[POLL] For Fun: When 500 Million Dai?

With the recent ETH-A vault debt ceiling increase we are within striking distance of 500 million DAI (and the half-Billy club!). Take a break from responsible governance with some harmless speculation:

When 500 Million DAI?

  • 0-5 Days
  • 6-10 Days
  • 11-15 Days
  • 16-20 Days
  • 21-25 Days
  • 26-30 Days
  • More than 30 Days
  • Never, we are at peak DAI supply, thanks for jinxing it
  • Abstain

0 voters

Poll will close when 500 Million DAI is reached. Winners will receive my admiration :smiley:

1 Like

I just realized that if there is enough participation, this would serve as a kinda of oracle, and help us prepare for more debt ceiling increases! #nextlevel

6-10 days? I want what you guys are smoking.

Mostly yield :wink:

Every marginal increase should be slower, unless everyone is a happy gambler :joy:

A better question would be: When 1B DAI? I think that will happen when ETH is $1000.

500 Million Dai!! :heart_eyes: :rocket: :tada:

The popularity of yETH is largely to be thanked (which was just an idea two weeks ago).

My permanent admiration goes to the visionaries for seeing so clearly into our future @Jiecut @Aaron_Bartsch @LongForWisdom @tbone @befitsandpiper @chonghe.

Tip of the hat to you all!

When one billion?

6 Likes

With 1B, the peg will be better than with 500M but more important question is when do we go global (EUR, JPY, CNY…)?

It also seems that DAI will become something like BTC - a protocol that doesn’t change (improve) much / a store of value that you hodl and don’t use for payments. For payments and trading you will use L2 solutions and other coins referencing DAI.

The peg will be influenced mostly by MCap and the market sentiment - the rates that the governance defines will become more and more useless.

We saw with the yield farming how easy is to (at least temporarily) disrupt the market leaders. I’m not sure DAI can survive as “BTC” in the ethereum DeFi ecosystem.

Do not forget @banteg who is the glue to bring all things for yETH together.

And side note- I hope MKR holders vote in favour of accepting YFI as collateral to mint Dai :slight_smile:

2 Likes

There’s no reason you can’t use DAI on an L2. I really don’t think that Maker is anywhere close to ossifying like BTC has.

There is a difference between not moving as fast as someone else, and moving slowly.

What I think we’re seeing with Maker is that protocol-level changes happen slowly. This is good, because every change introduces additional smart contract risk to a protocol with over 1.5 Billion dollars worth of value locked inside it.

However, use of the current protocol is actually pretty fast. Even if we only onboard 2 collateral types a month, that averages to one every two weeks. That’s quick compared to almost anything other than the insanity that is DeFi right now. It’s only going to ramp up further as the processes become more efficient and the budget and personnel directed towards onboarding increases.

5 Likes

I think it’s likely Maker/DAI on L2 will happen sooner than you think :wink:

2 Likes

ser when are you deploying MakerDAO Jr to xDAI? :smile:

1 Like