---
tags: Forum at a Glance
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# Forum at a Glance | June 09 - 15, 2022
Welcome to the one-stop shop for a TL;DR on everything discussed on the MakerDAO forum.
###### Online PDF Version available [here.](https://pdfhost.io/v/IMzxQRkPo_Forum_at_a_Glance_June_9_15_2022)
*Links reflect our views of the most noteworthy activities in the governance, risk, and oracles categories. Disagree? Think something should be added? Leave a reply or send a PM.*
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## Three-Point Summary
‘What is the most relevant information on the forums this week for MKR and Dai holders?’
1. The next [Decentralized Voter Committee](https://forum.makerdao.com/t/decentralized-voter-committees-wednesday-and-thursday-9pm-cest-getting-real-edition/15777), during which @rune will outline Part 4 (MetaDAOs) of his Endgame Plan, will be held this Thursday on [Zoom](https://us02web.zoom.us/j/82286534666).
2. SES has [released](https://forum.makerdao.com/t/introducing-a-budget-reporting-tool-for-core-units/15710) a budget reporting tool to improve transparency at Maker.
3. Recognized Delegate @Juanbug made a [post](https://forum.makerdao.com/t/increasing-mip-efficiency-community-poll/15773) outlining the current state of the MIP proposal timeline and asking the community whether it should be shortened to improve efficiency.
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## News and Announcements
**[Decentralized voter committees: Wednesday and Thursday 9 pm CEST - getting real edition](https://forum.makerdao.com/t/decentralized-voter-committees-wednesday-and-thursday-9pm-cest-getting-real-edition/15777)**
<details><summary>Weekly Decentralized Voter Committees will now take place weekly at 7 PM UTC.</summary><br>
*Wednesday, 7 PM UTC*
This meeting focused on establishing the format of these calls to facilitate MKR holder interaction with the governance process. Topics included:
* A plan for updating the current priorities of Core Units, redirecting them via MKR voting toward the list of Focus Objectives @rune has been posting
* Reducing budgets for some Core Units to rein in spending during the bear market
*[Thursday, 7 PM UTC](https://us02web.zoom.us/j/82286534666)*
During this Committee, @rune will present Part 4 of his Endgame Plan, focused on MetaDAOs. Topics will include:
* The Creator, Governor, and Reformer roles
* The 3 MetaDAO core products:
* The MetaDAO Lending Engine (D3M powered)
* The Decentralized Vault Frontend (stability fee revenue share)
* The Decentralized Workforce Results Guarantee (overhead budget fee)
</details></br>
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**[Updated Growth Task Force Vote (Lite Post-Mortem)](https://forum.makerdao.com/t/updated-growth-task-force-vote-lite-post-mortem/15796)**
In this post, @prose11 outlines why the Growth Task Force MIP (MIP75c3-SP1) was [removed and replaced](https://vote.makerdao.com/polling/Qmbs5Kx5#poll-detail) due to an error made by GovAlpha.
In short, due to a misreading of the requirements of MIP75, the proposal was posted as a standard ratification poll instead of in a Ranked Choice IRV format, as defined by MIP75. MIP75 is currently up for approval, and this was the first MIP75 sub-proposal submitted.
The new vote will end at the original time: Monday, June 27th at 16:00 UTC.
GovAlpha will be updating how they review new MIPs to avoid similar issues in the future.
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**[Introducing a Budget Reporting Tool for Core Units](https://forum.makerdao.com/t/introducing-a-budget-reporting-tool-for-core-units/15710)**
<details><summary>The Sustainable Ecosystem Scaling Core Unit (SES) has developed a custom tool to improve Core Unit budget transparency.</summary><br>
* Reduce informational costs
* Structure data that currently exists in many different formats and locations
* Offer a broad spectrum of detail, from abstracted insights to granular views
The Core Unit Budget Reporting Tool is intended to make it easy for Core Unit Facilitators to ensure that the API supplies all necessary financial data for fostering openness and transparency in the Maker organization.
A video walkthrough of the new tool is available [here](https://youtu.be/RnObGAevwX0).
With many of the core tools in working condition, SES's goal now is to build out a user-friendly UI for the API and dashboard. This will involve:
* Finance data collection and availability through the API
* Finance data availability in the dashboard (at both the CU & DAO levels)
* Initiative and roadmap data availability in the dashboard (at both the CU & DAO levels)
* People data availability in the dashboard (at both the CU & DAO levels)
* Enabling better integration of the five major MakerDAO governance platforms (in collaboration with other core units)
* Voting Portal
* MIPs Portal
* MakerDAO Discourse Forum
* Ecosystem Performance Dashboard
* makerburn.com
</details></br>
---
## Active Discussions
**[[Discussion] Delegate Roles and Incentives](https://forum.makerdao.com/t/discussion-delegate-roles-and-incentives/15788)**
@Eumenes of the Real World Finance Core Unit calls for a Specialized Delegate role, in which delegates focus on their areas of expertise instead of being required to take on a "Jack of all trades" role.
