/biz/ - Business & Finance

DMG.
http://defimoneymarket.com/

Public sale takes place Monday 22nd June at 9am (no whitelist/kyc, just buy on dex for ETH, DAI, or USDC). Price starts at $0.36 and increases 1.5% per every 500K sold ending at $0.57.
Currently trading on DEXs at $0.70 (presalers sold some) in anticipation for the public sale being a complete sell out.

It's a defi DAO product collaborating closely with top names in the defi space to introduce a defi take on a money market, providing high consistent interest for crypto holders and providing off-chain liquidity to consumers and companies. Stake your ETH, DAI, or USDC (Coinbase listed as a partner already) and get 6.25% interest.

DMG is the governance token. Holders get to decide the fate of the DAO and get to earn the excess revenue (the money market earns 10-15% on the liquidity loans it offers and DMG holders get the remainder after the 6.25% is paid out). Holding DMG also gives the holder a stake in deciding which assets to grant liquidity to and therefore appeals to institutional investors.

There are 250MM DMG tokens, but only 25MM are being distributed in the sale. Coingecko have confirmed it will list with a circulating supply of just 25MM. That means a $100M market cap is $4. It's currently $0.70 or if you get lucky in the public sale it's $0.36.

With close partnership with Chainlink and future engagement with Coinbase and Huboi, as well as a confirmed investment from Tim Draper (https://drapergorenholm.com/blog/portfolio/defi-money-market)), it's likely this will take-off and become the fully fledged money market it plans to be, likely to then far exceed $100M market cap.

Further reading/watching:
https://defimoneymarket.com/DMM-Ecosystem.pdf
https://medium.com/dmm-dao
https://docs.chain.link/docs/defi-money-market-chainlink-ethereum-mainnet
https://www.youtube.com/watch?v=iYbWxAm7NuU [Embed]
https://www.youtube.com/watch?v=pHsBvMVqVxM [Embed]
https://uniswap.info/token/0xed91879919b71bb6905f23af0a68d231ecf87b14