@vamsi0x
warpcast: va email:firstname@lastname.id
📅 Joined: 12/10/2008
🗄️ Archived: 8/26/2024
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Multi Collateral Dai is also, * Formally Verified Dai * Dai Savings Rate Dai * Pay Stability Fee With Dai Dai * In-Built MetaTx Dai * Governance Action Delay Dai * Continuous Stability Fees Dai * Decentralized Emergency Shutdown Dai * Oracle Security Module Dai * MKR Backstop Dai
Understanding how stability fees are charged to all ̶C̶D̶P̶s̶ Vaults in a single ethereum transaction was a pretty big aha moment for me. I wrote a short guide to explain this magic, https://t.co/U0MzknLkAu
Are you worried that you have very little time left to understand the maker protocol to develop an exploit and steal ETH before GSM is activated? Try reading our annotated codebase with clear explanations and no memes. https://t.co/AnMbyoaIkz Example: https://t.co/MVWiGIV80l
I think the P/E era has begun for tokens. Profit generation is the only strong foundation tokens can rest on long term. We are going to see tokens trip over themselves adverstising their P/E number and also get creative. Be wary! And remember that MakerDAO was the first!
@cryptovoxels Total market cap in 2018 was about 10,000 USD haha, insane growth so far! 👏🏻👏🏻 https://t.co/Y1KfpRNZza
Dai House is a new hangout space for the dai community in the cryptovoxels virtual world- https://t.co/VlV2Ychpc7 More information about in-world virtual events to follow soon! Thank you @Dat_Ogar for the amazing build and @cryptovoxels for developing this great platform. https://t.co/V8z0Q6506x
at letting a16z and naval open a, * 1 billion ETH vault * with no stability fee * at a 100% collateralization ratio, no buffer for them to lose, only upside * no liquidations * can choose when they payback and close vault And they still found idiots who would lend to them!
Ticker Maximalism is the only way forward. MSFT > Microsoft Tickers are * unique * short to type efficiently * high information content- no fluff characters * less error prone * did i mention unique? @TokenDao_ is here to organize tickers for the web https://t.co/agYYxi7nFH https://t.co/PiVVypGOZw
Dai is permissionless because the protocol creates money natively and manages risk like a bank would and is not dependent on other banks. It has absolutely nothing to do with Ether being used as collateral. This is just one of many discrepancies in here- https://t.co/4eW3AeI7w1
Private NFTs next? NFT Metadata/URI stored on Uqbar or UVM chains. Actual media can only be viewed by Urbit ships that are in the know and was explicitly shared with. Urbit makes it a seamless p2p exp AND removes intermediaries who might leak private nfts to LLM models.
@hasufl @MakerDAO CDP holders directly give MKR at the current MKR/USD rate(or the user interface buys MKR from a DEX with Dai) to the burner contract right now. In MultiCollateral, Dai is debited as stability fee directly from CDPs and their outstanding debt is increased.
IMO fears of USDC within Maker are overblown. What if Maker adapters timelocked USDC on the depositor's address for a week before allowing it into a vault? Wouldn't it give CENTRE enough time to review and act on blacklist requests they might receive for the address?
@Davidutro @brianmcmichael @urbit Urbit hosts social experiences as apps- blogs, team comms, messaging. Everyone runs their own personal server, so the data stays under their control. All data is exchanged p2p, i’m not sure what performance or feature limitations this could have. cc @urbitlive
@jbrukh @rzurrer Snapshot from Feb 29th 2016 "... by exploiting such opportunities are called Keepers. Generalized, a Keeper is an economic agent that contributes to a decentralized system in exchange for built-in rewards. Specifically for Maker this means ..." https://t.co/KOvYzRfHl8
@cryptovoxels Yes! Maybe limit visitors to 10 at any time for differentiation? I think this feature will benefit the entire NFT space when every ethereum address has a default exhibition space to show off their prized possessions.
@Davidutro @_charlienoyes @delitzer @joeykrug @brendan_dharma @MakerDAO @Send_Tribute @cyounessi1 @OpenZeppelin @smpalladino A hook is available in MCD for future target rate mechanisms to plug into that can adjust the reference rate. I can definitely see multiple ways to do negative interest rates though including the ones mentioned above.
@BradyDale Maker has emergency shutdown which MKR holders can trigger as soon as the Dai scarcity affects the peg. User who burnt Dai will not be able to claim the collateral backing it but the remaining Vault owners and Dai holders will be settled fairly.
“...but I would argue the vast majority of DeFi tokens are borderline worthless. Why? Because of what makes DeFi great in the first place.” “Maker increasingly seems like the only solution that’s truly fork proof...” https://t.co/BT55rVhl6O
Is the MKR P/E ratio signal or noise? 🤔 https://t.co/wJRhT6cQUA
Synergy between working dapps was a dream two years back. Yesterday, I used ETH to mint Dai on @MakerDAO and could trade them immediately on @RadarRelay. https://t.co/W3gYcNetse
I’m so excited! join us -> https://t.co/NnRdg3cETd https://t.co/JISuPx2IQL
@NoahZinsmeister @MakerDAO Have you tried the new CDP portal at https://t.co/gtK2SoPevk?
