DAI

Django_McFly

DAI had a wild depeg prior to them changing the collateral years back to be mostly USDC.

osogordo

DAI is partially backed by USDC. It used to be 50% but it's less now.

watch-nerd

DAI is down -0.3% in last 7 days.

Burbank309

Wrong. Look at DAI or GHO for example.

coinfeeds-bot

tldr; The article analyzes the distribution of 10 major stablecoins (e.g., USDT, USDC, DAI) across blockchain networks like Ethereum, Solana, and BSC. Ethereum remains the dominant platform for stablecoins, especially those tied to DeFi and institutional use cases, while Tron is significant for USDT due to low transaction fees. Some stablecoins, like BlackRock's BUIDL, adopt multi-chain strategies to mitigate risks. The study highlights concentration risks for stablecoins heavily reliant on single chains and the growing role of Layer 2 solutions in the ecosystem. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

mrjune2040

There is really no rational reason for this to be the case. Much more likely is a de-peg to the downside related, this has happened before when USDC was assumed to have exposure via some of its cash reserves to Silicon Valley Bank—both USDC and DAI (which itself had exposure to USDC) fell to around 85c.

anymonero

I'd recommend DAI over USDC because Circle can blacklist your money.

KIG45

I looked into DAI, but it doesn't seem so reliable to me. I haven't heard of the others at all.

vrsatillx

There are decentralized stablecoins with no freeze function (DAI, LUSD, crvUSD)

biba8163

Are people still surprised that leveraged casino coin will empty your pockets? > *ETH is a casino coin whose value is a mirage derived from stacking on-chain leverage in places like Aave, Maker, etc where ETH is the dominant collateral asset for gambling for ETH and various shitcoin tokens people think are DeFi.* **When the shit hits the fan, you have cascading ETH liquidations to reveal the ugly shitcoinery lying underneath. (Feb. 2025)** https://np.reddit.com/r/CryptoCurrency/comments/1igeysk/the_eth_to_btc_ratio_just_flash_crashed_to_02337/mapylwj/ > **I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. (Feb. 2025)** > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. > BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money > It was a perfect storm. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdygp1/?context=3

biba8163

> Fundamentals have not changed You might want to learn what fundamentals are. Crypto does not have fundamentals. In traditional markets, understanding value of companies comes from fundamental analysis. Fundamentals in investing are based on revenues, earnings, future growth, return on equity, profit margins, PE, the economy, interest rates and other financial data to determine the fair market value of a company. Crypto does not have these sort of fundamentals. Crypto is based almost purely on speculation. BTC itself is a speculative asset and the entire Alt market generally have a correlation coeffieent of ~0.90 and just follow BTC up and down and inherently have no fundamental value in themselves. ETH is a double speculative asset that has been underperforming almost everything for 8 years and historically has a 0.96 correlation coefficient to BTC only appreciates when BTC goes on bullruns. - Summer 2017, ETH hits ATH of $400 after BTC hits local top of $3,000 - January 2018, ETH hits ATH of $1,400 after BTC hits cycle top of $20K - May 2021, ETH hits ATH after BTC tops out in April 2021 - Nov 2021. ETH hits ATH in December after BTC tops out in November 2021 - August 2025. ETH briefly touches past 2021 ATH after BTC breaks $120K Not only is ETH a double speculative asset but it is a leveraged on-chain casino coin that primed for liquidations in market downturns > *ETH is a casino coin whose value is a mirage derived from stacking on-chain leverage in places like Aave, Maker, etc where ETH is the dominant collateral asset for gambling for ETH and various shitcoin tokens people think are DeFi.* **When the shit hits the fan, you have cascading ETH liquidations to reveal the ugly shitcoinery lying underneath. (Feb. 2025)** https://np.reddit.com/r/CryptoCurrency/comments/1igeysk/the_eth_to_btc_ratio_just_flash_crashed_to_02337/mapylwj/ > **I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. (Feb. 2025)** > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. > BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money > It was a perfect storm. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdygp1/?context=3

biba8163

ETH investors still don't understand ETH is a leveraged casino coin > *ETH is a casino coin whose value is a mirage derived from stacking on-chain leverage in places like Aave, Maker, etc where ETH is the dominant collateral asset for gambling for ETH and various shitcoin tokens people think are DeFi.* **When the shit hits the fan, you have cascading ETH liquidations to reveal the ugly shitcoinery lying underneath. (Feb. 2025)** https://np.reddit.com/r/CryptoCurrency/comments/1igeysk/the_eth_to_btc_ratio_just_flash_crashed_to_02337/mapylwj/ > **I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. (Feb. 2025)** > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. > BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money > It was a perfect storm. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdygp1/?context=3

