DAI At Risk?Aug 19, 2021
With increased regulatory oversight over stablecoins, most dollar-pegged coins are at risk. This is most obvious for USDT and USDC. Let’s take a look at the risks associated with MakerDAO’s DAI. Over 70% of the assets backing the DAI stablecoin are centralized. USDC makes up the majority of this figure accounting for >60% of Maker‘s vault assets.
It’s important to note that even though DAI is still the most widely adopted decentralized stablecoin, the rise in the share of USDC in MakerDAO’s vaults means DAI is not out of regulators’ reach.