Overview:
- MakerDao for Shtcoins= Digital Collateralized Pawnshop for Coins
- DEGENS want more LEVERAGE + COLLATERAL options
- Cheap, Fixed-rate Interest ranging from 5.5% (BTC/ETH/YFI) to 12% (Shtcoins)
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- Generates fees in UP and Down Markets. DUCK= ANTIFRAGILE BUSINESS MODEL!
- Major Risks= 1) 30% overnight market drop in Large Caps, 50% overnight drop in shitcoins 2) Smart contract bug 3) Oracle risk (reduced risk since switching to Chainlink in April 2021)
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Thesis for 🔼 Cash-Flow :
1) Market and User Growth driven by CHEAP STABLE BORROWS. ( 5.5 % for BTC/ETH/YFI. 8% for BNB/LINK. 10-12% for Shitcoins)
2) Increased # of Yield Farmers as DeFI enters mainstream
3) DEGEN TAX(Liquidations) on DEGENS/NOOBS who overleverage