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17106327 No.17106327 [Reply] [Original]

The other thread was taken over by synthetix morons.

https://makerburn.com/#/

$135m paying 9% APR currently. Those fees are paid in MKR that is burned. Pretty easy to see the tokenomics and where this is headed.

>> No.17106415

>>17106327
https://medium.com/@atvanguard/zkdai-private-dai-transactions-on-ethereum-using-zk-snarks-9e3ef4676e22

Private DAI

>> No.17106416

>>17106327
>https://makerburn.com/#/
That is pretty sweet. I have one maker now. How many does it take to make it?

>> No.17106459

>>17106327
The other thread was taken over by people calling you out for shilling: >>17104260

>>17106416
Nice try, boomer.

Get out while you can.

>> No.17106484

>>17106327
I wish I could be there the exact moment rune realizes he surrounded himself with idiots, maybe it will be when rain appears on a white stallion surrounded by his former 6sigma IQ army
even zuck is pretending to have rain on his team LOL

>> No.17106705

>>17106484
What is the fundamental flaw in the system that he made?

>>17106459
I didn't make that thread, what's your issue though? I can talk technicals and FA

>> No.17106744

>>17106484
>>17106459
Waiting on a response. If I had to guess you were all three people talking to themself in the last thread.

>> No.17106779

>>17106484
AFAICT the fundamental flaw is that they gave rune the keys before they added the parts that actually make it decentralized. rain and his team refuse to give any hints about what they are doing next. It is impossible to figure out wtf is going on from either side.

>> No.17106830

>>17106779
If you are adding onto an existing contract or upgrading one you either have to deploy new contracts or give someone the keys.

He has talked a lot about what would make MKR feature complete and until that has happened someone has to upgrade the contract which requires access to it.

As for what they are doing next is adding more assets and cross chain support. Which means someone needs to hold the keys to do those upgrades.

Your concerns literally answer themselves.

>> No.17106851

>>17106830
you guys are gonna get blindsided, I've got my popcorn ready

>> No.17106856

>>17106851
Right, by what? You seem schizo and if you can post anything real then please do.

>> No.17106863

>>17106830
you need the keys only to add the parts that you want but not to add the parts that rain wants
see, it explains itself

>> No.17106870

>>17106856
>>17106830
rain needs the keys to add the parts that rain wants and rune needs the keys to add the parts that rune wants
haha

>> No.17106874

>>17106327
Maker needs to add Chainlink for CDPs to see the growth youre looking for OP. Aave has 1,000,000 Link locked up and is 1/3rd of the platform's liquidity because the community is much more aware of DeFi. BATs community doesnt follow DeFi and you see only a modest amount locked up.

>> No.17106878

>>17106863
So you are worried that the team isn't doing enough or that something that someone asked for didn't get added?

Have you followed ETH or BTC development? Less then 10% of submissions actually get added to the codebase. All projects have leads and gatekeepers that decide what goes into the repo/contract.

>> No.17106898

>>17106874
Yeah, I believe that they said that they will have a round of voting soon where people can submit any ERC-20. They literally used BAT because it's a small MC and they can field test it.

>> No.17106922

>>17106870
KAVA is a fork on another chain with an unaffiliated team so if the MKR team is holding it back then they will take the top spot soon enough.

Either way the idea and economics/tokenomics are sound and just steadily gaining traction.

>> No.17106982

>>17106863
Rain vs Rune, interesting narrative.

>>17106874
I think it's more likely they will use something like Uniswap for feeds, however I don't see how it is possible for them to remove the need for a collateral approval process. However I didn't think reliable on-chain feeds were possible either until Uniswap, so who knows.

>>17106878
I'm kind of worried that they won't vote to remove the need for voting. They are already trying to sustain the narrative that the original design is flawed and requires voting to set rates, but I don't think they realize they are not a central bank that can do private transactions and have privileged info about member bank cashflows. So the market can always outpace them and they end up pushing on a wet rope trying to stay solvent. They can only compete on how *little* power they have, which might be a hard pill for MKR holders to swallow given the current governance structure.

OP is obviously fishing for hints though, maybe they realize they painted themself into a corner.

>> No.17107018

>>17106327
For me it’s Synthetix

>> No.17107047

>>17106982
You are confusing actual for profit bank cashflows with rate setting to maintain a peg. I'm not painted into a corner there is just no actual rational thought behind the common FUD.

There aren't central banks and member banks and need to tend to member banks. There is a single pegged asset created with collateral and you use rates to change consumer behavior. Asset Issuing Body =/= Bank

Arguing policy when you haven't had failure or even near signs of it is a literal waste of time.

>> No.17107071

>>17107018
How would a system like that work until you can run your own node and manually connect it to another one so that you are broadcasting directly to who you are settling with rather than a third party?

>> No.17107100

>>17107047
>Arguing policy when you haven't had failure or even near signs of it is a literal waste of time.

You misinterpreted what I said, but you're right about this part. Good luck. For what it's worth I think everyone long MKR right now will have make tons of money before any of these theoretical failure modes appear. That's all that matters anyway ;0

>> No.17107157

>>17106982
>I think it's more likely they will use something like Uniswap for feeds, however I don't see how it is possible for them to remove the need for a collateral approval process. However I didn't think reliable on-chain feeds were possible either until Uniswap, so who knows.

Uniswap is really easy to manipulate.

>> No.17107246

>>17106415
How will ((they)) prevent Ethereum from taking over banking and replacing bitcoin?

>> No.17107258

>>17106415
Private DAI + DAIhard = hoooollyy fuckingshit.

>> No.17107268
File: 3 KB, 225x225, 7484874.png [View same] [iqdb] [saucenao] [google]
17107268

wtf everyone here can see that you came from reddit guys. not gonna tell you why, just telling you that here is none of your target audience.
we here at biz believe in tether

>> No.17107292

>>17107100
OP here, not sure if my ID will change. Yeah I think that it can fail for sure. I just think for any standard investment horizon it's going to be sound. Really if there was a voting failure tomorrow and the rate was locked at 9% forever it would probably cause the project to collapse.

I'm not married to any project or protocol this early in the game. ETH looks promising and MKR functions well currently.

>> No.17108034

>>17107071
You settle against a smart contract, there is nothing p2p about it

>> No.17108082

>>17107246
Simple change ETH to PoS
Newfags will not understand this, mETH 2.0 can't replace BTC. Even mETH in its current form it could be argued.
Butthurt incoming