--- tags: Weekly Relay --- # Weekly Relay | December 3 - 9, 2022 ![](https://i.imgur.com/65P74Y0.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](https://pdfhost.io/v/AO2MMAnS._December_3_9_2022)</small> --- ## 🍿 **CURRENT EVENTS** ### New Delegate Expands Diversity ![](https://i.imgur.com/anENTmE.jpg) **Despite delegation being in place for almost 18 months, we have yet to see an educational institution from Asia participate in governance. Until now...** [Hong Kong University of Science and Technology (HKUST)](https://forum.makerdao.com/t/hkust-epi-blockchain-delegate-platform-hkust/19113) enters the arena as Maker's newest Recognized Delegate with the following Core Values to drive their platform. HKUST EPI aims to present value to the protocol by: - Establishing a beneficial and friendly environment between Universities and Protocols. - Developing innovative solutions through critical thinking. - Educating the next generation about the benefits of blockchain technology in TradeFi. - Supporting the protocol on Treasury, Budgeting, Process Streamlining, and Collateral Risk Management. - And sharing their insights, industry knowledge, and experiences. ##### **Summary of Delegate Statement** HKUST openly embraces the visions and innovation stemming from bleeding-edge technologies, and its students are actively encouraged to explore these new frontiers. > "As blockchain technology is still maturing and adoption rapidly increases, continuous education and development should be established. Strategic planning, proper decision-making, and marketing are required for mainstream adoption to be achieved. > > Therefore, establishing a research lab (EPI) to synergize the growth of MakerDAO, by governance participation, with exposure to blockchain technology and decentralized finance, would provide a mutually beneficial symbiotic relationship between MakerDAO and the University." The *delegator* will be led by a University researcher, with volunteer students filling out the Research Lab. This Lab expects to be fully vested in Maker Governance, with frequent and timely communication on all governance decisions. The Lab will receive assistance from other Faculty members on topics such as Research, Education, Business Development, and Web3-centric developments. Focus will be placed on several initiatives, including: * Actively participating in forum discussions. * Initiating new improvement proposals. * Monitoring protocol news and updates. * Seeking consultations with respective faculty members or with collaborating external parties. * Communicating with internal team members. * And offering public Q&A with their delegators. Curious to learn more? Join [the next Meet Your Delegate call](https://forum.makerdao.com/t/meet-your-delegate-22-hkust-epi-blockchain/19140) happening this Wednesday at 5:30 p.m. UTC, where EPI Lab will present their platform and answer all of your questions. ### Uncertain Paths as Core Unit Budgets are Rejected **Several Core Units had their budgets rejected, with delegates advising transitions to Endgame-compliant positions as Ecosystem Actors.** Governance Communications, Immunifi Security, SideStream Auction Services, and TechOps all had their budgets rejected during the November governance cycle. The rejections did not come with any offboarding proposals but rather left the Core Units in a questionable position, asking them to figure out their next move. Each group scrambled to understand what to do next. Over the last week, we saw proposals published, hinting at these teams' future. Some Core Units are anxious to see how delegates will vote during the next round of budget proposals coming in March. Hopes for a smooth transition into Endgame are dwindling. #### Governance Communications ##### COM-001 Unwinding GovComms was the first to act, [proposing their own offboarding](https://forum.makerdao.com/t/mip39c3-sp7-core-unit-offboarding-com-001/19068) with no certain future in mind. Following the budget rejection, GovComms worked with GovAlpha Core Unit to transition the critical and most valuable parts of their work. They are on track to close everything out by the end of January. The proposal generated a range of responses. Many expressed gratitude and well wishes, while others felt confusion and uncertainty. However, the bulk of the discussion focused on the golden parachute and retroactive MKR compensation. ##### Debate on Golden Parachute and Retroactive Compensation The offboarding proposal [that