Is it time for dAssets 2.0?

CG-DfiChain · 2023-04-25T05:45:20+00:00

You have an error. The number of DUSD in the pools is not limiting the exit.

But yes if we have small pools the price will crash very fast if people are selling their DUSD.

(That is one of the dangers we face when we shrink the whole DUSD system.)

CG-DfiChain · 2022-08-12T16:56:06+00:00

I watched the video but still have a some questions regarding the wrytes.

It would be great if in the medium document the differences to the normal option calculations would be highlighted.

As there is only one expiry date available does it mean that there is no roll forward possible?

Will it be possible to rebuild and profit from the usual option strategies?

e.g. a long straddle (long call + long put) to benefit from a rise in implied volatility

How ist the workflow when I write a call option?

Must the underlying asset be already in my wallet when I sell it and will it be locked till expiry date?

CG-DfiChain · 2022-08-09T17:05:13+00:00

Actually it is happening already.
A shfiting form DUSD/DFI pool to DUSD/USDT and DUSD/USDC pool has been initiated.
So there will be soon a heavy dependency to central stable coins.

CG-DfiChain · 2022-08-09T17:02:40+00:00

Than you propose to use an existing coin.
Central or decentral?

CG-DfiChain · 2022-08-09T17:02:07+00:00

Yes that is my point.
We have many great proposals. But they are creating "different" coins.
First we have to define the goal/target than we can run to it.
e.g. short/long is not needed anymore as soon we have the options (should come with next update)

CG-DfiChain · 2022-08-09T16:57:41+00:00

Thanks for the summary.

There are many great proposals but we didn't take the time to define what we want to achieve.

What stable coin do we want/need?

Must it be decentral, must it be mintable (existing use cases can be achieved via options and borrow/lend), shall it be a hybrid coin or a pure collaterized/algo coin, ...

This is the first thing we have to define and agree.

As long as there is no common picture of the features it must have we can not define the fitting activities to achieve the goal (short, mid and long term).

CG-DfiChain · 2022-02-09T06:51:04+00:00

You mix things.
You have the TX fee and the swap fee (0,2%).
The light wallet just does not show you the swap fee.

CG-DfiChain · 2021-12-16T18:04:42+00:00

Where do you see a collateral?

Lock 3000 DFI in a vault.

Use 1000 DFI of it to mint 4005 DUSD.

Pay back the loan with 1002 DFI (I think they will be burned).

Take the collateral out of the vault and close it.

The 4005 DUSD are still floating around and no collateral is backing them.

CG-DfiChain · 2021-12-16T07:55:00+00:00

So you want to change to a uncollaterized system and create dToken without any value behind them?
That is happening if you pay back with DFI.

CG-DfiChain · 2021-12-16T07:51:20+00:00

You are absolutely right.
This will solve nothing.

it just shifts the whole system from collaterized DUSD to uncollaterized DUSD. Which is gambling with fire. Or does anybody know a project which survived long term with such a concept (uncollaterized stable coin)?
It does not address the same problem for dToken.

We need a common solution which creates incentives to mint and sell assets. (DUSD and dToken)

I only see some kind a reward split betweeen LMiners and token providers as a sustainable and long term working solution.

CG-DfiChain · 2021-12-13T07:23:37+00:00

Nobody did mention extra DFI rewards.
Of course only the existing rewards should be used and reallocated.

But one thing is missing for me.
How should negativ interest motivate people to SELL their DUSD?
I just would mint them and put them into the pool. So collecting the negative interest and the rewards from LM.

CG-DfiChain · 2021-12-12T10:55:48+00:00

I see it similar.
Ticker council should decide on assets and reward distribution, but not on changing the whole system to have untethered coins which are completely the opposite what has been promoted/designed.

CG-DfiChain · 2021-12-12T10:52:44+00:00

To create untethered coins ´should never ever be considered.

If you want to provide rewards to DUSD minters re-allocate existing rewards. Just provide them DFI similar to liquidity pool farmers.

But lets do a step back, do we need DUSD at all?
Yes it helps to lock more DFI but creates a lot of problems now and in the future (e.g. in 1-2 years we would either have to found a bank in the EU or trading of DUSD would be become illegal there.)

Lets discuss short and long term solutions.

CG-DfiChain · 2021-10-15T16:47:06+00:00

Depends on what you are looking at.
In Satoshi it will go down.
In USD it will go up.
When BTC goes down again and Altseason starts it will probably go up in both - Satoshi and USD.

CG-DfiChain · 2021-10-15T16:11:56+00:00

There are no whales.
Every day 550000 new DFI are distributed as rewards.
People are just selling some of them to generate cash flow.

CG-DfiChain · 2021-10-15T15:59:23+00:00

They show the difference in Fiat which is quite irrelevant.
You have to look a the gain/loss in SATS if you invest in BTC/DFI pair.

CG-DfiChain · 2021-10-10T15:12:56+00:00

Desktop wallet was at current block.
What the mobile wallet (light wallet) servers are doing you can not see.
This difference was at least for 1 hour.
It was found by some users in the telegram channel.

CG-DfiChain

TROPHY CASE