Maker Relay #66

--- tags: Maker Relay --- # Maker Relay #66 ![](https://i.imgur.com/sKBE33u.png) _Hi everyone, thanks for checking out Maker Relay! Whether you hold MKR or DAI, own a vault, or want to get more involved in governance, this is your one-stop-shop for MakerDAO updates._ 🍵 Current Events 🗳️ This Week in Governance 🤿 Community Deep Dai-ve 📋 Team Updates 📆 Mark your Calendar ⚓ Useful Links 🎙️ Have Feedback? ## 🍵 Current Events ### MakerBurn Launches NFTs Celebrating MakerDAO Milestones MakerBurn, one of the community's go-to sites for MakerDAO analytics, launched [a collection of NFTs commemorating important events in the history of MakerDAO.](https://makerburn.com/#/moments) Events include the launch of MakerDAO, the 100 million SAI milestone, and the release of Multi-Collateral Dai (MCD). The collection is available on [OpenSea.](https://opensea.io/collection/makerburn-moments?ref=0x7e3dc9f40e7ff9db80c3c7a1847cb95f861b3aef) Users can make offers to purchase the NFTs, though MakerBurn hasn't specified whether or not they're for sale yet. If you're going to make an offer, make sure it's one they can't refuse! ### G-UNI hits Debt Ceiling; raise proposed G-UNI, an ERC20 wrapper around the NFTs representing the Uniswap v3 G-UNI DAI / USDC pool, quickly hit its debt ceiling of 10 million Dai. Launched on September 21, 2021, the G-UNI Vault helps MakerDAO reduce its reliance on USDC. As @hexonaut [explains,](https://forum.makerdao.com/t/signal-request-high-leverage-g-uni-vault-to-replace-psm-usdc-exposure/9027) "Looking at recent Uniswap numbers, APRs on this pool is around 4% based on the 140M TVL. If we offer 100x leverage (101% CR), this APR raises to 400%, attracting a lot more capital. This should be enough to attract a couple of billion TVL into the pool (depending on the SF), which will indirectly unwind the PSM as minted DAI is sold for USDC." Dai generated by USDC is currently at 47.7% and Protocol Engineering Core Unit Facilitator @Derek [proposes raising the Debt Ceiling from 10 million to 50 million Dai.](https://forum.makerdao.com/t/request-to-raise-the-g-uni-dc-to-50m/10838) ### The Case for Clean Money The [Case for Clean Money](https://forum.makerdao.com/t/the-case-for-clean-money/10684) was posted by @rune on Monday, October 4th. This proposal considers switching priorities of the DAO towards addressing and aiding to help fight against climate change. This proposal includes the addition of the [Sagittarius Engine.](https://forum.makerdao.com/t/sagittarius-engine/10852) The goal of the Sagittarius Engine is to direct value flows of the Maker Protocol towards long-term governance participants, a core of MKR holders that participate based on a genuine interest in the project. Governance Facilitator, @LongForWisdom, has followed this with a [Signal Request](https://forum.makerdao.com/t/would-you-like-to-see-makerdao-move-in-the-general-direction-indicated-by-the-post-the-case-for-clean-money/10932) asking if this is something the community agrees with. ### State of DAI ![Peg](https://i.imgur.com/imSRDBB.png) - DAI peg with some limited slippage over the past week. Excited to see how adjusting PSMs get the range to be even smaller. ![90-day peg](https://i.imgur.com/hUNxJOm.png) - The 90-day peg, courtesy of Blockanalytica, helps visualize the effect - and things are looking steady. ![7 day stats](https://i.imgur.com/SHgSti9.png) - Seems like October 6/7 had the roughest patch for ETH<>DAI trades. ![Dai Supply](https://i.imgur.com/jtYGABx.png) - Supply is