"MakerDAO" TAG

Algorithmic Stablecoins: Value Propositions and Performance Indicators Beyond Peg Maintenance
  • research
Prior to the highly-publicized increased institutional interest in Bitcoin the blockchain industry is currently experiencing, much of the general public’s attention being paid to distributed ledger-based assets was drawn by stablecoins. The rapidly expanding asset class has drawn both praise and resistance from those assessing its potential role in the greater financial ecosystem, with proponents...
Contextualizing the STABLE Act
  • research
In the summer of 2019, Mark Zuckerberg testified before the U.S. House of Representatives, facing nearly-unanimous and atypically bipartisan criticism from legislators related to Facebook’s leading role in the development of the Libra stablecoin. The Libra network and digital asset—whose credentials as a blockchain and cryptoasset, respectively, have been perhaps appropriately criticized—were intended to facilitate...
Improvements to Buy-and-burn Token Models
  • research
In a recent article on Bankless, Jon Itzler, a researcher at the venture capital firm Accomplice, discussed how he reasons about token value flows in the context of blockchain protocols. Among other points, Itzler critically evaluates the standard buyback-and-burn model used by protocols. Citing Maker as an example, he argues the protocol has underserved MKR token holders...
MakerDAO and Community-led Governance
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The Maker announcement suggests the project’s security and long term sustainability depend on successfully transitioning to community-led governance and was quickly followed April 6th with the circulation of 13 ‘Maker Improvement Proposals’(MIPs) designed to elicit discussion and counter-proposals on the foundational processes for its governance system. The Maker Foundation’s plans for leadership transition are notable for several reasons.On...
2019 Review: DeFi
  • research
As previously discussed by Smith + Crown, the significant majority of growth in the DeFi space is attributable to lending protocols, most notably Compound, as well as stablecoin projects such as MakerDAO that effectively function as a margin lending protocol for ETH holders. Particularly towards the end of the year, increased asset issuance from Synthetix...
Measuring Ethereum DeFi Growth
  • research
One of the major industry developments in the past year is the emergence of ‘Decentralized Finance’, or DeFi, applications that seek to offer alternatives to various traditional financial and banking services, such as lending, through a disintermediated, open protocol. The vast majority of DeFi projects are built on Ethereum smart contracts and use ETH, primarily...
Distributed Governance: Beyond Token-based Voting
  • research
While Melonport and DAOstack’s particular criticisms are not unprecedented, the launch of Melonport’s DAO and project’s trialing of Alchemy’s adoption are indicative of the industry’s willingness to experiment with novel modes of governance. DAOstack’s Alchemy toolset, which allows organizations to reward or revoke non-transferable reputation to individuals (i.e. Ethereum addresses) on various configurable bases, resembles...
MakerDAO
  • research