biba8163

I've been warning noobs like you about falling for bullshit mETH Head narratives for years and years. You need to first learn about how crypto works. Now back to school noob. > **If you think 0.04 BTC is low, the ETH/BTC ratio is going to feel like getting kicked in the nuts over and over again over the long term as the ratio falls below 0.01** and goes lower and lower. > Long term ALL Alts follow the same trend and fall below the initial BTC value they started at. Pretty much all the older Alts, even the most successful fall below this value. ETH is also trending long term to fall below this value. People talk about historic trends, patterns and cycles but this has been the only 1 undisputed and unbroken pattern for 14 years. > | | Initial | High | Current | > |:-----------|------------:|:------------:|------------:| > | LTC | 0.03 BTC| 0.048 BTC | 0.001 BTC > | XRP | 5,594 SATS| 22,500 SATS | 940 SATS > | XMR | 0.005 BTC| 0.035 BTC | 0.0029 BTC > | ETH | 0.01 BTC | 0.15 BTC | 0.041 BTC https://np.reddit.com/r/CryptoCurrency/comments/1fgzm3z/daily_crypto_discussion_september_15_2024_gmt0/ln9jvct/ > **Who the hell is buying ETH for $3,000+? That is insanely expensive. Plus, insiders, developers, VCs got a ton of the supply for essentially free and have oligarchical privilege to print their own ETH for free and dump until perpetuity.** And what does ETH even do? It's only a token in a digital casino and there are plenty of alternatives including subsidiary L2s and other cheaper casinos. https://np.reddit.com/r/CryptoCurrency/comments/1gujmk1/daily_crypto_discussion_november_19_2024_gmt0/lxzks6h/ > **I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria.** > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. > BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money > It was a perfect storm. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdygp1/?context=3

user_name_checks_out

ETH and DAI? What the fuck does this have to do with bitcoin?

MinimalGravitas

Your 'gotcha' is from Aug 19, 2021, 4 and a half years ago... Since then they implemented the toggles that I referred to above, which just eliminate entire sections of the TVL, as described in the note you have linked to... > Other TVL aggregators attempt to remove this double counting by just removing the TVL of some protocols from total TVL, but this approach leads to incorrect data. One of the most basic protocols, aave, has deposits in a lot of basic assets such as ETH and USDC, but it also has DAI and uniswap LP tokens, so if you include it into the TVL sum you will introduce some double counting, yet if you exclude it you will be excluding a lot of TVL that should be counted. Anything you do will lead to incorrect data. That means that the $74B is almost certainly an undercounting of the 'true' value. But nice try I guess...?

biosflash

Why they didn't use DAI which can't be frozen?

coinfeeds-bot

tldr; Ethereum co-founder Vitalik Buterin has expressed concerns about the long-term sustainability of decentralized stablecoins like Dai (DAI) and Djed (DJED). He highlighted three key issues: reliance on the U.S. dollar, vulnerability to governance attacks, and conflicts between staking yields and collateral usability. Buterin suggested using more resilient indexes, such as global commodity indexes, and reducing staking yields to address these challenges. He emphasized the need for decentralized stablecoins to evolve independently of traditional monetary systems to ensure resilience and stability. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ProfitableCheetah

DAI seems like a solid one. What am I missing?

Suspicious_Nature329

Single collateral DAI has shut down according to CoinGecko.

SouthJazz1010

It’s great that you mention this, because most major stablecoins have not been directly redeemable from their issuers for several years. DAI is an exception; however, if you lose your DAI, you lose the ability to reclaim or economically control the Ethereum collateral backing it.

SouthJazz1010

DAI isn't pegged to fiat.

SilasX

Correct, but a freeze on USDT/C can't target the DAI holder without hurting every DAI user.

ie485

DAI is backed by - get this - USDC and USDT (mostly)

northcasewhite

That's why they should use BTC or something like DAI to have stable value.

Pinewatch762

I earn 4% interest on my DAI and it’s off a centralized exchange. Don’t leave crypto on an exchange. Literally rule number 2.

Pinewatch762

This is why i take loans against stable coins only. I lend 15k worth of DAI. Earn almost 4% on that. If i NEED a loan? There’s zero liquidation risk. I guess if DAI depegs there’s risk.

