First real state deal of @6sCapital with @Tesla, ivolving a Dai loan through a Maker Vault to fund the project.
https://forum.makerdao.com/t/6... https://t.co/1r9dY0AJvO

@6Capital与@Tesla达成了第一笔房地产交易，通过Maker Vault提供Dai贷款，为该项目提供资金。
https://forum.makerdao.com/t/6... https://t.co/1r9dY0AJvO

You don't want to miss the Maker bull case, right?
👇 https://twitter.com/BanklessHQ...

你不想错过Maker公牛案吧？
👇 https://twitter.com/BanklessHQ...

Note that all of these arbitrage examples actually happen in seconds with very tight price differences, because they are mostly executed by bots.
So, we hardly even realize that it happens, while Dai is 99.99% of the time stable at $1 :)

请注意，所有这些套利例子实际上都发生在几秒钟内，价格差异非常小，因为它们大多由机器人执行。
因此，我们几乎没有意识到这一点，而戴在99.99%的时间里稳定在1美元：）

There are currently 5.1 billion USDC and 499 million USDP in the PSM as reserves for Dai’s liquidity.
Dai peg 🤝 You can swap Dai for 1 US dollar at any time.

目前，PSM中有51亿美元C和4.99亿美元P作为Dai流动性储备。
戴佩格🤝 你可以随时用戴换1美元。

Also, if Dai lost its peg, the PSM makes a lot of sense from the arbitrage perspective.
If Dai price is below 1 USD, say 0,98, there’s a good opportunity to buy cheap Dai and sell it at 1:1 ratio through the PSM.

此外，如果戴相龙失去了联系汇率，从套利的角度来看，PSM是很有意义的。
如果Dai的价格低于1美元，比如0.98美元，那么就有很好的机会购买便宜的Dai，并通过PSM以1:1的比例出售。

It helps Dai meet another important factor for its peg: Liquidity.
Liquidity, in the USD-pegged stablecoin case, means that the peg is as strong as the ability to swap 1 stablecoin for 1 US dollar at any time.

这有助于戴相龙满足其钉住汇率的另一个重要因素：流动性。
在盯住美元的stablecoin案例中，流动性意味着盯住美元的能力与随时将一个stablecoin兑换成一美元的能力一样强大。

The 10,000 USDC will be allocated into the PSM reserves and will work as collateral for your 10,000 minted Dai.
If someone wants to swap Dai for USDC, the anon can go to the PSM, put the Dai, and receive USDC in exchange from the PSM reserves at a 1:1 ratio.

10000 USDC将被分配到PSM储备中，并作为10000枚铸造Dai的抵押品。
如果有人想用Dai交换USDC，anon可以去PSM，放入Dai，然后以1:1的比例从PSM储备中获得USDC。

Right now, you can swap USDC, USDP, and GUSD for Dai and vice versa through the PSM.
How it works is simple: You put, say, 10,000 USDC into the PSM, and the PSM will mint and send you 10,000 Dai in exchange.

现在，您可以通过PSM将USDC、USDP和GUSD交换为Dai，反之亦然。
它的工作原理很简单：比如说，你把10000美元存入巴基斯坦货币局，巴基斯坦货币局就会造币并给你寄10000美元作为交换。

4️⃣ The Peg Stability Module (PSM) is a super tool for Dai stability.
The PSM is a decentralized exchange that allows users to swap US-pegged stablecoins for Dai at a 1:1 rate.

4.️⃣ Peg稳定性模块（PSM）是Dai稳定性的超级工具。
PSM是一种分散化的交换，允许用户以1:1的比率将与美国挂钩的StableCoin交换为Dai。

For example, if there’s a need to increase Dai supply, the Governance could vote for lower vault fees, making Dai minting cheaper and then more attractive.
Dai peg 🤝 Aligned incentives x2.

例如，如果需要增加傣族的供应，政府可以投票降低金库费用，使傣族造币更便宜，然后更具吸引力。
戴佩格🤝 我是x2。

3️⃣ Governance can change vaults parameters to align incentives.
If there’s a need to increase or decrease Dai supply to stabilize the price, the Maker Governance could change vault debt parameters to incentivize Dai issuances or burns.

