Summary: February had 11 Core Units publish some kind of update covering their recent work done. In addition to regular updates, Growth published an update about their offsite during the first week of February. Four Core Units published a monthly update covering the entire month of February. Delegation updates include both February's compensation and the delegate round-up (keep in mind that delegation updates are posted by GovAlpa!) MOMC updates include parameter recommendations for both February and March. Table of Contents: Collateral Engineering Services Development and UX GovAlpha Governance Communications Growth Immunifi Security Risk Sustainable Ecosystem Scaling Sidestream Auction Services TechOps Delegation MOMC Collateral Engineering Services CES Sprint Update #1 (2022/Q1 - Jan 31st to Feb 11th 2022) As defined in the Collateral Management Lifecycle (CML) post, the life cycle implies two big focus areas for CES: Collateral Onboarding and Collateral Maintenance. Within these areas we categorize our output into a set of deliverables(COD1-3, CMD1, CMO1). From now on, CES will provide a bi-monthly update synced with the end of each sprint (2 weeks work cycle). Roadmap: collapse version - only milestones Collateral Onboarding COD1 - COB Process EPIC: Collateral Onboarding Process Revamp ● Collateral Onboarding Process document drafted and shared with stakeholders for assessment. Currently in RFC. ● Started defining metrics for which a benchmark for good collateral candidates for onboarding can be created. ● Collateral Status Index forum post, spreadsheet updates and ownership has been transferred from GovAlpha CU to CES CU. Updating process will remain unchanged for now. COD2 - Off Chain Collateral Onboarding EPIC: Societé Generalé OFH Onboarding ● 2 new features have been implemented into the smart contracts for this collateral based on commercial, legal, and operational requirements. ● Refactor RwaConduit contracts to follow a more modular structure and best practices from other MakerDAO repositories. ● The team has successfully deployed an internal Goërli test environment, and onboarded a test version of OFH with an executive spell. Furthermore, the team has executed the borrow and repay DAI flows for the SocGen collateral. ● The content of the SocGen Technical Assessment document is finished. Formatting, wording, and final review is WIP. ● Created wireframes and defined functional requirements for RWA GUI for stakeholders of the SocGen deal. EPIC: Off-chain Technical Advisory ● Provided technical advisory support to RWF potential deals (names intentionally withheld). ● Provided technical advisory on institutional vaults UI and integrations COD3 - On Chain Collateral Onboarding EPIC: On-board crvstETH as collateral ● No work by CES done in this sprint. ● Status: Awaiting the audit for the vault manager by PE. EPIC: On-chain Technical Advisory ● Provided timely feedback to the PUNKS MIP6 application. ● Updated Collateral Status Index with new applicants Collateral Maintenance CMD1 - Collateral Operations EPIC: Scope Collateral Maintenance ● Collateral Offboarding Review document drafted and shared with stakeholders for assessment. Currently in RFC. General Updates CMO1 - CU Management & Operations EPIC: CES Budget Cycle ● Status: Formal Submission - MIP40c3-SP57: Modify Core Unit Budget - Collateral Engineering Services (CES-001) EPIC: CES Onboard, hiring, accounting ● Vetted candidates for the Lead Smart Contract Engineering position ● Vetted candidates for the VA Office Manager position ● Completed CU payroll and expense payments ● Delivered January 2022 CES CU budget summary to @Aes CES Sprint Update #2 (2022/Q1 - Feb 14th to Feb 25th 2022) As defined in the Collateral Management Lifecycle (CML) post, the life cycle implies two big focus areas for CES: Collateral Onboarding and Collateral Maintenance. Within these areas we categorize our output into a set of deliverables(COD1-3, CMD1, CMO1). CES provides a bi-monthly update synced with the end of each sprint (2 weeks work cycle). Questions ❔ Join our Discord and engage with us! JOIN NOW Roadmap: collapse version - only milestones Collateral Onboarding COD1 - COB Process EPIC: Collateral Onboarding Process Revamp ● Collateral Onboarding Process document currently in RFC from stakeholders and core units. COD2 - Off Chain Collateral Onboarding EPIC: Société Générale OFH Onboarding ● Created a helper smart contract to ease the operations when paying the loan, exiting the vault and unlocking the OFH tokens from the wrapper contract (wOFH) ● Reviewed the OFH token code base in order to clarify legal questions. ● Enabled SocGen to define any address as recipient for DAI in the Output Conduit smart contract. ● Started