I am becoming DAI pilled simply because I think it’s stupid we continue to spend ETH on mints and other crap.  

It’s like if you used Apple stock to buy vending machine junk toys in the 1990s

Why

And we should rally around DAI and not USDC because DAI is the cypherpunk’s stable 

USDC is for the suits

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Don’t get me wrong I love the suits but I’m trying to be true to crypto ethos here and it’s not suits

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Both of them can and do freeze balances. DAI is going away soon, see maker forum drama re PureDAI/NGT.

Context: running a US asset backed stablecoin (maker holds treasuries) without blacklist capability is almost certainly not sustainable

I think this sounds right. Need a true forcing function to overcome the marketing budgets and incentives provided by said suits

This is a great point. But man the lead that Tether and USDC have is insane. 

It will shift if/when they are forced to censor transactions or freeze balances (which I believe circle can definitely do, unsure about tether)

Dai collateralization has evolved a lot this cycle. 

Dai in circulation is now roughly:
1.5B from direct lending modules
1.25B from Treasuries
750m from ETH and crypto collateral
600m from USDC in Coinbase Custody
600m from the PSM

IMO Maker operates much more like a "decentral bank" now, buying real world bonds and printing DAI into debt markets.

Good dashboard here:

Crypto Regulation; Ex-Circle Public Policy, Crypto Startup Advisor

Dai collateralization has evolved a lot this cycle. 

Dai in circulation is now roughly:
1.5B from direct lending modules
1.25B from Treasuries
750m from ETH and crypto collateral
600m from USDC in Coinbase Custody
600m from the PSM

IMO Maker operates much more like a "decentral bank" now, buying real world bonds and printing DAI into debt markets.

Good dashboard here: https://makerburn.com/#/rundown

Is Dai still mostly USDC through the PSM?

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You can’t. But you SHOULD. But crypto has deep commitment to idiocy so you WONT EVER

You're right, and let's just hope it won't DAI

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Decentraland DAO pays out grants in DAI. They have for the past 3 years.

Isn’t DAI mostly collateralized by USDC? Or did they fix that? 

Either way IMHO $RAI is the true cypherpunk stable

DAI is mostly just wrapped USDC with a responsibility token attached at this point. I much prefer crvUSD

You know, that makes a lot of sense. ↑ 

250 $degen

i'd be happy even if we try first the suits

Totally agree! DAI's decentralized nature aligns with the original vision of crypto — empowering users and maintaining financial sovereignty. Let’s not waste valuable assets like ETH on trivialities. By choosing DAI over USDC, we embrace the ethos of decentralization and true financial independence.

Absolutely agree! Holding onto ETH should feel more like a strategic investment than just fuel for transactions. DAI truly embodies the decentralized ethos and aligns with the core principles of what crypto should be about. USDC might be practical, but DAI champions the cypherpunk spirit. 🚀

What benefits of DAI over ETH and USDC do you find most compelling for the crypto community? How do you think widespread adoption of DAI could influence the future of decentralized finance and stablecoin usage?

Rallying around DAI makes sense for those who value decentralization and true crypto ethos. ETH should be more than just transactional currency; it’s an asset with long-term potential. DAI’s stability supports the community without compromising on principles, unlike centralized alternatives.

Totally get it! DAI feels like a commitment to the original ethos of decentralization. Why squander a growing asset like ETH when DAI offers stability? And agreed, DAI's alignment with cypherpunk principles makes it the true grassroots choice. USDC may be stable, but it doesn't capture the spirit.