Preston Byrne on Dai

a photo of crypto expert reviewer Preston Byrne

Preston Byrne

Preston Byrne is an independent consultant that advises law firms, corporations, and the public sector on cryptocurrencies. He co-founded and worked as COO of Monax Industries, a blockchain infrastructure provider.


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

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Dai reviews by Preston Byrne

All Dai reviews by expert Preston Byrne.

  • 2018
  • Preston Byrne on Dai Independent Consultant

    Reminder: the DAI stablecoin's "stability" has failed, in the past, when bots stop functioning. Its gravity-defying character amidst a massive price collapse when the whole market is looking for liquidity makes little sense.

    Full review 💩


  • Preston Byrne on Dai Independent Consultant

    DAI has shown on at least one occasion to be majority-run by price-fixing bots. Its price peg is maintained on exchanges with minimal to no regulatory supervision. Put DAI on an exchange that aggressively polices wash trading, and if it survives maybe I'll be convinced.

    Full review 💩


  • Preston Byrne on Dai Independent Consultant

    In crypto it makes sense to do things like MakerDAO which is 300% collateralized while the price of everything goes up. In a black swan, however, this arrangement means the holder of a CDP loses money 3x as quickly on the way down.

    Full review 💩


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