--- tags: Weekly Relay --- # Weekly Relay: January 10, 2022 ![](https://i.imgur.com/KJishgh.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._ 🍵 Current Events 🗳️ This Week in Governance 🤿 Community Deep Dai-ve 📆 Mark your Calendar ⚓ Useful Links 🎙️ Have Feedback? ## 🍵 Current Events ### Volatility in markets ramps up liquidations The recent drop in the cryptocurrency market has left several vaults undercollateralized, kicking off dozens of liquidations over the last two weeks. To participate in auctions, check out MakerDAO's [Auction Portal](https://auctions.makerdao.network/) from the SideStream Auction Services Core Unit, and please see [MakerBurn](https://makerburn.com/#/liquidations) for more information on individual auctions. ### New Silver shares bright outlook for 2022 @prankstr25 [recently posted](https://forum.makerdao.com/t/new-silver-december-2021-update-and-2022-outlook/12536) an update from New Silver on their efforts to onboard Real-World Assets to the Maker Protocol. In December, New Silver received 247 applications and closed on 16 loans. Those loans represent $3.7 million in volume at an average interest rate of 8.7% over 12 months. New Silver's debt ceiling stands at 20 million Dai, of which 10.7 million has been used. ### 21 new polls up for vote! Twenty-one new polls are going up for a vote this week. Five of the polls end on January 13, and the other sixteen last until January 24. The polls cover a wide variety of proposals, including Community Greenlight polls for new collateral types, Ratification polls for new Core Units, and changes to a variety of system parameters. Please head over to MakerDAO's [Voting Portal](https://vote.makerdao.com/) to read the polls and cast your vote. ### Discussion on the use of stablecoin treasury resurfaces with new proposals @GWintery starts a new discussion on [Utilizing USDC in the PSM]() just days after @GFXlabs published a pair of proposals to onboard US Treasuries as collateral ([12-months](https://forum.makerdao.com/t/mip6-collateral-onboarding-application-stable-us-treasury-securities-up-to-12-months-duration/12503) and [2-10 years](https://forum.makerdao.com/t/mip6-collateral-onboarding-application-stable-us-treasury-securities-between-2-and-10-years-duration/12505/2)). MakerDAO currently holds over 3.5 billion USDC, 499 million USDP, and 4.9 million GUSD in reserve, thanks to MakerDAO's Peg Stability Modules (PSM). @GWintery's discussion brings up several ways the funds could be used, while the proposal from @GFXlabs would use the funds to purchase US Treasury obligations. ## 🗳️ This Week in Governance ### MIPs [Weekly MIPs Update #69](https://forum.makerdao.com/t/weekly-mips-update-69/12543) ![](https://i.imgur.com/Gv9PGJC.png) :calendar: — RFC and FS Dates for reference and for existing proposals can be seen [here.](https://docs.google.com/spreadsheets/d/10qxaRjm9T5LCgnYwwYqPqEjKu9yl2F1YHqdDD5SktJc/edit?usp=sharing) - Ratification polls for the January Governance Cycle are now entering the first week of the voting. These are the elegible proposals for January: ### Active Executive Votes There is currently no active executive vote. The next executive vote will go live Friday, January 14, 2022. ### Active Governance Polls | Poll Name | Vote | Discussion | | :-------- | :--: | :--------: | | Prioritize Onboarding a Compound DAI Direct Deposit Module (D3M) | [Vote](https://vote.makerdao.com/polling/QmWNkNpQ?network=mainnet#poll-detail) | [Discussion](https://forum.makerdao.com/t/signal-request-should-maker-prioritize-onboarding-a-compound-d3m/11997) | | Raise the Emergency Shutdown Module (ESM) Threshold | [Vote](https://vote.makerdao.com/polling/QmQSVmrh?network=mainnet) | [Discussion](https://forum.makerdao.com/t/signal-request-raise-threshold-for-emergency-shutdown-module/12208) | | Prioritize DAI Direct Deposit Module (D3M) for Maple Finance | [Vote](https://vote.makerdao.com/polling/Qmc4VFHx?network=mainnet) | [Discussion](https://forum.makerdao.com/t/signal-request-maker-accessing-pools-of-institutional-loans-through-maple-finance/12349) | | Increase the Dust Parameter for Select LP Token Vaults | [Vote](https://vote.makerdao.com/polling/QmUSfhmF?network=mainnet) | [Discussion](https://forum.makerdao.com/t/signal-request-adjusting-dust-parameter-lp-token-vaults-2021-5/12313) | | Proposal - Recover DAI Locked in Optimism Escrow | [Vote](https://vote.makerdao.com/polling/Qmcfb72e?network=mainnet#poll-detail) | [Discussion](https://forum.makerdao.com/t/signal-request-should-makerdao-assist-in-recovering-dai-locked-on-optimism-escrow/12307) | #### Ratification Polls | Poll Name | Vote | Discussion | | :-------- | :--: | :--------: | | Collateral Offboarding Process (MIP62) | [Vote](https://vote.makerdao.com/polling/QmdwoZtA?