Governance Recap Week Ending February 29, 2020
DISCLAIMER AND WARNING: I am a cryptocurrency enthusiast that believes DAI is the stable coin capable of bringing a widespread adaptation of digital currency to the people. My mission is to help others learn about and get involved with the MakerDAO ecosystem. I am not an employee of MakerDAO, my views are my own and do not represent the views of MakerDAO implied or expressed. Professional nerd on a closed course; do not attempt. This publication is not suitable for human consumption; for external use only. Void where prohibited. No purchase necessary.
EXCLUSIVE BLOG BY ADRIAN: Your Bank is Just Not That Into You: (How Your Bank is #%@&ing You Over)
Three-Point Governance Summary by Adrian:
- Individually and as a community, it is important to stop often and reassess our efforts within the Maker ecosystem. Still relevant? Is there a higher priority? Is it value-added? Must have, or would be nice? Maker is growing quickly making it that much more critical to quickly adapt if/when yesterday's top priority may have just become obsolete.
- Watch the presentation on Oracles and Governance in this week's video recording of the governance meeting. The security of the Maker platform relies on a variety of information providers (Oracles) and Governance is tasked with administrating these sources and their security to the ecosystem.. Watch the presentation and next week a draft of administrative procedures will be posted in the forum. Read it. Ask questions. Give feedback.
- The top few CDPs hold over 25% of the DAI supply. Keep an eye on them if they are auctioned or redeemed. The large trade volume may require immediate response to keep DAI on the peg.
DAI Digits (Statistics)
- Poll: Should we reduce the frequency of the DSR Spread governance poll to once per month?
- This poll closed today (Thursday) and was voted “NO” to the astonishment of the community. This is an important issue. Adjustments that happen every week give very little time for the effect of a change to be realized. This initiative is important to give more time between adjusting critical ecosystem vitals to fully understand the change (if any) that occurs.
- Dai Savings Rate Spread Adjustment — February 24, 2020
- This poll passed a rate of 1%. The current setpoint is 0%.
- Poll: Debt Ceiling Adjustment — February 24, 2020
- This poll result was “YES”:
- Lower the Sai Debt Ceiling by 5 million to 25 million Sai
- Lower the Dai ETH Debt Ceiling by 20 million to 130 million Dai
Other polls this week for Dai Stability Fee and Sai Stability Fee resulted in no change, which remains 8% and 9.5% respectively.
A hot topic of debate this week in the community is how to handle the occurrence of an Ethereum hard fork if it were to happen. Just to be clear, there is not a hard fork planned or announced. The community just wants to have some plans in place if this happened. Many considerations involving the Maker platform as well as partner platforms and much more need to be considered. To find out more information on the issue dive into the community forum: Should MKR governance get involved with Ethereum hard forks?
Weekly Governance and Risk Meeting, Ep. 75 February 27, 2020
Here is a guide from MakerDAO about becoming involved in Governance. The meeting is held every Thursday, 17:00 UTC.
- Understand the issues that are discussed and governance themes that get explored to build a healthy, secure, Maker Platform.
- Get info on how to connect by phone or webcam.
- Explore meeting archives.
- March 3–5, 2020 ETHCC 2020 Conference Paris, France
- March 4–11, 2020 Blockchain Week London
- March 9–10, 2020 Crypto-Assets Conference Frankfurt, DE
- March 10, 2020, CryptoCompare Digital Asset Summit London, UK
- March 12–13, 2020 Blockchain Summit Latam Panama City, PA
- May 8–9, 2020 Ethereal Summit New York New York, US
- June 16–18, 2020 Money 20/20 Europe 2020 Amsterdam, NL
- MakerDAO Community Events Calendar
- Weekly Community Development Meeting — Tuesdays 09:00 PST
- Weekly Governance and Risk Meeting — Thursdays 09:00 PST