After using binance smart chain (bsc) the last couple days. The bsc venus and pancakeswap are the equivalent of aave, makerdao and sushiswap. The transaction fees in the pennies and dimes in lieu of tens even hundreds of dollars on ethereum have changed my view on bsc and other potential side chains/platforms Their exponential growth are reflected in their total value locked (tvl) per defistation.io.
In my opinion, the reason that makerdao thrived the past year was due to lack of competition. However as other chains have picked up steams and tvl, makerdao seems to slow to react due to the extreme high fees on the ethereum network at the moment.
I love ether for its decentralized and want it to succeed, but its really expensive right now and over 90% of the potential users cant use ethereum network due to fees cost. For normal folks they could care less about decentralized when its out of their reach. Also nobody can said for a certain that eth will beat out all other platforms in the future, or become the next blockbuster or blackberry.
Even with 1000x increase in tps are not going to support the whole ecosystem in the future. Even if eth won out, there will still be other side chains/platforms to pick up the slack.
The synergy of maker platforms across multiple platforms will bring other competective advantages to usd and euro dai.
Therefore, i would like to propose makerdao should agressively invest and expand the maker protocol onto other chains/platforms. An idea could be that Mkr tokens will own 100% of mkr protocol on ethereum network, and 40% of bsc mkr, cardano mkr, xdai mkr, dot mkr, etc… The other 45% to be used for attracting yield farmimg and dai generation, and last 15% for team expenses.
Eventually the 40% or so fee from other mkr protocols could greatly increase the mkr token burn rate and value.