---
# System prepended metadata

title: Maker Relay 13
tags: [Maker Relay]

---

---
tags: Maker Relay
---

# Maker Relay 13

![](https://i.imgur.com/SWIf7ZF.png)

_Hey everyone, thanks for checking out Maker Relay!_

Whether you hold Maker (MKR) or DAI, own a vault, or want to get more involved in MakerDAO governance, this is your one-stop-shop for updates on the MakerDAO ecosystem. 

## Votes

### Monthly Governance Cycle

#### [VOTE: MIPs Monthly Governance Poll](https://vote.makerdao.com/polling-proposal/qmcvvcnog7nv1ynqezxwwmtk9neexc5l1hrbi9zbugaars)

This poll asks whether the bundled contents of this month's Governance Cycle should proceed to an Executive Vote to be held on September 28, 2020. The bundled contents of this poll consist of:

| Poll Name  | Type  | Discussion | 
| ---------- | ----------------- | ---------- |
| MIP7c3-SP3 - Domain Team Onboarding (Risk) | Monthly Governance Poll | [Discussion](https://forum.makerdao.com/t/mip7c3-sp3-domain-team-onboarding-risk-domain-team/4050) |
| MIP7c3-SP4 - Domain Team Onboarding (Smart Contracts) | Monthly Governance Poll | [Discussion](https://forum.makerdao.com/t/mip7c3-sp4-domain-team-onboarding-smart-contract-domain-team/4057) |
| MIP12c2-SP4 - LRC Collateral Onboarding | Monthly Governance Poll | [Discussion](https://forum.makerdao.com/t/mip12c2-sp4-domain-work-requirements-for-lrc/3558) |
| MIP12c2-SP5 - COMP Collateral Onboarding | Monthly Governance Poll | [Discussion](https://forum.makerdao.com/t/mip12c2-sp5-comp-collateral-onboarding/4065) |
| MIP12c2-SP6 - LINK Collateral Onboarding | Monthly Governance Poll | [Discussion](https://forum.makerdao.com/t/mip12c2-sp6-link-collateral-onboarding/4066) |
| MIP13c3-SP2 - Declaration of Intent - Dai Flash Mint Module | Monthly Governance Poll | [Discussion](https://forum.makerdao.com/t/mip13c3-sp2-declaration-of-intent-dai-flash-mint-module/3635) |
| MIP15 - Dark Spell Mechanism | Monthly Governance Poll | [Discussion](https://forum.makerdao.com/t/mip15-dark-spell-mechanism/2578) |

### Weekly Governance Cycle

*Some polls use [instant run-off](https://ballotpedia.org/Ranked-choicevoting(RCV)), so you can select multiple options and ranked-choices will be prioritized.*

