Monthly Governance Calls

Governance Call Recap - Feb 15th, 2024


  1. DAI cap recommendations, Base weekly update, & Quarterly Update for Q4 from @Gauntlet
  2. Codebase contributions and delegate platform updates from @elliot at Solidity Labs
  3. New tools on the Warden platform from @WardenFinance
  4. Delegate Insights with @Curly and @coolhorsegirl

Meeting Notes:

  • Kamil from Gauntlet Q4 Quarterly Updates
    • Scheduled Monthly Parameter Recs for Base, Moonbeam, and Moonriver Markets
    • Created Base Guardian Recs
  • Gauntlet Base Weekly Update
    • No parameter changes
    • DAI was the only asset found to have an average supply cap usage of over 75%, landing at 79.8% in the past week.
    • mWETH and mUSDC had $676.56 and $213.74 in liquidations, respectively
  • Gauntlet Cap Recommendations for DAI
    • Current supply cap: 5m; recommended cap: 4.5m; current borrow cap: 4.5m; recommended cap: 3.9m
  • Elliot from Solidity Labs on their contributions and delegate platform
    • Previous work: temporal governance, base deployment
    • Current work: nomad collateral repayment proposal, xWELL, cross-chain governance.
    • Delegate platform: what we are trying to bring to the community
  • Quotes from Delegates
    • “MFAM reallocation for liquidity incentives” brought up a critical discussion on the runway and the Snapshot proposal process. @coolhorsegirl brought up the exhaustion of 50% of the MFAM incentives, saying: ‘Let’s reallocate 20% of the MFAM token supply from Developer Grants and Incentives to be used as liquidity incentives’. There was a bit of debate between different delegates on how this should have been implemented. Read along with the discussion in the above link.
    • @Curly stepped in with a few notes, including that the discussion should have been had on the forums first before going to snapshot for a vote, and the protocol could implement protocol-owned liquidity (POL)
    • @elliot brought up that Protocol-Owned Liquidity (POL) is a hard problem — how can we be sure that the Moonwell DAO goal of facilitating access to decentralized lending remains the north star, while also doing this new thing of ‘how do we manage liquidity?’ He cited OlympusDAO as an example. He also wanted clarification on which part of the voting process was incorrect.

Other Links:

View the Slides here.

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