Special Gust:Gaby and Jori from Ethichub

EthicHub is crowdlending on peer-to-peer basis for investors and farmers. At the same time we are a marketplace for the handling of purchases of big coffee companies.

Come join us for a weekly recap of all the things that have been happening in the MakerDAO universe. We cover Maker Governance, Technical Milestones, Partnerships, New Hires, Highlights from the Community, Real-Life Events, and more. Community members are welcome and encouraged to participate in the call by asking questions and engaging in discussions.

Please add questions in the comments below if you wish to hear them answered or discussed

When: Tuesday, March 10th at 9AM PST | 5PM UTC | 12PM EST | 10AM MST | 6PM CET

Video/Voice: meet.google.com/idg-znme-kvt

Dial-In: ‎(‪US‬) +1 409-207-0104‬ PIN: ‪663 316‬#

Google Calendar Link

Agenda Document

Disclaimer: These calls are recorded and posted on the web.

How come is so hard to buy MKR? I spent an hour looking for dex where to buy MRK with DAI and the few I found have close to 0 volume.

What am I missing?

I'm trying to find stats related to MCD/DAI, like there was for SCD/SAI. Things like these:
https://mkr.tools/
https://graphs.santiment.net/makerdao
http://loans.descipher.io/

None of the tools above got updated to MCD, though. Where can I find data related to MCD? Thx.

Can anyone provide a step by step guide on how to safely lock my ETH in order to get DAI?

I see that ETH-A Vault #1845 was just liquidated. When it happened, the Maker Dai Twitter Bot tweeted the following stats:

[MCD] Owner of Vault #1845 (ETH-A) is getting liquidated
- A first auction (#525) for 50 ETH has been kicked
- Liquidation price: $203.55
- ETH Price: $202.95
- Debt cancelled: 6,785 DAI
- Debt remaining: 164,962 DAI

What do the bolded values above represent? It looked like the vault had > 50 ETH as collateral, so where does the 50 ETH number come from? Also, what is the difference between debt cancelled and remaining? Also, where does the 13% liquidation penalty come into play?

How long are these liquidation auctions? Is this something where a keeper calls a function and that ends it almost instantly? Or do they go on for a while?

Finally, how do MKR holders benefit from this liquidation? Does the 13% liquidation fee get burned?

Right now the savings rate is 8%. What does that mean? Is it 8% on original lock amount or compounded? If I lock in 1000 DAI for one year, will there be 1080 DAI at the end? (Given it stays at 8% during the year)

Would you be interested in featuring on the CryptoHuff news site?

I am growing a crypto network around it and I am sure we would like to read the latest news on your project.

The one stop shop for finding out what’s being discussed by governance right now.
Links reflect my view of the most noteworthy activity in the governance, risk and oracles categories right now. Disagree? Think something should be added? Leave a reply or a pm. Updated 05/03/20

Brought to you by u/LongForWisdom

Three Point Summary

^{‘What do I need to know as an MKR Holder this week?’}

• MCD Migration is still in progress. We have ~21.45 million Sai and ~118 million Dai.
• Migration of SCD CDPs to MCD has slowed down significantly since migration started.
• Dai and Sai have been ~0.5% above peg over the past week.

Active Discussions

^{‘What’s going on? You think what?! You’re 100% wrong, and here’s why…’}

Need More Explanation on Vote Proposals *New!\* - In which @Tarpmaster requests that more information be made available on the voting portal to help combat voter apathy.

Should MKR governance get involved with Ethereum hard forks? - *Continuing* In which @cyrus asks to what extent we should get involved in hard forks in general, and ProgPOW in particular.

Seeking Consensus

^{‘Yo, do you even signal?’}

Signal Request: Reduce the frequency of the DSR Spread governance poll - *Concluding shortly* @hexonaut starts a signal thread regarding the voting cadence of the DSR spread vote. Most people seem to be in favour of some increase so far.

Signal Request: Add Ranked Choice Voting as an Option for Governance Polls - *On-going* @hexonaut proposes adding the option for ranked choice voting to the on-chain governance polling system. Some good discussion so far, needs more eyes!

Ongoing Initiatives

^{‘Oh my god, this is taking ages, why can’t things be simple?’}

The Official Welcome Thread - A welcome and introductions thread. Not strictly speaking governance, but if anyone new or old wants to introduce themselves, now is your chance!

Forum Navigation Index - An index that aims to make navigation and browsing easier around the forum.

Governance Initiatives - An index that aims to list ongoing governance initiatives.

