--- tags: Forum at a Glance --- # Forum at a Glance | November 24 - 30, 2022 ![](https://i.imgur.com/RQlnBbI.jpg) 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/iolpL7Ldb_November_24_30_2022)</small> --- ## Three-Point Summary <small>*‘What is the most relevant information on the forums this week for MKR and Dai holders?’*</small> **1.** LongForWisdom [shared](https://forum.makerdao.com/t/a-better-prioritization-system-for-makerdao/18949) an idea for a new voting system aimed at providing a more consensus-building approach to governance and easing polarization. **2.** Retro has been [officially appointed](https://forum.makerdao.com/t/fallback-interim-facilitator-selection-process-ces-001/18911/31) as the Interim Facilitator of the Collateral Engineering Services Core Unit. **3.** Hexonaut [opened](https://forum.makerdao.com/t/discussion-on-existential-exposure-and-mitigation/18931) the floor for a discussion of existential asset exposure and shared ideas for mitigating large losses. **Forum Recap:** https://www.youtube.com/watch?v=zZwkLq21zGk --- ## :newspaper_roll: Announcements & Updates > [**Moving 30th Nov and 7th Dec Executives to Friday of each week**](https://forum.makerdao.com/t/moving-30th-nov-and-7th-dec-executives-to-friday-of-each-week/18990) PECU and StarkNet are moving the mainnet deployments for the following two executives: - Wednesday November 30th to Friday December 2nd. - Wednesday December 7th to Friday December 9th. Both executive votes for the current and following weeks will take place on Friday rather than Wednesday to ensure that these final executive votes for 2022 can be safely deployed. > [**Retro as Fallback Interim Facilitator for CES**](https://forum.makerdao.com/t/fallback-interim-facilitator-selection-process-ces-001/18911/31) We are pleased to announce that @Retro has been selected to serve as Interim Facilitator of the Collateral Engineering Services Core Unit and will focus on the following immediate actions: - Re-enable and stabilize CES resources and contributors. - Obtain a clear understanding of work requirements, timelines, and deliverables. - Reconfigure CES’s multi-sigs to meet MakerDAO’s best practices, and review operational expenses. - Begin planning for the future state of CES resources. - Define the Interim Facilitator timeline. [**Fortunafi Update - Pipe Technologies**](https://forum.makerdao.com/t/fortunafi-update-pipe-technologies/18950) This post from @Fortunafi rebuts recent rumors about the protocol's exposure to crypto miners. The post reports that Fortunafi has "no exposure to crypto miners whatsoever." [**Attention RENBTC-A Users: Collateral Offboarding**](https://forum.makerdao.com/t/attention-renbtc-a-users-collateral-offboarding/18923) The RENBTC-A vault type is being offboarded. An Executive Vote on Wednesday, December 7th, or later will trigger the final parameter adjustments to complete the offboarding process. [**GovComms Core Unit Budget Rejected**](https://vote.makerdao.com/polling/QmdC5sZw#comments) The GovComms Core Unit—the team behind this publication—had its budget [rejected](https://vote.makerdao.com/polling/QmdC5sZw#vote-breakdown) in a November 22nd vote. The team will continue its core work until officially winding down. Some community members have demonstrated support for a potential merger between GovComms and GovAlpha, and Core Unit Facilitator @Davidutro has [expressed interest](https://forum.makerdao.com/t/the-future-for-govcomms-a-message-encouraging-voters-to-pass-our-current-budget-proposal/18921) in the CU moving into the role of Ecosystem Actor during the Endgame. --- ## :speech_balloon: Active Discussions & Proposals [**MIP4c2-SP30: Amend Interim Facilitator Appointment Process**](https://forum.makerdao.com/t/mip4c2-sp30-amend-interim-facilitator-appointment-process/18951) MIP4c2-SP30 contains a series of amendments addressing two primary issues with the current Interim Facilitator process: * Lack of timely resolution: The Fallback Process that kicks in when the initial process fails takes at least a week, long enough for major issues to arise. * Lack of flexibility: Governance Facilitators cannot modify processes under atypical circumstances. [**A Better Prioritization System for MakerDAO**](https://forum.makerdao.com/t/a-better-prioritization-system-for-makerdao/18949) In this post, @LongForWisdom of the GovAlpha Core Unit presents a voting system—a combination of [positional