5 ms·
Has any DAO actually achieved anything notable?
by BrianOnHN 5y ago
Has any DAO actually achieved anything notable?
- idiotsecant 5y agoMakerDAO achieved a (mostly) autonomous peg of a crypto asset with the US dollar. I think that's pretty notable.
- disambiguation 5y agoReading about this now.. trying to understand how this is different from tether?
- idiotsecant 5y agoIt would be a very long post to go through it all, but suffice it to say it incentivizes other people to maintain the peg through bribing them with potential rewards. There is no person at MakerDAO printing new DAI like would occur with tether. The system prints and destroys DAI based on individual users acting selfishly seeking profit. The people using the system keep the peg non-altruistically. It's really quite a clever idea.