If you buy this then you are a fucking retard

checked

well then ill keep my trip then

Where is the price chart?!?

The questions and observations seen on Zig Forums (boards.4channel.org/biz/thread/19841264) are a good deep dive into the ecosystem and the team is excited to see individuals look at what we do with a high level of scrutiny. While the analysis looked closely at the ecosystem and raised some great questions, we think there’s a lot of misinformation to dissect. Here goes:

Liens are the lifeblood of the DMM Ecosystem. They serve as the contractual document that grants the DAO ownership of the asset, should a borrower default on the loan. These liens are core to the DAO’s infrastructure and are very intricate documents. Liens are valid until the underlying loan is completely paid off. The reason why you see some that date back to 2016/17 relates to the core product being offered with these “car equity lines of credit” - that is, borrowers get a loan that’s secured by their vehicle. A prime use-case is using this financial instrument as a revolving line of credit. Think about it - you can borrow against the value in your vehicle, while still driving it. So there are some borrowers that pay down the loan to the last bit, and then reopen a new loan, reusing the same lien. This reduces processing costs and the time necessary to re-open this digital lien against the borrower’s vehicle.

The loan servicer that works with these borrowers has been up and running for 5+ years, whose lifetime obviously extends beyond that of the DMM DAO. They signed off on the contractual rights to the lien, hence why the DMM Foundation is now listed on there. This is why the “DMM Foundation” may appear to be photoshopped onto the document - there is a contractual relationship with the DMMF and the loan servicers, that grant the DMMF ownership of the liens. Keep in mind, in traditional finance, loans are bought and sold by big banks many times. For example, a loan taken out with Santander may be bought by Wells Fargo and re-bundled and bought again by JP Morgan. Through all of that though, the loan is still stored at Santander (whoever took the loan out is paying Santander back), and the information is still confidential. The banks that buy and sell the loan simply own the right to it. Since we wanted to make the loan information behind DMM public, we’re breaking the normal flow of things by showing the document, however something we can’t break (at least not yet) is that we can’t publicly list the loan servicer with the loan information. In my example earlier, it would be like Santander putting out a Tweet saying “Hey everyone, JP Morgan currently holds this exact loan!”. The “DMM Foundation” added to the lien document represents the fact that DMM holds the rights to the loan, the same way JP Morgan can hold the rights to a loan serviced by Santander. We can see why this can cause confusion, it wasn’t something we had anticipated when we built the explorer, but we don’t regret sharing the info we have shared and we’re sharing all the details we can for now. If people don’t trust it enough, I encourage them to wait until we have the independent verification to confirm our ownership over those loans.

forum.makerdao.com/t/dmm-proposal-for-collateral-onboarding-of-dmm-mtokens/2141

Read this and watch them get destroyed

thanks

of course it's an user taking time out of his day to fud a project because he cares about my well being yet still calls me a fucking retard.
not someone fudding to buy cheaper of course, that has never happened before am I right?

this is exactly it my friend

i dont care about your financial well being. i get enjoyment out of watch shitheads running scams scramble like roaches.
Were all in this together, right?

I dont think you understand what "being in it together" means user ;/