| Poll Name  | Type  | Vote    | Discussion | 
| ---------- | ----------------- | ---------- | ----- |
| MIP10c7-SP1: Update ETHUSD Data Model | Data Model | [Vote](https://vote.makerdao.com/polling-proposal/qmfh4pbjjmryz9dnregkutwtbjehajczzbmhuvgjnz92wz) | [Discussion](https://forum.makerdao.com/t/mip10c7-sp1-update-ethusd-data-model/4106) |
| MIP10c9-SP7: Whitelist Opyn on ETHUSD Oracle | Oracle | [Vote](https://vote.makerdao.com/polling-proposal/qmeuuzmxbs8kymukxfrpfs8hlphvzwxuhrregyxwa5qgpr) | [Discussion](https://forum.makerdao.com/t/mip10c9-sp7-whitelist-opyn-on-ethusd-oracle/4061) |
| MIP10c9-SP8: Whitelist DDEX on BTCUSD Oracle | Oracle | [Vote](https://vote.makerdao.com/polling-proposal/qmtbvw3dlunutchhpfkh7l1zjmpztqc65gyksjw6grykrt) | [Discussion](https://forum.makerdao.com/t/mip10c9-sp8-whitelist-ddex-on-wbtcusd-oracle/4094) |
| MIP10c9-SP10: Whitelist YEarn Finance on BTCUSD Oracle | Oracle | [Vote](https://vote.makerdao.com/polling-proposal/qmugblgugdgypuzhjxdiywf78gdkbogl1y17w1ebmjqlte) | [Discussion](https://forum.makerdao.com/t/mip10c9-sp10-whitelist-yearn-finance-on-btcusd-oracle/4192) |
| MIP10c9-SP11: Whitelist Kyber on ETHUSD Oracle | Oracle | [Vote](https://vote.makerdao.com/polling-proposal/qmx61tfcfodvcippiv8nqpye7wywq3rjotj11n73vh3ggp) | [Discussion](https://forum.makerdao.com/t/mip10c9-sp11-whitelist-kybers-promo-token-pricing-contract-on-ethusd-oracle/4193) |
| Base Rate Adjustment: range -4% to 4% | Meta-Parameter | [Vote](https://vote.makerdao.com/polling-proposal/qmtxhavugj6ah2pnz5q3h7fyyoj5m7y2ebqb8wunk14slf) | [Discussion](https://forum.makerdao.com/t/agenda-discussion-scientific-governance-and-risk-110-thursday-september-17-16-00-utc/4074) |
| Prioritising Real World Asset Collateral | Proposal | [Vote](https://vote.makerdao.com/polling-proposal/qmxpawlfjjnn9rjibkkcqna3vxynjnvsop5mhzkkdrxpr3) | [Discussion](https://forum.makerdao.com/t/signal-request-should-real-world-asset-collateral-onboarding-be-prioritised-in-the-short-term/4075) |
| Adjust the BAT-A Debt Ceiling from 5 to 10 mil. Dai | System-Parameter | [Vote](https://vote.makerdao.com/polling-proposal/qmyzzgafxbq9zfeq2us8ghzxadtj9qlzorpny7fp7tkmlf) | [Discussion](https://forum.makerdao.com/t/signal-request-adjust-the-bat-debt-ceiling/3919) |
| Adjust the ETH-A Risk Premium from 0% to 2% | System-Parameter | [Vote](https://vote.makerdao.com/polling-proposal/qmczwpsxxwmhdetdm1bp3gquhq7ygmvbjpd7ww1bwqspp6) | [Discussion](https://forum.makerdao.com/t/signal-request-increase-eth-a-risk-premium-september-2020/4042) |

