Support DAI as collateral on Venus on ETH Mainnet

Summary

Hello Venus Community! This proposal seeks to introduce DAI on Venus Protocol Ethereum deployment to boost its lending and borrowing ecosystem. DAI’s stability and extensive backing aim to offer Venus a reliable collateral option, driving liquidity and user engagement.

Background

MakerDAO is at the forefront of DeFi, offering DAI, the world’s first unbiased currency. DAI stands out as a stable, decentralized currency that’s accessible to anyone, embodying the advantages of digital money without discrimination. This US dollar-pegged stablecoin is celebrated for its stability, transparency, and decentralization. For more about DAI and MakerDAO, visit https://makerdao.com 2.

Benefits for Venus Protocol

Stability: DAI offers Venus a stable, reliable collateral option. Diversification: Adds a well-regarded asset to Venus, strengthening its ecosystem. User Growth: Attracts MakerDAO’s vast community to Venus, potentially increasing TVL.

Benefits for MakerDAO

Increased DAI Utility: Listing on Venus allows DAI holders to lend, borrow, and earn interest, boosting DAI’s demand. Wider Exposure: Introduces DAI to Venus’s ETH Mainnet ecosystem, expanding its adoption.

Conclusion

Listing DAI on Venus Protocol Ethereum deployment represents a strategic move to enrich both platforms by leveraging DAI’s proven stability and MakerDAO’s robust ecosystem. It offers Venus an opportunity to diversify its asset offerings and enhance user experience while expanding DAI’s utility and market presence.

We invite the Venus community to consider this proposal for mutual growth in the DeFi sector. Thank you for reading! Happy to answer questions here or help make introductions to the various teams at MakerDAO who would be appropriate to connect with you.