MYKEY Financial Management-Your Best Choice to Invest

Hi everyone,

MYKEY financial management feature is officially released to provide users with the best financial service in the blockchain industry. MYKEY financial management features will aggregate the most advanced financial products , provide a smoother DeFi experience and free transactions without ETH to realize one-stop digital asset management. The first supported DeFi dapps are Oasis and Compound and the first supported currencies are DAI and USDC.

1. Overview
   (1) Aggregate asset information and provide one-stop asset statistics. MYKEY summarizes and manages various assets saved by users in [Invest].

(2) The deeply optimized experience without complicated operation steps. One-click to easy financial management, realizing a clear and convenient operation in [My Investment].

(3) MYKEY will continue to gather high-quality DeFi (Decentralized Finance) / CeFi (Centralized Finance) dapps to provide users with more financing options.

1. Experience tutorial
   First of all, please update to the latest version, click [Assets] and select [Invest].
   (1) How to get Dai
   MyOTC
   MyOTC is a third-party OTC dapp listed on MYKEY, which is a convenient choice for users. Users can directly save in [Oasis] to earn interest once they have bought in [ MyOTC].
   Exchange
   Dai Trading is supported by several mainstream exchanges, including Coinbase, OKEx, Bitfinex, Gate.io, kucoin, etc.
   Uniswap / Oasis
   Users who have ETH or other ERC20 mainstream digital currencies can use Uniswap / Oasis for transactions. Generally, 1 USDC can exchange 1 Dai so that the best liquidity way to get Dai is to transfer using ETH or USDC.

(2) How to deposit
Take Dai Savings as an example, click [Buy now] in [Selected investment products], choose [Deposit] and enter the specific amount. Please choose a slow speed to use the monthly free transfers to reduce the consumption of network fees, then click [Next] and the page will display “successful Deposit”. (Attention: MYKEY as a platform only provides product display, and the user’s assets are directly transferred to the smart contract of the project party)

(3) Start to earn interest
For details, please view in [My Investment] on the homepage of [Invest]

1. FAQ

(1) Will one Dai be decoupled from one dollar?
DAI is the largest crypto-collateralized stablecoin whose value is pegged to the US Dollar. Rather than redeeming collateral directly, Dai usually uses an indirect mechanism called “Stability Fee”. The effect of the stability fee is similar to the interest rate of the loan. The stability fee is determined based on the deviation of the market price of the DAI from the $ 1 anchor. If Dai falls below the anchor price of $ 1, the stability fee will have to rise to reduce the supply, otherwise, it will increase the supply to ensure that the relative stability of 1 Dai to $1 is guaranteed. But there is still a low probability of systemic contract risk and the risk of decoupling due to a lack of demand and liquidity.

(2) Where does the high 8% interest rate of Dai come from?
The Oasis contract system is similar to the loan-to-deposit business of the bank in Oasis Save. The 8% interest rate comes from the loan interest income: stability fee to regulate the supply and demand of money through governance.
Dai is mainly used for point-to-point loan matching business in Compound, and the source of interest mainly comes from loan interest income.

(3) Will saving Dai have the risk of run?
Compared with traditional centralized financial management, decentralized financial management has the advantages of transparent mortgaged assets, clear contract processes, and no single centralized operation.
Dai in Oasis is implemented based on DSR (Dai Saving Rate). MakerDAO provides a savings contract where users can save their Dai to get DSR incomes. DSR does not lend users’ savings, and DAI got by users does not come from the DSR savings, which eliminates the risk that users will not be able to redeem the liquidity in real time, and does not form a run.
Dai saved in Compound is used for point-to-point lending, which is different from Oasis. Dai saved by users will be used to provide a loan pool. Since all loan assets are over-collateralized by other assets, it will be liquidated through a contract when the collateral is about to fall below the value of the loan and no run will be formed.
Decentralized financial management also has certain risks, such as malicious attacks, contract loopholes, and oracle errors may still cause certain risks to assets.

(4) What is the defference between MYKEY financial management and using DeFi?
The benefits of buying financial products in [Invest] of MYKEY and DeFi official website are the same. MYKEY has also optimized the operation interface, network and contract call to provide the best financial experience. Users who have used DeFi before can continue to view and use in [Invest] of MYKEY.

1. Conclusion
   Financial management is a life course that everyone needs to think about. Digital currency financial management is a trend of the industry. DeFi / CeFi develops and maintains innovation at a speed with visible speed. There are more income opportunities and higher security than traditional financial management in the emerging financial industry. MYKEY is committed to being the best one-stop service platform for financial management in the blockchain industry. MYKEY Financial Management is your best choice to save and earn.

About Us
KEY GROUP ：https://keygroup.me/
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