Weekly Relay | October 14 - 19, 2022

--- tags: Weekly Relay --- # Weekly Relay | October 14 - 19, 2022 ![](https://i.imgur.com/YFLdm7u.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, @nothsa, @Sol_Invictus, and @Artem_Gordon ##### [Online PDF version]() --- ## :fire: **CURRENT EVENTS**  ### [**Endgame, Clean Money and Nuclear Energy :atom_symbol:**](https://forum.makerdao.com/t/purpose-2-0-endgame-clean-money-and-nuclear-energy/18421) This thread sees @rune expand on the Endgame Plan's goals, motivations, and integrations. **Summary of definitions and motivations** To begin, the Endgame Plan grew out of the original case for Clean Money, "which focused on the critical importance of "Spark" in DAO governance." Here, *Spark* is defined as an individual or team's drive, interest, and commitment to the DAO and its central purpose. > "It's the thing that drives individuals to act according to shared community interests rather than their personal [agendas]." Further, this *spark* must come from a shared purpose beyond personal enrichment. The DAO's purpose must extend beyond simple profiteering and the enrichment of its token holders. Similarly, the DAO must also adhere to a purpose that deemphasizes its direct, local, and short-term interests in favor of the shared interests of a much broader group. **The challeneges of Clean Money 1.0 summarized** The original concept called for Maker to utilize its immense potential for allocating RWA collateral, thus ensuring that climate-aligned investments could make a tangible impact. However, two significant developments altered these initial assumptions: 1. **Political complexity** Initially, the sheer implementation complexity was not yet understood, and attention shifted towards less "complex" and "credit-like" solutions. However, this was still just an attempt to copy and paste existing TradFi processes, and it soon became clear that the design and implementation of entirely new models would be extraordinarily difficult. 1. **Regulatory deterioration** > "Secondly, the window of opportunity that would allow Maker to significantly impact the trajectory of crypto regulation closed with the disappointing lack of tangible progress in the last crypto bubble (including Maker’s inability to deliver on Clean Money). > > Instead of recognition as a promising technology that could help solve humanity’s problems, crypto became further branded as good for nothing other than scams and bubbles, exemplified by the collapse of Terra, Celsius, and 3AC." **Purpose 2.0** The new iteration introduces a more flexible and adaptive model that can "provide purpose and public goods for many different social impact causes, while also boosting the MetaDAOs brands, meta and governance readiness." > "The first requirement of Clean Money 2.0 is that it must be simple and not get in the way of RWA processes by introducing brand-new concepts or complexity. > > The second requirement is to prioritize the internal benefits to the meta of the Maker community rather than prioritize influencing regulatory developments. It should, of course, still be seen as an essential factor in proving Maker's value to society, but this should not be the primary goal. **Proposed solution** * A simplified version of Clean Collateral. An example of this comes in the form of ETH and stETH, which -- post-merge -- are now near carbon neutral. That said, on its own, carbon neutrality isn't enough to move the needle. Under the new scope, Maker itself "must use its global scale and powerful economic potential to make its mark in the short-term." To that end, current geopolitical circumstances grant a unique opportunity to make a meaningful impact without overextending Maker Governance. > "Supporting the advocacy of nuclear power as the completely neglected but most important short-term measure of the sustainable energy transition." This, the post posits, is the ideal starting point for "Purpose 2.0", as it grants MKR holders a narrow scope with minimal complexity to deliver on Clean Money. The full post can be found [**here**](https://forum.makerdao.com/t/purpose-2-0-endgame-clean-money-and-nuclear-energy/18421) or via the above link.