@TheStalwart Collateralized loans. One use case is decentralized leverage. Borrowers who want more exposure can lock ETH in a smart contract and take a DAI oan to sell it for more ETH. Those on the other side of trade seek stability since it is dollar pegged. https://t.co/jmmetwySxD
@jemenger @MakerDAO An MCD 101 guide is available now thanks to @KentonPrescott https://t.co/MGcw2Db2YG Please tweet at us if you are looking for any other details.
Bold claim calling it the only backstop! I can think of two other backstops, one available on-chain and another off-chain, that impact the price of MKR but will NOT result in dilution. https://t.co/8n4G8j3tZt
@colingplatt @teo_leibowitz @TrustlessState @fubuloubu @androolloyd @prestonjbyrne @marmotcoin @richatmakerdao @MakerDAO @visavishesh @cyounessi1 It does not in the current live version. CDP safety is determined using 'tab()' which returns only the Dai borrowed directly by the user plus another fee that was never activated. https://t.co/YhwzIpY7zY
@lucasvo Its like ENS but for token symbols only. No need to purchase token symbols, every project will get their automatically assigned by @TokenDao_ Users get a consistent end-point to grab data from or even link to websites https://t.co/ewSP3gTtg7 https://t.co/eDVIzCeO2m
@allilulllc @UMAprotocol 🙋♂️ A prototype @JParkLevine and I developed a while back - https://t.co/IScLujTBtA
@brendan_dharma @delitzer @MakerDAO @Davidutro No the lock requirement itself isn’t an economic lever and is just a smart contract design choice. Whether Maker develops the smart contract or not, tokenizing DSR Dai is trivial.
I just tipped https://t.co/PRPoNNS2x5 using the Brave Browser. Check it out at https://t.co/B8102N4AIX. #TipWithBrave
@ConsenSysAndrew @cyounessi1 @MakerDAO @RobTG4 @coinbase Everyone knows that Emergency Shutdown/Global Settlement can happen anytime to protect Dai holders by settling CDP owners' debt. Please tell me why people who are aware of the supposed tax benefits of opening a CDP would miss this key fact and wouldn't prepare for this up front?
@RyanSAdams @bennybitcoins @QWQiao Liquidations in the long term could also shift from the core system to tools like https://t.co/lukTA3R3TA that help CDP holders completely skip fees, which will make them very insignificant to use in MKR valuation models.
@nicksdjohnson @epheph @MakerDAO Indeed it works and is used a lot in the new codebase! https://t.co/rQSqd6EdXg https://t.co/Ze8AQJDnGC
@jedduffey @Davidutro @MakerDAO @g_dip GemPit contract collects all the MKR stability fees paid by CDP owners. Anyone can call the burn method to decrease it's MKR balance from total supply. It isn't authorized to do it yet on the MKR token and will soon be in the next batch of auth changes. https://t.co/y30nJ5ciQ0
@JohnTodaro1 @compoundfinance For the MakerDAO portion, we have to apply more nuance to correctly interpret the ETH supply actively locked. 70MM DAI in circulation * 1.5 collateral ratio @ 158 ETH/USD = ~660k ETH real demand, not just passively locked in the Maker contracts which could skew this metric.
Verifying my Blockstack ID is secured with the address 1Lz9kRj8BjnjQfCgQK6k3KdxfvxEtiSFo6 https://t.co/6VKM38I3Du
highly recommend going to https://t.co/kY7hD9u4V9 to cleanse your eyes after reading bull crap like this https://t.co/w9yA6ouQlx
@avsa @nanexcool This section will give you some more context on how we use these number types - https://t.co/XetQQofXF3 The guide itself will give you details on how interest rate calculations work.
@Frances_Coppola @matttrichards @AbramSymons @MakerDAO Yes, but none of this is designed to make a borrower take a loan to buy MKR and then force them to speculate on it’s price. On the contrary, a user is forced to burn the entire MKR they bought within a minute while they close out their loan.
@g_dip @TokenDao_ secret pre prod decentralized link for you :D https://t.co/3AaEH34tJc please claim ajna and m0 quick by entering any details you have today white glove service on standby if you run into any issues
@ConsenSysAndrew @cyounessi1 @MakerDAO @RobTG4 @coinbase Also, disclosures that were made before Dai was released - https://t.co/wqRFFbfsAe
Profits collected per year: Coinbase: $100M+ Uniswap: $0 Shilling a token’s value prop using the profits LPs on the platform receive is fraudulent. A lot of investors who dont understand the nuance will get burnt. https://t.co/DdGA46Ini7
@prestonjbyrne Normally I ignore you but you are telling blatant lies now. There is a whole ecosystem trying to move CDP owners' debt off Maker. CDPSaver, Keydonix, Wyre etc. let users deleverage their CDP and payoff their debt using the collateral that is locked in the CDP itself.
