---
# System prepended metadata

title: 'August 25 - 31, 2022'
tags: [Forum at a Glance]

---

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tags: Forum at a Glance
---

# August 25 - 31, 2022

![](https://i.imgur.com/1elRBZi.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 and Artem_Gordon* 

###### Online PDF Version available [here.](https://pdfhost.io/v/aIQcV2I0L_Forum_at_a_Glance_August_25_31_2022)

---
## Three-Point Summary

‘What is the most relevant information on the forums this week for MKR and Dai holders?’

**1.** @rune [**published**](https://forum.makerdao.com/t/endgame-approval-mip-set-next-steps/17553) an outline of the Endgame Approval MIP Set, which is set to be posted to the forum by next Wednesday.
**2.** The Collateral Engineering Services Core Unit [**shared**](https://forum.makerdao.com/t/collateral-onboarding-and-management-update/17441) their thoughts on the current situation with respect to MakerDAO's collateral onboarding practices.
**3.** The MOMC proposed its [**first multi-option parameter change proposal,**](https://forum.makerdao.com/t/parameter-changes-proposal-ppg-omc-001-25-august-2022/17448) which is currently on-chain for its final voting hours. 

---
## News and Announcements

##### Governance & Delegation :arrow_down_small: 

> [**Delegate Office Hours #9 - Includes poll for discussion topic**](https://forum.makerdao.com/t/delegate-office-hours-9-includes-poll-for-discussion-topic/17538)

Delegate Office Hours will be held today, September 1st, at the usual time of 4 pm UTC.

Potential discussion topics include:

![](https://i.imgur.com/Tv5k8uj.png)

**[Zoom](https://us02web.zoom.us/j/88286550832?pwd=dWQzQi9tYlNyemJJS2Nrd2NUdTBoZz09)**
Meeting ID: 882 8655 0832
Passcode: 690611

> [**Special Episode of The Schuppi & El Pro “Meet The Makers” Featuring Derek Flossman of PECU**](https://forum.makerdao.com/t/special-episode-of-the-schuppi-el-pro-meet-the-makers-featuring-derek-flossman-of-pecu/17438)

@ElProgreso and @ultraschuppi have started a new "Meet the Makers" video series! This episode brings on @Derek, Core Unit Facilitator of the Protocol Engineering Core Unit, to talk about L2s, NFTs, his work life as a member of the DAO, and many other topics.

Watch [here](https://www.youtube.com/watch?v=-yQFspXM9dg).

##### Multi-Option Parameter Proposal :arrow_down_small: 

> [**Parameter Changes Proposal - PPG-OMC-001 - 25 August 2022**](https://forum.makerdao.com/t/parameter-changes-proposal-ppg-omc-001-25-august-2022/17448)

The latest parameter change proposal from the [**MakerDAO Open Market Committee**](https://forum.makerdao.com/t/parameter-proposal-group-makerdao-open-market-committee/7355) is the first to propose two different options for ratification.

Option 1 includes a small number of proposed changes expected to result in a relatively small decline in revenue at constant exposure levels:

![](https://i.imgur.com/dER1Hsq.png)

Option 2 would extend Option 1, including all the same changes with the addition of further adjustments aimed at increasing Maker’s market share and collateralization from critical crypto native assets:

![](https://i.imgur.com/byH7SmI.png)

*This proposal went [**on-chain**](https://vote.makerdao.com/polling/QmXHnn2u#poll-detail) on August 29th and ends on September 1st at 16:00 UTC.*

*Current Vote Breakdown:*
![](https://i.imgur.com/C4fh3Yk.png)

##### Collateral Onboarding :arrow_down_small: 

> [**Poll Inclusion Request: HVBank Legal Update**](https://forum.makerdao.com/t/poll-inclusion-request-hvbank-legal-update/17547) 

Several [**changes to the legal text**](https://youtu.be/Rv-lBWmiBLE?t=2017) of the HVB Master Participation Agreement (MPA) have been made. The amendments aim to clarify the types of loans that fall under each loan category and were triggered by several discussions with Ankura Trust Holdings, the calculation agent.

