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I think this comment has it right: https://news.ycombinator.com/item?id=31414217 https://news.ycombinator.com/item?id=31414217 DAI may still be vulnerable to a
by AlexandrB 4y ago
I think this comment has it right: https://news.ycombinator.com/item?id=31414217 https://news.ycombinator.com/item?id=31414217
DAI may still be vulnerable to a liquidity crisis. I.e. if there are no buyers for the collateral. This is probably not an issue if DAI is relatively small, but what if it becomes the dominant stablecoin?
- charcircuit 4y agoFYI that did happen 2 years ago due to congestion on ethereum. Well technically there was a buyer but he bid 0 DAI to win the auctions. DAI remained pegged and they got rid of the debt by minting and auctioning off MKR.