Nick Tomaino on Dai

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Nick Tomaino is a co-founder and general partner of 1confirmation, an early-stage crypto fund. He previously worked in business development at Coinbase.

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

Stablecoin

Dai reviews by Nick Tomaino

๐Ÿ”‘ 2 positive | ๐Ÿ’ฉ 0 negative

2018

  • ๐Ÿ”‘

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

    2018-06-17 | Full Review

2017

  • ๐Ÿ”‘

    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

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๐Ÿ”‘

Monero (symbol XMR) is the current leader of the privacy-focused digital currencies.

2017-01-03 | Full Review

๐Ÿ”‘

The success of Tether, despite severe flaws in centralization and lack of transparency, is the only rebuttal necessary. Thereโ€™s strong demand from the crypto community for a decentralized stablecoin; that is undeniable.

2017-12-16 | Full Review

๐Ÿ”‘

0x is a great project, there is a lot of hype around it though. Wouldnโ€™t call it underrated

2018-06-03 | Full Review

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๐Ÿ”‘

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

2018-05-21 | Full Review

๐Ÿ’ฉ

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

๐Ÿ”‘

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

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