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Helping the average John guy understand the Defi space: stablecoins and Maker edition
We do not need centralized stablecoins at all, DAI is the *perfect* stable, and it yields 8% risk free via the DSR. As a community, we should just DROP USDT, USDC, and (pyUSD). Let DAI reign supreme
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>As of April 2021, the DSR has a 0% APY (Annual Percentage Yield). Isn't DSR around 8% currently via spark protocol and aave? https://blockworks.co/news/dai-savings-rate-us Other than thay, this is really informative post for the ones not familiar with MKR and DAI Great job
It’s a smart and generous way to use the DAI reserves and the DSR yield to support the core Ethereum developers who are working hard to improve the network. This will benefit both Polygon and Ethereum in the long term and hopefully the whole crypto ecosystem
tldr; Polygon Labs has announced a plan to fund Ethereum core developers by earning DSR yield. The initiative involves depositing DAI reserves into Maker's DSR using Spark Protocol's sDAI to generate yield. All yield earned will be donated to the Protocol Guild, which consists of 152 Ethereum core developers. The goal is to generate an additional $4 million per year for the guild. This initiative by Polygon Labs demonstrates their commitment to Ethereum and aims to provide sustainable funding for core Ethereum development. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
**well, most of the time, the APY /yield/reward is subject to taking on some additional risk, which can come in many forms.** **BUT, especially for DAI holders there are cases when there are absolutely ZERO additional risk (read into MakerDao' spark protocol, aka Dai Savings Rate to understand)** **so, yes, if you hold DAI and are not taking advantage of the DSR via** [**the spark protocol DSR 8%**](https://stakingreview.com/spark) **you are absolutely losing out on a risk free return**
the MKR buyback was partial funded/enabled by the DAI growth/promotion and the weird Spark-DSR promotion the RWA introduces some very unique risks, but MakerDAO lost the thread when they encouraged MKR as collateral
me too. The problem is that its a bank account and the account had her KYC. If it was me I would probably have bought DAI and simply earned the DSR for that period. Either that or money market fund so you can pay back the principle at any time.
tldr; The MakerDAO community has approved a temporary increase in the annual returns for depositing DAI stablecoin into the protocol, allowing users to earn an 8% yield on their holdings. This increase in interest rate earnings on DSR is enabled through Spark Protocol, but is not available to non-U.S. users or VPN-linked addresses. The total amount of DAI deposited in the DSR contract has increased by 75.7% since the activation of the Enhanced Dai Savings Rate (EDSR) proposal. The supply of DAI has also increased by $217 million. However, the temporary nature of the feature means that the rate will go back down once more users arrive. The initiative aims to allocate the increased stability fees earned by Maker from its Vault users. The stability fees and DSR are variable rates set by the MakerDAO governance. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
I see a lot of confusion and lack of understanding with regards to how MakerDAO works and how it has pivoted from a "decentralized" stable mostly backed by ETH and USDC. Most of the collateral used now is RWAs with US T-bills and some corporate bonds being chief among them. With the revenue generated by tokenized RWAs on MakerDAO's balance sheet, they've been buying DAI and MKR, pairing them in LP positions and burning the LP tokens. You can see the collateral list here: https://makerburn.com/#/rundown You can take a look at the buyback / burn process here: https://makerburn.com/#/buyback They're also redirecting some of the revenue to DAI holders via the DSR. The benefits are, RWA narrative is strong and with the Fed's recent rate hike and indications that we'll likely have high rates for longer, redirecting that revenue to the protocol and token holders in the form of DSR and buybacks has obviously worked well. MakerDAO is basically acting as Tether or Circle does for USDC and USDT issuance, but instead of private entities the revenue is directed towards the protocol and stakeholders. The cons are, you would expect rates going down and quantitative easing policies taking effect to be a catalyst for a proper crypto bull market, but these might cause the tokenized RWA narrative and the revenue to fizzle out. The other one is, obviously the regulatory risk associated with using government debt and corporate bonds as collateral for an on chain stablecoin.
tldr; MakerDAO is implementing an Enhanced DAI Savings Rate (EDSR) to boost demand for its $4.6 billion DAI stablecoin. The EDSR will temporarily increase the interest rate for DAI holders to as high as 8%. This move comes as the circulation of Maker's stablecoin has decreased by a third in the past year. The broader stablecoin market has also seen a decline in value. MakerDAO aims to generate sustainable growth by offering higher returns to DAI holders and attracting new demand and capital inflows. The EDSR rate will be determined based on deposits in the DSR facility and will decrease over time as usage increases. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Decentralized finance (DeFi) protocol MakerDAO increased its DAI savings rate (DSR) to 1% in December 2022. The move led to over 35 million DAI being deposited within a month, as per MakerDAO. Now, a new proposal to increase the DSR to 3.33% is under discussion. The proposal was put forth by risk management firm Block Analitica […] The post MakerDAO looks to increase DAI savings rate by 233% to 3.3% appeared first on CryptoSlate. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Do you still remember what those acronyms mean? AA - Auto Answer OH - Off Hook DTR - Data Transfer Ready DSR - Data Set Ready CTS - Clear To Send TXD - Transmitting Data RXD - Receiving Data CORR - Correction on CMPR - Compression on FAX - obviously FAX.
How do you DSR? I need to do that for my GME and AMC
tldr; The Bank for International Settlements (BIS) examined the inner workings of decentralized finance (DeFi) and created the DeFi Stack Reference (DSR) model to highlight the capabilities of the technology, as well as the dangers associated with it. The model separates DeFi into three levels: the interface, the application, and the settlement. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Bank for International Settlements (BIS) examined the inner workings of decentralized finance (DeFi) and created the DeFi Stack Reference (DSR) model to highlight the capabilities of the technology, as well as the dangers . Government should understand and use the potential of crypto . Good one.
MakerDAO is turning the DSR on to compensate for that.
I don't *know*, and that's kinda the problem itself, because it's a self fulfilling prophecy. With Dai for example, I know *exactly* what will happen if it loses its peg and selling overcomes the arbitrageurs - liquidations will occur, then the DAO will play with the DSR, then if these fail, auto-minting MKR is the final backstop to stop the bleeding. There's *certainty* in this mechanism because it's all in verifiable code. There's an amount of *uncertainty* with UST because there's actors whose decisions impact the tokenomics pretty significantly. Compound it with knowledge-disparity (newer protocol, less battle tested, less known) and people may lose confidence even if the loss in confidence is ultimately unfounded.
I got shillled CKB earlier in the summer, DSR and it's now my biggest hodl with a 3x currently so I'd say feel free to listen but definitely put some research of your own into it first.
tldr; China's digital currency, the Digital Silk Road (DSR), is an essential component of China’s global infrastructure plan, the Belt and Road Initiative (BRI), announced in 2013. China sees the digital yuan as a solution to this problem as well as a way to mutually reinforce the reach of both BRI and DSR projects. The more countries see the benefits of settling accounts in yuan, the greater the network effect in further expanding the orbit of Chinese economic influence. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I don’t think they are my friends. I’m telling you 100$ with DSR to a wallet isn’t 40$ on Coinbase lmfao