MakerDAO has recently tested and implemented the DAI Direct Deposit Module (D3M) as outlined in MIP50. This has allowed for Maker to directly inject DAI liquidity onto the Aave market, and has been successful in generating both DAI yield and stkAAVE for the Maker Protocol. The initial debt ceiling of 10m DAI was increased to 40m on November 15, and again to 100m on November 29. To date, Aave has been the only implementation of the D3M.
GFX Labs, in consultation with the @Growth-Core-Unit and prominent Compound community members, is signaling to prioritize onboarding a D3M for the Compound DAI market.
- More revenue
- Diversified counterparty risk
- Demonstrates the MakerDAO does not favor Aave
- More risk of targeting interest rates having adverse effects on the peg
- Additional smart contract risk from adding another counterparty platform
In the event this signal is successful, Maker will prioritize the implementation of a Compound D3M at parameters recommended by the core units involved in that process.
This Signal Request will close on 2021-12-17.