Redeemable DAI (or rDAI) is one platform enabling such returns, and their founder, Miao ZhiCheng thinks that by continuing to focus on end users and less on engineering tech, DeFi can continue to grow.
Miao ZhiCheng, founder of rDAI
“The biggest growth is growth beyond the crypto community. I see the potential for an echo-chamber developing, especially in the defi space. But I want to see that industry reach a general audience.”
The decentralized finance (DeFi) movement has unlocked new potential around money management. Rather than letting funds sit in a bank account earning nothing, people can invest and see stable returns of 5-10%. Redeemable DAI (or rDAI) is one platform enabling such returns, and their founder, Miao ZhiCheng thinks that by continuing to focus on end users and less on engineering tech, DeFi can continue to grow.
rDAI lets users invest in collateralized debt in exchange for interest returned. Users still hold on to the exact amount they invested, and can spend and transfer it at will. But as long the funds are invested, they will earn interest. An interesting and unique spin that rDAI puts on these funds is allowing users to decide who benefits from the interest earned. Users can, of course, collect interest themselves, or they can send the generated returns to charities, the community, and more.
We had the chance to speak with Miao about building rDAI, about Ethereum, and about growth in the Web3 space.
How do you define growth?
The biggest growth is growth beyond the crypto community. I see the potential for an echo-chamber developing, especially in the DeFi space. But I want to see that industry reach a general audience.
What has been the most difficult part of growing your company so far?
I think the under-marketing of Ethereum itself has hurt. It’s very developer-centric. The brand name is not as big as Bitcoin. We have built so many cool things, but the lack of brand recognition is a problem.
What needs to happen to address this problem?
I can talk more with people around me. Talk with non-crypto people and try to find an intersection that they care about that they can use crypto for. I think everyone in the space can do this.
What are your predictions for Web3/Blockchain growth in 2020?
I think custodial assets will drive a lot of mainstream adoption on ethereum. While I’m not a big fan of custodial assets, I think that will be the biggest driver of growth for the mainstream.
Is rDAI available for users outside the crypto community? How can it reach a general audience?
Yes, rDAI is definitely available for users outside the crypto community. Miao ZhiCheng, the founder of rDAI, believes in reaching a general audience and not just limiting it to the crypto enthusiasts. By focusing on end users and creating a seamless user experience, rDAI aims to make DeFi accessible to everyone. The goal is to break out of the echo-chamber and introduce the benefits of decentralized finance to a wider public. It’s an exciting vision for the future!
“The biggest growth is growth beyond the crypto community. I see the potential for an echo-chamber developing, especially in the defi space. But I want to see that industry reach a general audience.”
The growth of DeFi beyond the crypto community is crucial. The industry needs to reach a general audience, not just stay within an echo chamber. Excited to see how rDAI can contribute to this growth!
The decentralized finance (DeFi) movement has unlocked new potential around money management. I think Miao ZhiCheng is right about the need for DeFi to reach a general audience. We need to break out of the crypto community and show the benefits of these platforms to everyday people.
“I completely agree with Miao ZhiCheng. The true potential of DeFi lies in its ability to expand beyond the crypto community. It’s important to reach a wider audience and make decentralized finance accessible to everyone.”
The biggest growth is growth beyond the crypto community. I see the potential for an echo-chamber developing, especially in the defi space. But I want to see that industry reach a general audience.
“I completely agree with Miao ZhiCheng. The growth of DeFi should expand beyond the crypto community. It’s important to reach a wider audience and make it accessible for everyone.”
The biggest growth is growth beyond the crypto community. I see the potential for an echo-chamber developing, especially in the defi space. But I want to see that industry reach a general audience.
Is rDAI available for users outside the crypto community? How can they access this platform?
Yes, the rDAI platform is available for users outside the crypto community. They can access the platform by creating an account and connecting it to their bank account or credit card. Once they are registered, they can start investing and earning stable returns. It’s a great opportunity for non-crypto users to get involved in the DeFi movement.