* ### [**a16z's Thoughts on Endgame**](https://forum.makerdao.com/t/a16z-endgame-thoughts/18412) Posted by @Porter_Smith, this thread offers a16z's thoughts on the current state of the Endgame Plan. **Summarized commentary** The Endgame Plan addresses the need, partly based on political uncertainties, for an optimal organizational design, a long-term growth strategy, and a framework to incentivize internal innovation. A16z feels these debates funnel into one fundamental question: ***How can we increase MakerDAO’s decentralization while best optimizing long-term growth?*** > "Given that DAI’s most valuable characteristic is its decentralization, we believe that putting MakerDAO on a long-term path to legal, technical, and economic decentralization through the workforce (legal), the customer (technical), and the product (economic) will provide a strategic direction that can help frame other operational decisions by the community." **Decentralization summary** @Porter_Smith believes the Core Unit structure is already (arguably) legally decentralized, as many are wrapped in an LLC, and the managerial efforts of others direct none. Along that vein, the post offers another guiding question. > "...Do we need to externally restructure how Core Units work, per the Endgame Plan, or implement community-driven internal changes to improve accountability, efficiency, and output?" @Juan's recent post on [**project-based budgeting**](https://forum.makerdao.com/t/project-based-budgeting/17121) was presented as an example of increasing CU performance without introducing organizational risk. **Techincal: Minting DAI summary** This section points to @psychonaut's recent post, [**Toward decentralized frontend hosting**](https://forum.makerdao.com/t/toward-decentralized-front-end-hosting/18265) as a means to increase DAI circulation organically. > "For MakerDAO, more technical decentralization practically means “who can enable users access to DAI after depositing collateral?” Or, “how can we incentivize as many access points to DAI generation as possible?” Currently, such frontends exist; however, incentivizing more could lead to more resilient technical decentralization." Such incentivization could be achieved through a commission-based model, similar to the strategy deployed by Liquity. Ideally, these schemes would be sufficient in enticing devs to build frontends that offer utility for the multi-chain deployment of DAI, similar to Yearn's approach. **Economic: What backs DAI summarized** > "Collateral sits on a spectrum of decentralization, and centralized collateral has inherent risks because it can be frozen or blacklisted by another party. If MakerDAO issues 1B DAI against collateral that is subsequently blacklisted, the system is now insolvent, which is an existential risk to the long-term continuity of the project." *The post offers three solutions that address this lingering issue:* 1. Only accept “sufficiently decentralized” collateral types, such as Ethereum and certain derivative products. 2. Continue to accept a certain amount of collateral types with centralization risks (USDC, wBTC, etc.) and decrease their usage over time. 3. Embrace that MakerDAO will have to accept some centralized collateral and put caps on it. Over time, any collateral that meets these criteria would have to be backed by the same amount of DAI in the Surplus Buffer. To conclude, a16z stressed their continued involvement in developing the Endgame Plan. > "The Endgame Plan incorporates different innovations designed to drive MakerDAO forward; we will deliberately evaluate each piece separately through the lenses proposed above. > > We will support MIPs that we believe will contribute to the decentralization of the protocol. We will vote against MIPs that do not meet this threshold in their current form. We also support experimentation through smaller, self-contained proposals to get a baseline for how proposed changes might work (or not) in practice. *To read the whole post, [**click here**](https://forum.makerdao.com/t/a16z-endgame-thoughts/18412).