This MIP6 is a new landmark in DeFi and showing how DeFi and TradFi are merging together to create Finance 2.0.
Need to thanks @Growth-Core-Unit for the amazing work. I joined only at the end.
On a risk side, this deal doesn’t have a good risk/reward, you can see LIBOR 1 week, it’s not much. Risk is super low on the collateral (AAA, quite a good haircut even taking in account the currency risk, as safe as it gets) but there is always an execution risk and there will be quite a bit of work.
This collateral should be seen as step 1 of what is next to come. Integrating all publicly traded bonds (that will be on Ethereum as we all know) and providing repo. Quite a huge market.