---
# System prepended metadata

title: 'Episode #214: November 3rd, 2022'
tags: [G&R]

---

---
tags: G&R
---

# Episode #214: November 3rd, 2022

## Agenda

- [00:00](https://youtu.be/1CldERGVzFM): Introduction
- [1:46](https://youtu.be/1CldERGVzFM?t=106): Votes and Polls
- [3:37](https://youtu.be/1CldERGVzFM?t=217): MIPs Update
- [7:15](https://youtu.be/1CldERGVzFM?t=435): Weekly Forum Recap
- [12:18](https://youtu.be/1CldERGVzFM?t=738): Initiatives Update: GUSD Partnership Update
- [13:47](https://youtu.be/1CldERGVzFM?t=827) Discussion: Crimson Cluster
- [30:55](https://youtu.be/1CldERGVzFM?t=1855): Discussion: Viridian Cluster
- [00:00](): Conclusion

## Video

[Link](https://youtu.be/1CldERGVzFM)

## General Updates

### Votes

#### Patrick_J

[1:46](https://youtu.be/1CldERGVzFM?t=106)

<sup>**Visit:** [_Voting Portal_](https://vote.makerdao.com/)</sup></sup>

> **Votes:**
> - *Polls:* -- [1:50](https://youtu.be/1CldERGVzFM?t=110)
> - *Executive Proposals:* -- [2:39](https://youtu.be/1CldERGVzFM?t=159)

### MIPs

#### Gala

[3:37](https://youtu.be/1CldERGVzFM?t=217)

<sup>**Visit:** [_Weekly MIPs Update #111_](https://forum.makerdao.com/t/weekly-mips-update-111/18610)</sup>

[MakerDAO Votes and Polls Public Calendar](https://calendar.google.com/calendar/embed?src=bdf4un05hpg0611lg3ieue4t3c%40group.calendar.google.com&ctz=America%2FNew_York)

<sup>**Important Dates:** _Formal Submission Window Opens Nov 7<sup>th</sup>. New Proposals must be posted Dec 7th_</sup>

> **Proposals in RFC:**
>  - _Core Unit Budgets_ -- [3:48](https://youtu.be/1CldERGVzFM?t=228)
>  - _Top Level MIPs_ -- [4:19](https://youtu.be/1CldERGVzFM?t=259)
>  - _Other Subproposals_ -- [5:26](https://youtu.be/1CldERGVzFM?t=326)

### Weekly Forum Recap

#### Artem Gordon

[7:15](https://youtu.be/1CldERGVzFM?t=435)

<sup> **Visit:** [_Weekly Forum Recap: October 27<sup>th</sup> - November 2<sup>nd</sup>, 2022_](https://forum.makerdao.com/t/weekly-forum-recap/16247/29)</sup>

> **News & Announcements:**
> - [Technical Update for the 2nd November Executive](https://forum.makerdao.com/t/technical-update-for-the-2nd-november-executive/18630)
> - [Starknet Bridge Upgrade](https://forum.makerdao.com/t/starknet-bridge-upgrade-withdrawals-deposits-will-be-deactivated-for-24-48h-as-of-oct-30/18538)
> - [Forum Maintenance Announcement](https://forum.makerdao.com/t/forum-maintenance-announcement-friday-28-october-2022-845-utc/18541/1)

> **Discussion:**
> - [Fall of HUSD & Lessons for Maker](https://forum.makerdao.com/t/fall-of-husd-lessons-for-maker/18589)
> - [Drinks w/ Delegates: Endgame MetaDAO Scaling ft. Nadia](https://forum.makerdao.com/t/how-the-endgame-metadaos-will-scale-faster-with-nadia-of-the-makerdao-growth-core-unit-drinks-with-makerdao-delegates/18537)

## Initiatives Update

### GUSD Partnership Update

#### Sebastian Derivaux

[12:18](https://youtu.be/1CldERGVzFM?t=738)

https://forum.makerdao.com/t/gusd-makerdao-partnership-announcement/18140

- Gemini has approved the payment flow for the rewards. Funds will be received in December and transferred directly to MakerDAO without needing a legal entity. They will pay an annual rate of 1.25%. 

## Discussion

### Crimson Cluster

#### hexonaut

![](https://i.imgur.com/n1RvLTZ.png)

[14:46](https://youtu.be/1CldERGVzFM?t=886)

- We want to work with other crypto projects, vertically incorporate them under MKR, and support DAI as a first-class citizen. Our first project is an advanced money market. 

