DAI is under intense discussion in the cryptocurrency world and the decentralized finance (DeFi) space, amidst a heated debate on the potential implications of a significant upgrade in the underlying protocol. Indications suggest that platform MakderDAO, recently rebranded to
Sky, may introduce a fully
decentralized stablecoin -
PureDai, as part of an endeavor to address market dynamics. The change has however also sparked controversies surrounding potential contagion risks from the transition from DAI to a new USDe Stablecoin with concerns over
MakerDAO's EO470 allocation, and a $1 Billion DAI backed project with
Ethena Labs.
AaveDAO is consequently considering dropping DAI as collateral. Other developments include talks of a Stablecoin freeze process to be decided by a
decentralized court,
Aave launching a proposal countering
MakerDAO DAI expansion risks. Phishing scams have hit headlines, with a $55 Million DAI stolen; however, a subsequent recovery returned $9.3 million of the loot to the victim. Amidst this, DAI shattered the stablecoin volume record in April and is currently showing stability as stablecoin expansion stalls to face incoming US inflation data.
DAI Coin News Analytics from Thu, 12 Oct 2023 07:00:00 GMT to Tue, 10 Sep 2024 08:39:46 GMT -
Rating -4
- Innovation 4
- Information 8
- Rumor 2
