--- tags: Forum at a Glance --- # Forum at a Glance | June 30 - July 6, 2022 ![](https://i.imgur.com/KJHvT1P.png) Welcome to the one-stop-shop for a TL;DR on 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.* ###### Online PDF Version available [here.](https://pdfhost.io/v/cGYtZ4OOk_Forum_at_a_Glance_June_30_July_6_2022) Authors: @nothsa, @alec, and @artem_gordon --- ## Three-Point Summary ‘What is the most relevant information on the forums this week for MKR and Dai holders?’ **1.** @AstronautThis's [calculations](https://forum.makerdao.com/t/informal-poll-disable-the-emergency-shutdown-module/16292) show that the current Emergency Shutdown Module (ESM) Threshold is safe, but the community may want to consider disabling the ESM anyway. **2.** The Risk Core Unit has [announced](https://forum.makerdao.com/t/announcing-maker-risk-dashboard-v3/16335) v3 of the Maker Risk Dashboard, adding support for Vault type, PSM, D3M, oracle, liquidation, and whale data. **3.** Tickets for the Daivinity party at EthCC in Paris are available. Reserve yours [here](https://forum.makerdao.com/t/daivinity-ethcc-paris-tickets/16278)! --- ## News and Announcements > **[Announcing Maker Risk Dashboard v3](https://forum.makerdao.com/t/announcing-maker-risk-dashboard-v3/16335)** The Risk Core Unit recently made a [post](https://forum.makerdao.com/t/announcing-maker-risk-dashboard-v3/16335) announcing v3 of the Maker Risk Dashboard. In addition to a new design, new pages for [Vault type](https://maker.blockanalitica.com/vault-types/), [PSM](https://maker.blockanalitica.com/psms/), [D3M](https://maker.blockanalitica.com/d3m/), [oracle](https://maker.blockanalitica.com/oracles/), [liquidation](https://maker.blockanalitica.com/liquidations/), and [whale](https://maker.blockanalitica.com/whales/) data have been created. ![](https://i.imgur.com/7Pvq2rd.png) For this third iteration, the team has: * Redesigned the website to provide a better and more accessible user experience * Abstracted data, concepts, and models to reduce complexity and simplify the dashboard * Added new features to provide access to data not previously available in v2 > **[DAIvinity EthCC Paris Tickets](https://forum.makerdao.com/t/daivinity-ethcc-paris-tickets/16278)** If you're planning to attend the [Daivinity](https://twitter.com/Daivinity) party at this year's [EthCC](https://ethcc.io/), message @Leggevents on the forum or comment [in this thread](https://forum.makerdao.com/t/daivinity-ethcc-paris-tickets/16278) to be allocated a pre-release code. The event will take place at Bridge Club in Paris on July 19th with doors opening at 21:00. https://twitter.com/Daivinity/status/1544741426264784898?cxt=HHwWhIC-5ZGJg_AqAAAA > **[Meet Your Delegate #16 - pvl](https://forum.makerdao.com/t/meet-your-delegate-16-pvl/16206)** @pvl will be presenting their Delegate [platform](https://forum.makerdao.com/t/pvl-delegate-platform/16022) and hosting an AMA on July 7th at 3 pm UTC. Among other things, @pvl hopes to help Maker integrate the following as DAO practices: * Web3-native intelligence for protocol stewardship, collateral onboarding, and treasury management * Provably optimal infrastructure funding mechanisms * Web3-native community support tools [Zoom Link](https://us02web.zoom.us/j/89695990453?pwd=izoTjb5jrCAAOrug8GuQdb_Gofa26F.1) Meeting ID: 896 9599 0453 Passcode: 838320 > **[Meet the Dai Foundation Board during EthCC](https://forum.makerdao.com/t/meet-the-dai-foundation-board-during-ethcc-5/16290)** The Dai Foundation board will be hosting an in-person community meeting during this year's [EthCC](https://ethcc.io/) for anyone interested in learning more about the Dai Foundation. ![](https://i.imgur.com/8tzviwt.png) Unfortunately, [tickets](https://forum.makerdao.com/t/call-for-interest-in-becoming-a-dai-foundation-board-member/15651) are currently sold out. > **[MakerDAO Actual Expenses vs Budget - May 2022](https://forum.makerdao.com/t/makerdao-actual-expenses-vs-budget-may-2022/16365)** @adcv of the Strategic Finance Core Unit posted the May update for monthly Core Unit expenses and a forecast for the subsequent three months. In summary: * DAI expenses were up to 3.2M in May, 0.6M lower than forecasted. Forecasted expenses are expected to stabilize to around 3.7M/month by June, a 44M annual run-rate. * Oracle gas expenses continue to trend lower due