Farm deFi

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The TLM also provides a new tool for the management of Dai supply and demand. By buying term loans, Maker can increase the supply of Dai even when the stability fee is zero. Or, Maker may raise stability fees but use lending in the longer term markets to help maintain the peg.

The TLM also means higher revenues for Maker. During normal times, interest on long-term loans should tend to be higher than the stability fee. Fixed-rate loans also stabilize Maker revenue. If Maker buys a 5% one-year loan, earnings will be predictable with no prepayment risk.

Farm DeFi presents new opportunities for MakerDAO to extend Dai loans. That's why we have put forward a new Maker Improvement Proposal (MIP43) we call the “Term Lending Module” or “TLM”. Some highlights of the MIP in the following Thread forum.makerdao.com/t/mip43-term-l…