Dumas covered MakerDAO revenue analysis during the surplus buffer debates, then Chronicle Labs where the oracle stack secures $5B+ of Maker/Sky collateral. Graph Council picks him up as Horizon Mainnet rolls out Q1 2026, with query volume down 15.9% QoQ and indexer unit economics decoupling from the 15,087 active subgraphs. GRT issuance math has to account for Base flipping Ethereum as the dominant query chain — having someone with Maker-grade scar tissue on collateral rebalancing is overdue.

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