Growth and Risk CUs talked with Circle.
Circle offers a Yield Account with fixed terms, using Genesis as a lending partner. The added value of Circle is to provide an overcollateralized loan with Bitcoin. To access Circle’s yield account, the lender (MakerDAO) must be an incorporated entity to pass through KYC and sign the Line of Credit Agreement.
Some questions raised after our conversation with Circle:
- If we lend them 1B USDC, does that change the yield? → No, scaling won’t change the terms. The Genesis market is massive.
- Do we want to incorporate a company to lend USDC?
- If so, what should be the next steps?
We also talked with Syndicate Protocol.
Syndicate is helping companies (VCs) to create DAOs to manage their investments through a DAO. During this process, they developed a framework to create legally compliant DAOs for sharing equity.
Now they want to work with DAOs to help them to be more compliant and allow them to interact with the off-chain world:
- They can help DAOs to set up entities with on-chain ownership. These entities can have access to different service from the TradFi world (like a bank account)
- They work with DAOs to help them to diversify their treasury, opening brokerage accounts to invest their crypto funds in instruments that protect them from inflation, like bonds.
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