11° AVC subcommittee meeting | Accessibility Scope | Sovereign Finance | MakerDAO

Transcript

and governance strategy so just in a bit so this is our notion and our governance strategy document so let's move on um that's a nice answer pink will start it actually we're going to start with the guest yes and caucuses uh I've always been strict about the happiness in the Spanish version yeah we also have like kind of like a dating day what's going on on

our weekly calls since in Spanish it's just monthly it's not every week so you're welcome to come our next one is gonna happen actually this in uh this month in August and we do it in order to kind of like make an upgrade for all the previous calls and you know that there is always some changes that we need to update constantly to also um the Spanish community so thank you for asking by the way and yeah so we're going to start with our our guest but before that if you are an ink and Care holder you can delegate it to um to park to Clocky to Blue to penguin Soldier or to Jack thank you so much

so as I said um we're going to start with our guest which is uh Chris Brown uh summer summer five summer finance and well he's going to share insights about uh the implications of rebranding lessons from Oasis and and more so please if you have any questions about these topics uh feel free to to bring them to the meeting um about the front end as well so you can start writing the the questions um we are gonna talk about the lunch project um and of course the modifications um runs modifications on the

accessibility scope with the significantly increased budget for the lunch project um as well we're gonna have well actually um we're being cautious about um suggesting a specific proposals for this particular scope you know it's a bit um tricky because much of it is already defined and we don't want to propose things just for the sake of it um so if you know in the previous quarter we um we already presented concrete proposals regarding the Clone seal um today we're going to kind of like share clocky's proposal and on the different Scopes and the modifications by the way he also added different parts

um from different ABCs so we're going to see that in just a minute um so we are going to start with our with our guests and uh we have a couple of questions first of all we're really excited about a Chris coming I'm in here since uh they already have like like um out there they're commenting also on the chat I get kind of like distracted so I'm gonna focus on this Slide by the way you can keep commenting I'm reading in a while and so let's start with with this um we have a couple of questions

regarding the the rebranding and but if it would also if you could add a comments in the chat and so I already see that Chris is here hi Chris how are you yeah very well thank you thanks for having me thank you for your time so we have uh here just to kind of like get to know more about what is going uh what's going through you know a transition from branded um has already it's it's big in the market and um something similar is happening already in maker so that's why we want to know like your insights uh first of all the reason why you decided to

um kind of like make this transition so first of all if you would like to introduce yourself sure yeah so I'm yeah I'm Chris uh CEO of of summerfy uh formerly away Stock app uh by making connections go back a long way I was uh I was one of the first product managers uh in in maker uh I joined kind of halfway through 2018 uh and was ultimately responsible for most of the uis uh that maker had uh then from a product point of view um it's only the first governance uh governance UI uh and so on um and then obviously when multicult I launched we we created a ways to start app um keeping the Oasis brand that came

with Oasis decks uh the historic keeping around maker uh since I've seen the very early days it was like the first first decentralized decks uh or first decks uh on on ethereum um so their racist brand had a lot of uh a lot of trust and stuff back then and then so when we launched multicast all day uh within the foundation and the community we we kept that Oasis brand um to kind of keep the traditions of like kind of one-to-one with with with maker um but yeah I was a product lead for Oasis app all the way through the foundation days until until the foundation really dissolved in 2021 um and we we took away sister app uh out of the foundation into a separate company um

many many because it wasn't really suitable to be handed over as a community project because of all of the kind of like centralized resources I had it was a it was a fairly centralized that um and yes I've got very much a product background um and I kind of keep that keep that with me throughout the kind of always sap days since 2021 and now in the summer five days as well yeah that's uh what you mention um so um that transition to Independent entities so in June 2021 as the maker Foundation um disbanded Oasis are became an independent entity so this was probably

a good actor for you all of uh to make this running happen and so um you would let me know about that but how do you approach rebranding a brand that um that holds a significant presence in in the market and if you could give us the the insights since it's already happening something similar to a hearing maker like the Oasis brand had like a huge history uh with maker um and that was actually one of the drivers uh as well in a way so there was there was a couple of points and it was it definitely wasn't an easy easy decision for the team to make um

to to Rebrand but it very much kind of was a team a team consensus decision really um on that it was kind of a discussion topic for a little while um without without consensus as as when the right time would be um but as we as we kind of moved on uh obviously it became kind of more apparent I think that the time time was right um like a month or so ago when we did actually uh do the Rebrand uh obviously we we decided on it for several months uh beforehand but it was time to Rebrand and there was a couple of things there that really kind of went into that decision um stuff really one there was that obviously we were very closely tied with maker um and as as summer uh or as Oasis

