1/5 @iearnfinance yWETH Vault currently contains 142k $ETH and has minted almost 30M $DAI in less than 24h. The new liquidity has pushed $DAI closer to peg and with less than 24M DAI left to mint, @MakerDAO is moving quickly to raise the ETH-A debt ceiling by 120M. https://twitter.com/MakerDAO/status/1301266168162869248

2/5 The @CurveFinance yCRV pool can absorb a few hundred million in new $DAI deposits, but at some point new deposits may threaten to push $DAI below peg. When we near that point $MKR governance will vote to raise the Stability Fee, generating cashflows for @MakerDAO once more

3/5 There is a strong set of network effects emerging between $YFI, $MKR and $ETH (Triforce @nanexcool). The ability to *mint* debt with @MakerDAO rather than borrow someone else's deposit is particularly powerful when combined with money robots @iearnfinance.

4/5 I'm excited to see $YFI becoming supported collateral within @MakerDAO, allowing for a yYFI vault strategy mimicking yWETH, but accumulating $YFI. This mitigates concerns with governance attacks because $YFI is locked in a Maker vault and cannot be borrowed by another party.

5/5 I expect to see similar (but different) network effects emerging with @iearnfinance $YFI and @AaveAave $LEND once Delegated Vaults for wider array of assets are rolled out, particularly once the $AAVE migration is complete and the governance DAO is in place