I totally get the benefits of being able to use DPI as collateral for borrowing, and I will certainly use it as such. I am also a big believer of decentralized stable coins systems and following the RAI project with interest.
However what is not clear for me is what would be the benefits for Index Coop of running its own credit system?
I mean, it seems to me that using DPI on Maker to generate DAI, or DPI on Reflexer to generate RAI (I don’t know if there are any plans for this) would bring the same benefits to the DPI holders, with a lot less investment in time, resources, risks, etc, for the Index Coop.
I think the proposal should highlight what is the value added of “Index Coop deploying efforts to run its own credit system” vs “Index Coop facilitating the use of DPI in existing credit systems”.
We have to ensure that any effort diverting from the core business of Index is worth it.