back then kind of moving into summer but as a product we were trying to move ourselves away um from just being a maker maker front end to being what we hope to be in fact to be the most trusted entity point to defy so if you want to do anything of your on-chain assets like we want we want like kind of our app where that's Oasis or summer whatever you want to call it basically like the be the place um to do whatever you need to do and defy with those with those unchain assets but with that connection to maker everyone's still Associated this very very closely with with maker and makers going through its own transitions at the moment not just in the rebranding but the whole the whole end game particularly like if we look back a few months now as well um

and and we were we were referred to as maker a lot people still thought we were part of the maker team or just a core unit uh and so on and we we really wanted to kind of split from that and and with maker changing course it felt like a very good time the other thing was is oasis as a as a name within crypto like seems to be spinning up on new projects constantly uh obviously there's Oasis Labs with Oasis network uh like the rose uh token and like Oasis protocol and I think the more and more events we went to in the last year or so we just kept going oh which Oasis are you um and there was it was like new Oasis like projects spinning up almost left

right and Center um like obviously the Oasis name seems to work really well in crypto but it but it meant that it was getting harder and harder and harder to distinguish ourselves around exactly like kind of what Oasis like we were really and what we stood for uh and in the end we just got referred to as like the maker Oasis so um yeah kind of put all those things together we were splitting out like we were kind of pushing forward to do more haven't haven't have many more protocols on the front end uh of the UI to be that kind of just the place you come if you want to do something with your own chain assets and D5 cluster changes in maker plus yeah just getting getting mixed up with other projects

that's a good like kind of like a throwback right um so can you tell us what uh guidelines should one uh consider for a test of this magnitude um like is there like a risk that after rebranding an established brand the new brand might not achieve the same level of recognition as the previous one this is also kind of like very new for you guys but how are you dealing with that yeah so I think I think you need to go back to like kind of your core values and stuff right like what is it that makes like makes your current brand the brand it is today like what is it what does it stand for what does the experience stand for what is the tone and the messaging kind of stand for

because none of that necessarily needs to change um right like what uh what like you as a product and like stand for like those those core values that you that you want to live by um as a as a kind of external facing product um they won't change with the brand right the brand is really just a name on the door uh that's there so I think firstly it's making sure you have alignment and and kind of clarity over exactly what the brand that like currently stands for and if you're rebranding and and changing the name or whatever or like if you're changing color schemes and so on like you still want to reflect those same values right so the new name needs to reflect the same values if you want to kind of keep that continuity unless you're trying to

break away entirely um and so on right so one key thing for us is is like we didn't actually change a huge amount of our actual products so we wanted a a new name and a kind of new brand and it really was just a brand name renaming rather than entirely new brand um we we didn't really change the colors except for kind of going to a slightly more kind of summary kind of themed uh color palette um really and going kind of more more circles that we that we had before just kind of replicating the sun uh or someone or the change in Seasons really um but really it comes down to values so what is if you're like if your new brand doesn't exert the same values as your old brand it's going to be very hard to

maintain that continuity um and so on and there's and there's so many kind of hidden values within a name um that just immediately will come to mind um right as soon as you say a name out loud like there'll be connotations associated with that um whether it's kind of like happy or sad or like kind of trusted or not trusted or like kind of fun or fun or serious and you need to kind of find out where you want to be on those different scales right and kind of like measuring yourself along like certain things that if you kind of named it something extended like kind of a Goldman Sachs for instance right it's going to have a very very different connotation to to like some of the some of the like brand names you get in D5 which are kind of kind of like fun and give it a go and a

newer modern um so I think yeah the values is the the main driver and then again it's about with the whether you within that Rebrand you want to change everything or just trying to change the name and and change other bits kind of gradually like do you really want to get rid of everything that's associated with the current brand like literally start from a clean clean sheet of paper so when someone comes to your site uh or product there is absolutely nothing that I see as similar or do you want to like just or do it kind of gradually so it's like change the name maybe change the color palette a little bit but maintain that name connected to the values but it still feels and works exactly as they expected it to work before so almost you

