---
# System prepended metadata

title: Weekly Relay | November 5 - 14 2022
tags: [Weekly Relay]

---

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tags: Weekly Relay
---

# Weekly Relay | November 5 - 14 2022

![](https://i.imgur.com/OcUgcKW.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**

In the 1940s, Maj. Edward J. Murphy led the US Air Force's team for developmental engineering. Given that his team worked at the intersection between theory and practice, they frequently faced unexpected results.

As they continued to break new ground, they found that all the tried-and-tested models to ensure precision could have been more effective. Instead, they relied on initiative and intuition.

*From this team came Murphy's Law, which states that whatever can go wrong will.*

Crypto operates in a similar space. No models define correctness, and no compass offers guidance, so when things go wrong - they often go wrong in unexpected ways. 

The need for continued, focused engagement and innovation has never been clearer in this unforgiving environment. Fortunately, this week saw numerous efforts to define Maker's path and position better. 

### [**Discussion on Enabling the DSR**](https://forum.makerdao.com/t/discussion-on-enabling-the-dsr/18759)

@SebVentures, in tandem with the [**MakerDAO Open Market Committee (MOMC)**](https://forum.makerdao.com/t/parameter-proposal-group-makerdao-open-market-committee/7355), proposes an increase to the DAI Savings Rate (DSR). 

<small>**Summary of motivations**</small>

> "Given that [**MIP65**](https://forum.makerdao.com/t/mip65-monetalis-clydesdale-liquid-bond-strategy-execution/13148), the [**GUSD partnership**](https://forum.makerdao.com/t/gusd-makerdao-partnership-announcement/18140), and soon [**MIP81**](https://forum.makerdao.com/t/mip81-coinbase-usdc-institutional-rewards/17703) will give us access to TradFi safe yield or rewards, we have all the tools to generate sustainable revenues at scale."

This proposal comes as a double-edged sword of sorts. A DSR increase improves DAI's utility but comes at a high up-front cost to the DAO. 

* Per Seb, in TradFi, the "risk-free" benchmark currently stands at 3.8%. 
* The Coinbase deal offers 1.5%, but its custodial nature has caused significant friction
* As it currently stands, DAI offers a meager 0.01%.

<small>**Summary of the opportunity**</small>

Both Compound and Aave have an in-built DSR integration currently left inactive. Assuming a 2% DSR, the lending rate on Compound would move from 1.2% to 2.25% - over double USDC's current rate.

The team feels this incentivizes USDC holders to migrate to DAI, improving its positioning on leading lending engines. 

Further, the DAO could bolster its DEX liquidity through CHAI (an ERC-20 token built atop the DSR), which could be paired with stable-ETH LPs. 

### [**Urgent Collateral Parameter Changes!**](https://forum.makerdao.com/t/urgent-signal-request-urgent-recommended-collateral-parameter-changes/18764)

In light of the recent market drawbacks, @Primoz posted an Urgent Signal seeking community sentiment on several parameter changes.

<small>If passed, the following alterations would be enacted:</small>

* *Decrease* MATIC-A Debt Ceiling from current 20M to 10M
* *Decrease* LINK-A Debt Ceiling from current 25M to 5M
* *Decrease* YFI-A Debt Ceiling from current 10M to 3M
* *Decrease* renBTC-A Debt Ceiling from current 10M to 0 

Of these assets, renBTC has the highest "tail risk asset" due to uncertainties surrounding its post-FTX market positioning. 

The Signal also aims to proceed with the [**proposed MANA parameter changes**](https://forum.makerdao.com/t/mana-a-intermediate-parameter-change-proposal/18727) despite [**action from the borrower**](https://maker.blockanalitica.com/wallets/mana-whale/).

<small>If passed, MANA's parameters would be adjusted as follows:</small>

* Decrease Debt Ceiling to 3M from the current 10M (pending current executive vote execution)
* Significantly increase SF to 50% from the current 7.5% (pending current executive vote execution)
* Increase liquidation penalty to 30% from the current 13%

The Signal concluded with a **75% 'Yes' vote**, and thus, **will be included in an out-of-schedule Executive**.

The full thread can be found [**here**](https://forum.makerdao.com/t/urgent-signal-request-urgent-recommended-collateral-parameter-changes/18764).

### Defender Contract Against Governance Attacks

[MIP91: Defender Contract Against Governance Attacks](https://forum.makerdao.com/t/mip91-defender-contract-against-governance-attacks/18534), proposed by the GovAlpha Core Unit, is aimed to become an additional smart contract tool in our governance system that will help MKR holders defend against potential malicious attacks.

