DAOUSDT
DAO Maker / Tether USD
crypto Composite

Maker was great when it was a simple immutable CDP contract that minted DAI with ETH collateral. Moving to multi-collateral DAI was a terrible move because at that point you’re just minting a stable with another stable… but at least MCD was still using immutable contracts. At this point SKY is a total shit show IMO. USDS, sUSDS, Spark, and Spark ALM all use upgradable contracts… and these aren’t simple contracts either we’re talking about >60,000 lines of code. On top of that you have the same contagion risks as AAVE, and you have to trust the DAO to manage collateral off-chain. It’s too much risk for too little reward. You can get similar returns elsewhere without having to worry about all that. Morpho Blue (for example) is only 650 lines of immutable code and the pools are fully isolated. There’s no contagion risk, no proxy contracts, no in-house oracles, and no off-chain collateral. It just doesn’t make sense to take 10x the risk to get an extra 1% APY.

Welcome people, today (well last night) marks the official birthday of Obsurfer a NFT marketplace for trading NFTs as part of a DAO. To be a part of the beta comment your interest below!
\\\*\\\*But why a DAO?\\\*\\\*
Being part of a collective enables you to share the risk in purchasing new NFTs, splitting the cost with fellow members. Together, you make decisions that affect each trade. No one person is responsible for the success of a trade and it takes the majority to win a proposal.
\\\*\\\*How do trades happen?\\\*\\\*
A token holder may sell an nft on the platform by submitting the details in the app. DAOs then execute proposals that turn into bids. DAOs bid against each other to get you the highest price for the NFT. Buying an NFT is simple. Select a DAO from the list and browse their wares, select on an NFT to buy.
\\\*\\\*Minimized Risk, minimized gain?\\\*\\\*
Shared risk, shared gain. The profit distribution is calculated based on how many shares you own. You choose how much to invest and in turn receive as profit.
\\\*\\\*There must be more to it?\\\*\\\*
Your stake in a DAO holds value. You can sell your shares for a price set by you, handy for when the DAO is full and business is booming to make a bit of quick crypto.
\\\*\\\*The legal stuff\\\*\\\*
Trading carries risk and while the risk is lessened here it still requires you to invest money into something that may or may not give you returns. Trade at your own risk.
\\\*\\\*The technical stuff\\\*\\\*
This app is a typescript port of a golang desktop app that used key stores for the wallet. For the Beta, private keys are stored in a database that is encrypted client side by a password of your choice. New wallets are automatically created and it’s recommended that you use an auto generated hot wallet instead of importing a private key from an existing wallet. The beta runs on Sepolia so use a Faucet to get sepolia ETH to start trading on the platform.

The people using .wei are butthurt because of ENS DAO stuff and their tokens aren’t valuable anymore. It’s a protest.