A Letter to Mr. Justin Sun about decentralized finance potential on Steem.

I am writing to inquire about the development of decentralized finance on the Steem blockchain. As you know the Steem blockchain currency is Steem, and the Steem Stablecoin the Steem Backed Dollars or SBD. —————————-/——————————————While Steemit is one of the most famous applications, other applications exist here and interesting constructions like the Steem side chain Steem-Engine. It is on the Steem-Engine side chain that the code for SMT was tried out and over 100 new Frontend with new Tokens were developed. Equally importantly a new game blockchain based game called Steem Monsters was created by @aggroed and @yabapmatt and it later renamed the popular game Splinterlands. This game has become the number one decentralized blockchain application by activity on the State of the DApps website, which rates applications by user activity. This same website lists applications from Ethereum and EOS.————————————————————A recent development on the Steem-Engine side chain is nonfungible tokens. These tokens resemble specific nonfungible type ERC Tokens traded on the Ethereum blockchain. The Ethereum blockchain is a huge success, by most standards, but commercial transactions on the Ethereum blockchain cost Ether and the transaction volume is so high that transaction times can be prolonged. The success of Ethereum has led to competitors offering similar services, and similar smart contracts. But the unique thing about Steemit and the Steem blockchain is a large community of developers, users, free and fast transactions and a graphene blockchain which allows the Steem blockchain to scale above Ethereum. ———————————————————-If you add your developers, cash, your social media presence and powerful ability to promote Steem we could see development of an entity here like MakerDao on Ethereum, which is doing 1.5 billion in monthly volume of collateralize debt obligations CBO with collateralize debt products CDP produced on the Ethereum blockchain with technology we have here. I think you would agree that potential for earning money from Decentralized finance is immense. And potential many times larger then your already very substantial investment. ———————————————————/——-But one of the keys here is the DeFi is scalable in size of the CDP and CDO, and assets are varied. So the diverse population of Steemians control a variety of assets of a wide range of prices, making this profit making path open to people with small amounts of capitol. The beauty of this from a business sense is that this opens up the investment opportunity to a much larger number of people and so it’s nature aids its success. Plus the Community here is passionate about both the blockchain and making money. ——————————————If your expert associates research Tokenization they will see an very large developing market that uses digitization of assets to unlock equity in high priced real estate like luxury resorts or expensive pieces of art. The number of people who can buy this real estate or art at prices in the millions is few. But using Tokenization to achieve fractional ownership allows the owners to receive cash for their equity and by selling less then 50% of its value through Tokens and fractional ownership they can get cash and maintain control of these assets. Additionally nonfungible tokens allow investors to tokenize securities like treasury bonds at their maturity face value and borrow money against these assets to invest in other assets or to loan out. This credit facility allows investors to make money and money lenders to make money. These mechanisms are the underlying principle behind the Ethereum MakerDao and it’s multi-billion dollars in business. —————————I am not a coder or developer, I instead see the business use case and study that and I think you have a great talent for that and promotion. That is the reason for this letter, to help you see the potential here and encourage you to consider if giving up a portion of your Steemit Inc Steem to fund the Steemit development vehicle would potentially be a small price to pay to be the owner of the equivalent of the MakerDao on the Steem blockchain and an investor in other entities like Splinterlands, which have great profit potential and frontends like Steemleo. I ask that you consider these things purely from a business perspective. The potential for gaming and decentralized finance is very big.