development of the GUI which will be used by DIIS Group. EPIC: Off-chain Technical Advisory ● Provided technical advisory support to RWF potential deals (names intentionally withheld). COD3 - On Chain Collateral Onboarding EPIC: On-board crvstETH as collateral ● No update. EPIC: On-chain Technical Advisory ● Further support to PUNKS MIP6 application. ● Updated Collateral Status Index with poll status updates. EPIC: MIP6: Establish collateral benchmarks ● Continued work on defining metrics for which a benchmark for recommended collateral candidates for onboarding and offboarding can be created. Collateral Maintenance CMD1 - Collateral Operations EPIC: Scope Collateral Maintenance ● Collateral Offboarding Review document currently in RFC. General Updates CMO1 - CU Management & Operations EPIC: CES Budget Cycle ● Status: Poll passed - MIP40c3-SP57: Modify Core Unit Budget - Collateral Engineering Services (CES-001) EPIC: CES Operations ● New Team Member! Everyone welcome Arnulfo Taghoy @agtaghoyjr . He’ll be joining us as a Project Manager for CES. ● Two candidates identified for the Lead Smart Contract Engineering position. ● Posted the Collateral Program Manager position. ● Established a Discord channel to engage with Delegates. ● Stakeholder and CU alignment meetings at ETH Denver. ● All MakerDAO community members are welcomed to Join our Discord and engage with us! JOIN NOW Development and UX DUX Monthly Update: February 2022 Thanks for reading the monthly update of the DUX (Development & UX) Core Unit! These updates serve as a vehicle for transparency with regards to our work and focus. We aim to stick to the format suggested by @Artem_Gordon of GovComms. In addition to these lower-timeframe updates we do quarterly roadmap updates on the Forum. Lastly, we’re always available for inquiries on the MakerDAO Discord or on our DUX Discord server. tl;dr February 2022 was an unusual but productive and important month for our team. Instead of the usual design & development sprints on the Governance Portal with a two-week release cadence, we have spent the whole month working on a thorough code refactor and technical research, followed by an intense team offsite scheduled around the ETHDenver conference. The time invested in February has laid the groundwork for a bunch of new features and cross-CU initiatives that our team will be executing on over the coming months. Product updates We have been focussing on three workstreams last month; a thorough code refactor of the Governance Portal, technical research into gasless voting mechanisms, and a redesigned landing page. Governance Portal code refactor At the end of last year we decided to take on the biggest chunk of technical debt related to the Governance Portal; its dependencies on dai.js—a library built by Maker developers earlier (pre-DAO) which enables basic web3 functionalities (eg. connecting to wallets, smart contract calls) and interactions with the Maker system (eg. interacting with Vaults). These days the web3 ecosystem is sprawling and some open-source libraries ended up becoming a more efficient and developer-friendly alternative to dai.js. In addition, maintaining the library adds huge overhead to our team when we’d rather focus on the Governance Portal codebase. The code refactor will make the Governance Portal more reliable (ie. stable and secure) but also easier to maintain and work with. Our team has worked hard on researching technical solutions and rigorously refactoring the codebase. With rigorous I’m talking 280 commits and 382 files changed so far. We’re nearly there and the upcoming Governance Portal release will feature the refactored codebase, in addition to new features and improvements. Gasless voting research The second workstream we have been focussing on is researching mechanisms for gasless poll voting. Decreasing the friction of participating in Maker governance is our single biggest priority at this point since we believe it’s an important lever in increasing governance participation. We have looked into various options, ranging from an integration with Snapshot to more bespoke (ie. custom-built) solutions. We have converged onto a few potential implementations which we will pitch to select CUs for feedback in the upcoming two weeks. Stay tuned for more info! Landing page redesign While our engineers were working on the above, our designer Tiago has been working on a redesign for the Governance Portal’s landing page. We kicked off the initiative earlier this year through an ideation session in which we brainstormed which functionalities and what data should be displayed there. The landing page redesign also inspired us to rethink our data architecture—the result is a snappier Governance