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RE: Mr. Justin Sun creates a new credit facility and stable coin DJED on TRON to compete with MakerDaO on Ethereum.

in #justinsun5 years ago

This very interesting.
It was very long, but please tell me if I understand this correctly.

You are saying that the technology to create a “credit facility” exists on Ethereum in the MakerDao.
We can use Ethereum we deposit in the MakerDao and this credit facility to borrow money to buy more Ethereum and the loans are secured by the Ethereum we already deposited.
So long as Ethereum appreciates faster then the loans interest rate, we make money.
We don’t need good credit, we just need Ethereum.
We don’t need to be “accredit investors” worth a million dollars?
We just need Ethereum.
This bank on the Ethereum blockchain increases the demand for Ethereum, which increases the price.
Justin Sun has replicated the MakerDao on Tron.
He could do that here.
Steem price could increase because investors could come here to make money because everything is cheaper here and transactions are free, no payment of Ether or Gas the tokens you pay to transact on the Ethereum blockchain.
The computer source code is all open source, so it’s legal to use the MakerDao source code.
We already have a stable coin SBD, we already have Nonfungible tokens, we just need developer support to install and modify the open source code here.
So we just need Mr Justin Sun to do here, what he just did on Tron?

Did I get most of it?

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Thank you for your comment.
And thank you for the detailed reply. Yes you have understood the main points. I can tell you read some of the other articles. I appreciate that also.

!giphy thank+you




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