π₯ You are walking through your Maker Vault and suddenly this capybara has appeared!
βοΈ This is the Dai Protector, a capybara from @CryptopetsAR with a sword and a Dai-branded shield that is always ready to protect your collateral, your Dai and your entire Maker Vault.
π Thanks to @CryptopetsAR for this custom MakerDAO NFT.
π¬ The Dai Protector capybara comes with a proprietary built-in CryptoTag that can be scanned to activate the augmented reality technology.
πΎ In the same way, all of the 9,999 unique pets have this amazing feature!
βοΈ All CryptoPets live in the Solana blockchain and can be viewed in augmented reality just by scanning their identifier QR code.
π₯ Test this out for yourself on their website (cryptopets.tech), and don't forget to sign-up for their pre-sale allocation while you're at it!
π¦ Actually, they are the first NFT augmented reality collection that leads the pack towards an interoperable and open-world blockchain! The team are building a 3D P2E CryptoPets game inspired by #SquidGame, and their NFTs will also join their follow-up metaverse project.
Looking forward for the drop! π
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Dai is almost ready to jump into ... Arbitrum π₯
Maker Protocol Engineering CU are working to connect Dai to @arbitrum rollups solution. They will conduct a final audit of the Custom DAI Gateway before the launching πͺ
What is Arbitrum? How does it work? Thread time! π
2/15
ποΈ What is a rollup?
A rollup is a scalability solution in which transactions are written on Ethereum, but the actual computation and storage of the contract are done off-chain
Transactions are executed on a chain that runs a version of the Ethereum Virtual Machine (EVM)
3/15
βοΈ After executing transactions, the rollup batchs them together and posts them to the main Ethereum chain.
ποΈ We can think of the assertion as "rolling up" all of the calls and their results into a single on-chain transaction.
If you put crypto into a Maker Vault you can issue Dai. But, your crypto must have a greater value than the issued Dai. That relation of values has a required minimum level, and when your crypto falls below it, it's a FATALITY (Liquidation) time
How it works? Thread timeπ
2/15
π± Liquidation is the process of selling collateral to cover the amount of Dai a user has issued from their Vault.
It ensures that Dai is always backed by an appropriate amount of collateral by closing-out Vaults that are under their min. required Collateralization Ratio.
3/15
πΌ Let's assume you issued 10,000 Dai through a Vault in which you put 6 ETH and the current value of your 6 ETH is 18k USD (1 ETH = 3k USD). Ok! Your Vault is healthy, because your Collateralization Ratio is above 150%. Actually, this Ratio is 180% with the current values.
β Core Units completed the final decentralization of @MakerDAO and its protocol
Now the workforce of a DeFi protocol that generates hundreds of millions in revenue is fully decentralized
How do Core Units work and why are they the future of work? Time for a new thread π
2/14
π From the beginning, Maker was conceived as an entirely decentralized organization. But for this to become a reality, it was necessary to build a solid base.
For this reason it started as a Foundation with employees in a traditional scheme.
3/14
π― This year the objectives of the Foundation were achieved, and therefore it was dissolved.
π¨βππ§βπSo, without a Foundation, where is the workforce of the people who will continue to keep working and growing Maker? Core Units have arrived!
MakerDAO launched 1,000,000 MKR tokens at its inception, but 991,328 is its current maximum total supply according to @etherscan.
The +8.000 MKR "missing" are really burned! π₯
Why is MKR supply dynamic and how does it work? It's time for a thread! π
2/12
β MKR is the governance token of MakerDAO. Its main functionality is to be used as vote power to approve or reject improvements and changes to the Maker ecosystem. But, actually there is another reason why MKR exists.
3/12
π€ The token also acts as a source of incentives to govern the system well. This is because its supply can change according to the situations presented by the Maker protocol.