#### Community Greenlight Polls

| Poll Name  | Vote    | Discussion | 
| ---------- | ----------------- | ---------- | ----- |
| BAL (Balancer Token) | [Vote](https://vote.makerdao.com/polling-proposal/qmxdnkwsqwgb4f9xv8n64huizguot1vdojatjgqseruycz) | [Discussion](https://forum.makerdao.com/t/3880) |
| CAT (ShuttleOne Credit Application Token) | [Vote](https://vote.makerdao.com/polling-proposal/qmttpzpvjhhknnafbvz5xjvai1yfhn9zz69rbuhsdm6cum) | [Discussion](https://forum.makerdao.com/t/3633) |
| CGT (CACHE Gold) | [Vote](https://vote.makerdao.com/polling-proposal/qmbr7zjw1p3bqhvraheqcpdjhkudebanuudp1isdj5laxz) | [Discussion](https://forum.makerdao.com/t/3980) |
| UMA (UMA) | [Vote](https://vote.makerdao.com/polling-proposal/qmqf6xcm3jxs9hu9hnge6wgjydzmg3nsh4wcvaezqvfciz) | [Discussion](https://forum.makerdao.com/t/3555) |
| YFI (yearn.finance) | [Vote](https://vote.makerdao.com/polling-proposal/qmtlcudehuiqc3d3qtty6xgf82gzuxg1rlf9cdg4ffrcj6) | [Discussion](https://forum.makerdao.com/t/3815) |
| ARCA (ArCoin) | [Vote](https://vote.makerdao.com/polling-proposal/qmvbcqfzst6w63a7ndnwdid6uzgfxzx99qqvfjx1c2gtxs) | [Discussion](https://forum.makerdao.com/t/3544) |
| cDAI (Compound DAI) | [Vote](https://vote.makerdao.com/polling-proposal/qmtw2srumkaznrcth5jkryfjcdjolxxy1ufaimk6v87bej) | [Discussion](https://forum.makerdao.com/t/3764) |
| wNXM (Wrapped NXM) | [Vote](https://vote.makerdao.com/polling-proposal/qmebdagma2i6id4qysncycfesirjyt3kgnkdatwh6xq1m2) | [Discussion](https://forum.makerdao.com/t/3865) |
| REINNO (REINNO) | [Vote](https://vote.makerdao.com/polling-proposal/qmakfiaydofmwgrmddmhibwgn8tefptmblnj8neucty8xn) | [Discussion](https://forum.makerdao.com/t/3891) |
| renBCH (renBCH) | [Vote](https://vote.makerdao.com/polling-proposal/qmba2eyhhfx5tmg12mccvtge3vycshmscptfsycxspekix) | [Discussion](https://forum.makerdao.com/t/3762) |
| renZEC (renZEC) | [Vote](https://vote.makerdao.com/polling-proposal/qmzfpbnvhqezxv6b2enrltdehq3ybthavj73gyvk5fvubz) | [Discussion](https://forum.makerdao.com/t/3581) |
| MOONI-ETH-USDC (Mooniswap ETH-USDC Liquidity Pool) | [Vote](https://vote.makerdao.com/polling-proposal/qmd8mxitqjjudfqy3cbrviizktkm7vyaqzwsr32zwdrqsf) | [Discussion](https://forum.makerdao.com/t/3724) |
| MOONI-ETH-USDT (Mooniswap ETH-USDT Liquidity Pool) | [Vote](https://vote.makerdao.com/polling-proposal/qmpg5ft4gkn63b1t7adrzd57ghmk7rctwbxpwdatkgjygx) | [Discussion](https://forum.makerdao.com/t/3729) |
| MOONI-ETH-WBTC (Mooniswap ETH-WBTC Liquidity Pool) | [Vote](https://vote.makerdao.com/polling-proposal/qmu6ftqzk69xpblgsg2qjrpwq64w36h84lbhekgbepxpgn) | [Discussion](https://forum.makerdao.com/t/3728) |
| BPT-80BAL-20WETH (80% BAL 20% ETH Balancer Pool Token) | [Vote](https://vote.makerdao.com/polling-proposal/qmufspjjqvm5kztiasuqvqbysbhzsadpugktyuyerjglsq) | [Discussion](https://forum.makerdao.com/t/3881) |

### Last Week

[Enable TUSD, Reduce Stablecoin Liquidation Ratios, Other Changes](https://vote.makerdao.com/executive-proposal/enable-tusd-reduce-stablecoin-liquidation-ratios-other-changes--september-18-2020)
- Passed on Sep 18, 2020, 19:53 UTC with 88,871.68 MKR. Executed on Sep 19, 2020, 07:53 UTC.
- The new TUSD Implementation whitelisted and enabled for use in the Maker Protocol
- The USDC-A Liquidation Ratio decreased from 103% to 101%
- The PAXUSD-A Liquidation Ratio decreased from 103% to 101%
- The TUSD-A Liquidation Ratio decreased from 120% to 101%
- The USDC-A Debt Ceiling increased from 200 million to 400 million
- The TUSD-A Debt Ceiling increased from 2 million to 50 million
- The Global Line parameter increased from 948 million to 1,196 million
- The Base Rate meta-parameter increased from -2% to 0%
- The TUSD-A Stability Fee increased from 0% to 4%
- The USDT-A Stability Fee increased from 6% to 8%
- The PAXUSD-A Stability Fee increased from 2% to 4%
- The USDC-A Stability Fee increased from 2% to 4%
- The USDC-B Stability Fee increased from 48% to 50%
- The BAT-A Stability Fee increased from 2% to 4%
- The WBTC-A Stability Fee increased from 2% to 4%
- The KNC-A Stability Fee increased from 2% to 4%
- The ZRX-A Stability Fee increased from 2% to 4%
- The MANA-A Stability Fee increased from 10% to 12%
- The Gitcoin feed key has been replaced on the MANAUSD Oracle

