<h1>monetsupply</h1>
<h3>Key Info</h3>
<p>Delegate Address: <a target="_blank" href="https://etherscan.io/address/0x45127ec92b58c3a89e89f63553073adcaf2f1f5f">0x45127ec92b58c3a89e89f63553073adcaf2f1f5f</a><br>
Forum: @monet-supply<br>
Rocketchat: @monetsupply<br>
External Website: <a target="_blank" href="https://twitter.com/MonetSupply">https://twitter.com/MonetSupply</a>  </p>
<h3>Core Values (Optional)</h3>
<ul>
<li>Expand DAI supply and market share</li>
<li>Build bridges between Maker and other protocol communities</li>
<li>Minimize risk of DAI holder losses</li>
</ul>
<h3>Delegate Statement</h3>
<p>My perspective as a potential MakerDAO delegate is driven by the core values outlined above. I’ll try to break them down here to give insight into my future decision making.</p>
<p>Expanding DAI supply and market share - I firmly believe that Maker can’t be financially sustainable at its current scale. We’ll need a substantially larger DAI supply before we can cover our fixed costs and reach a point of positive unit economics. With this in mind, I’m ok to invest into growing our supply and market share even if this leads to negative cashflow in the short to medium term. I see Maker sort of like Amazon or other platform economy companies in the early 2000s - we should be comfortable investing in growth even if this requires raising capital or selling MKR, because this is what will allow us to become financially self-sustainable in the future. That being said, we need to stay focused on cost control so we can reach this crossover point as soon as possible.</p>
<p>Building bridges between Maker and other communities - Beyond competing on price, Maker also competes with other lending or stablecoin offerings based on relationships and narratives. We should focus on building strong ties with other communities, so they can feel invested in our success and have the confidence to incorporate DAI as a key part of their protocol. This goes beyond token listings, and could include co-sponsored grants, self regulatory organizations, or other shared initiatives to drive the space forward.</p>
<p>Minimize risk of DAI holder losses - In my view this is the most important responsibility of the Maker protocol. We offer the safest stablecoin available today, with diversification of collateral, sound governance, and a credible risk backstop from MKR holders. This gives us a huge benefit where people are willing to hold DAI without any intrinsic subsidy from MakerDAO (such as the DSR, which is currently at a nominal 0.01%). Maintaining this focus on safety is not only the right thing to do for users, but also benefits our economics (greater net interest margin for any given stability fee we charge) and regulatory positioning (a safe and sound system is less concerning to prudential regulators). Decisions that benefit MKR holders at the expense of DAI holders are likely to be self defeating over a long enough timeframe.</p>
<h3>Conflicts of Interest</h3>
<p>I hold financial stakes in a broad range of tokens and crypto assets. Most holdings are in my public ENS account monetsupply.eth. I also hold small amounts of BTC plus assets from Cosmos, Polkadot, and Solana ecosystems. Holdings include Maker protocol competitors such as COMP and AAVE.</p>
<p>I have made investments in certain projects / companies on terms not available to the public. This includes:</p>
<ul>
<li>10 ETH investment into LidoDAO LDO tokens (terms posted publicly <a target="_blank" href="https://research.lido.fi/t/proposal-ldo-treasury-diversification-part-2/506">here</a>)</li>
<li>Investment of less than $10,000 into <a target="_blank" href="https://rabbithole.gg/">Rabbithole</a> (private funding round)</li>
<li>Employee stock package from <a target="_blank" href="https://www.withtally.com/">Tally</a></li>
</ul>
<p>I’m a core contributor to the Risk Core Unit, and receive income from MakerDAO in this capacity. I also receive employment income from Tally. In the future, I may take part time / contracting work with Aave as part of their proposed risk team.</p>
<p>I’m a reviewer on the Compound and Uniswap grant program committees. Uniswap is planning to begin compensating committee members for their time, so I may receive income from Uniswap Grants in the future.</p>
<p>I participate in several governance protocols beyond MakerDAO. Most of my protocol activity can be seen on Tally <a target="_blank" href="https://www.withtally.com/voter/0x8d07d225a769b7af3a923481e1fdf49180e6a265/governance/compound">here</a>. My voting power currently exceeds the proposal thresholds for Uniswap and Compound governance.</p>
<p>I will make best efforts to update this disclosure statement when there are any material changes. Furthermore, I’ll recuse myself from participation in any cases where I feel I’m unable to make an unbiased decision.</p>
<p>I have read and agree to the <a target="_blank" href="https://forum.makerdao.com/t/recognised-delegate-code-of-conduct/9384">Delegate Code of Conduct</a>.</p>
<h3>Waiver of Liability</h3>
<p>By delegating to me, you acknowledge and agree that I participate on a best efforts basis and will not be liable for any form of damages related to my participation in the Maker Protocol or MakerDAO.</p>


