Project Name: DYAD
Guest Name: Joey Roth
Guest Twitter: https://twitter.com/joeyroth
Is this the first truly decentralized stablecoin?
Radically decentralized DYAD may just solve the problem we've had with getting to an algorithmic stablecoin that is fundamentally decentralized and actually stable.
Asfi's tweet that got me interested in the concept: https://twitter.com/Asfi3333/status/1551708253897105408
- 0:46 - Joey's background in hardware design and how it applies to DeFi development
- 4:54 - How he moved into DeFi
- 5:30 - How a mechanical engineering background ties nicely into smart contract development
- 6:07 - Radically decentralized protocol
- 9:00 - Hired quants to model it out for the future
- 10:00 - Do people or his family think he is nuts?
- 12:51 - How he came up with the idea and why he decided to solve the problem of stablecoins
- 14:00 - All stablecoins are flawed.
- 16:10 - What it is and how it works
- 16:50 - The prime directive of the protocol is at any time can exchange 1 DYAD for 1 USD worth of ETH
- 32:20 - Why it is better to deploy than fork on another chain and why DYAD will encourage it
- 49:00 - How XP plays a critical role in the platform
- 51:00 - Gamifying the system and the leaderboard
- 51:38 - Dynamic NFTs based on your score / position in the leaderboard
- 59:00 - How they are raising funds fairly and being radically decentralized
- 1:02:04 - Investors liquid on day one and no impact on the protocol if they dump
- 1:02:56 - What he worries about
- 1:05:30 - Audit schedule
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