would just have a like kind of as we've got many of our things it's just summify formally a ways to stop app and as a user it pretty much looks and feels the same um except the name on the very top of the page but but none of the rest of the the products uh actually change so that kind of continuity and product experience that that actually sits behind the brand name and so on what what really makes the product is is no different everything still functions exactly the same it's just a new name it's the same way as kind of some of the Neo Banks and stuff when they baby brand um and so on like I don't know how many people here use transfer wires at all but for instance like they dropped just the transfer from their name right there just called wise and it's got formally

transferwise like on all of their materials for good like nine months um but yeah yeah actually you were mentioning something that I was coming to the next um the next question really was where is Summer headed in comparisons to Oasis but you just said it that it's pretty much like the same right yeah I mean as a product nothing nothing changes between our kind of vision mission or whatever um again our core values nothing nothing has changed there it is just a effectively that new name on the door with a with a kind of fresh fresh look of like paint in a similar sort of color scheme really um but as a product I think we are like the feedback from users is with like

we're doing it we're doing everything like kind of right we just need to keep pushing forward on kind of innovation and so on really but as a user when you come to the products once you've kind of looked past the logo in the top left um nothing nothing is any different uh so the same product that was that was extremely well trusted um before and that trust ultimately came from the maker connections back in the day um is is exactly the same so you're not like you aren't hit with a completely different experience just because we've changed the name um and I think if you want to maintain if you've got values to maintain that's really important um thank you for your answer here are

some questions regard a comment first and then a question from penguin solder he says great sharing on their brand new story Chris I think it's very up to the accessibility accessibility is called discussion for today us maker is looking to Rebrand with the end game with launching of new stable and you got tokens do you have any comments on the approach as die in mqr are staying this could end up having the same effect as this token speak whole maker new stable or maker nuke of token which might nearly be the rebranding effect any comments on this uh yeah so I mean I haven't I haven't stayed too up to too up to date with the

maker that since the end game stuff came in so I don't I don't know the full details I actually it is like is the name actually like new stable and new gov token or is that just like yeah I mean they're they're not the names but it's how they are known until today until now okay it's been said that it's going to change yeah yeah but so far everybody knows them and he like mentionings and call them like that okay yeah I mean I mean I personally I think like I don't know why I necessarily making Easter Rebrand die uh in particular and even the mkr token um like there is like for me like they are

they are incred incredible powerful brands that have uh like I'm not quite sure of of the kind of like negative negative reasons for staying with the current um Brands other than maybe trying to just disconnect us with with some history um but yeah I'm not sure I mean I mean my personal feeling is like there's a lot of things naked could be doing um and I think the rebranding is potentially just a way to kind of like it may be a shortcut to thinking it will hopefully fix some things whether that's pricing or what but um it feels like of all the things going on like rebranding my opinion is probably kind of bottom of the list of all the other things going

on and as I touched on before like trying to keep that same experience and so on and and and be the same thing there's such huge changes going on in in maker I think concepts of like rebranding then the tokens that everybody knows and trusts um is is it's going to be it's going to be probably pretty difficult and I'm just I'm not entirely sure why um it needs to happen um even even if you're redeploying the token I mean we had die in the single collateral diet days like I know it's it's now referred to as science and it's it's called site everywhere but it it was die right in in the single collateral um days as well uh and and when we when we brought our multilateral die we we

wanted to keep that same name so like it was the old token that was that was rebranded so if it is just a if it's new functionality with a token like I've seen kind of pushed around like it's got some extra stuff connected to it I don't know why you wouldn't do something similar again and and just maybe like have a have a die token call something else even just called like old die or side 2 or something and then and then like have the current one like the new deploy token as uh as diet it yeah I mean it's it's not something that I would have kind of like kind of pushed or voted for personally um like I said we were very we were very strong on the summer side that the product itself and nothing about the experience of using it and as someone

else said as well there was no smart contract changes or anything that came along with the rebranding of somewhere like like literally nothing else changes like the rebranding was like a a feature branch that literally just changed the name and colors and some links um functionality-wise there was other people working on exactly the same functionality that's that's still there today um it's that's about I don't waste money I mean yeah I just like it's not saying I would uh I would I would do personally um but uh but yeah not not well everything else is is going on right now and I don't think like the maker or die brand is is like a dumpster fire or anything either like I've never seen any complaints

about the brand put it that way yeah I think what you said that I has a lot of his and also penguin Soldier comments I agree with you Chris I am I too am scratching my head to understand the rationale to Rebrand existing tokens that are well trusted and well yes uh will die in mqr and it's gonna be now a new stable new of talking uh although if you use the whole uh dye or new golf talking I mean I mean die or mkr um I mean those stockings are going to still exist but yes they're going to be these two brand new tokens um actually there are a lot of comments

