---
tags: Monthly Core Unit Updates
---

# Monthly Core Unit Updates: March 2022 (pt 3)

###  [Growth](https://forum.makerdao.com/c/core-units/growth)

<details><summary>Growth CU Nov-Dec-Jan review and weekly updates: March 11</summary><br>

[Link](https://forum.makerdao.com/t/growth-cu-nov-dec-jan-review-and-weekly-updates-march-11/13907)

General Updates
===============

[](https://forum.makerdao.com/t/growth-cu-nov-dec-jan-review-and-weekly-updates-march-11/13907#q3-overview-nov-dec-jan-2)Q3 Overview (Nov, Dec, Jan).
-----------------------------------------------------------------------------------------------------------------------------------------------------

The general outline of our traditional cycle consists of the following phases: Outreach → Initial conversations → Project formalization and commitment → Activation support (technical or marketing support) → Pre-launch growth → The partner Launch (close deals) → Maintenance and growth.

In Q1 (May-June-July) we closed 33 integrations, in Q2 (August-September-October) we closed 41 integrations and in Q3 we closed 28, but increased the number of T1 integrations, continuing with our strategy of focusing on strategic partnerships for Maker.

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This is the picture of the opportunities in the latest stages of the Growth Process cycle, before closing the integration (Project Formalization, Activation support, and pre-launch).

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As shown before, we continue with the same distribution of deals in the different stages as in the previous quarters.

### [](https://forum.makerdao.com/t/growth-cu-nov-dec-jan-review-and-weekly-updates-march-11/13907#b2b-activations-3)B2B Activations.

Check what we did with our partners last quarter: [B2B Activations report Q3 3](https://drive.google.com/file/d/1UQyhHuGD2nnTLa06FlQnO8kYPjv1ssnk/view?usp=sharing)

### [](https://forum.makerdao.com/t/growth-cu-nov-dec-jan-review-and-weekly-updates-march-11/13907#quarters-synch-4)Quarters synch.

During our offsite, we decided to coincide Growth quarters with the calendar quarters to simplify communication. That means, in April we will initiate Q2-22.

[](https://forum.makerdao.com/t/growth-cu-nov-dec-jan-review-and-weekly-updates-march-11/13907#next-events-5)Next Events.
-------------------------------------------------------------------------------------------------------------------------

- EthRio (March 11th):\
[@Lozadaluis12](https://forum.makerdao.com/u/lozadaluis12) Panel: Stablecoins and settlement\
15/Mar → 10:00\
[@Corina](https://forum.makerdao.com/u/corina) presentation: DAO Governance, MakerDAO lessons\
15 Mar → 14:35\
Corina's Panel: DAO & Governance experiences with Harmony, 1inch & Julien Boutelup\
15/Mar → 15:05
- Cambridge Blockchain Society (March 12): Rajiv is attending the event
- Circle/USDC - Building the Crypto Economy - London (March 17)Rajiv is attending the event
- EthDubai (March 29th): we are planning a side event with Polygon

[](https://forum.makerdao.com/t/growth-cu-nov-dec-jan-review-and-weekly-updates-march-11/13907#star2-star-of-the-week-star2-6) Star of the week. 
=========================================================================================================================================================================================================================================================================================================================

[Bitmar 1](https://twitter.com/MakerGrowth/status/1499387113783103489) listed DAI. They are an exchange with ​​over 1 million daily active users.

[](https://forum.makerdao.com/t/growth-cu-nov-dec-jan-review-and-weekly-updates-march-11/13907#makerdao-twitter-account-7)MakerDAO twitter Account.
===================================================================================================================================================

Twitter followers: 201.2k (+0.95% WoW)
Number of tweets: 23 (+228% WoW)
Twitter engagement rate: 0.62% (-43% WoW)

- During this week we worked on defining a Tweets calendar and a process for CUs to add their tweets to the calendar. We hire a media agency to support us whenever we need more than written content in our threads to improve the content assets.

- We strongly increased the number of tweets and the number of impressions (+500% on a 28-day basis).

- The drop in the engagement rate shows us the engagement (actions that people do in our tweets: likes, comments, retweets), is not increasing at the same rate as impressions.

- We will tweet more content that helps us initiate conversations with our audience, replicating the interaction we got with this [tweet](https://twitter.com/MakerDAO/status/1500121216757215245?s=20&t=K-VYt94l3Wz_k1yKvfAa1w), as it gave us good results in engagement.

- If you want to include your announcements in the MakerDAO twitter, please read this [post 2](https://forum.makerdao.com/t/content-for-the-makerdao-twitter-account/13819).

[](https://forum.makerdao.com/t/growth-cu-nov-dec-jan-review-and-weekly-updates-march-11/13907#makergrowth-tweet-of-the-week-8)MakerGrowth Tweet of the week
============================================================================================================================================================

[twitter.com](https://twitter.com/MakerGrowth/status/1499398994392334345)


#### [MakerDAO Growth](https://twitter.com/MakerGrowth/status/1499398994392334345)

[@MakerGrowth](https://twitter.com/MakerGrowth/status/1499398994392334345)

💰 Now you can pay for your insurance with Dai, covering all positions within your wallet, through[@SolaceFi](https://twitter.com/SolaceFi). How does it work? 👇 1/12 <https://t.co/scw6PxnCkS>


</details><br>
<details><summary>Growth CU weekly updates: March 25, and an intro to MakerBrand ;)</summary><br>

[Link](https://forum.makerdao.com/t/growth-cu-weekly-updates-march-25-and-an-intro-to-makerbrand/14233)

General Updates
===============

[](https://forum.makerdao.com/t/growth-cu-weekly-updates-march-25-and-an-intro-to-makerbrand/14233#makerbrand-2)MakerBrand
--------------------------------------------------------------------------------------------------------------------------

Since GrowthCU's inception, we identified the need to create campaigns with our partners to announce and create use cases around their integrations with the Maker Protocol. This has given us a tool to communicate with their audience to show them Maker's power, and all these actions are under what we call "B2B Activations". After months without the commonly called Marketing CU, we have seen new people/institutions interested in crypto and DeFi, and because it's their first time in the space, they don't know about Maker: for some of them, Maker is about stablecoins but is not a lending protocol, or worse, they don't link Maker with Dai.

This challenge made us realize we have to do something, and as we have been doing the B2B Activations, it's more than natural for us to scale towards creating a "MarketingCU". But, with the mindset of maintaining the DAO ethos, we decided to help evolve our internal B2B Activations team to convert it into MakerBrand, first as a team inside GrowthCU but with the vision of being an independent CU.

MakerBrand will work on Maker's brand through initiatives to create ideas around what people think, feel, and say about Maker. We will post more details in the following weeks.

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](https://makerdao-forum-backup.s3.dualstack.us-east-1.amazonaws.com/original/3X/e/6/e6c613ce4ee69553b0fa5d8b8265c0851b5fd97e.jpeg "WhatsApp Image 2022-03-26 at 3.24.15 PM")

[](https://forum.makerdao.com/t/growth-cu-weekly-updates-march-25-and-an-intro-to-makerbrand/14233#dai-liquidity-3)Dai Liquidity.
---------------------------------------------------------------------------------------------------------------------------------

After several internal conversations with [@louismerkle](https://forum.makerdao.com/u/louismerkle) and PECU and talking with various of the most relevant MM in the ecosystem, we have identified the following solutions to increase Dai Liquidity in specific domains:

Before the launch of Maker Vaults on L2

- We have to integrate with intermediary protocols to give loans to MM by creating a D3M DAI pool within these protocols. These protocols will help us structure these loans without lending the DAI from the surplus buffer.

After the launch

- We will onboard the GUNI token to increase liquidity through it.

