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Dec 3 • 9 tweets • 6 min read
This is the #MakerUpDaits!

December has arrived, 2023 is just around the corner...

Meanwhile, MakerDAO, the Maker Protocol, and DAI had a very interesting month in November.

Let's see what happened

🧵↓ Image
📈 The GUSD in the PSM peaked at 500 million GUSD.

According to @Gemini's GUSD Partnership, MakerDAO will receive its first monthly payment from a 1.25% annual rate on any GUSD present in the PSM.

→ forum.makerdao.com/t/gusd-makerda… ImageImage
💰 Real-world assets (mainly Monetalis Clydesdale, short-term bonds investment) and stablecoins (mostly GUSD yield) represent ~70% of the annualized revenue generated by the Maker Protocol.

This snapshot was taken from → dune.com/queries/152371… Image
💨 The Maker Protocol experienced a minor liquidation event during November's market downturn:

• 28 liquidation auctions.

• 1,404,929 total DAI auctioned.

• 1,243,300 DAI debt covered.

• 161,629 collected from liquidation penalties.

→ makerburn.com/#/liquidations Image
🌀 We officially announced the Maker Teleport with a 10,000 DAI grant to integrate this game-changer, multi-chain infrastructure into a functional user interface.

🙌 Thanks @ethgathering for hosting this special event where many MakerDAO contributors had the opportunity to share their views about DAOs, governance, delegation, real-world assets, and more!

🚀 @Rocket_Pool staked ETH was onboarded as collateral in the Maker Protocol!

All rETH holders can now generate decentralized liquidity in the form of DAI against their rETH holdings, without losing their exposure to @Rocket_Pool's staking rewards.

🦉 Maker Governance approved @GnosisDAO's GNO governance token as collateral in the Maker Protocol!

→ vote.makerdao.com/polling/QmUBoG… Image
💸 The Maker community started to discuss a potential Dai Savings Rate (DSR) reactivation and ended up voting to approve a DSR increase to 1.00%

Maker is closer than ever to connecting TradFi yields to DeFi!

→ vote.makerdao.com/polling/QmV3oN… ImageImage

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More from @MakerDAO

Maker Profile picture
Dec 2
Today's Executive Proposal is packed with exciting implementations, and has just been enabled on the Maker Governance portal!

🗳 vote.makerdao.com/executive/temp…

MKR holders and Delegates can now use their voting power to execute the following proposed changes to the Maker Protocol

1/
🚫 Activate Liquidations on Stablecoin Vaults

Liquidations auctions will be turned on for all USDC-A, USDP-A, and GUSD-A vaults whose collateralization ratio is below 101%, according to the following parameter changes, if this executive proposal passes:

2/
• Use Linear Decrease for Auction Price Function (calc).

• Set Liquidation Penalty (chop) to 0.

• Set Proportional Kick Incentive (chip) to 0.

• Set Flat Kick Incentive (tip) to 0.

• Set Auction Price Multiplier (buf) to 1.

3/
Read 11 tweets
Maker Profile picture
Nov 30
Maker Governance is voting on a set of parameter changes proposed by the MakerDAO Open Market Committee.

🗳 vote.makerdao.com/polling/QmVXj9…

If approved, these changes will impact different Maker Vault, PSM, and D3M parameters.

Here is an overview.

🧵↓

1/ Image
💰 Maker Vault Debt Ceilings

• Increase the WSTETH-A Maximum Debt Ceiling from 150 million DAI to 500 million DAI.

• Increase the WSTETH-B Maximum Debt Ceiling from 200 million DAI to 500 million DAI.

2/
• Reduce the ETH-B Maximum Debt Ceiling from 500 million DAI to 250 million DAI.

• Reduce the WBTC-A Maximum Debt Ceiling from 2 billion DAI to 500 million DAI.

• Reduce the WBTC-B Maximum Debt Ceiling from 500 million DAI to 250 million DAI.

3/
Read 13 tweets
Maker Profile picture
Nov 28
We've had a very dynamic monthly governance cycle.

Out of 13 polls, Maker Governance approved 4 proposals and rejected the other 9.

In terms of DAO balance sheet investment implementations, there were 4 proposals:

🧵↓ Image
🚫 MIP86: CoinShares Active Treasury Management — rejected with 72% of the voting power.

MIP86 intended to invest up to 500 million USDC from the PSM into corporate bonds, with an investment strategy managed by @CoinSharesCo

→ vote.makerdao.com/polling/QmXpRm… Image
🚫 MIP87: OUSD Decentralized Rewards — rejected with 72% of the voting power.

MIP87 intended to deploy 100 million USDC from the PSM into the Origin Dollar (OUSD), sustained by @OriginProtocol, to earn a constant daily yield.

→ vote.makerdao.com/polling/QmZKwb… Image
Read 8 tweets
Maker Profile picture
Oct 24
Coinbase Institutional Rewards (MIP81) has been approved by Maker Governance through a Ratification Poll.

🗳 vote.makerdao.com/polling/QmbMaQ…

This outcome enables Core Units to initiate the onboarding of 33% of the PSM's USDC to @Coinbase's Institutional Rewards program.

🧵↓

1/
On September 6th, @CoinbaseInsto submitted MIP81: Coinbase Institutional Rewards.

This proposal aims to onboard 33% of the PSM's USDC to @Coinbase Prime and thus allow @MakerDAO to participate in @Coinbase's Institutional Rewards program.

↓

forum.makerdao.com/t/mip81-coinba…

2/
The program described the following yield schedule for the USDC onboarded by @MakerDAO:

• 1% APY on the first 100 million USDC.

• 0.1% more APY on each 100 million USDC thereafter.

• Rewards are not to exceed 1.5% APY.

3/
Read 7 tweets
Maker Profile picture
Oct 4
In recent months, the Maker community has seen multiple proposals pursuing initiatives to invest the stablecoins allocated in the PSM with the aim of diversifying MakerDAO's revenue streams.

What are these proposals and how are they doing?

🧵↓

1/ Image
1️⃣ MIP65: Monetalis Clydesdale: Liquid Bond Strategy & Execution

This MIP aims to onboard a real-world asset (RWA) Maker Vault with a debt ceiling of 500 million DAI that will acquire USDC via the PSM and invest them in approved bond strategies.

→ forum.makerdao.com/t/mip65-moneta…

2/
In May 2022, MKR holders and Delegates voted in favor of implementing MIP65 in a Governance Poll.

• 76,321 MKR voted for YES (71.19%)

• 16,337 MKR voted for ABSTAIN (15.24%)

• 14,552 MKR voted for NO (13.57%)

🗳 vote.makerdao.com/polling/QmXHM6…

3/ Image
Read 16 tweets
Maker Profile picture
Oct 3
This is the #MakerUpdaits!

Q3 is over, and September was one of the most relevant months of the year for MakerDAO, the Maker Protocol, and DAI.

Let's see why.

🧵↓
Oracles Core Unit Facilitator @nomosparadox announced the soft launch of Chronicle 🚀

The first decentralized, community-run Oracle network.

We had a great time at @ETHWarsaw 🇵🇱

Thanks to all of you who have made it possible!

Read 13 tweets

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