* ### Two New MetaDAO Clusters! ✌ Earlier this month, we've already witnessed the push toward MetaDAOs with both the [**Crimson**](https://forum.makerdao.com/t/crimson-creator-cluster/18241) and [**Viridian**](https://forum.makerdao.com/t/viridian-cluster-introduction/18332) clusters proposed for governance approval. Nevertheless, this looks to be the beginning of a potential snowball effect as *two more* clusters were introduced this week. These are dubious yet exciting times for Maker! ![](https://i.imgur.com/E6OhzKz.jpg) #### [**TaiDai Cluster:**](https://forum.makerdao.com/t/tiedai-creator-cluster/18369) Firstly, TaiDai clarifies that its proposal will become formal once Endgame tokens have been distributed and Maker's governance process is capable of independent decisions. Introduced to you through inspiration and by the creators of Daivinity, TaiDai aims to improve the Maker brand by leveraging events, parties, and the existing relationships built and to-be-built. However, brand awareness also offers opportunities for additional revenue (as we've seen from past Daivinity events) that TaiDai is willing to help capitalize on. No longer will we be called the "Boomer Protocol." It's time to set the narrative straight and put Maker on top of the hot list. It may not be easy, especially with the complete decentralization of independent clusters; collaboration may be a difficult feat, but TaiDai proposes to utilize the power of strategic alliance by engaging with other MetaDAOs, Maker itself, and web3 partners from around the world. The Daivinity team has already proven itself... but this is just the beginning of a new era 🚀 #### [**Spring Cluster:**](https://forum.makerdao.com/t/spring-cluster-introduction-and-proposal/18398) Our fourth Cluster proposal, posted by @Centrifuge and @Blocktower, hit the Forum this week. Dubbed the *Spring Cluster*, the team aims to "enable the future Protector to build the long-term capability that enables Dai to meet real-world business needs openly and transparently." The team believes that bringing DAI to the real world is the critical step in its economic success, political acceptance, and its impact on the lives of everyday people and businesses. > "BlockTower, working with Centrifuge, will be the initial arranger within the Protector. Together, we will create repeatable, scalable, and reliable frameworks for on-chain RWA investments. > > This cluster envisions expanding to include like-minded, technology-driven, impact-focused partners aligned to deliver real-world value promptly and safely. Following the lead taken by Maker Growth in Latin America, this cluster will dedicate time and resources to building out the adoption of Dai in emerging markets, such as Dai investments in Africa, Southeast Asia, and other emerging market countries. **Summary of the proposed mandate** * Source, underwrite, structure, and manage deals that protect Maker’s interests, enable Dai’s growth in the real world, and foster the adoption of technologies that make transactions more efficient and open than before. * Fully leverage the power of blockchain technology to break through the limitations of existing financial infrastructure. This can be done by pushing more data on-chain, enabling additional automation via smart contracts, and increasing *authenticity* through a shared, digital ledger. *The Cluster's general flow would track as follows:* ![](https://makerdao-forum-backup.s3.dualstack.us-east-1.amazonaws.com/optimized/3X/c/2/c2d9eddba4bf9504d90bb6d9a9b376e30f7f4e3c_2_602x229.jpeg) *The full proposal can be found [**here**](https://forum.makerdao.com/t/spring-cluster-introduction-and-proposal/18398).