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You are correct. Last time I checked, more than 50% backed by USDC. Makes no sense as the whole point of censorship resistance is defeated.
by njade 5y ago
You are correct. Last time I checked, more than 50% backed by USDC. Makes no sense as the whole point of censorship resistance is defeated.
- capableweb 5y agoWhere/how did you check this? >50% of USDC sounds unreasonably high.
- shawabawa3 5y agofrom https://daistats.com/#/overview https://daistats.com/#/overview it's currently ~26% USDC It's also 200% collateralised so USDC could go to zero (or freeze all of the DAI locked USDC) without breaking the peg on DAI