/biz/ - Business & Finance

The “Coinbase partnership” they claim on their website is silly. This is how easy it is to become a coinbase partner: https://www.coinbase.com/partners

It’s like people saying they are partnered with Amazon Web Services, it’s an incredibly low bar. I would not assume because they put that icon on their website they have any material connection to Coinbase or potential to be listed there.

I also find it interesting that two of the partners listed don’t mention DMM in their linked-in profiles and that their marketing consultant partner is a sophomore computer science student with no previous work experience.

It does appear to be true that Draper-Goren-Holm is an investor since DMM appears in their portfolio. Maybe a healthy cut of pre-sale DMG tokens motivated them to overlook any flaws, but that’s purely speculative.

This reminds me of the time ELEC/Electrify.asia secured TEPCO as an investor. That gave me a great sense of confidence in the project and then it turned out to be an absolute turd sandwich with no intention of ever giving the token any real utility. ELEC basically just used the funds to develop their business and put the token in the trash.

Bonus goodies.

What the hell kind of white paper only has ONE reference in the appendix? It is so lazily drafted, the technical report I wrote in 6 hours this week looks way better.

Corey Caplan is listed as a "Parnter" not a Partner.

The legal doc link made me giggle: https://defimoneymarket.com/static/media/DMM-Disclamier.6847e1f9.pdf

"the information provided on this Website is for information purposes only"

"The Website is not, and should not be: (i) deemed to be an offer of, or invitation to engage in any investment activity" Sure dude. Definitely not.

Shut up jew

Interesting find OP,
I Have attached an Image of VIN 700719

I would like to see if anyone can explain this as you have made some interesting points

DIDN'T READ; NEVER SELLING

dmm is scam

>>19841264
>>19841274
>>19841280
Nice investigation work, anon. But you won't be able to convice the pajeets who gobbled up this thing without thinking. Let them witness reality from their own burn scars when it inevitably pulls an exit scam in a few weeks. Will be glorious

>>19841333
He literally just copied the contents of a reddit comment and pasted them here

>>19841264
>https://ipfs.io/ipfs/QmQKiD6TcwqcWqPv1sjytCUVA63xPfufRo5UQqNSU9hVRY

>>19841361
"DMM Foundation" has clearly been poorly photoshopped there

Obvious fud campaign. 1000 % more bullish

>>19841356
Post the reddit thread

>>19841389
>Obvious fud campaign
You must be as fucking blind as a bat

This post has been put together with a lot of valid points, Only an idiot would try and refute this with "MUH THIS FUD IS BULLISH"

Draper investing + CEO alone makes it very unlikely to be a scam.

I JUST SPENT 3000$ TO BUY ETH FOR THE SALE WTF HOW DO I KEEP FALLING FOR THESE SCAMS

>>19841437
>Draper investing + CEO alone makes it very unlikely to be a scam.

https://drapergorenholm.com/blog/draper-goren-holm-backs-6-25-earning-dmm-ethereum-digital-assets-backed-by-real-world-assets


Has Tim Draper, the guy who made billions investing in early stage companies decided to start partaking in scams to make a few million?

Does that check out logically to you, OP?

>>19841373
>>19841361
>It looks like Photoshop
>Scammmmm
Stay poor.

>>19841532
Hey there, I'm a professional graphic designer fluent in both Photoshop and Illustrator. I do this for a living.

That document has been photoshopped.

>>19841264
I planned to buy 20k DMG from public sale, but after researching the liens I am going to pass this scam

fuck off faggots

I'll prove it's photoshopped too,

Point one:
The Colour of the Black text on "DMM Foundation" is #000000
When the rest of the document appears in #919191

Point two:
"DMM Foundation appears to be written in Arial Black when the rest of the document looks like it's written in New Times Roman

Point Three:
The whole document is written in entirely in CAPS expect for "DMM Foundation" which features lowercase lettering

Wow so difficult to find this privileged information

tldr for redditors, you can't just post each person's individual loan documents for your investors to peruse. Who would have guessed?

>>19841618
>dmm organized a scam collaborated with Draper only to be brought down because they didnt realize they should change the font in documents they are allegedly passing as forgeries

reddit

>>19841361
also "DMM Foundation" was suppose to be all cap.

>>19841673
The absolute irony that you would say that when the only argument in favor of DMM here is "Tim Draper"

Should I remind you all that Tim Draper has invested in a number of massive shitcoins (pic related)?

https://medium.com/bottos/draper-dragon-digital-fund-invests-in-bottos-298ee295a72e

>>19841560
>>19841618
Can any of you explain to me why billionaire investor Tim Draper has decided to invest in a scam that 4channers could apparently detect?

>>19841782
See
>>19841782

>>19841782
See
>>19841737

>>19841737
Wow that article and picture sure do imply legal wrongdoing on the behalf of bottos, thereby bolstering your argument..

>>19841264
HAHAHAHA I KNEW IT WAS A SCAM

>>19841811
Oh wow project tanked during the crash like everything else

Who's the one swinging "muh draper" around?
Forget draper. even YOU are not stupid enough to make such obviously obvious photos hops. Youre literally just not entitled to see the unredacted liens.

Maybe go ask /r/lawyers

>>19841868
nobody cares because of the current DeFi craze
even some of the known biz pnd members i see in the biz discords are bringing up some legitimate FUD. Something feels off about this whole project.

>>19841862
> tanked during the crash like everything else
Have you seen chainlink?
Besides, you must be blind if you can't see that this shitcoin is dead with no signs of recovery.

>>19841811
Tim Draper made billions investing in early stage companies and crypto. Just because not all of his investments have worked out doesn’t mean he doesn’t have a massive edge and has done due diligence.

This is some weak tier fud for people realising they won’t be getting any easy sub 60 cent tokens in the public sale

>>19841928
Yeh, honestly I don't even really understand it too much, I bought off uniswap out of greed. After looking through the white paper, I still don't understand what they're trying to do with loans, or why some "wrapper" will return 6% or whatever the number is. I have a suicide stack of over 1000,I'll try to get more in the public sale, but honestly, it's just another shit coin to raise more money for chainlink, the only crypto I have anything more than a passing knowledge in.