monetsupply

<h1>Gauntlet</h1>
<h3>Key Info</h3>
<p>Name: Gauntlet<br>
Delegate Address: <code>0xB0B829a6AaE0F7e59B43391b2C8a1CFD0C801c8C</code><br>
Forum: @inkymaze<br>
Rocketchat: @inkymaze<br>
Website: <a target="_blank" href="https://gauntlet.network/">https://gauntlet.network/</a>  </p>
<h3>Core Values</h3>
<ul>
<li>Quantitative risk management</li>
<li>Maximizing risk adjusted protocol income </li>
<li>Minimizing insolvent debt to some tolerance</li>
</ul>
<h3>Delegate Statement</h3>
<p>Gauntlet's delegate guidelines are informed by our core values and prior experience analyzing the protocol. For example, our <a target="_blank" href="https://maker-report.gauntlet.network/">Auction Assessment</a> report.</p>
<p>Gauntlet is a platform for risk management and parameter optimization for protocols. As such we will seek to provide insights into quantitative decisions with a focus on market risk. Gauntlet aims to elide ourselves from emotional and politically charged votes that do not readily admit quantitative analysis.</p>
<p>Gauntlet will look to support measures to maximize risk adjusted protocol income through parameter changes, onboarding collateral, or other means. </p>
<p>Gauntlet will look to support measures that do not materially impact the risk of insolvent debt for the protocol. </p>
<p>Gauntlet generally support proposals for protocol development which further ecosystem growth, research, security, and novel use-cases.</p>
<p>We (Gauntlet) have read and agree to the <a target="_blank" href="https://forum.makerdao.com/t/recognised-delegate-code-of-conduct/9384">Delegate Code of Conduct</a>.</p>
<h3>Conflicts of Interest</h3>
<ul>
<li>Gauntlet has and will continue to deploy our <a target="_blank" href="https://gauntlet.network/platform/">platform</a> on other protocols and DAOs.</li>
<li>Gauntlet holds token positions from prior work including but not limited to COMP, LQTY, SUSHI, and BAl.</li>
<li>Gauntlet's investors may hold positions in MKR and other protocols</li>
<li>In a Gauntlet capacity, I sit on the Aave Grants DAO and Compound Grants Program as a reviewer. Myself or additional Gauntlet employees may participate in other governance councils or DAOs in the future. </li>
<li>Gauntlet is an active delegate on Compound and Uniswap.</li>
</ul>