to decreased network congestion, as well as OCU's work to minimize them. ![](https://i.imgur.com/gWQJtky.png) ![](https://i.imgur.com/dkEt7iH.png) > **[MIP41c4-SPxx: Immunefi Security Core Unit Facilitator Onboarding - IS-001](https://forum.makerdao.com/t/mip41c4-spxx-immunefi-security-core-unit-facilitator-onboarding-is-001/16348)** @psychonaut has been added as a co-Facilitator for Core Unit IS-001: Immunefi Security. In his own words, @psychonaut explains: "I have worked as Deputy Facilitator for Immunefi Security since its inception on Dec 2021 and, during part of its incubation period under SES, two months prior (Oct and Nov 2021). I have taken charge of the accounting, written status updates, and contributed to our core unit’s goals. Our current Facilitator, @travinimmunefi, continues to lead with long-term strategic planning but is stretched thin by his many other responsibilities. This MIP formalizes what is essentially already the status quo." > **[Guidance on how to specify Copyright in software produced for MakerDAO](https://forum.makerdao.com/t/guidance-on-how-to-specify-copyright-in-software-produced-for-makerdao/16367)** A new document outlining how to attribute copyright for MakerDAO software is available [here](https://github.com/daifoundation/docs/blob/master/COPYRIGHT-GUIDANCE.md). The document covers how to assign copyright to the Dai Foundation, the guardian of MakerDAO’s intangible assets, and how to ensure copyright information is visible on GitHub. --- ## Active Discussions > **[[Informal poll] Disable the Emergency Shutdown Module](https://forum.makerdao.com/t/informal-poll-disable-the-emergency-shutdown-module/16292)** The Emergency Shutdown Module (ESM) enables a minority of MKR holders to shut down the protocol by depositing enough MKR to reach the ESM Threshold, currently set at 150,000 MKR. In a possible attack vector opened up by this mechanism, an attacker could short the MKR token, trigger the ESM, and close their position once the MKR price drops. The ESM Threshold should be set so this attack would be unprofitable. Using a series of [calculations](https://docs.google.com/spreadsheets/d/15UEqcu0qaBoP-B-KNsPU9xOU_S1f1kllnAGkWPGC69I/edit?usp=sharing), post author @AstronautThis demonstrates that given the amount of MKR available for borrowing on other protocols (among other methodological assumptions outlined in the full post), the current ESM Threshold is high enough to make such an attack unprofitable. Given that: 1. There is currently no consensus surrounding the situations that would merit triggering the ESM, and 2. in a crisis, MKR holders are more likely to sell their MKR than deposit it in the ESM to be burned, it may be worth considering the question of whether we need an ESM at all. Should the ESM be disabled by community consent? If the protocol did need to be shut down, it would be subject to the GSM Pause Delay, currently set to 48 hours. > **[Questions for Core Units about intangible assets - for review and comment](https://forum.makerdao.com/t/questions-for-core-units-about-intangible-assets-for-review-and-comment/16334)** @sorenpeter of the Dai Foundation made a post compiling a list of budget- and ownership-related questions for the community to ask when a Core Unit MIP has been posted as an RFC. The goal is "to ensure that there is focus on avoiding that single operators can control important MakerDAO assets and communication channels." Some of the questions include: * Have you acquainted yourself with the Dai & Maker Trademark Policy, so you know how to utilize the Dai, Maker, and MakerDAO names and logos? * Which types of tangible and intangible assets will you produce with the funding from MakerDAO? * Will the assets produced using MakerDAO funding be available as public goods for the whole DAO? > **[[Vault-Discussion] NonSC Crypto-Backed Loan Optionality](https://forum.makerdao.com/t/vault-discussion-nonsc-crypto-backed-loan-optionality/16312)** Continuing the ongoing discussion surrounding the PSM and its collateral, @TRUEMAKER made a post and informal poll to center dialogue around finding an optimal balance between on-chain and off-chain collateral. @TRUEMAKER proposes shifting focus to ETH-based vaults to increase the volume of non-USDC-backed assets, thereby lowering the percentage of USDC-backed assets. In particular, they propose introducing