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88mph


CLR MATCH ROUND 5

15 DAI

FINAL AMOUNT

ROUND 5

65 DAI
14 contributors

Your contribution goes a long way!

1 DAI contribution

+ 3 DAI match

10 DAI contribution

+ 8 DAI match

100 DAI contribution

+ 17 DAI match

1,000 DAI contribution

+ 29 DAI match

Next update : 1 month, 2 weeks ago | Last updated : 1 month, 2 weeks ago

CATEGORIES

Defi

Description

{"ops":[{"insert":"Lock your DAI and earn upfront interest at a fixed rate. Official release on April 1st, 2020. Drop us a line on Twitter ("},{"attributes":{"link":"https://twitter.com/88mphapp"},"insert":"88mphapp"},{"insert":") if you want to test it.\n\nHow does 88mph work?"},{"attributes":{"header":2},"insert":"\n"},{"insert":"\n1. Deposit"},{"attributes":{"header":3},"insert":"\n"},{"insert":"Connect your "},{"attributes":{"color":"#12263f","link":"https://ethereum.org/wallets/"},"insert":"Ethereum wallet"},{"insert":" to 88mph and deposit your "},{"attributes":{"color":"#12263f","link":"https://makerdao.com/en/dai/"},"insert":"DAI"},{"insert":" into the pool. Your deposit is locked in 88mph's pool for a minimum of 90 days. A longer lock period means a larger amount of upfront fixed-rate interest.\n\n2. Earn 1.34% upfront fixed-rate interest"},{"attributes":{"header":3},"insert":"\n"},{"insert":"Here's the cool part: You get the interest upfront! It's like your interest is travelling back from the future! While you get your fixed-rate APY instantly, your deposit will generate interests during the lock period for the 88mph's pool at a variable APY on "},{"attributes":{"color":"#12263f","link":"https://compound.finance/"},"insert":"Compound"},{"insert":" protocol, insuring the stability of 88mph's pool."},{"attributes":{"header":3},"insert":"\n\n"},{"insert":"3. Withdraw"},{"attributes":{"header":3},"insert":"\n"},{"insert":"When the lock period is over, withdraw your initial deposit. If you deposited 100.00 DAI, yeah, you get back 100.00 DAI.\n\n88mph fees disclosures"},{"attributes":{"header":3},"insert":"\n"},{"insert":"88mph charges a 10% fee on your upfront interest.\n\n88mph risk disclosure"},{"attributes":{"header":3},"insert":"\n"},{"insert":"If the interest rate offered by 88mph's underlying money market (e.g. Compound) drops too low, and many users try to withdraw at the same time, then 88mph could be temporarily insolvent, forcing users to wait a bit more to be able to withdraw their full deposit.\nEven though this risk is present, 88mph is planning to mitigate it with sponsored deposits that help maintain the pool's solvency while offering visibility to 88mph's sponsors.\n"}]}

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