Minimum debt on MakerDao

I was just trying out Oasis for the first time to see if I could borrow small amounts of Dai via Makerdao and saw that the minimum debt is a whopping $10K worth of Dai creat ed…does anyone have any advice on what could be done here? https://9apps.ooo/

Also, what kind of solutions is MakerDao looking into for this? Feels like this is going to be leave out a lot of people who don’t have that kind of money to just put away at hand.

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It’s primarily a gas price issue.

The concern is that if gas costs are too high then debt auctions will be less attractive if a vault needs to be liquidated. This could result in the protocol losing money.

The most recent thread examining this is here:

That said, if the ETH POS merge is successful and gas costs reduce then we may be able to review this. However, there is an uncertaim timeline on this at present.

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I’d add that in the future we’ll be able to mint DAI on an Ethereum’s L2, reducing costs even more. I could imagine this minimum be set to 50-100 by then

More info:

You can use other lending protocols, which also have good advantages for that, you deposit your ETH and use it as collateral to borrow DAI.

And the ETH does not stop earning you interest.

You have that in the system because of the price of gas, plus the operational costs of maintaining those vaults.