Why are the fees the same on these documents despite fees changing each year?

Looks like they are all shoops desu

This one has a maturity date which expired 2 years ago

>>19842072
Some really weird things about this, anyone asked the team?

>>19842008
>This is some weak tier fud for people realising they won’t be getting any easy sub 60 cent tokens in the public sale

Theres 15 Million tokens being sold in the Public sale tomorrow..
There's only 25k USD in liquidity on Uniswap right now.. Theres going to be literally millions of these things floating around tomorrow.

Are you in their discord? I’d like to see them try and have an answer for all this fud

>>19841264
LMAO

It's a fucking example. You've been looking at examples the whole time. You fucking retard. Only poorfags think it's real. Buying DMG is literally funding the assets that we, as a money market nation, will purchase. DMG 10 USD EOY UNIRONICALLY

>>19842072
Yet again "DMM Foundation" is written in another font with Lowercase lettering

>>19842072
The document does not state that.

>>19842139
>The document does not state that.
Yes it does

>>19842139
It 100% does, this loan would not be generating interest in 2020.

>>19842072
Can anyone in this thread seriously look at this and all the other documents in this thread and say that the "DMM Foundation" typed in a different font, obviously in too much fidelity to have been scanned on the original document and where "Foundation" is the only word not capitalised in the whole document is NOT a photoshop (or even fucking MSPaint" edited document?

I had $20k ready to go on the public sale, but now i am probably not touching this.

>>19842126
NOOOOOO ITS ON ETHEREUM THAT MEANS IF YOU DIDNT GIVE US THE NAMES ADDRESSES SOCIAL SECURITY NUMBERS AND CREDIT SCORES OF THE CUSTOMERS OF YOUR PARTNERED 3RD PARTY ASSET MANAGEMENT SERVICES YOU ARE A SCAM !!!!!!!

>>19842139
are you blind

why the fuck are you guys saying it's photoshop look like ms-paint to me.

>>19842179
In all honesty the best answer is the people looking at those documents have never seen any such documents before and are probably jumping to conclusions about things they don’t understand.

Here is one they forgot to redact.

NFH Oregon LLC - no longer trading but linked to Finova Financial.

Here is a google cache version of their old site:

https://webcache.googleusercontent.com/search?q=cache:IMxjxhATGcwJ:https://www.finovafinancial.com/ratesandlegal

Continuing to dig

Their Florida Consumer Finance License number is / was: CF9901096

>>19842271
nah this shit is pretty clear mate

>>19842274
Nice find
Look into this
https://opencorpdata.com/us-or/126813690

>>19842274
Finova financial is ran by Gregory Keough. We know all this already. Not sure what you’re getting at here

>>19842155
>>19842233

Are you retarded? look at where it says "DMM Foundation". That is clearly a fake. I know you are just trying to protect your bags though it is understandable

>>19842349
Lmao, great digging /biz/. Of course you could also just google Gregory Keough and Finova comes up on the first page

>Go digging
>find accidental unredacted company
>owned by Greg

Wew you must be a really disappointed redditor right now

>>19842422
this looked like a shitty scam and here we are looking at the evidence. These retards own real world assets and are convincing NEETs to buy their low yield assets in return for Ethereum a high return asset.

BIZ IS FULL OF POOR RETARDS WILLING TO GIVE THEIR CRYPTO TO VC's

>>19842422

>a boomer dumped the shit wing of his business and wrapped it into a crypto to dump on ranjeets and millenials

That is what it looks like to me so far

>>19842456
Dude you don’t even understand the token you’re fussing. DMG token holders are not buying or investing in the auto loan assets.

It's all a scam guys. You should just stop with these crypto projects run by literal who's and invest in good ole, plain and simple, stocks.

Of course it is a scam, almost everything in crypto is right now (except for Constellation, Themis, Skycoin, TRX, maybe Chainlink and few others).

Still can make you money.

>>19841737
So you're saying that it's a scam but it's going to 10x?

Holy shit I'm in. What the fuck do I care if someone else gets stuck holding my bag post-moon?

Thanks biz! Buying more. https://medium.com/dmm-dao/billionaire-tim-drapers-venture-studio-purchases-stake-in-dmm-dao-2b75c2de5fed

KEK how is this still going. I can absolutely stomp on all the fudders in this thread instantly. Takes like 10 seconds max to find the proof. LMAO this has to be a FUD operation.

>>19842352
The documents are redacted. They don't exactly make a secret of this.

DxD also a scam?

>>19842507
You took more time and effort to write your post rather than actually dispelling fud, nice

This FUD is so weak. Good luck buying my bags at the top.

>>19842544
Nice tag
Don't even feel like telling desu. Sort of like this human dynamic thing going on. Like watching a bunch of opens argue about God not being real or not (God is real). Can't wait to see the shame as people start to realize DMM is 100% legit and they wasted 3 hours researching like good little cryptocurrency investors.

>>19842574
Disprove the FUD instead of calling it weak, otherwise you’re a pajeet

Gancor is a fucking retard

>>19842484
>Of course it is a scam, almost everything in crypto is right now (except for Constellation, Themis, Skycoin, TRX, maybe Chainlink and few others).
>except for TRX
>TRX
HAHAHAHAHAHAHAH
HAHAHAHAHAHAHAHHAHAHAHAHAHAHAH
HAHAHAHAHAHAHAHHAHAHAHAHAHAHAHHAHAHAHAHAHAHAH
HAHAHAHAHAHAHAHHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHHAHAHAHAHAHAHAH

>>19841264
we know. shut the fuck up about it for 48 hours so we can re-buy more under 50 cents.

>>19842586
What FUD are we disproving? What allegations are we looking to disprove exactly?

The loans were likely moved over from Finova, Gregory's previous company. DMM Foundation likely recently acquired the company that owns those loans, hence DMM being pasted over it. The loans are redacted. There are thousands of loans. One of them has a russian file name. I'm not sure what there is to disprove.