in the chat and questions um the access just say it's a bad idea and a waste of money both wizard says I think maker just want to connect with the new brand with the end game update probably yes but it says allocator issuance replaces retail issuance associate risks with the new stable changes fundamentally new benefits all supplies from our view it makes total totally sense oh nice uh there is a question here as well um let me find it oh well it's not a question it's more like a penguin Soldier says if I'm not wrong there are no smart contract changes that came along with the

rebranding of Summer summertime as well is that right Chris yeah yeah yeah absolutely yeah I think I touched this before as well there was yeah nothing changing the smart contracts uh absolutely I said hardly hardly any of the code uh changed apart from apart from links I think Into Summer fire and new logo in the top left um really and the slight color color palette um I mean as well just to talk talk to Blue's comments around around the kind of like Associated risk with a stable coin changes funds like changes fundamentally like I think like actually PBS just said kind of what I was gonna say it's like I think an interesting point of view but it's it's still going

to filter down like it's still going to come through the sort of sub-dials to the kind of the retail users um it's still going to be like have this like retail issuance at some point and it's still basically going to be operating the same the same way um really it's still a it's still a it's still a it's still a like a crypto like a collateral backstable coin right um that like it's it's so hard to build trust in a in a token especially now that there are there are so many and been so many failures as well like even like you're not starting from scratch uh but by changing the Rebrand you're effectively telling it telling everybody it's starting from scratch and trying to

build up that trust again is going to be um pretty hard like I it was I I I think I was having a conversation with some people the other day that if you were to relaunch maker as it is right now like would it get to like the four or five billion dollar um like circulation is it as it is right now and it's it was kind of like probably not of all the competition um I saw around it would be hard to understand like why but that that trust has kind of kept it at um like yeah like so even to the comment about nine percent of new users aren't even crypto and not miss like not know about mkr would die but the people that do Discover It are going to get told about

it over and over and over and over again and be able to find that history I think um anyway but uh but yeah I'll uh sorry I say put it here I agree on that it's really hard to trust um new tokens the name the name says rebound makes sense for maker to look into is kill the stable coin to a mask audience 90 of new users are not even in crypto now and will not miss or know about mkr okay well that's also true yes I agree on that too but the public access Samurai includes a few Ave B2 pools are you planning on offerings part

pools as well uh yeah I think down the road certainly uh we were just waiting for the spot to get a little bit of traction um I'm already having the discussion internally uh and with the team as well uh about supporting that um eventually and I think it's a true name I think the only question I would have on that like he said it makes total sense 90 of users like wait missing I know about it but uh just to that point specifically I think like from a product point of view where what's the value adding changing the name to like how is change your name gonna basically uh scale the stable coins to a mass audience like that that's the only challenge so like you want to spend time effort and money doing something you want to see a return and how it's going

to help do something and I I had I don't know why like Harvey branding helps it scale like that's the bit I'm I think I'm missing like you you do something because it it has the return on investment rate like you want to spend time and money on it but I don't see like how we branding helps it like it might skate like you might scale and you might look back and say ah it's because of the Rebrand but I think it's that question around like like it how did you know it couldn't be 2x what it got to if you didn't Rebrand um and so on so it's an impossible thing to ever measure uh as well but you can't ever measure and Rebrand that's ultimately um

but yeah that was a good question what's what's the value added right I think that oh if we only knew also what what's going through every project that decided to do to make these kind of decisions but um it says well let me read the next comments Jack says there's a secret Community spending money on the new name maybe they can tell us how their efforts will help scale oh can you tell us more about that um well then true name says there's a vision for end game that many do not see the new brand deals with brand confusion

and allegedly or what is maker versus diet that roon has articulated very well in taskas well yes uh he has explained it what he like the reason why he's also making this Rebrand and the reason why there are these two new token new tokens and with the allocator and subdials what's his plan uh well for him how maker has been um so far it's not like the best so he's planning he has this this plan in order to improve all this um kind of like things that were not working working well

um well let me read some comments Okay pink glitter says wouldn't it be more confusing than in terms of bringing in new users more tokens to understand while getting into crypto yeah that's also what you all point out there uh about the coming from true name Chris uh was also kind of like interesting to know your point of view on that um well I have another question that it's regarding I'm going to read keep reading the comments as well um so about the acne project I don't know I'm not even like I pronouncing it