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**[Increasing MIP Efficiency Community Poll](https://forum.makerdao.com/t/increasing-mip-efficiency-community-poll/15773)**
<details><summary>In this post, Recognized Delegate @Juanbug outlines the current state of the MIP proposal timeline and submits a poll asking the community for opinions on adjusting the parameters. The current timeline includes:</summary><br>
* 4 weeks (RFC) request for comment period
* ~1-week intermittent time
* ~3 days of formal submission
* ~4 days of waiting time prior to ratification polls
* 2 weeks ratification poll for formal voting
@Juanbug argues that this seven-week period is too long and inefficient. Activity tends to accelerate close to the formal submission window, with little activity in the first few days of a proposal's lifecycle. There also appears to be a clear "dead zone" during weeks two and three.
The post closes with a suggestion for a shorter, potentially more efficient timeline:
* 3 weeks (RFC) request for comment period
* 4 days intermittent time
* 3 days of formal submission
* 1 day of waiting time prior to ratification polls.
* 1-week ratification poll for formal voting
</details></br>
---
**[Celsius will probably be liquidated and the consequences for MakerDao](https://forum.makerdao.com/t/celsius-will-probably-be-liquidated-and-the-consequences-for-makerdao/15763)**
@makercaesar made a post asking the community how MakerDAO might be impacted if Celsius, a major Vault user, is liquidated.
@adcv of the Strategic Finance Core Unit dropped in to explain that Maker is not at risk of anything beyond losing business from a longstanding customer:
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**[“Ruble gold standard”](https://forum.makerdao.com/t/ruble-gold-standard/15758)**
@cryptenthusiastic published a post making a case for introducing a DaiRUB token pegged to the Russian ruble, which was confirmed in March to have been moved to the gold standard in an attempt to strengthen it in the face of multiple economic crises.
@cryptenthusiastic argues that "the Achilles heel of the Dollar is becoming more visible and vulnerable," and Maker must be ready to adapt if necessary. Offering a token pegged to a currency on the gold standard may be one way to stay prepared.
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**[MKR almost below \$900](https://forum.makerdao.com/t/mkr-almost-below-900/15748)**
@Leritu posted a popular MKR price discussion post, describing the token as "in a death spiral with all the other altcoins."
In a comment, @cryptenthusiastic argues that falling prices result from a combination of the current macroeconomic outlook and a natural correction in the market, stating that "nothing unusual or alarming" is going on.
@adcv adds that the MKR price has long been strongly correlated to the price of WETH:
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**[Change on-chain voting from voting by raise of hands to voting by ballot ](https://forum.makerdao.com/t/change-on-chain-voting-from-voting-by-raise-of-hands-to-voting-by-ballot/15745)**
<details><summary>This informal poll submitted by @Balloonist asks why Maker on-chain voting is fully transparent—i.e., why do we vote by show of hands rather than by ballot?</summary><br>
Pros: Show of hands
* May be easier to document that decision-making in MakerDAO is decentralized
* Transparency around delegates’ votes is useful for documenting that opinions and actions are aligned
* Great for further discussion in small groups with a high level of mutual trust
Pros: Ballot
* Voters are protected against intimidation, etc. after voting takes place
* Reduces the risk of corruption (because it is more difficult to buy votes)
* Possible to document who voted without revealing their choices
* Voters can bring arguments for or against proposals regardless of how they voted
Commenters point out technical feasibility and industry standards as points in favor of show-of-hand voting.
</details></br>
---
**[Independent review of ALM Framework for MakerDAO and Suggestions For Balance Sheet Optimization](https://forum.makerdao.com/t/independent-review-of-alm-framework-for-makerdao-and-suggestions-for-balance-sheet-optimization/15730)**
@One_Pastrami published an independent [review](https://docs.google.com/presentation/d/1VoA9Xbmkv24p27I0dfukqHeips2OGBdEqB5V9R66TdU/edit?usp=sharing) of the ALM framework for MakerDAO, together with recommendations for optimizing Maker's balance sheet.