>>19842585
Satsgang is honestly the worst, you just accuse everyone of FUDing and never refute shit. Why the fuck wouldnt DMM be the most successful business in America? They offer higher returns than any hedge fund or bank and can apparently do so with low value auto loans?? Nigger if that was possible why the fuck would they be getting into crypto and why the fuck would they need to raise money?

>>19842586
Those who know, don't say anything. Just let them squirm.

>>19841264
>https://explorer.defimoneymarket.com/
This is such a joke - how is DEFI a bunch of shitty loans on shitty cars.....? this is dumb. just invest in real projects like REN, etc. This is not another Compound... FFS

>>19842622
Prove that this isn't an elaborate scam to move real world poor performing assets into an organization that has no legal responsibility for its claims while still recouping the market value of every asset in your shit company. They're literally getting paid for 8 million dollars of assets they owned in a previous company that are worthless and theyre convincing you that they'll get you 6.5% per year on these same assets when they are clearly not pulling that return in Finova.

This is just a way to exchange real world shitty assets for Ethereum from retards who dont understand how businesses work and how interest is earned.

>>19841264
Looks like Gregory basically copied a bunch of liens he had under his company previously and pretended they were assets of DMM.

He will exit scam.

Piece of shit token.

>>19841437
Dude, the CIA is enough for me.
It will clearly be used as a grey legal money laundering scheme

>>19842598

Timo is 5ft2 :D

>>19841501
>>19841782
>>19841501
>Tim Draper
Is an avid supporter of THERANOS, to this day.

>>19842668

DMG holders aren't investing in these assets. That would be the people buying the 6.25% yielding tokens. Where is your proof that Finova wasn't pulling that return?


>>19842676
Or DMM acquired a company he previously owned and he copy pasted DMM Foundation over the name of the company that originated/holds the loans

Who cares it's a scam. Just ride the wave

>>19841264
ARE U CURRY ? OK PAJJ BACK YOUR HOME

I’ve been saying it’s scam from start. But I’m pretty sure you were here shilling this project and now that you’ve sold you want to acknowledge it being a scam.

Thanks everyone just sold 100k

>>19842668
Just KEK this is fucking rich
Hilarious. Best thread on biz in at least a week.

Oh noooo no nooo nooooo
>They actually are below average intelligence lmaooooooo

Fuck it. In 3 says I will embarrass all fudsters in this thread. If you actually believe what you are saying that is, if you are trolling, please carry on.

It´s DeFi bullrun. Comp, Aave,Synthetix...and now it´s time for DNM. They will just ride along till bubble pops. And I will be the chauffeur.

Your foolishness is boolish. The most stupid pajeet in the history on 4chan. Go do proper research so you can escape the true poverty that starts from the mind. DMG will be bigger than COMP by far.

>>19841264
Hmm

Your foolishness is boolish. The most stupid pajeet in the history of 4chan. Go do proper research so you can escape the true poverty that starts from the mind. DMG will be bigger than COMP by far.

Poster is the example of what happens when poor people are given an opportunity to get paid well, they find reasons to mess it up for themselves. Poor people are like diseases such as poster. Never give them a chance, let them only see you at the top. Sensles and stupid post. Whether you buy DMM or not it's still going to fly. But sucks cause you are only fudding to buy, so I hope you loss all your money in the process of swiping a buy for DMM.

https://etherscan.io/token/0x3564ad35b9e95340e5ace2d6251dbfc76098669b

https://etherscan.io/address/0x4cb120dd1d33c9a3de8bc15620c7cd43418d77e2#tokentxns

You can literally look at actual interest being transferred into their mUSD tokens for the last 110 days. You can look at the code for the smart contracts.

>>19842911

t. Pradesh

>>19841264
>>19841264

Many people will be burned by this high level SCAM!!!!

So basically this DEFI project is made up of old loans on old shitcars in Florida? No way this is DEFI - just a dumping ground for shitty loans.... this has opened my eyes anons...

This is funny as fuck. They literally just copy+pasted DMM on old (even expired) loans and are pretending that they're getting money from it.

The only thing Chainlink does in this relationship is get the value of the cars from a car valuation API (blackbook). They do not upload any of the loan details; therefore, all the loans could be made up - all Chainlink does it provide car prices for the loans that are made up. This is genius lol

>So Mr Gregory Keough, you have quite the impressive resume here. You were a member of the CIA and received the Intelligence Star award, the only living person to hold this. You also were the CEO of a Mastercard joint venture recently. And then in 2020 you decided to commit fraud to make a couple million dollars, a fraction of your net worth.

Nope just doesn't check out.

It's a scam, I contacted Coinbase support, they said that shitcoin only use their wallet

That shitcoin made up their real assets, then sell shit to investors, Daper dumps on lebs like he did wit Bottos

just a fork of Compound, claim the valuation of 100 m. it's stupid

These are the reasons smart money keeping scooping all the buys.Real life linked to crypto.

https://www.consumeraffairs.com/finance/finova-financial.html?#sort=oldest&filter=none

177 reviews from customers of Finova Financial, broadly positive with a 4.5 average rating. Going back to 2016.

Again buying DMG is not buying these auto assets (that's the m tokens they're offering) but the car loans appear to be legit.

the fud is starting just before the private sale. You have to be a fucking retard to not see that someone or a group of wank dog whales are trying to induce a dump. Don't believe their lies

Daper gonna dump on those poor plebs

Fudders, how do you guys sleep at night? Don't worry, some of us understand how it feels like to sell prematurely, I feel your pains.

DMM and Compound ares the mechanism by which real world finance will be connected to crypto. Research the project in depth

>>19843841
By "real-world change" do you mean title loans on old Florida shitcars? wtf

ATTENTION: DMG IS NOT COMPOUND

>>19843423
you understand that customers being satisfied they were given loans is not an indication of the return the company made on those loans?

Do you people actually think that Greg was pulling 6.5% on his auto loans in Finova and just decided to let NEETs in on the passive income? if it was this fucking easy to use real world income generating assets to provide 6.5% to retail investors it would be the biggest financial services company in the world.

