# AMA call - Episode #10
October 22th, 2021

## Agenda

- [00:00](https://youtu.be/mjfMNKmHUhg): Intro with Jerry Goldfarb
- [01:25](https://youtu.be/mjfMNKmHUhg?t=85): AMA with Pairwyse
- [55:02](https://youtu.be/mjfMNKmHUhg?t=3302): Outro

## Video

<https://youtu.be/6P6ojD5bpTw>

## Introduction

### Jerry Goldfarb

#### Agenda and Preamble
[00:00](https://youtu.be/mjfMNKmHUhg)

- Hello to everyone. I am Jerry Goldfarb the facilitator of the Content Production Core Unit. This is episode #09 of Ask MakerDAO. We are discussing proposal to implement fixed-rate DAI loans from Pairwyse. MakerDAO has three proposals to implement fixed-rate loans. Today we are joined by Akiva Dubrofsky and (x?)(0:37)(Ashlon) of Akiva Capital.
- For other episodes of AMA, please [check the forum](https://forum.makerdao.com/search?q=AMA%20call).

## AMA with Akiva Dubrofsky and (x?)(0:37)(Ashlon)from Akiva Capital.
[01:25](https://youtu.be/mjfMNKmHUhg?t=85)




































### Questions

[18:37 - Someone: Is fixed-rate borrowing limited to lender deposit availability or is the idea that Maker can only be that with some sort of direct deposit module?](https://youtu.be/mjfMNKmHUhg?t=1117)


[19:52 - Someone: Is there a reason why you chose to make this a borrower driven system?](https://youtu.be/mjfMNKmHUhg?t=1192)

[27:41 - David Utrobin: Has your team looked at the deco protocol solution or the term lending module solutions? Do you have any views on those approaches and some insights into how Pairwyse is different fundamentally from those?](https://youtu.be/mjfMNKmHUhg?t=1661)

[28:55 - Paper: Give everyone the (x?)(28:55)(rundown?) of your regulatory situation. And to confirm is Maker's interaction here as a lender, not a borrower? How much is Maker (x?)(29:35)(learning versus)the peer providing?](https://youtu.be/mjfMNKmHUhg?t=1735)

[32:44 - David Utrobin: It is a user experience question. When somebody creates an FRA they have to wait for the system to either match them or for another peer to be like okay, this is acceptable. Is there a range of parameters at a given time in which the FRA is created where instantly gets fulfilled, where there is not a waiting period for it to get picked up?](https://youtu.be/mjfMNKmHUhg?t=1964)

[34:37 - David Utrobin: How much is Maker lending versus the peer providing Dai for the FRA? Can you give a ratio or a figure? If somebody borrows 100k through Maker through a Pairwyse FRA, how much of it is freshly generated Dai versus (x?)(34:57)(pure/peer?) Dai?](https://youtu.be/mjfMNKmHUhg?t=2077)

[35:50 - David Utrobin: The principle is secured with the peers' Dai in the DSR. Then a fixed-rate Vault through Pairwyse might offer a cheaper rate than the floating rate in contrast to something like (x?)(36:11)(Obvi's_?) fixed-rates which are at a premium. Is it going to be possible to have cheaper fixed-term rates as a result of that additional backing?](https://youtu.be/mjfMNKmHUhg?t=2150)

[38:37 - Someone: Is it fair to say that Pairwyse touches Vaults and liquidations? Is Maker taking on two or three counterparty risks? Then is Maker taking on the fixed-rate lender and treasury risk and is it also the credit support provider?](https://youtu.be/mjfMNKmHUhg?t=2317)

[40:25 - Someone: What was the reason behind releasing both the white paper and the code after you submitted the MIP6 application?](https://youtu.be/mjfMNKmHUhg?t=2425)

[41:50 - Someone: Do liquidations work the same in this context? If someone creates a fixed-rate loan and then the value of the collateral drops, does it get liquidated as usual or do you have something in place similar to DeFi Saver to help mitigate that or how do you do?](https://youtu.be/mjfMNKmHUhg?t=2510)

[44:25 - Someone: Have you run any kind of numbers as far as a forecaster? What kind of cash flow a forecast this product can bring? If you have not, do you have some thoughts? It is a simulation if you get a TVL of 100 million, 500 million, etc.](https://youtu.be/mjfMNKmHUhg?t=2665)

[49:18 - David Utrobin: Is it right that a Dai depositor in DSR would get a better yield than the Pairwyse FRA Dai peer?](https://youtu.be/mjfMNKmHUhg?t=2958)

[52:31 - Jerry Goldfarb: Was there anything from the presentation that you did not get to and you would like to share?](https://youtu.be/mjfMNKmHUhg?t=3151)

[53:05 - Jerry Goldfarb: Do we have any final questions?](https://youtu.be/mjfMNKmHUhg?t=3185)

[54:29 - Jerry Goldfarb: What is the best way for anybody to get in touch with you?](https://youtu.be/mjfMNKmHUhg?t=3269)
## Closing Comment

### Jerry Goldfarb

#### Outro
[55:02](https://youtu.be/mjfMNKmHUhg?t=3302)
- Ashwin and Akiva thank you both for being here. Thank you to all the guests for joining.

## Credits

- Kunfu-po produced this summary.
- @gala produced this summary.
- Everyone who spoke and presented on the call, listed in the headers.