gauntlet

<h1>MakerMan</h1>
<h3>Key Info</h3>
<p>Name: MakerMan</p>
<p>Forum: @MakerMan</p>
<p>Rocketchat: @Maker_Man</p>
<p>Email: <a target="_blank" href="mailto:DaiMakerMan@gmail.com">DaiMakerMan@gmail.com</a></p>
<p>Delegate Address: 0x22d5294a23d49294Bf11D9db8bEda36e104ad9b3</p>
<h2>Core Values</h2>
<ul>
<li><strong>Stakeholder Recognition</strong> - Micro to Macrocosm. People are important, too.</li>
<li><strong>Secure, Sustainable and Scaleable Systems.</strong></li>
<li><strong>Importance of Data Analytics</strong> to Goal achievement and problem solving.</li>
</ul>
<h2>Delegate Statement</h2>
<p>My service to Maker involves the following commitments:</p>
<ul>
<li>In good and bad economic times, look out for all the important Maker work-economic stakeholders (MKR holders, vault owners, DAI holder and users, MakerDAO, DeFI in general etc.).</li>
<li>To looking at the system of Maker from both the internal <strong>microcosms</strong> of contracts, people, operations to the greater <strong>macrocosms</strong> of DeFI and the real world in terms of governance, law, and finance.</li>
<li>To creating <strong>Safe, Scalable and Sustainable Systems</strong> as Simply and Efficiently as possible.</li>
<li>To <strong>growing</strong> Maker in a way that is Sustainable for the long term.</li>
<li>To use <strong>Data driven analytics</strong> to drive decision-making to achieve goals.  Look towards the future by analyzing the past and present.</li>
</ul>
<p>I arrived at Maker just as the transition from Single Collateral DAI (SCD/SAI) to MultiCollateral DAI (MCD/DAI) was occuring in November 2019. My goals are to consistently to ask the hard questions, look towards building a sustainable future, and doing this by looking at the system from the perspectives of all players using any and all available data. My ideas tend not to be implemented immediately because they break the mold of the ‘what-are-we-doing-today’ mentality that almost every organization I have been a part of does. Therefore, I look for the things that yield the greatest return in the shortest time for the least cost that is good for all stakeholders and the entire ecosystem. I see Maker as rapidly approaching the scale of many smaller nations financially, and so it is going to have to work at a fully international scale and view to navigate deep and difficult waters as it grows from 10B to 1T in assets under management. Maker desperately needs a diverse set of greater minds to focus efforts, both to be efficient, effective and forward thinking. In the highly competitive crypto/defi environment Maker needs to move faster, do it more efficiently, and above all, be willing to be first. This will mean some possible mis-steps, and some potential losses, but with proper management, Maker can continue to stand as a key leader and mover in the fast-paced blockchain Decentralized Finance space.</p>
<p>My goals:</p>
<ol>
<li><strong>Grow Maker to becoming a $1T entity</strong> with a focus on <em>anti-fragility, decentralization, reducing systemic and user risk, using data/analytics</em> to drive goal achievement.</li>
<li>Continue to work to drive Maker into being one of the most <em>secure, reliable, fully transparent</em> protocols in the space.</li>
<li>Exemplify <em>excellence, integrity, honesty, and openness</em> in the space with action by looking at both the microcosm of the DAO and system of contracts, and Maker integration into the larger DeFI ecosystems as well as how it will integrate into greater Real World of assets, finance, law and politics.</li>
</ol>
<p>My introduction to Maker was started with a new forum thread where I encouraged people to introduce themselves and to learn the Maker basics.</p>
<p><a target="_blank" href="https://forum.makerdao.com/t/is-there-a-thread-here-to-welcome-new-forum-members/766">Welcome New Members</a></p>
<p><a target="_blank" href="https://forum.makerdao.com/t/the-official-welcome-thread/771">The Official Maker Welcome Thread</a></p>
<p>I have a few hundred posts on various topics related to my core values above that can be reviewed here</p>
<p><a target="_blank" href="https://forum.makerdao.com/u/makerman/">MakerMan Maker Forum Posts</a></p>
<p><strong>Key Highlights</strong></p>
<p>After BlackThursday(BT) the effects on vault owners were still not recognized.  I started up a thread for vault holders to vent, which lead to my work spearheading the Black Thursday Report for the community and an initiative regarding compensation for affected vault holders.</p>
<p><a target="_blank" href="https://forum.makerdao.com/t/black-thursday-vault-owners-report-thread">Black Thursday Vault owners report thread</a>
<a target="_blank" href="https://forum.makerdao.com/t/compensating-vault-holders-that-liquidated-at-0-bid">Compensating Vault holders that liquidated at 0-bid</a>
<a target="_blank" href="https://forum.makerdao.com/t/maker-mcd-ethereum-system-liquidation-report-and-black-thursday-compensation-analysis">Maker MCD Ethereum System Liquidation Report and Black Thursday Compensation Analysis</a></p>
<p>While BT compensation failed to compensate affected vault owners, it allowed everyone in the community to speak and laid the issue to rest for the vast majority of the community.  Hence was a success from this perspective.</p>
<p>For various reasons, I burned out on the Maker community for a time and took a break.</p>
<p>Without compensation at levels above my current employ, my ability to work will be limited to what is strictly necessary to steward over the Maker system to fulfill the above commitments. As a delegate, I promise to be respectful even if I vehemently disagree with a view, listen to all parties no matter what their views, to be a fair decision maker, and open with my views. Good data or cogent argument can and will change my mind on any topic. I also pledge near 100% poll participation unless acts of God interviene. I will stand by all executives to secure the system unless I have strong opposition toward them, in which case, I will make my views publicly known.</p>
<p><strong>Potential Conflicts and Alignments of Interest</strong></p>
<ul>
<li>I have a vault and typically borrow from time to time.</li>
<li>I am a MKR owner my ownership percentage is small relative to my total portfolio.</li>
<li>I do hold DAI most times in various contracts.</li>
<li>Not employed by Maker Foundation or MakerDAO and hold no position in the DAO.</li>
</ul>
<p><strong>Income from Maker(DAI)</strong></p>
<ul>
<li>4K for the BT report (5/2020)</li>
<li>6.3K for work on the BT compensation group. (1/2021)</li>
<li>8.4K via SourceCred DAI rewards. (inception to current)</li>
</ul>
<p>Finally will do my best to communicate with the community regarding my views and positions on upcoming polls and executives, make myself available via e-mail and private forum communication. I also agree to the <a target="_blank" href="https://forum.makerdao.com/t/recognised-delegate-code-of-conduct">Maker delegate Code of Conduct</a> as posted 20210816.</p>
<p><strong>Waver of liability</strong></p>
<p>By delegating to MakerMan you acknowledge and agree that MakerMan will not be held liable for any form of damages or losses related to your delegation of your MKR to MakerMan. By delegating your MKR you still assume full responsibility for votes made on your behalf by MakerMan due to your ownership of MKR. It is your responsibility to understand the risks and costs related to delegation of your MKR, and specifically affirm and agree that at all times you have complete control over this by adding or removing your MKR from my delegation contract.</p>