WAKE THE FUCK UP YOU MORONS. WHERE CAN YOU GET 6.5% ON ANYTHING??

Coordinated FUD = BULLISH kek

>>19843935
I have been shitting on this since private sale, I bought 1000 tokens so I dont have to kill myself if Im wrong but I just can't break down how any ecosystem like this can exist without insane administration costs.

what happens if the DAO just fails because of a lack of administration and bad loans? Then are tokens are worthless and DMG converted Finovas assets into some nice Ethereum before they all defaulted.

nothing is illegal about this its just shady

>>19843935
this. people seriously thing these fools have their best interests at heart llol We're in the middle of a defi run. get in or get rekt

>>19843899
>>19843900
>Crypto markets are rational. Your ass got left out in the cold during private sale and will ge the same treatment during public sale.

>>19843973
Read better, I already bought in the private sale just so I wont have to KMS if Im wrong.

>>19843935
This isn't coordinated FUD. This is just a repost from Reddit.

>>19841264 (OP)
>>19841264 (OP)

>Many people will be burned by this high level SCAM!!!!

>>19842456
VCS are total scum, read about early VCS who bought projects like SALT and Metal in pre-sale for pennies and dumped them on poor NEETs and ignorant boomers for $10+ a token with the aid of Teeka Scamwari hyping it.

Doesn’t matter if it’s a scam or not since biz already has huge presale bags that they’re gonna dump on the market after the public sale.

>>19844015
These people are happy Draper invested even though 85% of the coins he bought into went -99% because he dumped and all retail investors went broke.

I literally bought this shit as a precaution and just bring up the facts I can obviously see as sketchy and these retards just reply "coordinated fud" "stay poor" its all so tiresome.

>Private sale investors are happily dumping heavy bags to retail plebs for 5 times their capital. It was just 16 CENTS for private. Talk about a quick hit and go!

>>19844045
Draper probably has $1 million bucks at 5 cents a piece. Damn he's dumped every crypto investment he's got right off the blocks. Pretty savage

And public sale maxes out at 57 cents, while private sale investors are dumping at retail for 70 cents now. What cunts

Big dump incoming after the monday sale... too many tokens to hold...

>>19844116
its only 8 million dollars of assets why the fuck is biz trying to pump its market cap?

who the fuck is going to lead the DAO to success if biz owns the governance tokens?

>>19844116
how does it max out?

>>19844095
>>19844116>>19841264


Oh yes pajeets buying now at over 60 cents. Tomorrow sale starts at 36 cents.
DMG team continues to have future tokens for sale. 75 million more tokens. How's that for retail abuse. Private sale investors laughing their way selling to pajeets at 6x with many tokens, 100 thousands, 200 thousands tokens

ohhh somneone got to the reality that they wont be getting this for 0.3 so they fudding how cute fuck noff now it will be 3 bucks per token a week from now

75 milion tokens at 57 cents and it could be higher!! It comes up to another $50 milion dollars for team.. And they have many other tokens unlocking quickly. Biz oh biz you are forever fucked

>>19843002
Ding ding ding

>>19844200

30% will be sold in multiple different Public Token Sales over time.
>Once they are done selling the first 25 mil tokens, they got another 75 mil to sell to private and public, maybe at 5x difference in price again.
30% will be reserved to incentivize ecosystem developers, partners, and integrations with other protocols to ensure DMM is a vibrant growing and decentralized ecosystem.
40% will go to the DMM Foundation for continued development, support, and other general corporate purposes.
>More dumpage as they sell more tokens to fund their expensive dreams

Pajeets keeps buying at over 57 cents. Private can dump down to 20 cents and still be in profit.

>>19842016
>I still don't understand what they're trying to do with loans
No offense anon but the business model is boringly straightforward. Seriously, if you find that bit confusing I doubt you're going to have a fun time investing in shitcoins.

>>19842917
This.. you're all fucking morons. I'll buy your bags in a fucking heartbeat. Believe the fud bitches.

>>19844107
So he has 20 million tokens or 80% of the circulating supply post sale?

>>19844362
Just be ready for way more tokens to be sold. This is just the beginning.. Any buy price above 50 cents is just stupid. Long term it will easily be back down at private sale price of 60 cents

Correction it's 16 cents*>>19844391

Sold. I’ll buy buck in on the dump and don’t say it won’t I know you Jews will flood uniswap as soon as the public sale ends

>>19844306
please do, enjoy 40% of the supply dumped on your dumbass as they recoup their 8 million in shit assets

>>19844288
We buy fake loans in exchange a fake governance token, that does nothing except cast a vote in a non existent system. The question is what do (((they))) really do with a higher DMG token. Sounds like a scam.

>>19844578
>Or we are financing a government operation

>>19844578
This guy gets it.

why do you want to govern a platform thats assets were provided by the team? They just need to recoup the asset value in order to wash their hands of the DAO. Why the fuck would they waste their time administrating profits to NEETS?

DELUSIONAL BIZ POSTERS BTFO BY PEOPLE WHO UNDERSTAND FINANCE.

>>19844562
Recoup 8 milion? That's a piece of cake. 75 milion more tokens after tomorrow to be sold. That's a staggering 50 milion dollars

>>19842126
>>19842585
>>19842507
>>19842635
>>19842635
you shouldn't put more money than you have in dubious erc tokens.

Yesss FUD more that's more coinerinos for me

The jig is up. Dump your bags now before people realize what's going on.

>>19844625
Exactly, why the fuck would they not abandon the DAO once they've got their nut?

They dont need to guide your bullshit DAO to make NEETs money.

>>19841565
>20k DMG

that would have been hard to do considering the min buy in was 25 eth and by the 3rd day it was 50 eth.

>>19844180
private sale buyer here. bought 175,000. not gonna lie, i sold 75K at 85 cents in the hopes of getting back in around 50. if not, no biggie.

100k is riding to $10+ tho and staking.

big holders aint gonna sell. i only swing cuz i did it with LINK twice and now have more money than i will ever need. this will run HUGE in the coming months.

good luck!

