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Maker Plans to Launch Purely Decentralized Stablecoin, PureDai

16/05/2024 09:33

According to Odaily, Rune Christensen, the founder of Maker, has announced plans to introduce a purely decentralized stablecoin, PureDai. This new development is intended to cater to users who prefer a purely decentralized vision and will serve as a supplement to NewStable. In the future, users holding DAI will have the option to upgrade their DAI to either NewStable or PureDai. The conversion to NewStable is expected to be available in the short term, while the launch of PureDai is anticipated to take a few more years. PureDai will be a purely decentralized over-collateralized stablecoin that will only be deployed on the Ethereum mainnet. It will support ETH and stETH and will rely on a decentralized oracle for operation. Importantly, PureDai will not have any governance or other budgets. Once launched, PureDai will be immutable, meaning that no further upgrades or changes will be required from the moment of its release, and it will operate entirely independently of Maker. Christensen added that until a new brand for PureDai is confirmed, PureDai will be used as a temporary name for the token.

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