Formal Governance

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Thank you all for joining the weekly meeting. We have 19 participants on the call today.

This part of the meeting will be recorded and will serve as the formal record of the community consensus. Agenda items should be posted to forum.makerdao.com or in #meeting-agenda on Rocket Chat

Upon conclusion of the formal portion of the meeting, further topics will be discussed and debated.

On Record:

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Dev Update:

Maker Core (DRI: rain/mbrock/dbrock):

• Sai - Simplecoin (DRI: Rain)
  • Updates on CLI and work on documentation
  • Explorer updated with UI fixes
  • Fees have been implemented (needs a redeploy)
    • Last major work item
    • Can test price feedback loops
  • Still needs to optimize for gas limit
  • LPC (liquidity providing contract)
    • Live, but requirements are unclear
    • Oasis is an option

• Maker Model : (DRI: mbrock):
  • Made the Purple Paper into a website (instead of a PDF). Interactive popup glossary for extra helpfulness. Prototype on
  • https://castle.brockman.se/purple/ video here:

• Keepers (DRI: reverendus)
  • Polychain will be a keeper
    • Bringing on a full time employee

Oasis (DRI: Geronimo):

• General:
  • Nik and r001 are optimizing the current order matching contracts
  • Deployed oasis with order matching
    • http://matcher.oasisdex.surge.sh/#trade/W-ETH/MKR (kovan only)

• Frontend:
  • Georgi is working on frontend changes for order matching
  • Geronimo is almost finished with designing the new frontend.

Video (DRI: kenny):

• Done

Marketing (DRI: Matt)

• .eth domain registries
  • Oasisdex
  • Makerdai
  • stablemoney
• New website development

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Foundation Update:

MKR Sale update (DRI: rune + zandy):

• Rune sold 302.8 MKR for 350 ETH

General Topics:

Topics discussed here are not binding and should not be taken out of context of an open discussion. More is said during the general topics than what can be faithfully transcribed into written text

• Unlucky trader https://etherscan.io/tx/0x8ebd2afc3e5cec739227f1a45f97b0aacc2b6d56abae349536149ff532b6d277
  • Buyer: 0x4297036257e08635dd5b2a5ef28249017d8c4d45
  • Contact foundation at chat.makerdao.com

• Sai test round
  • Collect all participating May invoices and assess final USD requirements
    • Add addresses to whitelist (needed for LPC)
  • Create cup at XXX collateralization (suggest 300%)
  • Issues Sai to invoice holders
  • Transfer enough ETH to LPC to cover Sai redemptions
    • Possibly deploy Sai to oasis
  • Allow participants experiment with Sai as desired, then cage on June 25th

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