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Last I heard, Dai was backed over-collateralized crypto, like ETH. Even Coinbase says so: > Unlike centralized stablecoins, DAI isn't backed by US dollars in a
by flixic 5y ago
Last I heard, Dai was backed over-collateralized crypto, like ETH. Even Coinbase says so:
> Unlike centralized stablecoins, DAI isn't backed by US dollars in a bank account. Instead, it’s backed by collateral on the Maker platform.
https://help.coinbase.com/en/coinbase/trading-and-funding/cryptocurrency-trading-pairs/dai-faq https://help.coinbase.com/en/coinbase/trading-and-funding/cr...
- rodiger 5y agoYou should take a look at the breakdown... USDC is such a large portion of Dai backing (62%) that it's deemed an existential risk. They're working on reducing the reliance though with more stablecoins and more collateral classes. https://share.streamlit.io/tadzz/maker_dai_collateralization_2/main/dai_collateral_app.py https://share.streamlit.io/tadzz/maker_dai_collateralization...