* 🙏 Huge thanks to @alec for writing these summaries! --- ## 🏛 This Week in Governance ### **[Weekly MIPs Update #109](https://forum.makerdao.com/t/weekly-mips-update-109/18404)** *Ratification polls, proposals, and pre-MIP discussions.* ### Executive Vote(s) #### **Hot off the press!** > [**Enable DC-IAM for RWA-007-A (Monetalis Clydesdale), GUSD PSM Parameter Changes**](https://vote.makerdao.com/executive/template-executive-vote-enable-dc-iam-for-rwa-007-a-monetalis-clydesdale-gusd-psm-parameter-changes-october-13-2022) – _Posted on October 18th, 2022. Expires at November 17th, 2022, 20:05 UTC._ <details><summary> If this Executive Proposal passes, the following changes will occur within the Maker Protocol:</summary> - As per the [technical assessment](https://forum.makerdao.com/t/rwa007-mip65-monetalis-clydesdale-ces-domain-team-assessment/17787) by the Collateral Engineering Services Core Unit ([CES-001](https://mips.makerdao.com/mips/details/MIP39c2SP20)) for the approved [MIP65: Monetalis Clydesdale](https://mips.makerdao.com/mips/details/MIP65), a Debt Ceiling Instant Access Module (DC-IAM) will be added to RWA-007-A: - [Maximum Debt Ceiling (`line`)](https://manual.makerdao.com/module-index/module-dciam#maximum-debt-ceiling-line): **250 million DAI**. - [Target Available Debt (`gap`)](https://manual.makerdao.com/module-index/module-dciam#target-available-debt-gap): **50 million DAI**. - [Ceiling Increase Cooldown (`ttl`)](https://manual.makerdao.com/module-index/module-dciam#ceiling-increase-cooldown-ttl): **1 week (604,800 seconds)**. - As per this successful governance [poll](https://vote.makerdao.com/polling/QmYffkvR#vote-breakdown), the following parameter changes will be made to the GUSD PSM (PSM-GUSD-A): - Increase the [Maximum Debt Ceiling (`line`)](https://manual.makerdao.com/module-index/module-dciam#maximum-debt-ceiling-line) from 60 million DAI to **500 million DAI**. - Increase the [Target Available Debt (`gap`)](https://manual.makerdao.com/module-index/module-dciam#target-available-debt-gap) from 10 million DAI to **50 million DAI**. - Increase the [Fee Out (`tout`)](https://manual.makerdao.com/module-index/module-psm#fee-out-tout) from 0 to **20 bps**. </details> #### **Passed Last Week:** > [**Collateral Auction Parameter Changes, MOMC Parameter Adjustments, Recognized Delegate Compensation for September**](https://vote.makerdao.com/executive/template-executive-vote-collateral-auction-parameter-changes-momc-parameter-adjustments-recognized-delegate-compensation-for-september-october-14-2022) – _Passed on October 14th, 2022, 16:31 UTC. Executed on October 16th, 2022, 16:33 UTC._ <details><summary> This Executive Proposal passed, and the following changes occurred within the Maker Protocol:</summary> - Multiple Collateral Auction Risk Parameters were changed. - Parameter adjustments from the [latest proposal](https://forum.makerdao.com/t/parameter-changes-proposal-ppg-omc-001-29-september-2022/18143) from the [MakerDAO Open Market Committee](https://forum.makerdao.com/t/parameter-proposal-group-makerdao-open-market-committee/7355) were made. - A total of **120,490 DAI** were paid to eighteen Recognized Delegates. </details> ### Active Poll(s) #### **Ratification Poll(s)** – _Posted on October 10th, 2022. Ending at October 24th, 2022._ | Poll Name | Discussion| |:---------:|:----------: | [Endgame Prelaunch MIP Set](https://vote.makerdao.com/polling/QmTmS5Nf) | [Discussion](https://forum.makerdao.com/tag/endgame-prelaunch-mip-set) | [Offboarding the Strategic Happiness Core Unit](https://vote.makerdao.com/polling/QmdUv8LB) | [Discussion](https://forum.makerdao.com/t/mip39c3-sp3-offboarding-the-strategic-happiness-core-unit-sh-001/17754) | [Offboarding the Events Core Unit](https://vote.makerdao.com/polling/QmbP2XdV) | [Discussion](https://forum.makerdao.com/t/mip39c3-sp4-offboarding-the-events-core-unit-events-001/17755) | [Offboarding the Real-World Finance Core Unit](https://vote.makerdao.com/polling/QmX68eHn) | [Discussion](https://forum.makerdao.com/t/mip39c3-sp5-offboarding-the-real-world-finance-core-unit-rwf-001/17753) | [Coinbase USDC