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tags: Voices of MKR
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# Voices of Maker Relay #29

(Input Relay Image for video use)

"Hey everyone, thanks for checking out Maker Relay

Today's January 25, 2021 and this is your one-stop-shop for updates on the MakerDAO ecosystem."

## Executive

"At the time of recording, the only executive vote is for the January Governance MIPs bundle. This vote includes;

MIP29, for the Peg Stability Module. MIP30 for CropJoin - the Farmable cUSDC Adaptor, a Declaration of Intent for the Governance Communications Domain, and MIPs to Onboard Sébastien Derivaux to the Risk Domain, Sam MacPherson to the Smart Contracts Domain, and Juan to the Operational Support Domain."

### Polls

"Next up we have governance polls for the week.

This week there's one poll proposing the addition of the New Silver DROP token as a collateral type. This collateral would have a 3.5% stability fee, 105% collateralization ration, and a 5 million DAI debt ceiling."

#### Community Greenlight Polls

Next up we have Community Greenlight polls.

"The community greenlight polls will close on Feb 1 at 16:00 UTC. We have 10 currently up from last week, still available for voting.

These include;

RenVM wrapped Filecoin,
LidoDAO Staked Ether,
Peoples Company DROP token,
xDAI STAKE token,
Wrapped Filecoin
balancer pool tokens for the wrapped bitcoin/etherum pool
Uniswap LP tokens for pairs involving DAI and...
DAI & Wrapped Bitcoin liquidity token
Uniswap DAI & USDC
Uniswap Dai & USDT
Uniswap Dai & YFI

#### Last Week

"Last week in governance, the community posted it's first community-created executive vote.

This marks two important milestones in MakerDAO's march toward progressive decentralization, both in the submission of the first community-created executive vote and having the vault compensation working group paid by the DAO rather than the Foundation.

This vote passed on the 25th of January and includes a number of changes:

The Maker Protocol now includes vaults accepting LP tokens from the Uniswap V2 USDC/Ethereum pools and the Uniswap V2 Wrapped Bitcoin/Ethereum vault types.

The Link, MANA, and PSM-USDC debt ceilings have increased and the the BAT, TUSD, and the global system debt ceilings have decreased.

The dust parameter has been increased from 500 to 2000 DAI on the existing vault-types, which means that the minimum amount of DAI minted from collateral provided must be higher than 2000 DAI.

Instadapp will be whitelisted on the Eth_USD Oracle Security Module oracle.

And finally, DAI is being paid to the vault compensation workin group for their efforts to compensate Vault owners affected by the Black Tuesday event last February.

#### Signal Requests

"Next up we've got the recent Signal Requests. There are often new signal requests so please check the forum for the most recent signals.

We have 3 requests to discuss, which include;

Another request to raise the debt ceiling on the Eth-A vault. Since the last vote raised the ceiling to 1 billion, almost 65 million more DAI have been created using Eth collateral. This signal is asking if we want to raise it, once more.

A request to create a new vault-type for ethereum, with a higher liquidation ratio. This would offer lower stability fees, for people who want to remain highly over-collateralized.

Last up, we have a signal for an interim DAO budget, which is still up from last week.

## Updates

### MIPs

Next up, we have this week's Maker Improvement Proposals.

These MIPs are in the Request-For-Comments phase so please head to the forum to provide feedback.

#### We have 11 Proposals in the Request-For-Comments phase, which are:

MIP 26 is the Governance Contract Redesign, which defines DssGov, a contract replacement for DSChief. DSChief facilitates voting on the current state of the Maker Protocol and the proposed redesign is said to come with improved security, usability, and functionality.

MIP31 proposes the creation of an automated market maker to fund an active reserve of liquidity to cover Dai owners in case of an emergency rather than drawing an active reserve from the surplus buffer.

MIP32: for the Peg Stability Module for Compound Mixed Exposure, which provides an extension for the PSM that allows Maker Governance to convert USDC and cUSDC for Dai and cDai to help maintain Dai's peg with the US dollar.

MIP34: to create the Keg Streaming Payments Module. The Keg is a tool for streaming DAI to a preset group of addresses from the Surplus Buffer to cover costs accrued by the DAO.

MIP37: defines the Static Reserve For Governance. This Mip Defines a static reserve which can receive any tokens from anyone, as any contract and allows Maker Governance to withdraw them.

