Second Major Product

Please feel free to leave us your feedback or discuss other, unrelated ideas!

We’re most excited about synthetic tezos or a small cap basket. We think the centralized stablecoin idea has some merit, primarily if we can establish a partnership, but we’ve heard from the Council and community that there is greater interest in a decentralized solution for a network outside of Ethereum. Whether it looks like MakerDAO, Celo, Liquity, Metacoin/Reflex, or any solution remains to be discussed.

Slides:
Product Ideas June 2020

In documenting some of the thoughts on our Telegram, we heard interest for a stablecoin basket. One by Steve, for a stablecoin backed by major world currencies, and one by Dmitriy Berenzon, “a cross-chain, USD-denominated, reserve-backed stablecoin basket”. For the latter, another user, John, also mentioned a stablecoin basket earlier in the chat called STZ (stable-tez), which could be backed by other stablecoins such as USDC, DAI, and Celo.

Thanks for sharing these ideas with the community and council. I want to throw out one additional basket token area that might be of interest. Creating a basket of defi governance tokens. MKR, STKR, UMA, COMP etc.

MapleLeafCapital on Twitter shared this tweet: https://twitter.com/MapleLeafCap/status/1270728820082049024?s=20

with the following list:

  • KNC - AMM
  • SNX - Synthetic casino
  • LEND - Flash loans
  • MKR - Collateralize loans
  • KAVA - MKR on Cosmos / DOT
  • RUNE - Eross-chain uniswap
  • ZRX - Dex
  • LRC - L2 Dex
  • REN - Hidden orderbook

A basket of these tokens could give exposure to the profits that will be generated from defi. The BLND model where rewards are used to buy back and burn may not be the right model. A more simplified model of charging a fee on the AUM might be the easiest way to generate profits for STKR.

3 Likes

I think this is an idea worth exploring!

  1. The implementation cost of such a basket should be reasonable (TBD)
  2. On-chain cash flow enables a clear P/E ratio that’d appeal to investors who desire more fundamental metrics to price an asset.
  3. DeFi is taking off, and the ability to gain sector exposure through a single token may prove very popular amongst a variety of possible investors.
1 Like

I fully agree with this. :slightly_smiling_face:

1 Like

I like this idea, too. Question: Would this put additional reqs on ops to engage in these various defi projects (i.e. get sidetracked/involved - however you wanna call it)? For example votes via MKR?

1 Like

I’m still bullish on tokenised real estate. RealT is an example of how to do it right (so far). There could be a “Real Estate Blend”, which diversifies such tokenised real estate from various suppliers, lowering the risk of scams/defaults/vacancies.

1 Like

Holding defi tokens will offer the opportunity (but not necessarily the requirement) for StakerDAO to participate in governance on those platforms. We’d have to design a mechanism to do so effectively. Perhaps we could form a defi committee from STKR holders and empower them to manage defi voting?

I could also see the potential to use our voting power to further StakerDAO product collaboration - like promoting BLND as a collateral type in MakerDAO.

RealT is very cool. You get 7% - 12% yield in your wallet in USDC every week. Have you come across other projects providing real estate exposure on chain? (Not trying to be facetious re: all the Tezos promises here, but would love to collect a list of investable projects). A REIT type token is very possible.