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Jul 4 • 5 tweets • 2 min read
The first collateral integration from a US-based bank in the DeFi ecosystem is getting closer.

The Maker Governance votes to add RWA-009, a 100 million DAI debt ceiling participation facility proposed by the Huntingdon Valley Bank, as a new collateral type in the Maker Protocol
Huntingdon Valley Bank, a Pennsylvania Chartered Bank founded in 1871, is seeking a 100 million DAI debt ceiling participation facility to support the growth of existing businesses and to grow new businesses.
This application proposed a legal structure wherein Huntingdon Valley Bank enters into a Master Purchase Agreement with a trust for the benefit of MakerDAO.

For further reading, we recommend the following threads:

👇
Signal Request Recap (Original Proposal)

Risk Assessment Recap:

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More from @MakerDAO

Maker Profile picture
Jul 1
The MakerDAO Open Market Committee published a new Parameter Changes Proposal.

This proposal is composed of different parameter changes for various Maker Vaults based on market conditions and their potential implications for Maker.

Here is the breakdown 🧵

1/
1️⃣ GUNIV3DAIUSDC1-A: Increase Stability Fee to 0.01%.

Based on recent historical data this should not immediately push G-UNI positions below profitability, but will help prevent excessive increases in exposure while the AMM pool utilization is very low.

2/
2️⃣ UNIV2DAIUSDC-A: Increase Stability Fee to 0.01%, increase Maximum Debt Ceiling to 300 million, and increase gap to 20 million.

Stability Fee increase is proposed for similar reasons as in the GUNI vault type.

3/
Read 13 tweets
Maker Profile picture
Jun 30
What are the current priorities of Core Units?

The GovAlpha Core Unit has proposed a new implementation to coordinate priority items between MKR holders and Core Units.

This proposal has been converted into two Priority Sentiment Polls that are currently active.

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1️⃣ Prioritization Sentiment - Collateral Class

🗳 vote.makerdao.com/polling/QmdZez…

What collateral classes should Core Units prioritize?

These are the options with the most votes so far:

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🥇 Core Crypto Collateral (67,626 MKR voting): ETH and BTC implementations (including their derivatives). Example: Wrapped Staked ETH.

🥈 Peg Stability Solutions (25,238 MKR voting): Solutions designed to strengthen the DAI peg to the US Dollar. Example: USDC PSM.

3/
Read 8 tweets
Maker Profile picture
Jun 29
.@BackedFi submitted a Collateral Onboarding Application (MIP6) for tokenized short-term permissionless securities backed 1:1 with an underlying short-term bond ETF.

A recap of this interesting and strategic proposal.

🧵

1/
@BackedFi .@BackedFi, via backedassets.fi, will create and issue tokenized IBTA (short-term bond ETFs) securities on Ethereum.

The tokenized IBTA securities will represent 1 for 1 unit of a short-term fixed income ETF, holding a series of 50 T-Notes issued by the US treasury.

2/
@BackedFi These tokenized IBTA securities will be sold to market participants, which will pass KYC and AML, and will have the ability to mint and redeem token securities for the underlying.

These market participants could then deposit the IBTA tokens in a specialized Maker Vault.

3/
Read 6 tweets
Maker Profile picture
Jun 29
The latest Executive Proposal is now live on the Maker Governance portal!

We encourage $MKR holders and Delegates to consider voting on this Executive Proposal if they support the following changes to @MakerDAO.

vote.makerdao.com

👇🗳

1/
❌ Collateral Offboarding

As per the successful polls for offboarding UNI-A, UNIV2DAIETH-A, UNIV2WBTCETH-A, UNIV2UNIETH-A, and UNIV2WBTCDAI-A, the following changes to liquidation parameters will take place if this executive proposal passes:

2/
🔴 UNI-A:

• Increase the Liquidation Ratio from 165% to 1300% over 30 days using linear extrapolation (dss-lerp).

• Decrease the Flat Kick Incentive (tip) to 0.

• Decrease the Liquidation Penalty (chop) to 0%.

3/
Read 10 tweets
Maker Profile picture
Jun 28
These four Collateral Onboarding Applications are taking their final steps toward the full implementation into the Maker Protocol:

• rETH
• @compoundfinance D3M
• Huntingdon Valley Bank
• Societe Generale

What is the status? 🧵
@compoundfinance rETH (@Rocket_Pool staked ETH)

✅ Governance Poll passed: vote.makerdao.com/polling/QmfMsw…

🔍 Maker domain teams are working on the integration.

The Executive Vote is the last step of the governance cycle.

If approved, it would enact the addition of rETH into the Maker Protocol.
@compoundfinance @Rocket_Pool @compoundfinance Direct Deposit Module (D3M)

✅ Governance Poll passed: vote.makerdao.com/polling/QmWNkN…

🔍 Maker and Compound teams are working on the integration.

Once the code audit is complete, the risk parameters in the existing Risk Assessment would be updated.
Read 5 tweets
Maker Profile picture
Jun 26
Maker Governance activity is heating up.

Whatever the reason, this is a meaningful moment for the involvement of decentralized governance within a decentralized autonomous organization.

As a DAO, record highs in governance participation are something to celebrate.

🗳

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Governance participants are composed of:

• 19 Recognized Delegates with 68.9k MKR delegated.

• 57 Shadow Delegates with 49.2k MKR delegated.

• 145 Delegators.

2/ Image
Total MKR delegated is at an all-time high of 118.2k MKR.

Total MKR staked on the Maker Governance Contract is at 174.26k MKR, approaching its previous all-time high of 218.07k MKR.

3/ Image
Read 7 tweets

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