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# System prepended metadata

title: 'Forum at a Glance | November 10 - 16, 2022'
tags: [Forum at a Glance]

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tags: Forum at a Glance
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# Forum at a Glance | November 10 - 16, 2022

![](https://i.imgur.com/vXY68pI.png)

Welcome to the one-stop shop for everything discussed on the MakerDAO forum.

Summaries reflect our views of the most meaningful activities in MakerDAO. Disagree? Think something should be added? Leave a reply or send a PM.

Authors: @nothsa and Artem Gordon

<small>[PDF version](https://pdfhost.io/v/sOTXhV7Kd_November_10_16_2022)</small>

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## Three-Point Summary

<small>*‘What is the most relevant information on the forums this week for MKR and Dai holders?’*</small>

**1.** @rune [**posted**](https://forum.makerdao.com/t/endgame-plan-next-steps-2023-milestones-for-metadao-launch/18770) an outline of the steps Maker will need to take in 2023 to prepare for the official on-chain launch of MetaDAOs as part of the Endgame Plan.

**2.** The Risk Core Unit is [**recommending**](https://forum.makerdao.com/t/discussion-adjusting-dust-parameter-november-2022/18767) a reduction in the minimum permitted Vault debt, or `dust`, intending to increase user acquisition and accessibility.

**3.** A post from the MakerDAO Open Market Committee [**explores**](https://forum.makerdao.com/t/discussion-on-enabling-the-dsr/18759) increasing the DAI Savings Rate to distribute extra revenue to DAI holders and incentivize stablecoin loan suppliers to migrate to DAI.

https://youtu.be/J79ScDXgvlc

---
## :newspaper_roll:  Announcements & Updates

> **StarkNet changes for 2022-10-26 Executive Spell** [[**1,**](https://forum.makerdao.com/t/starknet-changes-for-executive-spell-on-the-week-of-2022-11-29/18818)[ **2**](https://forum.makerdao.com/t/starknet-changes-for-2022-10-26-executive-spell/18468)]

The executive spell, which took place on October 26, updated the StarkNet bridge in light of changes to StarkNet's fee structure.

To avoid the possibility of infinite transactions, fees are now charged by the Starknet sequencer for any L2 transactions and L1 → L2 messages. To accommodate this feature, the L1DaiBridge.deposit and L1DaiBridge.forceWithdrawal functions of Maker's StarkNet bridge were modified.

> [**Candidates for Dai Foundation Board Member Election Poll**](https://forum.makerdao.com/t/candidates-for-dai-foundation-board-member-election-poll/18812)

This post announces two candidates, @Daimon-Law and @0xbocaJ, seeking election to the Dai Foundation Board in accordance with the Foundation's commitment to including members appointed by MakerDAO.

Paul Imseih—known as @Daimon-Law on the forum—is an Australian and UK lawyer with over 25 years of experience working mainly in the technology and intellectual property sectors. His candidate statement is available [**here**](https://forum.makerdao.com/t/candidates-for-dai-foundation-board-member-election-poll/18812#bookmark=id.at2ni445frz4).

Jacob Minne—@0xbocaJ on the forum—has worked in blockchain since 2012. His legal career has focused on IP counseling and litigation. Jacob's candidate statement is available [**here**](https://forum.makerdao.com/t/candidates-for-dai-foundation-board-member-election-poll/18812#bookmark=id.8o3q8rcxbsom).

> [**Agreement between MakerGrowth and GnosisDAO**](https://forum.makerdao.com/t/agreement-between-makergrowth-and-gnosisdao-proposal-for-gno-a-vault-in-mcd/18806)

This document posted by the Growth Core Unit is an initial proposal for review regarding adding Gnosis' GNO token as a collateral type.

*Scope*

-   Introduction of GNO-A vault in MCD
-   GnosisDAO continuation of borrowing activity with highly liquid decentralized assets (e.g., stEth) in MCD
-   Further development in a second phase through joint collaboration efforts of the DAI ecosystem, liquidity, and userbase in GnosisDAO-controlled projects, including but not limited to Gnosis Chain (GC)

*Vault Parameters*

-   DC-IAM Line (max DC): 5M
-   Liquidation ratio: 350%
-   Stability fee: 2.5%

In accordance with the agreement, Gnosis must remain an active MCD Vault user, maintain no less than 75% of GnosisDAO stablecoin borrowing activities with highly liquid assets, and utilize the GNO-A debt ceiling as soon as possible.