Business-Activity379

You could lock up your BTC as collateral and borrow stablecoins without selling your BTC. Of course this comes with its own risks (If BTC falls too much). It all depends on how much LTV(Loan To Value) you want and how much of your BTC you want to deposit as collateral. For example: 1 BTC = $90,000 Collateral: 1 BTC 50% LTV → you borrow $45,000 (USDT or USDC or DAI) When do you get liquidated? It depends on the Threshold, Aave it’s typically around 70–75% let’s say 75% If BTC drops to ~$60k, liquidation starts. That’s about a 33% drop. These numbers can change you can get better deals/get more value out of your BTC. The Idea is you keep your BTC and borrow against it. You can always pay back your debt or add collateral to drop your liquidation price even lower.

Business-Activity379

You could lock up your BTC as collateral and borrow stablecoins without selling your BTC. Of course this comes with its own risks (If BTC falls too much). It all depends on how much LTV(Loan To Value) you want and how much of your BTC you want to deposit as collateral. For example: 1 BTC = $90,000 Collateral: 1 BTC 50% LTV → you borrow $45,000 (USDT or USDC or DAI) When do you get liquidated? It depends on the Threshold, Aave it’s typically around 70–75% let’s say 75% If BTC drops to ~$60k, liquidation starts. That’s about a 33% drop. These numbers can change you can get better deals/get more value out of your BTC. The Idea is you keep your BTC and borrow against it. You can always pay back your debt or add collateral to drop your liquidation price even lower.

GreenStretch

On coingecko or coinmarketcap [https://www.coingecko.com/](https://www.coingecko.com/) [https://coinmarketcap.com/](https://coinmarketcap.com/) Coinmarketcap wouldn't let me sort by volume and scroll down. their figure for DAI volume is $68,974,686, fairly far down on the list of the top 100. Coinmarketcap shows a figure way below USDT, BTC, ETH, and USDC. [](https://coinmarketcap.com/currencies/multi-collateral-dai/#markets)

alihuda1992

Educational: What's happening here is a clash between traditional banking values (central control) and crypto's original vision (decentralization). When banks call freezable stablecoins "appealing," they're essentially endorsing a feature that undermines one of crypto's core principles: censorship resistance. The ability to freeze assets means someone has authority to decide who can and cannot access their funds - exactly what Bitcoin was designed to prevent. Stablecoins exist on a spectrum of centralization. USDC and USDT have blacklisting capabilities and comply with law enforcement requests. Meanwhile, projects like DAI aim for more decentralized approaches, though they're not perfect either. This tension highlights crypto

Elean0rZ

Yeah, the DigiDollar is crypto-collateralized, specifically with DGB (DAI/USDS works similarly but has more options for collateralization). So say you want $100 DigiDollars, the first step is overcollateralization, so maybe you have to deposit $200-equivalent of DBG in order to be issued your $100 DigiDollars (the exact ratio depends on current market conditions). Under normal conditions you can redeem your DigiDollars and get your collateral back, but if the markets are volatile then things get funky. First the system increases the amount of collateral needed, and then if that isn't enough it pauses DigiDollar issuance, so right there it's already not super useful as a way to preserve value in the face of falling markets--like, right when you'd want to do that, the system stops letting you acquire DigiDollars. Then if things keep going south the system starts to liquidate collateral in order to reduce the outstanding supply of DigiDollars and ensure that those that remain can be fully backed. The system's primary objective is to ensure that each outstanding DigiDollar maintains its $1 valuation, but because its collateral can fluctuate so much relative to fiat value, that means it potentially has to take drastic actions like reducing the supply. That's very different from a fiat-collateralized stablecoin where the intended value of the stablecoin is equal to the value of the thing that's collateralizing it, and the supply is inherently unaffected by what's going on within the crypto markets. To your point, I mean, it would be theoretically possible to have a decentralized fiat-collateralized system if users locked up physical cash in their possession somehow. Like if you could prove to the network that you had a $20 bill and you had locked it up, the network could then issue you $20 in stablecoins, which you could then transfer around until such time as you redeemed it and received the unlock code to your $20 bill. You'd have to figure out how to do the locking, and I think you'd also eventually run into problems if/when the total value locked ever became high enough that regulators started getting interested in what you were up to. But in theory it could work, I think.

