Frances Coppola on Dai

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Frances Coppola is a financial writer. Coppola has contributed to Forbes and the Financial Times, and blogs at Coppola Comment.

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MakerDao is the company behind Dai, a stablecoin. One DAI is pegged to 1 USD.


Dai reviews by Frances Coppola

πŸ”‘ 0 positive | πŸ’© 2 negative


  • πŸ’©

    DAI is interesting but I don't think they are quite there yet. I had a chat with one of their devs over coffee a couple of weeks ago. I said that as CDPs are essentially banks, they need to think a bit more about what makes banks stable (or unstable).

    2018-05-30 | Full Review

  • πŸ’©

    I spent some time recently discussing MakerDAO's Dai with one of its developers. I don't think they quite understand what stabilises a regulated banking system, and why unregulated banking systems tend to be extremely unstable.

    2018-05-23 | Full Review

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Until the Bitcoin community ditches the cranks and adopts a sensible monetary policy that properly recognises both the need for savings to be intermediated into productive investment and the need for money to flow, Bitcoin cannot possibly operate as the anchor of the cryptocurrency ecosystem.

2018-04-11 | Full Review


Nice to see that Ethereum devs are taking the social costs of blockchain seriously. I would like to see Bitcoin devs do so, too.

2018-05-02 | Full Review


There is no reason for XRP to exist other than to enrich the founders of Ripple.

2018-07-23 | Full Review

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The collateralized model (e.g. MKR, and not Tether) is fundamentally hard to argue against.

2018-05-21 | Full Review


Maker and Dai. Dai users return capital to MKR owners through the burn mechanism. At this point, the value of MKR (the derivative) is about 18x the value of Dai (the underlying). Channelling my best Matt Levine here: "This seems... wrong."

Nic Carter, Partner at Castle Island Ventures and Co-creator of Coinmetrics

2018-05-11 | Full Review


Synthetic assets have existed for a long time and it's clear that they work, modulo the tradeoff between tail risk and capital inefficiency. That's all stablecoins are....DAI is about getting exposure to the dollar without holding it.

2018-04-21 | Full Review

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