You are now aware of how popular the Dai Savings Rate will be

[Anonymous No.17474136]

The economy is crashing. Everyone is going to want a guaranteed 8% interest

[Anonymous No.17474409]

>>17474136
How many to make it? How many for a suicide stack?

[Anonymous No.17474426]

>>17474409
10000 Dai suicide stack

[Anonymous No.17474458]

>>17474136
Or this.

[Anonymous No.17474510]

>>17474409
10 maker

[Anonymous No.17474719]

>>17474136
What a piece of shit this is

[Anonymous No.17474780]

>>17474136
They showed this on the news in Denmark. The dev is from here or something and has released a Visa card too.

[Anonymous No.17474904]

Quick rundown, how does this shit work, why would I have 8% interests?

[Anonymous No.17474920]

>>17474904
>he doesnt know
we are still early anons

[Anonymous No.17474924]

>>17474136
NO LIQUIDITY
but yeah it’s a buy If you can find a way to sell it.

[Anonymous No.17474966]

>>17474904
Hold for a year and get 8% interest.

>>17474920
It’s a stable coin like tether. It doesn’t moon. I gut be good for the recession but only if crypto also gets hit

[Anonymous No.17475287]

>>17474966
How is that sustainable? Where do these 8% come from?

[Anonymous No.17475290]

>>17474904
You buy dai and create a smart contract that has an 8% interest accrual rate. That is, in 1 year you are guaranteed to have 108% of what you put in.

Dai is minted when a collateral debt position is taken. People lock ETH/BAT/future voted in eth coins, and receive ~55%(relative to your liquidity rate) in the dai stablecoin. You can use this dai to further invest or cash out for usd.

Shopify just integrated Dai so all of e commerce will be using it soon.(why keep your money in usd when you can easily invest dai for 8% interest accrual.

It is a shame that /biz/ can’t understand Maker and Dai. This place will only realize the opportunity it when chainlink is voted in as allowable collateral, and everyone can lock it up and buy more.

[Anonymous No.17475368]

>>17475290
Interesting. What happens when someone wants to get his collateral back? Does he have to pay a dai fee that then gets burnt?

[Anonymous No.17475372]

>>17475287
Closing a loan position results in a stability fee of 8%. Also there is a liquidation fee if your collateral goes below your liquidity rate Maker has to sell. This fee is used to burn Maker thus increasing the value of all other Maker.

[Anonymous No.17475405]

>>17475372
Ok got it, I was gonna ask what was the point of the Maker coin.

[Anonymous No.17475528]

>>17475368
Exactly. You pay back the dai you borrowed, a stability fee is taken out and used to burn Maker. So really Maker has two things going for it. The stability and trust of Dai, and this collateral debt position mechanism.

[Anonymous No.17475539]

>>17474136
He said while RSR breached new ATHs.

[Anonymous No.17475590]

>>17475528
Pretty smart and not that complicated in theory, why is it not more popular, it's basically a (basic) automated bank.

[Anonymous No.17475591]

>>17474136
What is the point of the MKR token? I can’t even mint DAI with it on Oasis.

[Anonymous No.17475619]

>>17475591
It's how all the fees are paid and then MKR is then burned.

1%+ per year currently burned and there are only 1m tokens so it's a supply and demand play.

[Anonymous No.17475693]

>>17475368
https://www.youtube.com/watch?v=J9q8hkyy8oM
Video is old so it doesnt include using BAT as collateral. Also bear in mind, people who have generated dai are paying interest on their dai. So its balance of dai "borrowers" paying interest and dai "savers" accruing interest. Its all about moving the market incentives to have more or less dai on market (ie supply), in order to shift the price accordingly.

Also something interesting i was thinking about the other day....
Now that dai has a decent track record of being worth $1, there are probably people who now buy up dai when its at ~$0.98 or sell dai en mass at ~$1.02. So theres arbitrage forces now helping to keep it pegged at $1 as well as the rates and their adjustments.

Its fascinating that, through math and market forces, maker has essentially become an independent decentralized federal reserve.

[Anonymous No.17475811]

>>17475590
Mainly because finance isn’t sexy.

I think people aren’t seeing how DeFi is the next wave in crypto. People are saying what DeFi will do for ETH is what email did for the internet.

I am with you that it is very surprising this hasn’t caught on, especially with how much Vitalik is praising it.

The Dai Savings rate should have been the lightbulb moment for crypto investors. You can’t guarantee an 8$ Interest rate in any real world financial institution.

I think the “aha moment” will be when /biz/‘s favorite crypto is allowable as collateral. The day that happens /biz/ will be littered with threads asking how to lock up their chainlink for dai.

