Why Maker has NO CHOICE but to prepare to free float $DAI, according to MakerDAO co-founder Rune Christensen.
, “The Path of Compliance and the Path of Decentralization: Why Maker has no choice but to prepare to free float Dai,” Christensen disclosed miscalculating the risks related to risk-weighted assets . He stated:
“Physical crackdown against crypto can occur with no advance notice and with no possibility of recovery even for legitimate, innocent users. This violates two core assumption that we used to understand RWA risk, making the authoritarian threat a lot more serious.” While revealing the protocol’s inability to comply with regulators, Christensen suggested that “we must choose the path of decentralization, as was always the intent and the purpose of Dai.”He believes that decentralizing Maker would reduce the impact of crackdowns on the overall protocol, adding that"The only choice is then to limit attack surface by reducing RWA exposure to a maximum fixed percentage of the total collateral - this requires free floating away from USD.
It is important to note that over 50% of DAI is currently collateralized by USDC, as evidenced by daistats
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