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Developer documentation for the Maker System.

Trade

Trade with OasisDEX - our decentralized exchange.

A fully on-chain ERC20 exchange, with leverage by Maker.

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Borrow

Deposit collateral to access Dai-denominated credit.

Autonomous borrowing - borrow Dai by locking up ETH in the Maker collateral vault.

Example:

  1. Lock up 100ETH in the collateral vault
  2. Borrow up to 50ETH worth of Dai
  3. Repay borrowed Dai at any time in the future and get your collateral back

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Arbitrage

Compete for profit opportunities provided by the Maker platform.

  • Maker creates a market for debt by buying and selling dai as the liquidator vault goes in and out of surplus.
  • PETH supply is adjusted to maintain its ratio to collateral proportional to circulating dai.

Opportunities for arbitrage across DAI - PETH - USD pairs.

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Leverage

Re-invest borrowed Dai to build leveraged positions.

CDP owners can use borrowed dai to purchase more collateral on the open market, and then use that collateral to open another CDP, thus increasing exposure to changes in the value of the collateral.

This functionality is being used by the proxy contracts supporting oasis.direct for example and it’s easy to imagine how these properties be used in interesting ways.

It would easy for example imagine to write a contract that accepts ETH and gives you back a recursively leveraged CDP. Or an ERC20 token containing a CDP, which would kind of be like a leveraged ETH token (think leveraged ETFs on NASDAQ).

Hedge

Dai stablility.

Buy dai as a shelter from volatility. Move value into dai during a periods of uncertainty.

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