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Dai

MakerDao is the company behind Dai, a stablecoin. One DAI is pegged to 1 USD.

Stablecoin

πŸ”‘ 67%

Reviews for Dai

πŸ”‘ 10 positive | πŸ’© 5 negative

πŸ”‘

The collateralized model (e.g. MKR, and not Tether) is fundamentally hard to argue against.

2018-05-21 | Full Review

πŸ’©

Maker and Dai. Dai users return capital to MKR owners through the burn mechanism. At this point, the value of MKR (the derivative) is about 18x the value of Dai (the underlying). Channelling my best Matt Levine here: "This seems... wrong."

Nic Carter, Partner at Castle Island Ventures and Co-creator of Coinmetrics

2018-05-11 | Full Review

πŸ”‘

Synthetic assets have existed for a long time and it's clear that they work, modulo the tradeoff between tail risk and capital inefficiency. That's all stablecoins are....DAI is about getting exposure to the dollar without holding it.

2018-04-21 | Full Review

πŸ’©

In crypto it makes sense to do things like MakerDAO which is 300% collateralized while the price of everything goes up. In a black swan, however, this arrangement means the holder of a CDP loses money 3x as quickly on the way down.

2018-04-21 | Full Review

πŸ”‘

Still early on "work tokens" but favs thus far are MKR (workers provide backstop on CDP & vote on decisions) & REP (workers report outcomes)

2017-07-05 | Full Review

πŸ’©

let's talk about today's @MakerDAO / @a16z announcement. for those who missed it, A16Z's crypto fund bought 6% of Maker tokens for $15M, at a 25% implied discount to the current price of $MKR....i'm sure people think this is a great sign for the project - being able to recruit high quality capital. but, i think this is a massive failure in governance and project management.

2018-09-24 | Full Review

πŸ”‘

Makerdao, seems to be working fine. Just needs more diverse collaterals

2018-02-02 | Full Review

πŸ’©

Dai is backed by collateral (currently ethers). In fact, it is overcollateralized. The obvious risk is that if the collateral becomes worthless then Dai becomes worthless.

2018-05-20 | Full Review

πŸ”‘

MakerDAO is more than a stablecoin project. Trustless margin trading provides public information previously only accessible to exchanges

2018-06-17 | Full Review

πŸ’©

I spent some time recently discussing MakerDAO's Dai with one of its developers. I don't think they quite understand what stabilises a regulated banking system, and why unregulated banking systems tend to be extremely unstable.

2018-05-23 | Full Review

πŸ”‘

Baby started saying "dai-dai-dai" and I'm very proud she understands how the price stability of the $dai is not only a refuge during very volatile periods, but that it reminds us of the real value of the platform that allows a correct implementation of underlying mechanisms.

2018-09-10 | Full Review

πŸ”‘

If you want full crypto-decentralization, DAI still exists and works great.

2018-10-23 | Full Review

πŸ”‘

DAI is interesting but I don't think they are quite there yet. I had a chat with one of their devs over coffee a couple of weeks ago. I said that as CDPs are essentially banks, they need to think a bit more about what makes banks stable (or unstable).

2018-05-30 | Full Review

πŸ”‘

Makerdao or something like it will be big. Crypto needs a central bank that's crypto native.

2018-11-15 | Full Review

πŸ”‘

The new DAI will include a Saving Rate, which is controlled by a Stability Fee, which is controlled by a Rates Policy Oracle which in turn is set by a Maker Global vote. At this point it's better to describe them as a on-chain central mint than simply an algorithmic stable coin. But don't take that as a criticism. Highly complex governance structures, with multiple competing incentives that try to align the Nash equilibrium to the desired outcome (in this case, "Dai still at one dollar") is exactly why Ethereum was built.

2018-11-21 | Full Review

Stablecoin comparison

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