[](https://forum.makerdao.com/t/growth-cu-weekly-updates-march-25-and-an-intro-to-makerbrand/14233#ethrio-4)EthRio.
-------------------------------------------------------------------------------------------------------------------

[@Lozadaluis12](https://forum.makerdao.com/u/lozadaluis12) and [@Corina](https://forum.makerdao.com/u/corina) talked about Maker:

- Luis participated in the panel:[ Stablecoins and settlement](https://www.youtube.com/watch?v=Zjt_1Qd5HPw), talking about the real uses cases for stablecoins in LATAM, mostly in Argentina and Vzla.
- Cori gave a presentation:[ Growing as a DAO - MakerDAO Lessons Learned. 4](https://www.youtube.com/watch?v=RCLUbdiEz3w) With the full house Cori explained the dissolution of the Foundation and how is the DAO being self-sustainable since past year.
- Few minutes later Cori participated in the panel: **[DAOs & Governance experiences**. 3](https://youtu.be/3dHNUPteia0)
- Luis gave an[ interview 1](https://br.beincrypto.com/eth-rio-brasil-esta-preparado-para-negociar-stablecoin-com-cbdc-diz-ceo-da-transfero/) to Beincrypto brazil, where he explained the situation in Vzla and how stablecoins like DAI helps the people to fight against inflation.

And we organized a [side-Event with Lemon](https://twitter.com/EthereumRio/status/1504261716640681984), one of the top crypto companies in Argentina, expanding to all Latam.

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](https://makerdao-forum-backup.s3.dualstack.us-east-1.amazonaws.com/original/3X/f/7/f7473eca8d9db6a3590fd20b71181e029ca0847a.jpeg "image")

[](https://forum.makerdao.com/t/growth-cu-weekly-updates-march-25-and-an-intro-to-makerbrand/14233#star2-star-of-the-week-star2-5) Star of the week. 
=============================================================================================================================================================================================================================================================================================================================

[Pokket 1](https://twitter.com/POKKETOfficial/status/1505799374739484674): Crypto savings account integrated DAI (BEP20 and ERC20). On both Avalanche and Fantom. TVL: 167mill.

[](https://forum.makerdao.com/t/growth-cu-weekly-updates-march-25-and-an-intro-to-makerbrand/14233#makerdao-twitter-account-6)MakerDAO twitter Account.
=======================================================================================================================================================

Twitter followers (MakerDAO account): 203.9k (+0.74% WoW)
Number of tweets: 26 (+36.8% WoW)
Twitter engagement rate: 0.89% (-11.88% WoW)

- We posted the [coordination framework to include announcements](https://forum.makerdao.com/t/content-for-the-makerdao-twitter-account/13819) from any CU in the Maker Twitter Account, TLDR: choose your representative and if they are not in our internal twitter channel on discord, send a DM to Tobal
- More tweets than previous week due to a rise in the demand for communications: -[ DeFi Saver stETH LP launch](https://twitter.com/MakerDAO/status/1503733795161350149?s=20&t=AT7UeB34P9K4ZGFGnyzzfA) -[ Oasis stETH LP launch](https://twitter.com/MakerDAO/status/1504102461853863939?s=20&t=AT7UeB34P9K4ZGFGnyzzfA) -[ TUSD-A Offboarding](https://twitter.com/MakerDAO/status/1504085571848884225?s=20&t=AT7UeB34P9K4ZGFGnyzzfA)

[](https://forum.makerdao.com/t/growth-cu-weekly-updates-march-25-and-an-intro-to-makerbrand/14233#makergrowth-tweet-of-the-week-7)MakerGrowth Tweet of the week
================================================================================================================================================================

[twitter.com](https://twitter.com/MakerGrowth/status/1504487609480798208)


#### [MakerDAO Growth 1](https://twitter.com/MakerGrowth/status/1504487609480798208)

[@MakerGrowth](https://twitter.com/MakerGrowth/status/1504487609480798208)

💥[@CurveFinance](https://twitter.com/CurveFinance)'s stETH-ETH LP was just onboarded as collateral in[@MakerDAO](https://twitter.com/MakerDAO). 🤑 You can create a super leveraged and super secure strategy using[@MakerDAO](https://twitter.com/MakerDAO),[@LidoFinance](https://twitter.com/LidoFinance), and[@CurveFinance](https://twitter.com/CurveFinance) together, the real OG top 3 of all DeFi protocols. How does it work? 👇🧵 1/14 <https://t.co/PXSwqxnUKY>


</details></br>

###  [Immunefi Security](https://forum.makerdao.com/c/core-units/immunefi-core-unit)

<details><summary>Immunefi Security CU Update for March</summary><br>

[Link](https://forum.makerdao.com/t/immunefi-security-cu-update-for-march/14322)

Recent Progress
---------------

- During March, 25 bugs were submitted through the [bug bounty program](https://immunefi.com/bounty/makerdao/).  However, all of them were found invalid by Immunefi Services Triaging. 
- We have introduced a bug bounty amendment to [allow more flexibility in scope 3](https://forum.makerdao.com/t/mip4c3sp3-amend-mip64-to-allow-more-flexibility-in-scope/14200). 
- Our amendment to enable [Rapid Payment for Small Bug Bounties 4](https://vote.makerdao.com/polling/QmRdVByP#poll-detail) passed
- To facilitate different escalation protocols, smart contract and website vulnerabilities will be separated into two separate bug bounty programs.

### [](https://forum.makerdao.com/t/immunefi-security-cu-update-for-march/14322#tips-for-working-with-the-bug-bounty-program-2)Tips for working with the bug bounty program

- Always use the [Immunefi Dashboard 1](https://bugs.immunefi.com/) for communications.
- Respond within 48 hours for `Critical` and `High` severity bug reports. A simple confirmation that someone is looking at the report will suffice. 
- Try to close `medium/low` severity in 7 days and `high/critical` severity in 14 days.
- If you know that you will need more time, ask for it. Hackers are generally understanding, but appreciate advanced notice.
- Don't try to negotiate severity or bounty amount with the hacker. Coordinate with ISCU. 
- If anything needs to be changed with the bug bounty program, let us know. Provide feedback. We're here to make the process work. 

[](https://forum.makerdao.com/t/immunefi-security-cu-update-for-march/14322#ongoing-3)Ongoing
---------------------------------------------------------------------------------------------

- Operational security audits of Protocol Engineering and TechOps 
- DeFi Safety delivered a draft report on critical infrastructure. We will be sharing this soon.
- Office hours Mon 11pm UTC alternating with Wed at 3pm UTC. We will add more time zone coverage soon. 
- Security Stakeholder Alignment calls every Wednesday, started  January 26, 2022 10:30 AM 
- [Budget transparency reporting 3](https://github.com/makerdao-is/transparency-reporting/) 
- [Link](https://forum.makerdao.com/t/immunefi-security-cu-update-for-february/13488) to the previous month's progress report 

[](https://forum.makerdao.com/t/immunefi-security-cu-update-for-march/14322#anticipated-soon-4)Anticipated soon
---------------------------------------------------------------------------------------------------------------

- Expect the first [fire drill 1](https://forum.makerdao.com/t/fire-drill-request-for-discussion-informal-polls/13799) sometime, someday in April. 
- In collaboration with GovComms, an Emergency PlayBook

[](https://forum.makerdao.com/t/immunefi-security-cu-update-for-march/14322#delayed-5)Delayed
---------------------------------------------------------------------------------------------

- Educational content 
- Backups for critical monitoring infrastructure 

</details></br>

###  [Protocol Engineering](https://forum.makerdao.com/c/core-units/protocol-engineering)

<details><summary>PECU 2021 - 2022 Financial Year in Review</summary><br>

[Link](https://forum.makerdao.com/t/pecu-2021-2022-financial-year-in-review/13793)

PECU 2021 - 2022 Financial Year in Review
In order to request budget renewal for 2022 - 2023, Protocol Engineering has undertaken a review of the prior year’s budget allocation. The purpose of this is to determine the accuracy of our initial request and therefore to better help define our proposed allocation going forward. We welcome comments and questions on any of the below.

Protocol Engineering Accomplishments
The past year has witnessed an amazing evolution from a centralized Foundation to a truly decentralized DAO. Along this journey, Protocol Engineering has grown upon it’s prior successes by maintaining and extending the protocol in a safe and secure manner. This has included extensive research and development across L2 ecosystems, developments in formal verification, and the weekly core protocol operations that have introduced new modules and kept the protocol optimally tuned.

These accomplishments have been transparently communicated on a monthly basis and are all present on the forum and so will not be elaborated upon here. Instead, this post will break down the costs and expenses to summarize our expenditure throughout the past year.

2021 - 2022 Expenditure Summary
Taking into account actuals from May 2021 to February 2022, and forecasts for March and April 2022, Protocol Engineering’s annual budget of $6.1M was a sensible and fairly accurate bottom line estimation in the early days of the DAO.