that one the protocol there you go yeah how do you go about selecting projects to support and like if you like to share some details about action uh yes I mean we we've only got a couple of protocols on there but um I mean the the Arsenal product was project was um like mainly mainly created by num like a number of x-maker people as well who we all knew very very well so so for us like one of the biggest things for for us and and again the kind of values and the brand uh that we have with with Oasis when we when we first started the work um or summer now is is how do we like at

all times maintain that kind of trust uh for my users so this was obviously the very first time we'd onboarded a brand new protocol uh from the start let's just into makeup really um uh and uh like we have we have this trust and and we have a lot of user research that kind of shows that a lot of people that use summer that we've that we've spoken to in like user interview sessions and so on and I would like kind of told us when we were making this decision that anything that kind of Oasis at the time supports like if a race is trust it then then I can trust it um and that and that was that was super important for us then to to understand exactly like the protocols that we sport we must be able to trust ourselves so with archana it came from a a a team of

of of developers and and and other people like product people and business people that we that we absolutely trusted from our our time back in back in the maker days um uh and so on right so we we knew the team very well we knew kind of their approach the dings we knew the risks they would and would have wouldn't be willing um uh to take um and and we and we got and we got to like kind of got to see the code and review the code and look over the code um and and we reached out to a number of kind of like well-known kind of D5 users as well and and spoke to those um kind of random concept past them and so on but but crucially it fitted into the vision of what like we have as a product on on on on summer fire today uh

for example so the the primary product of summary is obviously you can you can borrow you can borrow you can multiply and you can earn um and Arsenal fitted into that that model absolutely perfectly um the same way like make it obviously kind of created that model uh for us our way fits into it very well there's a number of other other protocols as well um that we're looking at but crucially what we're doing is we're looking for protocols that one we can trust and and we'll help our users ultimately kind of um get the job like get the job done for our users really so we use the jobs to be done framework within like internally to the to the project we're working on features and and the product backlog and so on and that is the like that that Arjuna protocol like helped us like be

the tool to help help us get the job done for those users really so the fact that you can you can you can lend to protocols uh lentoples um sorry um like the isolation multiples and someone you can borrow from them that fitted perfectly into a kind of multiply products you can earn through lending uh on there so it it fit into our kind of UI one-to-one and beyond that I think it's just a hugely Innovative like protocol as well um like when we when we first saw it that the Oracle is completely permissionless nature with no no governance um like attached to the actual protocol I mean the grants funding afterwards um it's it's pretty amazing and I think in

some ways kind of all kind of goes in some ways to some of the things that maker was maybe wanted to try and do in the in the early days um I think if you look at like Rye um um for instance like that was uh like kind of the next step of of making away with the kind of like trfm uh kind of mechanism for like maintaining it maintaining a stable thing like this is all just driven driven by code and no governance so the pool the rates and so on they're continuously changing and fluctuating depending on the supply and demand um and so on uh yeah

oh yeah go ahead go ahead and conversations going on about the the rebranding store above but um yeah it says any any thoughts on adding uh lsts or restaking um e tokens as as collateral so there's there's a number of lsts already as collateral uh through Archer so there's a lot of kind of like if like CBE Thief uh re uh and so on uh on there but I mean the great thing um with with us anyone could create a pool with any tokens and uh hopefully kind of really awesome feature that we're working on right now is is something called Oracle loss mode which you'll be able to come to Summer fight and if the pool exists uh on Arjuna you'll just be able to like type in type

in the token addresses or type in the pool addresses however which way you want to do it um or the token names if it's if it's part of like the token list um like one of the major token lists and it will find you all the level on pools and you'll just be able to use all of their functionality like borrow multiply and earn um for any of the long-term assets you have there so we kind of tried a proof of concept in a way the other day uh or last week when we added like World coin uh welcome usdc in usdc wellcoin um so effectively a long and a shortfall um to show that like uh you can you can basically support any um any any token almost from launch uh on it basically um

and uh yeah but I mean any even even some other kind of the mistaking tokens and so on like and anything can basically be collateral in there um just like make your RV and so on like you can't really have the rebasing uh tokens very easily so they would have to be wrapped versions um on there so obviously it's wrap stick teeth not steak teeth uh and so on but the likes of like coinbase Ethan and Rocket ethers uh all work really well along with along with some other ones as well I have another question about what you were saying but there is a clock is asking will summer Finance be offering any guidance to the accessibility

