Podcasts about makerdao's dai

In the aftermath of the so-called "Black Thursday" crash from several weeks ago, MakerDAO's "DAI" ethereum backed dollar pegged stablecoin came untethered and was, for a time at least, functionally insolvent. In the aftermath, holders of the MKR token which allows holders to participate in governance decisions opted to do a couple of things, including adding the centralized stablecoin USDC to the list of acceptable collateral, which drew both condemnations mostly around centralized risk being added to the system and praise for making the system more robust against sudden ETH collateral price crashes.And now most recently, the Maker Foundation which had held some centralized control over the protocol completed their long-planned exit with all authorities now transferred to the holders of MKR tokens, removing both a point of control which had been used as a safety check and a point of risk in that centralized control can be co-opted and used to disrupt a system as we've seen in other examples.On today's show we're digging into:What is Decentralized Finance (DeFi)?How does decentralized finance differ from traditional banking?Fractional reserve vs over-collateralized loans Liberty Dollars’s missing collateral and USDC’s risky nameMakerDAO, DAI dollar-pegged stablecoins and how this DeFi stablecoin actually worksSDAI (Single Collateral DAI) vs. DAI (Multi Collateral DAI)Smart contract ‘vaults’Lending money to yourself: 150%, 300%, insurance and auctionsWhat happened on ‘Black Thursday’ as the price of Ether dropped more than 50%What happened when transaction fees went through the roofA bug in the collateral auction smart contractA surprising crash: as the system became functionally insolvent the price of the dollar pegged stablecoin actually went up.Oasis.app vaults are transparent, take a look!Loaning yourself money using your ether (at interest)How MakerDAO’s approach differs from SALT LendingThe other half of the DAI system: saving vault smart contractsDAI Saving Rate (DSR) and the new certificate of depositThe reward for using MKR tokens to administer a good systemCan savings vaults be liquidated?Smart contract risks, consensus risks, systemic risks and response time risksSponsors: eToro.com and Purse.ioWhat specifically went wrong with the auction smart contracts?Recapitalizing the system by diluting MKR governance stakeholdersEven with bugs, market mechanisms to fill the solvency hole seemed to work better than government bailout equivalents.Completing the transition from foundation-overseen to full tokenized governance.Decentralization transition - A necessary step or a natural one?Single collateral vs. Multi-collateralWhy would a decentralized stablecoin want to allow a centralized stablecoin for collateral?External political risks vs. internal technological risks“Life finds a way” and DeFi’s natural circuit breakers (also Mt.GOX)Whats the point of putting USDC in to get DAI out?How does DeFi insurance work?A modular ecosystem How DeFi and traditional finance are similarDeFi vs. 2nd layer protocols