voting](https://en.wikipedia.org/wiki/Positional_voting) and the [approval voting system](https://en.wikipedia.org/wiki/Approval_voting) currently in place in Maker governance—that will enable individual voters to express more fine-grained preferences than the current approval voting system alone. This system could be used to identify work priorities and in the Endgame to prioritize work on scopes, within DVCs, and within MetaDAOs. GovAlpha hopes this system will promote consensus building and reduce polarization from contentious votes. [**Discussion on Existential Exposure and Mitigation**](https://forum.makerdao.com/t/discussion-on-existential-exposure-and-mitigation/18931) In this post, @hexonaut of the Protocol Engineering Core Unit calls for a discussion to clarify what we mean by "existential exposure"—when does "really bad" single asset exposure become "existentially bad"—and to develop ways of mitigating it. According to hexonaut's proposed definition, we have "existential exposure" when "we take on bad debt to such a degree that DAI permanently loses its peg in an irrecoverable way." Hexonaut's idea for mitigating large losses involves allowing temporary under collateralization and leaving bad debt on the books in the case of a large loss that hits a certain threshold, then filling the gap over time via slow issuance of MKR tokens, debt, or revenue. [**Parameter Changes Proposal - PPG-OMC-001 - 24 November 2022**](https://forum.makerdao.com/t/parameter-changes-proposal-ppg-omc-001-24-november-2022/18925) The latest parameter change proposal from the [MakerDAO Open Market Committee](https://forum.makerdao.com/t/parameter-proposal-group-makerdao-open-market-committee/7355) recommends a series of updates to normalize debt ceiling IAM parameters during the bear market, reducing risk and unnecessary excess capacity. The proposed changes are: * ETH-B: Reduce `line` to 250 million DAI: * Reduces tail risk. * Prevents excessive accumulation of risky debt. * WSTETH-A: Increase `line` to 500 million DAI and reduce `gap` to 15 million DAI: * Allows for further growth. * Reduces maximum exposure to possible Lido tail risks. * WSTETH-B: Increase `line` to 500 million DAI and reduce `gap` to 15 million DAI: * Allows for further growth. * Reduces maximum exposure to possible Lido tail risks. * WBTC-A: Reduce `line` to 500 million DAI, reduce `gap` to 20 million DAI, and increase `ttl` to 24 hours: * Limits excessive exposure growth. * Reduces throughput, helping limit potential losses from Bitgo-related tail risks. * WBTC-B: Reduce `line` to 250 million DAI, reduce `gap` to 10 million DAI, and increase `ttl` to 24 hours: * Limit potential tail risk exposure. * WBTC-C: Reduce `line` to 500 million DAI, reduce `gap` to 20 million DAI, and increase `ttl` to 24 hours: * Reduces total throughput to 50 million DAI per day, which should be enough to meet recent demand levels while significantly reducing Bitgo risk exposure. * LINK-A: Reduce `gap` to 2.5 million DAI: * Existing 7 million DAI gap parameter no longer provides any additional protection. * MANA-A: Reduce `line` to 0 DAI: * Reduces liquidity and market risk. * YFI-A: Reduce `gap` to 1.5 million DAI: * Normalizes the YFI-A gap against the recently lowered line parameter. * Compound v2 D3M: Activate with 2% `bar` and `line` of up to 10 million DAI: * Idiosyncratic risks have increased lending protocols in the past month, and a smaller line of 10 million is more appropriate. * GUNIV3DAIUSDC1-A: Reduce `line `to 100 million DAI: * Prevents further growth. * Helps achieve a decline in exposure while minimizing the UX impacts of potential increases in the Stability Fee. * GUNIV3DAIUSDC2-A: Reduce `line` to 100 million DAI: * Helps realign Maker’s stablecoin positions with current opportunities. * UNIV2DAIUSDC-A: Reduce `line` to 100 million DAI: * Prevents excessive growth. * Helps realign Maker liquidity toward optimal positioning. * PSM-USDP-A: Increase `tin` to 0.1% and reduce `line` to 450 million DAI: * Limits increases in USDP exposure to concentrate Maker’s liquidity position in assets that provide more value to the protocol. * PSM-GUSD-A: Increase `tin` to 0.1% and reduce `tout` to 0.1%: * Disincentivizes further increases in exposure. The post also explores the idea of increasing the DAI Savings Rate to incentivize retention or increase DAI supply. <!-- ## :bar_chart: Research, Reports & Assessments --> --- ## :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)