3.️⃣ 治理可以更改保险库参数以调整激励措施。
如果需要增加或减少Dai供应以稳定价格，制造商治理可能会改变保险库债务参数，以激励Dai发行或燃烧。

This is the meaning of solvency: The ability to meet financial obligations.
Maker will always be able to sell this collateral to meet financial obligations to Dai holders at a 1 Dai 1 USD ratio.
Dai peg 🤝 Dai holders’ trust in Maker’s solvency.

这就是偿付能力的含义：履行财务义务的能力。
制造商将始终能够以1 Dai 1美元的比率出售该抵押品，以履行对Dai持有人的财务义务。
戴佩格🤝 Dai持有人对制造商偿付能力的信任。

2️⃣ Dai is always over-collateralized.
The over-collateralization is a feature for the health of the entire Maker Protocol system and the stability of Dai.
Maker Vaults always have more USD in collateral than all Dai in circulation.

2.️⃣ 戴总是过度抵押。
过度抵押是整个Maker协议系统的健康和Dai稳定性的一个特点。
Maker Vault的抵押品总比流通中的所有Dai都多。

If price goes ⬇️, people would buy cheap Dai and repay loans = buying pressure and supply down = price goes ⬆️.
If price goes ⬆️, people would mint cheap Dai and sell it at a higher price = selling pressure and supply up = price goes ⬇️.
Dai stability 🤝 Aligned incentives.

如果价格上涨⬇️, 人们会购买廉价Dai并偿还贷款=购买压力和供应下降=价格上涨⬆️.
如果价格上涨⬆️, 人们会制造廉价的Dai，然后以更高的价格出售=销售压力和供应增加=价格上涨⬇️.
傣族稳定性🤝 统一的激励措施。

The opposite happens if Dai is above the peg.
Dai borrowers will be incentivized to open vaults, mint Dai, and sell it to the market at a higher price.

相反的情况是，如果戴在挂钩之上。
Dai借款人将被鼓励开设金库，铸造Dai，并以更高的价格出售给市场。

But, if Dai is at 0,99 USD in the market, you’ll find an opportunity to buy cheap Dai and repay your loan.
When Dai is below the peg, Dai borrowers would be incentivized to buy cheap Dai and repay loans.
When a loan is repaid, Dai used is burnt.

但是，如果Dai在市场上的价格是0.99美元，你会找到一个购买廉价Dai并偿还贷款的机会。
当Dai低于联系汇率时，Dai借款人将被激励购买廉价的Dai并偿还贷款。
贷款还清后，用过的钱就被烧掉了。

Your Maker Vault doesn’t care about the Dai price in the market.
In its records, you’ll have the same outstanding loan of 10,000 Dai with the same 300% collateralization ratio based on your 30,000 USD worth of collateral.

你的制造商Vault不在乎市场价格。
在其记录中，你将拥有相同的未偿还贷款10000 Dai，根据你价值30000美元的抵押品，抵押率为300%。

Let’s say you minted 10,000 Dai.
Your current collateralization ratio is 300%, which is above 145%, cool.
Suddenly the Dai price lost its peg to 0,99 USD in the market.

比如说你铸造了一万枚傣币。
你现在的抵押比率是300%，高于145%，很酷。
突然，傣族的价格在市场上跌到了0.99美元。

You’ll be able to mint Dai with a maximum collateralization ratio of 145%, according to ETH-A vault parameters.
Since 1 Dai is set at 1 USD by the protocol, with 30,000 USD worth of collateral you’ll be able to mint a maximum of ∼20,689 Dai, because 145% of ∼20,689 is 30,000.

根据ETH-a保险库参数，您将能够以145%的最大抵押率铸造Dai。
由于协议将1 Dai设定为1美元，有了价值30000美元的抵押品，您最多可以造币1美元∼20689戴，因为145%∼20689是30000。

1️⃣ Dai is a currency used by the Maker Protocol to provide loans at a 1 Dai = 1 USD rate.
Suppose you put 10 ETH as collateral, which is worth 30,000 USD at current prices, in an ETH-A vault.

1.️⃣ Dai是创客协议使用的一种货币，以1 Dai=1美元的利率提供贷款。
假设你在ETH-A保险库中放置10个ETH作为抵押品，按当前价格计算价值30000美元。