--- tags: Forum at a Glance --- # September 29 - October 6, 2022 ![](https://i.imgur.com/lIZRrAM.png) Welcome to the one-stop shop for everything discussed on the MakerDAO forum. *Summaries reflect our views of the most meaningful activities in MakerDAO. Disagree? Think something should be added? Leave a reply or send a PM.* *Authors: @nothsa, @alec, and Artem Gordon* ###### <small> [Online PDF verson - coming soon]() </small> --- ## Three-Point Summary *‘What is the most relevant information on the forums this week for MKR and Dai holders?’* **1.** Ethereum development studio ConsenSys published their [**Delegate Platform**](https://forum.makerdao.com/t/consensys-delegate-platform/18246), aiming to uphold values like decentralization and transparency as contributors to Maker governance. **2.** Well-known crypto exchange Gemini, which issues the stablecoin GUSD, submitted a [**proposal**](https://forum.makerdao.com/t/gusd-makerdao-partnership-announcement/18140) for a marketing partnership with MakerDAO that could boost revenues. **3.** @hexonaut [**announced**](https://forum.makerdao.com/t/crimson-creator-cluster/18241) the formation of the Crimson Creator Cluster, a proposed Creator MetaDAO that aims to build new products on Maker that take advantage of the low-cost capital available via the D3M. --- ## News and Announcements > [**ConsenSys Delegate Platform**](https://forum.makerdao.com/t/consensys-delegate-platform/18246) Major Ethereum development studio ConsenSys has published its Delegate Platform. The team plans to take a values-based approach to participate in the Maker community, as well as leveraging the expertise of their in-house cryptoeconomics department. The values ConsenSys intends to uphold include the following: * Decentralization * Sovereign individualism * Transparency * Accountability * Authenticity * Open-source contribution > [**GUSD & MakerDAO Partnership Announcement**](https://forum.makerdao.com/t/gusd-makerdao-partnership-announcement/18140) This post from @tylerwinklevoss outlines a proposal for establishing a marketing partnership between MakerDAO and Gemini, the issuer of the Gemini dollar (GUSD). Gemini created this proposal with the Strategic Finance and Growth Core Units. The Gemini is offering to contribute to MakerDAO at a fixed rate of 1.25%, annualized and paid out every month, for any GUSD present in the PSM, with the condition that the average monthly balance on the last day of the month must exceed \$100M GUSD. A [**Signal Request**](https://forum.makerdao.com/t/signal-request-change-psm-gusd-a-parameters/18142) has been submitted regarding modifying specific parameters of PSM-GUSD-A to enable Maker's participation in the incentive program if the proposal is approved. > [**[Poll Notice] Signal Support for Ending DAI Funding for Sourcecred**](https://forum.makerdao.com/t/poll-notice-signal-support-for-ending-dai-funding-for-sourcecred/18204) This post announces an on-chain poll next week to gather sentiment regarding removing DAI funding for Sourcecred. GovAlpha currently spends 3,500 DAI per week on the Sourcecred program, representing about 25% of the Core Unit's DAI expenses. The team believes the program may no longer provide value for the DAO, and both sides of the argument are presented in this post. Some of the reasons presented for discontinuing the Sourcecred program include the following: * GovAlpha's research into identifying positive results from the program has been inconclusive * Participation rewards may worsen the high noise-to-signal ratio on the forum * Administration of the program costs GovAlpha 10-20 hours of work each month Some of the reasons for keeping the program include the following: * May foster enthusiasm for participating in Maker governance * Sourcecred could play a role in MetaDAOS if the Endgame proposals are approved GovAlpha Core Unit Facilitator and author of the post @Patrick_J notes that he believes that the Sourcecred program is not providing value. > [**An Unreal Primer on Real World Assets**](https://forum.makerdao.com/t/an-unreal-primer-on-real-world-assets/18201) This post from @teej announces the publication of an 87-page report diving deep into the world of Real World Assets. Topics covered include the history of RWA tokenization, why RWA tokenization is essential and the opportunities it unlocks, predictions about where the industry is going, and a breakdown and classification of the existing RWA landscape. ![](https://i.imgur.com/A1zFT35.png) The report was sponsored by Polygon, Ondo, and Bril Finance. --- ## Active Discussions > [**Crimson Creator Cluster**](https://forum.makerdao.com/t/crimson-creator-cluster/18241) @hexonaut of the Protocol Engineering Core Unit Team made a post announcing the Crimson Creator Cluster, a group aiming to become the core team of a Creator MetaDAO. The group hopes to build new products on top of Maker, which can offer highly competitive rates due to low-cost capital from D3M injection. > [**Q3 2022 MKR Decentralization, Delegation, and Distribution Update**](https://forum.makerdao.com/t/q3-2022-mkr-decentralization-delegation-and-distribution-update/18247) @lyt, of the Strategic Finance CU, provides a detailed breakdown of selected metrics on the decentralization, delegation, and distribution of the MKR token and governance. > [**StakeWise V3 <> Maker**](https://forum.makerdao.com/t/stakewise-v3-maker/18196) This post by @Jstar informs the community about the upcoming V3 upgrade of StakeWise, which will transition the protocol to full permissionlessness. @Jstar points out several different avenues by which Maker could benefit from the upgrade, such as: * Adding StakeWise's overcollateralized staked ETH token, osETH, as a collateral type * The two-layer architecture enables the minting of any token that requires managed overcollateralized debt positions, including DAI; this means users can access DAI through StakeWise with better capital efficiency * Maker could become a node operator for the StakeWise protocol and stake its ETH to help manage the DAI supply or yield farm > [**How Is Dai Holding Its Peg?