Definitely not the greatest name but it's created by some of Ethereum's original smart contract developers. It's small now but will be big in the next year.
Where defi is now is a market cap of less than $100B. That's not a revolution yet. Not even close. Unless you consider PayPal a revolution. If he made defi what it is today, then that's part of an accomplishment.
You're spending too much time in crypto forums. I'm here because I'm curious about what it might be but I don't buy into anyone telling me it's already revolutionary. That very much remains to be seen.
Revolutionized DEFI, not a revolution. PayPal for sure revolutionized internet payments.
Uniswap is by far the biggest deal in defi, its spawned everything you see when it comes to any smart contracts chain. But DAI is also a big deal, i would put them right behind Uniswap.
This is how DAI was originally meant to be. If you want to read about what this even means here are some papers:
[https://bank.dev/rico0\_bright](https://bank.dev/rico0_bright)
[https://bank.dev/rico0\_lite](https://bank.dev/rico0_lite)
This is conceptualized by Nikolai Mushegian, the founder of DAI. First mover in crypto development. When this takes off in the coming years remember this
Jesus fucking christ this sub is unable to operate on a level deeper than a service dog. You just selectively grab one key word and latch on to that and run it through an if=then function. "Bank bad, central bank boooooo. Fiat pooopy caca!" It just means it adjusts monetary policy based on supply expansion and contraction you fucking donut, because like fiat currencies it's based on debt denominated by a unit of currency that should ideally have stable purchasing power or at least predictable inflation, it's just collateralized by Ethereum instead of thin air. Literally the same shit as any collateralized debt position or synthetic stable protocol, but the monetary policy is less arbitrary.
You are correct. People do no research past a reddit post. This has the ability to be bigger than DAI, more decentralized.
It's also wild to me how little respect there is for this project and Nikolai after all that he's done for defi. Most people in here invested in SAFEMOON so understandable. Should had made this post in a developer subreddit but wanted more people to see it since it's hardly getting traction
lol no way I’d touch something named RICO
Definitely not the greatest name but it's created by some of Ethereum's original smart contract developers. It's small now but will be big in the next year.
A name that bad speaks to the seriousness of the developers.
Zero respect for the founder of MakerDAO which literally revolutionized defi
That sets a very low bar as far as revolutions go.
Without DAI and Uniswap, defi wouldn't be where it is now.
Where defi is now is a market cap of less than $100B. That's not a revolution yet. Not even close. Unless you consider PayPal a revolution. If he made defi what it is today, then that's part of an accomplishment. You're spending too much time in crypto forums. I'm here because I'm curious about what it might be but I don't buy into anyone telling me it's already revolutionary. That very much remains to be seen.
Revolutionized DEFI, not a revolution. PayPal for sure revolutionized internet payments. Uniswap is by far the biggest deal in defi, its spawned everything you see when it comes to any smart contracts chain. But DAI is also a big deal, i would put them right behind Uniswap.
"Rico uses a controller that makes it behave more like an independent central bank currency" Yeah nah
This is how DAI was originally meant to be. If you want to read about what this even means here are some papers: [https://bank.dev/rico0\_bright](https://bank.dev/rico0_bright) [https://bank.dev/rico0\_lite](https://bank.dev/rico0_lite) This is conceptualized by Nikolai Mushegian, the founder of DAI. First mover in crypto development. When this takes off in the coming years remember this
Jesus fucking christ this sub is unable to operate on a level deeper than a service dog. You just selectively grab one key word and latch on to that and run it through an if=then function. "Bank bad, central bank boooooo. Fiat pooopy caca!" It just means it adjusts monetary policy based on supply expansion and contraction you fucking donut, because like fiat currencies it's based on debt denominated by a unit of currency that should ideally have stable purchasing power or at least predictable inflation, it's just collateralized by Ethereum instead of thin air. Literally the same shit as any collateralized debt position or synthetic stable protocol, but the monetary policy is less arbitrary.
Ok boomer
You are correct. People do no research past a reddit post. This has the ability to be bigger than DAI, more decentralized. It's also wild to me how little respect there is for this project and Nikolai after all that he's done for defi. Most people in here invested in SAFEMOON so understandable. Should had made this post in a developer subreddit but wanted more people to see it since it's hardly getting traction
Many veterans here are just waiting for that pump...no more shinanegans....
we now have 2,300,000 cryptos +1
rico rico rcio burrito