Portal which is more comfortable fetching large amounts of data at once. Keep your eye out for the redesign! Team updates Team offsite & ETHDenver conference Our entire team of six has met in Denver, CO for a two-week team offsite and conference visit. It’s been an intense but fruitful time; we spent quality time together as a team and had the opportunity to advance on some more difficult topics through an on-site workshop and low-key discussions. In addition we were able to connect with quite a few MakerDAO folks outside of our own team and discuss various topics that transcend a single CU’s mandate. We felt a strong and confident Maker presence throughout the conference, manifested not only by the sheer number of MakerDAO affiliated individuals (CU members, delegates, etc) attending but also through talks and panels, and ofcourse the incredible DAIvinity party hosted by MakerDAO. It definitely feels like the brand perception of Maker has increased compared to a year ago. Big ups to @Growth-Core-Unit for their work which brought us here. Lastly we had some fruitful encounters and conversations with individuals from other teams (eg. Yearn, Aave, Gitcoin) about protocol DAO governance challenges amongst other topics. I’m convinced that the connections and conversations that were formed during this offsite have planted seeds which will lead to initiatives later this year. Facilitator role switch As seen on the forum in January [1] [2], @bainpm formally handed over the CU facilitator role to @0xdeniz in order to fully focus on coding, research and architecture design. The governance proposal passed which formalized the graceful transition. Do you have any feedback or feature requests for the Governance Portal, or ideas for improving Maker’s governance UX in general? Please reach out in the comments below or join our Discord server. GovAlpha GovAlpha Weekly Update - 2022-02-04 Highlights ● Lots of work is being done on our next Core Unit DAI Budget. A bit of alpha: ○ Will be a 12-month budget ○ New expense categories to conform and help @Aes with the DAO-wide accounting ○ Budgeting for a third facilitator ● Drafting an MKR Core Unit budget, with a new formula we think might be useful for other CUs Quarterly Focuses Participation ● First pages of the Maker Operational Manuel in Spanish have been pushed! Should aid in making Governance more accessible. ● Meet Your Delegate #9 - Hasu, scheduled for next Wednesday Exploration ● @hernandoagf has been crushing things, exploring alternative incentivization mechanisms ● @TheExistence is out on vacation, but @prose11 gave a final review to his SourceCred research this week so keep your eyes peeled ● Long and Prose have been put in touch with a voting systems expert to explore the best methods for prioritization voting (thanks for the connection, @Andrew_Hall ) Other Stuff ● @Gala shadowed our invoicing process this week and has been stepping up to streamline our financial practices. ● @Patrick_J and @blimpa stepped up to write and review today’s Executive, Prose was quite satisfied ● @Patrick_J also published the Delegate Round-up January 2022 Weekly Tasks ● Executive Process - @Patrick_J & @blimpa doing the hard work, @prose11 signing off ● Polls Process - @prose11 ● Governance and Risk Meeting Chair - @prose11 ● GovAlpha Weekly Update - @prose11 ● Delegate Metric Tracking - @Patrick_J ● MIPs update - @Blimpa , @Gala and @Sebix ● Office Hours - @LongForWisdom & @prose11 GovAlpha Weekly Update - 2022-02-11 Highlights ● Not one but TWO budget proposals went live this week, check our DAI Budget and MKR Compensation proposals. ● Key contributions to making the Maker Operational Manual available in Spanish. Quarterly Focuses Participation ● Organizing meet ups with Delegates and VCs for ETHDenver. ● Chatting with @twblack88 about governance/ future of delegation. Exploration ● @AstronautThis exploring the ESM Threshold level (recently upped to 100,000 MKR). ● Researching alternative community compensation/incentivization structures (like Coordinape) for a coming discussion on the Protocol’s use of SourceCred. ● Meeting with SES to talk Maker Dashboards. ● Meeting with Strategic Finance to demo new budget reporting. Other Stuff ● @blimpa continues MIP onboarding for @Sebix and @Gala who spent time reviewing MIPs for Formal Submission. ● @Patrick_J keeping our Governance Tracker in good shape. ● Introduced @hernandoagf to Data Insights to help with some governance queries. ● @LongForWisdom drafting some awesome governance flow charts. Weekly Tasks ● Executive Process - N/A (taking a brief break on planned executives) ● Polls Process - @prose11 , @blimpa , @Sebix , @AstronautThis , @Gala ● Governance and Risk Meeting Chair - @prose11 ● GovAlpha Weekly Update - @prose11 ● Delegate Metric Tracking - @Patrick_J ● MIPs update - @Blimpa , @Gala and @Sebix ● Office Hours - @LongForWisdom GovAlpha Weekly Update - 2022-02-18 Highlight GovAlpha began releasing the off-chain governance incentive reports, analysis and next-steps in response to the renewed community interest in SourceCred. Thanks to @TheExistence and @hernandoagf ! Quarterly Focuses Participation ● @LongForWisdom leaving participation-related comments on @GFXlabs Governance Mining Trial signal. ● @prose11 networking at ETHDenver and taking part in discussions involving both delegates and large MKR Holders. ● @hernandoagf working on building a governance metrics dashboard. Exploration ● @LongForWisdom has produced and added flowcharts to the governance section of the Maker Operational Manual. PR here, should be live very soon. I’ll post one of these as a tease as a reply to this thread. This meets one of our stated objectives for this quarter. ● @hernandoagf working on customizing discourse forum plugins for use here in Maker’s forum. Other Stuff ● Bit of a slow week for much of GovAlpha, onboarding work continued with respect to MIPs ( @blimpa , @Gala and @Sebix ) and polls processes ( @Patrick_J and @TheExistence ). ● Minor work on the Maker Operational Manual. LFW and @Gala reviewing and merging some outstanding PRs. ● @LongForWisdom discussing with @colby about how best to work together with the goal of producing high quality governance-related educational and reference content for both the Maker Academy project, and the Maker Operational Manual. ● @prose11 networking and generally discussing and learning from others at ETHDenver. Particularly on the subjects of real world assets and layer 2 implementation. Weekly Tasks ● Executive Process - N/A (taking a brief break on planned executives) ● Polls Process - @Patrick_J , @TheExistence , @Gala , @Sebix ● Governance and Risk Meeting Chair - N/A (no official call this week due to ETHDenver) ● GovAlpha Weekly Update - @LongForWisdom ● Delegate Metric Tracking - @Patrick_J ● MIPs update - @Gala ● Office Hours - @LongForWisdom GovAlpha Weekly Update - 2022-02-25 Highlight Nothing really worth highlighting this week. More or less business as usual and incremental progress on a number of initiatives. Quarterly Focuses Participation ● @TheExistence and @LongForWisdom working on the off-chain governance incentives options and recommendations post. ● @hernandoagf continuing his work on a governance dashboard. ● @Patrick_J working on onboarding some of our new Recognized Delegate applicants. Exploration ● No progress to report this week. Other Stuff ● @Gala getting a handle on invoicing, payment and accounting processes within GovAlpha. ● @hernandoagf and @AstronautThis working on parameter documentation for the Maker Operational Manual. ● @AstronautThis continuing to investigate how to determine a good value for the ESM Threshold. ● @prose11 catching up on everything after EthDenver. Weekly Tasks ● Executive Process - @Patrick_J + @LongForWisdom ● Polls Process - @prose11 , @TheExistence , @Gala ● Governance and Risk Meeting Chair - @prose11 ● GovAlpha Weekly Update - @LongForWisdom ● Delegate Metric Tracking - @Patrick_J ● MIPs update - @Gala , @blimpa ● Office Hours - @LongForWisdom Governance Communications GovComms Biweekly Update: Jan 31 - Feb 11 Administrative Update Mandate Refresh Posted here. As a part of the mandate refresh, we restructured our public drive’s 02 | Programs folder and created program roadmap charts for all of our programs. You can see a .png image of each within their respective folders. Budget Expansion A budget modification proposal will be coming from us around the first week of March. Expect: ● Increase in part-time Contributor funding needs by 2x. ● Increase in full-time compensation needs, forecasting a potential new hire in Q3-Q4 and raises to existing employee salaries. ● Other house-keeping modifications, outlined in column L of our public budget sheet’s Monthly Budget View. Contributor needs A couple of people have reached out and several referrals have been sent our way. Thank you for hearing our needs! We are in the process of onboarding at least one individual, with more to come. MakerDAO.World acquisition We’ve come to an agreement with the former MKT-001 facilitator to acquire the makerdao.world domain and associated gsuite account for 500 Dai. We have no intention to use the domain for any active projects, feel free to reach out to us if you’re interested. We acquired these assets to take ownership of the @makerdao.world email server which our team uses. ETHDenver Our team is set to be there from February 16th - 20th. We are collaborating with various