What does that mean for Dai and maker?
it means the debt ceiling can be raised and more DAI can be minted. For maker it means more confidence in the system and more fees to be burned for MKR holders. although the current rate is 0% on eth so its a bit depressing in that regard.
Deeper you set the hook, more likely to will reel in the fish, less bait you lose.
My first CDP I had was when the rate was like 1%, things were stable, I didn’t do much. Then the market dipped a bit, I said I’ll wait it out, and the rate went to 8% then 14% then the mkt tanked and I think the all time high rate was 19% or something. Cut my losses, paid my interest and walked away. Recently I opened a new CDP with rates being 0% but I’m just getting interest on my DAI (aave at this moment), not buying assets with it so I can repay at a moments notice. I’m not yield farming to feel my family – really just gardening for fun.
I’m a big supporter of DAI and MKR, but know what you are doing.
More like the interest is 0% is what causing it, correct ?