It seems like AAVE, Compound, DYDX, etc. and the ethereum environment are benefiting from the stability of dai and using it to innovate. With the dai savings rate, this is all at the cost of MKR holders.
I am all for the Facebook approach of not worrying about maximizing profits, and just focusing on wide adoption but with AAVE and Compound mirroring every step Maker takes this is reaching a breaking point. AAVE is utilizing their liquidity pools for flash loans while Maker seems to have no interest in utilizing locked funds. I just anticipate Maker’s market share to continue to dwindle if we do not innovate. It is not enough to just keep adding the options in collateral. AAVE and compound will just copy these moves and provide fractionally better rates.
MKR developers are unaffected by this since they stand to gain more money in their other daos ie: MolochDao and MetaCartel. They’re being introduced to the newest tech and getting free coins like META.
I am thankful for what Maker has done for ethereum but as a MKR holder I feel like the laughingstock of DEFI. Every other project leaches off of the stability we pay for, meanwhile instantly copying every innovation made so Maker can’t set itself apart.
Originally from MakerDAO https://ift.tt/2U1t8c6
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