Introducing Secondary Trading for MakerDAO CDPs on Bloqboard
Helping large CDP holders find liquidity and exit their positions
Today Bloqboard is excited to announce a partnership with Wyre Inc. to help large CDPs holders sell their positions over-the-counter (OTC). Starting immediately, users of Bloqboard will be able to pay down Maker CDPs balance and unlock Ether supplied to Maker CDPs without acquiring DAI.
As evidenced in Bloqboard Research’s 2018 report, MakerDAO CDPs and DAI have seen phenomenal adoption over the last 16 months. Holders of ETH have been able to maintain their positions while generating the stablecoin DAI to use for a number of purposes, including leverage.
This has been a boon to decentralized finance (open finance) and non-custodial lending over all. One downside is the need for large CDP holders to acquire DAI and MKR in currently illiquid markets to pay down their debt. DAI spot markets are shallow and have minimal liquidity. Luckily, Wyre through their partnership with MakerDAO and now Bloqboard has stepped in to help facilitate the paydown of large CDPs via a sale. Wyre is the counterparty in the sale Maker CDPs transactions.
If you have a Maker CDP with greater than $200,000 DAI drawn and would like to pay it down, please visit Bloqboard. Even if this is not the case you may originate and manage CDPs of all sizes from Bloqboard’s convenient dashboard.