Maker is the most under appreciated DeFi blue chip.
- By far the most profitable DeFi protocol adjusted for token subsidies ($100mm run-rate rev) and growing 📈
- Has one of the strongest moats in DeFi (most widely integrated)
- Use cases are expanding rapidly (more $$$)
- By far the most profitable DeFi protocol adjusted for token subsidies ($100mm run-rate rev) and growing 📈
- Has one of the strongest moats in DeFi (most widely integrated)
- Use cases are expanding rapidly (more $$$)
https://twitter.com/sgmacpherson/status/1369315493245509632
Dai is far from perfect.
It doesn’t scale perfectly.
It has centralized collateral.
It is governance heavy.
The buyback and burn token model is suboptimal.
These are all reasons why I believe there is an opening for new decentralized stablecoin competitors.
It doesn’t scale perfectly.
It has centralized collateral.
It is governance heavy.
The buyback and burn token model is suboptimal.
These are all reasons why I believe there is an opening for new decentralized stablecoin competitors.
But overcoming Dai will be not be easy by any measure.
The MakerDAO system is reliable, stable, secure, and proven. Just like anything at the base of the monetary system should be.
Key reasons why the moat is so strong.
The MakerDAO system is reliable, stable, secure, and proven. Just like anything at the base of the monetary system should be.
Key reasons why the moat is so strong.
Finally when I think about where value will accrue on Ethereum it’s hard not to think the protocols that issue currency like Maker will be in a powerful position.
They will be foundational infrastructure for the Ethereum monetary system that will set the price of currency and potentially accrue massive balance sheets that they may use for other revenue generating activities 💸
I’ve been guilty of fading MKR myself, but gotta respect the king of decentralized stablecoins.
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