3 ms·

DAI also depegged. Apparently DAI has 40% of its reserves in USDC... stupid kids.

• SilasX 4y ago
  While also being ~160% collateralized. I’d link more specific figures but the makerdao site, like most crypto projects, doesn’t make those figures easy to find. Edit: There you go: https://daistats.com/#/ https://daistats.com/#/ Disclaimer: somewhat motivated reasoning since I’ve left a standing order for DAI at 0.995 on an exchange, which was just filled this evening, in the expectation that DAI always returns to parity.
• lottin 4y ago
  Which goes to show there's no such thing as a decentralised stablecoin, since they're all backed with other stablecoins that aren't decentralised.
  • dylkil 4y ago
    LUSD and RAI are fully decentralised (no centralised backing), though they are not quite as stable are their centralised counterparts (yet)
    • lottin 4y ago
      Both rely on an "oracle" so probably not decentralised at all.