Suggested Signaling Process - In which I outline the current signalling process as I see it. Agree? Disagree? Share your thoughts here.

Systemic Risk Directory - Collating the various systemic risks identified by members of the community. Is everything going to explode in the future? Click here to find out!

Help Wanted

^{‘Oh %#$?, we need a doodad, and we need it now.’}

Wanted: Weekly Governance Recap for MKR Holders - Looking for a journalistic roundup of the goings on in MakerDAO each week. Funding Available!

Join us on the Forum for more discussion and in the Community Chat.

Could be answering my own question here but what is the advantage of a Dai savings account if I swap Eth for Dai? If the price of Eth goes up don’t I loose out?

Maker Holder DAI-gest: Week 10, 2020

Governance Recap March 5, 2020

https://mkrdai.info

Maker Holder DAI-gest is a publication by the community, for the community. While trying to remain completely objective, none of the statements or opinions shared here reflect that of the MakerDAO foundation. The best way to stay informed about governance and risk current events is through engagement with the community. This summary may not present all sides of an issue. You are encouraged to seek further information on topics of interest.

Three-Point Governance Summary:

1) Precedent for on-chain polling: No formal signaling process exists for foundation members. How should this be addressed? How should urgent governance issues be addressed which may require immediate action? Are there situations where the signaling process could and should be abbreviated or appended? Community input needed; follow the link to the forum thread.

2) Collateral Risk Model: SOMETHING EVERY GOVERNANCE COMMUNITY MEMBER SHOULD WATCH In the call this week, a presentation is given about the collateral risk model and credit risk modeling for considering new types of collateral. Approving new types of collateral is essential to the growth of the system and is a governance issue. This presentation provides an orientation and road map for handing this off to the community. The presentation can be found at 45:00min into the call. #mustseetv

3) Important debates are coming up weekly but discussion thread in the weekly call lacks continuity. Food for thought / how to handle?

DAI-hard Digits

• DAI Peg: 7d Low / 7d High $1.00 / $1.02

• DAI Statistics

• Governance Dashboard

Easy to DAI-gest definitions of DSR / Stability Fee / Debt Ceiling for Voters

Executive Votes and Polls

Look for an executive vote to open this week that includes some of the Governance Hot Topics and Poll Proposals.

Open: Executive Vote Activate the Debt Ceiling Adjustments and Set the Dai Savings Rate Spread Link

• 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
• Set the Dai Savings Rate Spread to 1%
  • Note: This will set the DSR to 7%

Poll: March 2-5, 2020

Dai Stability Fee Adjustment Winning proposal: 8%

Voters can choose the Dai stability fee to be set anywhere between 4% and 12%.

About the Dai Stability Fee: The MakerDAO system is designed to cover excess outstanding loan amounts that may not be covered by the liquidation of collateral. Although this is highly unlikely, it would most likely result from a situation that is unforeseeable. This fee covers the amount of inflation during the time the loan is made, administrative costs of the Foundation, and a credit guarantee fee for Maker Holders who are acting as guarantors of the loan. This fee covers the risk and the risk of risk being risky.

Poll: March 2-5, 2020

Dai Savings Rate Spread Winning Proposal: 1%

Voters can choose the Dai Savings Rate spread to be set anywhere between 0% and 4%.

About the Dai Savings Rate: When the value of Dai goes too far off track from the $1 set-point, adjusting the savings rate is one mechanism for price correction:

• If the market price of Dai is above 1 USD, MKR holders can choose to gradually decrease the DSR, which will reduce demand and should reduce the market price of Dai toward the 1 USD Target Price.

• If the market price of Dai is below 1 USD, MKR holders can choose to gradually increase the DSR, which will stimulate demand and should increase the market price of Dai toward the 1 USD Target Price.

For the voter to decide: A prudent spread for the DSR to be adjusted to be able to respond quickly to the value of Dai going above or below $1. # Intro to Collateral Risk Modeling, Polling Precedence, Sai Security

Poll: March 2-5, 2020

Sai Stability Fee Winning Proposal: 9.5%

Voters can choose the Sai stability fee within a range of 5.5% to 13.5%

About the Sai Stability Fee: The MakerDAO system is designed to cover excess outstanding loan amounts that may not be covered by the liquidation of collateral. Although this is highly unlikely, it would most likely result from a situation that is unforeseeable. This fee covers the amount of inflation during the time the loan is made, administrative costs of the Foundation, and a credit guarantee fee for Maker Holders who are acting as guarantors of the loan. This fee covers the risk and the risk of risk being risky.

