---
# System prepended metadata

title: Community Collateral Onboarding Call (Fellowship Edition)
tags: [Collateral Call]

---

---
tags: Collateral Call
---

# Community Collateral Onboarding Call (Fellowship Edition)
October 22th, 2020

## Agenda

- [00:00](https://www.youtube.com/watch?v=DGU7_ebEDkQ&t=0): Intro with Juan Guillén
- [01:04](https://youtu.be/DGU7_ebEDkQ?t=64): Kleros with Federico and William
- [13:27](https://youtu.be/DGU7_ebEDkQ?t=807): Q&A and Discussion about Kleros

## Video

<https://www.youtube.com/watch?v=DGU7_ebEDkQ>

## Introduction

### Juan Guillén

#### Agenda and Preamble
[00:00](https://www.youtube.com/watch?v=DGU7_ebEDkQ&t=0)

- Welcome to another collateral onboarding call. I consider it a collateral onboarding call since it has to do with the Fellowship that the Maker Foundation and Kleros have announced recently.
- Today it is my pleasure to have Federico from Kleros, co-founder and CEO.
- Discussions about collateral happen in the [Forum.](https://forum.makerdao.com/c/risk/collateral-meetings/23)

## Kleros

- [Kleros/Maker Fellowship on Collateral Legal Assessment Framework](https://forum.makerdao.com/t/kleros-maker-fellowship-on-collateral-legal-assessment-framework/4725)

### Federico and William

#### Presentation
[01:04](https://youtu.be/DGU7_ebEDkQ?t=64)

![Intro](https://i.imgur.com/KtWtrTT.jpg)

![The Web3 ecosystem](https://i.imgur.com/TX2Y1RV.jpg)

![Complete contracts](https://i.imgur.com/VYJw0ks.png)

![Incomplete contracts](https://i.imgur.com/G5ZsB3c.png)

![Smart contracts can't handle disputes](https://i.imgur.com/6PpmZkF.jpg)

![The contract](https://i.imgur.com/ELlnwRa.jpg)

![Escrow](https://i.imgur.com/A3q0mHK.png)

![Arbitrator](https://i.imgur.com/zE9NIeF.jpg)

![Jurors](https://i.imgur.com/gms9Wwu.jpg)

![Jurors interface](https://i.imgur.com/fF2XmEc.jpg)

![Jurors Vote Independently](https://i.imgur.com/fVelWph.jpg)

![Alice wins](https://i.imgur.com/Rx1NMnj.jpg)

![PNK](https://i.imgur.com/xDWepSx.jpg)

![General Court](https://i.imgur.com/vNZzlOP.jpg)

![Incentivizing jurors](https://i.imgur.com/4HvuwDd.jpg)

![Token redistribution](https://i.imgur.com/UH2lT3D.jpg)

![Users trying to game the system](https://i.imgur.com/28NqrDr.jpg)

![Honest users will make money](https://i.imgur.com/XFQXH8t.jpg)

![A DAO court for all DAOs](https://i.imgur.com/CmhEDqH.jpg)

![Securing the DeFI ecosystem](https://i.imgur.com/FZ3DHmC.jpg)

![Fake tokens on Uniswap...](https://i.imgur.com/rdhSI7R.jpg)

![How to decentralize the decision...?](https://i.imgur.com/IWrCCJJ.jpg)

![tokens.kleros.io](https://i.imgur.com/vonXTst.jpg)

![Submit a token](https://i.imgur.com/Psodk2L.png)

![Used submits token](https://i.imgur.com/yjaH8J7.jpg)

![Token accepted](https://i.imgur.com/rb236LP.jpg)

![User submits token](https://i.imgur.com/F9T1tgv.jpg)

![Challenge](https://i.imgur.com/RMj8dvv.png)

![Token challenged](https://i.imgur.com/9llPKmB.jpg)

![Jury, submitter, challenger](https://i.imgur.com/r7loGiz.jpg)