trending up - situated at nearly 6.9 billion, with the TVL now over 13.5 billion. ![mint/burn](https://i.imgur.com/A3i19gx.png) - A total of around 297,256,355 Dai was generated in the last seven days. ![Borrow/repay](https://i.imgur.com/nBnNXC4.png) - Last week, around 375mil Dai was borrowed, and 114mil was repaid, totaling a net -273.9mil. ![Vault creation](https://i.imgur.com/xVYhq6k.png) - A total of 107 new vaults were opened last week by 68 new creators. MakerBurn rundown or dai stats - PSM USDC 3.02 billion - ETH-A 1.88 billion - WBTC 457.75 million (ATH) - USDP-PSM 414.3 million - ETH-C 288.11 million - USDC-A 238.82 million - ETH-B 94.44 million - PAX 67.41 million - UniV2DaiUSDC 58.77 million (ATH) - LINK 44.24 million - TUSD 26.58 million - UniV2DaiEth 26.42 million - YFI 24.58 million - UniV2WBTCEth 14.25 million (ATH) - UNI 13.56 million - UniV2UsdcEth 10.05 million - GUNI-DaiUSDC 9.99 million (ATH) - UniV2UniEth 9.54 million - NSDROP 8.67 million (ATH) - renBTC 5.83 million (ATH) - MANA 4.99 million (ATH) - GUSD 4.94 million (ATH) - ZRX 2.99 million - BAT 2.05 million - AAVE 1.058 million - LRC 424K - BAL 171K - Other vaults below 500K: (UniV2LINKETH UniV2AAVEETH, UniV2WbtcDai, UniV2DaiUsdt, UniV2EthUsdt, COMP, and MATIC). ![](https://i.imgur.com/lSOvJLK.png) - ETH vaults collateralization ratio is currently seated at 339%. ![last week's liquidations](https://i.imgur.com/QbZzY1m.png) - We saw two liquidations last week, affecting the wBTC and ETH-A vaults. The resulting auctions took around 30 minutes to conclude. ![](https://i.imgur.com/AHKSofh.png) This week, the Liquidation Walls are fairly unforgiving, beginning around a 5% market drop before significantly steepening around 20%. ![ath szn](https://i.imgur.com/yXYxqps.png) - Seeing a lot of ATHs across the board, which seems good. daistats.com | makerburn.com | maker.blockanalitica.com ## 🗳️ This Week in Governance ### MIPs [Weekly MIPs Update #57](https://forum.makerdao.com/t/weekly-mips-update-57/10921) - The Ratification Polls for October’s Governance Cycle are up and running. ### Active Executive Votes * This week has no active executive vote; The October 8th Executive passed on Oct 9, 2021, 12:32 UTC, and was executed on Oct 11, 2021, 14:00 UTC. ### Active Governance Polls | Poll Name | Vote | Discussion | | --------- | ---- | ---------- | | Add stETH (Lido Staked ETH) as a new Vault Type | [Vote](https://vote.makerdao.com/polling/QmXXHpYi?network=mainnet) | [Discussion](https://forum.makerdao.com/t/steth-mip6-collateral-onboarding/5762) | | Nexo Institutional Vault Onboarding | [Vote](https://vote.makerdao.com/polling/QmU41X9v?network=mainnet) | [Discussion](https://forum.makerdao.com/t/signal-request-nexo-institutional-vault/10046) | | PaperImperium Supplemental Compensation | [Vote](https://vote.makerdao.com/polling/QmdmeUjv?network=mainnet) | [Discussion](https://forum.makerdao.com/t/signal-request-paperimperium-supplemental-compensation/10454) | | Add the Aave Direct Deposit DAI Module (D3M) | [Vote](https://vote.makerdao.com/polling/QmexUjoD?network=mainnet) | [Discussion](https://forum.makerdao.com/t/discussion-direct-deposit-dai-module-d3m/7357) | | Increase the GUNIV3DAIUSDC1-A Debt Ceiling | [Vote](https://vote.makerdao.com/polling/QmU6fTQx?network=mainnet) | [Discussion](https://forum.makerdao.com/t/request-to-raise-the-g-uni-dc-to-50m/10838) | Ratification Polls: | Poll Name | Vote | Discussion | | --------- | ---- | ---------- | | Adding the Deco Fixed Rate Core Unit (DECO-001) | [Vote](https://vote.makerdao.com/polling/QmZyjR4t?