I have a proposal of a ClearingDAO that would remove the need to hold DAI completely. By having bilateral agreement between stablecoin issuers, users will be able to swap one stablecoin to the other frictionlessly. It is also a way to migrate unused capital (e.g. MakerDAO) to protocol that are better at investing such capital and lack stablecoin demand.
I think it’s a key differentiation of Fei Protocol to hold a lot of ETH. I made some research for MakerDAO and it shows that holding quite some ETH is a good balance sheet decision for the current state of Tribe. There are strong limits to the leverage we can achieve but a strong point and a key differentiation.
If we achieve 1B user Fei, then the question will be what else beyond ETH?
We can start by giving 4% (the “ETH yield”) to Fei holders, transmuting USD to ETH without the risk.