Alex Van De Sande on Dai
Dai reviews by Alex Van De Sande
All Dai reviews by expert Alex Van De Sande.
The new DAI will include a Saving Rate, which is controlled by a Stability Fee, which is controlled by a Rates Policy Oracle which in turn is set by a Maker Global vote. At this point it's better to describe them as a on-chain central mint than simply an algorithmic stablecoin.
But don't take that as a criticism. Highly complex governance structures, with multiple competing incentives that try to align the Nash equilibrium to the desired outcome (in this case, "Dai still at one dollar") is exactly why Ethereum was built.Full review
MakerDAO, seems to be working fine. Just needs more diverse collateralsFull review