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Dai is 60% backed by USDC
by fyzix 5y ago
Dai is 60% backed by USDC
- letier 5y agoThis suggests only 5% being backed by usdc: https://daistats.com/#/collateral https://daistats.com/#/collateral
- cdiddy2 5y agoThe last section, "Dai from PSM-USDC-A", is also USDC in the peg stability module.
- letier 5y agoTechnically still not 60%, but thank you for pointing this out! I was not aware of this. If i interpret this correctly, this could lead to a very high spike in interest for dai lenders on other collateral currencies, in case the usdc collateral goes bad.