A poll to ratify the changes will occur on Monday, September 5th. As @prose11 [**explains**](https://forum.makerdao.com/t/poll-inclusion-request-hvbank-legal-update/17547/2), a poll is being used over an executive vote to give the community plenty of time to consider the proposed changes and ensure that Recognized Delegates will have a chance to present their views on the topic.

> [**Collateral Onboarding and Management Update**](https://forum.makerdao.com/t/collateral-onboarding-and-management-update/17441)

The Collateral Engineering Services Core Unit recently updated the Collateral Management Lifecycle (CML) diagram:

![](https://i.imgur.com/zC6xQDQ.png)

The post goes on to explain how different aspects of MakerDAO's current situation led to the changes and which areas require the most attention and focus—namely:

* Active collateral applications
* Onboarded collateral
* External collateral relationships with applicants and onboarded projects
* RWA deal signaling

---
## Active Discussions

##### Real World Assets :arrow_down_small: 

> [**6s - Arranger Perspective - Part 4**](https://forum.makerdao.com/t/6s-arranger-perspective-part-4/17453) and [**Part 5**](https://forum.makerdao.com/t/6s-arranger-perspective-part-5/17454)

The 6s Capital team published another pair of posts outlining their perspective on their role as an "arranger" for MakerDAO's path to RWA onboarding. Topics discussed include large onboarding institutions, how Core Units fit into the picture, legal reviews and safeguards, and more.

*6s - Arranger Perspective - [**Part 1,**](https://forum.makerdao.com/t/6s-arranger-perspective-part-1/17322) [**Part 2,**](https://forum.makerdao.com/t/6s-arranger-perspective-part-2/17367) and [**Part 3.**](https://forum.makerdao.com/t/6s-arranger-perspective-part-3/17417) were summarized in [**last week's Forum Recap**](https://forum.makerdao.com/t/weekly-forum-recap/16247/13)*

> [**Centrifuge & Maker: A Partner’s View of Real-World Assets**](https://forum.makerdao.com/t/centrifuge-maker-a-partner-s-view-of-real-world-assets/17439)

This detailed post by @Khan of @Centrifuge reiterates the case for RWA and shares some ideas for strengthening the already successful Centrifuge-Maker partnership.

![](https://i.imgur.com/3yKbahu.png)

##### Endgame :arrow_down_small: 

> [**Endgame Approval MIP Set - next steps**](https://forum.makerdao.com/t/endgame-approval-mip-set-next-steps/17553)

This post from Rune outlines the Endgame Approval MIP Set he will post to the forum by next Wednesday, September 7th. If approved, the Endgame Plan Pregame phase will officially be underway.

Topics covered in this post include recognized launch MetaDAO clusters, the MIP0 Endgame amendment, an optional LDO-to-MKR swap MIP, collateral onboarding special mandates, Protocol Owned Vault emulation activation, and budget reduction.

> [**The Path of Compliance and the Path of Decentralization: Why Maker has no choice but to prepare to free float Dai**](https://forum.makerdao.com/t/the-path-of-compliance-and-the-path-of-decentralization-why-maker-has-no-choice-but-to-prepare-to-free-float-dai/17466)

Another post from Rune explains his views on why DAI should free float away from USD at a "stable, predictable rate that feels like negative interest rates." In short, Rune believes that implementing free floating DAI reduces the number of "attack surfaces" available to any regulatory bodies that may, at some point, seek to crack down on MakerDAO.

The Endgame Plan's MetaDAOs and Protocol Owned Vaults can be leveraged as tools to implement this plan.

> [**Endgame Plan timeline to free-floating Dai**](https://forum.makerdao.com/t/endgame-plan-timeline-to-free-floating-dai/17529)

In relevance to the discussion mentioned above, this post by Rune explores the approximate timeline for the different events and phases of the Endgame Plan.

![](https://i.imgur.com/2WgVxyn.png)

##### Engineering :arrow_down_small: 

> [**Bridge hacks review and learnings for Maker teleport**](https://forum.makerdao.com/t/bridge-hacks-review-and-learnings-for-maker-teleport/17549)

In this post, the Core Facilitator of the StarkNet Engineering Core Unit @louismerkle provides an overview of what the team has learned by studying the top nine bridge hacks and how this knowledge can be applied to the Maker Teleport project.

