComms Bi-weekly Update](https://forum.makerdao.com/t/govcomms-bi-weekly-update-2-aug-19-sep-02/10126/2) * We received Dai, setup with AccountAble in progress. * Our accounting actuals will begin getting posted starting the first week of October. * Summary Team now has coverage of every public call except CU Tools & CU Rituals. * Hunt for an [Engagement Lead](https://makerdao.recruitee.com/o/engagement-lead-govcomms) continues. * We started an internal people list, with a public version of this resource planned for the future. * We cleaned up the old Emergency Communications Process document and formulated a plan for this document. The plan is to make this into an all-encompassing Emergency Playbook that contains information on Emergency types, MakerDAO’s threat monitoring practices, the various coordination tracks(and associated processes.) * What began as a Team update audit has expanded into a general “information output” audit. We are continuing work on this, expecting to have a complete set of information by the end of the month. * Forum at a Glance now has a [project overview document](https://docs.google.com/document/d/1Gb7RIw9NMbEJVCNr9rrCRZlGebN83ZnYjb74Uxp0BQQ/edit?usp=sharing). You can also find the FaaG presentation that Artem does [on Youtube](https://youtu.be/9W0YkRaTA84), thanks to Content Production! * The Monthly Governance Review now also has a [project overview document](https://docs.google.com/document/d/1jRR13v1mS-n3MuIdG2oV_eP5Lb-xEmmr8zGmqP0kdZ4/edit?usp=sharing) * Our office hours are set to Fridays 1800-1830 UTC and are available on the public calendar. ### Sustainable Ecosystem Scaling [SES Public Drive](https://drive.google.com/drive/folders/1rjeOpHmE-kgFvkrliw2DlI810FhxPkp7) - Project X-Ray: - Presentation of Preliminary Findings by @lenka & @jordanj found in the SES Public Drive - Help wanted with Qualitative Research by filling out this [form](https://form.typeform.com/to/f9sWbRXi). - Project Legal Framework: - Presentation tomorrow @14:30 UTC by @layerzero. - Past Calls: - CULPS: Starknet with @louismerkle on 01.09. - Upcoming Calls: - CULPS: Strategic Happiness with @burban on 08.09. - CUT: Ethereum Naming Service with @makoto on 10.09. - CULPS: DUX Core Unit with @dux-team on 15.09. ### Real-World Finance [RWF Monthly Core Unit Report](https://forum.makerdao.com/t/real-world-finance-core-unit-report-2021-08/10123) - SolarX was [approved](https://vote.makerdao.com/polling/QmNfzNPY?network=mainnet#vote-breakdown) by Governance. - Working on setting up the Cayman Foundation and the deal documentation. - On-chain securitization roadmap: - Had our first call between Shearman & Sterling and Manatt. - Growing the team: - New full-time recruit should join us next week. Keeping the Core Unit small; less than 7 FTE. - RWA reporting will be done by William going forward. ### MIPs [MIPs Update #51](https://forum.makerdao.com/t/weekly-mips-update-51/10079) - We had a gap week, which means there were no events planned for the week. - Formal Submission Window for eligible proposals for September opens on Monday 6th.