MakerDAO is providing 175% coll. ratio for 0.75% interest p.a. DefiChain

Question

MakerDAO is providing 175% coll. ratio for 0.75% interest p.a. DefiChain

needs 500% coll. ratio to get to 1% interest p.a.

Maybe it's time to discuss those rates to attract more inflow of BTC to the ecosystem...
And is it possible, that other operators will join the defichain system to wrap BTC and mint dBTC for greater capital flow? Right now only CakeDefi has the right to do that minting.

Like wBTC and renBTC which are open protocolls to wrap BTC. That would allow more CEX trading of dBTC which would enable us to establish a dBTC/BTC liquidity pool.

#blockchain #cryptocurrency #defichain #english

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23.06.2022

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Gaara Автор вопроса

DanieL BaptistA
Hi! Not exactly, there is no "right" to wrap token...

Thats not correct. dBTC is a token created by one entity in the ecosystem. No other player can mint the same token. It's only useful, if 1 dBTC is always 1BTC. I could create dBTC2 Token and provide bridging but that would be 1 side and dBTC the second wrapped BTC....

0

24.06.2022

DanieL BaptistA

Gaara
Thats not correct. dBTC is a token created by one ...

But that is what I said. No one is stopping anyone from creating a bridge and create a customized token. As long as it is according the rules. You can perfectly create your own dBTC2. It is perfectly possible. The real "problem", is not to create a wrapped token (which is not easy) , is to act as custodian. It would not be an individual thst could bear to do such, would always need to be some sort of entity. You can propose an improvement proposal fir a new atomic swap for example and develop it by yourself of with your team for example. If masternodes vote it favourably, it can be done. As for the previous iteraction of the atomic swap, since there was no custodian, yes that always needed to be a 1:1 user activity, because for every buyer, there was the need to have a buyer, there was no pool. That is another point that can be subject to a future improvement.

0

24.06.2022

DanieL BaptistA · Accepted Answer

Hi! Not exactly, there is no "right" to wrap tokens. Cake does that now in exclusive, but that is not by right, it's just because no one as decided to do that also. Defichain code is opensource, anyone can grab that and study it to make it's own Defichain ecosystem compatible wraping. But is no essy task. As for the rates, that us open for discussion, abyone xan ipen a thread on reddit to discuss them and submit a proposal to change them 🙂

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MakerDAO is providing 175% coll. ratio for 0.75% interest p.a. DefiChain

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