MakerDao’s stablecoin, Dai, which is collateralized with cryptocurrency [Ethereum by default], is collapsing, according to Preston Byrne. In his tweet thread, Byrne described that the peg for Dai has been weakening over the years and his prediction of it being “a bunch of twaddle” had turned out to be true. Since Dai is massively overcollateralized […]The post Will Ethereum-collateralized DAI resuscitate or will it collapse? appeared first on AMBCrypto.