[16:09](https://youtu.be/1CldERGVzFM?t=969)

#### Q&A

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

[20:17](https://youtu.be/1CldERGVzFM?t=1217)

- **Patrick_J:** Do you have plans for cross-chain as part of Crimson?
    - **Hexonaut:** Absolutely!! We need to get multi-chain support for accounting and the vault engine.

[22:17](https://youtu.be/1CldERGVzFM?t=1337)

- **ElPro:** How do you plan to implement ALM strategies? 
    - **Hexonaut:** We have yet to think much about this, but it's something to consider in the future.

[24:28](https://youtu.be/1CldERGVzFM?t=1468)

- **Matt:** How do you jump-start the community of token holders for the Creator DAO beyond farming? Is there a natural fit for community contributors?
    - **Hexonaut:** Some may farm for speculation, others for community engagement. The initial release will offer the best features and rates within the market to bootstrap everything.

[26:08](https://youtu.be/1CldERGVzFM?t=1568)

- **Tim Black:** Are you having algorithmic rates for the lending engine? 
    - **Hexonaut:** Yes, for the lending engine. However, for the collaterals, we will use other lending markets like Aave, Compound, etc.

[27:30](https://youtu.be/1CldERGVzFM?t=1650)

- **ElPro:** How does your cluster envision ecosystem actors helping out both within and outside? 
    - **Hexonaut:** The team is meant to be administrative, where we pool these actors together. We will be contracting them. 

[30:11](https://youtu.be/1CldERGVzFM?t=1811)

- **David Utrobin:** Is Crimson Cluster expecting to be its MetaDAO? Do you plan to join others? 
    - **Hexonaut:** Standalone MetaDAO.

## Discussion

### Viridian Cluster

#### Alan Peterson

[30:57](https://youtu.be/1CldERGVzFM?t=1857)

**Viridian Cluster Overview Presentation:**

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

![](https://i.imgur.com/85R0I8q.png)

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

![](https://i.imgur.com/WEP8swG.png)

![](https://i.imgur.com/6mIihc9.png)

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

![](https://i.imgur.com/2SHLnA2.png)

![](https://i.imgur.com/Dyl7gDy.png)

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

![](https://i.imgur.com/3lP2feE.png)

![](https://i.imgur.com/WzPY73l.png)

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

![](https://i.imgur.com/lhJN0QE.png)

![](https://i.imgur.com/i6pW79t.png)

#### Q&A

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

[47:29](https://youtu.be/1CldERGVzFM?t=2849)

- **ElPro:** How is your cluster thinking on the possibility of going risk-on and partnering with arrangers who go after riskier opportunities?
    - **Allan:** If there's capital for that, we will try to do that. At the moment, given the current situation, we will not be increasing the risk.

[51:25](https://youtu.be/1CldERGVzFM?t=3085)

- **ElPro:** How do you plan on hedging risk for the residential mortgage-backed securities when exposed to it via arrangers?

[57:26](https://youtu.be/1CldERGVzFM?t=3446)

- **David Utrobin:** Given the current environment, why not go all-in to earn over 4% with minimal risk?
    - **Sebastian:** We could, but the potential problem is that we will have to give back part of this cash flow by increasing the DSR. 

[1:00:36](https://youtu.be/1CldERGVzFM?t=3636)

- **David Kret:** All these MIPs are in Maker Core. How do you envision vault adoption taking place from a technical perspective?
    - **Allan:** We're still determining. We know it will take place, but the technical features will be developed over the next months. These are still very early stages.

[1:01:50](https://youtu.be/1CldERGVzFM?t=3710)

- **David Utrobin:** To what extent can you be a true DAO while engaging with entities and regulators?

[1:10:16](https://youtu.be/1CldERGVzFM?t=4216)

- **David Utrobin:** Is the Viridian Cluster responsible for risk assessments regarding its RWA deals?
    - **Rajiv:** I believe so, but we are only a few weeks in and building the team for this.

[1:11:35](https://youtu.be/1CldERGVzFM?t=4295)

- **David Utrobin:** Is the Viridian Cluster intending to be its metaDAO?
    - **Allan:** If we can all find a good way to work together, there's an opportunity for cross-cluster sharing. But Viridian can work on its methods for asset management strategies to support DAI stability and growth.

[1:14:56](https://youtu.be/1CldERGVzFM?t=4496)

- **David Utrobin:** Has anyone considered what happens to the protocol if any of the 'horses' go insolvent?
    - **Allan:** We've built it to be highly unlikely. However, each arrangement is very solid and has a very low probability of losing a large amount of value.

[Suggestion Box](https://app.suggestionox.com/r/GovCallQs)

## Credits
- Artem Gordon produced this summary.
- Larry Wu produced this summary.
- Everyone who spoke and presented on the call.