@zhusu @RuneKek @hasufl @panekkkk @Mariandipietra No need to pay DSR if there is already large demand for Dai. Lower stability fees will be a key reason for assets to get tokenized and use CDPs for borrowing. There is a loop here that benefits not just Maker but the entire space.
@hasufl @koeppelmann @KyleSamani @MakerDAO https://t.co/9XwGmmKTsE explores some of the theories of money and where Dai fits in...
Price feed oracles with delays neither reduce decentralization nor introduce additional risks IMO. Won’t it be business as usual if Maker governance just sets price of a collateral type every week? Governance can even use a signal poll for a proper gut check before exec vote 🤣
@RLoombs @cburniske @MakerDAO Singe collateral Dai does not use bidding or auctions, only continuous sales to anyone willing to buy at a fixed 3% discount to current oracle price. We’ve seen some Keepers bite and interact with DEXes in one transaction. They either lose gas or get a guaranteed profit in Dai.
@AndrewSteinwold @cryptovoxels Its from https://t.co/MjHg5gshsC and this screenshot was posted to the CV discord back then.
Verifying myself: I am vr on Keybase.io. YsFFNvlJjGbwZnjcjsHQ6mlYP8aQ8FHCwFwH / https://t.co/hBjPDOUJvG
@ecoinomia are decentralized protocols Incentive Mode 1 governance structures that blur differences between markets and hierarchies? https://t.co/jEMiUdmRN4
@visavishesh Many assume Maker protocol would grind to a halt when oracles fail or stop. I'm saying risk premiums could slightly increase due to additional delays but system will chug along. Oracles are a nice to have feature but I don't see how they really make or break the entire system.
@C1aranMurray @TheStalwart The other way round actually :) MakerDAO does not make any loans or pay users to collateralize DAI. In fact MakerDAO charges users a stability fee for this! Those who want loans lock their assets voluntarily to create and sell DAI on the market to those seeking stability.
@visavishesh Yes, delays cannot be avoided. Worst case Maker governance updates prices every week. Additional risk for increased delay gets passed down as higher risk premium. If oracles do work well and update every hour instead, won’t this additional risk be lower and lower risk premiums?
“Given our scale today, maybe bubbles aren’t such a bad thing. Maybe they’re just realistic. If so, letting people break off into their own conversations, instead of trying to keep them in the same place, is the world we should design for.” https://t.co/J15d77K9tz
Vision Pro could have been named iPad Spatial For casual users, its like an iPad on the device spectrum. We wouldnt miss it like an iPhone or a Macbook, but having it around helps in situations we find iPads handy and useful. Also, used it for an entire day and had no fatigue
“Blockchain technology only creates a foundational layer of information that is censorship resistant. How anyone chooses to access or avoid that layer will be entirely up to them.” 🤔 https://t.co/UZzLESQOkb
@teo_leibowitz I think we need to wait for MKR holders to start levying risk premium on collateral types before we can look at these charts and find more signal. That’s a real and sustainable earnings component. What’s also currently 0 is earnings new lines of business like Oracles will bring.
@teo_leibowitz I’m looking at which earnings components are going to be around for years to come. Dai not locked will be tiny in the future once all integrations include DSR soon. Tools like DefiSaver will deleverage vaults before liquidation for a small fee and no one will pay a penalty.
@teo_leibowitz MKR price data is questionable but the earnings component is definitely noise I think. Real earnings are from the 0.25% spread, the first poll did not have 0% as an option but I think it’ll be there soon. Dai holders are just leaving money on the table temporarily.
@ChainLinkGod @hasufl @MakerDAO How does that not prove my point? Linkies paying 10x the fees to use Maker instead of other alternatives. Are you calling some of your own community stupid? Don't tell us about how much LINK is locked, tell us how much they have borrowed.
@ChainLinkGod @hasufl @MakerDAO i don't know, data makes it clear that linkies are using maker vaults pretty liberally and enjoying cheaper cost of borrowing, more safety with an oracle security module... https://t.co/FP19Y1ad9v
@benjamincalder @BrianSoule @the_prion @allisonswope @soulfoodz I wholeheartedly agree that hijacking scrolling to advance sections sucks! At least for vertical scrolling on landing pages. Kindle Cloud Reader is a good example where they hijack trackpad for horizontal scrolling to advance pages and that seems fine/ok to me.
@ith_harvey @PaulRBerg thats probably it, this was the original created with tikz https://t.co/hotLPrX8hR
@0xdoug .eth never had a business and token community focused plan, so usdc.eth will never happen lucky we have .tkn fully governed, community assigned symbols, that never expire usdc.tkn.eth works well checkout https://t.co/agYYxi7nFH
@tbr90 @0xdoug @jillrgunter can never be trap accounts if token names are treated carefully and harmonized TokenDAO solves this with .tkn checkout https://t.co/agYYxi7nFH