Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

分散型Stablecoin "Dai" の仕組み

6,079 views

Published on

Hi-Ether Meetup #3 Tokyoで、分散型のStablecoin "Dai" について発表した解説資料です。

Published in: Software
  • Be the first to comment

分散型Stablecoin "Dai" の仕組み

  1. 1. Hiro Inagaki Stablecoin “Dai” 2018.05
  2. 2. Hiro Inagaki @hiroingk • • DeNA • DRI ( ) DRI • Ethereum • ”Swingby Protocol”
  3. 3. Agenda Dai • • Stablecoin • Dai • CDP • PETH • TRFM • Global settlement • Multi collateral • Q&A
  4. 4. Stablecoin Stablecoin ( Peg ) 1Coin = $1 Dapps • • • •
  5. 5. Stablecoin Fiat-collateralized Crypto-collateralized Seigniorage Shares Tether TrueUSD BitShares MakerDAO Basis Carbon IOU Stablecoin Stablecoin 3
  6. 6. Dai (Peg)
  7. 7. Dai • MakerDAO DAO Stablecoin • 1Dai = $1 • ( ) • Smart Contract ETH Dai
  8. 8. Dai • CDP - • PETH - ETH • Global settlement - • TRFM - • MKR - • Multi collateral - Dai 

  9. 9. CDP - Collateralized Debt Position • • • CDP ETH Dai • CDP • Dai CDP (Burn) ETH • ( Fee ) • Dai • 150% • Dai ETH
  10. 10. CDP - Collateralized Debt Position • ETH • CDP ETH • Dai 2 • ETH • CDP ETH • Dai
  11. 11. CDP - Collateralized Debt Position • ETH CDP ETH ( ) • CDP ETH Liquidity Providing Contract • ETH Dai ( Dai ) • Dai ETH, Liquidation Penalty(13%), Stability Fee CDP •
  12. 12. PETH - Pooled Ether • ETH PETH WETH • WETH PETH 1:1 PETH/ETH 1.013 • Liquidation Penalty PETH Burn PETH 
 ( PETH ) • CDP PETH • PETH
  13. 13. Global settlement • • • • • Global Settler MKR • CDP • Target Price Dai ETH
  14. 14. Target Price & Target Rate • Target Price • Global Settlement • CDP Dai • Target Rate • USD Peg • Target Price = $1 → Target Rate = 0%
  15. 15. TRFM - Target Rate Feedback Mechanism • Dai TRFM • Target Rate Target Price • Target Price Dai • Global Settlement • CDP Dai ( ) • Target Price •
  16. 16. MKR • Dai Utility & Governance token • CDP Fee • CDP Risk Parameter (Fee Collateral Ratio) • Global Settler • Oracle • TRFM Sensitivity Parameter ( Target Rate ) • : MKR ICO
  17. 17. Multi collateral Dai ( ) • ETH • • CDP • • $DGX, $OMG • PETH • Dai • Single collateral Dai
  18. 18. MakerDAO DRI MakerDAO Lead Economist Lev Dai • Q:
 ETH Over collateral 150% • A:
 150% 
 ETH 15 30%
  19. 19. MakerDAO • Q: 
 TRFM MKR • A: 
 MKR 

  20. 20. MakerDAO • Q: 
 Oracle • A: 
 20 Trusted Oracles 
 
 Trustless Oracle
  21. 21. • Dai • • MakerDAO • Black swan • • Dai 99.9% Dai (Dai ) • Dapps Stablecoin • Dai Stablecoin
  22. 22. • Reddit: 
 https://www.reddit.com/r/MakerDAO • Whitepaper https://makerdao.com/whitepaper/DaiDec17WP.pdf • Market Dynamics Paper: TRFM https:// makerdao.com/assets/documents/Dai-Stability-Engine-Simulation.pdf • Purple Paper: Haskell 
 https://makerdao.com/purple/ • Purple Paper (lotz84 ) 
 https://github.com/lotz84/dai-in-jp/blob/master/purple-paper.md • Medium: https://medium.com/makerdao
  23. 23. EthPedia 
 Wiki

×