Vitalik Buterin on Dai

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Vitalik Buterin is a Russian-Canadian software developer. He co-founded Bitcoin Magazine in 2011, and wrote the initial Ethereum whitepaper in 2013.

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


Dai reviews by Vitalik Buterin

๐Ÿ”‘ 2 positive | ๐Ÿ’ฉ 0 negative


  • ๐Ÿ”‘

    If you want full crypto-decentralization, DAI still exists and works great.

    2018-10-23 | Full Review

  • ๐Ÿ”‘

    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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Now, the latest scandal in DPoS (delegated proof of stake) land seems to be substantially worse. Because the delegate rewards in EOS are now so high (5% annual inflation, about $400m per year), the competition on who gets to run nodes has essentially become yet another frontier of U.S.-China geopolitical economic warfare. . . . The EOS New York communityโ€™s response seems to be that they have issued a strongly worded letter to the world stating that buying votes will be against the constitution.

2018-03-28 | Full Review


Golem is Airbnb for your CPU :)

2016-12-18 | Full Review


I'm fine with Ethereum Classic existing. I'm just saying that I'm not interested in putting my own effort toward it.

2016-08-05 | 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


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.

2018-04-21 | Full Review

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