15° AVC Subcommittee meeting | Stability Scope | Sovereign Finance | Maker DAO

Transcript

foreign foreign

foreign welcome welcome thank you for being here we are going to start with our scope from today with our comedy meeting this is actually our 15th ABC Soup company meeting I see a lot of people also I have uh joining us today um hello there we have our 80s here we have our ABCs members here we have an Builder blue Pingo salt your name everyone we have

um NYX that it's the most recent ecosystem team member uh thank you so much for being here so we're going to start so I'm going to go with uh reminders we always post all the you know the documents on on here on the chat also where we're going we do a recap of every topic that we have mentioned during the call you're gonna find that uh with all the links in the chat and the Discord also in the Forum again I mentioned our delegates we have

Park we have Clocky blue penguin Soldier Jack so if you are uh in in care holder you can delegate to one of them okay so these are the topics that we will see today um we post our participation requirements for 80s that follow Sovereign Finance ABC it has a lot of comments so we're going to start with that uh please if you have any questions about these if this is the time this is the moment uh to so we can answer them and also the comments that are already on the post there has been answering very recently just a few I would say a

minute ago so we're going to go into that as well um we are going to mention about the stability scope parameter changes of course since this is the scope um a very recent post from Rima from about a few hours that we also find it relevant so we are going to mention in here and discuss the most um relevant information that he shared and we have a guest that is Sebastian their books from Steakhouse Financial so he has a lot of knowledge about real world assets so this is the moment to ask uh tough a I was about to say like hold questions like you know that um with all

the this context that has been happening lately um so this is the moment to ask all questions in order for us to understand more about real assets and how can we can improve with of course the context of a maker and we have added just because of these new posts we have added in topics so uh we'll see if we get to also talk about this marble engine um changes um and Analysis from ear Labs that they posted it's not that recent uh that recently it's from almost a month ago and that it's important to mention uh and we will discuss it if we have the

the time we wouldn't we don't want this to be like a two-hour meeting okay um let's see who we have here Park is here hello Park okay they they post um if any of the ABC members please help me with posting also the link in the chat so if any ads that haven't already um haven't already read they can also do it so uh we have put it some questions that I think there were the first questions

from the from the post uh but there have been more and so it's secretton's comments and um oh the other one is not from Sacramento is for from Jack which is the first the first three is from serotonin says what exactly does this mean point out relevant topics discussed in the last five weeks in the Forum or Discord that have an impact on the scope of the week okay so we thought we were pretty clear and we apologize if we weren't uh so what we want is that bring us for each scope on information that is going to can be added it could be like

um in order to improve the scope in order for us to have proposals that actually impact during the scope so uh that's why we put it like a relevant information relevant topic um it says what amount do you see in the game TK it might be peanuts yeah okay so uh we have not we're gonna go up there and I also to to share uh the link in there so let me just I'm going to share it okay this is the link

yes us uh pee we mentioned that's what we wanted we're actually pretty glad that uh we have a lot of feedback from uh from our 80s and from people in general this stuff because that's important in order for us to have a better word in and and so on um so I am sharing with you guys the link from the post and there has been more comments not just from Jack and uh cycloton um please let us know if all of you have written uh have uh have read the

this and we have already also answered um to all of you and I'm going to share my screen just give me a moment there we go okay um so Doug says about uh something um about the IP address oh minority do we have already received communication from an anonymous actor that they monitor or IP address when posting here so at least one administrator on the Forum is attempting to influence or during delegates also in

here it's Patrick's answer which is basically that uh they haven't found anything about it and they have monitoring this so that's why we put uh since the foreign is the number one place to communicate neutrally between Homemaker system actors we believe that this should be a requirement so yes for us it's really important that our 80s uh interact in this core interact also here in the Forum especially when it's about relevant topics that we also mentioned very in detail in the post um also taking note of what Patrick and

wizard said we will keep these requirements and yes I'm trying to find the comments in here but basically and they say that they ha okay so this is both research performance fully compatible with the Tor Browser this browser can prepare potential risks such as inadvertently clicking on a the subtitled link that redirects you to an external website capable of capturing your IP address so if there were more ads that had the same concern as Jack well with Patrick's answer and both wizard I think you guys are safe and you can comment um or ask relevant questions in in the in the Forum

