I read the whitepaper, it is interesting. I am just a little concerned about them using auto loans to earn the income to generate the 6.25% APR. I understand the US auto loans is rather inflated, so in the event of a collapse, there might be some serious systemic risk. This is mitigated by overcollaterization though.
The other point is that I am not sure if the DMM foundation itself is audited in terms of how they handle the treasury and the real-world assets. I understand they have partnered with Chainlink to be as transparent as possible but for now, it still seems rather murky.
Personally, I am willing to give it a shot for that sweet 6.25% interest though.
RE: New DEFI project DMM: worth a look