Was MKR a good trade at $500? Yes. Fundamentals were 📈 without any reward.
Does it currently generate a ton of earnings? Yes among the top in DeFi and 📈
But is the competitive outlook for MKR bright? Debatable. Seriously challenged in lending, synthetics, and stablecoins.
1/
Does it currently generate a ton of earnings? Yes among the top in DeFi and 📈
But is the competitive outlook for MKR bright? Debatable. Seriously challenged in lending, synthetics, and stablecoins.
1/
We discussed this opportunity back in August.
Back then Dai supply was going parabolic but stability fees were stuck at zero.
All MKR needed to do to turn on the cash machine was get rates up which it did.
messari.io/article/an-opp…
Back then Dai supply was going parabolic but stability fees were stuck at zero.
All MKR needed to do to turn on the cash machine was get rates up which it did.
messari.io/article/an-opp…
That said if I had to project 2 years out, how confident would I be that Maker won’t be disrupted on all three of the lending, synthetics, and stablecoin fronts?
Maker is resilient and battle tested, but Lindy effect only goes so far if Maker is fundamentally flawed.
Maker is resilient and battle tested, but Lindy effect only goes so far if Maker is fundamentally flawed.
Of course protocols can evolve so current imperfections can be addressed with time.
But Maker governance is notorious for moving slow.
Also doesn’t help that it seems to be more handicapped by US regulations than competitors.
But Maker governance is notorious for moving slow.
Also doesn’t help that it seems to be more handicapped by US regulations than competitors.
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