I see clock is coming as well here just let me go one by one um according to the atlas ads must maintain a high level of operational security as follow-based practices for privacy security and physical resilience in this regard we recommend our ideas to take the best practices make sure that they considered to keep their operational security we want to point out that we don't want any of the of you to kind of like oh have a involved your privacy or Street in your privacy that's not what we want and we are glad that actually we receive answers from Patrick and wizard otherwise we probably would have changed

that but now in now that there are not no problem into this particular comment we are uh we continue with this state okay so um about what Sacramento's comments were actually we believe that it was not very clear what we were saying uh what we want is Ides to provide us with a recap of what has been discussed in the Forum that has a direct impact and we want to point out that it's not that we want our 80s to commend every single post yes I agree this is this is good we want relevant comments relevant questions uh

information that can impact and we are putting examples in here on the topics of the Forum or uh post bioscope Eddies ecosystem actor onboarding boarding uh parameters modification and uh and more topics that are relevant uh to make makers improvements Scopes improvements okay next question for those cyclotone it says guatemal do you consider skin in the game this is the first question and we had our internal discussion about Demand by now we believe that demanding the same skin in the game is the way we are open to modifying this point if it ends up

being negative or ineffective actually everything that we have posted in the Forum it's doesn't mean that it's going to be like this forever um we're going to improve the warding we're going to also want to know your insights we're pretty glad that you are commenting what do you think about this and if we should improve a specific um paragraph of the of the text um and and now this is a recording maybe we can let's move on and then we can discuss these topics in on the Forum because we have this the team byton I think that we can continue in the forest

okay no problem let's move on then I wasn't reading um the chat I see now previous comments okay and just to before we before we start we move to the next part um all the questions please put it on the Forum and we're going to answer answer them thank you okay so this is a stability scope and that's why we are putting here the stability scope parameter changes I am going to share also the link of this this is

um ramas post from August 7th it's not that uh recent and uh what are we mentioning here because it talks about the replacement of the DCR in the stability fee and uh the the change of the upper limit from eight percent to five percent and in here we are actually we're going to add about the most recent uh post from Rima just from a few hours ago which is this one okay

okay so um in the post Ramos actually made a a relevant um well shared relevant information and made it very clear that this change from the implementation of the adsr and the new edsr Parliament decrease from eight percent to five percent had a positive impact on die demand um something that they actually he pointed out is that this analysis it was done manually so it won't be like this amount that you see is here it won't be like 100 accurate just to point it out because it was done manually uh but I

think this is very helpful and useful because we can see how is it going and they mentioned that DSR user account deposited more than 100 die it increased for 1625 or 68.7 percent in the post it's also mentioned that there were protocol Integrations I think the more relevant and it would be the Ave a three is Market implementing as di as collateral asset uh nevertheless it has been more protocols integration such as the ones that are mentioned in here Pendle Wormhole Bridge IP or R similarity force and more um something else that they mentioned

it's about the preparation for the upcoming subdial token forming a plan as part of the end game and uh make good use of the inflow of PSM Reserve which should be allocated towards real yield opportunities ASAP in order to further decrease the cash output impact of the DSR utilization increase we have posted also here this is also from Remos analysis that I just shared on the chat um this is the DSR deposit distribution categories so we have the maker core this part lending Market PSM amm holder and user that had died before the assert increase and it's more in detail and

they mentioned also kind of like a detailed amount um on the post um so let's see if there is any comment about this post on the chat how many people are typing as well oh this is this is kianga's comment about the requirements the skin in the game requirements seems harsh and overstepping you are effectively reducing the income of your ideas relatively yes uh something else that I forgot to to add it's that it there were a lot of comments in the wording um we also asked ads or any ecosystem Avatar to help us with the wording to