## Updates

### MIPs

*The Maker Improvement Proposal (MIPs) Framework provides a clear process for Maker governance to change the Protocol as needed. Learn more about [MIPs](https://forum.makerdao.com/c/MIPs/14)*

[Discussion and the weekly MIPs update](https://forum.makerdao.com/t/4243).

Proposals in the Request-For-Comments phase include:

- [MIPX: Emergency Response](https://forum.makerdao.com/t/emergency-response-mip/4009/4)
- [MIP14: Protocol Dai Transfer](https://forum.makerdao.com/t/mip14-protocol-dai-transfer/2462/30)
- [MIP17: Weekly Actual Debt Ceiling and Actual Risk Premium Adjustments](https://forum.makerdao.com/t/mip17-weekly-actual-debt-ceiling-and-actual-risk-premium-adjustments/3021)
- [MIP20: Target Price Adjustment Module (Vox)](https://forum.makerdao.com/t/mip20-target-price-adjustment-module-vox/3196)
- [MIP21: Real-World Assets - Off-Chain Asset-Backed Lender](https://forum.makerdao.com/t/mip21-real-world-assets-off-chain-asset-backed-lender/3917)
- [MIP22: Centrifuge Direct Liquidation Module](https://forum.makerdao.com/t/mip22-centrifuge-direct-liquidation-module/3930)
- [MIP23: Domain Structure and Roles](https://forum.makerdao.com/t/mip23-domain-structure-and-roles/4021)

### Smart Contracts

[The Smart Contracts and Domain Work](https://forum.makerdao.com/t/the-smart-contracts-team-and-domain-work/4173) teams begin a conversation about boundaries and expectations for work done by the Foundation Smart Contracts Team, on behalf of the community.

### Risk

The team is currently working on collateral evaluations for the October cycle: BAL, YFI, PAXG, and LEND.

Primoz published a [Help Wanted Thread](https://forum.makerdao.com/t/wanted-risk-domain-monitoring-tools/4168) looking for a person who is interested in building Risk Monitoring Tools and working with the Risk Domain Team.

[quote="Primoz, post:1, topic:4168"]
In order to have a clear understanding of the current state of the Maker ecosystem, we need to develop monitoring tools, specifically for Vault users, DAI liquidity and competitive landscape. This should give us a better understanding of DAI primary issuance and how DAI flow between AMMs and secondary lenders is affecting the peg.
[/quote]

## Current Events

### Vault Compensation 

The [Vault Compensation Plan Approval Poll](https://vote.makerdao.com/polling-proposal/qmnxitxuc5u4inynq8ekh5vvbgomjzl6fudwzhawbshhgh) ends Tuesday, September 22 at 16:00 UTC. The current leading vote is oscillating between 18% compensation and 0% compensation.

*Make sure to get your vote in and be heard!*

#### More Information

- [Vault Compensation Plan v2](https://forum.makerdao.com/t/vault-compensation-plan-v2/3584/112)
- [Black Thursday Vault owners report Thread](https://forum.makerdao.com/t/black-thursday-vault-owners-report-thread/1566)

### Collateral Onboarding

**New** [Collateral Onboarding Grants](https://forum.makerdao.com/t/collateral-onboarding-grants/4252) fund community members interested in working on collateral onboarding and provide special incentives for rewarding collective collaboration.
*[This is the largest grant issued by the Foundation to date.](https://twitter.com/itsamyjung/status/1307044621026045953?s=20)*

Discussion on [Improvements to the Collateral Onboarding Framework](https://forum.makerdao.com/t/improvements-to-the-collateral-onboarding-framework/4250) has also begun. In summary, the proposed changes are:

- Suspend the usage of MIPs 8, 10, 11, and 12 effective immediately.
- Explicitly allow collateral onboarding to be a flexible process that can adjust to the demands of reality.
- Publish and maintain a public document with all collateral types listed and prioritized according to their varying risks and benefits.
- Provide Foundation-funded grants for collateral onboarding to allow the community to take more of a role in this process.