![Rejected](https://i.imgur.com/QA53DoD.jpg)

![Introducing token lists](https://i.imgur.com/x85Z5hU.png)

![Token lists](https://i.imgur.com/54xF5Yn.png)

![Badges](https://i.imgur.com/rIkoX49.jpg)

![ERC20 standard token badge](https://i.imgur.com/8Lpd1oS.jpg)

![Stablecoin badge guidelines](https://i.imgur.com/uZgdmah.jpg)

![The Ethfinex badge](https://i.imgur.com/YJdzEZC.jpg)

![Comprehensive number of items](https://i.imgur.com/VqXes95.png)

![Token listing process](https://i.imgur.com/vlz2OXY.png)

![The Baerchain case](https://i.imgur.com/0srUWip.jpg)

![Scott Bingley](https://i.imgur.com/88V5IUK.jpg)

![The Grid+ case](https://i.imgur.com/72zis6h.jpg)

![A "third party audit"](https://i.imgur.com/HBR9mie.jpg)

![Decentralized compliance for DeFi](https://i.imgur.com/ldQRdm1.jpg)

![Kleros community Telegram](https://i.imgur.com/EaNtV0X.png)

![How can Kleros contribute...?](https://i.imgur.com/A2Wet2r.jpg)

![Make it faster...](https://i.imgur.com/7D2bmTJ.jpg)

![MakerDAO badge](https://i.imgur.com/ZVNQ33A.jpg)

![Assets looking to be onboarded](https://i.imgur.com/aIHgjPC.jpg)

![Kleros/Maker Fellow](https://i.imgur.com/VNvIYoe.jpg)

![6 months](https://i.imgur.com/08aPi95.jpg)

![Goal](https://i.imgur.com/88LZk7r.jpg)

![3,000 DAI/month](https://i.imgur.com/tKITQ9A.jpg)

![Requirements](https://i.imgur.com/hyoDtiL.jpg)

![Apply now!](https://i.imgur.com/DVAQUSP.jpg)

![Requirements](https://i.imgur.com/3XiyEsw.jpg)




