DAI's Metamorphosis Journey
Editor's Note: This article comes fromEthereum enthusiastEditor's Note: This article comes fromMediumEthereum enthusiast
(ID: ethfans), Author: Kyle J Kistner Original text from
Editor's note: This article is about a series of financial products with DAI in the name that appear on the Ethereum network, which can be regarded as financial derivatives of the stable currency DAI. In my opinion, this article can be regarded not only as a glimpse into new DeFi products, but also as an empirical study on the "combinability" of Ethereum.
DAI
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xDAI
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iDAI
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cDAI
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rDAI
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gDAI
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dDAI
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LSDai
LSDai is a DAI interest rate derivatives market built on the Market Protocol and rDai. It debuted at ETHBerlin. LSDai creates a structure similar to the Euro-dollar, that is, futures on the Compound Dai deposit rate during the duration of the contract. This is achieved using the Market protocol, which allows the construction of index futures through the "iron-cross option". LSDai decouples the risks of both parties through bullish and bearish tokens [4]. You can try it on lsdai.market.
IdleDAI
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SwanDAI
IdleDAI is a DAI used as a rebalancing mechanism for tokenized DeFi. IdleDAI was born during Gitcoin Beyond Blockchain. After depositing your DAI into the Idle contract, you can receive IdleDAI, and then your DAI will be automatically lent to lenders in the Fulcrum or Compound market, depending on which market has the highest deposit rate. IdleDAI is a token, so it can be easily combined with other protocols. You can learn more at Idle.Finance.
- New Logo by Nassim Taleb -
iSwanDAI
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Aztec Note
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zkDAI
Aztec Note is a special form of DAI that guarantees the confidentiality of the sender, receiver, and transfer amount. Aztec uses zero-knowledge proof to achieve this, but it is not ZK-SNARK technology, but an algebraic zero-knowledge proof, which uses Boneh-Boyen signature to create a commitment mechanism, in each commitment An efficient range proof is embedded. This makes Aztec Note a practical and gas-saving confidential transaction. Learn more here, or visit aztecprotocol.com.
- i like to pretend it's an ouroboros -
pDAI
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aDAI
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nmDAI
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wxDAI
nnmDAI can integrate the risks of Nexus Mutual into iDAI, IdleDAI or cDAI. This makes it a risk taker that hedges against the risk of a smart contract being hacked. The product is still at the theoretical stage and has not yet been developed. Hugh Karp pointed out that there are still some issues that need to be resolved in the protocol before it can actually go live.
weDAI is a packaged xDAI running on the Ethereum mainnet as an ERC20. xDAI is the native token on the xDAI chain, but it is issued on the xDAI chain by the DAI counterpart locked on the Ethereum mainnet. If the user returns xDAI with the xDAI chain bridge, these xDAI will be destroyed, and then the corresponding amount of DAI will be unlocked. If the user uses the wxDAI chain bridge to transfer xDAI, these xDAI will be locked on the xDAI chain, and then a corresponding amount of wxDAI will be released on the Ethereum mainnet. When wxDai is unlocked, its quantity is 1:1 with xDAI and 1:1 with DAI.
yDAI
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MetaDAI/MaxDAI/rfDAI
Proposed by Paradigm's Dan Robinson, using yDAI allows you to take advantage of bullish assets that use DAI as a unit of account. Buying yDAI on the other hand is equivalent to lending funds to collect interest. One downside of yDAI is that it is not permanent and must periodically roll over interest. The difference between its current price and the maturity price reflects its real interest rate, allowing us to construct the first yield curve in DeFi.
