‘Stable in Name Only’: Stablecoin issuer speaks out as UST crater

Since Terra began to explode, the 5-year-old over-collateralized stablecoin DAI overseen by the MakerDAO community has remained pegged and has performed an orderly liquidation of collateral overnight, a “great test of the system”. said Luca Prosperi, MakerDAO’s Lending Supervisory Leader.

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