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Been reading into the whitepaper some more

The DeFi Money Market protocol tokenizes real world assets and enables anyone in the world to earn stable interest on their savings in a permissionless manner

The smart contracts reside on #Ethereum enabling composability with the rest of the #DeFi ecosystem

Attestation of real world assets backing the DMM ecosystem and the valuation of such assets are securely delivered by a decentralized #Chainlink oracle network
Details about the real world assets backing DMM tokens are kept on-chain for transparency (loan information is anonymized)

DMM tokens conform to the ERC20 standard and are overcollaterlized

Users purchase DMM tokens with $DAI or $USDC stablecoins (soon other crypto like $ETH)
The stablecoins are converted to Fiat and used to purchase interest-earning real world assets

Users can redeem their DMM tokens for their initial payment + accrued interest at any time

The exchange rate of DMM tokens to stablecoins grows as interest accrues
Some stablecoins are left idle in the contract (or DSR) to ensure sufficient liquidity for exiting users

Backing of the initial DMM tokens is a pool of vehicles located in the United States

Valuation of these vehicles comes from (delivered by Chainlink)
If income payments are not made, secured assets can be sold to add collateral back to the system

Parameters of the system are maintained by a gnosis safe multisig, but ultimately governance will transition to a DAO structure

There is a 6 hour time-lock for any upgrades
Acknowledged risks include hacks, malicious exploits, initially centralized infrastructure, underlying asset risk, and treasury management risk

The initial tranche of assets being tokenized is $10M and are already producing income
The system will move away move away from it's intial centralized design to a two-stage DAO governance scheme

With this, no single legal entity will control the protocol

It is anticipated that within 12 months launch, ownership will be completely distributed and decentralized
More improvements to come including diversifying the collateral by expanding asset classes and geolocation of assets, Fiat on-ramps, and transparency of intermediary Fiat using @chainlink
This project is definitely one to watch, not run by your typical literal who…
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