>>19845043
he said public sale you delusional bagholder

>>19841274
So they're doing what Chainlink did?

>>19841264
just bought 1000 more anon thanks for filling my orders

Congrats OP. Team is going to write a response to this here.

>>19845390
what do you mean?

>>19845401
Corey just posted on Telegram acknowledging the thread. He will be posting a long response both on Telegram and here on 4chan.

>>19845390
>devs responding to /biz/ bait
I feel bearish about this now

>>19845408
if this is true you know they are SWEATING

>>19844578
>a fake governance token, that does nothing except cast a vote
1.Profits exceeding the saving rate are distributed to DMG holders
2.Voting power is valuable in any organisation that has cashflow. Crypto voting tokens are only shit because crypto projects don't have real cashflow.
3.A decentralised governance system allows them to operate worldwide with less bureaucratic red tape

This isn't even good fud

where to buy this?

>>19844625
>50M
that’s also the money they raised for FINOVA in 2016.

>>19845491
HOW EXACTLY DOES IT EARN MORE THAN 6.5% A YEAR WITH NO EMPLOYEES WITH NO INCENTIVES?

IF I CANT GET 6.5% ON MY 2 MILLION DOLLAR PROPERTY WHY THE FUCK CAN THEY GET 6.5% ON AUTO LOANS?

I PAY A PROPERTY MANAGER WHO WORKS HIS ASS OFF TO GET ME MY 5% WHY THE FUCK IS THIS THING GOING TO GENERATE 6.5% WITHOUT ANY ADMINISTRATION?

>>19845491
Your entire premise falls under profits and cash flow. Show me the Car Loan details. Protip: you can’t.

>>19845637
Currently the only asset is auto secured loans

People borrow against their car as collateral and pay 10-30% interest

Look up Finova, it's been in existence for 4 years.

>>19845695
and look, theyre run by a pajeet and are the 9th lowest earner among their 10 competitors.

HOW THE FUCK IS THIS BULLISH?

>>19845792
Wrong company

>>19845831
is this really better? This fucking glow nigger could only get 3.4 million in revenue? COMP literally earns more than 4 million in PROFIT.

Finova hasnt had a customer review since May 2017 because they went out of business, how exactly will the DAO treat hte collateral from the loans? who is going to take the physical cars and sell them to pay off the loan? who is going to ensure that loans are made to clients with insurance? who is actually vetting any of this shit in the DAO? if the company with employees failed why the fuck would it work better with NO OVERSIGHT.

>>19845831
they only lasted 2 years before going out of business, why is this a good usecase for crypto?

>>19845888
https://www.consumeraffairs.com/finance/finova-financial.html

177 reviews since 2016, average review 4.5/5. Most recent October 2019.

>Comparing to COMP

Comp is currently at $900m market cap/ $3.6b vauation

DMG is currently at $18.75m market cap/$187m valuation and the scope of future revenue is much higher

>>19845909
Not out of business, still operational

https://finovafinancial.com/

>>19845949
why hasnt a single customer posted a review in 3 years if they are "operational"

>>19845973
wrong, see:
>>19845932

>>19845992
these are clearly fake reviews because I called the Finova financial phone line to apply and it hasnt been in service for over 18 months.

latest reviews from Oct. 2019...where are you searching pal?
https://www.consumeraffairs.com/finance/finova-financial.html

>>19846022
fantastic service, truly

>>19846097
bullish as fuck for finova and dmg investors

>>19846125
he cant be sued by a DAO though so why wouldnt he just default?

>>19846097
sounds like a based loan service desu. first lien on a vehicle that is worth a lot more than the money lent? yeah i'm thinking they make a fuckton of money

>>19846133
because he signed a lien and his car worth many more times than his loan will be seized

>>19846163
who will seize the car? one of the token holders?

how will they sell it?

how will the money get from fiat into the DAO?

>>19846097
kek

>>19846197
the lien is operated by a normal company

>>19846213
so its not decentralized at all and a third party is responsible for all of the revenues entering the DAO?

great another person to trust

>>19846213
So youre saying a virgin from the DMM discord is gonna come try to repossess this guy's car because he didn't pay a loan of $2500?

Good luck with that

>>19846263
you people are retarded. i'm not even going to explain how it works to you brainlets and decentralization axis. either get in or get left behind

>>19846318
how the fuck is this different than a 3rd party holding dividend stocks and sending the payments to the DAO?

>>19846372
That would be one possibility, but would be fairly pointless. Individuals can already easily buy stocks. The point of this is allowing individuals to invest in fixed income products that are not currently available to small individual investors. The auto collateralised loans already being used are one example, but aircraft leasing and mortgages are just a couple of others that come to mind.

>>19846677
people are getting wrapped up in automobiles. this is just a proof of concept. the real money as this anon is saying >>19846677 is in mortgages and aircraft leasing. all of these vehicles are already paid for so someone can't default, the 3rd party just goes and sells the vehicle. this 3rd party has years of records showing 10%+ returns on these loans so mETH holder can guarantee the 6.25% everything else goes to DMG. this is literally free money. its like investing in an ETF

>>19846771
it would be like investing in an ETF if they had no obligation to you as a holder.

The DAO has ZERO fiduciary responsibility to token holders.

>>19846837
yeah thats kind of the risk with any crypto project since it is currently a very low/no regulated market. ETH foundation has 0 fiduciary responsibility to token holders either

>>19847046
but the ETH foundation was created from thin air, the DMM dao is backed by people from Finova with a clear agenda.

Has this been explained, how "DMM Foundation" is notably added afterwards?

>SCAM!!

>>19847092
transferred liens from old company of Gregory to DMMF

>>19846254
>Centralization at the dirtbag level

>>19847092
when you fill the document manually? not gonna use the same font

I can't believe people are falling for the fud.
Lolollollollol
Lololollol

the answer

>>19847092
Looks like they either digitized a bunch of loans themselves or got images from whoever they purchased the loans from
Then they used a program to put DMM Foundation where the old company used to be

Does that explain it?

