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Growth In Stablecoins Is Anything But Stable

Jun 9, 2020 · 3 min read

By Tom Shaughnessy

Maker is the largest decentralized finance application on Ethereum, with $524M in ETH locked to back ~$120M worth of Dai, a decentralized stablecoin used within the DeFi ecosystem for payments, value transfer, applications and more.

 

Recently, the Maker community ran a number of polls (non-binding) to judge community support for adding 10 different assets as potential collateral for the system. New collateral sources would drive the creation of more Dai since people can take out Dai against these assets.

 

There are a few implications from the polls:

 

The new collateral types include real-world assets, such as freight invoices which would open up real-world assets to crypto as a collateral type

The addition of more collateral types could drive immense Dai creation as people are able to basically monetize their

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