[Anonymous No.17475866]

>>17475811
>I think the “aha moment” will be when /biz/‘s favorite crypto is allowable as collateral. The day that happens /biz/ will be littered with threads asking how to lock up their chainlink for dai.
Youre describing proof of stake m8

[Anonymous No.17475917]

>>17475693
>Its fascinating that, through math and market

You picked up the main selling point that bought me in. I thought this would strike a chord with /pol/ since they despise the fed but my threads never caught on. I wanted to make /pol/ and /biz/ feel like they were the new federal reserve but i couldn’t get any traction.

[Anonymous No.17475961]

>>17475866
Proof of stake doesn’t instantly double your holdings of a coin. With vaults and dai minting you can keep taking out debt positions until you’ve doubled your holdings.

[Anonymous No.17475968]

>>17475811
Biz will get excited when maker foundation finally bends the knee and admits their oracle system isn’t secure enough to manage billions in collateral and they have no choice but to implement chainlink. Or we’ll have a laugh when it refuses to bend the knee and collapses under the weight of its own hubris

[Anonymous No.17476060]

>>17475968
Show me someone who think chainlink is the only solution for crypto price oracles and I’ll show you a person who doesn’t understand uniswap

[Anonymous No.17476552]

>>17475917
>I thought this would strike a chord with /pol/ since they despise the fed but my threads never caught on. I wanted to make /pol/ and /biz/ feel like they were the new federal reserve but i couldn’t get any traction.
Not to sound pompous, but some people just dont have the mind for understanding all of the math and market dynamics that go into a system like maker. A lot of /pol/ probably just hates the fed because jews. Theyre not entirely wrong in that regard, but in order to understand how revolutionary this shit is youd need to fully understand the groundbreaking implications. Not everyone will be able to wrap their head around it enough to get to that "aha" moment like you or i had.

[Anonymous No.17476630]

>>17475811
>I think the “aha moment” will be when /biz/‘s favorite crypto is allowable as collateral. The day that happens /biz/ will be littered with threads asking how to lock up their chainlink for dai.
Might as well ask you now since that's what I'm waiting for. There's no way I'm liquidating my current LINK stack for an 8% increase yearly. I wonder how it'd work with the volatility of the collateral, is it just automatically adjusted each payout? When is it anyway? Monthly? Daily?

[Anonymous No.17476670]

>>17476630
Looks like it's daily. Where'd you get the 8% from anyway? https://blog.makerdao.com/an-update-on-the-dai-savings-rate-in-multi-collateral-dai/

[Anonymous No.17476702]

>>17476060
This is the most smooth brain shit I’ve heard all day

[Anonymous No.17476997]

>>17475968
You are in for a rude awakening. In today's governance call we discussed dominating the oracle service market with our new white listed oracles. Maker oracles are responsible for 750M. How much is cucklink responsible for? We are going to use the proceeds from the oracles to burn even more MKR. Remember this post.
https://pastebin.com/HAci1Ge3

[Anonymous No.17477030]

>>17474458
> they don’t know rune controls a voting majority by himself

[Anonymous No.17477052]

>>17474780
Rune is not the developer, Rain is. Rune shafted Rain but Rain dgaf because he’s too busy slaying all over europe

[Anonymous No.17477137]

>>17477030
>>17477052
The purple pillers got shafted because they sold all of their MKR while Rune held. It's Rune's project now.

[Anonymous No.17477177]

>>17477137
Wtf are purple pillars

[Anonymous No.17477229]

>>17477177
https://www.coindesk.com/darkest-days-yet-purple-pill-tell-all-details-years-long-rift-at-heart-of-makerdao-stablecoin-project

[Anonymous No.17477336]

>>17477229
LOL now I get it

[Anonymous No.17478388]

>>17476552
Can you recommend any reading? What I've seen in this thread is over my head.

[Anonymous No.17478419]

>>17478388
Tldr maker/dai is now a centralized project because one entity controls 90% of the nodes. In essence, Dai is currency issued by a central bank with a single policy maker at thia time. Which renders it pointless and vulnerable.

[Anonymous No.17478461]

>>17478419
Hmm. OK. I think I need to lurkmoar and eventually I'll understand these things.

[Anonymous No.17478467]

>>17478388
https://github.com/makerdao/awesome-makerdao

>>17478419
You have no idea what you're talking about. Nodes?

[Anonymous No.17478489]

>>17478461
You won't understand defi or defi drama if you lurk biz. Digging into social media of the respective defi projects you want to learn about is a better starting point.