### New Badges Coming to the Forum

Join this Thursday's [(9/24) Governance and Risk call](https://forum.makerdao.com/t/agenda-discussion-scientific-governance-and-risk-111-thursday-september-24-16-00-utc/4239/1) for an introduction to MakerDAO badges.

Badges reward individuals for participating in MakerDAO in various ways and displayed in the Forum to help personalize communications.

![](https://i.imgur.com/53FreEE.png)

## State of the Peg

![Peg](https://i.imgur.com/v5KAQ9Z.png)

- DAI peg still just above $1.01. It's worth mentioning that there has been a long term floor on Dai price at about $1.01. As the price goes closer and closer to peg, it tends to bounce back when a new opportunity pops up.
- Each jump coincides with unique yields; Vishesh referred to this trend as the ["Dai roller-coaster"](https://youtu.be/nkRh4oiNJJA?t=4047) in the Governance and risk call on September 17.

![Dai Supply](https://i.imgur.com/gaTEuge.png)

- Almost 830 million Dai with large mints from a more diverse set of collateral.

![Dai Supply part 2](https://i.imgur.com/5uhQoov.png)

- Interesting to note: PAX-A at 99% utilization and TUSD has ~28 million. 

![VWAP](https://i.imgur.com/h9C5L0k.png)

- Volume at around $259 million this last week. 
- Average Volume weighted average price (VWAP) places Dai at $1.02

https://daistats.com/#/ | http://dai.descipher.io/ 

## Community

### Articles and Thought Pieces 

- [How Ethereum Smart Contracts Power Dai, the Maker Protocol, and DeFi](https://blog.makerdao.com/how-ethereum-smart-contracts-power-dai-the-maker-protocol-and-defi/)
- [Our Network: Issue #39 (Part 2, MKR coverage)](https://ournetwork.substack.com/p/our-network-issue-39-part-2)

### Videos and Podcasts

[Rise of DeFi: Powering the Next Crypto Boom, featuring MakerDAO, Compound Labs, Synthetix, Aave, Delphi Digital](https://podcasts.apple.com/gb/podcast/rise-defi-powering-next-crypto-boom-featuring-makerdao/id1438148082?i=1000491209917)
*MakerDAO founder Rune Christensen sits in on a panel of DeFi experts hosted by Chain Reaction Host Tom Shaughnessy.*

[Tech Intersect #34](https://techintersectpodcast.com/listen/)
*MakerDAO general counsel Brian Avello joins Tonya M. Evans to discuss the role of law in blockchain, cryptocurrency, and DeFi.*
                
### Maker Forum Deep Dai-ve

[MakerDAO Standard Governance Processes](https://forum.makerdao.com/t/makerdao-standard-governance-processes/4298) 
*[@LongForWisdom](https://forum.makerdao.com/u/LongForWisdom) lays out an overview of current governance processes, including information about signal requests, declarations of intent, and Maker Improvement Proposals (MIPs).*

[Can MakerDAO offer a better version of the StableCredit Protocol?](https://forum.makerdao.com/t/can-makerdao-offer-a-better-version-of-the-stablecredit-protocol/4184)
*[@gdip](https://forum.makerdao.com/u/gdip) kicks off a discussion about StableCredit and whether or not aspects of the protocol might be useful to MakerDAO.*

[quote="g_dip, post:1, topic:4184"]
While credit systems like MakerDAO serve traditional borrowers that are seeking liquidity on their assets very well, the community has perhaps overlooked whether it is properly serving those who borrow with the *intent of providing liquidity themselves* . I believe Andre’s system has both strengths and weaknesses, and that the Maker Protocol can be the solution to those weaknesses.
[/quote]