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Auditor expenses, gas costs and 3rd party contractors for tooling & QA came in over budget mostly due to extending our retainers to ensure continued support. On the other hand we didn’t grow the team as much as initially intended, which brought us in under budget for personnel related expenditures. Overall, the core unit is expected to come in approximately $130k under budget. Further explanation as to each line item shall be given below.

Monthly Cost Breakdown
The following image shows expense distribution over the year. Apart from the team’s initial ramping up and a rather large auditor retainer payment in January, we hovered around the intended 510k p/month DAI allocation.

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Description of Each Budget Category
To provide clarity for where funds have been spent, the following illustrates further detail for each budget category;

Employee Salaries & Healthcare
Protocol Engineering grew from an initial team of 9 fulltime team members to its current total of 14 individuals. Further team growth to a headcount of 16 was initially considered, yet was delayed as we focused on the evolution of the L2 landscape, our team culture, development processes and the interactions of different engineering teams in Maker. Our upcoming proposal will provide more detail around scaling to meet the DAO’s needs. The following diagram helps to illustrate where people resources were spent (does not include consideration for tooling etc).

Area of Focus
Area of Focus
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A quick note on Healthcare - we maintained a two-tier system; those in the US, and those not in the US to accomodate for respective healthcare costs.

Events & Travel
While initially hesitant to travel due to Covid19, the team quickly reaped the benefits of sharing travel opportunities by meeting face to face with a variety of external teams. This engagement with others in the DeFi space directly contributed to launching the Optimism and Arbitrum DAI bridges, our GUNI integration and 3rd party Keeper integrations. Coverage included EthParis, Lisbon, EthDenver, Harvard Blockchain Week and EthAmsterdam. Despite having helped fund MakerDAO events in Lisbon and Denver, we ended the year under budget because there was limited travel during the first half of the year.

Contract Deployment/Gas
The previous year saw gas prices spike and remain high for long periods of time. This meant that our ETH purchases for contract deployments were $90k greater than expected. Typically we attempt to mitigate this by purchasing ETH when the price is low, and always retain at least 10-20 ETH on hand in the event we need to deploy contracts during a congestion event. At the time of writing we hold 15 ETH in the team multisig for the deployer addresses.

3rd party Contractors / SC Verification & QA
The team worked with a variety of 3rd party tooling providers to ensure that smart contracts operate within the bounds of formal correctness and adhere to defined security rules. 3rd parties have included; Certora, Runtime Verification, Blockscience and Tenderly. This budget category was our largest under-budgeted cost driver due to our agreement to extend formal verification initiatives. There are active initiatives underway to opensource the work being completed and to reduce the ongoing cost.

Auditor costs
MakerDAO Smart Contracts have been audited by either ChainSecurity and/or ABDK. Due to the increased difficulty in securing auditor bandwidth, Protocol Engineering has secured a retainer with ChainSecurity to ensure we and others within the Maker community have ongoing access to auditors. As the market demand for auditors has increased so has the cost, which is reflected in the above.

Hardware expenses
The team runs a variety of archive and full nodes to assist in contract testing and deployment. Hardware costs were marginally lower than budgeted due to not filling the additional 2 headcount, as well as difficulty in acquiring hardware specs in certain parts of the world.

Contingency Buffer & The Emergency Fund
In the original proposal, a contingency buffer of $297k was included to provide cover for unplanned costs. We deemed this to be a risky amount to hold in the monthly multisig and so moved $200k to the Emergency multisig in July 2021 as we were still ramping up the team. This buffer was helpful to have on-hand in the event we needed to cover short-term cashflows (software 3rd parties/contractors). As will be discussed in our upcoming budget proposal, all outstanding budget funds from the monthly multisig will be returned to the protocol at the end of April 2022.

Legal/Accounting & General Operating Expenses
Legal advice and consultancy, entity registration fees and financial reporting. This came in just under budget as we did not pursue additional accounting services to manage team payments as these were kept in-house.

Referral & Sign-on Bonus
Only one referral bonus was paid during this period as all other hires were sourced through direct contact and discussion.

Bug Bounty
No smart contract bugs were claimed as part of any bug bounty program, so the $100k added to our end of year surplus. This line item will be discontinued in the new financial year as responsibility now lies with the Immunefi Core Unit.

Conclusion
Despite having both under and over budgeted a number of individual items, overall Protocol Engineering ended the year on budget. The team has learnt a lot with regards to operating efficiently in a new DAO environment which has given us insight into how we can better structure and budget for the upcoming financial year that we look forward to sharing in our future budget proposal request. As always, there is a lot that can be elaborated on here, if you have questions please either DM me or ask openly in the forum, thank you.

</details></br>

<details><summary>PECU Month in Review: March 2022</summary><br>

[Link](https://forum.makerdao.com/t/pecu-month-in-review-march-2022/14493)

PECU Month in Review: March 2022
================================

### [](https://forum.makerdao.com/t/pecu-month-in-review-march-2022/14493#executive-votes-2)Executive Votes:

- [March 4](https://vote.makerdao.com/executive/template-executive-vote-core-unit-budget-distributions-recognized-delegate-compensation-momc-parameter-changes-march-4-2022) - Core Unit Budget Distributions, Recognized Delegate Compensation, MOMC Parameter Changes
- [March 9](https://vote.makerdao.com/executive/template-executive-vote-mitigate-post-shutdown-flash-loan-vulnerability-march-9-2022) - Mitigate Post-Shutdown Flash Loan Vulnerability
- [March 11](https://vote.makerdao.com/executive/template-executive-vote-curve-steth-eth-onboarding-rate-limited-flapper-immunefi-bug-bounty-payouts-march-11-2022) - Curve stETH-ETH Onboarding, Rate Limited Flapper, Immunefi Bug Bounty Payouts
- [March 25](https://vote.makerdao.com/executive/template-executive-vote-authorizing-the-esm-on-dssflash-and-adding-support-for-tusd-implementation-march-25-2022) - Authorizing the ESM on DssFlash and Adding Support for TUSD Implementation

### [](https://forum.makerdao.com/t/pecu-month-in-review-march-2022/14493#smart-contract-development-3)Smart Contract Development

- [Auction Demo Keeper](https://github.com/makerdao/auction-demo-keeper) deployment to support TUSD Offboarding
- Identified that TUSD implementation was [changed](https://etherscan.io/tx/0x125823f2914e4f14e06b9b1b30fe9dd9512b36354cc1f6c063118c4fe03d8287) and subsequently [informed](https://forum.makerdao.com/t/tusd-disabled-due-to-unannounced-token-upgrade/2747) the community
- Redeployed the [OmegaPoker](https://github.com/makerdao/megapoker/blob/master/src/OmegaPoker.sol#L69) to support curve LP tokens and updated new megapoker [tests](https://github.com/makerdao/megapoker/tree/CRVV1ETHSTETH)
- Deployed Clipper callee for [curve LP token](https://etherscan.io/address/0x71f2198849f3b1372ea90c079bd634928583f2d2) integration with UniSwapV3
- PE Team completed a code walk-through and review of the [Deco protocol 1](https://github.com/deco-protocol/dss-gate), which was subsequently handed over to auditors for review
- Development of the Flash Killer [Keeper](https://github.com/makerdao/flash-killer-keeper) to check if the kill() function is available and if so, ensure that flash mints are disabled if emergency shutdown is triggered
- Prototyped [DssKiln 1](https://github.com/brianmcmichael/dss-kiln/blob/master/src/DssKiln.sol) with a [description](https://forum.makerdao.com/t/signal-request-bring-back-the-mkr-burn-part-ii/13146/30) allowing the burning of DAI over time against a defined AMM contract
- Began architectural discussions to ensure that [DssGate](https://github.com/makerdao/dss-gate) would be extensible to other DAO-wide initiatives as this was inherited and specific to Deco