improve it um and well let me finish reading this and we really do not know the financial situation or business Capital planning for Anon 80s it's true uh it's not for business as ABCs in my opinion skin in the game would also could mean selling all impure monthly to manage Fiat expenses or a million other reasons we should not judge but rather judge them on a performance over time we do agree on on that thank you so much kianga for your comment um we haven't I mean we can edit also the the amount of mqr um and again the warning we are we receive

feedback but we also would like also um awarding of the specific paragraph We have no problem on um making modification with the word in the due and most of our delegates feel more comfortable now we have our let me see if I guess it's already in here I'm here hi everyone oh you are there you are so we have here Sebastian door books uh from state house from a financial

and uh this is a specific foreign strategic Finance core unit and he's here to talk to us about the real world asset in general and uh more specific um info Alpha that also is going to be very valuable for us we're going to start this so before anything please can you introduce yourself and give us um um a knowledge about what you the words you have been doing yeah sure I can give some some background so I started at Mikado in June July well it's difficult doing D5 summer in 2020 and I uh it was wrong for a reason that kind of uh put me on this

topic that was called real level assets and so I watched a lot on onboarding real water set I created the first core unit that was on valid which was a without Finance so always dealing with real order set and financial reporting for me for make it out and then we created a strategic Finance coordinate which is much and we are still working more or less many in the financial reporting I mainly focused since static Finance on the asset liability management part but as you know there were some issues with the previous keyword Finance team that was super was supposed to manage the

real water sets so we took over some monitoring of the reward and trying to do our best to just fit the gap and I think yeah that's that's more oh yeah and I also about advisor of the vision cluster which is related somewhat to Christy great well thank you so much for being here a couple of questions also we invite when courage are 80s you know because it's ecosystem actors that are here to um provide us bring us all the questions that you may need in order about um

real war assets or similar topics we have point a mentioned here in the slide some of that um but of course according to the the dialogue we're also probably there's going to come up more more topics and more questions um so um there has been a lot of um let's say situations according to the the real world as in transparency um and how can we improve this um or what should be done in order to improve transparency and Reporting from arrangers and real world assets

uh yeah sure that's a good question I would say that transparency is I wouldn't say it's a trade-off but it really depends on community and governance up to which point you want to go and that's completely up to governance if Government announced wants to have access to all bank accounts and everything well governments can decide it and there is nothing that prevents kubernance for detecting that it could be consequences some people may not want to work with make a low on those terms because there is always a negotiation because we are dealing with the real people and through that sometimes it's difficult for real people to work with it all because it's kind of more Anon or

kind of uh a P2P setup where it's kind of sometimes difficult and it's not based on what other 25 people let's call it call it that way uh used to work with whereas always some opacity and some some behaviors that are different in traffic than in D5 so but to be clear I mean the dial can decide whatever they want in terms of transparency we wanted to start with this because of course of what has been happening this

this month with all the the ecosystem um and I don't know if you could give us your uh expertise in real world as it matters so uh if you could tell us about um what lessons can be drawn from similar cases in the past and What observations have you made um regarding the regulatory the technical and administrative aspects um in the evolution of this you should up today are you mean the real world assets how you are speaking about some issues in a

particular yes about the issues uh well so I wouldn't say there are more issues compared to the complexity of the of the matter in a really what I said that anywhere else it's just that for some reason s they are more public and more discussed and that's why I was always dramas uh that I'm quite shoes for the last three years I mean it was plenty plenty of Dramas uh usually for not much but you are right that's it is really a journey yeah I cannot always say that

and if you look my first report was always what what we do today doesn't really matter because the end game is the Target if you want is to be able to work with the big institutions or to deploy a scale with a super strong structures that are complex uh to put everything on chain where you will have way more transparency and so on we don't know where we are going but it was super important let's say three years ago but it started even before I think Mikado is starting working on a Clearwater set for the last five years to just move if you don't move you don't get anywhere uh so there was some iterative process and if you look it's easy to compare for instance to say well

console fight is a default or it's at the end of the world it's two million some people is behaved which there is no evidence of that currently except at the end of it for sure but what is quite interesting to see that now we just returned from guys did of 10 million uh 10 million is more than whatever we can lose on Console Freight and that's a significant Advantage for Mecca Dao those days it would not be possible to give the edsr that you discussed just aside before if there wasn't the work being done on herbal assets this was last let's say five years so it's really a process an improvement

