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Is Dai similar to Gemini's GUSD stable coin? It too is backed by Etherium. I think Gemini is paying 8 or 9% APR for holding. Where is that money coming from? Ar

by bradly 5y ago

Is Dai similar to Gemini's GUSD stable coin? It too is backed by Etherium. I think Gemini is paying 8 or 9% APR for holding. Where is that money coming from? Are they loaning out for a higher rate than that?

rabbitonrails 5y ago
If you are referring to Gemini Earn, they take your GUSD (or other currency) and take a spread then lend it to Genesis, who takes a spread and then lends it to big institutions. None of this is insured. https://support.gemini.com/hc/en-us/articles/360056367771-Are-the-Crypto-Moved-to-Earn-Insured- https://support.gemini.com/hc/en-us/articles/360056367771-Ar...
Zamicol 5y ago
Maker Dai is nothing like GUSD. https://en.wikipedia.org/wiki/Dai_(cryptocurrency) https://en.wikipedia.org/wiki/Dai_(cryptocurrency) >Dai is a stablecoin cryptocurrency which aims to keep its value as close to one United States dollar (USD) as possible through an automated system of smart contracts on the Ethereum blockchain. [...] Dai is created from an overcollateralized loan[.]
- swader999 5y ago
  Ampleforth is the most interesting 'stable coin' I've seen.
  - adultorata 5y ago
    I agree on this, although ampleforth is not specifically a stablecoin, but nonetheless it's one of the most interesting economic experiments I've witnessed since bitcoin, a true Hayek money had never been possible before in humanity, thanks to chainlink a currency that even Satoshi Nakamoto dreamed of is now possible
    - swader999 5y ago
      Yeah you aren't understating it either. I get so excited by it that I have a hard time not sounding like a shill.
trophycase 5y ago
Some of it is likely them promoting the use of their stablecoin (paying out of pocket) while a lot of it probably comes from lending it out at higher rates. It is VERY easy to make more than 8-9% on stablecoins.
webinvest 5y ago
It’s spelled Ethereum.
- santiagobasulto 5y ago
  Thank you, it was driving me crazy.
- yreg 5y ago
  Don't worry, that's just the way bridley spells it.

by bradly 5y ago

rabbitonrails 5y ago

If you are referring to Gemini Earn, they take your GUSD (or other currency) and take a spread then lend it to Genesis, who takes a spread and then lends it to big institutions. None of this is insured. https://support.gemini.com/hc/en-us/articles/360056367771-Are-the-Crypto-Moved-to-Earn-Insured- https://support.gemini.com/hc/en-us/articles/360056367771-Ar...

Zamicol 5y ago

Maker Dai is nothing like GUSD. https://en.wikipedia.org/wiki/Dai_(cryptocurrency) https://en.wikipedia.org/wiki/Dai_(cryptocurrency) >Dai is a stablecoin cryptocurrency which aims to keep its value as close to one United States dollar (USD) as possible through an automated system of smart contracts on the Ethereum blockchain. [...] Dai is created from an overcollateralized loan[.]

swader999 5y ago
Ampleforth is the most interesting 'stable coin' I've seen.
- adultorata 5y ago
  I agree on this, although ampleforth is not specifically a stablecoin, but nonetheless it's one of the most interesting economic experiments I've witnessed since bitcoin, a true Hayek money had never been possible before in humanity, thanks to chainlink a currency that even Satoshi Nakamoto dreamed of is now possible
  - swader999 5y ago
    Yeah you aren't understating it either. I get so excited by it that I have a hard time not sounding like a shill.

trophycase 5y ago

Some of it is likely them promoting the use of their stablecoin (paying out of pocket) while a lot of it probably comes from lending it out at higher rates. It is VERY easy to make more than 8-9% on stablecoins.

webinvest 5y ago

It’s spelled Ethereum.

santiagobasulto 5y ago
Thank you, it was driving me crazy.
yreg 5y ago
Don't worry, that's just the way bridley spells it.