### [](https://forum.makerdao.com/t/pecu-month-in-review-march-2022/14493#forum-posts-4)Forum Posts

- [Protocol Engineering Core Unit Workstreams](https://forum.makerdao.com/t/protocol-engineering-core-unit-workstreams/13795) proposal and structure
- Protocol Engineering Core Unit [Budget Proposal](https://forum.makerdao.com/t/mip40c3-sp68-modify-protocol-engineering-core-unit-budget-pe-001/13797)
- MIP69: L2 to L1 [Fast Withdrawals Proposal](https://forum.makerdao.com/t/mip69-l2-to-l1-fast-withdrawals/14041)
- [Request to Poll](https://forum.makerdao.com/t/request-to-poll-for-maker-wormhole-deployment-and-associated-risk-parameters/14209) for Maker Wormhole Deployment and Associated Risk Parameters
- StarkNet Dai Technical Bridge [Risk Assessment](https://forum.makerdao.com/t/starknet-dai-bridge-and-starknet-platform-technical-risk-assessment/13950)
- Notification of [FlashThaw issue](https://forum.makerdao.com/t/post-shutdown-flash-loan-vulnerability-announcement-and-remediation-plan/13746) and remedy
- Flash Loan Debt Manipulation During Emergency Shutdown [vulnerability explanation](https://forum.makerdao.com/t/flash-loan-debt-manipulation-during-emergency-shutdown-vulnerability-postmortem/14036)
- Out of plan [Executive](https://forum.makerdao.com/t/proposed-security-fix-to-be-added-in-the-march-25th-2022-executive-spell/14197) added to prevent malicious activation of the DssFlash module after being disabled by the FlashKiller contract
- Ongoing work to deprecate the old [Changelog](https://forum.makerdao.com/t/chainlog-improving-how-we-keep-track-of-our-deployed-contracts/11834/11)

### [](https://forum.makerdao.com/t/pecu-month-in-review-march-2022/14493#events-5)Events

- Protocol Engineering joined SF, SES and SH CUs at Harvard Blockchain Week. We have sourced a number of graduates and are reviewing candidates.

### [](https://forum.makerdao.com/t/pecu-month-in-review-march-2022/14493#the-month-ahead-6)The Month Ahead

- Protocol Engineering is in the final stages of being ready to deploy Fast Withdrawals on Optimism and Arbitrum. Outstanding work is limited to receiving final audit responses on critical modules, finalising formal verification specs, and putting in place the required bridge monitoring and alerting.
- Similarly, we are approaching completion on the Compound D3M, which will put in place a modular architecture facilitating reuse and scalability. In the same spirit of scalability, DssGate will enable MakerDAO to support debt ceiling limited initiatives such as the Deco Protocol and other "sand-box-like" initiatives.
- Protocol Engineering is also actively following current RWA discussions and is at the ready to help CES with any onboarding oversight required. We do not however expect that these discussions, if ratified, will impact or alter long-tail work such as Institutional Vaults, D3Ms or ongoing MCD on L2 development, as these initiatives entail different non-competing resources - I am happy to elaborate on this further if requested.

</details></br>

###  [Real World Finance](https://forum.makerdao.com/c/core-units/real-world-finance)

<details><summary>SES Incubation Announcement: Legal and Transaction Services Core Unit (LTS)</summary><br>

[Link](https://forum.makerdao.com/t/ses-incubation-announcement-legal-and-transaction-services-core-unit-lts/14192)

Introducing the Legal and Transaction Services Core Unit
--------------------------------------------------------

The Maker community wants to scale the onboarding of real-world assets into Maker vaults to launch the protocol towards its higher potential. MakerDAO requires independent, high-quality, innovative, and results-oriented legal and transaction management skills to achieve that objective at any speed.

During March 18th's [SES Weekly Status Update Call 1](https://youtu.be/xcnMPrNy9BI), Christian Petersen [@christiancdpetersen](https://forum.makerdao.com/u/christiancdpetersen) introduced a solution for this skills gap: the Legal & Transaction Services Core Unit (LTS-001).

[](https://forum.makerdao.com/t/ses-incubation-announcement-legal-and-transaction-services-core-unit-lts/14192#mission-2)Mission
--------------------------------------------------------------------------------------------------------------------------------

This Core Unit aims to establish and maintain an independent network of legal professionals to support MakerDAO's Core Units engaged in real-world financing transactions or investments. Core Units engaging in work with RWAs and structured finance will share everyday complexities involving agreements with counterparties, structured finance terms, project finance terms, physical assets, diverse jurisdictions, and regulations (to name a few).

[](https://forum.makerdao.com/t/ses-incubation-announcement-legal-and-transaction-services-core-unit-lts/14192#service-focused-3)Service Focused
------------------------------------------------------------------------------------------------------------------------------------------------

Don't lawyers just block work from getting done? No, experienced and high-quality transaction lawyers facilitate the deal getting done. These skills are a fundamental prerequisite for the on-boarding of real-world assets for any asset type, from any jurisdiction, and through any strategic model.

In real-world financings, transaction lawyers:

- Identify and find solutions with commercial, risk, and technical teams to mitigate various commercial, legal, technical and other risks.
- Drive and manage deals towards closure.
- Communicate with relevant stakeholders.
- Manage and supervise external counsel.
- Generally, support the financing process.

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LTS Lawyers will have similar roles for support opportunities that come to the DAO:

- Undertake transaction due diligence involving the legal structure of entities, counterparties, and fiat/Dai flows.
- Legal research of applicable law requirements and obtain local counsel advice as needed.
- Negotiate commercial and legal positions, implementing the DAO's legal risk appetite.
- Review borrower-provided lending documents, supporting the process through closing and disbursement.
- Coordinate cross Core Unit initiatives to solve multidisciplinary challenges.
- Perform transaction management by preparing and negotiating the term sheet, financing agreements, and ultimately coordinating transaction scheduling.
- Perform post-closing transaction management, providing administration of events during the deal's life.
- Provide transparent and open communications with all stakeholders and the MakerDAO community.

[](https://forum.makerdao.com/t/ses-incubation-announcement-legal-and-transaction-services-core-unit-lts/14192#facilitator-focus-4)Facilitator Focus
----------------------------------------------------------------------------------------------------------------------------------------------------

Driving the initiative to bring legal and transaction management skills to the DAO is proposed facilitator Christian Petersen [@christiancdpetersen](https://forum.makerdao.com/u/christiancdpetersen). Christian has supported MakerDAO's real-world finance Core Unit for the last 12 months and understands Maker's financing challenges on each deal. In addition to his time at Maker, Christian's experiences in the legal profession include:

- Executing transactions in over 40 countries over 25 years.
- 15 years of private practice at international law firms and 10 years in-house
- Leading legal for the $16B Mozambique LNG project financing involving multiple export credit agencies, international commercial banks, and the African Development Bank.
- Leading legal for multiple multi-billion dollar LNG sale and purchase agreements for Mozambique LNG with buyers from Japan, China, Taiwan, India, France, the UK, and the Netherlands.

Christian's first-hand understanding of the roles played by various groups in a transaction supports developing a competent legal services Core Unit and a Core Unit that promotes and protects Maker's values. As such, LTS commits to:

- Actively promote and abide by Maker DAO's radical transparency and openness promise.
- Measure accomplishment by meaningful and measurable collaboration with the Maker community, Core Units, and potential real-world users of the real-world asset program.
- Import the best international standards to Maker's real-world financing
- Aggressively merge TradFi and DeFi for the benefit of Maker and real-world finance.
- Demonstrate servant leadership.

[](https://forum.makerdao.com/t/ses-incubation-announcement-legal-and-transaction-services-core-unit-lts/14192#supporting-onboarding-rwas-5)Supporting Onboarding RWAs
----------------------------------------------------------------------------------------------------------------------------------------------------------------------

LTS's incubation announcement is the second of a three-part approach to restructuring MakerDAO's real-world lending activities for a sustainable and scalable future. More content is available on LTS and the larger initiative below:

 Christian's [recorded presentation on the proposed Lending and Transaction Services Core Unit 1](https://youtu.be/xcnMPrNy9BI) is available to explore the team's mission and vision in greater detail.

Opportunities to talk with Christian and the entire Real-world Assets team are possible during [RWA Office Hours, Wednesdays at 17:00 UTC](https://calendar.google.com/event?action=TEMPLATE&tmeid=NTRpbzg3cTE5YXVrMGVwdjc5NDdldmM0MHJfMjAyMjAzMjNUMTcwMDAwWiBtYWtlcmRhby5jb21fM2VmaG0yZ2hpcGtzZWdsMDA5a3RuaW9tZGtAZw&tmsrc=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com&scp=ALL).