>>19847381
this addresses one small issue,

Why are expired loans listed?

How do they achieve efficiencies if all of the loans are maintained by DMM and its employees?

How do they get around foreign ownership of US assets and cashflows that go to China, Pakistan or North Korea?

>>19847381

This doesn't explain the fact that they have a bunch of loans that have reached maturation still listed as "Active"

And without the paperwork to back up that they did purchase the loans from another loan provider we are just taking them at their word. Which in crypto is worthless.

>>19847381
>industry standard to not share info
>compares itself to JP Morgan
You guys do know there are banking regulators for institutional finance that do review their books. Who reviews DMG books?

>>19845888
My dude, it really undermines your critical analysis when you can't even find the correct company

>>19846837
>The DAO has ZERO fiduciary responsibility to token holders
The DAO is the token holders, genius.

>>19847502
bruh you know I posted that for the meme right?

Valuations of the used cars seem to be off.
Some are 2x market value if you search for similar models on used car sites.
Granted KBB value may be different
But recent Hertz bankruptcy puts more pressure on 2ndhand car market.

valuation would've been at the time the lien was given, not current running valuation surely.

The whole website is a teaser

>>19847550
>28 posts of fud
>I was just meming
Ok anon whatever you say

>>19847850
how many times do I have to say I bought in the private sale?

Due diligence is fuding your own project and seeing what sticks.

>>19847837
weakest fud is weakest

Congratulations anons.
>unloads bags + law suits.

>>19844288
>>19845491
>>19847502
>>19847528
>>19847850
/thread

Here's the full answer

>>19842668
>>19842676
this is very likely

>>19842668
If this is true, CL must vet the companies they closely work with. It’s very sloppy and scams hurt the network for the long run. Celsius (Jessica) and now DMG. I think you’re onto something.

The shitty fud is so bullish


Lol

>>19849117


Legit response the team
Corey just destroyed fudders with a single post hahahahahaha

>>19849426
Must be very gullible if you think that dispels the FUD desu

>>19849426
Absolute brainlet he missed the point.

>>19849426
He missed the point dumbass. How gullible can DMG buyers be lol

>>19842825
Zero counter arguments, thank you for your contribution

>>19843959
I asked about this too, didn't get a reply during private sale

>>19849758
how did you get in on the private sale?

>>19849117
>>19849426
He only explained the Photoshop part.
Suppose I have a car that I want to take out a loan on, who's going to evaluate my car's condition and quote me a price and interest rate? If that's done by another company what's stopping them from dumping toxic asset to the DAO or colluding with the borrower?

>>19849828
I'm LINK OG

HAHA I was going to buy this but had the feeling it was a scam when I started looking into the liens and saw the shitty font pasted on top

>>19850041
thank you, OG marine for your service

Why bother to Photoshop the liens instead simply redacting the information? They have
intentionally tried to misrepresent the liens and mislead investors.

>>19850166
if they redacted it, everyone would've said that they had no claim to any of the liens. it's damned if you do, damned if you don't

>>19850041
I guess were all in this together fuding this piece of shit scam.

Yep. This is some garbage ass shit scam

>>19850211
Just till your public sale buys hit

>>19850265
I have analyzed this projects potential and it has been given a 90% chance to dump below presale price on June 22nd.

>>19850193
I mean they could show the lien transfer paperwork with redaction if necessary, instead of MS-painting their name on a bunch of liens where they don't belong.

>>19850302
Agree with this analysis. If you're buying the public sale, you will be bagholding

Car loan companies are doing successful business since 5 years now. Fully regulated.
5 years ago Ethereum was launched.
Instead of using thin air arbitrage collateral that collapse in every crash ( remember March ? ), these guys using long term stable yielding real world assets supported by Link.
Beside that Dmm tokens are on Coinbase too and Ceo is a well respected person.
DMG is very important for our crypto space.
The first time crypto will be connected to the real world economy.
We all should be thankful if we really believe in the crypto space.

>>19850193
I would have preferred if they were honest rather than altering the documents.

Also notice in their response they write "may appear to be photoshopped". The choice of language there was deliberately vague to neither confirm nor deny that they have in fact been photoshopped (even after being caught red handed).

>>19850399
agreed. the language they used is suspect. and the questions on how they'll deal with repossessing the cars in case of default etc has not been addressed.

>>19850364
agreed!

>>19850384
go back to Pakistan Rajesh.

Everything is well explained in the feedback by Admin.
And the 4chain question were solid and important.
Great job by 4chan and DMG team.

>>19849117
Where to buy this coin?

>>19847837
cause for concern eh

The /biz/ faggots like sept, gorgias, etc are quick to call people bringing legitimate questions trannies and fudders. These niggers are heavily involved in other biz pnd discord groups. I don’t care wether or not it’s a scam, but you are going to get dumped on by biz guys with big presale bags. Be careful

>>19851197
thanks for the heads up. who are these other pnd scammers to watch out for?

Have they said anything about exchanges after the sale? How long does it normally take for idex to add a new token?

> went through the thread. this is going to hurt many people.. high level scam

>>19852206
the team's response has been adequate. in any case, ride the pump.

>>19841264

>30% will be sold in multiple different Public Token Sales over time.
>>Once they are done selling the first 25 mil tokens, they got another 75 mil to sell to private and public, maybe at 5x difference in price again.

>30% will be reserved to incentivize ecosystem developers, partners, and integrations with other protocols to ensure DMM is a vibrant growing and decentralized ecosystem.
>40% will go to the DMM Foundation for continued development, support, and other general corporate purposes.
>>More dumpage as they sell more tokens to fund their expensive dreams

>Pajeets keeps buying at over 57 cents public sale price. Private can dump down to 20 cents and still be in profit.

>Team selling another 75milion tokens public sale after this.. get liquidated pajeets!

>>19841501
This! I'll sell when Tim pulls out...

>>19852509
Is it true team selling another 75 million DMG tokens???!?!

>>19852863
yes.. Better get out... FUD above all seems real

>>19842351
I’m laughing so hard at you right now. You stupid faggot had to come down with the shill threads every min and people would have left you alone

What time tomorrow? 9 am EST?