process I wouldn't say I'm happy with the current situation of here what I said in the sunset it's only the beginning there is still a lot of work so yes it's a process we need to move forward and that's why I'm I think it's more important to know what exactly do you want to achieve instead of discussing some particular case or some particular default which are always something that might happen I mean if you deal with the real world there will be fraud I was frauded coordinates as well there is always a drama everywhere but what matters is yeah how do you want make it out to achieve his targets and doesn't I don't have a view on the target but

should it is it is indeed as you mentioned it's it's a journey um you mentioned that you're not con comfortable with a with all of this happening and so what are you and your team doing in order to improve all these defaults or these issues that has been happening so foreign to a baroque that is now in default and there was some complex complications there

uh it's not the role of any monitoring or make it all as a world to start micromanaging scenes it's just monitoring and mentoring is not a lot of work and if you want to know default and know complexity you can just say well let's not do a private queries or let's not do weird what I said in the first place which is you can debate if it's a good idea or not but really I wouldn't say it's a problem that I say that you need to solve you should first attack the strategy and Define the strategy instead of solving a particular issue because it

should depend on the strategy and also the foreign I mean it's way different but I mean if there is a I don't know if not to subscribe crazies but I really stay big is that issue in the U.S what could happen I don't know but probably nothing very good then again that's the risk of taking uh of targeting a higher yield than the recreate well thank you thank you so much for for

your answer um there are actually like some people are timing about about this um something that you mentioned and brings me to uh another question and something that it's it's in my mind it's like let's not do real words it's in the first place um something that you mentioned um brought to my mind this following question that it's um we would like to also hear about your plans regarding the elimination of assets related to inherited legal problems and uh about the transition of real world assets how do you envision the role they will play in the Final

Phase of the protocol like uh credits and everything that we close we cannot liquidate because it doesn't exist in the real world so it will take time uh franzan sees the community decide to uh I don't know what was the decision actually uh to shut down the HVB Vault that will take years because there are some underlying loans that are contractually that will stay until the end and so that will take years to unwind naturally I mean it's not like you are going to the you sign a contract with a borrower there is a term in the contract and there is nothing much you

can you can actually do to to change it you can try to negotiate and so on but contractuality you you need to follow the contract and when there is a default there will be a trials there will be Court action plenty of stuff it will take years maybe not shares but very long time so then I mean you need to just wait and see what happens fair enough yes let's wait and see what happens we have comments on the chat let me read this is from a true name yeah in your opinion what is the timing when zip dials can take responsibility for the

Legacy legal recourse assets we are voting to cap and or reduce exposures currently where possible through the polls largely due to our views that right now governance and organizational structured now cannot handle the complexity the complexity I would I would answer that why do you think that subdials want to deal with Legacy legal recourse assets my understanding that subdos are autonomous and you want to impose them to take over decisions that were made by maker car in the past some

I mean exactly yeah sounds a bit strange yes well true name still type in but yes what you were saying it's it's like that it's subdials are now going to have this role that a each of them are going to manage their own um styles and maker core is going to be and be on charge of operational make a yeah operational procedures and I see a question about us sorry did

you ask a question Chris let's let me read the true names because he's adding about the question that he asked I don't know if you could understand it yes it says he will yeah we refer also more broadly to a mandate to provide advice on courses of action and to be proactive on taking responsibility for making certain judgment calls thank you mentioned we share with you Paul a link to Steakhouse on both to this effect on the Discord oh yes so that's awesome yeah yeah that's more good