In the aftermath of the so-called "Black Thursday" crash from several weeks ago, MakerDAO's "DAI" ethereum backed dollar pegged stablecoin came untethered and was, for a time at least, functionally insolvent. In the aftermath, holders of the MKR token which allows holders to participate in governance decisions opted to do a couple of things, including adding the centralized stablecoin USDC to the list of acceptable collateral, which drew both condemnations mostly around centralized risk being added to the system and praise for making the system more robust against sudden ETH collateral price crashes. And now most recently, the Maker Foundation which had held some centralized control over the protocol completed their long-planned exit with all authorities now transferred to the holders of MKR tokens, removing both a point of control which had been used as a safety check and a point of risk in that centralized control can be co-opted and used to disrupt a system as we've seen in other examples. On today's show we're digging into: What is Decentralized Finance (DeFi)? How does decentralized finance differ from traditional banking? Fractional reserve vs over-collateralized loans Liberty Dollars’s missing collateral and USDC’s risky name MakerDAO, DAI dollar-pegged stablecoins and how this DeFi stablecoin actually works SDAI (Single Collateral DAI) vs. DAI (Multi Collateral DAI) Smart contract ‘vaults’ Lending money to yourself: 150%, 300%, insurance and auctions What happened on ‘Black Thursday’ as the price of Ether dropped more than 50% What happened when transaction fees went through the roof A bug in the collateral auction smart contract A surprising crash: as the system became functionally insolvent the price of the dollar pegged stablecoin actually went up. Oasis.app vaults are transparent and pretty interesting, take a look! Loaning yourself money using your ether (at interest) How MakerDAO’s approach differs from SALT Lending The other half of the DAI system: saving vault smart contracts DAI Saving Rate (DSR) and the new certificate of deposit The reward for using MKR tokens to administer a good system Can savings vaults be liquidated? Smart contract risks, consensus risks, systemic risks and response time risks Sponsors: eToro.com and Purse.io What specifically went wrong with the auction smart contracts? Recapitalizing the system by diluting MKR governance stakeholders Even with bugs, market mechanisms to fill the solvency hole seemed to work better than government bailout equivalents. Completing the transition from foundation-overseen to full tokenized governance. Decentralization transition - A necessary step or a natural one? Single collateral vs. Multi-collateral stablecoins Why would a decentralized stablecoin want to allow a centralized stablecoin for collateral? External political risks vs. internal technological risks “Life finds a way” and DeFi’s natural circuit breakers (also Mt.GOX) Whats the point of putting USDC in to get DAI out? How does DeFi stablecoin insurance work? A modular ecosystem How DeFi and traditional finance are similar DeFi vs. 2nd layer protocols Credits Hosts: Adam B. Levine, Andreas M. Antonopoulos, Jonathan Mohan & Stephanie Murphy Sponsors: eToro.com and Purse.io Music: Jared Rubens and GurtyBeats Editing: Jonas

Binance blocks US customers: “Binance is unable to provide services to any U.S. person.” Visa, Mastercard, PayPal, Uber back Facebook’s new cryptocurrency Samourai wallet to add privacy to Lightning Wasabit wallet just coordinated a 100-person coinjoin, possibly biggest one ever Iranian Energy Minister: "energy used by cryptocurrency miners in Iran should be charged in real prices and not be subsidized by the government." Philippines Central Bank warns about cryptocurrency: "There cannot be a total disregard for a central bank or a third party that provides lender of last resort facility.” Fun coindesk article about new Catholic Crypto: https://www.coindesk.com/former-us-senator-rick-santorum-supports-new-crypto-for-catholics Former US Senator Rick Santorum Supports New Crypto for Catholics John McAfee’s launches new platform called "magic" Justin Sun changes Warren Buffett lunch location to San Francisco Insurance company refuses to insure crypto mining rigs Coinbase adds MakerDao's DAI to its Earn program. Crypto community tracks stolen binance money as it moves across wallets Video: https://youtu.be/WJmL8mo6XSU

Ryan Todd and Matteo Leibowitz, research analysts at The Block, discuss why Dai has fallen below $1 in price, how the community has attempted to keep it pegged to $1 and how well that's been working. They also describe what the governance system looks like, how high participation is, and whether or not that's decentralized. And since 2% of al, ETH is locked up in Maker CDPs and Dai is the fuel behind the DeFi movement, we look at what type of role and risk it plays in Ethereum and the overall DeFi system. Thank you to our sponsor! CipherTrace: http://ciphertrace.com/unconfirmed Episode links: Matteo Leibowitz: https://twitter.com/teo_leibowitz Ryan Todd: https://twitter.com/_RJTodd The Block: https://twitter.com/theblock__ March 15 governance call report: https://www.theblockcrypto.com/2019/03/15/makerdao-governance-risk-call-march-14-stability-fee-hike-post-mortem/ March 21 governance call report: https://www.theblockcrypto.com/2019/03/22/makerdao-governance-call-march-14-despite-0-75-supply-decrease-dai-continues-to-trade-down/ Unchained interview with Rune Christensen of MakerDAO, part 1: https://unchainedpodcast.com/rune-christensen-of-makerdao-part-1-how-to-keep-a-crypto-collateralized-stablecoin-afloat/ Unchained interview with Rune Christensen of MakerDAO, part 2: https://unchainedpodcast.com/rune-christensen-of-makerdao-part-2-how-dai-stayed-at-1-while-eth-crashed-from-1400-to-85/ Unconfirmed podcast with Rune Christensen of MakerDAO on its investment of $15 million from a16z: https://unchainedpodcast.com/rune-christensen-of-makerdao-on-its-15-million-from-andreessen-horowitz-ep-039/ Unchained podcast on why it's so hard to keep stablecoins stable: https://unchainedpodcast.com/why-its-so-hard-to-keep-stablecoins-stable/ Unconfirmed interview with Uniswap, another DeFi project the utilizes Dai: https://unchainedpodcast.com/how-uniswap-quickly-became-one-of-the-most-popular-dexes/ Unconfirmed interview on earning money on collateral in DeFi: https://unchainedpodcast.com/how-to-earn-money-on-collateral-in-defi-and-why-thats-risky/  

