Weekly Relay | October 20 - 28, 2022

--- tags: Weekly Relay --- # Weekly Relay | October 20 - 28, 2022 ![](https://i.imgur.com/6Fm2sq8.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, @Sol_Invictus, and @Artem_Gordon [Online PDF version](https://pdfhost.io/v/Lz5Jdrfdi_Weekly_Relay_Oct_2028_2022) --- ## 🍿 **CURRENT EVENTS** **Endgame** Maker's past few months felt like a microcosm of the global environment. We saw several internal crises, both real and imagined. The governance process underwent radical growth, and its politicization came naturally. This political introduction precipitated a rise in populism. Lines were drawn, and sides were chosen. However, this also led to increased participation in the governance process. With ideals set, proposals were further scrutinized, and the RFC process finally saw the required attention. These efforts were then boiled down into the Endgame MIP Set, and with its passing, the DAO again has a unified purpose. Not everyone will agree with the entirety of this purpose, but viewed piece by piece, the Endgame Plan offers several diverse routes for future growth. To that end, let us explore the many changes enacted by the Endgame Plan - our freshly ratified "collective purpose." ### [**Endgame Prelaunch MIP Set Passed 🍾**](https://vote.makerdao.com/polling/QmTmS5Nf#vote-breakdown) ![Endgame poll totals](https://i.imgur.com/LiJ0sCT.png) *Amassing over 80% of the total votes, the Endgame MIP Set passed with ease. As a result, the following protocol alterations will be enacted:* 1. [**MIP83: Recognized Launch MetaDAO Clusters**](https://forum.makerdao.com/t/mip83-recognized-launch-metadao-clusters/17709) > "MIP83 is a part of the Endgame Plan Approval MIP Set configuring the *Clusters* of the *Launch MetaDAOs*. This enables groups within the Core Units to begin preparations to restructure as MetaDAOs, a de-risked form of scaling the Decentralized Workforce available in the Endgame." 2. [**MIP84: Activate Protocol-Owned Vault Emulation**](https://forum.makerdao.com/t/mip84-activate-protocol-owned-vault-emulation/17713) > "This MIP activates the preliminary implementation of the Protocol-Owned Vault, using the *Protocol-Owned Vault Emulation* (POVE) approach, which uses a non-standard configuration of the existing Maker Protocol to achieve the effects of a Protocol-Owned Vault." With its passing, a Dss-Kiln will be configured and deployed to purchase stETH. An executive will then be crafted to transfer 20M Dai to this new vault. 3. [**MIP1c4-SP1: Subproposal for Changing the Problem Space**](https://forum.makerdao.com/t/mip1c4-sp1-subproposal-for-changing-the-problem-space/17710) > "MIP1 was largely forgotten and never managed to serve its purpose, but with the Endgame Plan, the same core concept is revived as there needs to be clarity around when Maker Governance starts to slow down and not invite so many proposals." Under the above terms, **five items** would be added to the "Problem Space" - or perceived inefficiencies in the Maker Governance model. * **Constitution:** The constitution is a MIP that contains the core tenets of the social contract and voter pre-agreements that stabilize the meta of the Endgame State. * **Endgame Product MIPs:** A set of MIPs that define each Endgame Product in as much detail as possible. Only products already detailed and defined in the Endgame Products MIPs can be added to the Maker Protocol. * **Scope MIPs:** The Scope MIPs are individual MIPs that each cover the 11 Scopes that define all Maker Governance processes and the expectations and KPIs of the Decentralized Workforce. Metanomics: The Metanomics MIP provides an immutable and unambiguous definition of what the long-run, unchangeable tokenomics of the Endgame State will be. This includes MKR emissions, Maker surplus funneling, MetaDAO emissions, and MetaDAO surplus funneling. * **Metanomics:** The Metanomics MIP provides an immutable and unambiguous definition of what the long-run, unchangeable tokenomics of the Endgame State will be. This includes MKR emissions, Maker surplus funneling, MetaDAO emissions, and MetaDAO surplus funneling. * **Launch MetaDAO Activation:** To trigger the Endgame Plan Launch, a Launch MetaDAO Activation MIP is required, as this authorizes the deployment and activation of the MetaDAO tokens and the MetaDAO token farms. 