Learn more about the [Lending Oversight Core Unit (LOVE) 2](https://forum.makerdao.com/t/the-lending-oversight-core-unit-love-001-cu-overview-incubation-update/13858) and the collective Core Unit effort to onboard RWAs.

</details></br>

###  [Risk](https://forum.makerdao.com/c/core-units/risk/6)

<details><summary>Risk Core Unit Month in Review: March 2022</summary><br>

[Link](https://forum.makerdao.com/t/risk-core-unit-month-in-review-march-2022/14424)

This post summarises the tasks, work, and activities of the [@Risk-Core-Unit](https://forum.makerdao.com/groups/risk-core-unit) for the month of March. This month's primary focus is outlined below.

A [Maker staking and tokenomics revision proposal 1](https://forum.makerdao.com/t/stkmkr-maker-staking-and-tokenomics-revision/13890) (stkMKR), by [@monet-supply](https://forum.makerdao.com/u/monet-supply), was posted to the forum. This post attracted significant interest and debate. Further discussion was included in the [8th episode](https://www.youtube.com/watch?v=uGvBI_L9jaI) of the Youtube series "Focus On". Subsequent to the stkMKR proposal, A16z published an additional [MKR tokenomics upgrade proposal 1](https://forum.makerdao.com/t/a16z-makerdao-tokenomics-proposal-overview/14134).

In the past, the Risk Core Unit has posted two Product Discussions (i) [Curve Pool Collaterals](https://forum.makerdao.com/t/product-discussion-curve-pool-collaterals/11980), and (ii) [NFTs as MakerDAO Collateral](https://forum.makerdao.com/t/product-discussion-nfts-as-makerdao-collateral/12619). These are designed to steer attention towards, and encourage feedback on, newly identified product ideas that may be of benefit to MakerDAO. In March, we posted a product discussion on a [Maker owned Fuse Pool and a Maker Fuse D3M 1](https://forum.makerdao.com/t/product-discussion-maker-owned-fuse-pools-and-maker-fuse-d3m/13955). We are currently gathering feedback from the community. A Signal Request on this topic will soon be posted.

Recently in an [on-chain vote](https://vote.makerdao.com/polling/QmYj6Wzd?network=mainnet#poll-detail), the community decided to finalize the offboarding of TUSD via liquidations. As a follow-up, the Risk Core Unit posted recommended [offboarding parameters for TUSD-A](https://forum.makerdao.com/t/proposed-parameters-for-offboarding-tusd-a/13506). The Executive Vote planned for Friday, April 15th, 2022 will [enact](https://forum.makerdao.com/t/attention-auction-participants-upcoming-tusd-liquidations/14329) these changes and enable liquidations for TUSD-A.

In March, MakerDAO's first Curve LP token collateral, CRVV1ETHSTETH-A, was onboarded. The Risk Core Unit proposed some [updated parameter recommendations](https://forum.makerdao.com/t/curvelp-steth-eth-parameters-adjustment/13767) before its release to mainnet. Changes included:

- decreasing the debt ceiling by 2 million from 5 million to 3 million;
- decreasing the stability fee by 1% from 4.5% to 3.5%;
- increasing the dust by 15,000 from 10,000 to 25,000.

Note that the [MakerDAO Open Market Committee (MOMC)](https://forum.makerdao.com/t/parameter-proposal-group-makerdao-open-market-committee/7355) has since then assessed the performance of CRVV1ETHSTETH-A and has [recommended 1](https://forum.makerdao.com/t/parameter-changes-proposal-ppg-omc-001-31-march-2022/14347) decreasing the stability fee by 1.25% from 3.5% to 2.25%. More information on this below.

[@Primoz](https://forum.makerdao.com/u/primoz) and [@rema](https://forum.makerdao.com/u/rema) posted their feedback on an [informal poll](https://forum.makerdao.com/t/informal-poll-actions-to-increase-competitiveness-of-eth-steth-collateral/14090) focusing on ways to increase the competitiveness of ETH & stETH collateral. Primoz [highlighted 1](https://forum.makerdao.com/t/informal-poll-actions-to-increase-competitiveness-of-eth-steth-collateral/14090/7) the risk factors of using aETH as collateral. He also raised several key points to consider if Maker decides to add other wstETH collateral types. Rema [analysed](https://forum.makerdao.com/t/informal-poll-actions-to-increase-competitiveness-of-eth-steth-collateral/14090/16) the risks, and assessed the potential demand, for additional wstETH and aETH vault types. In summary, it is believed that wstETH-B will generate relatively low demand, while wstETH-C has a higher potential to gain traction. The added risks of an aETH vault type are likely to outweigh the potential benefits to MakerDAO.

In the [Governance and Risk #184](https://forum.makerdao.com/t/governance-and-risk-184-thursday-march-31-17-00-utc/14314) meeting on March 31, 2022, the Risk Core Unit further discussed the topic of ETH staking derivatives. Questions included:

- What are the current market trends for stETH usage in DeFi?
- What are actions that Maker should consider?
- What effect will rising ETH/stETH yields have on Stability Fees?
- How can Maker become a more attractive protocol for stETH owners?

Potential collateral alternatives were discussed. These included (i) wstETH-C, (ii) leveraged stETH as collateral, and (iii) support for other staking derivatives, such as rETH (Rocket Pool).

Updates and improvements to the [MakerDAO Risk Dashboard](https://maker.blockanalitica.com/), including an Auction Kick Simulation and scaling out D3M monitoring tools, were undertaken. More details follow below.

Updates and improvements to the [Makerburn website 1](https://makerburn.com/#/) are also set out below. Key topics for March include (i) adding support for MKR transfers on the expense page, (ii) Core Units Expense Overview, and (iii) focusing on internal maintenance/optimization.

Two Risk Core Unit members, [@Primoz](https://forum.makerdao.com/u/primoz) and [@monet-supply](https://forum.makerdao.com/u/monet-supply) are part of the MOMC. Proposed changes this month include:

- decreasing the stability fee for WBTC-A, WBTC-B, WSTETH-A, CRVV1ETHSTETH-A, GUNIV3DAIUSDC1-A, and GUNIV2DAIUSDC2-A;
- increasing the debt ceiling for GUNIV3DAIUSDC1-A, and GUNIV2DAIUSDC2-A;
- increasing the bar for the Aave D3M.

More information about these changes is illustrated in the table screenshot below. The proposed changes will be submitted for an on-chain vote this week.

This is the eighth monthly summary published by the Risk Core Unit. To read last month's summary, click [here](https://forum.makerdao.com/t/risk-core-unit-month-in-review-february-2022/13512). We will continue to update the community on a monthly basis going forward. We value any questions, specific requests, or suggestions regarding these updates. Please add any comments below or get in touch directly with members of the [@Risk-Core-Unit](https://forum.makerdao.com/groups/risk-core-unit).

[](https://forum.makerdao.com/t/risk-core-unit-month-in-review-march-2022/14424#collateral-onboarding-other-analyses-1)Collateral Onboarding & Other Analyses
=============================================================================================================================================================

- [stkMKR: Maker Staking and Tokenomics Revision (March 14, 2022) 1](https://forum.makerdao.com/t/stkmkr-maker-staking-and-tokenomics-revision/13890)
- [Product Discussion: Maker Owned Fuse Pools and Maker Fuse D3M (March 16, 2022) 1](https://forum.makerdao.com/t/product-discussion-maker-owned-fuse-pools-and-maker-fuse-d3m/13955)
- [Focus on #08 | stkMKR: Staking & Tokenomics Revision (March 23, 2022)](https://www.youtube.com/watch?v=uGvBI_L9jaI&ab_channel=MakerDAO)
- [wstETH-B, wstETH-C, and aETH Feasibility Analysis (March 30, 2022)](https://forum.makerdao.com/t/informal-poll-actions-to-increase-competitiveness-of-eth-steth-collateral/14090/16)

[](https://forum.makerdao.com/t/risk-core-unit-month-in-review-march-2022/14424#proposals-2)Proposals
=====================================================================================================

