Makes sense. Every asset is risky and we just know/believe that ETH is less risky and will only be successful in future, compared to other coins.
The point I thought of DAI as a stablecoin is to have no counterparty risk. If you use asset backed stablecoins as collateral for DAI you introduce counterparty risk
If I'm not mistaken, other assets were also supported before as collateral for DAI. And now hey just introduced 3 more. 🤔
Although the issue they have now is that they have added other assets apart from ETH which doesn't make any sense
#Oasis is also a great app, beautiful #design, and quick to understand and grasp and get do the trades quickly.
In some ways, I am sad to see go as the new day is more exposed to #CeFi as well having and and on the pool. Hopefully not a systemic risk.
The Maker Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by “Maker Governance.” Maker Governance is the community organized and operated process of managing the various aspects of the Maker Protocol. Dai is a decentralized, unbiased, collateral-backed cryptocurrency soft-pegged to the US Dollar. Resistant to hyperinflation due to its low volatility, Dai offers economic freedom and opportunity to anyone, anywhere.