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip62-collateral-offboarding-process/12029) | | Bug Bounty Program for MakerDAO Critical Infrastructure (MIP64) | [Vote](https://vote.makerdao.com/polling/QmWkPoVv?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip64-bug-bounty-program-for-makerdao-critical-infrastructure/12096) | | Maker Keeper Network (MIP63) | [Vote](https://vote.makerdao.com/polling/QmQqFpjv?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip63-maker-keeper-network/12091) | | Offboarding Content Production Core Unit | [Vote](https://vote.makerdao.com/polling/QmYk1XN5?network=mainnet#poll-detail) | [Discussion](https://forum.makerdao.com/t/mip41c5-sp3-facilitator-offboarding-mkt-001/12058) | | Facilitator Onboarding for RWF-001 | [Vote](https://vote.makerdao.com/polling/QmdrJGxQ?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip41c4-sp27-facilitator-onboarding-rwf-001/11308) | | Onboarding Tech-Ops Core Unit (TECH-001) | [Vote](https://vote.makerdao.com/polling/QmZEeWAC?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip39c2-sp29-adding-techops-core-unit-tech-001/12070) | | Onboarding Strategic Finance Core Unit (SF-001) | [Vote](https://vote.makerdao.com/polling/QmZn66qt?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip39c2-sp27-adding-strategic-finance-core-unit/11938) | | Development & UX Core Unit Budget - DUX-001 | [Vote](https://vote.makerdao.com/polling/QmUnMZKw?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp52-development-ux-core-unit-budget-dux-001/12085) | | Core Unit Budget, SNE-001 | [Vote](https://vote.makerdao.com/polling/QmPBwinN?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp47-core-unit-budget-sne-001-phase-ii-starknet-fast-withdrawal-and-wormhole/12041) | | Modify Core Unit Budget, ORA-001 (Oracle Gas Costs) | [Vote](https://vote.makerdao.com/polling/QmRT9363?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp45-modify-core-unit-budget-ora-001-oracle-gas-costs/11621) | | Modify Core Unit Budget - Sustainable Ecosystem Scaling (SES-001) | [Vote](https://vote.makerdao.com/polling/QmQrVVgi?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp55-modify-core-unit-budget-sustainable-ecosystem-scaling-ses-001/12097) | ### Community Greenlight Polls | Collateral | MIP9 Poll | MIP6 Application | | :--------- | :-------: | :--------------: | | OGN (Origin Protocol) | [Ends 1/24 4PM UTC](https://vote.makerdao.com/polling/QmVwzRdM?network=mainnet) | [Application](https://forum.makerdao.com/t/12205) | | OUSD (Origin Dollar) | [Ends 1/24 4PM UTC](https://vote.makerdao.com/polling/QmcWD91Z?network=mainnet) | [Application](https://forum.makerdao.com/t/12205) | | RBLD (Robinland Holdings) | [Ends 1/24 4PM UTC](https://vote.makerdao.com/polling/Qmc8kAfZ?network=mainnet) | [Application](https://forum.makerdao.com/t/rbld-mip6-collateral-onboarding-application-real-estate-new/11911) | | TUSD-PSM (TrueUSD) | [Ends 1/24 4PM UTC](https://vote.makerdao.com/polling/QmVwiLKC?network=mainnet) | [Application](https://forum.makerdao.com/t/tusd-mip6-collateral-onboarding-application/12192) | | USDap (BondAppetit) | [Ends 1/24 4PM UTC](https://vote.makerdao.com/polling/QmZDJZdL?network=mainnet) | [Application](https://forum.makerdao.com/t/bondappetit-proposal-to-create-a-standard-vault-with-a-collateral-ratio-of-100-and-a-stability-fee-of-3/11894) | _Check out an ‘at-a-glance’ view of the current Vault types and their parameters on [MakerBurn](https://makerburn.com/#/rundown)_ ### Active Signal Requests There are currently no active signal requests. - There are, however, five signal requests that are currently on-chain as active governance polls mentioned above: - [Adjusting Dust Parameter - LP Token Vaults](https://forum.makerdao.com/t/signal-request-adjusting-dust-parameter-lp-token-vaults-2021-5/12313) - [Maker Accessing Pools of Institutional Loans Through Maple