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Maker will focus on introducing physical assets as DAI collateral. Currently, the assets submitted in the Maker official forum include real estate, national debt, supply chain finance and gold.
Original title: “How Maker introduces physical assets into Dai”
Written by: MakerDAO
DeFi is using blockchain technology to innovate traditional finance, making funds more open, transparent and free to flow. As an innovator in the DeFi field, Maker will focus on introducing physical assets as Dai collateral in the next 1-3 years, which is crucial for the large-scale application of DeFi into the real economy.
Currently, the assets submitted in the Maker official forum include real estate, treasury bonds, supply chain finance, gold, and commodity indexes. We will introduce these assets one by one:
New Silver-Real Estate Mortgage Loan🏠
Founded in 2018, New Silver mainly provides fixed-rate mortgage services for US real estate. New Silver’s proprietary technology can automate loan origination and improve underwriting efficiency, and use data to reduce loan default risks.
New Silver uses the Centrifuge protocol to implement asset tokenization (NS-DROP), and cooperated with the Maker Foundation for the first time in the summer of 2019, and issued the first real estate mortgage Dai on a pilot basis.
PAX Gold-Tokenized Gold🌟
Bitcoin is often compared to “digital gold”, but there is still an order of magnitude gap compared with gold’s market value of nearly 8 trillion US dollars. The introduction of gold assets into DeFi will undoubtedly greatly improve Dai’s stability and liquidity and expand the boundaries of cryptocurrencies.
PAX Gold (PAXG) is an ERC20 gold token issued by Paxos Trust Company on Ethereum. Paxos is the first chartered trust cryptocurrency company to be supervised by the New York State Department of Financial Services.
PAXG’s underlying assets are London standard delivery gold bars approved by the London Bullion Market Association (LBMA). Users can purchase PAXG through the official PAXOS website. Each PAXG corresponds to one ounce of gold hosted by Paxos. Currently PAXG has a market value of 56 million US dollars.
PAXG has passed the June Dai collateral asset audit, and the Maker risk team is further evaluating PAXG.
Arca-Treasury Bond Fund💵
Treasury bonds are the most accepted and largest collateral category in the world. How to bring Treasury bonds assets to DeFi?
Arca is an investment management company focusing on digital assets and blockchain technology. Its Arca US Treasury Securities Fund is the first digital asset trading fund of this category registered with the US Securities and Exchange Commission (SEC).
Arca issues digital securities on the Ethereum public chain in the form of ArCoin. By purchasing ArCoin, users can invest in low-volatility assets, including 1-year, 2–10 and 10-year US government bonds.
Compared with traditional financial assets, ArCoin’s KYC holders can perform point-to-point real-time transfers. Second, anyone can track transactions and audit on the Ethereum blockchain in real time. In addition, the entire process does not require an intermediate broker.
ArCoin is applying for Dai’s collateral, detailed application materials .
Harbor-Supply Chain Finance🚚
Global supply chain finance has a total market value of 10 trillion U.S. dollars. As a company’s capital flow agent, the introduction of DeFi in the supply chain can more efficiently solve the company’s capital flow problem. Currently, three supply chain financial solutions are applying for Dai’s collateral.
Harbor is a financial technology company established in 2018, focusing on supply chain finance (SCF) and working capital turnover solutions. Harbor’s accounts receivable program allows buyers to obtain liquidity funds through credit and make timely payments to suppliers. Harbor’s dedicated technology platform not only reduces costs and simplifies work processes, but also enables better supplier and procurement management.
Harbor Trade Credit launched by Harbor uses the Centrifuge protocol to initiate asset tokenization (HTC-DROP), and is expected to accumulate approximately US$25 million in capital in the next year.
ShuttleOne-Supply Chain Finance🚚
ShuttleOne is a digital asset and blockchain infrastructure company headquartered in Singapore. It mainly provides remittance, microfinance and trade financing services for government agencies and enterprises in Southeast Asia.
ShuttleOne cooperates with the global supply chain platform Global eTrade Services (GeTS) to use its electronic logistics product CALISTA to tokenize freight bills (CAT) for trade financing on Ethereum. In the first half of 2020, ShuttleOne has provided more than US$300,000 in trade financing to more than 30 merchants in Southeast Asia and China.
CAT is applying for Dai’s collateral, detailed application materials .
ConsolFreight-Supply Chain Finance🚚
ConsolFreight is a technology solution company established in 2016 dedicated to helping freight forwarders improve the liquidity of their operating funds and realize the digitalization of their logistics business. ConsolFreight cooperates with the Maker Foundation to use Dai to provide international trade service providers with efficient and fast supply chain financing solutions. In May 2019, the first batch of 250,000 Dai was piloted.
ConsolFreight uses the Centrifuge protocol to tokenize the assets of freight forwarding bills (CF-DROP), and is applying for Dai’s collateral (the first batch of 5 million US dollars is expected to be required). Detailed application materials .
WiV-Wine Commodity Index🍷
Commodity index is a kind of tangible bond asset with a history of hundreds of years. How can it be given new vitality under the technological trend of DeFi?
WiV Technology focuses on designing blockchain-based asset management technology for wine producers, located in London, Oslo and Singapore. WiV Technology has created a tokenization platform for wine commodities to truly and securely trade commodity assets and convert them into financial instruments. In 2019, WiV Technology was awarded the Excellence Award by the European Union’s Horizon 2020 program. In February of this year, WiV Technology cooperated with OpenSea to launch the WiV ERC721 token trading and clearing market.
WiV Technology launched a tokenized wine commodity index fund (WiV) on Ethereum for the trading and investment of high-quality wine. Each tokenized wine is under the safe custody of Unique Asset Custody Limited under the jurisdiction of the laws of the United Kingdom and Wales, and provides comprehensive insurance. Ernst & Young is its technology and audit partner.
WiV is applying for Dai’s collateral, detailed application information
Paperchain-Tokenized Music Streaming Media🎵
Internet streaming media services have become the mainstream mode of music consumption, with a global market value of more than 100 billion U.S. dollars. The combination with DeFi has the opportunity to bring convenience and contractual guarantees to the music streaming industry.
PaperChain is a technology company that provides streaming media data analysis services for musicians. It evaluates musicians’ creations on mainstream streaming media platforms such as Spotify, Apple, and YouTube, and helps them earn more copyright revenue. Now, PaperChain adopts the Centrifuge protocol to realize the tokenization of music streaming data (PC-DROP), and with the help of DeFi loan agreement, it conducts credit evaluation and guarantees for the revenue of musicians and labels, and helps music creators with a monthly rate of 1% The cost of getting income in advance.
At the London DeFi Summit in October 2019, PaperChain collaborated with the Maker Foundation to show that it would advance 60,000 Dai to a music label on the Spotify platform through the Tinlake financial application. The entire process was less than 30 minutes, the transaction cost was less than US$3, 45 days earlier than expected, and the interest rate was reduced by 80%. PaperChain predicts that in the future there will be more than US$2 million in financing needs per month. ( Learn more )
PC-DROP is applying for Dai’s collateral, detailed application materials .