Tweet

@Rocket_Pool

@Rocket_Pool

This Thread may be Removed Anytime!

Twitter may remove this content at anytime! Save it as PDF for later use!

More from @MakerDAO

Maker

@MakerDAO

Jun 16

The Real World Finance Core Unit has published the Huntingdon Valley Bank (HVB) Collateral Onboarding Risk Assessment.

This is a recap on the collateral onboarding process of HVB, a Pennsylvania Chartered US-based commercial bank.

🧵

1/

Huntingdon Valley Bank, a Pennsylvania-based community bank, is seeking a 100 million DAI debt ceiling participation facility to support the growth of existing businesses and to grow new businesses.

2/

HVB and RWA Master Participation Trust (established for the benefit of Maker) will not have a borrower-lender relationship.

HVB will have access to DAI liquidity in exchange for the sale of participation interests in the underlying whole loans originated by HVB.

3/

Read 15 tweets

Maker

@MakerDAO

Jun 16

@CertoraInc

MakerDAO's Protocol Engineering Core Unit (PECU) uses the @CertoraInc Prover as part of its suite of techniques to keep DAI and Maker Vaults safe.

How is this tool boosting the formal verification of our systems?

🔒👇

1/

@CertoraInc

@CertoraInc Formal verification tries to prove that a program behaves according to some specification.

The system's code is transformed into a logical formula, and then mathematical methods are used to attempt to prove the properties described in the specification.

2/

@CertoraInc

@CertoraInc The advantage of formal verification is its exhaustiveness — all execution paths are checked, so we encounter rare edge cases.

@CertoraInc offers an automatic formal verification tool: the Certora Prover, and the PECU team has been using it since June 2021.

3/

Read 5 tweets

Maker

@MakerDAO

Jun 14

What is the current status of stETH in the Maker Protocol?

Let's find out.

🧵

stETH collateral represents ~3% of all DAI collateralization.

This is $260 million worth of collateral.

1️⃣ WSTETH-A vault type:

• 204,661.12 WSTETH locked worth $243.2 million.

• 82.9 million DAI total debt.

• 293.42% overall collateralization (minimum collateralization is 160%).

Read 7 tweets

Maker

@MakerDAO

Jun 13

@AaveAave

A new Signal Request proposes to temporarily set the @AaveAave D3M Debt Ceiling to zero.

This proposal argues that "the current environment is risky to extend a 100 million Debt Ceiling (current Debt Ceiling) when the dominant theme is redemption."

👇

forum.makerdao.com/t/signal-reque…

@AaveAave

@AaveAave The specific risks of Aave described in this proposal are:

• Large exposure to stETH

• Large surface area due to cross-collateralization where locked collateral can be taken out by other borrowers

• Exposure to centralized bridge failure risk due to multi-chain operation

@AaveAave

@AaveAave Pros outlined in the proposal:

• Risk Profile is now higher and these new factors should be discussed

• The Stability Fee rate in Maker and Aave are already at parity which means we do not need this D3M to operate right now, so it can be turned off without causing any issues

Read 6 tweets

Maker

@MakerDAO

Jun 13

The Maker Protocol has executed 290 liquidation auctions over the last 4 days.

• 47.8 million DAI auctioned.

• 42.3 million DAI covered from risky debt.

• 5.5 million DAI made from penalty fees.

A recap on the latest liquidation event.

🧵

💸 The largest liquidation auction was executed from an ETH-B vault:

• 9,101 ETH sold for 11,011,040 DAI.

• 9.7 million DAI to cover the debt.

• 1.2 million DAI from the 13% penalty fee.

makerburn.com/#/liquidations…

📆 Just today, Monday June 13th, the Maker Protocol executed +60% of all 290 liquidation actions.

Today's stats:

• 179 liquidation auctions.

• 34.4 million DAI to cover risky debt.

• 4.4 million DAI from penalty fees.

maker.blockanalitica.com/auctions/?date…

Read 7 tweets

Maker

@MakerDAO

Jun 10

An important ongoing discussion is being held in MakerDAO around the "Growth Strategy."

Named "Long-term Growth Strategy for the Future of DeFi," the most recent post on this topic shares important views from the core of this growth idea.

A recap.

🧵

1/

The post begins with the "House of DAI."

It is a structure that includes:

1) "Foundations," which describe where the Maker Protocol is today.

2) "Primary pillars," which describe the most important parts of this hypothetical growth-oriented future.

2/

The first foundation would be the asset base of the Maker Protocol.

According to the same set of ideas, this asset base lies fallow and "needs to be the beating heart" of Maker through conservative investments and productive management.

3/

Read 17 tweets

Share this page!

Maker

People who liked this thread also liked...

Try unrolling a thread yourself!

More from @MakerDAO

Maker

Maker

Maker

Maker

Maker

Maker

Did Thread Reader help you today?

Don't want to be a Premium member but still want to support us?