facilitators regarding the front-end standards of subdials uh we we haven't we haven't got any plans to at the moment I think we're still waiting to see how that that sort of stuff works it works like we heard when talking about it I think at the very very very early days of of in-game when when end game was was was first announced um there was there was some ideas there and and mentions of like how Oasis could be used as like a template or something um all of the code is open source so that could definitely like kind of definitely definitely work but um yeah we haven't got any like anything kind of in the pipeline for to say yes or no to doing that really

yeah thank you for your answer penguin solder asked hi Chris we'll summer if I ever introduce a formal test net simulation similar to that available on spark protocol or deviceaver uh it it's been a discussion point for I think almost like 12 12 months or so in around around that kind of simulation thing and the value of that simulation thing um it's ultimately it's often come down to how many users would actually benefit or use the the simulation um uh stuff basically that's in there so you can go and simulate it the the word test that's available like we we had test Nets available ever since 2019 like you could just use girly or whatever to to test it but the actual simulation

feature similar to like D5 saver for instance um like it's kind of always been a question and goes back to that kind of return on investment I did really around whether like that the simulation thing you can run where you where you start a fork and run it basically through a test net uh in a sense with with like kind of pretend money um like how valuable that is to like say 95 of the users uh that are using the product or can we better build these just a simulation um kind of in using using data to help the users kind of say like this is this is roughly where you where you'll earn we're kind of working on a new onboarding at the moment which kind of helps helps give that kind of more more traditional simulation way but but kind of using back data

um so to say that like you've got a liquidation price which is like 22 below um like the current price for instance the last time the the price or in the last three years the price has fallen 22 within like say say 24 hours uh on two occasions on these two dates um so we're trying to look at actually like what is the best way to add value to the users uh in kind of providing that data um compared with just just offering a a fairly a fairly complex and like B5 power user simulation really um that uses it but trying to like simulate how much you'll earn over a period of time what is the worst case scenario based on the data that's happened in the last few years and so on [Music]

well thank you there is uh another comment and I was also kind of like asking you about both acna and summerfi well they have these um user friend friendly interface so what can you tell us kind of like what it takes to create to build this kind of of user-friendly interface in order for take into account and also I think for also for the the end game it's also kind of like be more user friendly so any tips uh that you can share with us I mean there's always one Golden Rule right when building building user

interfaces and that's just and that's speak to your users um so so identify who your users are kind of step one so who who is the user uh and sometimes you have a user and a customer right so a customer is the ones that are off and paying you the money and then a user could be someone else that's maybe using using using your service um uh probably for free uh right but generating you money elsewhere um for instance but you you listen you speak speak to your users and listen to your users um like that that old adage of like build it and they will come is is like not sure in like 99.99 of cases like you have to you have to solve solve real problems uh that your users have uh and

you kind of like the one thing I say to our team a lot is that you just have to like make feel like their life is improved by by using your product or your app so if they don't feel like they're like like if they don't feel the need to come back and use you um like your your product is never going to grow and you're never going to get that kind of word of mouth referrals so if you if you listen to your users and build build what they want um nine times out of ten they will be the ones that do the most to your marketing way and and tell you and tell their friends and others um like the classic kind of like like Christmas dinner or Thanksgiving dinner like tell their friends and family about about your product and what it does and

I think that was the thing attracts me to die in the early days right where I generally solved a problem the whole like Bank in the young Banks and so on like sold solved problems for real people um like all over all over the kind of all over the world really um and and then and the maker protocol being able to like generate liquidity from the assets you hold that you don't want to get rid of um in in such an easy way again it's like people people came back to that particularly in the side days in the early days of April and stuff right like people came back to the makeup to make a protocol so much and we saw that in D5 summer where you could then use the mega critical to make money elsewhere and so on to be yield farming or whatever like

there was there was real use cases but It ultimately comes like from speaking to your users if you want to know who your users are and understand what they're they're real like kind of core problems are yeah I think I'm going to stay without what you said listen to your uses and speak to your users totally 100 agree um I'm reading the comments um friendly reminder well we love having debates in our meetings uh just maintain respect in your arguments um then another question says well comment from penguin Soldier this makes

a lot of sense Chris for the value add to 95 of the users of Summer five um I think that's it I don't know Chris is there is anything else that you would like to add your final words no just thank you very much it's uh it's been been really awesome and some yeah I'm really liking the debate that started even though I can't I can't quite keep up with it on the on the side a little bit but um yeah I remember I'm gonna keep watching watching with uh yeah really Keen eyes on on on everything that's that's happening thank you so much for your time it was longer than we expected but oh thank you