I'm sorry someone was speaking maybe true name [Music] okay so so I can go so now the true name is uh asking for example Steakhouse is not a facilitator or an AC AC which is a night visor I guess of the cool should they not be would they want this whole uh I don't know we are not that for sure uh we are I think yeah there's a car in it sometimes so it's to be complex I mean it's in between due to the endgame transition obviously uh but what I made a comment is that if you

are looking for someone to tell you what to do every time uh I I'm not sure that's a decentralized way of doing things and I think the end game was especially trying to decentralize the decision making with many a VC so we don't end up with again one coordinates or one entity doesn't Matter's name making the shots so uh I don't have a solution here it's more an organizational decision that's uh should do so we don't have them we did we did have them on it at some point I think we lost it and we are money to increase water sets and trying to do our best uh yeah in the

in the arena if you want but that's mainly because well someone has to do it I mean not doing anything is not the solution I was thinking notes about what you were saying and yes uh the all these endgame plannings in order to decentralize the decision making in the long term um let me see if there is a correct question in here is wanting more advice so really the best I think I I made it on other ABC as well the best piece of advice is just to

stop thinking about details because we can manage the details and details manage themselves what is more confusing is the direction and I think that's quite easy to know because for instance I was uh those liquid and scoping where we have bought all Legacy assets that was already done and the next month it was voted on to increase new silver which to me seems conflicting but we don't have a view so we executed Now new server is raised I think it's a great asset should it be done at pickled up that was designed by the mecca community um so it's really if you focus on the high level stuff

about what you are planning to do what you want to do you don't have to go into specific on the contract and so on you don't have to read 100 pages of legal stuff usually because that could come in the second stage but first you need to just decide what do you want do you want to take some risk do you what do you feel is the best place for Mecca Dao to grow and prosper regarding with water set or anything else um I wouldn't be a kind of best advice is don't to don't worry be happy but because I'm French so I'm never happy but and I'm always worried but yes I

mean just try to think strategically complex and you might make the mistakes to go into the complexity you need to see the big picture so we are investing for instance close to 2 billion in tibials that's what matters those are the kind of stuff you should look specifically concentrate is a problem isn't if there is an issue there but at the end of the day it's two million I mean the how many times make a dollar lost 2 million on the hondam stuff if you look at the oldest history it happened many times and sometimes there is drama sometimes not but what matters is where is make a

row avoiding to have a big loss are earning a lot in the next three years is it with Justin timberls but then what happens if tb's rate is going to zero is that a problem or not should make it also have a mobile compassion on power entrepreneurs around the world to help people in I don't know third world countries to buy home or prosper or is just to finance the U.S government build up the kind of questions that are not complex they are somewhat complex but they are don't need you to

understand all the details of the original curve and so on social details you can trust if you start for instance do you want to take no risk and just Finance the U.S government or do you want to make people around the world prosper and then lend to more risky rendezvous that's a simple question you don't really need to to have too much information it's just what it is that maker Dao means on this front and you can have a boss both sides of the of the table I can

debate both sides I write down the the question that you view you mentioned specially that if the TBL rates go into series that a problem or not and more like that you have more questions about it and since you were asking or you were mentioning about what we can do what's in our hands instead of just worrying for things that are not in our hands so um what improvements do you think the the scope do you think us as ABCs do you think delegates um should have in order to well mostly

is copes should have in order to guarantee uh transparency Improvement first you need to decide if you are happy with the transparency or not and if you are not happy you just need to vote that you want more transparency on something and then it will be either possible or not but there will always be a solution for instance let's say um SM Mikado is working with the banks that don't want to disclose its fees which is actually the case either you say well now we don't work with anyone

that don't disclose their fees in details and then well we need to find someone else to work with and that could delay all the world work for I don't know a few months years who knows oh you stay well okay that's not a problem so we agree that we will not have access to this specific information so where is the threshold is difficult because from the outside it's difficult to know what are the pro and cons and what are the so complexities but I think going specifically on what are the issues and what you want is usually we can find solution or we can just say what we don't have a solution but uh yeah being specific on what you

want and again it's better to start from the top than from a specific case been specific on what you want thank you um we have put it also one of the topics that um we would like to discuss with you it's Public Credit versus uh private credit for make it out and how would you like us to see a talk about this topic maybe advantages and disadvantages um something relevant that you have in order to discuss about this yeah sure uh so that's related to what I was saying about what's what it is that