- [Proposed parameters for offboarding TUSD-A (March 1, 2022)](https://forum.makerdao.com/t/proposed-parameters-for-offboarding-tusd-a/13506)
- [[CurveLP-stETH-ETH] Parameters Adjustment (March 9, 2022)](https://forum.makerdao.com/t/curvelp-steth-eth-parameters-adjustment/13767)

[](https://forum.makerdao.com/t/risk-core-unit-month-in-review-march-2022/14424#maker-risk-dashboard-3)Maker Risk Dashboard
===========================================================================================================================

- Building monitoring tools to monitor D3M on other protocols
- [Auction Kick Simulation](https://maker.blockanalitica.com/auctions/kick-sim/): simulation of different auctions parameters on historic price drops

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[](https://forum.makerdao.com/t/risk-core-unit-month-in-review-march-2022/14424#makerburn-4)Makerburn
=====================================================================================================

- Support for MKR transfers on the expense page
- Internal maintenance/optimizations
- [Core Units Overview](https://makerburn.com/#/expenses/core-units) including MKR vesting, DAI vesting, and expenses last year

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[](https://forum.makerdao.com/t/risk-core-unit-month-in-review-march-2022/14424#makerdao-open-market-committee-5)MakerDAO Open Market Committee
===============================================================================================================================================

- [Parameter Changes Proposal - PPG-OMC-001 - 31 March 2022 (March 31, 2022) 1](https://forum.makerdao.com/t/parameter-changes-proposal-ppg-omc-001-31-march-2022/14347)

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[](https://forum.makerdao.com/t/risk-core-unit-month-in-review-march-2022/14424#community-engagements-on-the-maker-forum-6)Community Engagements on the Maker Forum
===================================================================================================================================================================

- [ALM framework for MakerDAO - reply from josolnik (March 2, 2022)](https://forum.makerdao.com/t/alm-framework-for-makerdao/12994/40)
- [Call for Responsible Budget and Process - reply from Makerburn (March 10, 2022)](https://forum.makerdao.com/t/call-for-responsible-budget-and-process/13816/10)
- [[Signal Request] Onboard D3M For Notional Finance - reply from monet-supply (March 10, 2022)](https://forum.makerdao.com/t/signal-request-onboard-d3m-for-notional-finance/13782/8)
- [[Informal poll] Actions to increase competitiveness of ETH & stETH collateral - reply from Primoz (March 22, 2022) 1](https://forum.makerdao.com/t/informal-poll-actions-to-increase-competitiveness-of-eth-steth-collateral/14090/7)
- [[CurveLP-stETH-ETH] Parameters Adjustment - reply from Sean (March 22, 2022)](https://forum.makerdao.com/t/curvelp-steth-eth-parameters-adjustment/13767/3)
- [Product Discussion: Maker Owned Fuse Pools and Maker Fuse D3M - reply from rema (March 24, 2022)](https://forum.makerdao.com/t/product-discussion-maker-owned-fuse-pools-and-maker-fuse-d3m/13955/7)
- [[Informal poll] Actions to increase competitiveness of ETH & stETH collateral - reply from rema (March 31, 2022)](https://forum.makerdao.com/t/informal-poll-actions-to-increase-competitiveness-of-eth-steth-collateral/14090/19)
- [Makerburn requests - reply from Makerburn (March 31, 2022)](https://forum.makerdao.com/t/makerburn-requests/8938/70)
- [Makerburn requests - reply from Makerburn (March 31, 2022)](https://forum.makerdao.com/t/makerburn-requests/8938/73)

[](https://forum.makerdao.com/t/risk-core-unit-month-in-review-march-2022/14424#pending-work-7)Pending Work
===========================================================================================================

- L2 parameters discussions with other CUs
- PAXG risk assessment revision if signal passes
- ETH Amsterdam attendance in April
- Investigate wrapped YFI style strategies
- Institutional Vaults launch and development of monitoring tools

To read more about previous work and engagement from the Risk Core Unit, please visit our [forum archive](https://maker.blockanalitica.com/forum-archive/), where we document all relevant topics and discussions that the Risk Core Unit participates in on the Maker Governance Forum.

</details></br>

###  [StarkNet Engineering]()

<details><summary></summary><br>

[Link]()

</details></br>

###  [Strategic Finance](https://forum.makerdao.com/c/core-units/strategic-finance)

<details><summary>MakerDAO Actual Expenses vs Budget - February 2022</summary><br>

[Link](https://forum.makerdao.com/t/makerdao-actual-expenses-vs-budget-february-2022/14327)

All,

Please see below for the February update of the monthly Core Unit expenses, including a forecast for the subsequent three months.

As you can see from the below table, DAI expenses decreased to $2.3M in February ($0.3M vs prior month) and our forecasted expenses are expected to increase to $3M/month by April, a $36.3M annual run-rate. Adding in estimated annual Oracle gas costs of $5.1M (trailing three month average of $427K annualized), brings us to an annual cash burn rate of $41.4M, a $0.6M decrease from prior month's estimate.

Over the past four weeks, we've seen a significant decrease in Oracle gas expenses, driven by lower Gwei prices due to lower NFT trading volumes. During this period we've been spending ~2 ETH per day, or about $150K/month at current ETH prices. This is too small to be a meaningful sample size and extrapolate off of, but quite positive to see as these cost savings drop directly to the bottom line.

The MKR vesting schedule for every Core Unit and summarized the P&L impact incurred to date based on the vested price has also been included. To date this only covers Risk due to the 300 MKR retroactive payment approved by MKR holders, but this will increase by 4.1K additional MKR vesting by April, primarily driven by the PECU.

Link is provided at the very bottom if anyone would like to view the full vesting schedule and spreadsheets.

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File with vesting schedule can be found [here](https://drive.google.com/file/d/1As-dXggjK7VQyCNW5xwRKHOOvwCYqJat/view?usp=sharing)

</details></br>

<details><summary>Financial Report 2022-03</summary><br>

[Link](https://forum.makerdao.com/t/financial-report-2022-03/14487)

Financial Report 2022-03
Hello all, new mixtape from @strat-fin-core-unit dropping. The financial report for March 2022 is available here 16.

Please let us know your thoughts and comments on these pages.

Summary
Overall Net Protocol Income was 2.7M DAI, -44% from February and -69% from March 2021. Annualized ROE has held stable at around 90%.

Volatility is high in this market. To weather it, we need to nurture and grow our whales, increase the frequency with which the DAO’s makes revenue-generating bets and improve our asset productivity.

Selected Observations
QoQ Recurring Net Protocol Income (rNPI) change of -4.8M DAI driven by change in assets
MoM increase in workforce expenses driven by higher CU costs
Caveat that we don’t report workforce expenses on an accrual basis so some CUs will have a phasing issue with higher expenses one month and 0 the next
P/B Ratio of 23.4x suggests there is a lot of value expectation priced in to MKR at current capitalization levels - for comparison’s sakes BofA trades at ~1.2x and Citigroup at ~0.6x
YoY ETH lending market contracted -18% but amid this context, Aave took share growing 35% to MKR -33% and Compound -42%
WBTC lending market expanded 36% YoY with Aave growing 250% to MKR 80% amid last-minute loss of a key WBTC vault
Dai outstanding slightly up to 9.5bn DAI

Selected Slides:

If you’re on Dark Mode you’re going to have a bad time

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Thanks to [@Kayleigh](https://forum.makerdao.com/u/kayleigh) for all the work putting it together

</details></br>

###  [Sustainable Ecosystem Scaling](https://forum.makerdao.com/c/core-units/sustainable-ecosystem-scaling)

<details><summary>SES Weekly Status Update: Lending Oversight Core Unit Incubation Announcement</summary><br>

[Link](https://forum.makerdao.com/t/ses-weekly-status-update-lending-oversight-core-unit-incubation-announcement/13630)

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### [](https://forum.makerdao.com/t/ses-weekly-status-update-lending-oversight-core-unit-incubation-announcement/13630#this-weeks-topic-lending-oversight-core-unit-incubation-announcement-1)This Week's Topic: Lending Oversight Core Unit Incubation Announcement

### [](https://forum.makerdao.com/t/ses-weekly-status-update-lending-oversight-core-unit-incubation-announcement/13630#join-us-herehttpswwwcrowdcastiomaker-ses-on-date2022-03-04-time153000-timezoneutc-2)[Join us here! 5](https://www.crowdcast.io/maker-ses) on  March 4, 2022 10:30 AM

This Friday, MakerDAO SES will introduce the proposed Lending Oversight Core Unit (LOVE-001) to the community. This Core Unit is an integral part of the Real-world Asset restructuring initiative MakerDAO SES is undertaking.