**](https://forum.makerdao.com/t/how-is-dai-holding-its-peg/18160) In this post, @puniaviision asks for clarification on how DAI maintains its peg, noting that there appears to be consistent sell pressure due to some of DAI's most natural use cases: ![](https://i.imgur.com/KOVKrqf.png) Another way to phrase the question is, "With the constant sell pressure, how has the PSM not run out of DAI, leading to DAI falling below the peg?" @Twigmaester shared [**another thread**](https://forum.makerdao.com/t/dumb-question-still-dont-understand-what-makes-the-peg-work/12248) asking a similar question, and several forum members stepped in to share their views. > [**The Devcon VI Endgame Kickoff w/Matthew Rabinowitz of 6S Capital, on Drinks with MakerDAO Delegates**](https://forum.makerdao.com/t/the-devcon-vi-endgame-kickoff-w-matthew-rabinowitz-of-6s-capital-on-drinks-with-makerdao-delegates/18171) In this post, our usual hosts @ElProgreso and @ultraschuppi, with the recent hosting addition of @rspa, were joined by Matthew Rabinowitz (@mrabino1) of 6S Capital to talk about the 6S perspective on the Endgame Plan, the state of Real World Assets within the DAO, and other topics. https://www.youtube.com/watch?v=M9bxw4kfvY0 > [**Circuit breaker trade-offs and questions for the community**](https://forum.makerdao.com/t/circuit-breaker-trade-offs-and-questions-for-the-community/18240) In this post, StarkNet Engineering Core Unit Facilitator @badgerofthe9d follows up on [**this post**](https://forum.makerdao.com/t/bridge-hacks-review-and-learnings-for-maker-teleport/17549) sharing what the team learned from studying past token bridge hacks with an overview of an essential part of the team's risk mitigation plan: circuit breakers. Implementing a circuit breaker as part of the StarkNet bridge would enable shutting down the bridge if certain thresholds, such as daily minting and withdrawal limits, are breached. The post goes on to weigh some of the advantages and disadvantages of different methods of implementing a circuit breaker and asks the community for feedback. --- ## Seeking Consensus ‘Yo, do you even signal?’ > [**Change PSM-GUSD-A parameters**](https://forum.makerdao.com/t/signal-request-change-psm-gusd-a-parameters/18142) This Signal Request seeks to gauge interest in changing specific parameters for PSM-GUSD-A to enable participation in Gemini's [**marketing incentive proposal**](https://forum.makerdao.com/t/gusd-makerdao-partnership-announcement/18140). These parameters are: * Adjusting `tout` from 0bps to 20bps * Adjusting `line` from 60M to 500M * Adjusting `gap` from 10M to 50M So far, it looks like the majority of the community is in favor of increasing said parameters: ![](https://i.imgur.com/yFyDjcQ.jpg) **This signal request ran for one week and ends tomorrow, October 7th.** > [**Modify D3M Guidance for MOMC**](https://forum.makerdao.com/t/signal-request-modify-d3m-guidance-for-momc/18069) A [**signal request**](https://forum.makerdao.com/t/signal-request-d3m-parameters-guidance-for-momc/11898) was polled a year ago to set D3M parameters and MOMC guidance. Given the recent merge and declining stETH risk factors, the Risk CU revisits the MOMC framework to inspect any needed modifications. Context: - The `bar` parameter guidance framework is currently highly restrictive against deploying funds into the Aave D3M. - Aave’s DAI borrow rate is currently at ~2.75%, so a `bar` of 2.8% with existing guidance would not result in any DAI deployed. - The effective DAI borrow rate calculated with the current formula at Aave is ~0.95%, well below Maker’s ETH-A rate. - Aave aWETH collateral can be borrowed while Maker ETH vault collateral cannot, which exposes Aave users to tail risk of losing collateral. One suggestion for the Maker community is to consider modifying the rate comparison calculations, which set the `bar` parameter to exclude yield and liquidity incentives earned on user collateral. Two suggested poll questions are given as suggested modifications to the rate comparison calculations: ![](https://i.imgur.com/V9AJ9l2.png) ![](https://i.imgur.com/19Q0hb8.png) **This signal request ran for two weeks and ends today, October 6th.** *MOMC may include an option in the upcoming parameter changes proposal for October that includes changes to the Aave D3M bar outside previously approved guidance. If such an option is considered, the committee will submit at least one other parameter change proposal option that continues to conform to prior D3M guidance.* ----- ## Ongoing Initiatives ‘Oh my god, this is taking ages; why can’t things be simple?’ [Maker Operational Manual](https://manual.makerdao.com/) - GovAlpha Core Unit releases the launch of the Maker Operational Manual and invites all members and Core Units to reach out if they wish to provide any help or documentation to add to the Manual. [Recognized 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) 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.* [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 to them here. [Collateral Status Index](https://docs.google.com/spreadsheets/d/1PDf_CzhGa7mLuOUfX6Bz3WrnCjDRhIjmu-vDZMMw4Qc/edit#gid=1077340672) - Confused about the current status of the various collateral types discussed recently? Check out this sheet 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 thread for welcomes and introductions. Not strictly governance, but if anyone new or old wants to introduce themselves, now is your chance! ----- ## 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).