---
## :speech_balloon: Active Discussions & Proposals

> [**Endgame Plan next steps: 2023 milestones for MetaDAO Launch**](https://forum.makerdao.com/t/endgame-plan-next-steps-2023-milestones-for-metadao-launch/18770)

This post from @rune outlines some Pregame phase Endgame Plan milestones we hope to see in 2023. These building blocks must be in place to launch the on-chain components of MetaDAOs. The list of Pregame products includes:

-   EtherDai token wrapper deployment
-   Elixir Balancer pool deployment
-   MetaDAO ERC20 token deployments (one for each MetaDAO)
-   Meta Elixir Uniswap v2 pool deployments (one for each MetaDAO)
-   Anti-Reflexivity Mechanic deployments (one for each MetaDAO)
    -   Linear token sales mechanism to prevent price spikes
-   Dai Farms (one for each MetaDAO)
-   EtherDai Farms (one for each MetaDAO)
-   MKR Farms (one for each MetaDAO)
-   Metanomics I deployment
    -   70,000 MKR emitted per year, with 60,000 funneled directly to the Meta Elixir of each of the MetaDAOs
-   Various dss-kiln and proxy contract deployments to manage accounts and token flows for MetaDAOs

We'll also need a minimum viable product of MetaDAO frontends, which will require these features:

-   Access to all Dai Farms
-   Access to opening Maker Vaults (including EtherDai Vaults)
-   Access to all EtherDai Vault Farms
-   Access to all MKR Farms
-   MVP of the Easy Voter Frontend that is required for users who wish to farm with MKR, as they need to first delegate through this frontend to be able to farm with MKR
-   Support for MetaDAOs adding their products or external services.

Further products needed to move beyond the Pregame phase include setting in place the MetaDAO cluster journey—from Cluster announcements (several of which have already been made) to normal operation—as well as an Endgame Constitution and Scope Frameworks.

> [**Adjusting Dust Parameter (November 2022)**](https://forum.makerdao.com/t/discussion-adjusting-dust-parameter-november-2022/18767)

With Ethereum gas prices having dropped significantly, this post from the Risk Core Unit's @monet-supply makes a case for lowering the minimum permitted debt—or `dust`—for Vaults. This could enable more accessibility and increase user acquisition. Any potential losses from bad debt are likely to be offset by user acquisition gains, as evidenced by Compound and Aave, neither of which has a minimum `dust` limit.

The proposed changes come in two options:

**Option 1**

This option includes a broad reduction of `dust` limits across Vault types.

-   Reduce `dust` for ETH-A, WBTC-A, and WSTETH-A to 5,000 DAI
-   Reduce `dust` for ETH-C, WBTC-C, and WSTETH-B to 2,500 DAI
-   Reduce `dust` for ETH-B and WBTC-B to 15,000 DAI
-   Reduce `dust` for CRVV1ETHSTETH-A, LINK-A, YFI-A, MATIC-A, MANA-A, and RENBTC-A to 10,000 DAI
-   Leave `dust` unchanged for UNIV2USDCETH-A, UNIV2DAIUSDC-A, GUNIV3DAIUSDC1-A, and GUNIV3DAIUSDC2-A

**Option 2**

This option includes more limited `dust` reductions, targeting large-cap Vault types with the highest potential utility for small users while limiting the risk of liquidation losses.

-   Reduce `dust` for ETH-A, WBTC-A, and WSTETH-A to 7,500 DAI
-   Reduce `dust` for ETH-C, WBTC-C, and WSTETH-B to 3,500 DAI
-   Reduce `dust` for ETH-B and WBTC-B to 25,000 DAI
-   Leave `dust` unchanged for CRVV1ETHSTETH-A, LINK-A, YFI-A, MATIC-A, MANA-A, RENBTC-A, UNIV2USDCETH-A, UNIV2DAIUSDC-A, GUNIV3DAIUSDC1-A, and GUNIV3DAIUSDC2-A

> [**Enabling the DSR**](https://forum.makerdao.com/t/discussion-on-enabling-the-dsr/18759)

This post from the [**MakerDAO Open Market Committee**](https://forum.makerdao.com/t/parameter-proposal-group-makerdao-open-market-committee/7355) (MOMC) points out that yield spreads between DeFi and TradFi are growing and that this trend is not likely to abate any time soon. The post explores increasing the [**DAI Savings Rate**](https://manual.makerdao.com/parameter-index/core/param-dai-savings-rate) (DSR) to distribute some of the extra revenue that Maker is likely to see in the near future to existing DAI holders who are currently not earning any yield.