MakerMan

<h1>Feedblack Loops LLC</h1>
<h3>Key Info</h3>
<p>Delegate Address: <a target="_blank" href="https://etherscan.io/address/0x845b36e1e4f41a361dd711bda8ea239bf191fe95">0x845b36e1e4f41a361dd711bda8ea239bf191fe95</a><br>
Forum: <strong>@twblack88</strong><br>
Email (optional): <a target="_blank" href="mailto:timothy.william.black+delegate@gmail.com">timothy.william.black@gmail.com</a></p>
<h2>Values</h2>
<ul>
<li>Cautious optimism</li>
<li>Long term scalability</li>
<li>Adaptability</li>
</ul>
<h3>Why delegate to me?</h3>
<p>In my humble opinion, being a delegate is simply about responsibility and leveraging aligned incentives.</p>
<h3>Who am I?</h3>
<p>I’ve <a target="_blank" href="https://www.linkedin.com/in/timwblack/">been around the block in crypto</a> at both centralized and decentralized companies/communities.</p>
<p>I <a target="_blank" href="https://github.com/makerdao/community/issues?q=is%3Aissue+is%3Aopen+is%3Aclosed+author%3Atwblack88">did some stuff</a> and <a target="_blank" href="https://github.com/twblack88">such</a> for community development at the Foundation.</p>
<h3>Delegation as Responsibility</h3>
<p>Applying as a delegate is a forcing function for me: become a better member of the community. In addition, delegation feeds into the two projects I’m still working on, the revised and relaunched <a target="_blank" href="https://forum.makerdao.com/t/badges-are-live-in-the-maker-forum/4503">Maker badges</a> and <a target="_blank" href="https://forum.makerdao.com/tag/maker-relay">Maker Relay</a>. We have plans to scale Maker Relay into something far more robust eventually. What form it takes is still up for exploring and questions. The Relay makes me a more informed voter, which is great. It’s also an exciting thing to provide, working together for our numerous stakeholders. Completely revised Badges, of course, need no introduction but needless to say, they will be exciting.</p>
<h3>Values</h3>
<p>Cautious optimism -</p>
<p>I've been reading about mindsets a lot recently and operate from this position: “pessimism is easy, whereas optimism is hard.” MakerDAO has already exercised extraordinary caution and restraint in a historical frothy space. I’d vote to stay aligned with the mindset that brought us innovations like liquidations 2.0. Steady testing, reliable math, and thoughtful intention. When it works, then celebrate the process that got us there but still, always aware that there are looming threats to the protocol we need to be conscious of.</p>
<p>Long term scalability</p>
<p>The only thing that matters is that DAI is bulletproof for the long term. I see USDC as a current hairy problem that we'll find an elegant solution to. Then there will be another problem for us to handle. I think with each of these challenges we grow stronger as a community. Stealing a metaphor from Matt Rabinowitz here: I intend to vote for rates parameters and technical decisions that enable <em>walking first and then running</em>. Then, I dunno, like speedboating or something.</p>
<p>Adaptability</p>
<p>Conversely, if you blend my optimism and startup experience into a bit of a paradox, I do think there are nimble opportunities that pop up from time to time that are worth pursuing. I think staying adaptable to <em>layups</em> is key for the team.</p>
<h4>Aligned incentives > conflict of interest</h4>
<p>Interestingly, I don’t have any conflicts of interest; I actually have aligned incentives instead. :smile:</p>
<p>At my <a target="_blank" href="https://twitter.com/iamTWB_/status/1404576140585361413?s=20">day job at Rabbit hole</a> we're building an on-chain resume, and part of that is learning and trying to scale the delegates' experience on-chain. Dogfooding this opportunity and attempting templatization for the rest of the DeFi community is quite literally part of my role. This tends to be how it goes anyways; MakerDAO does a thing in an extremely robust way, the rest of DeFi borrows heavily. Let's go! :rocket:</p>
<p>I read and agree to follow the <a target="_blank" href="https://forum.makerdao.com/t/recognised-delegate-code-of-conduct/9384">Delegate Code of Conduct. </a></p>


Feedblack Loops LLC

<h1>ACREinvest</h1>
<h2>Key Info</h2>
<p>Delegate Address: 0x4d3aC33AB1dd7B0F352b8E590Fe8b62c4C39eAd5<br>
Forum: @ACREimpact<br>
External Website: <a target="_blank" href="https://www.acreinvest.xyz">https://www.acreinvest.xyz</a><br>
Meet Your Delegate Video: Expected December 8</p>
<h3>Core Values</h3>
<ul>
<li>Creativity</li>
<li>Common Sense</li>
<li>Compliance</li>
</ul>
<h2>Delegate Statement</h2>
