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# System prepended metadata

title: 'G&R #126 Snippet'
tags: [Snippets]

---

---
tags: Snippets
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# G&R #126 Snippet

Domain team updates, Monthly MIP Bundle, active discussions and more. All the updates from MakerDAO Governance and Risk Call #126 in this `snippet` 

## Team Updates

### Governance

- Executive activating DC-IAM on ETH-A tomorrow tomorrow. More info on that module here [DC-IAM](https://community-development.makerdao.com/en/learn/governance/module-dciam).
- Continuing to onboard @prose11 and @Elihu. 
- @Prose is making some changes to [Governance at a Glance](https://forum.makerdao.com/t/governance-at-a-glance-jan-22-28-2021/6254), please provide feedback about what you'd like to see.

### Smart Contracts

- Vault working group compensation payment went out.
- [Monthly Executive Vote](https://vote.makerdao.com/executive/approve-january-2021-governance-cycle-bundle?network=mainnet#proposal-detail) from Monday passed.
- 2 collateral assessments from @hexonaut: 
    - [UNI-V2-DAI-USDC](https://forum.makerdao.com/t/uni-v2-dai-usdc-erc20-token-smart-contract-technical-assessment/6232)
    - [UNI-V2-ETH-USDT](https://forum.makerdao.com/t/uni-v2-eth-usdt-dai-collateral-onboarding-application/6231)
- Updates to liq 2.0: working with auditors, view [code](https://github.com/makerdao/dss/tree/c8a134429192a089bed6cc65ae8b73203fbb8374) if you'd like to share extra eyes.
- Reviewed MIP 21 and MIP 22, one of them will likely go to Kovan next week
    - [Code for 22](https://github.com/centrifuge/tinlake-maker-lib/pull/18) and [Fixes 22](https://github.com/centrifuge/tinlake-maker-lib/pull/23)
-  3 more LP tokens are in the pipeline for review 
    - LP tokens are difficult to test on Kovan so will be heading straight to main-net
- Sam: PR for masterchef distributor contract on Sushiswap; it's an extension to the `cropjoin` adapter. There is a COMP specific strategy on `cropjoin` but you could extend that strategy to work for any rewards program. Like UNI or Sushiswap. It's pretty simple to add different adapters.

## Oracles

- Finishing the ABDK audit requests.
- All 3 LP tokens hit the max DC in less than 24 hours. The demand is clearly there.
- There are other opportunities like Sushiswap for liquidity but the rewards there come from the underlying Sushi which you don't get with just the LP tokens in Maker.
- This demand might indicate [MIP30](https://forum.makerdao.com/t/mip30-farmable-cusdc-adapter-cropjoin/5163) is prioritized since we could start to adapt it to other rewards programs. 
    - Just quick math: 3x leverage though Dai generation into the sushiswap pool is something like 220% APY. Which nets SF's that are healthy for the protocol. It's a sustainable revenue for the near term.
- @Marcandru put in serious work on 17 starkware oracles for DyDx. We're testing those. Poll should go out Monday for whitelisting. 
    - The Exec we'll delay a few weeks out to coordinate with SC team. This is the first oracle work on L2 🙌

### Risk

- 2 UNI LP evaluations done, both in review and will be published in coming days (DAI<>USDC & USDT<>ETH). On the docket next are more LP pairs with high liquidity:
    - UNI<>ETH 
    - LINK<>ETH
    - AAVE<>ETH
- We might need to increase rates soon to offset debt risks. Especially since SB or box or anything liquidation are in the works and not live yet. Rates are currently the only tool to lower debt exposure. 
- Additional sets of parameters for [ETH-A DC IAM](https://forum.makerdao.com/t/iam-dc-eth-a-parameters-27th-jan-2021/6235).
- Updating risk premiums, finishing a budget proposal to go into next monthly cycle.

### RWA with newly ratified @SebVentures!

- [Crash in slow motion](https://forum.makerdao.com/t/crash-in-slow-motion-scenario-analysis/6204) - Examines the risk with a "slower" large market correction to the Maker Protocol
- Working on how to scale RWA.
- [Core Unit proposal](https://forum.makerdao.com/t/mip39c2-sp1-adding-core-unit-real-world-finance/6224) for the newly named "Real World Finance" group.
- [Surplus Buffer Panel Discussion](https://www.crowdcast.io/e/the-makerdao-community-29) happening this coming Tuesday.

### Operations & Collateral Onboarding

- Welcome @juanjuan! our newly ratified operational support facilitator! 
- Lido Finance on came on collateral onboarding call, [check out replay](https://www.youtube.com/watch?v=wZWmh3FLaZY)
- [REINNO will be next](https://forum.makerdao.com/t/collateral-onboarding-call-26-reinno-wednesday-february-3-18-00-utc/6242), on Wednesday, February 3rd at 18:00 UTC 
- [TLDR for Core Unit Onboarding Proposals](https://forum.makerdao.com/t/tl-dr-core-unit-mips-submission-process/6245) 
- [Core Units I wish Existed](https://forum.makerdao.com/t/core-units-i-wish-existed/6248)
- [KYM #3 Call for Core Operating Model Video Replay](https://www.youtube.com/watch?v=iOu_x8OelEQ&t=2957s)
- [KYM #4 for the Keg](https://forum.makerdao.com/t/know-your-mip-04-keg-streaming-payments-module-friday-february-6-18-00-utc/6237) coming next Friday, February 5th at 18:00 UTC 

### Community Development

- 16 meetup applications this month, 14 accepted.
- LatAm DAI Action Groups are completing their 2nd quarter of operation and will provide more metrics after completing a retro
- Seth and Kevin from SourceCred came on the community call to talk about the new weight changes in the forum implementation as well as a new method of minting Cred based on categories and tags within Discourse that their team hopes to roll out by next month. [Watch the replay](https://www.youtube.com/watch?v=Br49AirqJDs).
- Governance and Risk updates are coming to Substack! Provide feedback on what kind of updates you would be interested in receiving in [this thread](https://forum.makerdao.com/t/makerdao-updates-on-substack-snippets-in-your-inbox/6175) and sign up for updates [here](https://makerdaoupdates.substack.com/)
 
### MIPs

- [Monthly MIP](https://vote.makerdao.com/executive/approve-january-2021-governance-cycle-bundle?network=mainnet#proposal-detail) bundle passed
- Formal submission for the next cycle begins February 1 for those that completed RFC.
- Record breaking 18 proposals in [RFC right now!](https://forum.makerdao.com/c/MIPs/rfc/15)
- Any new ideas for MIPs should be posted on the Forum as a "Pre-MIP Discussion" 
- There's still 3 days left to vote for January Greenlight Polls, [don't forget to vote!](https://vote.makerdao.com/polling?network=mainnet) 

## Other Presentations and Updates

- [Real Vision–with Greg Deprisco](https://www.realvision.com/shows/expert-view-crypto/videos/stablecoins-the-bedrock-of-decentralized-finance) bridging DeFi knowledge with traditional finance. This publication is an expensive subscription so please enjoy while it's not behind a paywall.


## Peg

- 7 day VWAP places Dai at $1.001.
- New record for Dai in circulation 1.6 billion, with 4.71 Billion TVL.