>>19852844
Tim probably sold 75% of his holdings already, but it's cool.

DMG is gonna be a swinging boon and also a killer long term hold for when we eventually go $1-5 Trillion total cap.

It won't matter whether you got in under $1 or not soon.

>>19853054

sounds like a bagholding pajeet who bought above public sale price of 36 cents

>>19853054
I love that this thread single handedly caused the price to drop 20%

"Liens are the lifeblood of the DMM Ecosystem. They serve as the contractual document that grants the DAO ownership of the asset, should a borrower default on the loan. These liens are core to the DAO’s infrastructure and are very intricate documents. Liens are valid until the underlying loan is completely paid off. The reason why you see some that date back to 2016/17 relates to the core product being offered with these “car equity lines of credit” - that is, borrowers get a loan that’s secured by their vehicle. A prime use-case is using this financial instrument as a revolving line of credit. Think about it - you can borrow against the value in your vehicle, while still driving it. So there are some borrowers that pay down the loan to the last bit, and then reopen a new loan, reusing the same lien. This reduces processing costs and the time necessary to re-open this digital lien against the borrower’s vehicle."


1/2

"The loan servicer that works with these borrowers has been up and running for 5+ years, whose lifetime obviously extends beyond that of the DMM DAO. They signed off on the contractual rights to the lien, hence why the DMM Foundation is now listed on there. This is why the “DMM Foundation” may appear to be photoshopped onto the document - there is a contractual relationship with the DMMF and the loan servicers, that grant the DMMF ownership of the liens. Keep in mind, in traditional finance, loans are bought and sold by big banks many times. For example, a loan taken out with Santander may be bought by Wells Fargo and re-bundled and bought again by JP Morgan. Through all of that though, the loan is still stored at Santander, and the information is still confidential. The banks that buy and sell the loan simply own the right to it. Since we wanted to make the loan information behind DMM public, we’re breaking the normal flow of things by showing the document, however something we can’t break (at least not yet) is that we can’t publicly list the loan servicer with the loan information. In my example earlier, it would be like Santander putting out a Tweet saying “Hey everyone, JP Morgan currently holds this exact loan!”. The “DMM Foundation” added to the lien document represents the fact that DMM holds the rights to the loan, the same way JP Morgan can hold the rights to a loan serviced by Santander. We can see why this can cause confusion, it wasn’t something we had anticipated when we built the explorer, but we don’t regret sharing the info we have shared and we’re sharing all the details we can for now.

As the DAO grows and becomes increasingly decentralized, we’ll look for ways to pass off the contractual rights to the DAO instead of the DMMF. Nonetheless, we’re grateful for their willingness to work with us in pressing forward with bleeding-edge technology and a new way to do business!"

2/2

BASED

>>19853144
The one shill now is making new threads and also making slide threads

>>19842467
>a boomer dumped the shit wing of his business and wrapped it into a crypto to dump on ranjeets and millenials
/thread

>>19842668
>Prove that this isn't an elaborate scam to move real world poor performing assets into an organization that has no legal responsibility for its claims while still recouping the market value of every asset in your shit company. They're literally getting paid for 8 million dollars of assets they owned in a previous company that are worthless and theyre convincing you that they'll get you 6.5% per year on these same assets when they are clearly not pulling that return in Finova.
>This is just a way to exchange real world shitty assets for Ethereum from retards who dont understand how businesses work and how interest is earned.
/thread.

i was the first anon to call dmg a scam.

>>19853300
fuck this............ this is right

>>19851197
sept here and I agree this token is looking shaky to me. I do not recommend buying the public sale, you're right we bought the presale at $0.19. This is looking like a scam to me. Cheers bro good luck to you

Funny how the fud started the day before the public sale

it is clear for all to see how much scam this is

>>19853457
Have you never heard of the burden of proof fallacy? He's asking you to prove a negative while simultaneously spreading wild theories with no evidence of his own proving that he doesn't have a clue how simple car equity loans work

sorry spectre fags, you can't FUD this public sale from going any slower. thanks for buying my private sale bags. it'd be hilarious if i got back in under 45 cents.

4D FUD. Not falling for it. I just pray I can get in under like 50 cents tomorrow.

>>19841264 (OP)

30% will be sold in multiple different Public Token Sales over time.
Once they are done selling the first 25 mil tokens, they got another 75 mil to sell to private and public, maybe at 5x difference in price again.

30% will be reserved to incentivize ecosystem developers, partners, and integrations with other protocols to ensure DMM is a vibrant growing and decentralized ecosystem.
40% will go to the DMM Foundation for continued development, support, and other general corporate purposes.
>More dumpage as they sell more tokens to fund their expensive dreams

>Pajeets keeps buying at over 57 cents public sale price. Private can dump down to 20 cents and still be in profit.

>Team selling another 75milion tokens public sale after this.. get liquidated pajeets!

>>19854022
if you're really not a buyer for DMG in this range, and this isn't just you FUD'ing, then stay poor.

>>19853551

this x 1000000

>>19854435
right?

>thinking we're this new

>>19853551
Strange how that works.
Really strange actually

>>19855278
>so strange

Anyone else strangely having urges to sell USD and accumulate a financial future related to a bird?

>>19855508
I already did. Took some profit. Buying more on the public sale for a long termer. De-Fi is obviously gonna pick up speed and even a $50-100M marketcap is peanuts for what this could be.

Stupid, only few top Defi projects has cap over 50 mil. Draper will unload their seed bags on poor plebs

>>19841264
Is it too late ?

>>19845637
because you're a fucking fiat slug!

>>19845637
De-Fi, bro. De-Fi. No seriously, read the whitepaper again if you don't understand, then times the whole space's money capability by 50x, and you're in the market for what this could bring.

bumping

>>19846097
>>19846125
kek

So this is basically a complex pyramid scheme. i like it

All this FUD is mega bullish. This thread has been running for over 24 hours.

I'm gettin' MKR vibes.

