MAKER DAO (MKR / DAI) thread

[ninobtcx]

Where do you buy it?
https://oasisdex.com/trade/MKR/W-ETH

Why should the price go up and what it really is?
https://medium.com/cryptolinks/maker-for-dummies-a-plain-english-explanation-of-the-dai-stablecoin-e4481d79b90

Some reads and links:
https://coinmarketcap.com/currencies/maker/
https://medium.com/cryptolinks/maker-for-dummies-a-plain-english-explanation-of-the-dai-stablecoin-e4481d79b90
https://medium.com/@blockspace.info/investment-analysis-makerdao-e58245d07c2f
https://www.coinspeaker.com/andreessen-horowitz-invests-15m-into-makerdao-buying-the-right-to-govern-the-project/
https://bitcoinexchangeguide.com/makerdao/
https://www.investinblockchain.com/makerdao-updates/

Long story short, a MKR CDP is called a collateralised debt position; you are using our ETH as collateral for DAI debt. You can get DAI from your CDP and then do whatever with it. You get the ETH back when you repay the DAI (which is pegged to 1USD via the market and smart contract). Be mindful that if you don't leave enough margin your position can get liquidated.

MKR is the fuel of the system.. 2.5% fee is paid in MKR, and that MKR is burned. Which means total supply is set to decrease every day, and thus price to increase.

+ stable coin managed by smart contract; used already, use will grow
+ you can create collateralized LEVERAGED positions
+ MKR is probably a very good buy
+ new thing, people still don't understand it

- oasisdex is shit
- bit complicated to understand
- 2.5% fee
- 150% (at least) of collateral needed to open CDPs
- people get burned with low collaterals these days

[ninobtcx]

Nobody gives a damn about MKR?
Ok.

[sam_ti_dyatel]

I like this idea, decentralised stablecoin, great realization.  DAI loan has monotone growing.
As I understand 25% MKR were burned in last year? this is pretty fast.

.. 2.5% fee is paid in MKR, and that MKR is burned.

0.5% per year as writed here https://cdp.makerdao.com/ ?

[jeffthebaker]

Would 100% love to learn more about Maker. It's likely the single project that deserves more of my attention than I've given it. Decentralized Autonomous Organizations have massive implications, and Maker seems to be leading the forefront. Outside of p2p lending, what other initiatives are possible through MKR?

[zasad@]

https://decrypt.co/112808/makerdao-custody-usdc-coinbase
MakerDAO Votes to Custody $1.6 Billion in USDC With Coinbase
"The MakerDAO pilot will run through the end of 2022 before the community needs to vote on whether to keep its USDC with Coinbase next year.
Coinbase will custody $1.6 billion worth of MarkerDAO’s USD Coin (USDC) treasury with its institutional-grade service, allowing the DAO to earn up to 1.5% rewards on the funds."