Elean0rZ

>a decentralized version of tether Algorithmic stablecoins tried to be that. They were very hot a few years ago. The problem is, they only worked as intended *most* of the time. That's no bueno for something whose literal MO is stability. There are also crypto-collateralized stablecoins like DAI/USDS or DigiDollar, and those have worked out better, but they have a hard time scaling consistently since their collateral is subject to so much price fluctuation. Things are fine when number go up, but when number go down maintaining the pegged value potentially requires liquidation of the collateral. They also require aggressive overcollateralization to begin with, plus can only be redeemed for $1-equivalent of the collateralizing asset (e.g., ETH or DGB), as opposed to an actual $1 of fiat, which is a crucial distinction if things are really hitting the fan. To extract your intended value you still need to be able to turn around and trade that $1-equivalent for $1 of fiat, which may be difficult/impossible. In other words, yes, they do work in the sense that they keep their $-equivalent value, but the limitations inherent in how they work mean they aren't as practically useful for some of the core use-cases you'd want a stablecoin for in the first place (or at least not consistently and predictably so, depending on current market conditions). Not to suggest they have no use, especially if decentralization is paramount, but their utility can only be fully realized in a more limited set of circumstances--let's say that. All of that said, if we're talking centralized stablecoins, Tether isn't the only show in town. USDC centralized but at least it's simply and transparently so. And ones like PYUSD are also reputable.

AutoModerator

Post is by: Hagya_ant and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1p194gu/crypto_lending_just_hit_a_new_alltime_high_but/ Crypto-collateralized lending has officially surpassed its 2021 peak, reaching a new all-time high at the end of Q3 2025, according to Galaxy Research. But it’s not just about the numbers - the structure of the lending market today looks very different from the last cycle. Back in Q4 2021, on-chain borrowing made up 48.6% of the total market. Fast forward nearly four years later, and that figure has jumped to 66.9%. DeFi lending protocols like Aаve and Cоmpound, alongside collateralized debt positions (CDPs) like MakerDAO’s DAI, have taken a larger share of overall crypto credit. Even within on-chain activity, the mix has shifted dramatically: In 2021, CDPs represented 47% of on-chain borrowing. By Q3 2025, that dropped to just 16%, while lending apps now dominate with over 80%. That means the market is moving away from synthetic, crypto-backed stablecoins and toward lending based on centralized stablecoins like USDT and USDC. On the CeFi side, Tether, Nехо, and Galaxy remain the top three tracked lenders by Galaxy Research: Tether – $14.6B open loans (≈59.9% market share) Nехо – $2.04B (≈8.4%) Galaxy – $1.8B (≈7.4%) Together, these three control more than 75% of the CeFi lending market. That level of concentration signals maturity and trust consolidation. For Nехо, holding over $2B in outstanding loans puts it firmly in the global top tier of digital asset lenders. Even with small fluctuations in market share, its consistency highlights user confidence and operational strength. Overall, this cycle’s leverage is more transparent, better collateralized. The industry hasn’t just bounced back - it’s evolving. What do you think: are we finally seeing crypto credit mature into real financial infrastructure, or just the next stage before another leverage reset? Source: https://galaxy.com/insights/research/crypto-leverage-q3-2025-defi-cefi-lending-digital-asset-treasury-debt-futures-perpetuals *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Arijan101

>sorry for your money loss... you seem very exhausted and emotional. Nor have I lost anything, nor is my reaction emotional, it's plain common sense. More selling=price goes down, More buying= price goes up. >but i totally agree... why buy BTC for 126k when you can buy it much cheaper? it was 89k 1 year ago and it was 89k again today. BTC was 69k in 2021 and 69k again in 2024. Buy it or don't buy it at any price you seem fit, I don't see how this is relevant to the conversation. >if you look for something more financial and emotionally stable take a look at DAI, USDC USDT. You don't need to shill stable coins to me, I know what they are. >idk why you are so angry at me. i have a feeling we very much agree. and yes there is a lot of selling going on. even in the stock market. so you win BTC lose... happy? I'm not angry, just pointing out the obvious. >BTW. you know about liquidations right? say someone sell a bit ammount of BTC causing a price drop so big it causes major liquidations. then buy back more than they initally sold.... price is now still lower than what it was before they sold. It's called market manipulation, major exchanges and whales are doing it all the time. This is exactly what OP's data shows. At around 90k major exchanges are massively exchanging their stable coins for BTC aka buying, in order to liquidate as many short sellers as they can. >Supply and demand. at the current price BTC needs a positive inflow of $42M daily to not drop in price with its current inflation. Here is some info from [Tokenomist.ai](http://Tokenomist.ai) This is irrelevant data, as long as a few big players have enough resources to easily manipulate the market.

