News12 August 2022

According to MakerDAO founder, they should depeg DAI from the Dollar

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Due to the sensational Tornado Cash story and the freezing of USDC addresses, Rune Christensen is seriously considering unbundling DAI from the US Dollar.

The above comments by MakerDAO founder, Rune Christensen, come in light of the recent developments between the US Treasury and Tornado Cash. He urged DAO members to prepare for the DAI Stablecoin's depreciation.

"I think we should consider preparing to deregister from the US dollar. It will almost inevitably happen, and it is only realistic to do so with tremendous preparation," the MakerDAO founder.

According to Dai Stats, about 50.1% of MakerDAO's DAI is backed by USDC. Christensen expressed concern about the asset's heavy reliance on USDC's centralised asset, as Circle has shown that in the case of Tornado Cash, it will act by US law.

Rune also recently clarified that the idea of moving the pledge to ETH is not as awful as he said before on his discord. What will they do to avoid being put on the US blacklist.

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