polled](https://forum.makerdao.com/t/mip39c3-sp7-core-unit-offboarding-com-001/19068/2) for the level of retroactive MKR compensation sparked some lively discussion on the fairness of the proposal with regards to the golden parachute and retroactive MKR compensation. While many agree on the general concept of the golden parachute, the disagreements stemmed from the questions of "How much should the DAO compensate offboarded units?" and "is the level of retroactive MKR compensation fair?" One side argued that the packages might be too generous, while others argued that compared to other Core Units, GovComms was being penalized for poor timing and that they should be compensated on a comparable level. #### Immunifi Security ##### Mandate and Budget Rejected Besides their [budget](https://vote.makerdao.com/polling/QmeYD9nA#vote-breakdown), Immunefi Security also had its [mandate](https://vote.makerdao.com/polling/QmYPH6qd) rejected as delegates generally agreed about the value of the bug bounty program, but stated that the Core Unit should transition to an Ecosystem Actor and that they wouldn't support the revised mandate. ##### IS as an Ecosystem Actor The Deputy Facilitator, Psychonaut, [committed to moving forward as an Ecosystem actor](https://forum.makerdao.com/t/mip14c2-sp2-subproposal-for-protocol-dai-transfer-to-fund-iscu-from-dec-2022-to-may-2023/19025#sentence-reason-4), but requested more time to transition. A proposal for [bridge funding](https://forum.makerdao.com/t/mip14c2-sp2-subproposal-for-protocol-dai-transfer-to-fund-iscu-from-dec-2022-to-may-2023/19025) was posted. In parallel, recognized delegate Flipside Crypto posted a formal [offboarding proposal](https://forum.makerdao.com/t/mip14c2-sp2-subproposal-for-protocol-dai-transfer-to-fund-iscu-from-dec-2022-to-may-2023/19025) for the Core Unit. #### Sidestream Auction Services ##### Budget Rejected SAS had its budget [rejected](https://vote.makerdao.com/polling/Qmd5EVNH) as delegates expressed their opinions that the services provided by Sidestream may be better offered as an Ecosystem Actor. ##### SAS as an Ecosystem Actor Sidestream [requested bridge funding](https://vote.makerdao.com/polling/QmUQBhFC#vote-breakdown) to finance operations until March 2023. The team has acknowledged the feedback provided by Delegates and will wind down auction-related work to a bare minimum by only maintaining current auction services. During the next few months, they will work on a process to support Endgame products as a software service provider. Recognized Delegate Flipside Crypto posted a formal [offboarding proposal](https://forum.makerdao.com/t/mip39c3-spx-core-unit-offboarding-sas-001/19083) for the Core Unit. #### TechOps ##### Budget Rejected TechOps had its budget [rejected](https://vote.makerdao.com/polling/QmPbbh7F#vote-breakdown) as delegates believe that the Core Unit should reduce its budget and transition as an Ecosystem Actor or Tribunal. ##### New Budget as an Ecosystem Actor/Infrastructure Tribunal TechOps [requested bridge funding](https://forum.makerdao.com/t/mip14c2-sp1-requesting-protocol-dai-transfer-to-fund-techops-cu-for-february-2023/19018/1) through February 2023 as they propose a [new budget](https://forum.makerdao.com/t/mip40c3-sp88-techops-core-unit-dai-budget/19017) they hope will win favor with delegates, which proposes even lower Base and Bear options. Along with this, TechOps will transition as either an Ecosystem Actor or Infrastructure Tribunal and updated its roadmap to include these as new objectives. If passed, this new budget proposal will begin on April 1st, 2023. ### Compound v2 D3M Integrated **The long awaited [executive vote](https://vote.makerdao.com/executive/template-executive-vote-compound-d3m-onboarding-activating-stablecoin-liquidations-oracle-feed-whitelisting-starknet-relay-upgrade-and-mkr-vesting-december-2-2022) to integrate D3M with Compound has officially passed!** :heavy_check_mark: The community showed [overwhelming support](https://vote.makerdao.com/polling/QmWYfgY2#vote-breakdown) to onboard a second D3M, as it's been [over a year](https://vote.makerdao.com/polling/QmexUjoD#vote-breakdown) since the first one with Aave. D3Ms help position DAI as a more liquid and convenient stablecoin to borrow. Compound users can now benefit from a fixed DAI borrowing rate, which is an attractive option within the volatile structure of DeFi. *Compound V2 D3M Vault Parameters:* * Maximum Debt Ceiling: 5 million DAI. * Target Available Debt: 5 million DAI. * Ceiling Increase Cooldown (`ttl`): 12 hours. * Target Borrow Rate (`bar`): 2%. #### **D3M Links & Resources** <small>[**Should Maker Prioritize Onboarding A Compound D3M?