uh maker Dao stands for so private credits uh if you look in the world I mean investment grade companies the big companies of the world can can get access to the step Market easily the issue Bond they don't have a higher rate so it's quite easy governments like the US given month can issue as much as he wants and currently could always be influencing the U.S government to spend on whatever the U.S government is spending so that's one way of thinking things but that's exactly what fratify is already doing and it might be the case that people say wait a minute we created D5 to be different not just to finance the people

that already have money but to finance people they don't have money and we want to create wealth or make give me better Prospect for to to those people and then in that case how are you achieving that it's mainly private grid if you have a small company that wants to borrow well you go to the bank and the bank will say well usually it's Regional Bank so now they are kind of dead in the US but if you are a small company in later or in Africa getting access to credit is super difficult uh and obviously that's not the GP Morgan gunman sites that will fix it so the question is do we want to try to fix it or not

and obviously it's more complex it's more risky it should be more lucrative because it's more risky and more complex and it's actually maybe using Finance to unpower the whole world and not just the wealthy that already have access to finance and so there's more more of a mobile question than than very complex legal question about what are the risk and so on if you are fine just financing to you as Government well that's not complex you already have a class date and and on Chrome it up that are working

well and you can see well let's not do private credits it's complicated let's not Finance the people that don't have access to finance right now and that's just fine the U.S government that could Finance itself already with the fair so very depends on what oh just big corporations but if you want to finance a small Enterprise is around the globe well that's a bit more complex and either you want to do one or the other and then the second layer is if you finance the U.S government currently the rates are a bit of over five percent for the short term then what happens if the rate is going to zero make a dollar will be just like

two years ago without much revenue and a lot of expenses which is not sustainable and usually when you go on private credit or you take some risk it could be at least corporate bond risk or duration risk those kind of risk obviously risk should be managed they are a bit more complex to deal with especially if it's a private credit uh let's say I yield but then if rates are going to zero there is still a spread so is that something you have to do or not and I would even go further than that I mean if you remember back in 2020 most people saw that getting usdc on the

balance sheet or hirwala set was contrary to the it was of D5 to start with that should only be finance that should only be contained in on the blockchain so there are plenty of print cones I think having a healthy description should be good and especially having One Direction and be sure that we following this direction is speaking about critics so yeah we are working with the critics at the stickers level to review so they are they are completely private Credit in later so it's a complex jurisdiction uh there are risk obviously uh I I believe I I'm not participating in the risk assessment but

I believe there are high quality for this area but services are one order of magnitude of two other magnitude risk here then the U.S government which is not risky and yeah so we put a lot of time on the review um there were two onboard them uh what I always did in when an analyst is making a risk assessment he doesn't finish until these confident that it's not to but something very obviously bad to do um not always but most of the time when we publish a risk assessment it's uh

that we consider it's it's a decision that can be made like it's not a curious cam but yeah it will take some time because we are analyzing a lot and let's see he's taking time and resources and so there is no date because it depends on when just to give you an example of the last question we published was in the backed Finance the bib01 token and that took six months because we had to deal with plenty of lawyers look underneath having plenty of questions and maybe we spend plenty of time for that much because analysis could have been

done in one week but it is it is sometimes we just want to be sure when we say something yeah I was about to say that there are asking questions and yeah please go ahead to read and answer Jack's question so Jack is asking is there maybe a primer for future Rangers I mean what future challenges really need is to know what the community wants uh what I uh what so foreign [Music] was

that the committee will say no so it will be a waste of time but the community said yes so it was just a guess based on community because what's so for the round just the main issue is that they don't know and we don't deserve the community will looks like at the end or when the implementation will be done so because all every time your risk assessment or an implementation is costing a lot of money a lot of time for those around us so it's a rest your key that at the end it might depend on the mood of the community not so much on on what the ranger is really that's I think the main fear that the

the quality they attire is asking is that part of that timeline and checklist so they know what to expect good question I mean some timeline we have a plenty of items so and I wouldn't say that being a more people would help a lot it would help but it would cost more as well for me hello so I don't I'm not sure it's wise so and and yes I mean for instance to

