openskyComposable Recap 9
Stability, Security and Deep Work… The last week was dedicated to discussions of the Stability Scope. An unstable stablecoin is like yesterday’s papers. Useless. Risk management is a key element of DAI’s stability and MakerDAO is happy to have BA Labs as advisors here. Another important aspect of stability is managing and monitoring what RWA arrangers are doing. After all just two entities, Monetalis Clydesdale and BlockTower Andromeda manage the majority of MakerDAO’s RWA allocation. While t...
openskyComposable Recap 8
Igniting the future… MakerDAO co-founder Rune Christensen is now hosting weekly calls to further the development of the Governance AI Tools (GAIT). Recently all delegates and facilitators have been tasked to prepare material for the AI system to digest. https://forum.makerdao.com/t/atlas-and-gait-call-tasks-for-next-week/22458 But first, we want to ask our readers to apologise the missing edition of this newsletter. Last week saw us confronted with an endless stream of obligations both privat...
MKR AVC member. Researching all things MakerDAO. Self custody is the future.
openskyComposable Recap 9
Stability, Security and Deep Work… The last week was dedicated to discussions of the Stability Scope. An unstable stablecoin is like yesterday’s papers. Useless. Risk management is a key element of DAI’s stability and MakerDAO is happy to have BA Labs as advisors here. Another important aspect of stability is managing and monitoring what RWA arrangers are doing. After all just two entities, Monetalis Clydesdale and BlockTower Andromeda manage the majority of MakerDAO’s RWA allocation. While t...
openskyComposable Recap 8
Igniting the future… MakerDAO co-founder Rune Christensen is now hosting weekly calls to further the development of the Governance AI Tools (GAIT). Recently all delegates and facilitators have been tasked to prepare material for the AI system to digest. https://forum.makerdao.com/t/atlas-and-gait-call-tasks-for-next-week/22458 But first, we want to ask our readers to apologise the missing edition of this newsletter. Last week saw us confronted with an endless stream of obligations both privat...
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What does it take to be a delegate?
Recently discussion about requirements for Aligned Delegates resumed with vigour as part of the thread started by SEED Latam on the forums.
The main point of contention was SovFi’s requirement for ADs to hold MKR in the same amount as members of the AVC. A larger discussion about inclusivity ensued, because potential delegates without the financial means to purchase enough MKR would be excluded.
From our end, we welcome the formalization of requirements. KISS AVC has also implemented a procedure for their ADs and ReFi has a structure in place as well.
Delegates in MakerDAO can be highly compensated, and AVCs should benefit from their work by requiring a certain amount of output so they can generate the best possible scope proposals in turn.
As luck would have it, a new AD joined MakerDAO. Welcome, Ikegai. We hope you live up to your name.
KISS AVC demonstrated their governance prowess by publishing their position documents on the forum. Congratulations.
Especially the proposals for concrete budgets for advisory council members. Maker Endgame depends on quality ACs and their output, and this is a great step in the right direction.
https://forum.makerdao.com/t/kiss-position-document-for-q3-09-21-2023/22147
Polling overview
As can be expected at the end of a quarter, polling activity is subdued, as most governance participants plan their next three months.
A single poll is available for consideration, with the most likely outcome being a vote in favor.
What does it take to be a delegate?
Recently discussion about requirements for Aligned Delegates resumed with vigour as part of the thread started by SEED Latam on the forums.
The main point of contention was SovFi’s requirement for ADs to hold MKR in the same amount as members of the AVC. A larger discussion about inclusivity ensued, because potential delegates without the financial means to purchase enough MKR would be excluded.
From our end, we welcome the formalization of requirements. KISS AVC has also implemented a procedure for their ADs and ReFi has a structure in place as well.
Delegates in MakerDAO can be highly compensated, and AVCs should benefit from their work by requiring a certain amount of output so they can generate the best possible scope proposals in turn.
As luck would have it, a new AD joined MakerDAO. Welcome, Ikegai. We hope you live up to your name.
KISS AVC demonstrated their governance prowess by publishing their position documents on the forum. Congratulations.
Especially the proposals for concrete budgets for advisory council members. Maker Endgame depends on quality ACs and their output, and this is a great step in the right direction.
https://forum.makerdao.com/t/kiss-position-document-for-q3-09-21-2023/22147
Polling overview
As can be expected at the end of a quarter, polling activity is subdued, as most governance participants plan their next three months.
A single poll is available for consideration, with the most likely outcome being a vote in favor.
In this poll, both the Clydesdale and the Andromeda RWA vault would have increased debt ceilings of three billion DAI, with a 50 million gap. It seems timely as DAI supply increases thanks to a generous DSR.
DAI supply
DAI supply reached a new high this week, with the stablecoin collateral bottoming out a low point. The eDSR seems to be almost optimally calibrated to sustainably attract users.
Photo by Simon Berger, Pexels
In this poll, both the Clydesdale and the Andromeda RWA vault would have increased debt ceilings of three billion DAI, with a 50 million gap. It seems timely as DAI supply increases thanks to a generous DSR.
DAI supply
DAI supply reached a new high this week, with the stablecoin collateral bottoming out a low point. The eDSR seems to be almost optimally calibrated to sustainably attract users.
Photo by Simon Berger, Pexels
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