I would like to offer my full support to ideas like this, which ensures that we don’t price out users.
I hope to get support from MKR holders to solutions like this Bite-Rebate contract for keepers acting on small vaults. I’m not sure how much would be enough for our risk team to feel that we have with it offset those important risks we have with small Vaults. Maybe there are still some others solutions out there which could be easily implemented as well, but if this is our best shot it has my full support.
If a solution well prepared and analyzed and easy to implement like this goes on-chain and MKR holders oppose to assign a small percent of the Surplus Buffer in order to keep small Vault owners in our system, I hope that some of us like B.Protocol team be happy to support this cause. I’m happy to donate 1k DAI as well to support this initiative if that’s what is needed.
I’m also supporting here all those who are in this moment learning about DEFI, and those who will learn about it later. I have too many good friends in Latam who have in last months ask me to share “my knowledge of DEFI”, I’m not that knowledgeable; but for many out there, creating a wallet in Metamask, understanding the current dapps, understanding what is getting loans to keep your exposure to ETH, leverage positions and many other things that DEFI offers now is “a very complicated matter”. I’m talking here of people well instructed, even many of them with deep understanding of programming… even though “DEFI is a complicated matter”, “to participate in DEFI you need to study a lot”, and for many of them “DEFI is simply a space that only reach people can use” (biggest issue being here GAS prices of course).
I’ve done some “webinars” and the first thing I’ve always shown is how to open a Vault in MakerDAO (typically using defisaver.com or Instadapps). Last month I had similar talk, and the 500DAI dust was something that I didn’t mention in that presentation… later when some of them tried out by themselves, they gave up completely when they knew they had to give their first steps with thousands of dollars instead that with the 100 they wanted to experiment with.
Most of the people who give their first steps in DEFI, do it with a few bucks, this is not about how rich or not they are, it is that they don’t want to risk their monthly salary in something they don’t understand very well. Sadly, we’re debating a topic here which will not even give them that possibility to learn.
I completely respect your point of view on the matter @Joshua_Pritikin, but for me this has deeper implications, IMHO this translates to: “we should not encourage them to interact with MakerDAO”. I’ve loved MakerDAO since I learned about it, and I really want to talk about it to others, to mention what it could be for the future of the financial system, for the future of the world in fact. We’re not simply not encouraging small investors, we’re not encouraging the new wave of “DEFI users” to learn about us, to come to this forum and propose ideas, we’re in fact with what is being discussed in Signal Request to Increase the Dust Minimum closing ourselves to a fluent wave of new members, skilled and valuable people that will add immense potential to our community.
In fact, I entered this forum because I opened a Vault!, and I opened a Vault cause Maker was the first saving/lending platform in every list. I really would like to keep that door open, and would like to continue talking about MakerDAO to the commoner in 2021, this could be a very important year for DEFI, if the first thing users see is Compound and Aave for earning interest and borrowing stablecoins, I really think that we’ll loose our current position, our inflow of good and skilled people, and maybe even our complete DAO…
As @ElProgreso recommended to all of us: Stay Grounded Maker Community. Stay Grounded, which translates to an important phrase in my natal country: “No dejemos que la fama se nos suba a la cabeza”.