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip39c2-sp23-adding-the-deco-fixed-rate-core-unit/10224) | | Adding Data Insights Core Unit (DIN-001) | [Vote](https://vote.makerdao.com/polling/QmR7fMc6?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip39c2-sp22-adding-data-insights-core-unit-din-001/10208) | | Adding MakerLabs Core Unit (SNUNK-001) | [Vote](https://vote.makerdao.com/polling/QmV44i6E?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip39c2-sp21-adding-makerlabs-core-unit/9425) | | Implementation of DSS Charter (MIP59) | [Vote](https://vote.makerdao.com/polling/QmNVWmdU?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip59-dsscharter/10028) | | Modify Core Unit Budget, MKT-001 (MIP40c3-SP33) | [Vote](https://vote.makerdao.com/polling/QmWn7G3Q?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp33-modify-core-unit-budget-mkt-001/10150) | | Growth Core Unit Budget, GRO-001 (MIP40c3-SP37) | [Vote](https://vote.makerdao.com/polling/QmYQsaQq?network=mainnet) | [Discussion](https://forum.makerdao.com/t/mip40c3-sp37-growth-core-unit-budget-gro-001/10228) | ### Community Greenlight Polls | Collateral | MIP9 Poll | MIP6 Application | | ---------- | ----------- | ---------------- | | Curve stETH-ETH LP Token | [Ends 10/18 4 PM UTC](https://vote.makerdao.com/polling/Qmd1qpHU?network=mainnet#poll-detail) | [Application](https://forum.makerdao.com/t/curvelp-steth-eth-mip6-collateral-onboarding-application/10229) | _Check out an 'at-a-glance' view of the current Vault types and their parameters on [MakerBurn](https://makerburn.com/#/rundown)_ ### Active Signal Requests [Would you like to see MakerDAO move in the general direction indicated by the post ‘The Case for Clean Money’?](https://forum.makerdao.com/t/would-you-like-to-see-makerdao-move-in-the-general-direction-indicated-by-the-post-the-case-for-clean-money/10932) - Given the discussion and excitement generated by @rune’s recent [Clean Money](https://forum.makerdao.com/t/the-case-for-clean-money/10684) post. GovAlpha is laying out the next steps concerning governance on this issue. @LongForWisdom is asking the community whether they would like to see MakerDAO move in the general direction indicated by the post ‘The Case for Clean Money’? [*Restarted poll* Raise the ESM threshold to 15% and increase the Governance Delay to 4 days](https://forum.makerdao.com/t/restarted-poll-signal-request-raise-the-esm-threshold-to-15-and-increase-the-governance-delay-to-4-days/10896) - Maker is reaching a point where the core Maker security is so battle-tested that the emergency shutdown feature (ES) is beginning to become a risk rather than a solution; with only 75,000 MKR currently needed to trigger ES, it is the most likely place for someone to try to damage the system. @rune proposes to double the trigger amount to 150,000 MKR, which will reduce the risk of a sudden ES and make the system more reliable. [Set PSM fees to 0%](https://forum.makerdao.com/t/signal-request-set-psm-fees-to-0/10894) - @SebVentures has been diligently pushing the idea to set PSM fees to 0%; which is also suggested in [The Case for Clean Money](https://forum.makerdao.com/t/the-case-for-clean-money/10684). If their signal were to pass, Sebastien provides many long-term pros and cons and discusses how setting PSM fees to 0% would anchor the perception that 1 DAI = $1. [Turn off the burner, fuel up Sagittarius Engine](https://forum.makerdao.com/t/signal-request-turn-off-burner-fuel-up-sagittarius-engine/10724) - In