Led by facilitator candidate Luca Prosperi [@luca_pro](https://forum.makerdao.com/u/luca_pro), the proposed Lending Oversight Core Unit will present their mission and vision of how MakerDAO could onboarding tens of billions of complex assets that have real use cases beyond trading.

By adding a little LOVE, Luca and his team envision a path for MakerDAO to become the central pillar of the DeFi monetary ecosystem, with diligent credit quality reviews, deal structuring, and risk management.

Join us  March 4, 2022 10:30 AM to meet the team and have your questions answered during this Friday's status update.

[Add the SES Status Update Call to your calendar 1](https://calendar.google.com/event?action=TEMPLATE&tmeid=NnYzMnYxZG9jOWwwY3FlcWduODdxcmNqZDRfMjAyMjAzMDRUMTUzMDAwWiBtYWtlcmRhby5jb21fM2VmaG0yZ2hpcGtzZWdsMDA5a3RuaW9tZGtAZw&tmsrc=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com)

### [](https://forum.makerdao.com/t/ses-weekly-status-update-lending-oversight-core-unit-incubation-announcement/13630#links-3)Links

- [Discord 1](https://discord.gg/h64CXspejc)
- [Drive 1](https://drive.google.com/drive/u/1/folders/0AFnWIfR4at7jUk9PVA)
- [Notion 2](https://ses.makerdao.network/)

* * * * *

[@ses-core-unit](https://forum.makerdao.com/groups/ses-core-unit)

</details></br>

<details><summary>SES Weekly Status Update: Ecosystem Performance API & Dashboard Upd</summary><br>

[Link](https://forum.makerdao.com/t/ses-weekly-status-update-ecosystem-performance-api-dashboard-update/13829)

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### [](https://forum.makerdao.com/t/ses-weekly-status-update-ecosystem-performance-api-dashboard-update/13829#this-weeks-topic-ecosystem-performance-api-dashboard-1)This Week's Topic: Ecosystem Performance API & Dashboard

### [](https://forum.makerdao.com/t/ses-weekly-status-update-ecosystem-performance-api-dashboard-update/13829#join-us-herehttpswwwcrowdcastiomaker-ses-on-date2022-03-11-time153000-timezoneutc-2)[Join us here! 1](https://www.crowdcast.io/maker-ses) on  March 11, 2022 10:30 AM

MakerDAO SES is hosting a status update on the Ecosystem Performance API & Dashboard initiative this Friday. Our update will explore the need for this tool based on conversations we've had with diverse stakeholders across the DAO. We will also discuss the conceptual design of the data model, and how it will be implemented to create an openly available API for unlocking further actionable insights from the data Core Units produce.

 [@Jack](https://forum.makerdao.com/u/jack) & [@jordan.jackson](https://forum.makerdao.com/u/jordan.jackson) will present.

[Add the SES Status Update Call to your calendar](https://calendar.google.com/event?action=TEMPLATE&tmeid=NnYzMnYxZG9jOWwwY3FlcWduODdxcmNqZDRfMjAyMjAzMTFUMTUzMDAwWiBtYWtlcmRhby5jb21fM2VmaG0yZ2hpcGtzZWdsMDA5a3RuaW9tZGtAZw&tmsrc=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com)

[](https://forum.makerdao.com/t/ses-weekly-status-update-ecosystem-performance-api-dashboard-update/13829#other-updates-3)Other Updates
=======================================================================================================================================

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[](https://forum.makerdao.com/t/ses-weekly-status-update-ecosystem-performance-api-dashboard-update/13829#incubator-news-4)Incubator News
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- The proposed Lending Oversight Core Unit hosted their [Core Unit Overview call last week on the SES Status Update](https://youtu.be/6daNZXjoRNM).
- The Real-world Asset restructuring initiative introduces the incubation of the Legal & Transaction Services Core Unit. This is a proposed Core Unit that will support the legal elements of structured finance deals involving RWAs. The LTS team is gearing up to present their Core Unit Overview to the community in the coming weeks.

[](https://forum.makerdao.com/t/ses-weekly-status-update-ecosystem-performance-api-dashboard-update/13829#okr-1-incubation-program-restructuring-update-5)OKR #1 - Incubation Program Restructuring Update
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- MakerDAO SES is calling on the community to contribute ideas to a list of Core Units the DAO needs next. [The post for discussions can be found here 1](https://forum.makerdao.com/t/what-core-units-does-the-dao-need-next/13594).

[](https://forum.makerdao.com/t/ses-weekly-status-update-ecosystem-performance-api-dashboard-update/13829#okr-3-ecosystem-performance-api-dashboard-update-6)OKR #3 - Ecosystem Performance API & Dashboard Update
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- This week's SES Spotlight topic is a deep dive into the Ecosystem Performance API & Dashboard Update. [Join us here🔗 1](https://www.crowdcast.io/maker-ses)  March 11, 2022 10:30 AM .

[](https://forum.makerdao.com/t/ses-weekly-status-update-ecosystem-performance-api-dashboard-update/13829#with-the-community-7)With the Community!
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 16.03 [*Collateral Onboarding Call #39:* D3M for Notional Finance 1](https://forum.makerdao.com/t/collateral-onboarding-call-39-d3m-for-notional-finance-signal-request-discussion/13828)

[Add to your calendar!](https://calendar.google.com/event?action=TEMPLATE&tmeid=MGpjazc5ajNsZzZzMWYxZmlrdDhpdG5xOGIgbWFrZXJkYW8uY29tXzNlZmhtMmdoaXBrc2VnbDAwOWt0bmlvbWRrQGc&tmsrc=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com)

 16.03 [*Focus On #6:* Data Insights Core Unit Update](https://forum.makerdao.com/t/focus-on-6-data-insights-core-unit/13827)

[Add to your calendar!](https://calendar.google.com/event?action=TEMPLATE&tmeid=N2Q0ZGcyZjZrMmJpOHJqZWc2bDgzMmw2ZnMgbWFrZXJkYW8uY29tXzNlZmhtMmdoaXBrc2VnbDAwOWt0bmlvbWRrQGc&tmsrc=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com)

[](https://forum.makerdao.com/t/ses-weekly-status-update-ecosystem-performance-api-dashboard-update/13829#contacts-8)Contacts
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### [](https://forum.makerdao.com/t/ses-weekly-status-update-ecosystem-performance-api-dashboard-update/13829#links-9)Links

- [Discord](https://discord.gg/h64CXspejc)
- [Drive](https://drive.google.com/drive/u/1/folders/0AFnWIfR4at7jUk9PVA)
- [Notion](https://ses.makerdao.network/)

* * * * *

[@ses-core-unit](https://forum.makerdao.com/groups/ses-core-unit)

</details></br>
<details><summary>SES Weekly Status Update: Legal & Transaction Services Core Unit Incubation Announcement</summary><br>

[Link](https://forum.makerdao.com/t/ses-weekly-status-update-legal-transaction-services-core-unit-incubation-announcement/14002)

SES Weekly Status Update: Legal & Transaction Services Core Unit Incubation Announcement
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### [](https://forum.makerdao.com/t/ses-weekly-status-update-legal-transaction-services-core-unit-incubation-announcement/14002#this-weeks-topic-legal-transaction-services-core-unit-overview-2)This Week's Topic: Legal & Transaction Services Core Unit Overview

### [](https://forum.makerdao.com/t/ses-weekly-status-update-legal-transaction-services-core-unit-incubation-announcement/14002#join-us-herehttpscrowdcastiocses-weekly-status-update-5-on-date2022-03-18-time153000-timezoneutc-3)[Join us here! 12](https://crowdcast.io/c/ses-weekly-status-update-5) on  March 18, 2022 11:30 AM

This Friday, MakerDAO SES will introduce the proposed Legal & Transaction Services Core Unit (LTS) to the community. This proposed Core Unit is an integral part of the Real-world Asset restructuring initiative MakerDAO SES is undertaking.

