Formal Governance

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Thank you all for joining the weekly meeting. We have 17 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)
  • Refactoring core contracts for gas limit
  • Explorer updated to list stability fee
  • Feeds have been made more robust

• Maker Model : (DRI: mbrock):
  • No update

• Keepers (DRI: reverendus)
  • API layer ready for some of the Sai-related operations - Nik
  • two most basic keepers POC:
    • cup top-up
    • cup liquidation

Oasis (DRI: Geronimo):

• General:

• Frontend:
  • Transfer page will show only the transfer history of the user instead of all transfers.
  • New buy/sell popup with estimated gas fees for automatic order matching will be tested in the coming week.

Marketing (DRI: Matt)

• .eth domain registries
  • daistablecoinsystem
• New website development
  • New addition to the team - go0t

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Foundation Update:

MKR Sale update (DRI: rune + zandy):

• Daily MKR sale suspended while dealing with tax question (as ETH funds are more at risk than MKR funds that can be burned and reinflated)

Fully resolving the question of danish donation tax on MKR will likely take at least 3 months, but almost certainly be in our favor as there are already favorable rulings on bitcoin (but no rulings concerning cryptocurrency as a whole).

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

• 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 30th

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