With Multi-Collateral Dai only a week away, I'm gonna be tweeting out information about the new system. Hoping y'all can see that the "multi" part is just one out of many improvements.
Also, I'm calling it Much-Cooler Dai from now on.
#MuchCoolerDai😎
Also, I'm calling it Much-Cooler Dai from now on.
#MuchCoolerDai😎
Did you know?
The Stability Fee now accrues directly on your generated Dai. This means:
- It is paid in Dai (not in MKR)
- It counts toward your liquidation ratio!
There's a Global SF + a per Collateral SF
#MuchCoolerDai😎
The Stability Fee now accrues directly on your generated Dai. This means:
- It is paid in Dai (not in MKR)
- It counts toward your liquidation ratio!
There's a Global SF + a per Collateral SF
#MuchCoolerDai😎
Did you know?
Stability Fees now go into a Surplus Buffer.
When a threshold is reached, a Surplus Auction is created. This auction offers Dai in exchange for MKR. After, the MKR collected is burned (or goes to live on a farm in Wyoming).
#MuchCoolerDai😎
Stability Fees now go into a Surplus Buffer.
When a threshold is reached, a Surplus Auction is created. This auction offers Dai in exchange for MKR. After, the MKR collected is burned (or goes to live on a farm in Wyoming).
#MuchCoolerDai😎
Dai Savings Rate!
DSR is paid from Stability Fees. Lock up your Dai, starts accruing instantly. Release at any time. No borrower on the other side, just the Maker Protocol.
Governance will use DSR as the primary lever to maintain the Peg.
#MuchCoolerDai😎
DSR is paid from Stability Fees. Lock up your Dai, starts accruing instantly. Release at any time. No borrower on the other side, just the Maker Protocol.
Governance will use DSR as the primary lever to maintain the Peg.
#MuchCoolerDai😎
Did you know?
PETH is gone! Collateral from liquidated positions is auctioned for Dai in a Collateral Auction. If the auction does not recover enough Dai to cover the position, MKR is minted in a Debt Auction to recover the difference and balance the system.
#MuchCoolerDai😎
PETH is gone! Collateral from liquidated positions is auctioned for Dai in a Collateral Auction. If the auction does not recover enough Dai to cover the position, MKR is minted in a Debt Auction to recover the difference and balance the system.
#MuchCoolerDai😎
INTERMISSION!
If you're "normal people" you don't _need_ to understand all this.
But if you want, you can learn how it works, read the source code, audit the smart contracts, and verify everything on the Ethereum blockchain. It's all there.
That's powerful.
#MuchCoolerDai😎
If you're "normal people" you don't _need_ to understand all this.
But if you want, you can learn how it works, read the source code, audit the smart contracts, and verify everything on the Ethereum blockchain. It's all there.
That's powerful.
#MuchCoolerDai😎
Did you know?
Yes, MCD is MULTI Collateral Dai! System will launch with ETH and BAT, but almost anything can be added, provided MKR Governance votes it in and there's a reliable price feed.
ETH could even be listed again with different risk parameters.
#MuchCoolerDai😎
Yes, MCD is MULTI Collateral Dai! System will launch with ETH and BAT, but almost anything can be added, provided MKR Governance votes it in and there's a reliable price feed.
ETH could even be listed again with different risk parameters.
#MuchCoolerDai😎
Did you know?
Oracles are updated as well! Each collateral has a Median and an Oracle Security Module delaying price updates by an hour. And we have other DeFi projects participating!
blog.makerdao.com/introducing-or…
#MuchCoolerDai😎
Oracles are updated as well! Each collateral has a Median and an Oracle Security Module delaying price updates by an hour. And we have other DeFi projects participating!
blog.makerdao.com/introducing-or…
#MuchCoolerDai😎
Did you know?
MCD stands for Multi-Collateral Dai (or Much-Cooler Dai), but not Mariano-Conti Dai! 😂
#MuchCoolerDai😎
MCD stands for Multi-Collateral Dai (or Much-Cooler Dai), but not Mariano-Conti Dai! 😂
#MuchCoolerDai😎
Did you know?
If you have a CDP open you can migrate to an MCD Vault, paying the Stability Fee with MKR or Sai. If using Sai, you can use your existing balance or take out more Sai from your CDP if it won't put your CDP at risk.
github.com/makerdao/devel…
#MuchCoolerDai😎
If you have a CDP open you can migrate to an MCD Vault, paying the Stability Fee with MKR or Sai. If using Sai, you can use your existing balance or take out more Sai from your CDP if it won't put your CDP at risk.
github.com/makerdao/devel…
#MuchCoolerDai😎
