Alex Van De Sande on Dai

A zero knowledge DAI implementation working live on the main chain: https://github.com/AztecProtocol/AZTEC …
Programmable, private, stable. We're slowing approaching the holy grail of currencies.

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.

Baby started saying "dai-dai-dai" and I'm very proud she understands how the price stability of the Dai is not only a refuge during very volatile periods, but that it reminds us of the real value of the platform that allows a correct implementation of underlying mechanisms.

MakerDAO, seems to be working fine. Just needs more diverse collaterals