<p>I'm the Founder of Acre of America, an impact investment management &#x26; advisory firm working at the intersection of new technologies &#x26; rural problems from headquarters in Hudson, New York, USA. </p>
<p><strong>ACREinvest</strong> is our new blockchain venture focused on creating compelling Web3 infrastructure, virtual network services and social incentives for DAOs and other peer-to-peer permissionless stakeholders. We recently launched <a target="_blank" href="https://www.acredaos.com/">ACRE DAOs</a>, a Web3 portal for a decentralized impact investment club and its related community ERC-20 token: <a target="_blank" href="https://etherscan.io/token/0x77dDA3913e57F1879eF2FFb4cC339E670deEe67c">ACRE Impact</a>.</p>
<p>Our Mission at ACREinvest is to regenerate the way capital markets work &#x26; for whom.</p>
<p>I'm excited to apply two decades of prior legal experience in derivatives and commodities markets to the world of DeFi, and MakerDAO specifically. New products and regulatory policy in markets have long been a hallmark of my work and professional fascination. I've been down the crypto rabbit hole full-time since 2017 and have been an avid follower-fan of MakerDAO since that time. </p>
<p>Until now I have not had the capacity to dig-in actively on governance, so I'm thrilled to have a wonderful team in place at Acre of America to provide me with this opportunity to nerd out with you all. </p>
<p>Further, I am keen to inform the wider world about this important work and experimental process by  publishing online content for a general finance savvy audience that is DeFi and crypto curious.</p>
<p>I began my legal career as a Corporate Associate in the derivatives practice group at Cravath, Swaine &#x26; Moore LLP in New York City after graduating from Spelman College and the Yale Law School. Clients included the International Swaps and Derivatives Association (“ISDA”) and as ISDA’s U.S. Outside Counsel I coordinated the work of several sell-side working groups that published documentation and resolved legal, commercial, regulatory and operational issues facing derivatives markets, including for the then-emerging credit derivatives market and launch of the Euro. </p>
<p>In later roles I gained extensive deal and transactional experience supporting the fixed-income derivatives, currencies/FX, derivatives prime brokerage and energy trading businesses at Goldman Sachs; derivatives and physical commodities trading at Lehman Brothers; and global commodities merchant trading businesses at Castleton Commodities International. </p>
<h3>Conflicts of Interest</h3>
<p>Acre of America does not have any significant conflicts of interest at this time. I pledge to keep the community updated on any developments with our products and services that could present a conflict of interest, and will also inform of personal conflicts that would be appropriate to disclose as a result of any legal client representation or tradfi-style client advisory/asset management obligations.</p>
<p>I have read and agree to abide by the <a target="_blank" href="https://forum.makerdao.com/t/recognised-delegate-code-of-conduct/9384">Delegate Code of Conduct. </a></p>
<h4>LEGAL DISCLAIMER</h4>
<p>Kianga Daverington's role as a delegate is NOT in her professional capacity as attorney. None of Kianga's comments or communications is legal advice and should not be relied upon as such. Kianga's contributions to this community are in a commercial capacity on behalf of ACREinvest, notwithstanding that her perspective is strongly influenced by legal knowledge. You are not a legal client of Kianga Daverington or her law office, Daverington PLLC, by delegating MKR to ACREinvest.</p>
<p>ACREinvest offers to vote and contribute to the MakerDAO governance process with the best interest of the overall community mission in-mind, as determined in its sole discretion. ACREinvest does not have a fiduciary obligation to you as a result of your delegation of MKR to our delegation contract.</p>
<h4>WAIVER OF LIABILITY</h4>
<p>By delegating to ACREinvest you acknowledge and agree that neither Kianga Daverington nor ACREinvest, its owners, agents and affiliates, are liable for any form of damages or losses related to your delegation of your MKR to ACREinvest. By delegating your MKR you accept the outcome of votes made on your behalf by ACREinvest due to your ownership of MKR. It is your responsibility to understand the risks and costs related to delegation of your MKR, and specifically affirm and agree that at all times you have complete control over the delegated assets by adding or removing your MKR from our delegation contract.</p>