**](https://forum.makerdao.com/t/signal-request-should-maker-prioritize-onboarding-a-compound-d3m/11997)</small> @GFXlabs posted a signal gauging the community's interest in prioritizing the onboarding of a Compound D3M. Polling concluded with a 48% *'Yes'* vote, topping second-place *'Abstain* by a narrow 2% margin. <small>[**Compound D3M Risk Assessment**](https://forum.makerdao.com/t/compound-d3m-risk-assessment/12580)</small> @Sean of the Risk CU offers a deep dive into the newly activated D3M. The post details the entire history of the D3M proposal before moving into a complete analytical breakdown of the mechanism. <small>[**Compound v2 D3M Technical Assessment**](https://forum.makerdao.com/t/direct-compoundv2-dai-direct-deposit-module-technical-assessment/17307)</small> @Derek of the Protocol Engineering CU provides a technical breakdown and assessment of the D3M module. Note that per the post, this implementation is viewed as "high-risk." <small>[**Compound Protocol & cDAI ERC20 Token CES Domain Team Assessment**](https://forum.makerdao.com/t/compound-d3m-compound-protocol-cdai-erc20-token-ces-domain-team-assessment/14993)</small> @dbkcan of CES-001 offers another D3M assessment; this time focused on the risk of onboarding *cDAI* (Compound's interest-bearing DAI derivative). The overall contract risk was assessed as "medium." --- ## :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** -- _Wednesday, December 7<sup>th</sup>, 2022_ -- **Cancelled** - Be sure to follow the [Endgame's Discord Channel](https://www.google.com/url?q=https://discord.gg/BvYahVmxKU&sa=D&source=calendar&usd=2&usg=AOvVaw0rHavBFPijsb_q-AW-vjMo) for the latest and freshest news and discussions! - **MakerDAO Governance & Risk Meeting #218** -- _Thursday, December 8<sup>th</sup>, 2022_ - [Video](https://youtu.be/1aPlX_nwdr8) / [Forum](https://forum.makerdao.com/t/governance-and-risk-218-thursday-december-08-at-17-00-utc/19062) / [Forum Recap | December 1 - 7, 2022](https://youtu.be/jm0YpPeQrbI) / [Slides](https://docs.google.com/presentation/d/1I_47ZGOpeQ76Wb6weiC8PVH2syAAKMQF-6avMWDvF3A/edit#slide=id.g127c42ff1aa_0_9) - _November Financials:_ @adcv walked us through the monthly financial breakdown for MakerDAO. Check the written version of the report [here](https://forum.makerdao.com/t/financial-report-2022-11/19096). - _Approval-Priority Voting:_ @LongForWisdom approached the issue of work prioritization within the DAO and presented Approval Voting as a possible solution. Read his forum post [here](https://forum.makerdao.com/t/a-better-prioritization-system-for-makerdao/18949). - _Yearn Yield:_ Overview of [MIP92](https://forum.makerdao.com/t/mip92-onboard-psm-usdc-to-yearn-to-earn-yield/18971) by @corn, its author. ### Upcoming Calls - **Meet Your Delegate #22 | HKUST EPI Blockchain** - [date=2022-12-14 time=16:00:00 timezone="UTC"] - [Join Link](https://us02web.zoom.us/j/89987970712?pwd=YzNnam5tTHRKN3hGRXVmZERHVW1Gdz09) | [Forum](https://forum.makerdao.com/t/meet-your-delegate-22-hkust-epi-blockchain/19140) - **KYM #16: MIP92 | Onboard PSM USDC to Yearn** - [date=2022-12-14 time=17:00:00 timezone="UTC"] - [Join Link](https://www.crowdcast.io/c/know-your-mip-16) | [Forum](https://forum.makerdao.com/t/know-your-mip-16-mip92-onboard-psm-usdc-to-yearn-to-earn-yield/19139) - **Decentralized Voter Committee** - [date=2022-12-14 time=19:00:00 timezone="UTC"] - [Join Link](https://us02web.zoom.us/j/89326394914) - **Delegate Office Hours** - [date=2022-12-15 time=16:00:00 timezone="UTC"] - [Join Link](https://us02web.zoom.us/j/88920093364) - **MakerDAO Governance & Risk Meeting #219** - [date=2022-12-15 time=17:00:00 timezone="UTC"] - [Join Link](https://zoom.us/j/697074715) | [Forum](https://forum.makerdao.com/tag/pubcall-:-governance-and-risk) --- ### **Core Unit Office Hours** - [Join Link](https://us02web.zoom.us/j/82603350722?pwd=RThleVo5QlBRT1FuOWxiRCs3K0k2Zz09) | GovAlpha Governance Q&As - Mondays at 17:00 UTC - [Join Link](https://us02web.zoom.us/j/85252786103?pwd=bEZaZXdEcGlSWWd5bmpxMDBvVjdEUT09) | Sustainable Ecosystem Scaling - Tuesdays at 13:30 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 at 15:00 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/nio-jrqq-guu) | Governance Communications - Fridays at 18:00 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> ![](https://i.imgur.com/O8Z6GCX.png)