#### Discussion

- [13:27 - Juan Guillén: What's the incentive for the person that's proposing the new token? What's their incentive to do that?](https://youtu.be/DGU7_ebEDkQ?t=807)
- [19:57 - Juan Guillén: You mentioned the name of PNK. Where does the name "Kleros" come from? ](https://youtu.be/DGU7_ebEDkQ?t=1197)
- [21:29 - In one of those slides you showed the possibility of disputing maybe travel or crowdfunding. How do you dispute a travel or some crowdfunding that I participated in?](https://youtu.be/DGU7_ebEDkQ?t=1289)
- [25:01 - As an American, the last thing I want to do is do jury duty. How do get over that hurdle to incentivize people to participate in a trial?](https://youtu.be/DGU7_ebEDkQ?t=1501)
- [26:21 - Could you cover a little bit more in detail the listing part of your registering there and how that process actually works?](https://youtu.be/DGU7_ebEDkQ?t=1581)
- [32:08 - My question was also oriented towards some comparison of other frameworks operating in this space. The Cryptocurrency Rating Council rates cryptocurrencies in terms of their propensity to be like a security or not. Have you done any benchmark of how this works or how this is better or improves existing frameworks for assessment of digital assets to be listed on exchanges?](https://youtu.be/DGU7_ebEDkQ?t=1928)
- [36:25 - Juan Escallon: I have a question regarding how judges vote. They are incentivized to vote like the majority. That works a bit differently than traditional court. So, judges don't vote based on their convictions but based on what they think the other think. Am I understanding this correctly?](https://youtu.be/DGU7_ebEDkQ?t=2185)
- [38:01 - Juan Escallon: But how do you avoid group think? It could happen that the collective misses something or thinks wrongly or unjustly](https://youtu.be/DGU7_ebEDkQ?t=2281)
- [40:11 - Juan Guillén: Regarding the badges, the way it was phrased originally it looked like it was more like an Oracle. You mentioned a stablecoin. Would that be an Oracle providing that? Is it purely code or is it the same system where there's jurors? If it is the same system, how stable is a stablecoin? How much margin do you guys accept and is that in the rules or something?](https://youtu.be/DGU7_ebEDkQ?t=2411)
- [41:56 - DeFiFrog: Do you imagine Maker using a system like Kleros to approve collateral types?](https://youtu.be/DGU7_ebEDkQ?t=2516)
- [42:45 - DeFiFrog: Does the Kleros solution the capability to easily apply its decision-making process to other protocols? Would you be able to pull a random set of jurors from the Maker community to gauge their responses rather than PNK holders? Because I'd imagine the incentives are aligned more for Maker community members to decide on collateral types rather than Kleros community members](https://youtu.be/DGU7_ebEDkQ?t=2565)
- [45:04 - Juan Guillén: When there's a deposit and it's challenged, does the reward go to the person who challenged or to the jurors? Or is it split?](https://youtu.be/DGU7_ebEDkQ?t=2704)
- [46:18 - Juan Guillén: I want to know what's your most popular project? What's the best use case that you have right now?](https://youtu.be/DGU7_ebEDkQ?t=2778)
- [47:03 - Juan Guillén: I guess we can move on to the fellowship](https://youtu.be/DGU7_ebEDkQ?t=2823)
- [53:02 - Amy Jung: It's not that the final outcome is a Maker Dai badge. Federico is mentioning that could be a possibility](https://youtu.be/DGU7_ebEDkQ?t=3182)
- [53:39 - DeFiFrog: I read over the fellowship application again and, like you mentioned, it's specific to how we assess collateral; it doesn't specify whether or not we need to include the use of Kleros in that application. Could we make sure that's clear?](https://youtu.be/DGU7_ebEDkQ?t=3219)
- [55:04 - DeFiFrog: What would prevent someone from creating multiple accounts holding PNK to crowd jury pools?](https://youtu.be/DGU7_ebEDkQ?t=3304)
- [56:01 - DeFiFrog: So, the number of PNK determines the weight of your vote. Does the reward for each judgment also depend on the weight of your vote or is it based on equal distribution, on number of votes?](https://youtu.be/DGU7_ebEDkQ?t=3361)
- [57:02 - I guess the ultimate goal of this is to one day have a Maker community compliance department or an officer, where that individual is doing the risk-related duties. Do you agree with that, Amy, or am I completely off?](https://youtu.be/DGU7_ebEDkQ?t=3421)
- [01:01:56 - Juan Guillén: I read somewhere that there were monthly check-ins required. What are you expecting from those reports?](https://youtu.be/DGU7_ebEDkQ?t=3716)
- [01:02:47 - When I go on Uniswap I get the Kleros list and it's bombarded with 40, 50 tokens that I need to add to my Uniswap account. Did Uniswap also do a Fellowship? How did they pick you to do this?](https://youtu.be/DGU7_ebEDkQ?t=3767)
- [01:04:09 - Juan Guillén: There's an issue I see with having a Maker badge. Sometimes, when I try to get projects to come to the collateral calls, it's hard to find someone from the project to come. They do know that they are being considered for Maker, but they don't participate actively. I see that as a problem if someone had to stake a couple Ether to do that](https://youtu.be/DGU7_ebEDkQ?t=3849)
- [01:07:32 - Juan Guillén: Where can people find information about this fellowship and about Kleros?](https://youtu.be/DGU7_ebEDkQ?t=4052)
- [01:08:21 - DeFiFrog: What's the timeline?](https://youtu.be/DGU7_ebEDkQ?t=4101)




## Closing Comment

### Juan Guillén

#### Outro
[01:08:50](https://youtu.be/DGU7_ebEDkQ?t=4130)

- Thank you, Federico, thank you, Amy, and everyone else for attending

## Credits

- @Blimpa produced this summary.
- Everyone who spoke and presented on the call, listed in the headers.