MIP38: covers the DAO Primitives State. DAO Primitives State defines all the core units, budgets, and facilitators within the DAO. This MIP has a few MIPs and sub-proposals that follow, in order to create a full framework.

MIP39: contains the Core Unit Framework, for managing and modifying the Core Units outlined in the DAO Primitives State.

MIP40: for the Budget Framework Contains framework for managing budgets and modifying them within the constraints of the DAO Primitives State MIP38.

MIP41: Contains the Facilitator Framework with subproposal processes for managing Facilitators and modifying them within the DAO Primitives State MIP38, as well.

MIP42: is for a Compensation Addendum for MakerDAO Contributors, which proposes to pay contributors partially in time-locked MKR to increase value returned to contributors and directly align their interests with those of MakerDAO.

and finally, MIP43: Term Lending Module (TLM), which proposes an integration with Yield Protocol. Authors Allan and Alberto are employees of Yield, a company working to build Yield Protocol.

#### we have 4 Sub-proposals in the Request-For-Comments phase, which include:

MIP13c3-SP9: Onboarding a new collateral type backed by B.Protocol, which is a Declaration of Intent.
This proposes an experiment for a native integration between B.Protocol and the MakerDAO system, by on-boarding an existing collateral type, namely Wrapped BTC or ETH with lower Collateralization Ratio, natively backed by a strong commitment from the B.Protocol backstop.

MIP4c2-SP10: Proposes to make Amendments to MIP0 that would make it compatible with the new Domain Framework proposed in MIPs 38 through 41. This proposal would remove the ability to onboard core personnel from MIP0 and would instead use MIP38, the DAO Primitives State, to govern the onboarding of Governance Facilitators by Maker Governance and allows Governance Facilitators to designate MIP Editors.

MIP4c2-SP11: MIP5 Amendments
Proposes edits to MIP5 that make it compatible with the newly proposed Core Unit Operating Model MIP set, the main change being the Governance Facilitator Emergency Vote process, which directly deals with onboarding and offboarding Facilitators.

MIP4c2-SP12: MIP16 Amendments
Proposes edits to MIP16 that makes it compatible with the newly proposed Core Unit Operating Model MIP set. The main change is to clarify the Governance Powers of Facilitators.

## Domain Updates

"Next are updates from our Domain Teams."

### Smart Contracts

The Smart Contracts Domain team has been engaging with smart contract auditors for the Liquidations 2.0 module, squashing bugs in the meantime and working on code for MIP21 to accept Real World Assets as collateral in the Maker Protocol.

The team also helped with the community executive last week led by Sam, which Passed."

### Risk

The Risk Domain Team has published an evaluation for MIP30, the farmable USDC adapter, which is now available the forum.

The team has also been looking into risk parameters for the LP tokens being proposed by the community for use as collateral types.

The risk team has also been evaluating the Instant Access Module for Debt Ceilings on all vaults. The current assumption is that it would not be good for use in conjuction with the peg stability module.

### Oracles

The Oracles Domain Team is working with audit firm ABDK, which has been going well. The audit of the Uniswap token LP Oracles is expected to be complete by end of February.

The oracles assessment of centrifuge has gone live on the forum, and is currently a governance poll up for voting on.

The Oracles team is also working on a MIP to modify the process for whitelisting oracles in light of the fact that the team has never rejected a whitelisting proposal and the current process provides unnecessary permissions to the Oracles team.

## State of the Peg

Dai has had no trouble maintaining its peg recently and there are now over 1.5 billion Dai in circulation, over 900 million of which are backed by Ethereum.

### Have Feedback?

That’s all for this edition of Maker Relay. Please post in the forum, take our survey, or join us in the Community-Development chat channel to let us know what you want to see.

Check out the links in the description for more information and thanks for listening!

# Description:

Forum: https://forum.makerdao.com

Rocket.Chat: https://chat.makerdao.com

Voting Portal: https://Vote.MakerDAO.com

Maker Relay (written version): https://forum.makerdao.com/t/maker-relay-ep-29/6214

Learn more about the Maker protocol: https://docs.makerdao.com

Check our Governance Tools Resource: https://community-development.makerdao.com/governance/governance-tools

*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 exclusively.*