MakerDAO Splits DAI into 'NewStable' and 'PureDAI' for Traditional Finance Integration and Decentralization
MakerDAO, the decentralized autonomous organization, is set to split its stablecoin DAI into two: 'NewStable' and 'PureDAI'. This move, part of the 'Endgame of DAI' plan, aims to address the stablecoin dilemma and create a more robust financial ecosystem.
DAI, currently a hybrid stablecoin with over 50% 'real-world assets' and 36% Ether as collateral, has been struggling to maintain its dollar peg while achieving pure decentralization and mass adoption. The upcoming split will address these challenges.
NewStable will integrate into traditional finance, ensuring regulatory compliance and the option to freeze deposits. It will serve as a bridge to the wider financial world. Meanwhile, PureDAI will strictly adhere to decentralization, secured solely by decentralized assets, potentially forming an independent value unit.
The transition will begin this year, with current DAI dollars exchangeable for NewStable or PureDAI and gradually phased out from MakerDAO's services. The decentralized autonomous organization MakerDAO will take over the rights and structures of DAI in the 'Endgame of DAI'
The split of DAI into NewStable and PureDAI marks a significant shift in the stablecoin landscape. While NewStable aims to integrate with traditional finance, PureDAI will uphold the ideals of decentralization. This move could pave the way for a more diverse and resilient stablecoin ecosystem.
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