*Key points:*
![](https://i.imgur.com/ChECq18.png)

Check out the rest of the discussion about this proposal on last week's Governance & Risk call [here.](https://www.youtube.com/watch?v=GutK5dsJklI&t=600s)

### Modify Emulated Surplus Buffer Limit

[MIP84c10-SP1: Modify Emulated Surplus Buffer Limit](https://forum.makerdao.com/t/mip84c10-sp1-modify-emulated-surplus-buffer-upper-limit/18315), proposed by psychonaut, Core Unit Facilitator of Immunefy Security, in effort to move forward on [Protocol Owned Vault Emulation](https://forum.makerdao.com/t/mip84-activate-protocol-owned-vault-emulation/17713) (POVE) of the Endgame Plan. The MIP proposes to set the new Emulated Surplus Buffer Upper Limit parameter to 1B, which will be way above the size of the surplus buffer. 

*Key points:*
![](https://i.imgur.com/rAC3lUo.png)

Check out the rest of the discussion about this proposal on last week's Governance & Risk call [here.](https://www.youtube.com/watch?v=GutK5dsJklI&t=2548s)

---    
## 📢 Shout-outs!

### [Defining the Crimson Creator Cluster with Hexonaut](https://forum.makerdao.com/t/defining-the-crimson-creator-cluster-with-hexonaut-on-drinks-w-makerdao-delegates/18773)

https://www.youtube.com/watch?v=-539XL2H0l8

In this episode of Drinks with MakerDAO Delegates, we have RDs Frank Cruz (as 3FD), Raphael Spannocchi (as Flipside), Tim Schuppener (as ultraschuppi), and Sam, who is a member of the PE Core Unit as well as future [Crimson Cluster](https://forum.makerdao.com/t/crimson-creator-cluster/18241) Facilitator.

Together, they dig deeper into the working and efforts of the Crimson Cluster, Endgame as a whole, and how to move forward during this current Crypto Winter :snowflake: 

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

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

### Last Week's Calls
    
- **Decentralized Voter Committee** - [_Canceled_](https://discord.com/channels/989243994288566303/989243994984808480/1039952914564780092)
    - DVCs will be back on their usual schedule on [date=2022-11-23 time=19:00:00 timezone="UTC"]  
- **MakerDAO Governance & Risk Meeting #215**
    - [Video](https://youtu.be/GutK5dsJklI) / [Forum](https://forum.makerdao.com/t/governance-and-risk-215-thursday-november-10-at-17-00-utc/18728) / [Forum Recap](https://youtu.be/LGAb447_PXc) / [Slides](https://docs.google.com/presentation/d/1UgpmbKxHAJqSNk1eNCzDkmshsNM93_VAq-AlRRnCQGE/edit#slide=id.g154a9f5bfc9_0_13)
    - _Defender Contract Against Governance Attacks:_ Davidutro and AstronautThis presented us with an overview on [MIP91](https://forum.makerdao.com/t/mip91-defender-contract-against-governance-attacks/18534), designed as a tool capable of canceling a--malicious, as deemed by the community--passed Executive Vote within the GSM Pause Delay, putting it back on the voting stage while avoiding the risk of losing MKR.
    - _Modify Emulated Surplus Buffer Upper Limit:_  Davidutro and psychonaut helped us wrap our minds around [MIP84c10-SP1's](https://forum.makerdao.com/t/mip84c10-sp1-modify-emulated-surplus-buffer-upper-limit/18315)--part of the [Endgame pre-launch MIPs](https://forum.makerdao.com/tag/endgame-prelaunch-mip-set)--scope: purchasing or selling stETH among other--undefined at the moment--collaterals with DAI from the Surplus Buffer, as well as minting DAI utilizing the Surplus Buffer as collateral.
    
    
### Upcoming Calls

- **Delegate Office Hours** - [date=2022-11-17 time=16:00:00 timezone="UTC"]
    - [Join Link](https://us02web.zoom.us/j/88920093364) 
- **MakerDAO Governance & Risk Meeting #216** - [date=2022-11-17 time=17:00:00 timezone="UTC"]
    - [Join Link](https://zoom.us/j/697074715)
- **Decentralized Voter Committee** - [date=2022-11-23 time=19:00:00 timezone="UTC"]
    - [Join Link](https://us02web.zoom.us/j/89326394914)
    
---
### **Core Unit Office Hours**

- [Join Link](https://us02web.zoom.us/j/82603350722?pwd=RThleVo5QlBRT1FuOWxiRCs3K0k2Zz09) | **GovAlpha Governance Q&As** - [date=2022-11-14 time=17:00:00 timezone="UTC"]
 - [Join Link](https://makerdao.bigbluemeeting.com/adm-eox-jtz-tsi) | **Immunefi Security** - [date=2022-11-14 time=00:00:00 timezone="UTC"]
 - [Join Link](https://us02web.zoom.us/j/85252786103?pwd=bEZaZXdEcGlSWWd5bmpxMDBvVjdEUT09) | **Sustainable Ecosystem Scaling** - [date=2022-11-15 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=2022-11-15 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=2022-11-18 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>