ACREinvest

<h1>JustinCase</h1>
<h2>Key Info</h2>
<p>Delegate Address: 0xCdB792c14391F7115Ba77A7Cd27f724fC9eA2091<br>
Forum: <strong>@JustinCase</strong><br>
Discord: @JustinCase#2274<br>
Email: <a target="_blank" href="mailto:DAIJustinCase@gmail.com">DAIJustinCase@gmail.com</a><br>
Reddit: DAIJustinCase<br>
Delegate Video: Will be added as soon as it’s ready.  </p>
<p>Resides in the UTC+1 time zone.</p>
<h2>Core Values</h2>
<p><strong>Maintaining obligations</strong> – Trust comes from honouring commitments; trust is essential for adoption and use of the protocol.</p>
<p><strong>Growing the profitability of the protocol</strong> – Growth is good, but growth must lead to profitability. I favour increasing revenue over reducing costs.</p>
<p><strong>Simplicity</strong> – given a choice between a complex and a less complex solution I will favour the less complex one.</p>
<h2>Delegate Statement</h2>
<p>Summary: I will work towards:</p>
<ul>
<li>Ensuring that a portion of the protocol profits are going towards maintaining a steady burn but recognize that the protocol has other strategic goals as well.</li>
<li>Making sure that previously made deals are honoured and that changes, and terminations of deals are communicated well in advance.</li>
<li>Enhancing growth of the protocol and adoption in new areas, while growing revenue and profitability.</li>
<li>Communicating in a more easily understandable fashion and to try to create enthusiasm for governance among smaller holders of MKR.</li>
</ul>
<p>Here are examples of me advocating some of these issues, <a target="_blank" href="https://forum.makerdao.com/t/mip40c3-sp45-modify-core-unit-budget-ora-001-oracle-gas-costs/11621/6?u=justincase">A</a> <a target="_blank" href="https://forum.makerdao.com/t/makerdao-actual-expenses-vs-budget-september-2021/11525/8?u=justincase">B</a> <a target="_blank" href="https://forum.makerdao.com/t/signal-request-increasing-the-surplus-buffer-2021-11/11448/41?u=justincase">C</a></p>
<p>When I first got into Maker in the fall of 2018 the way it was presented to me was something like this: “This new protocol generates a stablecoin that it lends out and it uses the profits to burn the token and increase its value”. With a lifelong interest in finance and just dipping my toes into crypto, this was a sentence that resonated with me. It presented something different in the cryptosphere. I believe many others have heard a similar pitch and has for a time been somewhat disappointed that a combination of factors has led to long periods of no burn.</p>
<p>As examples I have these two quotes from two different articles about Maker:</p>
<p><em>“…All accrued fees on MakerDAO are paid in MKR. The protocol purchases MKR off the secondary market and burns it, ensuring proper alignment incentive between MKR token holders. The burning of MKR reduces its supply in circulation through its intentional destruction. It is an effective method for increasing and stabilizing the price of MKR with the increased value given to the holder resembling that of a dividend…”</em> <a target="_blank" href="https://www.publish0x.com/cryptoeq/defi-20-has-the-current-spotlight-but-dont-sleep-on-proven-b-xlzxodk">Link</a></p>
<p>“…<em>Token Burn</em></p>
<p><em>“Burnt tokens” have effectively been destroyed, ultimately reducing the total supply of tokens in circulation. Interest accumulated on Maker vaults is paid back in Dai, this Dai is then automatically swapped for MKR and burned. This is the primary economic driver behind the price of MKR tokens. Burning MKR reduces the supply of tokens, putting constant upwards pressure on the price. The more Dai in circulation, the more interest is generated, the stronger the upwards pressure on MKR’s price</em> …” <a target="_blank" href="https://cryptocurrently.medium.com/maker-the-central-bank-of-decentralized-finance-a-breakdown-67ef224ab602">Link</a></p>
<p>This shows that the perception from the outside is that MKR tokens will be burned. Failing to live up to this expectation is to me a failure to meet obligations. I believe that prolonged periods with no burn is damaging to MakerDAO’s credibility and trust and has caused some retail investors to look to other projects, reducing value for remaining MKR holders.</p>
<p>In order to maintain a healthy burn we must turn a healthy profit as well as keep the protocol safe and stable. As indicated by the portion of MKR in my portfolio I am a believer in the growth potential of Maker. I think there is a potential for capturing a larger market share in the cryptosphere, but I believe there is an even larger potential for growth in Real World Assets (RWA).</p>
<p>Maintaining a burn touches into a broader issue of meeting obligations in general. As we grow larger in RWA, we’re going to have many entities depending on MakerDAO acting in good faith and honouring its obligations. Erratic behaviour will result in us losing trust with other entities and reducing our potential as a partner. My default stance will always be to maintain previous deals, either implicit or explicit. Strong arguments can sway a particular issue or stance but if we need to break off on a previous agreement it will have to be after giving a fair warning ahead of time that we intend to do so, assuming it is not possible to come to a mutually agreeable alternate plan.</p>
<p>I recognize that Maker can have a very high barrier of entry and I will do my very best to try to keep my communication as understandable as possible with as little technical jargon and abbreviations as possible.</p>
<p>Lastly, I’d like to share a little of my background. I’m currently working in business administration with a decade of experience. I hold an MBA with a major in Strategy and a minor in Finance.</p>
<p>I have also had some experience from politics. The key takeaway for me was to more carefully consider the needs of different parties and come up with a workable solution that leaves stakeholders satisfied.</p>
<h2>Potential conflicts of interest</h2>
<p>I am a holder of MKR and currently it is about half my crypto portfolio. The maker portion is about two years salary. The other half is in ETH.</p>
<p>I hold a diversified portfolio of stocks and funds.</p>
<p>My primary income is not from Maker, nor do I receive any form of compensation outside of MakerDAO for my participation within.</p>
<h2>Waiver of liability</h2>
<p>I have read and pledge to follow the <a target="_blank" href="https://forum.makerdao.com/t/recognised-delegate-code-of-conduct/9384">Recognized Delegate Code of Conduct</a>. As such I will to the best of my ability act in good faith to the best interests of the Maker Protocol. I will maintain communication regarding my stance on the various issues that is voted on.</p>
<p>By delegating to me you acknowledge and agree that JustinCase will not be held liable for any damages caused by my participation in the Maker Protocol or because of any votes cast while acting as a delegate.</p>


