Preamble: The explosive growth of the NFT market continues with the recent success of CryptoPunks, Hashmasks, NBA TopShots, and also by attracting the interest of artists and art lovers. The recent chatter on Crypto Twitter, Clubhouse, and other social media outlets leads experts to believe that NFT are here to stay and it will drive the growth of this ecosystem.
Context and Motivation
Not only is the NFT chatter about how Hashmasks raised over $15M+, but it’s also coming from Sneaker Designers, Musicians, Digital Content Artist, Creative Consultants, and underground Art Curators. If we take the narrative that the next Sneaker (shoes) Designer will have exposure to Trade Finance because of the need to maintain & finance their supply chain, protocols like Centrifuge will benefit tremendously as they already issuing NFTs via contracts that mint an ERC20 Token (DROP & TIN) that represent a security in an RWA pool.
As we all know, Centrifuge Chain supports the ChainSafe Bridge Pallet which enables users to securely move assets between Centrifuge Chain and Ethereum. With the recent rise in Ethereum Transaction Costs, many protocols are already working on building a Layer 2 solution, including Compound who is building Compound.Cash, Uniswap with it’s innovative move to a Layer 2 solution and Vitalik Buterin calling on Power Users to Move to Layer 2 Scaling.
Maker Community it is no secret that Layer 2 Scaling is more than 12 months away for MakerDAO. In fact, with the Load of Work that the current Core Units have on their plate, and the fact that we Do Not have a Layer 2 Core Unit (it would take 3-6 months to onboard) tells us that we must improvise. And the way we extemporize is by prioritizing the onboarding Centrifuge into the Maker Ecosystem.
It is my opinion that these Real World Asset Founders will have a need to use Maker via Centrifuge–by using a Product that is very powerful. And that product is staring right at us. I ask you, Maker Community–to push forward the ability for this DAO to push forward and onboard Centrifuge as soon as possible.
But Dude… Why did you need to wake up on a Monday Morning and Ramble about Prioritizing Centrifuge as a Layer 2??
Over the weekend I was overexposed by the appearances of Stani Kulechov the AAVE founder who is a brilliant mind. Not only is he perhaps the second most popular figure in the Ethereum Community ( behind Vitalik), but the man gets things done. He is a great ambassador of Ethereum. And I don’t know how he manages to get it done–and it does not matter–but I can tell you that I am he is positive when it comes to making shit happen. I can also tell you that he publicly said that he is talking to Centrifuge about onboarding their NFTs into AAVE. Meaning that we Maker Community, perhaps we are falling asleep at the wheel?
So, I ask–do you want to innovate Maker Community?
Or, do you want to play second fiddle?