MakerDAO Announces PureDai as a Fully Decentralized Alternative to Dai
Thursday, 16 May 2024, 17:44
Making a Move Towards Pure Decentralization
Rune Christensen, CEO of MakerDAO, shares the vision for PureDai, a stablecoin backed solely by decentralized assets like Ethereum and stETH, aiming to enhance decentralization and resilience.
The Shift to PureDai
PureDai will operate on Ethereum's mainnet, leveraging decentralized oracles for price feeds, signaling a move away from a direct USD peg in favor of complete decentralization.
Transitioning to Pure Decentralization
- PureDai, a stablecoin by MakerDAO, will utilize Ethereum and staked Ether as collateral.
- PureDai leverages decentralized oracles for pricing and will offer a free-floating peg, emphasizing decentralization over USD stability.
- The system is designed for a smooth transition, with future users having the option to upgrade from Dai to PureDai.
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