Gubbie99

sorry for your money loss... you seem very exhausted and emotional. but i totally agree... why buy BTC for 126k when you can buy it much cheaper? it was 89k 1 year ago and it was 89k again today. BTC was 69k in 2021 and 69k again in 2024. if you look for something more financial and emotionally stable take a look at DAI, USDC USDT. idk why you are so angry at me. i have a feeling we very much agree. and yes there is a lot of selling going on. even in the stock market. so you win BTC lose... happy? oh wait... OP shows data that signals more people buying in. BUT ETF outflows is still very much negative. you know Schrodingers cat? Could very much be this case. (a lot of individuals buying back in at these prices and at the same time whales are still selling) BTW. you know about liquidations right? say someone sell a bit ammount of BTC causing a price drop so big it causes major liquidations. then buy back more than they initally sold.... price is now still lower than what it was before they sold. Supply and demand. at the current price BTC needs a positive inflow of $42M daily to not drop in price with its current inflation. Here is some info from [Tokenomist.ai](http://Tokenomist.ai) [](https://tokenomist.ai/bitcoin) $42.20Mper day [](https://tokenomist.ai/solana) $9.90Mper day [](https://tokenomist.ai/ethereum) $8.33Mper day [](https://tokenomist.ai/official-trump) $4.95Mper day i think you are in the wrong sub if you are not interested in discussing various aspects of the crypto markets. now i think some see BTC at 30% discount from ATH and some might just follow stock markets investment sentiment. either way. people might have different ways to invest their money.

DreamingTooLong

If tether imploded wouldn’t USDC and DAI, PYUSD, and USD1 quickly take its place?

Dreadnought_69

I borrowed DAI against WBTC collateral and got rekt.

DigitalHierophant

Not to be a shill, but I've been using crypto .com's app and debit cards for awhile now for this very reason. It's the closest thing to "professional crypto banking" that i've seen. Hyper secure platform where there is the proper amount of irritation. If you're wise, you gamify their debit card lock up periods by stacking/locking up during the bear to get those debit card perks, while safely enjoying CROS slow appreciation. Locking up during this phase of the bull market would be hyper dumb. To your stablecoins point though, it's all fun and games until governments start remote locking those assets. I'm looking into alternative stables in advance (DAI, PAX Gold, Etc)

LinusVPelt

Thank you. However EU regulations can only stop stablecoins on CEXs, right? They cannot prevent traders to use USDT or DAI on DEXes. I also wanted to understand how MiCA will ban non stablecoin assets: what are the specific norms against them? Surely, if the Clarity Act will impose AML on defi protocols, it will be the end of defi in the US.

50EAGLE

No problem. When I say 95% (which is an exaggerated number) culled, I don't mean overnight. What I do mean is when CLARITY (US) and MiCA (EU) are fully live, a good bunch of tokens that live on regulated, fiat-on-ramp exchanges will be TINY compared to now. Here are the facts, millions of tokens currently. But more than half of all tokens since 2021 have died from market forces alone. [source (coingecko)](https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed) , [source ( tradingview)](https://www.tradingview.com/news/newsbtc:081cf0629094b:0-crypto-graveyard-50-of-tokens-have-failed-in-the-past-5-years-report/) . For the past year we are already seeing non-compliant assets and stablecoins get restricted or delisted for EU under MiCA. Big Examples such as TETHER, DAI, USDP, PAXG etc. They get hit first for being big and systematically important, if they saw 60-80% of volume going through these stablecoins, theyre gonna focus on rule enforcement there first. Not to mention the MiCA explicitly targeted stablecoins first. But believe me, microcaps will get a taste of it soon. So natural failure rate + higher regulatory bar + exchange risk management = why I came up with a 90-95% culling rate. Think of the many microcaps that are actually going to be bothered to get licensing, disclosures, clear classification of assets, AML, capital requirements, thats a hell lot of effort for the many cryptos that have little to no business model. So naturally, most of the market will cease to exist. And if your lucky , you are holding an asset that is ironclad and you will enjoy the inflows. Just an opinion, but a belief I hold very strongly.

Nixisworld

We have USDC, USDT, even DAI and some mfs still choose to use something else that has a higher chance going to zero...

DBRiMatt

Good callout. DAI just needs more trading pairs supported!

