Money view of the MakerDAO/Morpho/Ethena drama
Crypto-twitter is all the rage on the MakerDAO/Morpho/Ethena combination that may result in up to $1B of MakerDAO’s balance sheet
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MakerDAO
Stablecoins: currency or credit?
We will analyze the difference between money-like credit and a currency. Then we will try to understand how such a dichotomy related to the stablecoin construct, in particular DAI, the MakerDAO stablecoin.
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The history of a DAI at par value
Summary Introduction MakerDAO introduced DAI with a target price of 1 US Dollar. As we will see this quest for
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MakerDAO — Borrowers concentration analysis
Summary Borrower concentration at MakerDAO is increasing over time 3 borrowers are currently ~55% of our crypto-loans exposure and ~60%
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