Alternative slogan: Maker ETH ATH again
Currently, 42% of DAI is backed by fiat-backed stablecoins. Additionally, we are not super competitive with Aave/Compound. The last crash depressed lending rates and leverage seems on the fall. Institutions are coming strong so I don’t think rates will go back to double digits for a long time anyway. Liquidation 2.0 showed it’s working well.
I think this is an opportunity to push significantly rates down and do a marketing push at the same time. I would suggest that we push SF to 3% for ETH-A and WBTC-A and 0.5% for ETH-C for 3 months (the summer). Such commitment would be stopped if PSM-USDC goes below 500M (which is thought is a good buffer to have) as the DAI peg is of paramount importance.
We should still be profitable (I took 32M of expense from makerburn because the MKR compensation is really unclear yet anyway but that gives you an idea).
I made a quick spreadsheet here.
Taking such a bold move makes sense only if we are united as a community to push the campaign (otherwise we will end up in the worst case of the spreadsheet). We still have some funds in the interim multisig to pay for a design piece I guess.
The MOMC is meeting on Monday, so now is the time to influence