One of the cool aspects that I immediately saw when I logged into Oasis was how the DAI staked continued to accumulate on a real-time basis! It reminded me how Steem Power also accumulates given its inflation with every 3 second block mined. However, the DAI was continually being produced despite what we know of a more slower Ethereum network block time. When compared to the traditional banking system, we can never see anything in comparison with the exception of asset trading on exchanges. The fact that this proves the immutability and transparency the DeFi system provides, it is very encouraging to see its potential.
I was also impressed by the amount I have accumulated in such short time. I recall that the Savings Rate was below 3% when I had started and seeing it now above 7% was impressive. Even between the 2-3% where it had started for me was much better than the 1.6% that one of my "High Yield" Savings accounts has been offering in the recent weeks. While there is always risk provided to this yield, the reality is that this is just getting started and with the amount of assets being pledged and other competitive Dapps being developed, it seems that those participating will benefit in the meantime!
I was curious to see how the distribution between the new DAI and the old one now called SAI was doing. I originally was confused that adoption was slow to progress as SAI still had the majority after the upgrades were deployed late last year. I though that it could have been participants waiting for their exchanges or wallets to provide details for the upgrades as it was an interesting process to participate in. That experience continues to be why a broader adoption across other potential participants will be lower than its potential. However, a couple of months after, we now see how the new DAI market cap continues to increase and now represents more than 75% of the total as SAI now has less than $25 million in market cap.
I am encouraged with this progress and my experience thus far and now am considering how to expand my participation in the DeFi system. It has also given me a newfound interest in how powerful the Ethereum network can truly be if they can get past their scaling issues. Given the potential move into a POS protocol, it makes for a case to continue accumulating the asset to participate in the future as another way to improve earnings and exposure to the system. It seems as 2020 can bring large potential to the space with plenty of development and adoption!
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