1.CDP 3088

Mr. 3088, low-risk, long-term, low-leverage user, ETH ICO participant. On July 30, 2015, Genesis Block, he invested 100BTC,(equivalent to investing 28,000 US dollars) and got 200,000 ETH (ETH ICO ratio, the first two Week 1 BTC = 2,000 ETH)

On May 14th, 2016, 3088 participated in The DAO ICO and invested all 200,000 ETH. On June 12, 2016, the DAO code risk was exposed and the hacker could move all ETH out from the smart contract. By June 18, more than 3.6 million ETHs had been stolen. On June 17, Vitalik announced a proposal for the hard fork. Subsequently, for the first time the Ethereum community experienced a hard-fork choice. Everyone wavered, and the price of ETH fell from $20 to $13.

For Mr.3088, it was likely to be the most painful 30 days of his life. All of 3088’s investment may have vanished and the DAO tokens in hand had almost zero value.

On July 30, 2016, after the hard fork of ETH, Mr.3038 quickly withdraw all the ETH out. At the same time, he got 2700 ETC through ReplaySafeSplit-contract. The strange thing is, why didn’t Mr.3038 withdraw the remaining 190,000 ETC?

After 2018, Mr.3088 mainly traded on ETH2DAI, earned more ETH, tried Compound, but did not put a lot of assets on it. In June 2017, Mr.3088 received a free airdrop of 15,000 OMG, with a peak value around $370,000. And Mr.3088 didn’t sell any. Mr.3088 is staying away from ICO after the DAO hack for good.

Since December 17th, Mr.3088 has been transferring to the exchanges of Kraken, Bitfinex, Gemini about 1000 ETH per order. With the dollar cost average, he sold around 40,000 ETH. After two and a half years of waiting, even at the current ETH price 160 dollars, the profit is still more than 6.4 million dollars, and there are still 200,000 ETH in the account.

For Mr.3038, MakerDAO’s $720,000 stability fee per year is totally affordable for his portfolio. As an investor who is optimistic about ETH prices for long term, it only needs ETH to increase 5 dollars to cover the stability fee for one year.

Mr.3038 holds $36 million worth of 200,000 ETH through a cost of $28,000 in 2015. For him, the so-called over collateralization is actually to putting the $28,000 chip from 2015 and get the $8.2 million DAI credit loan out in 2019.

Collateralize : 178,921 ETH Generate: 8,280,868 DAI Mortgage rate: 26.53% CDP Open duration: 11 months Contract interaction: 71 times Stability fee: 722,986 USD Parent account: 0xa1a45e91164cdab8fa596809a9b24f8d4fdbe0f3

*Parent account : The origination of the capital inflow.