Poll: March 2-5, 2020

Adjust DSR Spread Polling Cadence Winning Proposal: YES

Change the polling for DSR from weekly to every other week.

About the DSR Polling Cadence: The MakerDAO platform is intended to be able to take quick action to conditions that increase the risk of loss. DSR is a mechanism to get the value of Dai back on peg to $1 US. There is a debate that one week between adjustments does not give enough time for the effect of DSR adjustments to be realized due to the high frequency. The goal is to get a better understanding of how DSR adjustments affect Dai peg by giving more time to watch data trends.

Governance Hot Topics

• Sai Governance Security Module: Implementation of a 24-hour delay on single collateral Dai governance smart contracts. This discussion revolved around implementing a similar GSM fix for Sai which has already been approved by voters for Dai.

• Spell expiration: Setting a one-month expiration for proposals that lack ratification. This prevents the activation of outdated proposals as an attack vector.

• Signal Request: Add Ranked Choice Voting as an Option for Governance Polls: Both a forum discussion (follow the link) and discussion topic in the weekly call, providing ranked choice voting so that a proposal which may have multiple values is needed to better represent community choices.

• State of the peg: On average is remaining on target with 1 US dollar, or slightly higher. Trading volumes are strong and consistent with Dy/Dx as the top volume trading exchange. ETH price has been observed as a direct corollary to the Dai peg. Other monetary policy mechanisms have been more difficult to relate to Dai peg.

• Better understanding of the technical details of voting proposals is a trending topic in the forum. Community feedback on this issue would be helpful to steer towards a solid identification of issues around information needs that exist.

• Collateral Risk Modeling: Not enough emphasis can be placed on how important it is for voters to get an orientation to the components of collateral risk modeling. No summary can adequately convey the information presented in this week's governance call. This covers an important topic relevant to all of the governance community at 45:00min into the call. Assessing the risks and benefits of a collateral type will be one of the key tasks of the governance community. #themoreyouknow

Weekly Governance and Risk Meeting, Ep. 76 March 5, 2020

• YouTube Video

Here is a guide from MakerDAO about becoming involved in Governance. The meeting is held every Thursday, 17:00 UTC, 09:00 PST, 08:00 CST, 06:00 EST, 18:00 CET

Governance and Risk Meeting Community Guide * 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.

Upcoming Events

• 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, 08:00 CST, 06:00 EST, 18:00 CET

Rootstock (RSK) as a Bitcoin side-chain is offering the ability to use two way pegged bitcoin (RBTC) in smart contracts that are potentially compatible with Ethereum? RSK has a DAO on it just like MakerDao that plans to use RBTC as collateral for the stable coin they are building out called DOC "Dollar on Chain". If this can be done then we should also be able to offer RBTC as collateral in MCD right>? Do we have plans to work Bitcoin in whatever capacity into MCD at this point in time and if so what are those plans? Anyone with any insight please feel free to chime in, TY!

Adding an expiration to new executive spells still leaves the old spells. Let’s create an executive spell that casts old executive spells then immediately reverses their changes. I propose we add an on chain vote to validate creating a new executive to do it. I ask that someone else who thinks this should be done post a forum thread asking whether we should disarm one old executive first, disarm them all at once, or leave them armed.

I ask that you comment on how good or bad an idea you think this is.

i was nervous about the migration process and everything, and it wasn't super easy to get the pieces right, (obtain maker) then shuffle cryptos around until i got what i needed where i needed. but in the end i was successful. CPD positions with DeFi and crypto are pretty interesting things.

Agenda

Governance Segment

• Richard Brown: General Q&A

Risk Segment

• Cyrus Younessi: Collateral Risk
• Vishesh Choudry: State of the Peg

General Q&A

We'll open the floor for any questions about Scientific Governance and Risk.

Please join us and help shape the future of the MakerDAO.

Links

• Video/Voice

• Dial-in

• Calendar

I'm having a hard time finding info or understanding how to check my balance without the Oasis web UI. Is there an API call or something I can make for the sake of importing this data in real time to other applications?

i have to shut down my okex acct & do a final withdrawl. is there any place i can buy or trade MKR that takes US users?

Hi - how can I/we invest our extra savings, I try to find the way, but how and how do you then transfer.... Best KK

Hi ... I'm trying to redeem new MKR because I still have the old token. I followed the steps in the google doc and I successfully completed the first step but I can't complete the redeem step.

I put in the redeemer contract address and ABI / JSON interface, access it, then when I do the final step to redeem I keep getting the error: Returned error: gas required ... exceeds allowance (9995088) or always failing transaction.

Can somebody please advise? Thank you so much.