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crab notes 🦀 lobsterdao crab notes 🦀 lobsterdao @crab_notes · 8.04K subscribers
Post #718 1.42K
​​MakerDAO to become MakerKYC? 🤐

If you know Ethereum, then you know DeFi, then you know Maker. It's one of the only successful and relatively large blockchain working products/protocols. Think of 1 DAI as $1. What makes it unique is each DAI is backed by Ether instead of a 3rd party claiming to have the required collateral - you just have that collateral on-chain. Here is a nice read: https://hackernoon.com/whats-makerdao-and-what-s-going-on-with-it-explained-with-pictures-f7ebf774e9c2

Anyway, previosuly Maker team initiated a vote on making a MCD: multi-collateral with some weird illiquid coins, no offense. This was weird enough by itself, but now the team is going even further, suggesting to make collateral with real-world assets. No comment is needed to explain how it will impact the idea of a a decentralized stablecoin, right?

Here is a reddit thread if you want to know more and see some ideas:
https://www.reddit.com/r/ethfinance/comments/d6y6mx/including_nontrustless_assets_in_mcd_a_hidden/

Question ❓ Does the Maker project face a huge problem if it includes permissioned/non-trustless assets in the MCD collateral pool?
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