JustinCase

<h1>schuppi</h1>
<h3>Key Info</h3>
<p>Delegate Address: <code>0xb21e535Fb349E4eF0520318aCFe589E174B0126b</code><br>
ENS Name: <code>delegatecontract.mkr.schuppi.eth</code><br>
Delegate Platform: <a target="_blank" href="https://forum.makerdao.com/t/schuppi-delegate-platform/11193">https://forum.makerdao.com/t/schuppi-delegate-platform/11193</a><br>
Forum: @ultraschuppi<br>
Twitter: @schuppi<br>
Discord: schuppi#6905<br>
Email: <a target="_blank" href="mailto:fffwgsp8cpq43dtn@protonmail.com">fffwgsp8cpq43dtn@protonmail.com</a><br>
Meet Your Delegate Video: <a target="_blank" href="https://www.youtube.com/watch?v=3483QFS4_qQ">https://www.youtube.com/watch?v=3483QFS4_qQ</a> </p>
<h3>Delegate Statement</h3>
<h4>Growth over Profit</h4>
<p>Despite already being considered as a blue chip in the DeFi-ecosystem, I believe we are still super early in the game and we should absolutely focus on growing our footprint instead of being profitable.</p>
<p>I have been advocating for increasing the <a target="_blank" href="https://makerdao.world/en/learn/governance/param-system-surplus-buffer/">Surplus Buffer</a> multiple times (<a target="_blank" href="https://forum.makerdao.com/t/signal-request-adjust-the-surplus-buffer/5767">here</a>, <a target="_blank" href="https://forum.makerdao.com/t/signal-request-adjust-the-surplus-buffer-2021-2/6250">here</a>, <a target="_blank" href="https://forum.makerdao.com/t/signal-request-adjust-the-surplus-buffer-march-april-2021/6979">here</a> and <a target="_blank" href="https://forum.makerdao.com/t/signal-request-adjust-the-surplus-buffer-september-2021/10120">here</a>) and I still think we should refrain from burning MKR right now and rather spend money on growing.</p>
<h4>Decentralization</h4>
<p>We are far away from being decentralized. That’s okay. Just to give you some idea how I feel where we should go to</p>
<ul>
<li>Multiple Core Units caring about the same domain is desirable. Just having one Growth CU is not where we should be on the long run, same for CUs doing engineering (we are a lot better already here, but also far from perfect)</li>
<li>We need a lot more collateral types. We already overdid this with crypoassets (onboarded collateral which was just not worth the effort/cost), but I think there are a lot of RWA we can onboard on the on the long run</li>
<li>There has been some talking about SEC-compliance and other US-focused regulatory stuff. I am totally not saying that is bad, but I am missing the notion of Maker being a trans-national thing. Being a European citizen, I might add a bit of geo-decentralization to the list of recognized delegates.</li>
<li>Delegation helped us a lot on letting execs pass. But it also revealed that a single delegate/whale can flip any vote. We need more voter participation and for that most probably a lot more delegates to make this happen.</li>
</ul>
<h4>Trust</h4>
<p>I am usually trusting in people, and not caring a lot about KPIs. I know that this is bad, but it worked well enough for me. I think we do need some standardized way on how we go with accounting, budgets and all of that. Probably not urgent now, but if we don’t prepare it will be too late at some point and everything will be a total mess. We already see traces <a target="_blank" href="https://forum.makerdao.com/t/flip-flop-flap-delegate-llc-platform/9106/31">here</a>.</p>
<h3>About myself</h3>
<p>I already gave some background about myself in the <a target="_blank" href="https://forum.makerdao.com/t/mip41c4-sp22-facilitator-onboarding-makerlabs/10109">Facilitator Onboarding post</a> for the failed MakerLabs Core Unit. Some additional points relevant here</p>
<ul>
<li>I am not a professional delegate, I am just someone who has been voting for >2 years in every single poll and exec and will continue doing that. I am not doing this here for the money, I do it because I believe in this project and think that participating in governance with your MKR is not optional. I am voting anyway and the additional effort of explaining my reasons is not that much.</li>
<li>I hope we are going to see a lot more professional delegates mid-term (and for that a competitive compensation is most probably needed), but in the current situation I want to encourage amateurs like me to step up and offer their service.</li>
<li>It is not only Defi and Maker being early, it is also delegation. I am a bit surprised and disappointed that we ran into the topic of “how much do we need to pay our delegates” just weeks after delegation has started. I put a big NO on the currently running <a target="_blank" href="https://forum.makerdao.com/t/signal-request-should-we-increase-maximum-delegate-compensation-as-described-in-mip61-to-144k-dai-for-the-initial-3-month-delegate-compensation-trial/11093">SR for increasing the max Delegate Compensation</a>.</li>
<li>While the drunk whale was still around, I was already poking him every week giving him an update on the current polls, helping on his decision making and luring him into helping to pass the exec. By that time he was already asking for being able to just delegate his voting power. At this time the idea was born to do that myself. I ditched it in favor of trying the MakerLabs path - so this is totally not an idea that came up recently.</li>
</ul>
<p>As a rule of thumb: I will vote in favor for every exec that gets promoted on chain by the Governance Facilitators that does not feel dangerous to the protocol even if that exec contains changes that I voted against in the previous onchain poll. If you don’t want your MKR to be used for polls but want to help getting execs done asap, you can delegate to my <a target="_blank" href="https://etherscan.io/address/0x8b258B16969b27141A6274935184C2B940F93443">2nd delegate contract</a> which I will use only for supporting execs and not for voting on polls.</p>
<h3>Conflicts of Interest</h3>
<p>I hold a bit of YFI, AAVE, COMP but not to the same degree I hold MKR. Aside from being a <a target="_blank" href="https://discuss.ens.domains/t/ens-dao-delegate-applications/815/881">ENS-Delegate</a>, I am currently not participating in any other DAO and do not plan to do that.</p>
<p>I have read and agree to the <a target="_blank" href="https://forum.makerdao.com/t/recognised-delegate-code-of-conduct/9384">Delegate Code of Conduct</a>.</p>
<h3>Waiver of liability</h3>
<p>By delegating to me, you acknowledge and agree that I participate on a best efforts basis and will not be liable for any form of damages related to my participation in the Maker Protocol or MakerDAO.</p>


schuppi

<h1>GFX Labs</h1>
<h3>Key Info</h3>
<p>Name: GFX Labs<br>
Delegate Address: 0xf60D7a62C98F65480725255e831DE531EFe3fe14<br>
Forum: @GFXlabs<br>
Email: <a target="_blank" href="mailto:governance@gfxlabs.io">governance@gfxlabs.io</a><br>
Meet Your Delegate Video: <a target="_blank" href="https://www.youtube.com/watch?v=SoiTAghnWFE">https://www.youtube.com/watch?v=SoiTAghnWFE</a></p>
<h3>Delegate Statement</h3>
<p>GFX Labs is committed to helping protocols grow and evolve. The current landscape of protocols, DAOs, and protocol governance is extremely nascent.</p>
<p>While MakerDAO has been on the bleeding edge of debt management, stablecoins, and governance there is still much to improve. Our team is comprised of heavy defi users, regular governance participants, and core community members of various protocols. While our predominant experience has been in Compound and Uniswap, we are excited to expand our efforts further into MakerDAO. We look forward to applying our learnings from other protocols to MakerDAO and build cross-protocol relationships.</p>
<p><strong>GFX Labs isn’t a fund. We don’t hold positions. We are a team of builders who love DeFi.</strong> Our participation in governance is rooted in a desire to see DeFi overtake legacy finance. We promise to be active participants. We’ll explain not only when we agree, but most importantly, when we disagree. As first-hand participants in governance know how frustrating it is to work on a proposal, receive limited comments, only to have the proposal shot down at launch. Our door will always be open to those who share the passion for DeFi that we have.</p>
<h3>Conflicts of Interest</h3>
<p>GFX Labs may from time to time be engaged as a delegate on other protocols. All governance participation is public and done through the same wallet.</p>
<p>GFX Labs has read and agrees to abide by the <a target="_blank" href="https://forum.makerdao.com/t/recognised-delegate-code-of-conduct/9384">Delegate Code of Conduct.</a></p>