Every_Hunt_160

Accumulate the Big 3: USDT, USDC and DAI

whisperedstate

I have taken out stablecoin loans on my ETH (minted DAI) and I've supplied liquidity to AMMs on Uniswap. I've also used prediction markets on Polygon, and I have bought some ENS domains in order to make transacting on chain easier. This is just a few things I've done with crypto.

biba8163

> I think one day people will realize how insane a run ETH had in 2020/21 and fools were forever chasing that euphoria. > One of the things people seem to be missing is how much of a leveraged casino coin ETH was that drove this rise. Before the bullrun started in 2020, ETH was sitting at a relatively small ~$30 Billion marketcap. DAI was also sitting with $250 Million minted. > BTC started running in Q3 and by peak of the run, ETH was used locked as the native asset to mint $6.2 Billion in DAI. That $6.2 Billion is a massive injection of money into $30 Billion marketcap with an undertoe of a parabolic BTC bullrun and bullish sentiment. Compare that to the total of only ~$3 Billion inflow into ETFs today when ETH is ~$300 Billion marketcap and it's easy to see why the marketcap won't budge much. > Leveraging ETH to pump its markecap is not dissimilar to burning LUNA to mint UST which drove LUNA to a $40 Billion marketcap. Everyone calls that a scam mechanism but the same type of mechanism that pumped ETH is considered DeFI. > BTC parabolic moves, leveraged native ETH to mint DAI, DeFi casino narrative, NFTs, staking hype, triple halving memes, ultra-sound monies.......and Covid lockdown and money > It was a perfect storm. https://np.reddit.com/r/CryptoCurrency/comments/1indhrk/daily_crypto_discussion_february_12_2025_gmt0/mcdygp1/?context=3

alterise

Only DAI. Another important property of DAI is that it’s immutable and non-upgradeable. USDS like the other centralised stable coins are all upgradeable and censorable.

UnspeakableHorror

Nope, USDS can be frozen too. DAI was the one that couldn't be frozen. >USDS’ freeze function “is generally expected to follow rule of law from jurisdictions where Maker needs a high level of certainty that the legal system will enforce recourse against real-world asset collateral.” >Maker insiders noted that although the intention is to activate the remote freeze function, the exact timeline for activating it on-chain might be months or even years.

poginmydog

The only non-volatile, non-algo, fully backed by unrelated asset, unstoppable (cannot be frozen) is probably USDS (DAI).

XFYIO

Quietly !!! 😂😂😂 Eth hard fork, eth becoming POS, Ghosting POW projects by exchanges Death of DAI ( because Eth is simply mintable now ) Dex's implementing regional restrictions ( what a fucking joke ) 😆 BTC is the only real thing left ( so far ) .

uncapchad

yeah I was quite surprised too. I thought DAI was 3rd largest but seems Ethena with it's yield offering, took over at some point. Depeg is quite serious, means there's a flaw in the algo. *Binance acknowledged the incident and initiated a comprehensive review of affected users and potential compensation measures*

DBRiMatt

Same reason why DAI isn't as popular. Trading pairs just leads to the ongoing theme that USDC and USDT are the ones to hold/use

ronchon

In Aave, current usd (GHO) savings acount is at 8% apr. GHO is also arguably a better stablecoin than USDT or USDC, as it is more decentralized and the closest thing to the original DAI stablecoin: backed by verifiable over collateralization instead of trusting an entity claiming to have the corresponding reserves.

Ok_Appointment2593

DAI now rebranded as USDS

northcasewhite

How about CNY or DAI if you want USD? BTW good on you for your view. If only we had more like you in the world.

CryptoDeepDive

If you are talking about stable coins, yes they are all centralized. Some are less than others, like DAI. If you are talking about "crypto", in general, which is the original comment of this thread questioning the "purpose of crypto", then no. Bitcoin protocol is decentralized.

MichaelAischmann

I don't think this is accurate. **Coins** (chain native assets like BTC, ETH, SOL) are not smart contracts. Most **tokens** (like DAI, USDT, LINK, UNI or NTFs) are smart contracts, regardless of the chain they live on. There are only very few examples of tokens that are chain native & therefore aren't smart contracts. A few such tokens are Colored Coins (early Bitcoin “tokens”), Algorand Standard Assets (ASA) or Cardano Native Tokens.

HellboundLunatic

>DAI does not have this functionality (at least not at this time) but isn't DAI mostly collateralized by USDC? or has that changed?

