解析：MakerDAO为何大举发行DAI进入Ethena？

The author has recently launched a proposal to allocate billions of dollars to Bitcoin Trading Network. How do you understand this move? It is one thing to encrypt and issue a document to interpret the entry of billions of dollars to gain income. Issuing billions of dollars means getting hurt. Why do you plan to risk casting billions of dollars to gain income? When it inevitably falls below the dollar, can it be decoupled? Is this a bold move or something else? The inspiration of this article comes from the founder. He issued an alarm. To make a long story short, he is right. Our behavior is reckless and encouraged by greed, but if you carefully observe the risks, you will find a new scene. Of course, cash is being printed now, and the cost is borne by you. They have issued hundreds of millions of pieces, and they can only get huge profits by borrowing with collateral. The annualized rate of hundreds of millions of dollars is what is happening. They don't care that they will use billions of dollars to encourage this greed and earn huge profits. Soaring win-win, but there is always a problem. Even if the vault reaches billions of dollars, they will liquidate you before being hurt. This means that they will be the first to sell and recover the funds when decoupling. The users will be liquidated and keep the profits. How to decouple is only a matter of time. The bigger this bubble is, the more sure it will happen. Imagine that the market value is about hundreds of millions of dollars. These are conservative figures. Please refer to the first reason. What happens next? In order to bear the negative interest rate of funds linked to the US dollar, it is necessary for them to be positive. It needs short positions of billions of dollars to maintain stability and maintain its market value. The risk increases rapidly and suddenly, it is decided to lift its exposure of billions of dollars. What is the next step? Its market value is shrinking. People realize that the exit door can only accommodate so many people linked to the US dollar, fluctuate under the negative financing interest rate, and then fall below the US dollar panic and liquidation begins. The first batch of users who use and borrow on the Internet will soon be Liquidation: With the decline of the exchange rate linked to the US dollar, it is safe to take out funds totaling US$ 100 million at first, and will keep the loan profit until then. What will happen when users receive the liquidation message and their balance is zero? Because the support is physical assets, there is a hard limit to the decline of the linked exchange rate. Think about it and add it later, but it is also a problem. When the market value starts to plummet, for example, from US$ 100 million to US$ 100 million, they must close their positions and redeem the collateral, for example, or if there are any bottlenecks and beauty in the redemption The exchange rate linked to the yuan will also be affected, but I don't care why they made money first and quit the linked state. Now they will be multiplied. Do you think that only people will do this? Everyone will do it. They will insert and charge you. After all, this is a cryptocurrency casino. Why do they want this? In a bull market, they will cooperate with anyone who is willing to throw money at them. This is the way of market value growth. Imagine that the annualized income of hundreds of millions of dollars is or even if it is effective for one month, there will be hundreds of millions of net profits. When will it end? When the bear market comes, all cryptocurrency traders who are long in the bull market have been effectively cultivated and paid for this privilege. The rate of return is real and mainly comes from the pockets of retail investors. What is it that they hope to get double returns in the futures market? This is by far the most complicated and intelligent encryption protocol that can take advantage of the greed in this market. They are basically cultivating greed. They know the risks and make them clear. In this sense, it is worthwhile for me. It's hard to respect the team, but I'm not sure if I can say the same thing to them. They just use it to increase its risk. All the risks are borne by its users. In this respect, they hardly take any risks. I welcome them because the current incentives are consistent, but it may bring systemic risks to everyone. This is really not a joke. It is risky when billions of dollars are involved. I urge all big players to show some grams. It would be huge if the total amount of money and positions reached above, which means that the interest rate on short positions in all futures trading is already high. If things get big and bad, it may become systematic. My suggestion is to leave when the situation becomes too big. We don't know what will be destroyed first, but the list that may be destroyed is quite long. I will not go there to find the answer. I will watch the program while eating popcorn in the Bitcoin bag. Don't forget that many income agreements have lock-in time every day. When you wait for the lock-in time to end, you will have smart money. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台

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