<details><summary>Ideas include:</summary><br>
* MakerDAO’s ALM practice is constrained by maintaining DAI’s USD peg and has achieved high liquidity ratios, which provide protocol security but could indicate less than optimal use of funds.
* Shifting focus to balance sheet optimization to increase net interest income and liquidity buffer and reinvesting in the platform.
* Recognition of backing collateral for Vaults (i.e., crypto collateral) as liabilities, similar to deposits at banks, and un-invested assets held in reserves, thereby establishing a baseline for balance sheet optimization.
* Focus on balance sheet optimization by converting crypto reserves to generate additional yield by launching an ALM investment program and/or new product features.
* Source investment opportunities to generate yield for the PSM vault.
* Establishing an investment program may lead to a 180 million DAI increase in net interest income.
* Leverage some of these identified investments to increase the robustness of MakerDAO’s liquidity buffer.
</details></br>
---
**[Discussion: External Work](https://forum.makerdao.com/t/discussion-external-work/15718)**
Core Unit Facilitator of the Risk Core Unit @Primoz made a post discussing external opportunities for funding projects—in this case, a dashboard similar to the [Block Analitica dashboard](https://maker.blockanalitica.com/) for Maker—via external sources. Before proceeding, the Risk Core Unit wants to gauge how the community would feel about this undertaking.
@Primoz points out that there are already cases in the current Core Unit structure where certain companies have an outside business, but there does not appear to have been any formal discussion regarding this state of affairs.
@Primoz is quick to note that any activity outside Maker should ideally have tangible benefits for Maker. In the case of the Aave dashboard under discussion, the analytics derived should be useful for D3M risk monitoring.
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**[Education Partnership Proposal with Mass Effect](https://forum.makerdao.com/t/education-partnership-proposal-with-mass-effect/15715)**
@ManuelMaccou is building a "knowledge exchange protocol" called Mass Effect that connects learners to subject matter experts. He submitted a post to the Maker forums calling for subject matter experts to get involved with the project.
In short: "Mass Effect incentivizes a cyclical pattern of learning → teaching → learning, allowing for the exponential growth of knowledge transference."
Community members can anonymously nominate others [here](https://forms.gle/ztqPNUvxPzMBW62b9).
---
**[[Informal Poll] Permit the RWF Core Unit to allocate time and resources to reviewing an upcoming New Silver request for Debt Ceiling increase ](https://forum.makerdao.com/t/informal-poll-permit-the-rwf-core-unit-to-allocate-time-and-resources-to-reviewing-an-upcoming-new-silver-request-for-debt-ceiling-increase/15768)**
@prankstr25 of New Silver submitted an informal poll asking the community to allow the RWF Core Unit to spend time and resources engaging with New Silver, after which a Signal Request for raising the debt ceiling for New Silver's Vault to 100-150M DAI will be submitted.
Specifically, New Silver and the RWF Core Unit would engage in:
* Implementing the Trust Indenture legal structure as outlined in [this post](https://forum.makerdao.com/t/centrifuge-update-cornerstone-agreement-complete-to-onboard-rwas-to-maker-with-centrifuge-successful-collaboration-with-incubating-lts/)
* A due diligence review
* Any other items as needed
---
**[Informal Poll: Fix stETH price at 1 ETH and save crypto](https://forum.makerdao.com/t/informal-poll-fix-steth-price-at-1-eth-and-save-crypto/15808)**
@g_dip posted an informal poll asking, "Should Maker fix the price of stETH to 1 ETH to help crypto traders avoid liquidation?"
So far, most voters are not supportive of the idea:
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**[[Very Informal Poll] MKR Cash Out](https://forum.makerdao.com/t/very-informal-poll-mkr-cash-out/15786)**
@Spidomo asks: "Purely as a hypothetical, would it be nice if the protocol would cash out any MKR holder their proportional share of the Surplus Buffer (currently around 91 Dai) in exchange for each MKR token upon request?"
The post has generated a handful of comments, from lukewarm acceptance to rejection.
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**[The Endgame Plan part 3: The Endgame Decentralized Workforce](https://forum.makerdao.com/t/the-endgame-plan-part-3-the-endgame-decentralized-workforce/15737)**
@rune published Part 3 of his Endgame Plan for revamping Maker governance.
Check out our summary of this post in Monday's [Weekly Relay](https://forum.makerdao.com/t/weekly-relay-june-7-13-2022/15818).
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**[Specialization Unlocks Complexity](https://forum.makerdao.com/t/specialization-unlocks-complexity/15709)**
In this post, @Teej argues why Maker governance should be split into two primary groups, Governors and Clusters, to help tame Maker's governance complexity.