4. [**MIP4c4-SP1: MIP Removal Subproposals**](https://forum.makerdao.com/t/mip4c4-sp1-mip-removal-subproposals/17712) > "Continuation of the actual useful forms of collateral onboarding is already enabled entirely through the existing governance mandates and their ability to trigger relevant Executive Votes, as specified in MIP16, MIP39, and MIP41, but the Endgame Plan MIP Set also proposes additional amendments to emphasize this existing capability further and ensure that collateral onboarding can continue happening smoothly with no risk of unexpected blockers." 5. [**MIP4c2-SP27: MIP16 Amendment Subproposal**](https://forum.makerdao.com/t/mip4c2-sp27-mip16-amendment-subproposal/17711) > "This MIP is being amended to become compatible with the Endgame Plan and prevent Signal Requests (non-standard weekly polls) from dominating the governance dynamic and acting as a vector for unpredictable complexity growth and governance overhead." > > "This MIP Amendment *only affects Signal Requests leading to non-standard weekly polls* and does not change the standard and primary focus of MIP16." 5. [**MIP39c2-SP35: Modifying Risk Core Unit Mandate - RISK-001**](https://forum.makerdao.com/t/mip39c2-sp35-modifying-risk-core-unit-mandate-risk-001/17749) > "The updated mandate is written with a new approach where the critical element of the mandate explicitly and directly impacts Facilitator Governance Powers are provided upfront. This information is also described as short and succinct as possible to clarify what Governance Privileges the Core Unit Facilitator will have regarding proposing non-standard weekly polls as defined in MIP16." 6. [**MIP39c2-SP36: Modifying Strategic Finance Core Unit Mandate (SF-001)**](https://forum.makerdao.com/t/mip39c2-sp36-modifying-strategic-finance-core-unit-mandate-sf-001/17750) > "The Strategic Finance Core Unit Mandate is modified as a part of the Endgame Plan Approval MIP Set to eliminate any possible risk of the collateral onboarding process becoming disrupted or blocked by the removal of the old MIP6 process." 7. [**MIP39c2-SP37: Modifying Collateral Engineering Services Core Unit Mandate (CES-001)**](https://vote.makerdao.com/polling/QmTmS5Nf#poll-detail) Like the SES modification, this MIP aims to eliminate the risk of disrupting or blocking the collateral onboarding process. *Details on the proposals can be found [**here**](https://vote.makerdao.com/polling/QmTmS5Nf#poll-detail).* ### [**Core Units Offboarded - Next Steps**](https://forum.makerdao.com/t/executive-vote-cu-offboarding-next-steps/18522) A thread by @Patrick_J documents the following steps to be undertaken in the offboarding of three Core Units: SH-001, EVENTS-001, and RWF-001. [**SH-001**](https://forum.makerdao.com/t/executive-vote-cu-offboarding-next-steps/18522#sh-001httpsmipsmakerdaocommipsdetailsmip39c3sp3sentence-summary-1) * Both the DAI and MKR vesting stream will be halted. * 43,332 DAI and 26.04 MKR will be sent to the [**SH-001 multisig**](https://etherscan.io/address/0xc657ac882fb2d6ccf521801da39e910f8519508d). [**EVENTS-001**](https://forum.makerdao.com/t/executive-vote-cu-offboarding-next-steps/18522#events-001httpsmipsmakerdaocommipsdetailsmip39c3sp4sentence-summary-2) * The DAI vesting stream will be halted (there is no MKR vesting stream). * 167,666 DAI will be transferred to the [**EVENTS-001 multisig**](https://etherscan.io/address/0x3d274fbac29c92d2f624483495c0113b44dbe7d2). [**RWF-001**](https://forum.makerdao.com/t/executive-vote-cu-offboarding-next-steps/18522#sh-001httpsmipsmakerdaocommipsdetailsmip39c3sp3sentence-summary-1) * Like EVENTS-001, DAI vesting will be halted, and no MKR vesting stream exists. However, unlike the previously mentioned offboardings, RWF-001's budget flow includes an auditor wallet. The offboarding MIP specifies that all payments should be routed through [**this wallet**](https://etherscan.io/address/0x96d7b01cc25b141520c717fa369844d34ff116ec). **After discussions with the auditors from the @SES-Core-Unit, the following will occur:** 1. Zero DAI will be sent from the surplus buffer to the auditor wallet - the auditor wallet has sufficient DAI balance to fund the remaining offboarding costs. 2. Any DAI balance above 176,000 DAI in the auditor wallet will be returned to MakerDAO via DssBlow. 3. 143.46 MKR will be sent to the auditor wallet - this is the approved 201.46 MKR minus the 58 MKR already in the auditor wallet. 4. The auditors will arrange separate MKR payments to team members per the amounts listed in the offboarding proposal. *The full post can be found [**here**](https://forum.makerdao.com/t/executive-vote-cu-offboarding-next-steps/18522).