reaction to @rune’s post, @Planet_X signals to turn off the Buy and Burn, keep the surplus buffer at 60 million DAI, and direct excess funds of the Surplus Buffer to the Sagittarius Engine. ### Last Week [Offboarding Vaults, MKR Vesting, and Core Unit Budget Distribution - October 8, 2021](https://vote.makerdao.com/executive/template-executive-vote-offboarding-vaults-mkr-vesting-and-core-unit-budget-distribution-october-8-2021?network=mainnet#proposal-detail) this executive proposal passed, the following changes occurred within the Maker Protocol: Vaults Offboarded: | Vault | Poll | | ----- | ---- | | BAT-A | [Poll](https://vote.makerdao.com/polling/QmWJfX8U?network=mainnet#poll-detail) | | LRC-A | [Poll](https://vote.makerdao.com/polling/QmUx9LVs?network=mainnet#poll-detail) | | ZRX-A | [Poll](https://vote.makerdao.com/polling/QmPfuF2W?network=mainnet#poll-detail) | | UNIV2AAVEETH-A | [Poll](https://vote.makerdao.com/polling/QmcuJHkq?network=mainnet#poll-detail) | | UNIV2LINKETH-A | [Poll](https://vote.makerdao.com/polling/Qmd7DPye?network=mainnet#poll-detail) | Core Unit Budget Distribution: | Core Unit | Amount | Poll | | --------- | --- | ---- | | [RISK-001](https://mips.makerdao.com/mips/details/MIP39c2SP20) | 700 MKR | [Poll](https://vote.makerdao.com/polling/QmUAXKm4?network=mainnet#poll-detail) | | [CES-001](https://mips.makerdao.com/mips/details/MIP39c2SP2) | 1,223,552 DAI | [Poll](https://vote.makerdao.com/polling/QmbM8u7Q?network=mainnet#poll-detail) | ## 🤿 Community Deep Dai-ve ### Tweet of the Week https://twitter.com/epnsproject/status/1447925225035866122 ### Forum Insight - [Investing our liquidity in short-term ETF, managing PSMs exposures ](https://forum.makerdao.com/t/investing-our-liquidity-in-short-term-etf-managing-psms-exposures/10891) - *@SebVentures provides the initial framework for investing Maker liquidity into short-term ETFs to help manage the Protocol's exposure to USDC.* - [Real World Assets Financial Report - 2021-09](https://forum.makerdao.com/t/financial-report-2021-09/10776) - *A thread by @Aes breaking down the RWAs for September.* _[Check out the latest Forum at a Glance](https://forum.makerdao.com/tag/forum-at-a-glance)_ ### Articles - [Finance Redefined: MakerDAO goes green and Bank of America bullish on DeFi](https://www.investing.com/news/cryptocurrency-news/finance-redefined-makerdao-goes-green-and-boa-bullish-on-defi-oct-18-2639607) - *An article discussing Maker's potential shift in direction and purpose toward helping climate change.* - [How To Take Out A Crypto Loan On DeFi](https://cryptoticker.io/en/how-to-take-out-a-crypto-loan-on-defi/) - *Uses Maker as its example for taking out a DeFi loan.* - [Magic Internet Money races past $1B, sets sights on MakerDAO](https://www.investing.com/news/cryptocurrency-news/magic-internet-money-races-past-1b-sets-sights-on-makerdao-2639316) - *A look at the recent growth of MIM (Magic Internet Money), a stable, cross-chain yield-farming token.* ## 📋 Team Updates ### Collateral Engineering Services [CES Core Unit Update | #1](https://forum.makerdao.com/t/ces-core-unit-update-1/10872) [CES Auditor’s Wallet Multisig](https://forum.makerdao.com/c/core-units/collateral-engineering-services) ### GovAlpha [Signal: Would you like to see MakerDAO move in the general direction indicated by the post ‘The Case for Clean Money’?](https://forum.makerdao.com/t/would-you-like-to-see-makerdao-move-in-the-general-direction-indicated-by-the-post-the-case-for-clean-money/10932) [GovAlpha Weekly