---
# System prepended metadata

title: 'Weekly Relay | October 29 - November 4, 2022'
tags: [Weekly Relay]

---

---
tags: Weekly Relay
---

# Weekly Relay | October 29 - November 4, 2022

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

_Hi, everyone; thanks for checking out the Weekly Relay! Whether you hold MKR or DAI, own a vault, or want to get more involved in governance, this is your one-stop shop for MakerDAO updates._

Authors: @alec, @Sol_Invictus, and @Artem_Gordon

<small>[Online PDF version]()</small>

---
## 🍿 **CURRENT EVENTS**

Last week's [**G&R Call**](https://www.youtube.com/watch?v=1CldERGVzFM) saw two proposed Clusters further detail their overarching schemas: *Crimson* and *Viridian*. 

A summarized breakdown of each Q&A segment will follow. 

### **Crimson Cluster**

<small>Cluster presentation [here](https://www.youtube.com/watch?v=1CldERGVzFM&t=864s).</small>

![](https://i.imgur.com/42hR4PV.jpg)

**"What is Crimson's cash-flow generation, and how does it incorporate into the metaDAO token?"**

Per @hexonaut, Crimson's inaugural release will be a high-efficiency lending front-end. Initially, cash flow generates from this lending engine in the form of interest rates. 

* Much like Maker Vaults, users can deposit digital assets to borrow DAI (with an attached Stability Fee). 
* Further premiums are collected from users "borrowing" this lent collateral. 

These collected fees would then be dispersed between LPs and the metaDAO. 

**"Do you plan on using the D3M for RWA platforms?"**

Crimson is not currently focused on RWAs, but rather on DeFi-native assets. 

**"Will Crimson have on-chain governance?"**

Yes, the metaToken will function as the platform's governance token.

**"What are some potential competitors, and how is this Cluster better?"**

*Listed Competitors: Aave, Compound, Oiler Finance.* 

@hexonaut believes Crimson possesses two niche advantages: 

1. The platform focuses on significant assets (i.e., BTC, ETH, and staked ETH derivatives) and will not be competing for tail-end assets. 
2. All other lending markets utilize Chainlink oracles. Initially, Crimson will instead use Maker Oracles, but the ultimate vision remains a multi-oracle system, utilizing both Chainlink and Maker Oracles. 

**"Are you planning on having algorithmic rates?"**

Stables can be borrowed at fixed rates in quantities not exceeding the current debt ceiling. @hexonaut sees these fixed rates as an integral part of the platform's draw.

"Users don't like taking leveraged positions on platforms with volatile lending rates that can spike at any time, so [Crimson] prefers the Maker model for stablecoin borrowing."

<small>The full interview can be found [**here**](https://www.youtube.com/watch?v=1CldERGVzFM&t=864s), or through the above link.</small>

### **Viridian Cluster**

<small>Cluster presentation [here](https://www.youtube.com/watch?v=1CldERGVzFM&t=1853s).</small>

![](https://i.imgur.com/XBacDki.jpg)

**"How is your cluster thinking about the possibility of "risk-on" partnerships with arrangers that go after riskier opportunities?"**

Per @Allan_Pedersen, the idea is to generate maximum yield, but many of the strat-gems depend on the "hard frameworks" Maker develops to expand RWAs.

**"Do you see any opportunities in the short-to-medium term with Corporates?"**

Viridian currently operates "risk on," and the current governance process moves too slowly to undertake these risks in the current climate. 

The team does see an opportunity here, but they might not be ideal for Maker as situated. 

**"How do you plan on hedging Risk for RMBS when exposed to it through arrangers?"**

Because these bonds are bought below "par," Viridian should capture additional yield. 

This would typically create additional risks as this inflow is reinvested, but the team doesn't expect to sustain losses on this yield as Viridian's cash flow is sufficiently compressed. 

**"In the current environment, why not just go all in on treasuries and earn over 4% with minimal risk?"**

Per @SebVentures, the team has considered re-investing its short-term bonds, but to do so through DeFi instruments presents a problem.  

"At some point, we have to give some of this cash flow to DAI holders by increasing the DSR." To receive a 4% yield "risk-free," the allocated stables would need to be arbitraged. 