*The key takeaways were:*

- Rollup due diligence:
    - Lack of decentralization in different contexts
    - Declaration of ad hoc design changes and procedures
    - Clarity around the access rules and management of critical pieces of infrastructure
- Development and deployment processes:
    - Nothing should be deployed without a prior audit
    - Public GitHub repositories can leak critical information
    - System affecting authentication and verification
    - Limit ad hoc processes

The following steps include implementing a circuit breaker for pausing minting on L2s and setting up risk parameters, such as withdrawal limits.

*A [recent Executive Proposal](https://vote.makerdao.com/executive/template-executive-vote-hvbank-drawdown-maker-teleport-launch-on-optimism-and-arbitrum-august-31-2022#proposal-detail) has passed on September 1st at 06:00 UTC, which included the Maker Teleport Launch on Arbitrum and Optimism.*

> [**Real World Assets as a Vampire Attack on Crypto**](https://forum.makerdao.com/t/real-world-assets-as-a-vampire-attack-on-crypto/17480)

In this post, @brianmcmichael of the Protocol Engineering Core Unit explains why he believes the implementation of RWA at Maker is harming DAI and "draw\[ing] value from Dai holders and return\[ing] it to the TradFi industries we’re trying to disrupt."

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

---
## Seeking Consensus

‘Yo, do you even signal?’

:exclamation: **ALL SIGNAL REQUESTS END TOMORROW, SEPTEMBER 2ND!**

> [**Promote MIP4c3-SP4 to a Short Ratification Poll**](https://forum.makerdao.com/t/signal-request-promote-mip4c3-sp4-to-a-short-ratification-poll/17445)

GovAlpha posted a signal request promoting [MIP4c3-SP4: MIP65 Amendments](https://forum.makerdao.com/t/mip4c3-sp4-mip65-amendments/17326)—a MIP that would amend MIP65 to [shift](https://forum.makerdao.com/t/mip65-monetalis-clydesdale-liquid-bond-strategy-execution/13148/112) the certification requirement—to a three-day Ratification Poll, as per [MIP4c3](https://mips.makerdao.com/mips/details/MIP4#MIP4c3).

[*GovAlpha’s summary of MIP4c3-SP4 and this SR.*](https://forum.makerdao.com/t/mip4c3-sp4-mip65-amendments/17326/2)

##### Signal expires on **September 2nd.**

###### Current Vote Breakdown:
![](https://i.imgur.com/PvHeRZJ.png)

>[**MKR Pro-Rata Vesting Community Sentiment Poll**](https://forum.makerdao.com/t/signal-request-mkr-pro-rata-vesting-community-sentiment-poll/17350)

This Signal Request aims to gather sentiment regarding compensating former RWF-001 members @Eumenes and @teej with a prorated amount of MKR for their work as part of the Core Unit. The pair spent over 3,000 hours onboarding, negotiating, and structuring Real World Assets for MakerDAO.

They are seeking approval for this pro-rata distribution of MKR tokens. This approval will indicate to the GovAlpha/RWF-001 Facilitator to proceed with the necessary spells to distribute 73.32 MKR to Teej's Ethereum wallet and 48.1 MKR to Eumenes' Ethereum wallet.

##### Signal expires on **September 2nd.**

###### Current Vote Breakdown:
![](https://i.imgur.com/Lqpkcwv.png)

> [**Changing USDC-PSM fees**](https://forum.makerdao.com/t/signal-request-changing-usdc-psm-fees/17304)

As USDC-PSMs continue to operate without fees, @ultraschuppi expresses his concerns. Setting Stability Fees to 0% has been signaled in October 2021 to encourage vault holders to mint DAI from crypto collateral, but it hasn’t helped the stablecoin ratio, instead cutting deeper into our revenues. However, if we were to soft-peg to USD, vault holders might have an opportunity to achieve arbitrage gains, increasing their utilization. 

In response, ultraschuppi proposes to increase both the 'tin' and the 'tout' on the USDC-PSM and asks the community what BPs should these parameters be set at.

##### Signal expires on **September 2nd.**

###### Current Vote Breakdown:
![](https://i.imgur.com/UmyMZ2a.png)

![](https://i.imgur.com/itI1rQO.png)

-----
## 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 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).