Update - 2021-10-07](https://forum.makerdao.com/t/govalpha-weekly-update-2021-10-07/10839) [Core Unit Budget Implementation Standardization](https://forum.makerdao.com/t/core-unit-budget-implementation-standardization/10758/3) ### Protocol Engineering [Request to raise the G-UNI DC to 50M](https://forum.makerdao.com/t/request-to-raise-the-g-uni-dc-to-50m/10838) [[DIRECT-AAVEV2-DAI] Direct Deposit Module Technical Assessment](https://forum.makerdao.com/t/direct-aavev2-dai-direct-deposit-module-technical-assessment/10751) ### Oracles [[wstETH] Collateral Onboarding Oracle Assessment (MIP10c3-SP42)](https://forum.makerdao.com/t/wsteth-collateral-onboarding-oracle-assessment-mip10c3-sp42/10881) ### Real-World Finance [Real-World Finance Core Unit Report - 2021-09](https://forum.makerdao.com/t/real-world-finance-core-unit-report-2021-09/10825) [Financial Report - 2021-09](https://forum.makerdao.com/t/financial-report-2021-09/10776) [Signal Request: Set PSM fees to 0%](https://forum.makerdao.com/t/signal-request-set-psm-fees-to-0/10894) [MIP6 Collateral Onboarding Application: MD Irradiance LLC: Construction Period-only Loans to Late-Stage US Solar Projects](https://forum.makerdao.com/t/mip6-collateral-onboarding-application-md-irradiance-llc-construction-period-only-loans-to-late-stage-us-solar-projects/10817) [Investing our liquidity in short-term ETF, managing PSMs exposures](https://forum.makerdao.com/t/investing-our-liquidity-in-short-term-etf-managing-psms-exposures/10891) [MakerDAO Budget Simulator - 9+3 Revenue & Cash Flow Forecast](https://forum.makerdao.com/t/makerdao-budget-simulator-9-3-revenue-cash-flow-forecast/10851) ### Growth [Growth CU weekly update: October 1 - October 7](https://forum.makerdao.com/t/growth-cu-weekly-update-october-1-october-7/10841) ### Content Production [Issue Discussion | #2 Fixed-Rate Vault Solutions](https://forum.makerdao.com/t/issue-discussion-2-fixed-rate-vault-solutions/10845) [Dai on Different Networks #14 - October 7, 2021](https://forum.makerdao.com/t/dai-on-different-networks-14-october-7-2021/10850) ### Sustainable Ecosystem Scaling [SES Updates - 7.10.2021](https://forum.makerdao.com/t/ses-updates-7-10-2021/10832) [Core Unit Launch Pod Sessions ||| Session #19: Deco Fixed Rate](https://forum.makerdao.com/t/core-unit-launch-pod-sessions-session-19-deco-fixed-rate/10908) [Core Unit Launch Pod Sessions ||| Session #18: MakerLabs](https://forum.makerdao.com/t/core-unit-launch-pod-sessions-session-18-makerlabs/10678) [Core Unit Tools #09: Zodiac](https://forum.makerdao.com/t/core-unit-tools-09-zodiac/10679) ### Governance Communication [Forum at a Glance September 30th - October 7th](https://forum.makerdao.com/t/forum-at-a-glance-september-30th-october-7th/10837) ## 📆 Meetings and Events ### Last Week's Call Recordings - Governance and Risk Call #162 - [Video](https://www.youtube.com/watch?v=Tl1xP3dUw50) | [Forum Post](https://forum.makerdao.com/t/agenda-discussion-scientific-governance-and-risk-162-thursday-october-7-17-00-utc/10806/5) - AMA Ep. 09 - Discussing Fixed-Rate DAI Loans from MakerDAO with Pairwyse - [Video](https://www.youtube.com/watch?v=mjfMNKmHUhg) | [Forum Post](https://forum.makerdao.com/t/ama-fixed-rate-maker-vaults-with-pairwyse/10397/5) - Core Unit Tools #09 - Zodica - [Video](https://www.youtube.com/watch?v=fag90EtjI-U) | [Forum Post](https://forum.makerdao.com/t/core-unit-tools-09-zodiac/10679) - Core Unit Launch Pod Session #18: MakerLabs - [Video](https://www.youtube.com/watch?v=DJrFgI7zjrk) | [Forum