Since DAI is currently being destroyed (lemmy.sdf.org)

submitted 1 month ago by BD89@lemmy.sdf.org to c/monero@monero.town

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Does anyone know an unfreezable stablecoin that is the least at risk of becomming another TerraLuna? I love Monero but its too volatile to keep 100% of my life savings in an unfreezable stablecoin is CRUCIAL. This is such horrible news. Fuck Rune Christiansen for this shit!!

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[-] BD89@lemmy.sdf.org 5 points 1 month ago

https://forum.makerdao.com/t/reconciling-the-two-opposing-paths-for-decentralized-stablecoins/24280

It will become the next Terra Luna. They should make it new projects but they want MKR tied to its governance. Its all a cash grab and so sad. Thank you for the alternatives.

[-] Scolding0513@sh.itjust.works 3 points 1 month ago

I went through it, thanks

How exactly will this be the next Terra Luna? Maybe you can explain to me. Sorry It's been a while since I studied all that stuff and the crash happened.

But yeah, looks like they are essentially focusing all their attention on the new fed glowie coin, and pushing "PureDai" into a new DAO altogether, off to the sidelines. It will gain its peg in a fully automated form using decentralized collateral. Maybe that's the Terra Luna part you meant. But if it's overcollateralized then wont it be as strong as original DAI?

How sad. I agree with the last guy. This is sabatoge. Likely that the feds are pushing this in the background, pushing the Founder guy.

[-] goatmeal@monero.town 2 points 1 month ago

terra required too much manual intervention and also aimed to maintain a USD peg. RAI and pureDAI aren't supposed to be like that. so I wouldn't be so pessimistic. I think there is still a way to do it.