---
# System prepended metadata

title: 'Meet Your Delegate: CalBlockchain & ConsenSys'
tags: [Meet Your Delegate]

---

---
tags: Meet Your Delegate
---

# Meet Your Delegate: CalBlockchain & ConsenSys

## Agenda

- [00:03](https://youtu.be/axEO50fMujs?t=3): Introduction
- [00:58](https://youtu.be/axEO50fMujs?t=58): CalBlockchain
- [29:23](https://youtu.be/axEO50fMujs?t=1763): ConsenSys
- [59:02](https://youtu.be/axEO50fMujs?t=3542): Conclusion

### Video

https://www.youtube.com/watch?v=axEO50fMujs

## Blockchain at Berkeley (CalBlockchain)

[00:58](https://youtu.be/axEO50fMujs?t=58)

- We have more than 50 active members where we pose our fundamental DeCal courses on edX; we have consulting branch working on various internal & external projects, as well as a research and accelerator that works actively in the blockchain space in the Bay Area. We also organize monthly ecosystem meetups and white paper circles so that we have exposure to our community.
- The club is working on several functions that get us exposure to know what is happening in the real world and what people are concerned about.
- We have the fundamental DeCal dimension, blockchain development, and edX. We have research on DeFi, and our president published a paper in the past about stable simulators, an agent-based simulation, and MakerDAO collateral auctions. We also have projects like zero-knowledge proof, field-programmable gate array (FPGA), etc. We're active in the Grants Program Accelerator for blockchain startups and more.

#### Do you have an entity to limit your legal liability as delegates?

[07:19](https://youtu.be/axEO50fMujs?t=439)

- Yes, blockchain at Berkeley LLC was registered before our time and has been passed off between presidents-presidents. The club was founded in 2014.

#### Have you had any official requests from any regulatory agency?

[09:09](https://youtu.be/axEO50fMujs?t=549)

- As far as I am aware, we have not been asked through official channels for documentation or consultation. We can also check in with the President to ensure we give you an accurate answer.
    - I am fairly positive that we have not been asked officially or probably unofficially, as well, for documentation and consultation around our participation in governance. The reason that I am being hesitant with the answer is there may have been, and I am saying this, and I have never heard anything about this, but if at some point we were asked to provide information about our education department, and like how we're, how we structure our courses, I am unsure if there is anything along those lines, but nothing around governance.

#### Are you just a group or LLC, and do you own any MKR tokens? Will you be looking for outside individuals to delegate to the CalBlockchain delegate platform?

[11:02](https://youtu.be/axEO50fMujs?t=662)

- We do not. However, the LLC does hold some assets. The governance team (us) and the LLC department have their own wallets to manage. Our wallets only hold tokens used for governance voting and gas fees. 

#### Do you see your delegation group getting involved in making proposals at Maker? What areas do you see yourselves fitting into?

[12:16](https://youtu.be/axEO50fMujs?t=736)

- We want to start sponsoring proposals. That includes Compound proposal #89, we also partnered to launch Uniswap on some alternative chains, and we considered doing asset listings on Compound. I think the best course of action for us is to get our feet in and see where we best fit.

#### How would you rate the current delegates at MakerDAO? Are there any improvements you would make to the system?

[17:04](https://youtu.be/axEO50fMujs?t=1024)

- There are a thousand directions we can go, but I would focus on addressing the current set of delegates present. We saw only one recognized delegate vote against the Endgame prelaunch MIP set, which should have been a more controversial voting outcome. We are unpaid students, so we aren't afraid to open up controversial opinions.

#### What was the CalBlockchain take on the Endgame proposal?

[18:56](https://youtu.be/axEO50fMujs?t=1136)

- **Not speaking about the entire club; just myself.** The Endgame confuses me about the direction going forward with MakerDAO. We need more flexibility and more technical information regarding the path going forward. 

#### Have your club reached out to any other university blockchain clubs involved at Maker? Do you have any links with them to see if they can help you become delegates?

[25:41](https://youtu.be/axEO50fMujs?t=1541)

- Yes, we have contact with the majority of Blockchain clubs. We love the way Penn Blockchain has been involved with Maker. 

---

## ConsenSys

### Introduction

#### Cam O'Donnell 

[29:23](https://youtu.be/axEO50fMujs?t=1763)

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

![](https://i.imgur.com/HLeEPh4.png)

#### ConsenSys Cryptoecon Team

[33:34](https://youtu.be/axEO50fMujs?t=2014)

![](https://i.imgur.com/SxEwdE0.png)

#### Why Maker Governance?

[35:58](https://youtu.be/axEO50fMujs?t=2158)

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

#### Governance decision framework

[38:45](https://youtu.be/axEO50fMujs?t=2325)

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

### Questions & Answers

#### What are your delegation views on the DAI peg, for example, the USDC PSM? Should we have a tight or soft peg to USD?

[43:05](https://youtu.be/axEO50fMujs?t=2585)

- In general, it's smart to move to get away from USDC and reduce risk. We would rather reduce risk exposure as the main priority in this case.

#### Are there other areas of Maker you would think are best for reforming? Do you plan to bring forward proposals and make changes at Maker?

[45:45](https://youtu.be/axEO50fMujs?t=2745)

- One of the responsibilities of a delegate is to decide where the protocol can be improved. There is an opportunity to create proposals. I do not particularly appreciate having it as a specific goal because that would 'force' certain proposals. We will apply proposals whenever possible, which is a good decision.

#### Do you own any MKR tokens? Will you delegate to the ConsenSys delegate platform?

[47:06](https://youtu.be/axEO50fMujs?t=2826)

- YES! We hold almost 700 MKR tokens. The entire amount will not be delegated to maintain the objective. We will begin with a small number at first.

#### Have you looked at Maker's financials? What do you think about it?

[48:01](https://youtu.be/axEO50fMujs?t=2881)

- Looking at recent proposals at Maker, it's strategic to dive into potential opportunities that present investment and lending opportunities. Deploy capital where you can but remember to manage risk properly. Maker needs to use more capital from its treasury to help generate more revenue.
    - James Chung: Risk management is absolutely key. We will share a similar view and participate in governance to further express our opinions on risk management and asset allocation. 

#### Is there anything going on at Maker that makes you bullish? Such as expansion to L2s, restriction of the workforce, and RWAs? Anything that makes you excited about Maker?

[54:21](https://youtu.be/axEO50fMujs?t=3261)

- We've been super interested in all the RWA activity. I even met a member of the HVB team. Excited to see these integrations and where this goes in the future. We come from a TradeFi background and love to see this stuff.

## Common Abbreviated Terms

`DAO`: Decentralized Autonomous Organization 
`RWA`: Real World Asset
`DeFi`: Decentralized Finance

## Credits

- Artem Gordon produced this summary.
- Andrea Suarez produced this summary.
- Everyone who spoke and presented on the call.
