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<!doctype html> <html lang="en"> <head> <meta charset="utf-8"> <meta name="viewport" content="width=device-width, initial-scale=1"> <title>monetsupply</title> <meta name="description" content="monetsupply — defi expert, risk manager, delegate, angel investor. 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Spark is the largest onchain capital allocator, focused on delivering institutional grade finance for everyone. We offer industry leading savings and borrowing products for individuals and institutions, as well as tailored liquidity solutions for stablecoin issuers, fintechs, blockchains, and protocols. </p> <p> I previously worked at BA Labs Pte Ltd (dba <a href="https://blockanalitica.com/">Block Analitica</a>), where I served as a managing partner and principal risk analyst. BA specializes in risk management consulting, collateral evaluation, mechanism design, parameter management and automation, DAO governance processes, and data analytics. Major clients past and present include Sky (fka MakerDAO), Spark, Morpho, and Ethena. I have also served as a delegate in leading decentralized protocols including Uniswap, Compound, and others; you can see my voting activity on <a href="https://www.tally.xyz/profile/monetsupply.eth">Tally</a> and <a href="https://snapshot.org/#/profile/0x8d07D225a769b7Af3A923481E1FdF49180e6A265">Snapshot</a>. </p> <p> Find me at monetsupply on <a href="https://twitter.com/MonetSupply">Twitter</a>, Discord, Telegram, <a href="https://warpcast.com/monetsupply">Farcaster</a>, and <a href="https://hey.xyz/u/monetsupply">Lens</a>, and at monet-supply on <a href="https://github.com/monet-supply">Github</a> and discourse governance forums. </p> <h2>Selected Works</h2> <ul> <li><a href="https://uncommoncore.co/a-new-mental-model-for-defi-treasuries/">A New Mental Model for Defi Treasuries</a> (w/ Hasu), Uncommon Core Blog, 2021</li> <li><a href="https://docs.google.com/presentation/d/1zocTaQpidYEVvIhSw7exPfasaeaI24kZyFDhp2Gtuew/edit?usp=sharing">Consulting vs Curation: New Models for Risk Management</a>, Permissionless IV, 2025</li> </ul> <h2>Disclosure</h2> <p> I have made private investments into Arkis, Boost, Chronicle Labs, Lido, Neon EVM, Stride, Tenbin Labs, and 3F Labs. My significant liquid investments include BTC, ETH, SOL, SKY (MKR), ZEC, and SPK. I will try to update this disclosure when there are any material changes, but cannot guarantee the above details are accurate or comprehensive at all times. I may have financial positions in other assets or projects I mention in public communications or content. </p> <h2>Disclaimers</h2> <p><strong>NO ADVICE</strong> Content and communications are provided for informational purposes only, and should not be taken or relied upon as financial, investment, tax, or legal advice. Individuals should seek qualified professional advice where appropriate.</p> <p><strong>NO SOLICITATION</strong> Mention of particular assets or projects is not intended as an offer to sell, solicitation of an offer to buy, or recommendation to engage with any asset or protocol. Content and communications are not directed at or intended for use within the UK or by UK nationals or residents.</p> <p><strong>NO WARRANTY</strong> Content, communications, services, and other forms of participation are provided and undertaken on a best-efforts, as-is, and as-available basis, without warranty of any kind, express or implied, including any warranties of accuracy, non-infringement, merchantability, and fitness for a particular purpose. Delegators understand and agree that I will not be liable for any acts or omissions with respect to my participation as a protocol delegate.</p> <p><strong>NO RIGHTS RESERVED</strong> Except when explicitly stated otherwise, my content, communications, and other works are dedicated to the public domain via <a href="https://creativecommons.org/publicdomain/zero/1.0/">CC0</a>.</p> <h2>Canary</h2> <p> As of 1 April 2026, I have not received warrants or subpoenas from any government organizations that prevent public disclosure, have not been served in any confidential legal matters, and am not participating in any government investigations. I intend to update this statement at least annually. </p> <h2>Signature</h2> <p><a class="sig" href="https://etherscan.io/verifySig/38842">0xcee5bd4d71834ddb363b1d7c37223ff14799751be19a353d07fb4d2f1d716765459c758a550bc32708c53a7bddcb6c6b18ad24864e28540a6cd535aa58a2a70c1c</a></p> </main> </body> </html>
I agree with most of this in principal but I dont think an onchain vote is an appropriate way to express or endorse this, and I'm also a bit of a "bylaws minimalist" wrt DAOs in general- enumerating a bunch of potentially unenforceable rules feels like a distraction
A good project and strong team in a predictable and transparent roadmap, planned and projected. I think in the near future we will see an unprecedented growth of this project. But in all seriousness, there's a bit of a free-rider problem with supporting this sort of public good/open access gov infra, but I think at Uniswap's scale it makes sense to bite the bullet and put forward a small but meaningful contribution, even if other daos end up free-riding on it.
Union Safety ModuleThis safety module protects Union users against significant hacks, bugs, or malfeasance.https://assets.coingecko.com/coins/images/30556/standard/Mark.png{"protectionCapAmountUsd":"","shortfallDistributionMethod":"Prorata"}
DEF has delivered good work, and I believe this is good value for money for UNI holders and the Uniswap DAO. There's a bit of a free rider problem and I hope to see other DAOs make meaningful contributions as well, following Uniswap's lead.