MakerDAO folks on a shared resource to track events, talks, people, and other resources. Our trip overview document 3 outlines our team and individual goals for the trip. COM-001 Feedback Survey Our team set up a Governance Communications Happiness Feedback Survey with the objective to help us receive feedback on your experience with our communication, relevance, timeliness, transparency, collaboration, inclusiveness, and integrity as a Core Unit. Program Updates Weekly Relay We are onboarding a new contributor to help us with production. State of Dai We are considering ways to expand coverage to vault user behavior analysis. If you are interested in contributing to this, reach out to @Artem_Gordon Forum at a Glance Forum at a Glance now contains greater detail for the descriptions of each post. This has increased the amount of time needed for each release, and has resulted in late publishing times these past two weeks. Artem has shifted his workflow to make sure it is published on time before Thursday’s Governance and Risk call. Monthly & Annual Governance Review January’s issue came out Friday, February 4th. Monthly Core Unit Updates January’s issue came out Monday, February 7th. Artem_Gordon erroneously missed the Risk team update, and made the fix to include them. Initiatives Tracking, Reporting, & Stakeholder Alignment Calls COM-001 acts as the coordinator for the CMON, CMOFF, and SEC initiative Stakeholder Alignment calls. Over the last two weeks these three initiatives have been moved from the Work Breakdown phase into a Production Coordination phase which will help streamline the tracking of deliverables and milestone progress within these initiatives. We will be presenting updates once per month per initiative until we have the capacity to move to a bi-monthly update schedule. Public Calendars No major updates here. Calls Votes & Important Dates Stakeholder Database We are continuing to work with TechGDPR to bring this project into a state of GDPR compliance. Issue Discussion Calls On February 9th, Thomas Flitter hosted our monthly issue discussion call where we explored the facilitator and core unit offboarding process. Check out the video below Emergency Playbook We reviewed a new Incident Response Roles document created by the IS-001 team and are in the process of building it into the Emergency Playbook and creating a Incident Role Assignments Tracker which we will soon do outreach to populate. Press Relations Support We spoke to several people on the topic this week and will be moving forward with expanding our scope in this program. Assuming our mandate renewal and upcoming budget modification passes in April, we will be clear to start hiring for a full-time Public Relations PM in May 2022. Communication Platform Stewardship No update here. Published 01/31/22 - 02/11/22 Weekly Relay Weekly Relay: January 25 - 31, 2022: English | Spanish Weekly Relay: February 1 - 7, 2022: English Spanish State of Dai State of Dai: January 25 - 31, 2022 State of Dai: February 1 - 7, 2022 Forum at a Glance January 27 - February 3, 2022 February 3 - 10, 2022 Monthly Core Unit Updates January’s issue Transparency Govcomms.MakerDAO.Network Notion Page Finances Public Google Drive GovComms Biweekly Update: Feb 14 - Feb 25 Administrative Update Budget Expansion A budget modification proposal will be coming from us at some time next week. Expect: ● Increase in part-time Contributor funding needs by nearly 2x. ● Increase in full-time compensation needs, forecasting a potential new hire in Q3-Q4 and raises to existing employee salaries. ● Other house-keeping modifications, outlined in column AG of our public budget sheet’s Monthly Budget View. MakerDAO.World acquisition We have sent payment to Gold Media and are waiting on the transfer of the makerdao.world domain. ETHDenver Our team was there from February 16th - 20th. ● The entire team met together for the first time. ● All three of us attended ETHDenver. ● We had a team breakfast every morning to recap the previous day and discuss various matters, including our team’s vision and objectives for the coming year. ● David, GovComms Facilitator, organized and participated in the Mandated Actor & Recognised Delegate dinner. ● All three of us attended the Daivinity Maker Event. ● David and Thomas attended the Winterproof RWF panel. ● We individually attended various other side events. ● We documented individual goals in our trip overview document. COM-001 Feedback Survey Our team set up a Governance Communications Happiness Feedback Survey with the objective to encourage feedback on stakeholder experience with our team’s communication, relevance, timeliness, transparency, collaboration, inclusiveness, and integrity as a Core Unit.