Post](https://forum.makerdao.com/t/core-unit-launch-pod-sessions-session-18-makerlabs/10678/5) ### This Week's Calls #### Governance & Risk - [Join Link](https://zoom.us/j/697074715) | [Agenda](https://forum.makerdao.com/c/governance/gnr/8) - Thursdays at 16:00 UTC #### Core Unit Office Hours - [Join Link](https://us02web.zoom.us/j/82603350722?pwd=RThleVo5QlBRT1FuOWxiRCs3K0k2Zz09) | GovAlpha - Mondays 17:00 UTC - [Join Link](https://www.google.com/url?q=https://meet.google.com/bjm-qiup-hif&sa=D&source=calendar&ust=1620493080631000&usg=AOvVaw056SKuyQn3F67FAtJTPIbl) | Protocol Engineering - Tuesdays 15:00 UTC - [Join Link](https://us02web.zoom.us/j/7091120339?pwd=ek9XQWV0c0FJSCt2MHcwWmpWYkd3UT09) | Content Production - Wednesdays 15:30 UTC - [Join Link](https://meet.google.com/sap-nttu-xga) | Growth - Wednesdays 17:00 UTC - [Join Link](https://us02web.zoom.us/j/85252786103?pwd=bEZaZXdEcGlSWWd5bmpxMDBvVjdEUT09) | Sustainable Ecosystem Scaling - Tuesdays 15:30 UTC - [Join Link](https://meet.google.com/nio-jrqq-guu) | Governance Communications - Fridays 18:00 UTC #### Core Unit Launch Pod Sessions - Core Unit Launch Pod Session #19: Deco Fixed Rate - [Join Link](https://us02web.zoom.us/zoomconference?m=ODI5NDI3NzM3MjU.DyJwewtItf7Z-J02syi4HXV3vUo3-H82&_x_zm_rtaid=y5_nU_aETXaOKnT8lYt8WA.16) | [Forum Post](https://forum.makerdao.com/t/core-unit-launch-pod-sessions-session-19-deco-fixed-rate/10908) #### Issue Discussion Series - Issue Discussion #2 | Fixed-Rate Vault Solutions - [YouTube Video Coming Soon!]() | [Forum Post](https://forum.makerdao.com/t/issue-discussion-2-fixed-rate-vault-solutions/10845) ## ⚓ Useful Links [Forum](https://forum.makerdao.com) and [Maker Chat](https://chat.makerdao.com) Discuss and debate MakerDAO. [Public Calander](https://calendar.google.com/calendar/u/0?cid=bWFrZXJkYW8uY29tXzNlZmhtMmdoaXBrc2VnbDAwOWt0bmlvbWRrQGdyb3VwLmNhbGVuZGFyLmdvb2dsZS5jb20) Subscribe for all public calls, votes, and other reminders. [Participation Tools](https://community-development.makerdao.com/en/learn/governance/participate) Resources for stakeholders; protocol analytics, Dai analytics, collateral & liquidation metrics, governance history, and auctions data. [Governance Portal](https://makerdao.com/en/governance) The voting dashboard for MKR voters. [MIPs Portal](https://mips.makerdao.com/mips/list) MIPs Dashboard for everyone. [Learning Portal](https://community-development.makerdao.com/en/learn/) and [Technical Documentation](https://docs.makerdao.com/) Learn more about the Maker protocol. ### 🎙️ Have Feedback? We value your input! Take our [survey](https://slvw5de5kt4.typeform.com/to/wwaFbnIO) to let us know what we might be missing or how to do better. *Disclaimer: This update is assembled by a group of contributing members in the MakerDAO community. This does not serve as financial advice or an inducement to vote in any specific way. This update is purely for information and communication purposes only.*

Syntax	Example	Reference
# Header	Header	基本排版
- Unordered List	Unordered List
1. Ordered List	Ordered List
- [ ] Todo List	Todo List
> Blockquote	Blockquote
Bold font	Bold font
Italics font	Italics font
~~Strikethrough~~	~~Strikethrough~~
19^th^	19^th
H~2~O	H₂O
++Inserted text++	Inserted text
==Marked text==	Marked text
[link text](https:// "title")	Link
![image alt](https:// "title")	Image
`Code`	`Code`	在筆記中貼入程式碼
```javascript var i = 0; ```	`var i = 0;`
:smile:		Emoji list
{%youtube youtube_id %}	Externals
$L^aT_eX$	L^aT_eX
:::info This is a alert area. :::	This is a alert area.