OASIS.app is part of the MakerDAO system and is the official website and portal for Trading, Borrowing DAI and Saving in the Makerdao system
It is a non custodial platform and service for minting DAI and managing the CDP vaults created by Maker.
The smart contracts have been audited and formally verified and it is the leader in the decentralised finance space.
Here you can see an example of a cdp on oasis.app whioch shows your liquidation price and how to top up your loan, borrow more and see your interest rate accruing every second.
The borrower sends his crypto currency to a smart contract and in return receives an additional amount in DAI into his wallet by the next block (~15 secs).
The user retains full ownership of the crypto currency sent which is locked to the smart contract as collateral and can be retrieved at any time by repaying the amount lent in DAI.
Send 15,000 USD equivalent of ETH to Maker smart contract
Receive up to 10,000 USD worth of DAI in loan instantly
You now have 15,000 USD worth of Ethereum under you custody locked up AND and additional 10,000 USD of DAI in your wallet.
You can do whatever you want with the new 10,000 USD but you have to pay it back plus the stability fee (in DAI or MKR) to unlock the 15,000 USD equivalent of ETH.
If ETH price goes up you win.
If ETH price falls you need to watch your liquidation price .
Maker is an Ethereum based lending platform responsible for the creation of DAI, the world’s first decentralised ‘Stable Coin’ soft pegged to 1 USD.
Maker allows any user to autonomously take out a loan (denominated inDAI) by staking Ether (ETH) as collateral. Other Ethereum based tokens can also be staked as collateral.
The Maker system is inherently permission-less , meaning that there are no requirements other than holding crypto currency or buying DAI to get started.
All loans are issued automatically by a smart contract so no human is involved in the facilitation of any loan.