Increasing the DSR would significantly boost yields in protocols like Aave and Compound, which have integrations with the DSR, incentivizing USDC suppliers to migrate to DAI instead. If this happens successfully, we can expect an accompanying increase in Net Protocol Income.

![](https://i.imgur.com/Ztj0wTa.png)

> [**Calculating the value of RWAs and the surplus buffer**](https://forum.makerdao.com/t/calculating-the-value-of-rwas-and-the-surplus-buffer/18803)

In this post, Recognized Delegate CodeKnight points out the importance of having a defined way of calculating the specific value of the Surplus Buffer is calculated in light of [**MIP84: Activate Protocol-Owned Vault Emulation**](https://forum.makerdao.com/t/mip84-activate-protocol-owned-vault-emulation/17713). This calculation will be critical when it comes to working with bonds.

@tadeo stepped in to inform us that the Data Insights Core Unit is working on a model to reflect actual revenue, including RWAs accurately.

> [**New Silver Requesting Debt Ceiling Increase**](https://forum.makerdao.com/t/new-silver-requesting-debt-ceiling-increase/18752)

New Silver is requesting a series of changes to its RWA agreement with MakerDAO:

-   Adding in WSFS as the trustee, based on the [**Trust Indenture**](https://forum.makerdao.com/t/centrifuge-update-cornerstone-agreement-complete-to-onboard-rwas-to-maker-with-centrifuge-successful-collaboration-with-incubating-lts/15005) put together earlier this year by Christian Petersen and Eli Cohen
-   Increase Vault debt ceiling to 50mm DAI
-   Remove senior co-investor requirement and over-collateralization requirement
-   Increase Junior minimum to 20% from 15%
-   Increase stability fee to 4.5% from 3.5%

---
<!--- ## :bar_chart: Research & Reports 

nothing this week

--- -->
## :building_construction: Ongoing Initiatives

<small>‘Oh my god, this is taking ages; why can’t things be simple?’</small>

[Maker Operational Manual](https://manual.makerdao.com/) - GovAlpha Core Unit releases the launch of the Maker Operational Manual and invites all members and Core Units to reach out if they wish to provide any help or documentation to add to the Manual.

[Off-Chain Proposal Bounties](https://manual.makerdao.com/governance/offchain-incentives/proposal-bounties) - MakerDAO rewards classes of governance action that result in measurable changes to the way the Maker Protocol or MakerDAO operates.
This link provided describes how this incentivization mechanism operates.

[Recognized Delegate Requirements](https://forum.makerdao.com/t/recognised-delegate-requirements/9421) - LongForWisdom writes a detailed overview of the current requirements and application system to become a delegate in the Maker community. Check out this [thread](https://forum.makerdao.com/search?expanded=true&q=%40LongForWisdom%20%23governance%3Adelegates) for more posts related to delegation.

[Where to Find Opportunities at MakerDAO](https://forum.makerdao.com/t/where-to-find-opportunities-at-makerdao/10076) and [Open positions at MakerDAO](https://forum.makerdao.com/t/open-positions-at-makerdao/12197) - Looking for job opportunities at MakerDAO? Perfect! Davidutro and manomad set up individual threads containing resources to help find available job listings and hiring practices. *Please comment on the thread if anybody has additional information on unique hiring practices or job listings.*

[Collateral Status Index](https://docs.google.com/spreadsheets/d/1PDf_CzhGa7mLuOUfX6Bz3WrnCjDRhIjmu-vDZMMw4Qc/edit#gid=1077340672) - Confused about the current status of the various collateral types discussed recently? Check out this sheet to determine the status and current position within the onboarding process.

[Weekly MIPs Updates](https://forum.makerdao.com/tag/mips-update) - GovAlpha brings the latest updates in MIPs.

[The Official Welcome Thread](https://forum.makerdao.com/t/the-official-welcome-thread/771/4) - A thread for welcomes and introductions. Not strictly governance, but if anyone new or old wants to introduce themselves, now is your chance!

## 🆘 Help Wanted

<small>‘Oh %#\$?, we need a doodad, and we need it now.’</small>

We could always use help reviewing [MIPs in the Request for Comment phase](https://forum.makerdao.com/tag/rfc).

---

### Disclaimer

<small>*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.*</small>

![](https://i.imgur.com/RjtyDwQ.png)