“The biggest growth is growth beyond the crypto community. I see the potential for an echo-chamber developing, especially in the defi space. But I want to see that industry reach a general audience.”
“I completely agree with Miao ZhiCheng. The growth of DeFi should definitely extend beyond the crypto community. It’s important for this industry to reach a wider audience and capture their attention.”
The decentralized finance (DeFi) movement has unlocked new potential around money management. Rather than letting funds sit in a bank account earning nothing, people can invest and see stable returns of 5-10%. Redeemable DAI (or rDAI) is one platform enabling such returns, and their founder, Miao ZhiCheng thinks that by continuing to focus on end users and less on engineering tech, DeFi can continue to grow.
“I agree with Miao ZhiCheng, the growth of DeFi should extend beyond the crypto community. We need to reach a wider audience and show them the potential of decentralized finance.”
“I completely agree with Miao ZhiCheng. The growth of DeFi should extend beyond the crypto community and reach a broader audience. Only then can we truly harness the full potential of decentralized finance.”
The potential for growth in the DeFi space is immense. Miao ZhiCheng is right in saying that it needs to move beyond the crypto community and reach a general audience. This will help create a more diverse and inclusive ecosystem.
“It’s great to see rDAI focusing on end users and not just the technology. This is what will help DeFi reach a wider audience and grow beyond the crypto community.”
“I agree with Miao ZhiCheng’s perspective. The growth of DeFi should not be limited to the crypto community only. It’s important to bring it to a broader audience and increase awareness and adoption.”
What are the risks associated with investing in DeFi platforms like rDAI? Are there any security measures in place to protect users’ funds?
Hi Mark_Jackson, as an experienced investor in DeFi platforms, I can say that there are indeed risks involved. One of the main risks is smart contract vulnerabilities, as these platforms are built on blockchain technology. However, rDAI and other reputable DeFi platforms have security measures in place to protect users’ funds, such as audits and bug bounties. It’s always important to do your own research and understand the risks before investing. Hope that helps!
It’s great to see the founder of rDAI focusing on bringing decentralized finance to a wider audience. By reaching beyond the crypto community, they can truly unlock the potential of DeFi. Exciting times ahead!
“I completely agree with Miao ZhiCheng. The decentralized finance movement has great potential, but it’s important for it to reach beyond the crypto community. It needs to be accessible to the general audience for true growth.”
“The article highlights a great perspective from Miao ZhiCheng, founder of rDAI. I agree that the growth of DeFi should extend beyond the crypto community. It’s important for the industry to reach a wider audience and make decentralized finance accessible to all.”
“I completely agree with Miao ZhiCheng. In order for DeFi to continue growing, it needs to reach a wider audience outside of the crypto community. The potential for echo-chamber development is concerning, and it’s important to focus on creating products that appeal to a general audience.”
The potential for growth beyond the crypto community is immense. It is important to reach a broader audience and make decentralized finance accessible to everyone.
“The biggest growth is growth beyond the crypto community. I see the potential for an echo-chamber developing, especially in the DeFi space. But I want to see that industry reach a general audience.”
Isn’t focusing on end users rather than engineering tech a risky strategy for the growth of DeFi? How does Miao ZhiCheng plan to balance both aspects effectively?
“The biggest growth is growth beyond the crypto community. I see the potential for an echo-chamber developing, especially in the defi space. But I want to see that industry reach a general audience.”
Is there a way for non-crypto users to easily understand and participate in DeFi platforms like rDAI? How does rDAI plan on reaching a more general audience outside of the crypto community?
“The biggest growth is growth beyond the crypto community. I see the potential for an echo-chamber developing, especially in the DeFi space. But I want to see that industry reach a general audience.”
Do you think focusing more on end users rather than engineering tech will truly drive the growth of DeFi beyond the crypto community?
“Does Miao ZhiCheng believe that focusing on end users rather than engineering tech in DeFi can truly sustain its growth in the long term?”
“The biggest growth is growth beyond the crypto community. I see the potential for an echo-chamber developing, especially in the defi space. But I want to see that industry reach a general audience.”