so much it was really ill good to know your insights with this rebranding and all the topics that you mentioned we're going to by the way this is recording so everyone could also re-watch this uh and again thank you Chris for your time we're going to move on thank you thank you I'm gonna move on to our next part which is um I want to talk about the lunch project and also the modifications made by Rune so um we have here and here I would love like to um share the definition if you saw today earlier ecosystem post related to the lunch project updates so

um I'm just going to start by reading his definition uh and then we'll keep going uh with the what is on the on the scope so it says that the launch project is a coordination and we strapping F4 under the accessibility scope that will support a successful deployment of the early endgame launch faces until the end of 2024. I want to keep going with this and there are two updates but I just wanted to kind of like paraphrase how ecosystem defines the launch project um well uh basically it's um it's a temporary initiative led by the accessibility facilitators

um to support us as ecosystem manager to support early launch phases for one and a year one and a half years until the end of 2024 so it coordinates brand development what we're just talking marketing and IT integrates smart contract development um well the project also focuses on AI and governance Tech a Partnerships um and non-crypto advisory council members uh and something that it's uh regarding as well the modification it's a it's an exception trans to transparency rules uh due to the new

um runs impact so um also a post better launch it emphasizes transparency marketing on and growth uh well let's move in on to the next part so the key Focus areas um so when it comes to coordination it oversees the the development of the new brand uh the new website marketing and also communication strategies so I think that since it's very related to um or just what Chris was mentioning earlier so um well as well that's uh seamlessly

integrated in smart Contour development into the launch process and then when it comes to um the AI and governance technology he develops essential Ai and governance uh well yeah AI in governance technology um fostering Partnerships with high value companies to reinforce microdos utilization of AI and governance tools and when it comes to advisory Council um um the project aims to attract um high value advisory council members from non-traditional crypto background and when it comes to the focus at the

post uh better lunch so something that is mentioned in the scope is that um the lunch project is uh it's a one-time exception to um to maximum transparency requirements um and this is due to the significance of the new brand launch in impact and the need for uh positive initial impression so it's allowed to focus on um a strong debut including integrating of course non-crypto partners uh without immediate exposure to Unique dialogue governance complexities and so uh after the better

lunch and the lunch project shifts to um uh Focus to higher transparency standards um and well this involves coordinating marketing and launch processes for subsequent uh phases so preparing the community for increased governance participation and um driving growth across the system and now um we're going to focus on the modifications May marooned so in this Amendment proposal that I'm share with with you this was of course regarding

this you got regarding the the budget for the launch project I'm going to send the link here it's gonna read the comments in a minute yeah we're gonna talk about that 20 plus 20 million non-transparency budget opinions on this yes please yes rebranding can be quite expensive depending on the scope of the Rebrand [Music] um Okay so share with you this okay so I share the

link which is from the notifications maybe around it um okay this one okay so yes uh as I'm reading in the comments well the modifications involves the budget so the initial one-time budget for the launch product has been increased in the end of it it has been uh I mean the the difference is it's wider it's a lot so it's a 20 million die the initial mkr budget has been increased to 5000 mkr and the rate at which mqr can be spent per month has

been increased from uh has been increased to 500 mkr so yes I would like to I'm gonna read your comments how do you guys what is your opinion on all of these changes and um some are in favor some are against so oh it was writing as well they are starting in Asia yes and of course just a few hours ago ecosystem post about this new these two events coming up in Singapore I'm going to share it here um which this one and I'm going to share the link

okay so yes as you can see there are two main updates um the first one it's um the phase one integration test success uh it mentions that the better lunch has been completely successfully and this step in both testing the technical and front-end components of the initial version of the new website and well by achieving this Milestone potential challenges and issues were identified in um addressed early on so these um this test helps symbolize the timeline enrollment for the launch and also reducing the likelihood of

um last minute surprises and then of course um they mentioned about the expansion to Asia so maker that is preparing um to I mean to have a present in two significant print events uh one Rune post posted about it which is a Korea blockchain week and the other one is the token 2049 both and I mean the token 49 in Singapore and both are scheduled for September and so yeah the goal is uh it says here that it's to establish um a stronger Community presence in in Asia