>>19856668
It's not really FUD. They’ve offloaded auto loans from the ceos other company and they’re now using them as an ico to raise money. I don’t think it’s a scam, it’s just shady and it’s 100% auto loans right now which aren’t exactly money makers

>>19856805
I don't think you understand. These posts are clearly getting to you (which is funny because they're dogshit)

Their CEO is a literal CIA glowie who could (and will) snap his fingers and enter millions of capital into DMM and thusly rewarding DMG holders.

Anyone who falls for this and doesn't hold to a $1B cap in mere 24 month timeframes (a 25x or so depending on release) is VERY dumb and doesn't deserve to make it. Period.

>>19856945
>Their CEO is a literal CIA glowie who could (and will) snap his fingers and enter millions of capital into DMM and thusly rewarding DMG holders.

Oh yeah because every CIA agent (21,575)
can just snap their fingers and make anything happen almost like a magic genie in a lamp..

Fuck off that's the biggest load of BS I've heard so far

>>19856983
You must not believe in the power of clown world. Either way, it's the best spec buy in the space right now IMO.

Time will tell if you "coulda made it, AGAIN" or not.

$DXD anons

It will do all the governance. Don't miss it

>>19857400
At $80+ , the moonability is vastly limited IMO. Let the whales play their games while we become the whales in DMG with no slippage.

>>19857354
KEK

CRASH MY SHIT UP

INSUFFICIENT LIQUIDITY?!

MOONING ON UNISWAP

SEPPOKUUUUUUUUU

AAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHH

>>19858734
>MOONING ON UNISWAP
IT'S FUCKING CRASHING

DMG FUCKED EVERYONE AND THE TEAM DUMPED ALL THE TOKENS THEMSELVES ON UNISWAP BEFORE WE COULD

>>19859054
Kill yourself

what's going on with the uniswap and mesa sales? There's still nothing here.

Did this mesa shit exchange actually work for anyone? They didn't even get the usdc pair for their official page working and there's zero info about mesa. Anyone got orders filled?

>>19859074
haha. no they didn't.

USDC pair still not working. Team says it'll start at $0.36 when its up

>>19859226
>Team says it'll start at $0.36 when its up
Got a screenshot of their message?

devs watching people unable to buy dmg for 35 mins

>>19842534
lmao, no wtf look around man

>>19859198
Nope, none of my orders on Mesa has been filled. Not sure if Mesa is fubar.

USDC pair went thru.

>>19859241
It did indeed begin at $0.36. QUICKLY went to like $0.45 cents, now $0.53.

>>19859437
no one knows how mesa works apparently not even the mesa admins.
none of my 15 buy orders from 0.37 to 0.4 with USDC, DAI or WETH got filled.

>>19859632
So far nobody on Mesa has been filled..

What a load of BS

Got a mesa order filled now guys. 90k. No idea whether it's relevant, but I selected all orders, clicked cancel, and then rejected the cancellation.

DMG admins took their time removing a scam from their TG. Scammer got away with 50k. This project is a joke. Fuck the defi hype.

>>19859616
what wallet are you using?
Metamask showed error for me

>>19859722
wtf lol

Alright, my mesa order got filled. So those who have them, keep holding on.

>>19859722
You used USDC? At what price did you buy?

>>19859794
What price and with which coin, anon?

This all seems very stressful and I already got white hairs
Got 1k saudade stack on saturday at around 80c, I don't mind the markup. Especially because if some retards like me don't fall for the fomo, then the daytraders will stop peddling possibly interesting shitcoins here
Some people must be cucks so this place keeps on outputting valuable early info

>>19859836
Using WETH at 0.0018

This thread was proudly sponsored by the National Discord Tranny Association in collaboration with the Temple of Comfy.

>>19859800
>>19859836
I just went through with USDC on their official webpage, @0.38

>>19859889
>when the penis is more feminine than the hands

>>19859800
Yes, USDC. I had multiple orders in all over the price ranges. Using calc.exe , it was ~0.388 cent. No idea whether selecting all of my open orders and clicking cancel was necessary to refresh though. Maybe it was just chance.

hell yeah niggas my mesa orders just got filled at $0.39

>>19859932
based

I bought at 45c or so after 30 tries on the web page

it just looked like the Mesa order went through (a lot of DMG on the exchange wallet) but now it's back to the state before
Has anyone had the same?

>>19859932
So you just selected them all, clicked on cancel and the DMG were there?

>>19860070
Yeah. Could be a bug. But maybe it was just chance since >>19859946 now also had his order filled regularly.

>>19859946
Gz. Was just about to cancel everything and try buying up the entire orderbook on uniswap/mxc up to 90 cent. Kek.

>>19860193
What did you do after clicking on the cancel button?

>>19860210
Reject the metamask inquiry. Nothing else.

WTF MY ORDERS ON MESA JUST WENT THROUGH

>>19860235
I WAS SO DEVASTED AND NOW I SAW THAT MY 38 CENT ORDERS WENT THROUGH
FUCK YES

>>19859932
>>19859946
>>19860193
>>19860235
When did you place your orders?

>>19860301
19th

>>19860301
Yesterday then now I canceled and put new orders higher and my older orders just got filled

>>19860301
Yesterday evening the one which was filled. ~18-24 hours ago. I placed a total of 62 orders, too. No idea whether this increased my odds of "winning."

>>19860410
No idea, I placed mine on Saturday at $0.38 and still wasn't filled. Beats me why - maybe it's just a bit too low...

>>19860598
Placed mine this morning at 6 am. .39 filled for me.

>>19859932
Would be so funny if that's the reason I could buy at 0.38 cent
THANKS MAN

OH SHEE my order finally went through at $0.45. Guess it just clicked in 45 minutes later.

I'm fine with this price. Glad I didn't FOMO buy at $0.80 cents.

LETS GO BOYS.

damn this is the comfiest i've been in a long time. in b4 most of reddit and twitter. finally early for a long term hold.

literally 1500 holders
we're the new elite, biz

>>19861071
Yeah we literally are

Coingecko is live :

https://www.coingecko.com/en/coins/dmm-governance