Using DeFi products for this process, much of this yield would be lost to slippage and arbitrageurs. Placed alongside any DSR increases, the overall spread would be very narrow. 

**"Is the Viridian Cluster responsible for the risk and legal assessments of its RWA deals?"**

Per @Allan_Pedersen, the team hopes to provide stand-alone risk and legal assessments regarding "direct counterparties" (i.e., Monetalis and any future arranges ratified through governance). 

<small>The full discussion can be found [**here**](https://www.youtube.com/watch?v=1CldERGVzFM&t=1853s), or via the link in the title.</small>

---    
## 📢 Shout-outs!

### **Drinks with Delegates ft. Kurt Barry of PECU!**

https://www.youtube.com/watch?v=r7DbBMJz7g8

@ultraschuppi and @elprogreso meet again, but this time they invite @Kurt_Barry to discuss decentralized stablecoins and the challenges associated with long-term scaling. Moreover, the trio shared their opinions and possible implications for reactivating the DSR as federal interest rates continue to rise. This idea originated in the [governance channel](https://discord.com/channels/893112320329396265/899667119426371625/1037677514774020187). However, the drinks were not finished that soon; Further discussions focused on the Target Rate Feedback Mechanism and the DeFi Collateral Problem. 

### **SES Ecosystem Performance API & Dashboard - New Release**

- Visit their dashboard at https://expenses.makerdao.network/
- The GraphQL API can be accessed using the [API explorer](https://studio.apollographql.com/public/Performance-Dashboard-Prd)
- Download the latest budget tool [here](https://github.com/liberuum/budget-tool/releases)

SES is excited to announce the following additions to their Expenses Dashboard:

- :new: **DAO-Level Activity Feed**
    - A global activity feed with everything happening on the platform, with the possibility to filter by the Core Units of interest.
- **Privacy Control Improvement**
    - :new: Allow the user to choose if cookies can be used for remembering the dark mode toggle, last visit indicators, and basic feature usage tracking.
- **Commenting Improvement for Expense Reports**
    - :new: A general comments tool for the monthly expense report enables Core Unit Administrators to provide more context for their expenses.
- **Offboarded Core Units Improvement**
    - :new: With the recently voted-in changes to offboard several MakerDAO Core Units, SES has further specified these changes in the dashboard by introducing “obsolete” status for such Core Units.
- new **User Authentication**
    - :new: SES is currently working on the ability for users to authenticate on the dashboard, which is a critical requirement for future collaboration features.

---
## :phone: Calls, Meetings, and Events <!-- Constanza -->

<sup> Visit: [_Calls Calendar_](https://calendar.google.com/calendar/u/0?cid=bWFrZXJkYW8uY29tXzNlZmhtMmdoaXBrc2VnbDAwOWt0bmlvbWRrQGdyb3VwLmNhbGVuZGFyLmdvb2dsZS5jb20)

### Last Week's Calls
    
- **MakerDAO Governance & Risk Meeting #214**
    - [Video](https://youtu.be/1CldERGVzFM) / [Forum](https://forum.makerdao.com/t/governance-and-risk-214-november-03-at-17-00-utc/18637) / [Editorial]()
    - Selected Discussion: Sam MacPherson (@hexonaut) & Allan Pedersen (@Allan_Pedersen), members of the [_Crimson_](https://forum.makerdao.com/t/crimson-creator-cluster/18241) and [_Viridian_](https://forum.makerdao.com/t/viridian-cluster-introduction/18332) Clusters, walked us through their clusters' main goals and answered our questions!
- *Last week's DVC call was [canceled](https://forum.makerdao.com/t/no-meeting-today-endgame-call-wednesdays-9pm-cest-link/18123)*
- *Last week's Delegate Office Hours was a 'chill session' and, therefore, unrecorded.*
    
### Upcoming Calls

- **Decentralized Voter Committee** - [date=2022-11-09 time=19:00:00 timezone="UTC"]
    - [Join Link](https://us02web.zoom.us/j/89326394914)
- **Delegate Office Hours** - [date=2022-11-10 time=16:00:00 timezone="UTC"]
    - [Join Link](https://us02web.zoom.us/j/88920093364) 
- **MakerDAO Governance & Risk Meeting #215** - [date=2022-11-10 time=17:00:00 timezone="UTC"]
    - [Join Link](https://zoom.us/j/697074715)
    