Finance](https://forum.makerdao.com/t/signal-request-maker-accessing-pools-of-institutional-loans-through-maple-finance/12349) - [Should MakerDAO Assist in recovering DAI locked on Optimism Escrow?](https://forum.makerdao.com/t/signal-request-should-makerdao-assist-in-recovering-dai-locked-on-optimism-escrow/12307) - [Raise Threshold For Emergency Shutdown Module](https://forum.makerdao.com/t/signal-request-raise-threshold-for-emergency-shutdown-module/12208) - [Should Maker Prioritize Onboarding A Compound D3M?](https://forum.makerdao.com/t/signal-request-should-maker-prioritize-onboarding-a-compound-d3m/11997) ## 🤿 Community Deep Dai-ve ### Tweet of the Week https://twitter.com/SebVentures/status/1479406520622272516 ### Forum Insight - [Research-Driven Insights About DAO Governance](https://forum.makerdao.com/t/research-driven-insights-about-dao-governance/12471) - *@Andrew_Hall provides a detailed breakdown of the current governance model and research-backed solutions for improvement.* - [Multi-chain DAI-lights - 6 de Enero de 2022](https://forum.makerdao.com/t/multi-chain-dai-lights-6-de-enero-de-2022/12533) - *Multi-Chain Dai-lights has come to the Latin American subforum!* _[Check out the latest Forum at a Glance](https://forum.makerdao.com/tag/forum-at-a-glance)_ ### Articles - [DAI co-founder brands UST and MMT ‘Solid Ponzis’ that will collapse](https://www.cryptopolitan.com/dai-co-founder-brands-ust-mmt-solid-ponzis/) - *Algorithmic stablecoin proponents were seemingly unamused.* https://twitter.com/VitalikButerin/status/1479501366192132099?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1479501366192132099%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fthegoaspotlight.com%2F2022%2F01%2F08%2Fvitalik-buterin-disapproves-of-cross-chain-applications%2F ## 📆 Meetings and Events ### Last Week’s Call Recordings - Governance and Risk Call #173 - [Video](https://www.youtube.com/watch?v=g3BVhDc_dK0) | [Summary (coming soon!)](https://forum.makerdao.com/t/governance-and-risk-173-thursday-january-06-17-00-utc/12480/3) ### This Week’s Calls #### Governance & Risk - [Join Link](https://zoom.us/j/697074715) | [Agenda](https://forum.makerdao.com/c/governance/gnr/8) - Thursdays at 16:00 UTC #### Core Unit Office Hours - [Join Link](https://us02web.zoom.us/j/82603350722?pwd=RThleVo5QlBRT1FuOWxiRCs3K0k2Zz09) | GovAlpha - Mondays 17:00 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 - Tuesdays 15:00 UTC - [Join Link](https://us02web.zoom.us/j/7091120339?pwd=ek9XQWV0c0FJSCt2MHcwWmpWYkd3UT09) | Content Production - Wednesdays 15:30 UTC - [Join Link](https://meet.google.com/sap-nttu-xga) | Growth - Wednesdays 17:00 UTC - [Join Link](https://us02web.zoom.us/j/85252786103?pwd=bEZaZXdEcGlSWWd5bmpxMDBvVjdEUT09) | Sustainable Ecosystem Scaling - Tuesdays 15:30 UTC - [Join Link](https://meet.google.com/nio-jrqq-guu) | Governance Communications - Fridays 18:00 UTC ## ⚓ Useful Links [Forum](https://forum.makerdao.com) and [Maker Chat](https://chat.makerdao.com) Discuss and debate MakerDAO. [Public Call Calender](https://calendar.google.com/calendar/u/0?cid=bWFrZXJkYW8uY29tXzNlZmhtMmdoaXBrc2VnbDAwOWt0bmlvbWRrQGdyb3VwLmNhbGVuZGFyLmdvb2dsZS5jb20) | [Public Votes & Event Calendar](https://calendar.google.com/calendar/embed?src=bdf4un05hpg0611lg3ieue4t3c%40group.calendar.google.com&ctz=America%2FNew_York) Subscribe to both for all public calls, votes, and other reminders. [Participation Tools](https://community-development.makerdao.com/en/learn/governance/participate) Library of useful links for Stakeholders; Protocol analytics, Dai analytics, collateral & liquidation metrics, governance history, and auctions data. [Governance Portal](https://makerdao.com/en/governance) Voting dashboard for MKR voters. [MIPs Portal](https://mips.makerdao.com/mips/list) MIPs Dashboard for everyone. [Learning Portal](https://community-development.makerdao.com/en/learn/) and [Technical Documentation](https://docs.makerdao.com/) Learn more about the Maker protocol. ### 🎙️ Have Feedback? We value your input! Take our [survey](https://survey.sogosurvey.com/r/OBV0Y7) to let us know what we might be missing or how to do better. *Disclaimer: This update is assembled by a group of contributing members in the MakerDAO community. This does not serve as financial advice or an inducement to vote in any specific way. This update is purely for information and communication purposes only.*