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title: 'G&R #153 Snippet'
tags: [Snippets]

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tags: Snippets
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# G&R #153 Snippet

Domain team updates, Collateral Onboarding, active discussions, and more. All the updates from MakerDAO Governance and Risk Call #153 in this `snippet.` 

## Team Updates

### GovAlpha

[GovAlpha Weekly Update](https://forum.makerdao.com/t/govalpha-weekly-update-2021-08-05/9713)

*Governance and Polls:*
- Two polls ended today: The Open Market Committee rates and the UNIV2DAIUSDC-A Maximum DC.
- Current executive for [Centrifuge Asset Onboarding](https://vote.makerdao.com/executive/template-executive-vote-centrifuge-asset-onboarding-july-23-2021?network=mainnet#proposal-detail):
    - CF-DROP
    - HTC-DROP
    - FFT1-DROP
    - P1-DROP
- One active [Community Greenlight Poll](https://vote.makerdao.com/polling/Qmch87Tw?network=mainnet#poll-detail) for 120dB Films RWA.

*GovAlpha:*
- Had the delegation UI soft-launch on Monday.
- First budget draft was complete. Expect it on the forums next week.
- Still working on the forum tag project. 

### Forum

[Forum at a Glance: August 30th - July 5th](https://forum.makerdao.com/t/forum-at-a-glance-july-30th-august-5th/9708)

### Protocol Engineering

*In summary, headline priorities:*
1. ClipperCallee implementation for SushiJoin.
2. DssVest implementation for transferable tokens.
3. DssCharter for Institutional Vaults in parallel with forum post discussion.
4. G-UNI contract and oracle work to support collateral onboarding.
5. D3M: Direct Deposit Module - useful later when rates increase.

*Forum Posts:*
- Executive Spell Postmortem posted (re: correct raising DC on RWA002-A).
- July Month in review links.
- Institutional and Long Term Vaults proposal.

*Documentation:*
- PR checklist for external teams to add collateral to mainnet & Kovan.
- ChainSecurity published Optimism Dai Bridge Audit, no errors…first time ever.

*Layer 2:*
- Successful Optimism test spell cast on Kovan.

*Other:*
- Sam joined the team full-time.
- MATIC will be up on one of the coming Executives.

### Risk

- Published a [post](https://forum.makerdao.com/t/decreasing-liquidation-ratios-analysis/9702) that analysis how lower LR Maker Vaults could affect risk premiums for each Vault. Suggested to decrease LRs by 10% for second-tier Vaults and increase LRs by 5% for first-tier vaults. 
- Began working on a plan for how to offboard unprofitable Vault types. Will likely propose a combination of decreased DCs and increased LRs.
- Proceeding with Vault user behavior dashboard. We also managed to get good farming data on Dai.
- We are writing a sub proposal for MKR compensation for our Core Unit.

### Oracles

- This is our first week operating. We are still in the setup phase.
- We've been focused on the London Hardfork prep. Testing various scenarios, which has been difficult due to the gas price market. Pushing updates to accommodate the new market conditions.
- Still not using the EIP 1559 transactions because we are still relying on 3rd party software and libraries. Unfortunately, support isn't there yet.
- MATIC oracles software and contract are ready. However, the fees are still being deployed. Still on track for next week's executive.
- Began the talent search internally. Many interesting ideas came from the team, which is being constructed into a roadmap.

### Real-World Finance

[Real-World Finance Core Unit Report](https://forum.makerdao.com/t/financial-report-2021-07/9686)
- Centrifuge executive was passed yesterday. It will contain three new RWAs, which will be live this weekend. The public Vaults will be available within the following weeks. 
- Published MIP for RWA Foundations. Still in the process of finalizing.
- We will now be able to provide additional financial reporting with the new full-time hire, Mark Tyler Phillips.

### Growth

[Growth CU weekly update](https://forum.makerdao.com/t/growth-cu-weekly-update-july-30-august-5/9706)
- Paxos posted their proposal to include PAX in the PSM. They speak about including DAI in their platform, which would be a way to offer an on/off ramp for DAI.
- Recommending the community to not include any more stablecoins. We should wait for the Paxos proposal to complete.
- Collateral offboarding conversations continue.
- Mariano posted a [MKR valuation report from Messari](https://forum.makerdao.com/t/makerdao-valuation-report/9710) on the forum.
- Stars of the week uses Bitcoin and Dai donations to support young underprivileged boys.
- Sponsoring a Battle Races game that will be issuing an NFT containing a Maker limited edition branding.
- We shared July's PnL in our weekly update.

### Content Production 

[Content Production Bi-Weekly Update: July 22 to August 4, 2021](https://forum.makerdao.com/t/content-production-bi-weekly-update-july-22-to-august-4-2021/9714)

- Extended the [art contest](https://forum.makerdao.com/t/art-contest-dragon-vs-capybara-a-mascot-for-makerdao/9059) for another week.
- Making progress on the Community Portal, including explainer videos and more content in places such as scripts and storyboards.
- Have been uploading videos on YouTube for Maker Relay. We would like to hear feedback.
- Taken over the [substack](https://makerdaoupdates.substack.com) that Tim Black has previously managed. Have posted copies of Maker Relay on there. Check it out and sign up!
- Have been doing brand research. If you're interested in supporting the MakerDAO brand, please [sign up](https://forum.makerdao.com/t/participate-in-brand-research-support-marketing-efforts-for-makerdao/9341) or contact us.
- Will be posting an accounting update later this week.

### Sustainable Ecosystem Scaling

- Finished the forecast and reporting template for DogFooding Products, which is available in the SES public folder.
- We've released the MKR compensation template.
- We're looking for an analyst/entry-level intern. 
- KYM Session with B.Protocol Declaration of Intent will be on August 11th.

### Governance Communications

- Our immediate priorities are to set up tracking and documentation for all of our active projects and to hire that Engagement Lead so we can begin tackling the other portion of our mandate.
- We are setting up the CU; we still haven’t gotten the first disbursement or the Payroll setup. But it will happen soon (next 1-2 weeks)
- Our office hours are set to Fridays 1800-1830 UTC and are available on the public calendar.
- We are [hiring](https://forum.makerdao.com/t/help-wanted-engagement-lead/9711) a full-time Engagement Lead.

### MIPs

[MIPs Update #47](https://forum.makerdao.com/t/weekly-mips-update-47/9648)

## Other Presentations and Updates

### July Financials

- Decreasing interest income due to lower loan demand and stability fees.
- USDC is equal to or greater than DAI conversion fees due to the reduction of crypto loans.
- Lower crypto volatility driving less liquidation income.
- Workforce expenses are negative for the month but should improve as more Core Units emerge.
- ETH dependency is flat at 83% compared to the prior month.
- USDC inflow decreased as crypto loans stabilize.
- Balance sheet continues to grow thanks to liquidity reserves.
- Liquidation business fell significantly.
- On-chain DAI lagged compared to the general crypto market.
- Market share on-chain volume is stable.
- CET1 ratio (risk-weighted assets) increasing faster than risk exposure due to Surplus Buffer increase and continued deleveraging.
- MKR earnings yield went down last few months.
- RWAs grew by 45% to ~4.5M this month!
- Liquidity pool growth doubled, which was mainly driven by the DAIUSDC Vault. 

### B.Protocol Declaration of Intent Primer

- We would like to improve liquidation and LR for WBTC-B and have higher SFs.
- We plan to offer a module on top of the DSR. ​