Institutional Rewards](https://vote.makerdao.com/polling/QmbMaQ9A) | [Discussion](https://forum.makerdao.com/t/mip81-coinbase-usdc-institutional-rewards/17703) | [Monetalis-Coinbase Appaloosa](https://vote.makerdao.com/polling/QmRVN2SB) | [Discussion](https://forum.makerdao.com/t/mip82-monetalis-coinbase-appaloosa/17768) | [Legal And Commercial Risk Domain Work on Greenlit Collateral BlockTower Credit - RWA Arranger SPF](https://vote.makerdao.com/polling/QmcV2pMZ) | [Discussion](https://forum.makerdao.com/t/mip55c3-sp9-legal-and-commercial-risk-domain-work-on-greenlit-collateral-blocktower-credit-rwa-arranger-spf/17776) | [Facilitator Offboarding Process Adjustments](https://vote.makerdao.com/polling/QmYgLJ1q) | [Discussion](https://forum.makerdao.com/t/mip4c2-sp26-facilitator-offboarding-process-mip41c5-adjustments/17592) | [Facilitator Offboarding - RWF-001](https://vote.makerdao.com/polling/QmRp4bDt) | [Discussion](https://forum.makerdao.com/t/mip41c5-sp12-facilitator-offboarding-rwf-001/17332) ### Finished Poll(s) #### :X: **Not Passed** | Poll Name | Vote Breakdown | End Date | | :-------------: | :------------: | :--------: | | [ANCHORAGE](https://vote.makerdao.com/polling/QmWUL19K)|![](https://i.imgur.com/oRbalQU.png)| October 17th, 16:00 UTC| --- ## :phone: **Meetings and Events**  **Last Week's Call Recordings:** - [Know Your MIP - MIP86 - CoinShares Treasury Investment Proposal](https://www.youtube.com/watch?v=2rTpyLEq6yg&ab_channel=MakerDAO) **Upcoming Calls:** - Delegate Office Hours | [Join Call](https://us02web.zoom.us/j/88920093364) | 10/20 1600 - Governance & Risk 212 | [Forum](https://forum.makerdao.com/t/governance-and-risk-212-thursday-october-20-at-17-00-utc/18427/1) | [Join Call](https://zoom.us/j/697074715) | 10/20 1700 - Know Your MIP - MIP87 - OUSD Decentralized Rewards | 10/25 1500 - Meet Your Delegate - CalBlockchain & Consensys | [Forum](https://forum.makerdao.com/t/meet-your-delegate-21-calblockchain-daostrat-c/18418) | [Join Call](https://www.google.com/url?q=https://us02web.zoom.us/j/84712442540?pwd%3DYkdXTWZLRnlpcFh5TXVJV29ob2NBUT09&sa=D&source=calendar&ust=1666638443465432&usg=AOvVaw1wo2BfS3RpKrq3rIRQ1v3n) | 10/26 1730 --- ### 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](meet.google.com/frj-vpji-huc) | Immunefi Security - Every Other Monday at 23:00 UTC | Alternative [Join Link](https://makerdao.bigbluemeeting.com/adm-eox-jtz-tsi) - Every Other Wednesday at 15:00 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://meet.google.com/vmp-jiwx-nkn) | Strategic Finance (bIBTA SPF) | Tuesday, August 30th at 17:00 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/kwf-qayf-xdq) | Real World Finance - Every Other Wednesday at 18:00 UTC - [Join Link](https://meet.google.com/nio-jrqq-guu) | Governance Communications - Fridays at 18:00 UTC ## ⚓ **Resources** <details><summary>Open List</summary> > [All Available Dashboards](https://forum.makerdao.com/t/all-available-dashboards/16104) > [All Available Guides](https://forum.makerdao.com/t/all-available-guides/16159) > [Calls Calendar](https://forum.makerdao.com/t/the-calls-calendar/16095) > [Forum](https://forum.makerdao.com) and [Maker Discord](https://discord.gg/YtBXXYuVDB) > [Governance Dashboard Tracker](https://www.makerdao-governance-dashboard.com/tracker) | [Google Sheet Version](https://docs.google.com/spreadsheets/d/1LWNlv6hr8oXebk8rvXZBPRVDjN-3OrzI0IgLwBVk0vM/edit#gid=0) > > [Forum discussions - Governance Dashboard](https://www.makerdao-governance-dashboard.com/tracker/forum-discussions) > [Know Your MIP Index](https://forum.makerdao.com/t/know-your-mip-index/6768) > [Learning Portal](https://community-development.makerdao.com/en/learn/) and [Technical Documentation](https://docs.makerdao.com/) > [MakerDAO’s Discord Servers](https://forum.makerdao.com/t/makerdaos-discord-servers/16110) > [MakerBurn](https://makerburn.com/#/rundown) > [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> ### Disclaimer *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.*