Ok-Ship812

Never forget that Tether (and USDC) can freeze any address they wish. A ln associate of mine has over 2m frozen in an account with routine large transactions all of which could pass any fiscal audit. Despite the paper trail the block has been in place for months and now requires lawyers to try to remove it. DAI does not have this functionality (at least not at this time)

Then_Helicopter4243

For me, liquidity and ease of settlement usually matter more than which stablecoin i use. But i do think decentralized options like DAI/FRAX have room to grow if trust in centralized issuers gets shaken.

GreedVault

Cant they just cash out of DAI directly?

coinfeeds-bot

tldr; A crypto wallet linked to a $300M Coinbase hacking scam has purchased 3,976 Ether worth $18.9M at $4,756 per token, using 18.911M DAI. The wallet, under surveillance for its ties to a social engineering scam targeting Coinbase users, has made significant trades, including $8M in Solana and over $14.85M in Ether earlier this year. The latest purchase coincides with ETH's price rising above $4,700, reaching a local high of $4,763. Blockchain analysts continue to monitor the wallet's activities closely. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

emojidomain

If USDT vanished, which would win flows first: USDC for compliance or DAI for decentralization?

emojidomain

Agree that many treat stables as a timing hedge. If USDT vanished, do you think traders rotate to USDC/DAI seamlessly, or would spreads explode for a bit?

Any-Dragonfruit8363

Good news for DAI and USDC and other stablecoins, I guess?

AutoModerator

Post is by: Animalverse and the url/text [ ](https://goo.gl/GP6ppk)is: https://animalverse.social/need-cash-crypto-loans-are-the-solution/ Many people have probably encountered this problem: holding cryptocurrencies at a value lower than the purchase price. Selling them would result in a loss, but the money is still needed. These days, there’s a simple solution: simply use your crypto as collateral for a loan, and you can easily get the money you need. What is a crypto loans? Crypto Lending / Crypto Loan is the process of using your cryptocurrencies as collateral to borrow money in the form of stablecoins (e.g. USDT, USDC, DAI) or fiat currencies (e.g. USD, EUR, THB) without having to sell your crypto holdings. Example: Use crypto as collateral → Get money to use → Once the debt is repaid, get crypto back. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

coinfeeds-bot

tldr; One year after MakerDAO's transition to Sky, aimed at modular governance and ecosystem scaling, adoption has been mixed. While Sky oversees $7.8 billion in stablecoin liabilities, metrics for its stablecoins, DAI and USDS, have stagnated. Despite $44M in development costs and $100M annual expenses, USDS has not gained significant market share. Governance has shifted to the SKY token, and staking rewards show promise. Sky is pivoting toward capital formation strategies, but broader adoption remains a challenge. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

paidzesthumor

Under GENIUS there’s no regulated, practical way to pay with DAI so you’ll likely never find a US business that will accept it, because its bank cannot accept it.

