The Chopping Block: How to Manage MakerDAO, With Hasu and Rune - Ep. 383

Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Tom Schmidt, and Robert Leshner chop it up about the latest news in the digital asset industry. In this episode, Hasu, the gourmand of governance and Rune Christensen, chief mischief maker at MKR, discuss how to manage a DAO, their respective visions for MakerDAO, and much more. 
 
Show topics:
 

What MakerDAO is, how DAI works and whether it is the “central bank” of DeFi

How the visions for MakerDAO of Hasu and Rune differ

Whether Maker should only hold highly liquid collateral assets

Hasu’s mental model of DAI as eurodollars

The role of real-world assets in backing DAI

What the purpose of a DAO is and how it differs from a legal entity

Whether people behave in their purest form within a DAO

How DAI can create positive externalities and make a better world

How crypto holders are not only in it for the money but also for the philosophy 

What the “decentralized stablecoin trilemma” is

Whether there’s a need for dollar-denominated collateral for DAI to work

What “clean money” is according to Rune

Why Rune thinks having a single council is not viable due to the political risks and whether the solution is to have multiple councils

How to keep the principal-agent problem in check, according to Hasu

Why Hasu believes council members wouldn’t pursue their own interests and go against the benefit of MKR token holders

Whether a council would be corruptible and the dangers that it entails

What kind of interests should be represented in the council

Whether Maker can create more synthetic assets

The iron law bureaucracy and how it relates to governance

How to design the DAO to be steered in alignment with the token holders

Whether ossification is a feature to be pursued, and where innovation happens

How complexity is very expensive for an organization

Hosts

Haseeb Qureshi, managing partner at Dragonfly Capital

https://twitter.com/hosseeb

Tom Schmidt, general partner at Dragonfly Capital

https://twitter.com/tomhschmidt

Robert Leshner, founder of Compound 

https://twitter.com/rleshner 

 
Hasu
Twitter: https://twitter.com/hasufl

 
Rune Christensen
Twitter: https://twitter.com/RuneKek

Episode Links
 
MakerDAO

Hasu’s governance proposal: https://vote.makerdao.com/address/0xafaff1a605c373b43727136c995d21a7fcd08989#delegate-credentials

Rune’s proposal - the endgame: https://forum.makerdao.com/t/the-endgame-plan-parts-1-2/15456

Proposal to add a lending oversight core unit: https://forum.makerdao.com/t/mip39c2-sp33-adding-lending-oversight-core-unit-love-001/15098

Previous Coverage of Unchained: 

Rune Christensen of MakerDAO Part 1: How to Keep a Crypto-Collateralized Stablecoin Afloat: https://unchainedpodcast.com/rune-christensen-of-makerdao-part-1-how-to-keep-a-crypto-collateralized-stablecoin-afloat/

Rune Christensen of MakerDAO Part 2: How Dai Stayed at $1 While ETH Crashed From $1,400 to $85: https://unchainedpodcast.com/rune-christensen-of-makerdao-part-2-how-dai-stayed-at-1-while-eth-crashed-from-1400-to-85/

The Rise of MakerDAO: A Personal Journey:  https://unchainedpodcast.com/the-rise-of-makerdao-a-personal-journey/

Real World Assets:

Huntingdon Valley Bank (“HVB”) proposal: https://forum.makerdao.com/t/huntingdon-valley-bank-hvb-rwa-collateral-onboarding-risk-assessment/15828

$500 million allocation proposal: https://forum.makerdao.com/t/signal-request-asset-allocation-of-mip65-clydesdale/15922

 
The stablecoin trilemma: https://fluid.ch/stablecoin-trilemma/#:~:text=A%20deeper%20dive%20into%20the,decide%20on%20the%20stablecoin%20supply.
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