Great post! I still wonder about the core question though, Why would people want to stake the crypto for DAI? What can they do with the DAI that they cannot do with crypto? One use case I see is to potentially profit from a predictable spike in the value of crypto.
It's no different than taking out a loan on your house for various reasons. Let's say you bought ETH at $100 and now it's at $2500. You don't want to sell and pay taxes but you want to enjoy some of the gains--you borrow against the ETH so now you don't have to pay profits.
Great post! I still wonder about the core question though, Why would people want to stake the crypto for DAI? What can they do with the DAI that they cannot do with crypto? One use case I see is to potentially profit from a predictable spike in the value of crypto.
It's no different than taking out a loan on your house for various reasons. Let's say you bought ETH at $100 and now it's at $2500. You don't want to sell and pay taxes but you want to enjoy some of the gains--you borrow against the ETH so now you don't have to pay profits.