Read our summary of this post in the [Weekly Relay](https://forum.makerdao.com/t/weekly-relay-june-7-13-2022/15818) for more information.
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## Seeking Consensus
‘Yo, do you even signal?’
**[Set the AAVE D3M DC to 0 (Zero)](https://forum.makerdao.com/t/signal-request-set-the-aave-d3m-dc-to-0-zero/15775)**
> Poll Closes on June 20th, 2022, at 17:00 UTC
The current market environment is too volatile, separating the more robust lending protocols everywhere, centralized or not, from those with lower risk standards. Unfortunately, AAVE is currently loaded with risk with large exposure to stETH. AAVE also has a large surface area due to cross-collateralization (unlike Maker), where other borrowers can take out the locked collateral like ETH and WBTC in the protocol. It also operates on multiple chains, which means that it carries exposure to centralized bridge failure risk on all those chains. It’s a risky environment, in general, to extend a 100M Debt Ceiling when the dominant theme is redemption.
The AAVE-DAI pool currently has enough reserves right now for MakerDAO to withdraw. If the DAI reserves become empty, any periodic DAI repayments from other borrowers will be snatched quickly by bots, and a protocol like MakerDAO will be locked in for a long time. Similar to how Central Banks increase or decrease Money Supply, the D3M was initially meant to supply liquidity on a short-term basis, and MakerDAO can risk locking its liquidity up for a long time. It’s a small percentage of the total MakerDAO TVL, but the amount is large enough to cause issues to the surplus buffer.
*Pros:*
- Risk Profile is now higher (100M at Risk), and these new factors should be discussed.
- The Stability Fee rate in Maker and AAVE are already at parity which means we do not need this D3M to operate right now, so it can be turned off without causing any issues.
- MKR token owners, community members, and Delegates should gather data and analysis from folks monitoring various data points on this thread so that MakerDAO can make an informed choice.
*Cons:*
- Decrease in DAI deposits via the AAVE D3M
- Decrease in D3M will hamper 1,000,000++ DAI income to Maker
---
**[URGENT: Signal Request Set Aave D3M bar to 0%](https://forum.makerdao.com/t/urgent-signal-request-set-aave-d3m-bar-to-0/15800)**
> Poll Closes on June 15th, 2022, at 20:00 UTC
GovAlpha has submitted an urgent Signal Request in response to this [post](https://forum.makerdao.com/t/signal-request-set-the-aave-d3m-dc-to-0-zero/15775/15) by @Primoz. Maker Governance is asked if the Aave D3M bar should be set to 0.
As an added check, setting the bar to 0 makes the target supply 0. You can set the bar to 0 using a MOM; this bypasses the GSM Pause Delay and allows any changes to take effect when the Executive Vote is executed. As Signal Request will be for 24 hours and, if successful, will be followed by an expedited Executive Vote containing only this proposal.
*Pros:*
- Protects the Surplus Buffer and Maker holders by reducing the risk posed by the Aave D3M.
*Cons:*
- Turns off the Aave D3M leading to reduced revenue for Maker
The Signal Request will run until June 15th at 20:00 UTC. In the event of a majority of non-abstaining voters, an expedited Executive Vote will be initiated as soon as possible (likely Wednesday, June 15th). This is outside the usual Executive Voting cycle as in MIP24 and MIP41. If this Urgent Signal Request has a positive outcome, it overrides the ongoing Signal Request by @ElProgreso, which will be canceled.
Further information on the Aave D3M and the `bar` parameter can be found [here.](https://manual.makerdao.com/module-index/module-dai-direct-deposit)
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## Ongoing Initiatives
‘Oh my god, this is taking ages; why can’t things be simple?’
<details><summary><i>Click here for a list of current initiatives:</i></summary><br>
[Maker Operational Manual](https://forum.makerdao.com/t/announcing-maker-operational-manual/12553) - @GovAlpha-Core-Unit release the launch of the Maker Operational Manual and invite all members and Core Units to reach out if they wish to provide any help or documentation to add for the Manual.
[Recognised 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/10076/2) 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://forum.makerdao.com/t/collateral-status-index/2231) - Confused about the current status of the various collateral types discussed recently? Check out this post 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 welcome and introductions thread. Not strictly governance, but if anyone new or old wants to introduce themselves, now is your chance!
</details>
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## 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
*Please, check out the [Forum at a Glance feedback survey](https://survey.sogosurvey.com/r/qTb1p7) to help us improve and scale these reviews - It will be fun, I promise.*
Credit: @nothsa and @Artem_Gordon
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