Real World Assets in DeFi $10B to $100B+ DeFi Market Cap

Real World Assets in DeFi $10B to $100B+ DeFi Market Cap

By CPix | Everything Crypto | 5 Oct 2020


RWAs in MakerDAO

From looking at the MakerDAO community forum it appears as though MakerDAO will soon be onboarding Real World Assets (RWA). There have been a couple MIP6 proposals to onboard traditional real world assets into the MakerDAO system to help bring the DAI peg back to $1. Right now there are over $850,000,000 worth of DAI in existence, all over collateralized with digital assets such as ETH and USDC. A few of these real world assets potentially to be added as collateral options are as follows:

  • ConsolFreight, Financing freight invoices, Capital needs in DAI: up to 5M, Current Cost of Capital: they have a bank line of credit at 1.5% for $50k, MIP6 1

  • New Silver: Financing real estate backed loans, Capital needs in DAI: 15M, Current cost of Capital: NS holds a private fund credit line of $20M with a 3MO LIBOR +4.75%, MIP6 2

  • Paperchain, Financing music streaming invoices, Capital needs in DAI: 1M, Current cost of capital: sourcing from independent investors and funds at 6-10% range, MIP6 3

  • KickFurther, Financing consignment inventory for eCommerce & retail brands, MIP6 application to follow

  • Harbor Trade Credit, Financing short term trade finance transactions MIP6 4

Credit Application Token MIP6

Centrifuge Declaration of Intent MIP13c3-SP5

Market Turmoil

This past week was everything but boring it both the traditional markets and crypto markets. Not only was Donald Trump diagnosed with Covid but it was also serious enough for him to be transported to Walter Reed Hospital. Fortunately, he seems to be doing “very well” and will soon come back to the White House. This combined with a possible approval of a new Stimulus Package this weeks should add some fuel to stock market gains. On the crypto side of things, at the beginning of the week Kucoin confirmed it had been hacked to the tune $204 million in various forms of cryptocurrency including Bitcoin, Litecoin, Bitcoin SV, XLM, XRP, SNX, and numerous others. Some of the ERC20 tokens were “dumped” on Decentralized Exchange Uniswap due to its permissionless trading capabilities. If that wasn’t disastrous enough, the DoJ and SEC charged Bitmex (Foreign Derivatives Exchange) for money laundering and unlawful operation of an exchange. Even with all this, Bitcoin’s price declined a few percent but has recently recovered most of its losses.

Market Update (Monday 9:30 AM ET)

Percent Change (Rounded) Based on Last Monday Open (9:30 AM ET)

Bitcoin- $10,705 (-1%)

Ether- $352 (-3%)

Gold- $1,915 (+2%)

DJI Average- 27,825 (+2%)

NYSE Composite Index- 12,842 (+2%)

NASDAQ Composite Index- 11,169 (+1%)

S&P500 Index- 3,367 (+1%)

New Developments

  1. Gemini enables Zcash shielded transactions, Gemini

  2. Fintech Giant Plaid Has a Hidden Passion for DeFi, CoinDesk

  3. Grammy winning artist releases $RAC token, Zora

  4. Liquidity Bootstrapping Pools, Messari

  5. New blockchain-based EY OpsChain Network Procurement solution, EY

  6. Filecoin: Announcing Mainnet Ignition and Liftoff!

  7. ConsenSys Mesh: Teams, Products, Investments advancing Ethereum & Web3

  8. Developer links Tesla API with Chanlink oracles, devpost

  9. CFTC, DoJ file charges against owners of crypto derivatives exchange BitMEX

  10. How someone was able to profit $1M+ with Andre Cronje’s latest contracts

    bkiepuszewski.jpgBartek Kiepuszewski @bkiepuszewski If you are confused how the hacker managed to drain $EMN contract, here’s the exact mechanics of what happened:

    September 29th 2020

    123 Retweets415 Likes

Industry Insights

For Developers

  1. Scan the Ethereum Mempool for pending transactions, Block Native

  2. Instant Retro UI for Smart Contract Developers

  3. Libra’s Native Move Language White Paper, Libra Foundation

  4. Undeflow solidity trick, Ross Campbell

    r_ross_campbell.jpgRoss Campbell @r_ross_campbell so, if I read this, right "uint256(-1)" is a trick to cause an underflow and populate max value?? was first instance of this trick in wETH?

    September 28th 2020

Blockchain Activity

Create the simplest form of a cryptocurrency on Ethereum:
*Tools: Metamask (Wallet), Remix IDE (Development Environment), Solidity (Smart Contract Language) Ethereum (Blockchain)

# set pragma

pragma solidity >=0.5.0 <0.7.0;

# contract (Source)

contract Coin {
    address public minter;
    mapping (address => uint) public balances;

    event Sent(address from, address to, uint amount);

    constructor() public {
        minter = msg.sender;
    }

    function mint(address receiver, uint amount) public {
        require(msg.sender == minter);
        require(amount < 1e60);
        balances[receiver] += amount;
    }

    function send(address receiver, uint amount) public {
        require(amount <= balances[msg.sender], "Insufficient balance.");
        balances[msg.sender] -= amount;
        balances[receiver] += amount;
        emit Sent(msg.sender, receiver, amount);
    }
}

Earn Opportunity

Coinbase Earn added Maker to their Learn to Earn campaign. Any Coinbase user can now get added to the waitlist and select users can earn right away!


CPix
CPix

Goal is simple. Speed up mass adoption!


Everything Crypto
Everything Crypto

In this blog I cover major public blockchain developments, cryptocurrency shifting from speculation to utility, and personal opinions as to how the space will develop going forward.

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