not only that but uh also um introduce Dallas to the Asian market um and well they also mentioned that there's gonna share limited edition maker and the end game swag so um what do you guys think about this as well I mean is anyone attending this so I'm going to start reading the the questions in here uh Jack says I I read that and wonder who these dial community members and so since Dallas has no lunch that was actually that is a good point yes blue says we propose we propose that everyone who cares gets one week to

prepare potential questions to the facilitator responsible for the launch project I'll see them on the next week's call and you can then select the questions you find relevant and ask them could be done in collaboration with all ABCs all questions will of course not be answered but if you if just some of them are this might help us and get us an idea about the progress and help the ABC's villain is reasoning for supporting the upcoming votes I think it's about a wonderful idea do you have anyone in by in in mind blow um who is the facilitator responsible for the launch project uh Jackson's main question is how to make sure someone does not just pay

their friends to the money even if the decisions do not need to be voted upon after the park reporting is a must yes um okay well I'm stated people right in here I'm going to I shared this one okay and well before going to the next time I'm Google says if we do this we will try to find the right person or group of persons kind of nice yes I think uh this is a good good idea okay

moving on to the next part if anyone has anything to say regarding the lunch project regarding this posts talk is riding and as I mentioned uh at the beginning of the call and yeah we we find it hard

to make proposals for this for this cup that's why we are going to move on to clocky's proposal oh and practice I support this initiative I pin says SES in Forum asking about the new brand IP protection budget but had no answer so far oh maybe you can link the comment here you can share the link and uh what I was saying is that um yeah well uh since we we didn't find any more proposals uh relevant so we decided to move on with this one and uh well shout out to cocky and his proposal I'm going to share the

link of this [Music] um just a minute oh thank you for sharing Polk I think we should like comment or say something to so more people could be involved in this one um so sharing the link from the clock is and proposals and uh well he has put forward his uh his Proposal with modifications and changes and some parts

are came from The Sovereign Finance ABC others from uh refi even from um from growth that is now disbanded but yes um we encourage for you guys to give us a feedback about this which uh mainly it's about um I mean transparency accountability in clarify in the governance advisory councils processes ensuring that qualified and unbiased individuals or entities contribute to improving the governance scope artifacts um the process of selecting recognizing and managing advisory council members as well as specifying the roles and

responsible responsibilities within the context of the support scope artifact and the process is for applying reviewing and improving and approving advisory council members as well as clear guidelines for their roles competencies and contributions in the protocol scope and this is just a very very brief summary but he posted the modifications from the different Scouts so I don't know if anyone has a comment on this I see the monopolicus writing or about anything important in general in from the call from today you could uh share comments and ask also

to our 80s um about everything that um Chris mentioned and also the ideas that are uh given in here I think we should take into account all of them and also what do you guys think comments one key component of article 9 is that in order to ensure a successful launch and to protect potential Partners from the complexities of the governance the launch project will temporarily operate with less transparency than usual as we all know that governance is quite complex and would make a new partners head spin uh oh yeah no actually we we do mention

this one um about the transparency yes um yes it's great to point out I I think it did mention but yes it has changed what do you guys think about these what do you think monopolica foreign

oh yes thank you manorina so there is the um this is going to be upload in YouTube so here's the link thank you so much for sharing and yeah says perhaps transparency trust trade-off need to digest more yes um I I'm gonna try to also put this on the um I share with you also a runs modification and he points out that there I think that should be also a good uh ask for further details right okay so Clocky says unfortunately at

this point alterations can be made for the current cycle our best course of action now is to remain optimistic and Trust uh that the proposed changes will be satisfactory for the minority of ABCs and ultimately be approved we are open to receiving feedback for the next month's Meep and encourage everyone to share with their thoughts and suggestions for that that me with also Encompass the remaining two Scopes stability and accessibility looking forward to that Clocky and just before we finish um just to point out um so I'm gonna share with you our proposal for Quarter Two

which um also Marianas member for in the ABC he also shared um so this is it take a look at this I feel that is very welcome and well if no one else have any further comments about today's call um already share with you and I do appreciating value feedback from ads make your governance participants and all members of the maker ecosystem remember that your input is highly encouraged and welcomed and next week is going to we're going to discuss

governance scope week six and that will be all for tonight uh well to date depending on where you are um if you put your work and share our value we invite you to consider become an ad of uh Sovereign Finance ABC and if you're an M care holder you can delegate to our 80s that's all thank you for your time and attention see you next Thursday bye bye everyone [Music]

foreign [Music] foreign