GFX Labs

<h1>Flip Flop Flap Delegate LLC</h1>
<h3>Key Info</h3>
<p>Delegate Address: flapper.eth<br>
Forum: @ElProgreso<br>
Rocketchat: @ElPro<br>
Email (optional): <a target="_blank" href="mailto:ElProDAI@protonmail.com">ElProDAI@protonmail.com</a><br>
Introduction Video: <a target="_blank" href="https://www.youtube.com/watch?v=22ut8FuGu_Q">https://www.youtube.com/watch?v=22ut8FuGu_Q</a><br>
Meet Your Delegate Video: <a target="_blank" href="https://www.youtube.com/watch?v=SVUm1Bz0U9A&#x26;t=1577s">https://www.youtube.com/watch?v=SVUm1Bz0U9A&#x26;t=1577s</a></p>
<h3>Core Values (Optional)</h3>
<ul>
<li>Prioritize the achievements and future success of MakerDAO.</li>
<li>Help the Maker Community to expand its network effects.</li>
<li>As a Delegate I will be the Voice and Vision of the Maker Community and its Core Units.</li>
</ul>
<h3>Delegate Statement</h3>
<p>For the last 30+ months I have been one of the top 10 MakerDAO Voters. I have probably voted over 150+ times with my MKR tokens. And this passion and focus for Maker Governance has been inspired by All of you, and I mean every single one of you. Yes, you have inspired me and help me follow this passion and mission to make DAI the ultimate decentralized stablecoin. It’s a passion that we share–the passion of Maker+DAI changing the world. The dream of making DAI the standard of Decentralized Finance.</p>
<p>My Ethereum Address with its small portion of MKR might have never carried every Poll and Executive Vote, but thru it all I have always help protect the Hat and I have never let high ETH Gas Prices deter me from voicing my opinion and protecting this protocol. My love for the community and passion for
MakerDAO is more important than any ETH gas I have spent. And that commitment and love my Maker Fam, it will never diminish.</p>
<p>I want to be your MKR Delegate because I believe in you. I believe in your passion. I believe and share your dreams. I believe in a fully decentralized DAO composed of community members that are loyal, responsible, and innovative. Community members who want the same success that Maker has achieved today and the greatness that it will achieve tomorrow.</p>
<p>This is why—when I was asked to join a Working Group to help compose MIP38 DAO Primitives State, MIP39 Core Unit Framework, MIP40 Budget Framework, and MIP41 Facilitator Framework, I did not hesitate. I did not have any Fear. Because this is my passion. This is our home. And protect and build our home is what we do as MKR token holders.</p>
<p>Maker Community, I want to represent your Voice. I want to represent your Vision. Yes, I promise to protect MakerDAO from the Fear of innovating, the Fear of pivoting if needed, the Fear of never reaching decentralization, and the fear of governance attacks. I will do this by listening to your believes, your scientific governance theories, and following the path and vision of the Maker Community and its original vision. That same vision that was put together years ago by a community of Finance Nerds who had the hunger and the passion for changing the status quo. I will protect our Maker ways by inspiring my Delegate colleagues to unite and protect the protocol from any outside attackers, and/or attack vectors. We will work together, follow common grounds and stay diligent.</p>
<p>At times, you and I might have had different opinions. Some opinions were probably similar, others were misconstrued because communication in writing can be misinterpreted. Other times, some of you were too busy to participate and voice your opinion. And then there were some of you who wanted to participate but felt your MKR holdings were not going to make a difference.</p>
<p>Well, I am here to tell you that you will no longer be unnoticed. You will no longer be unheard. You will no longer need to attend every meeting, read every Forum Post, review every MIP application–I will represent you. I will be your voice; I will be your eyes and ears–and you will be the heartbeat of Maker Governance. The pulse of the community will not go unnoticed.</p>
<p>It is because we share this common passion that I ask that you delegate your MKR to Flip Flop Flap Delegate. I promised to respect your views and listen to your concerns. I promised to explain why I voted for Polls and Executives and if you disagree with such vote, I will make time to listen to you and hold your hand as we both shape and build this DAO, together as one.</p>
<h3>Conflicts of Interest</h3>
<ul>
<li>At times I might buy, sell, or hold other Crypto Tokens for short &#x26; long-term trading purposes.</li>
</ul>
<p>I have read and agree to abide by the <a target="_blank" href="https://forum.makerdao.com/t/recognised-delegate-code-of-conduct/9384">Delegate Code of Conduct. </a></p>
<p><strong>Waiver of liability</strong></p>
<p>By delegating to Flip Flop Flap Delegate LLC, you acknowledge and agree that Flip Flop Flap Delegate LLC, will participate on a best efforts basis and will not be liable for any form of damages related to participation in the Maker Protocol, or MakerDAO.</p>


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