MKR will be eligible collateral for the FIAT DAO Jubilee program

Hi everyone,

I’d like to say hello from the team over at FIAT DAO! We’re building a new protocol that will serve leverage and secondary liquidity to fixed income asset holders across DeFi. While we’re still two months or so out from launching, we will be hosting a four-week long program aimed at attracting users from other projects to our fledgling community. MKR holders are now able to stake in this Proof-of-Capital program, referred to as the FDT Jubilee, and the first epoch begins Monday at 0:00 UTC.

We chose to target the Maker community because of our view on who’s in it, and our excitement over what FIAT can unlock for DAI.

  1. MakerDAO Community: The Maker community is the longest running in DeFi and has taught us all a ton about constructive debate, organizational best practices, and long-term thinking in this space. We hope to earn the respect of this community and would hope to see participation in our own from the members here.

  2. FIAT DAO Value Proposition: While FIAT will be minted as a debt position against collateralized fixed income assets, it’s not seeking to be a stablecoin. Rather, it will serve as an index on the assets backing it - in other words, its price will deviate from $1 in accordance with prevailing interest rates relative to the interest rates of the assets in its vault. Any user will be able to redeem FIAT in order to pay off their debt, or claim the cheapest to deliver asset in the system. At scale, we hope this will a) drive demand for DAI-denominated fixed income assets, and b) provide a diversified form of collateral to be used by the MakerDAO system.

To learn more about our proposed system, please check out our second article (please note, we’ll be a bit mum on the exact workings until the implementation goes to audit): $FIAT, What Is It Good For?. How $FIAT fits into the wider DeFi… | by Maximilian Fiege | FIAT DAO | Oct, 2021 | Medium

To learn more about the Jubilee program and you how you can earn $FDT simply by staking your $MKR, please see here: https://twitter.com/fiatdao/status/1456323172249243651?s=20

I’ll be happy to elaborate on any questions you may have here, and please feel free to join us on Discord as well: FIAT DAO

5 Likes

What are the addresses of your smart contacts?

The overall staking contract which holds deposited assets:

The respective contracts that control reward emissions:

And the associated audit: BarnBridge-YieldFarming/BarnBridge-Yield-Farming-and-Incentivization-AUDIT.pdf at master · BarnBridge/BarnBridge-YieldFarming · GitHub