[Using DAI in “blacklisted countries by USA government,” and USDC legal compliance](https://forum.makerdao.com/t/using-dai-in-blacklisted-countries-by-usa-government-and-usdc-legal-compliance/4256)
*[@smaugho](https://forum.makerdao.com/u/smaugho) raises important issues over the accessibility of Dai in countries blacklisted by the U.S. government due to the inclusion of USDC in the collateral portfolio of MakerDAO, asking:*

[quote="smaugho, post:1, topic:4256"]
Which is the stand of MakerDAO community in front of USA Embargo against countries (including their citizen) like Cuba, and us Cubans which suffer the “bad luck” of have been born in a communist country? Which is the position of the community to support the usage of DAI in Cuba even at the expense of increasing the possibility to have USDC Vaults blocked and who knows which other actions could be taken by the USA government?
[/quote]

### Twitter

[Tweet of the Week](https://twitter.com/spencernoon/status/1307410220574965768?s=20)

## Meetings and Events

### MakerDAO Open Calls

#### Community Call

- Tuesdays at 16:00 UTC | [Crowdcast](https://www.crowdcast.io/e/the-makerdao-community-12/register)

#### Community Collateral Onboarding

- Bi-weekly Wednesdays at 17:00 UTC | [Zoom](https://us02web.zoom.us/j/82526996403) - Message [#governance-and-risk](https://chat.makerdao.com/channel/governance-and-risk) for Admission
    - [Introduction](https://forum.makerdao.com/t/collateral-onboarding-call-bi-weekly-on-wednesday-at-17-00-utc-19-00-cet-10am-pst/3614)
    - [Agenda](https://forum.makerdao.com/t/agenda-discussion-collateral-onboarding-call-9-wednesday-september-23-17-00-utc/4227) for September 23: Stani from Aave will present LEND, and Tyler Winklevoss from Gemini will present GUSD

#### Governance & Risk

- Thursdays at 16:00 UTC | [Zoom](https://zoom.us/j/697074715) 
    - Message [#governance-and-risk](https://chat.makerdao.com/channel/governance-and-risk) for Admission
    - [Agenda](https://forum.makerdao.com/t/agenda-discussion-scientific-governance-and-risk-111-thursday-september-24-16-00-utc/4239) | [Dial-in call link](https://zoom.us/) | [Calendar](https://calendar.google.com/calendar/embed?src=makerdao.com_3efhm2ghipksegl009ktniomdk@group.calendar.google.com&ctz=America/Los_Angeles)
    - [Archives](https://community-development.makerdao.com/governance/governance-and-risk-meetings)
    - [Contributing](https://forum.makerdao.com/c/governance/gnr/8)

### Community Events

- September 30 [Stable Coins Demystified: The Why, How, and Where](https://www.eventbrite.de/e/stable-coins-demystified-the-why-how-and-where-tickets-112754975166)
- October 1 [Blockchain Education in Africa](https://www.crowdcast.io/e/BlockchainAfrica/register)

### Hackathons

* Sept 15-30 [Hack the Rainbow](https://near.org/rainbow/)
* Oct 2-20 [ETHOnline](https://www.ethonline.org/)

## Reference Links

Discuss and debate Maker governance in the [Forum]() and over [Maker Chat](https://chat.makerdao.com/)

Propose technical changes, poll, and vote in the [Governance Portal](https://makerdao.com/en/governance)

Learn more about the Maker protocol in our [Documentation](https://docs.makerdao.com/)

### Have Feedback? 

We value your input! Post in the [Forum](https://forum.makerdao.com/), take our [survey](https://forms.gle/Z2QAgywU2Sesm7Vy6) or join us in the [Community-Development](https://chat.makerdao.com/channel/community-development) channel to let us know what you want to see.

*Disclaimer: This update is assembled by a group of contributing members in the MakerDAO community. This does and should not serve as financial advice or an inducement to vote in any specific way. This update is purely for informative and for communications purposes only.*