* ### [**User Retention Revenue Share, Fixed-Rates, and Decentralized Collateral Scopes**](https://forum.makerdao.com/t/fixed-rates-strategies-and-mechanisms-in-the-decentralized-collateral-scope/18529) @rune further details the fixed-rate mechanisms and strategy utilized in the increased decentralization of DAI's collateral backing. ***These mechanisms only apply to Maker Core Vaults that do not directly support MetaDAO token yield farming.*** 1. [**User retention revenue share bonus**](https://forum.makerdao.com/t/fixed-rates-strategies-and-mechanisms-in-the-decentralized-collateral-scope/18529#user-retention-revenue-share-bonus-1) This bonus is based on the observation that long-standing vaults are less likely to be liquidated and would come in addition to the standard 25% stability fee revenue share available to both MetaDAO and "ecosystem actor" frontends. The initial parameters enable a 10% bonus accrued over one year. To help illustrate this accrual: > This means that if a user opens a vault through a MetaDAO frontend and it pays 1000 Dai in stability fees over a period of one year, the MetaDAO gets a total 10% bonus on top of the standard 25% for the entire period, so a total of 35% in revenue share over that one year, for a total of 350 Dai. > >If a user opens a vault that pays 500 Dai in stability fees over six months before closing, then the MetaDAO gets half of the bonus, so 5%, for a total of 30% for the six months or 150 Dai. 2. [**Fixed Rates Module**](https://forum.makerdao.com/t/fixed-rates-strategies-and-mechanisms-in-the-decentralized-collateral-scope/18529#fixed-rates-module-2) > "*The Fixed Rates Module* is a conceptual system that allows Maker to target a fixed rates strategy for decentralized assets and its own vaults by using protocols like Deco and other similar products built by fixed rates projects such as Element or Sense." Under this model, Decentralized Collateral CUs create a target portfolio based on the information it collects through the *Stability* and *Liquidity* Scopes. For example, "a CU might target the accrual of 10% of its total Dai supply locked into term vaults (that the user must pay to wind down early) -- and 5% of the total Dai supply into premium fixed rates vault, which can freely wind down early." *The full outline can be found [**here**](https://forum.makerdao.com/t/fixed-rates-strategies-and-mechanisms-in-the-decentralized-collateral-scope/18529#fixed-rates-module-2).* --- ## 📢 Shout-outs! [**Intra-protocol Vault Exposer Migrations**](https://forum.makerdao.com/t/vault-user-research-intra-protocol-exposure-migration/18447) Research analysis The Risk team examined vault exposure migrations in a broader context, focusing only on intra-protocol exposure movement. They looked at major collaterals such as ETH, stETH, and WBTC. According to the analysis, intra-protocol migrations are not common since most vault owners tend to keep to vaults that offer better borrowing conditions (e.g., lower liquidation risk). Though the exact reasons are unknown, the team believes the rationale is that users are more cautious during bear market conditions. The Risk team hopes to investigate cross-protocol migration in the future. *See the report for a complete breakdown!* [**Multiparty Democracy in Decentralized Autonomous Organization (DAO): Evidence from MakerDAO**](chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://arxiv.org/ftp/arxiv/papers/2210/2210.11203.pdf) Research paper A group of researchers consisting of Ph.D. student Xiaotong Sun, associate professor Xi Chen, professor Charalampos Stasinakis, and professor Georgios Sermpinis attempt to answer the controversial question: can blockchain technology help to achieve decentralized governance? Using actual governance data from MakerDAO, they examine whether DAO governance is a multiparty democracy and how voting parties affect DeFi protocols. --- ## :phone: **Calls, Meetings, and Events**  **Visit:** [_Calls Calendar_](https://calendar.google.com/calendar/u/0?cid=bWFrZXJkYW8uY29tXzNlZmhtMmdoaXBrc2VnbDAwOWt0bmlvbWRrQGdyb3VwLmNhbGVuZGFyLmdvb2dsZS5jb20) #### Last Week's Calls: - **Delegate Office Hours:** OUSD Decentralized Rewards - [Video](https://youtu.be/pyZv41wlzhI) / [Forum](https://forum.makerdao.com/t/mip87-ousd-decentralized-rewards/18216) - **Know Your MIP #15:** MIP87 - OUSD Decentralized Rewards - [Video](https://youtu.be/Hg0tPdE1kzE) / [Forum](https://forum.makerdao.com/t/know-your-mip-15-mip87-ousd-decentralized-rewards/18457) - **MakerDAO Governance & Risk Meeting #212:** DevCon Bogota Recaps; RWF Offboarding: _points of clarity;_ Endgame PreLaunch MIP Set - [Video](https://youtu.be/ePMfIUrG9Q8) / [Forum](https://forum.makerdao.com/t/governance-and-risk-212-thursday-october-20-at-17-00-utc/18427) / [Editorial]() - **Meet Your Delegate #21:** CalBlockchain and Consensys - [Video](https://youtu.be/axEO50fMujs) / [Forum](https://forum.makerdao.com/t/meet-your-delegate-21-calblockchain-daostrat-c/18418) - **Decentralized Voter Committee:** Fixed Rate Strategies & Decentralized Scopes - [Video](https://youtu.be/M9WX4QD1yEM) / [Forum](https://forum.makerdao.com/t/purpose-2-0-endgame-clean-money-and-nuclear-energy/18421) / Clusters: ([I](https://forum.makerdao.com/t/viridian-cluster-introduction/18332) / [II](https://forum.makerdao.com/t/spring-cluster-introduction-and-proposal/18398) / [III](https://forum.makerdao.com/t/crimson-creator-cluster/18241) / [IV](https://forum.makerdao.com/t/tiedai-creator-cluster/18369)) - **Delegate Office Hours:** Endgame: Surplus Buffer, Risk, RWAs, and more - [Video](https://youtu.be/15Me6MB6pyU) / [Forum I](https://forum.makerdao.com/t/endgame-plan-diagram-of-the-scopes-and-ecosystem/18139) / [Forum II](https://forum.makerdao.com/t/fixed-rates-strategies-and-mechanisms-in-the-decentralized-collateral-scope/18529) - **MakerDAO Governance & Risk Meeting #213:** Endgame Effects w/ Core Units; MIP88: Monetalis - Redwood Friesian; MIP89: Monetalis - Arrow Andalusian; MIP88/89 Stakeholder Questions - [Video](https://youtu.be/m6B5V7hcvEA) / [Forum](https://forum.makerdao.com/t/governance-and-risk-213-thursday-october-27-at-17-00-utc/18494) / [Editorial]() #### Special Events: - [Link](https://lichess.org/tournament/jkbnx13O) / [Discord Channel](https://discord.com/channels/893112320329396265/1024352244335902720) | **MakerDAO Chess Arena Tournament!** #### Upcoming Calls: - **Decentralized Voter Committee** - Wednesday, November 2nd, 19:00 UTC - [Join Link](https://us02web.zoom.us/j/89326394914) - **Delegate Office Hours** - Thursday, November 3rd, 16:00 UTC - [Join Link](https://us02web.zoom.us/j/88920093364) - **MakerDAO Governance & Risk Meeting #214** - Thursday, November 3rd, 17:00 UTC - [Join Link](https://zoom.us/j/697074715) ### Core Unit Office Hours - [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) / Alternative: [Join Link](https://makerdao.bigbluemeeting.com/adm-eox-jtz-tsi) | _**Immunefi Security**_ - Every Other Monday at 23:00 UTC / Alternative: Every Other Wednesday 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://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/81560369659) | _**6S Capital**_ - Every Other Wednesday at 14:00 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 --- ## ⚓ **Resources**  <details><summary>Open List</summary> ▶ [All Available Dashboards](https://forum.makerdao.com/t/all-available-dashboards/16104) ▶ [All Available Guides](https://forum.makerdao.com/t/all-available-guides/16159) | [Google Sheet](https://docs.google.com/spreadsheets/d/1cb9x9r_MPDHqAzUGTxdECzzismFbnV-IwaWUMDeIAPY/edit#gid=0) ▶ [Calls Calendar](https://forum.makerdao.com/t/the-calls-calendar/16095) ▶ [Core Units](https://forum.makerdao.com/c/core-units/31) ▶ [Delegates](https://vote.makerdao.com/delegates) ▶ [Forum](https://forum.makerdao.com) and [Maker Discord](https://discord.gg/YtBXXYuVDB) ▶ [Forum Explorer](https://forum.makerdao.com/explorer) ▶ [Forum discussions - Governance Dashboard](https://www.makerdao-governance-dashboard.com/tracker/forum-discussions) ▶ [Governance Dashboard Tracker](https://www.makerdao-governance-dashboard.com/tracker) | [Google Sheet Version](https://docs.google.com/spreadsheets/d/1LWNlv6hr8oXebk8rvXZBPRVDjN-3OrzI0IgLwBVk0vM/edit#gid=0) ▶ [Guides](https://forum.makerdao.com/c/resources/guides/72) ▶ [Job Opportunities](https://forum.makerdao.com/c/resources/job-opportunities/11) ▶ [Learning Portal](https://community-development.makerdao.com/en/learn/) and [Technical Documentation](https://docs.makerdao.com/) ▶ [MakerBurn](https://makerburn.com/#/rundown) ▶ [MakerDAO’s Discord Servers](https://forum.makerdao.com/t/makerdaos-discord-servers/16110) ▶ [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> ### 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.*