/biz/ - Business & Finance

1) no BS fundamentals
2) ignored by /biz/
3) (close to) fully diluted supply

Anybody else accumulating?

Why did people ever get so attached to this shit? Because of the ETH branding?

Thoughts on Maker?

1m circulating supply
Governance token for DAI
Recently listed on Coinbase

Who here holds MKR? I'm thinking about picking up some but I'm wondering if it's really worth it considering there never seems to be much price action. I'm also interested in lending DAI with for earned interest. Why should I even hold the Maker besides governance? Is MKR something to make money on, or rather, to participate in the DeFi sphere?

how rich are we going to be?

Multicollatoral DAI is coming on Monday. How many SATs are we going to?

Price target for this guy after the 18th? Are we priced in already or will we get a nice pump?

Recap: Maker produces a synthetic stable asset (Dai) by backing it with an unstable asset (Ether). It does this by guaranteeing every Dai is backed by at least one dollar of Ether at all times. You probably already knew that. What if we could do that in reverse? Can we create a synthetic volatile asset backed by a stable asset? Consider the following:

Put down 1000 DAI collateral and get 5 synthetic APPL shares (SAPPL). Why would anyone take SAPPL as the real thing? The same reason anyone takes DAI - because it is always backed by at least one dollar of collateral. SAPPL is always backed by at least 1 APPL worth of DAI.

In a regular Maker debt position liquidation occurs when the price of the collateral falls. But the collateral in this case is DAI which is stable. The ratio can only drop if SAPPL increases in value. The person who loaned himself SAPPL is then betting against SAPPL. He sells SAPPL for more DAI and hopes the price falls so he can buy more later, paying back his loan and pocketing the difference. But if the price rises and his collateralization ratio falls, his collateral (Dai) will be liquidated for SAPPL.

Do you get what that means? ANYONE can make a derivative for ANYTHING. And if enough people loan out SAPPL - it will become a substitute for the real thing.

Holy shit.

what will drive its price up?

Maker DAO

>>9574790
So MKR/DAI
https://www.youtube.com/watch?v=a0nLGUXVqhw

My time to shill MakerDAO for driving profits while the whole market is down.

https://mkr.tools

1. Buy DAI in a bear market on the maker platform https://dai.makerdao.com
2. Wait for liquidations to pop during a correction.
3. Buy liquidated ETH at -3% market price.
4. Leverage your new ETH and wait for the market to recover
5. Rinse and repeat

Result: Up 37800 DAI which will become realized profits as soon (and if) ETH hits $1105 (liquidation at $400~ ETH)
Of course there is the risk of getting liquidated yourself, but it is only a 12% penalty.