Think service providers should still get part of their payment (maybe 20-30%?) in comp for incentive alignment, but switching to primarily stables payment makes sense and Aera is a suitable way to achieve this.
I don't completely agree with proposal's framing (eg. dont think the UNI treasury is "underutilized", as UNI in treasury is basically just unissued tokens, not an asset). But having greater runway in less volatile assets would be useful, and these assets could also be managed strategically to benefit the Uniswap ecosystem (eg. deploy stablecoins into concentrated LP pools). Excited to see what this group comes up with.
The customer is always right. Yes v2 is in many (most) ways inferior to v3, but it still sees consistent demand and usage on mainnet (and forks of v2 see demand on external chains). Easy yes.
Alpha Growth brings a ton of energy and grit to their work. Think this will help Compound get back on the front foot and regain relevance in the liquidity protocol space. Let them cook!
Interesting concept. I don't think we've seen friendly forks succeed much in the past, but I won't stand in the way if community thinks this is a good idea. Wish there was a more clear exit strategy for uniswap if this ends up not going well.
Parameters look reasonable. Arbitrum is the most widely used L2 and deploying here is a no brainer. Also happy to see integration of platform specific collaterals (ARB/GMX) as this could drive more usage. GLP might be a good future addition.
# Adjust cCOMP and cUNI Parameters ### Summary This proposal makes changes to the cCOMP and cUNI markets. The borrow cap for cCOMP is increased from 90,750 to 150,000 COMP, and the cCOMP interest rate model is switched to the rate model currently in use for cUNI, resulting in slightly higher borrowing costs across the utilization curve. The rate model for cUNI is switched to the rate model currently in use for cAAVE/cMKR/cYFI/cSUSHI, normalizing it with other similar assets and resulting in slightly lower borrowing costs across the utilization curve. ### Reasoning Recently the v2 cCOMP market has seen high utilization, with total borrowings currently at the 90,750 COMP borrow cap. This implies that market parameters are not well optimized and some users are taking advantage of artificially compressed borrowing costs. The proposed changes will increase borrowing capacity and borrow rates, which should help the market reach a more suitable equilibrium and increase supply rates. While the COMP borrow cap still plays an important role in protecting against governance manipulation, recent votes have shown strong participation, indicating that a moderate increase in the cap is safe. Moving the cUNI market interest rate model to the model currently in use for other defi tokens will normalize interest rates across similar assets. This change and also allows for the possibility of making additional updates to the cCOMP interest rate curve in the future if necessary, as the cCOMP market will no longer share a common interest rate model contract with other assets. See discussion in the [forum](https://www.comp.xyz/t/update-ccomp-parameters-borrow-cap-and-interest-rate-model/3614/8) for more details.
# cETH Risk Mitigation ## Summary This proposal will make several changes to the cETH market on Compound v2 in preparation for the upcoming Ethereum merge and switch to POS consensus. This includes setting a borrow cap of 100,000 ETH, as well as updating the interest rate model to a jump rate model with much higher rates after exceeding 80% borrow utilization, up to a maximum of 1000% APR at 100% utilization. ## Reasoning The upcoming merge has the potential to cause disruption to ETH lending markets due to the possibility of receiving airdrops of ETH fork tokens. This may incentivize excessive borrowing from ETH lending pools, which leads to negative user experience for depositors who cannot withdraw funds when utilization reaches 100%, as well as safety concerns due to potential to interfere with liquidations of ETH collateralized positions. The proposed changes should help reduce risk of the cETH market reaching 100% utilization. See the [forum discussion](https://www.comp.xyz/t/proposal-adjust-eth-interest-rate-model/3493) for further details. The proposal includes payments to proposal contributors, including 100 COMP to MakerDAO governance timelock for Block Analitica (Maker risk) team’s analysis, as well as 45 COMP to Arr00 for development work.
# Reduce MKR Borrow Limit ### Summary This proposal reduces the MKR market's borrow limit from the current value of 25,000 MKR to 5,000 MKR. ### Reasoning Lowering the borrow limit makes it more difficult for malicious parties to interfere with MakerDAO governance. This should reduce the likelihood of disruption to Compound's DAI and MKR markets, and also minimize risk to the wider defi ecosystem. MKR is not frequently borrowed, and based on historical demand across Aave and Compound this 5,000 token limit is unlikely to limit typical usage. See the full discussion [here](https://www.comp.xyz/t/reducing-mkr-borrow-cap/2959).
Generally in favor of making it easier for Comp governance to get stuff done. But I think maybe lowering the proposal threshold is a "feel good" measure that doesn't really address the primary roadblocks for governance.
I don't think it's appropriate to use borrowed votes to submit or support a proposal. This challenges the base assumption of token incentives that voting power is proportional to price exposure.
Let's give OZ time to audit the code changes, this is what we're paying them for :) Thanks to Equilibria team for their work, look forward to supporting this proposal in the future!
https://www.monetsupply.xyz/https://pbs.twimg.com/profile_images/1429662679325503492/5F9BZlgf_400x400.jpgmonet_supply#4662eth.ens.delegatehttps://discuss.ens.domains/t/ens-dao-delegate-applications/815/742?u=monet-supply
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