---
### **Core Unit Office Hours**

- [Join Link](https://us02web.zoom.us/j/82603350722?pwd=RThleVo5QlBRT1FuOWxiRCs3K0k2Zz09) | **GovAlpha Governance Q&As** - [date=2022-11-07 time=17:00:00 timezone="UTC"]
 - [Join Link](https://makerdao.bigbluemeeting.com/adm-eox-jtz-tsi) | **Immunefi Security** - [date=2022-11-09 time=15:00:00 timezone="UTC"]
 - [Join Link](https://us02web.zoom.us/j/85252786103?pwd=bEZaZXdEcGlSWWd5bmpxMDBvVjdEUT09) | **Sustainable Ecosystem Scaling** - [date=2022-11-08 time=14:30:00 timezone="UTC"]
 - [Join Link](https://www.google.com/url?q=https://meet.google.com/bjm-qiup-hif&sa=D&source=calendar&ust=1620493080631000&usg=AOvVaw056SKuyQn3F67FAtJTPIbl) | **Protocol Engineering** - [date=2022-11-08 time=15:00:00 timezone="UTC"]
[Join Link](https://us02web.zoom.us/j/81560369659) | **6S Capital** - Every Other Wednesday at 14:00 UTC 
 - [Join Link](https://meet.google.com/sap-nttu-xga) | **Growth** - First Wednesday of Each Month at 17:00 UTC
 - [Join Link](https://meet.google.com/kwf-qayf-xdq) | **Real World Finance** - Every Other Wednesday at 18:00 UTC 
 - [Join Link](https://meet.google.com/nio-jrqq-guu) | **Governance Communications** - [date=2022-11-11 time=19:00:00 timezone="UTC"]

---
## ⚓ **Resources** <!-- Artem -->

<details><summary>Open List</summary><br>

▸ [All Available Dashboards](https://forum.makerdao.com/t/all-available-dashboards/16104)
▸ [All Available Guides](https://forum.makerdao.com/t/all-available-guides/16159) | [Google Sheet](https://docs.google.com/spreadsheets/d/1cb9x9r_MPDHqAzUGTxdECzzismFbnV-IwaWUMDeIAPY/edit#gid=0)
▸ [Calls Calendar](https://forum.makerdao.com/t/the-calls-calendar/16095)
▸ [Core Units](https://forum.makerdao.com/c/core-units/31)
▸ [Delegates](https://vote.makerdao.com/delegates)
▸ [Forum](https://forum.makerdao.com) and [Maker Discord](https://discord.gg/YtBXXYuVDB)
▸ [Forum Explorer](https://forum.makerdao.com/explorer)
▸ [Forum discussions - Governance Dashboard](https://www.makerdao-governance-dashboard.com/tracker/forum-discussions)   
▸ [Governance Dashboard Tracker](https://www.makerdao-governance-dashboard.com/tracker) | [Google Sheet Version](https://docs.google.com/spreadsheets/d/1LWNlv6hr8oXebk8rvXZBPRVDjN-3OrzI0IgLwBVk0vM/edit#gid=0)  
▸ [Guides](https://forum.makerdao.com/c/resources/guides/72)
▸ [Job Opportunities](https://forum.makerdao.com/c/resources/job-opportunities/11)
▸ [Learning Portal](https://community-development.makerdao.com/en/learn/) and [Technical Documentation](https://docs.makerdao.com/)
▸ [MakerBurn](https://makerburn.com/#/rundown)
▸ [MakerDAO’s Discord Servers](https://forum.makerdao.com/t/makerdaos-discord-servers/16110)
▸ [Office Hours List](https://forum.makerdao.com/t/office-hours-list/16162)
▸ [Participation Tools](https://community-development.makerdao.com/en/learn/governance/participate)
▸ [Votes and Important Dates Calendar](https://forum.makerdao.com/t/the-votes-and-important-dates-calendar/16096)

</details></br>

### 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>