Lead by facilitator candidate Christian Petersen [@christiancdpetersen](https://forum.makerdao.com/u/christiancdpetersen), the proposed LTS Core Unit will present their mission and vision of a Core Unit dedicated to supporting the legal aspects of lending and transactions, involving no-crypto assets, within the real world.

As a global and borderless finance platform, MakerDAO faces many challenges ranging from navigating various jurisdictions, non-homogenous contracts, and the unknowns of breaking ground into bridging real-world and blockchain activities.

Join us  March 18, 2022 11:30 AM to explore the strategy LTS is deploying to solves these challenges, and have your questions answered during this Friday's status update.

[Add the SES Status Update Call to your calendar 4](https://calendar.google.com/event?action=TEMPLATE&tmeid=NnYzMnYxZG9jOWwwY3FlcWduODdxcmNqZDRfMjAyMjAzMThUMTUzMDAwWiBtYWtlcmRhby5jb21fM2VmaG0yZ2hpcGtzZWdsMDA5a3RuaW9tZGtAZw&tmsrc=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com)

[](https://forum.makerdao.com/t/ses-weekly-status-update-legal-transaction-services-core-unit-incubation-announcement/14002#with-the-community-focus-on-double-feature-4)With the Community - *Focus On* Double Feature!
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 22.03 [*Focus On #7:* RWA Lending Principles](https://forum.makerdao.com/t/focus-on-7-rwa-lending-principles/14000)

[Add to your calendar!](https://calendar.google.com/event?action=TEMPLATE&tmeid=NzJlMGpzOHIwdHBwcDRtaWI3ZWZpZXVxdGogbWFrZXJkYW8uY29tXzNlZmhtMmdoaXBrc2VnbDAwOWt0bmlvbWRrQGc&tmsrc=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com)

 23.03 [*Focus On #8:* stkMKR: Staking & Tokenomics Revision](https://forum.makerdao.com/t/focus-on-8-stkmkr-staking-tokenomics-revision/14001)

[Add to your calendar!](https://calendar.google.com/event?action=TEMPLATE&tmeid=N3Nzam90NTJ0cjdwMGI0bWtuZ3Z0ZG8ycjcgbWFrZXJkYW8uY29tXzNlZmhtMmdoaXBrc2VnbDAwOWt0bmlvbWRrQGc&tmsrc=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com)

### [](https://forum.makerdao.com/t/ses-weekly-status-update-legal-transaction-services-core-unit-incubation-announcement/14002#links-5)Links

- [Discord 1](https://discord.gg/h64CXspejc)
- [Drive](https://drive.google.com/drive/u/1/folders/0AFnWIfR4at7jUk9PVA)
- [Notion](https://ses.makerdao.network/)

* * * * *

[@ses-core-unit](https://forum.makerdao.com/groups/ses-core-unit)

</details></br>
<details><summary>SES Weekly Status Update: Incubation Content Refresh</summary><br>

[Link](https://forum.makerdao.com/t/ses-weekly-status-update-incubation-content-refresh/14207)

SES Weekly Status Update: Incubation Content Refresh
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### [](https://forum.makerdao.com/t/ses-weekly-status-update-incubation-content-refresh/14207#this-weeks-topic-incubation-content-refresh-2)This Week's Topic: Incubation Content Refresh

### [](https://forum.makerdao.com/t/ses-weekly-status-update-incubation-content-refresh/14207#join-us-herehttpswwwcrowdcastiocses-weekly-status-update-6-on-date2022-03-25-time153000-timezoneutc-3)[Join us here! 2](https://www.crowdcast.io/c/ses-weekly-status-update-6) on  March 25, 2022 11:30 AM

On this week's SES Weekly Status Update, we will share an update on the development of our Incubation Program's content creation. As shared in past updates, SES is using lessons learned from the first year of operations and refocusing the incubation program on preparing and producing facilitator candidates (vs. incubating entire core unit teams).

Supporting this process is Maker Academy, an incubating core unit that will graduate under the current structure of the incubation program. The team are currently working on introducing a best-in-class educational platform, purpose-built for MakerDAO. Leveraging this collaboration, SES aims to produce educational content that will not only improve our incubator, but also reduce MakerDAO's barriers to entry once it's publicly made available.

[Add the SES Status Update Call to your calendar 1](https://calendar.google.com/event?action=TEMPLATE&tmeid=NnYzMnYxZG9jOWwwY3FlcWduODdxcmNqZDRfMjAyMjAzMjVUMTUzMDAwWiBtYWtlcmRhby5jb21fM2VmaG0yZ2hpcGtzZWdsMDA5a3RuaW9tZGtAZw&tmsrc=makerdao.com_3efhm2ghipksegl009ktniomdk%40group.calendar.google.com)

[](https://forum.makerdao.com/t/ses-weekly-status-update-incubation-content-refresh/14207#other-updates-4)Other Updates
=======================================================================================================================

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[](https://forum.makerdao.com/t/ses-weekly-status-update-incubation-content-refresh/14207#incubator-news-5)Incubator News
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- Chaos Labs has begun drafting their MIP set. The team's focus has shifted from technical development of their solution to preparing for their governance campaign. Learn more about their agent and scenario based testing infrastructure by watching this [recording of their Core Unit Overview 1](https://youtu.be/wx_VGBrQBx8).
- Maker Academy is deep in development, both of their educational platform and content. They are making progress towards releasing their platform's beta for community feedback.
- The Legal and Transaction Services Core Unit (LTS) presented their Core Unit Overview on last week's SES Weekly Status Update. [Watch the recording here](https://youtu.be/xcnMPrNy9BI), and engage in the ongoing conversation with this [forum post summary](https://forum.makerdao.com/t/ses-incubation-announcement-legal-and-transaction-services-core-unit-lts/14192).

[](https://forum.makerdao.com/t/ses-weekly-status-update-incubation-content-refresh/14207#with-the-community-6)With the Community!
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 22.03 [*Focus On #7:* RWA Lending Principles](https://forum.makerdao.com/t/focus-on-7-rwa-lending-principles/14000)

[Recording Live!](https://youtu.be/0PHMxH9zsR4)

 23.03 [*Focus On #8:* Data Insights Core Unit Update](https://forum.makerdao.com/t/focus-on-8-stkmkr-staking-tokenomics-revision/14001)

[Recording Live!](https://youtu.be/uGvBI_L9jaI)

[](https://forum.makerdao.com/t/ses-weekly-status-update-incubation-content-refresh/14207#contacts-7)Contacts
-------------------------------------------------------------------------------------------------------------

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### [](https://forum.makerdao.com/t/ses-weekly-status-update-incubation-content-refresh/14207#links-8)Links

- [Discord](https://discord.gg/h64CXspejc)
- [Drive](https://drive.google.com/drive/u/1/folders/0AFnWIfR4at7jUk9PVA)
- [Notion](https://ses.makerdao.network/)

* * * * *

[@ses-core-unit](https://forum.makerdao.com/groups/ses-core-unit)

</details></br>
<details><summary>Maker Academy Status Update #2</summary><br>

[Link](https://forum.makerdao.com/t/maker-academy-status-update-2/14017)

Maker Academy's Second Status Update!

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Maker Academy has finished an alpha version of their website that was released to select members of the community for demo.

Maker Academy's alpha version of their website now supports:

- Ability for users to write and submit educational content onto the site.

- Ability for site administrators (Maker Academy team members for now) to moderate, approve, or reject user-submitted content.

- Ability for users to write and submit edits to existing published educational content.

- Ability for original authors to accept/reject edits to their content.

HOWEVER, Maker Academy has decided to suspend features in relation to content production and editing for a few more months. Maker Academy wants to ensure that a high standard of content is delivered before giving anyone the ability to create content. As a result, we have decided to move focus to content production, as opposed to platform development. Although our platform would have been ready with an extended feature set by the end of March, we would like to produce a lot of content before this. This has pushed back the release date of Maker Academy's platform.

Ideally, we would like to have 3-4 courses on our site before we publish. For now, this set of courses will include: material from SES's incubation program, material from PECU's course on formal verification, history of makerdao course, a course on content production, and a use cases of DAI course. However, we might include a course on maker's liquidation system, emergency shutdown system, and a course on the history of the Maker protocol as well.

</details></br>