A show with friends about cryptocurrency news and beer! Find us on Twitter & Facebook @cryptobrewshow YouTube: https://youtu.be/lU81WkTv4c8 "Headliners" News 1: Fidelity Is Launching a Crypto Trading Platform https://www.coindesk.com/fidelity-reveals-cryptocurrency-and-digital-asset-trading-platform/amp/ News 2: Coinbase Unexpectedly Adds ZRX https://cryptoinsider.com/coinbase-unexpectedly-adds-zrx/ News 3: MakerDAO's Dai on Wanchain Becomes First Ever Cross-Chain ERC20 - Beta Testnet Now Open https://medium.com/wanchain-foundation/https-medium-com-wanchain-foundation-makerdao-dai-on-wanchain-727b0b95df19 News 4: Which Stablecoin Is the Riskiest? The Crypto Market Is Pricing That In https://www.coindesk.com/which-stablecoin-is-the-riskiest-the-crypto-market-is-pricing-that-in/ News 5: OKEx Adds Four Stablecoin Pairings to Give Traders More Choices https://www.livebitcoinnews.com/okex-adds-four-stablecoin-pairings-to-give-traders-more-choices/ Relevant Links from show: CoinCheckup - coincheckup.com/ BitScreener - bitscreener.com/ Beer of the Week: Harvest Pumpkin Wheat Blue Moon www.bluemoonbrewingcompany.com/

Following Tether (USDT) losing its peg to the USD and dipping to $0.92, we have the Founder and CEO of MakerDAO Rune Christensen on the podcast to discuss MakerDAO's Dai stablecoin and the MKR token.  The conversation deep dive into how the MKR system works, how Dai maintains its peg, Andreessen Horowitz's investment in MKR and the future of the system.   - Dai vs Tether; how Tether will be replaced eventually   - An update on multi-collateral Dai. There will be multiple collateral types for Dai including even security tokens.   - How other stable coins complement Dai (on-ramps, off-ramps, Dai is the bridge between other stablecoins)   - Stablecoin use cases (finance, dApps, remittances)   - How MakerDAO’s token holders are actually in control of the network today (MKR).   - Discussion on Dai’s stability mechanisms and the future ways to make Dai even more stable (Dai savings rate account adjustments)   - The game theory aligning MKR token holders with the growth of the platform and Dai.   - What a16z brings MakerDAO, their purchase of 6% of MKR tokens and their lockup period. @katie_haun   51percent's Deep Dive and Valuation Model on MakerDAO   Add your email on 51pct.io for our extensive research reports. 51percent's Institutional Crypto Podcasts are to the point discussions with crypto leaders for analysts, funds and institutions. Make sure to add your email on 51pct.io Disclosure: Tom Shaughnessy owns tokens in ETH and MKR, and does not own Dai. This podcast is NOT investment advice and is only informational. Do not make investment decisions based upon this podcast. MakerDAO did NOT compensate Tom Shaughnessy or 51percent Crypto Research for this podcast.