---
# System prepended metadata

title: 'Collateral Onboarding Call - Episode #40'

---

# Collateral Onboarding Call - Episode #40
April 26th, 2022

## Agenda

- [00:00](https://youtu.be/FsaSbsYvKlg): Intro with Retro
- [00:49](https://youtu.be/FsaSbsYvKlg?t=49): StakeWise sETH2 with Jordan Sutcliffe
- [17:51](https://youtu.be/FsaSbsYvKlg?t=1071): Q&A and Discussion about StakeWise sETH2

## Video

<https://youtu.be/FsaSbsYvKlg>

## Introduction

### Retro

#### Agenda and Preamble
[00:00](https://youtu.be/FsaSbsYvKlg)

- Welcome everyone to episode #40 of Collateral Onboarding Call at MakerDAO. I am Retro from the Sustainable Ecosystem Scaling CU. I am joined by our facilitator Juan. Today we have Jordan Sutcliffe from StakeWise DAO to talk about a new collateral that is being proposed for onboarding into our ecosystem. Stakewise is a tokenized staking pool whose interest-bearing token is sETH2.
- Discussions about collateral happen in the [Forum.](https://forum.makerdao.com/c/risk/collateral-meetings/23)

## StakeWise sETH2

- [[sETH2] Collateral Onboarding Application (MIP6)](https://forum.makerdao.com/t/seth2-collateral-onboarding-application-mip6/14371)

### Jordan Sutcliffe

#### Presentation
[00:49](https://youtu.be/FsaSbsYvKlg?t=49)

![StakeWise - Liquid ETH2 Staking](https://i.imgur.com/SIF9vc9.png)

![Who we are](https://i.imgur.com/zwAbJUv.png)

![Dual Token Model](https://i.imgur.com/XlC9TuV.png)

![Staking Infrastructure](https://i.imgur.com/XVOpdFR.png)

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

![Considerations](https://i.imgur.com/dynpD9I.png)

![sETH2 on Maker](https://i.imgur.com/R7qnl5a.png)
 

#### Discussion

[17:51 - Frank: I saw a slide at an EthDenver presentation comparing all the StakedETH providers, and StakeWise had 90%+ of Prysm Usage. When did you reduce it to 50/50? How difficult was it to reduce the Prysm Usage without incurring slashing? Why most taking facilities are so dependent on Prysm?](https://youtu.be/FsaSbsYvKlg?t=1071)

[20:26 - Retro: How is the DAO preparing for the merge? Are there any other challenges you could anticipate, or do you see it going smoothly?](https://youtu.be/FsaSbsYvKlg?t=1226)

[21:58 - Juan: How big is the DAO? To have an idea of how that would be a potential surface attack in terms of vulnerabilities.](https://youtu.be/FsaSbsYvKlg?t=1318)

[24:43 - Juan: Do you have any ideal risk parameters to get this started? Do you have any idea of the debt ceiling or the stability fee you would like?](https://youtu.be/FsaSbsYvKlg?t=1483)

## Closing Comment

### Retro

#### Outro
[26:16](https://youtu.be/FsaSbsYvKlg?t=1576)

- The voting for this Collateral Onboarding is in progress. There are about six days left, and we already have a strong vote of confidence from the community. Jordan is available in the forums as @Jstar. I appreciate everybody's attendance today. Thank you, Jordan. It was great having you!

## Credits

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