give you a clear example to make your local communities to review backed last year so we did it we published it and I just had a back task give me a little earlier today what next and I don't know because only Mikado can make those kind of decisions so we can try to give in some solutions we don't decide for make it up I don't know if it's the road of ABCs that I don't know but there is a lack of clarity on what are the next steps or what community wants I mean if you want to invest in critics can be done

super quickly as well or if you want shorter risk assessment could be done I mean it's really the decision of the community but Clarity from the community would be great I think that's the best thing that could happen if there is anyone that has questions please do it now we're about to finish this part [Music] um have one more question you have mentioned also the situation in 2020s and with all the defined we want to

brought up also stratify so um if you could tell us your vision uh for the future of the interaction between these two between D5 and trotify and what will be the connection or interaction between these two and how this will evolve yeah sure that's a very good question my view and again that's more is my personal view my qualified perspective of what could happen is that we will move more robots tokenize onto Jesus well like parked on though I think Maple was past as well wisdom 3 and 14

Templeton well there is a lot of players some are big institutions some startups but having tokens and more on-chain smart contract I think it's a way and from that it will be possible to create a whole new Financial ecosystem that will be way more efficient I was reading a lot about uh lately about the repo Market in trade 5 which is if you really think about it quite inefficient I mean I think what we have with a component Navi even with a limitation is way better what we like is real assets I mean we have cryptocurrencies which is which are not

I mean the biggest the blue ships are are good but we have a lot of uh small caps tokens that are super risky and to buy liquid so we are kind of if you look at the CRV situation that we had recently our Avi and other learning platform had some issues due to this eLiquid token just like what 25 had with abs and Clos in 2008. a liquid token that shouldn't be used as craterial for a very short-term loan so I think that having more like corporate bones

could be very great to be used on curve and so on and for making love that means that if we have those kind of assets on a balance sheet we can have use compound and RV to generate liquidity so that was a real a real a new layer of complexity of parting for the financial the traditional Financial system on D5 rails that is still not even started I mean we are already super super early in my view well thank you so much Sebastian I don't know if you want I would like to add

something else before we we finish this part is there anything else that you haven't met before that you would like to invite us uh to know more about these specific details or anything else do you have a couple of minutes to to to share with us yeah sure so really uh the best piece of advice I can give you is to have a healthy discussion on the Forum or whatever the good places and start 30 on the top uh level of what you really want to achieve and where you want to go as Mecca Dao community and from there the details to technical details could be

solved by by competent people I mean stackers or other people to be able to community as well and we can find the solutions but if you want to go in One Direction the best solution is to make this direction super here for to everyone and keep the keeps trajectory perfect ending once again thank you so much for your time and uh well that will be all for our special guest Sebastian derivax ah I'm sorry for the pronunciation uh yeah there are a lot of people there um on the comments because it's always so great to be able to hear from the

chefs in this cat house thank you so much um well uh this is something that happened similar to the previous call um we're going to let it until here we have a topic to discuss which is this Marvel ended parameters update from via Labs um which is actually not bad since we're going to discuss this this in the next stability scope and actually we are expecting to to see any updates that will be more recently since I mentioned the one that it's and I'm going to I'm going to share it this is here

but of course this is not up to date this is from a month ago we are going to discuss is an accessibility scope uh I recommend everyone to take it a look because it mentions about the four parameters that involve all these which is the whole parameter the block times the one parameter which is the mqr price changes uh the bomb parameter which is a lot size and the gas price um so that would be all for today um and again this we will see we will talk about this next stability scope um once again thank you so much for the

feedback about the the post for the requirements uh it's really needed for us and uh please go to the Post of the Forum if you have questions about it and a Improvement of the wording you can let us also hear I elaborate a document and share it with us because we that's what we want we want feedbacks from our 80s and all ecosystem actors um next week we're going to talk about this the stability accessibility scope which is um it will be the week nine and uh as always please if you are a maker holder you can delegate it to one for 80s and

it'll become an ID observerting Finance ABC if you appreciate our work ensure our values um that will be all thank you so much for all the feedback the comment the participation we want more of that and this is all for today I'm going to finish with this thank you for your time and attention as always bye bye everyone [Music] [Music]