a "vault-holder optionality" feature that would give users a one-time annual option to transition between same-currency vaults, which differ in collateralization requirements and stability fees. ![](https://i.imgur.com/GFdLNwS.png) **Potential Benefits** - A higher ratio of DAI generated from ETH/BTC; less reliance on USDC/RWA - Increased vault duration and retention - Pricing optimizations that include a more defined range between ETH-based vault types - Align pricing with evolving market conditions in a formulaic way - A better customer experience leads to longer-term and/or higher-use customers - Incentivizes new vault creation - Reduction in loan defaults of bad debt **Potential Risks** - Temporary stability fee reduction - Lower liquidation fees - Coding execution leading to faulty migration > **[End-Game Summary - Part 3](https://forum.makerdao.com/t/end-game-summary-part-3/16245)** To aid his understanding and increase the accessibility of the ideas for everyone, @LongForWisdom posted a summary of [Part 3](https://forum.makerdao.com/t/end-game-summary-part-3/16245) of @rune's Endgame Plan. The structured, bullet-pointed summary: * Stresses the simplicity of the process * Points out budget challenges as the primary area of concern * Highlights the need for best practices to achieve a general separation of powers * MetaDAOs may be the best way to compartmentalize this risk * Introduces ideas around DAO2DAO operations * Under this model, CUs would no longer be companies or groups hired directly by Governance, but as a service provided by MetaDAO's to Maker. Follow @LongForWisdom's [Endgame Index List](https://forum.makerdao.com/t/endgame-index-list/16021) for a listing of Endgame-related posts and @LongForWisdom's summaries. > **[Proposal of END Capital to be Attestor for Bank Participation Vaults](https://forum.makerdao.com/t/proposal-of-end-capital-to-be-attestor-for-bank-participation-vaults/16239)** END Capital has expressed interest in becoming an "Attestor" for Maker, dealing with underwriting responsibilities and fiat on and off-ramps for DAI. In their own words: "Our END Capital team has over 40 years of combined experience originating, underwriting, and investing in asset-backed loan portfolios in aggregate totaling in excess of 500 million transactions." > **[Unified DAO toolkit: Making transparency easy](https://forum.makerdao.com/t/unified-dao-toolkit-making-transparency-easy/16210)** In this post, @rune argues that we should have "maximum reasonable transparency" regarding the work Core Units are engaged in. All significant work interactions between independent Core Units must be publicly and thoroughly documented according to standardized procedures. @rune proposes a "unified DAO toolkit" to achieve this level of transparency. This kit would comprise a software tool used for workflow tracking, similar to Jira or Trello, and a wiki-like governance information dashboard. These two components combine governance and operations under a single system and allow for built-in transparency for "free." --- ## Seeking Consensus ‘Yo, do you even signal?’ Surprisingly, there are no active signal requests at the time! ----- ## Ongoing Initiatives ‘Oh my god, this is taking ages; why can’t things be simple?’ [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. [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.* [:mega: Collateral Calls - Calling all Projects!](https://forum.makerdao.com/t/collateral-calls-calling-all-projects/3715) - @juan sets up a signup thread for projects wishing to present on the bi-weekly collateral call. Know any potential collateral partners that want to present? Refer them here. [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) - @blimpa 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 (update, ask community for any help wanted) ‘Oh %#\$?, we need a doodad, and we need it now.’ > We could always use help reviewing [MIPs in the Request for Comment phase](https://forum.makerdao.com/tag/rfc). > [Calling All Lawyers! Would You Like To Help Contribute?](https://forum.makerdao.com/t/calling-all-lawyers-would-you-like-to-help-contribute/15699) --- ### Feedback Survey (update to new survey) *Please, check out the [Forum at a Glance feedback survey](xxx) to help us improve and scale these reviews - It will be fun, I promise.* Credit: @nothsa and @Artem_Gordon