Kindly-Counter-6783

Here are some serious parameters for investing in crypto. Mind-Blowing, Little-Known Crypto Concepts **1. Liquidity = Life Force** * **What most don’t know:** A token can look “valuable” on CoinMarketCap, but without liquidity it’s just paper wealth. Price ≠ real exit. * **Real-World Example:** Imagine your house is “valued” at $10 million. But if only one buyer is willing to pay $3 millions, your real liquidity is $3 millions. Same with low-liquidity coins → you *can’t sell at the displayed price*. * **Insider Trick:** Always check “liquidity depth” in pools/exchanges before buying anything new. **2. Tokenomics Beat Hype** * **What most don’t know:** Supply mechanics matter more than marketing. A token with infinite supply (like DOGE) behaves differently from a deflationary one (like ETH after EIP-1559). * **Analogy:** Owning a business. One prints new shares every day (inflation), the other buys back shares (deflation). Which stock would you rather hold long-term? * **Insider Trick:** Look at *vesting schedules*. If 80% of supply unlocks next month for insiders, price will crash. **3. MEV (Miner/Maximal Extractable Value)** * **What most don’t know:** Bots & validators *front-run your trades*. * **Analogy:** You go to a gold shop to buy a coin. A middleman sneaks in, buys it 1 second before you, then sells it to you for 2% higher. That’s what bots do on Ethereum. * **Insider Trick:** Use MEV-protected exchanges like **CowSwap** or aggregators to avoid silent losses. **4. Stablecoins = Shadow Banking** * **What most don’t know:** Tether (USDT) and USDC aren’t just “stable money,” they’re *unregulated central banks*. They print billions of “dollars” without full audits. * **Analogy:** Imagine your neighborhood grocery issuing its own “gift coupons” and everyone in town starts using them as money. Suddenly, the grocery owner is more powerful than your local bank. * **Insider Trick:** Always diversify stablecoin holdings (USDT + USDC + DAI) because one failing could wreck portfolios. **5. Whale Games & Liquidity Hunts** * **What most don’t know:** 90% of liquidation crashes are *engineered*. Whales push prices to trigger stop losses. * **Analogy:** A shark sees a fishing net full of fish. He smashes the net to make the fish panic and scatter, then eats them cheap. Whales do the same → forcing liquidations to buy cheap. * **Insider Trick:** Never place obvious stop-losses at round numbers (like $20,000 BTC). That’s *exactly* where whales hunt. **6. Network Effects > Technology** * **What most don’t know:** The “best” blockchain doesn’t always win. Adoption beats tech. * **Analogy:** QWERTY keyboards are not the most efficient, but everyone uses them, so they dominate. Same with Bitcoin/Ethereum → their network adoption matters more than speed or cost. * **Insider Trick:** Invest in ecosystems with strong developer + user community, not just fast transactions. **7. Governance is Power** * **What most don’t know:** In DAOs and DeFi, holding governance tokens = *controlling the protocol*. Insiders quietly accumulate governance tokens to steer projects in their favor. * **Analogy:** Owning a few shares of a company doesn’t matter, but if you hold 51% voting rights, you can change the CEO. Same with DAOs. * **Insider Trick:** Watch where venture capitalists accumulate governance tokens — they’re future puppet masters. **8. Time Horizons Change Risk** * **What most don’t know:** Every crypto strategy works… until it doesn’t. * **Analogy:** Playing musical chairs. If you’re in for 30 seconds, you win. If you stay for 5 minutes, the music stops and you’re wrecked. * **Insider Trick:** Decide *before entry* → is this a 1-hour trade, 3-month swing, or 5-year HODL? Otherwise you’ll get trapped. **9. Narratives Pump Markets More Than Fundamentals** * **What most don’t know:** Most bull runs are driven by *stories*, not facts. “DeFi Summer,” “NFT Boom,” “AI + Crypto.” * **Analogy:** Think of fashion trends. It’s not about the *quality* of the fabric but the *story* behind it. Crypto markets behave the same. * **Insider Trick:** Spot the next narrative before retail does → AI tokens, RWA (real-world assets), privacy, etc. **10. Your Private Keys = Your Citizenship** * **What most don’t know:** Owning crypto isn’t about speculation — it’s digital sovereignty. * **Analogy:** Imagine your passport and bank account rolled into one key. If you lose it, you’re stateless and penniless. If you guard it, you’re your own nation. * **Insider Trick:** Use multisig wallets or hardware wallets like Ledger/Trezor. Treat them like your passport + house deed combined. ⚡ These are the **hidden layers** of crypto most beginners never even glimpse. The top 1% insiders profit by understanding these invisible rules of the game.

CryptoAd007

> DAI freezing: that’s MakerDAO’s decision, not ours. So, DAI is issued by MakerDAO directly on Polygon? I thought it's smart contract is on Ethereum only. Where can I check the chains on which DAI is directly issued by MakerDAO? > Gas sponsorship: already possible through meta-transactions. Expect more apps to adopt this. No! As a dev I can not move DAI on POL, where gas fee is paid by a dedicated funding address. This is possible for DAI on SOL though. Am I missing something here? Also, if possible, join the @CryptoIndiaUnited Telegram group and participate in the Crypto discussions with Indian retail investors.

0xpolygonlabs

* DAI freezing: that’s MakerDAO’s decision, not ours. * Native stablecoin: no current plans.  * Gas sponsorship: already possible through meta-transactions. Expect more apps to adopt this.

Altruistic-Buy8779

USDT is centralized it isn't exactly where you go to avoid centralization. DAI is decentralized.

epistmeme

I agree with Vitalik. Cross chains introduce new security problems. Vitalik's reddit comment from 2022 pasted below: The fundamental security limits of bridges are actually a key reason why while I am optimistic about a _multi-chain_ blockchain ecosystem (there really are a few separate communities with different values and it's better for them to live separately than all fight over influence on the same thing), I am pessimistic about _cross-chain_ applications. To understand why bridges have these limitations, we need to look at how various combinations of blockchains and bridging survive 51% attacks. **Many people have the mentality that "if a blockchain gets 51% attacked, everything breaks, and so we need to put all our force on preventing a 51% attack from ever happening even once". I really disagree with this style of thinking; in fact, blockchains maintain many of their guarantees even after a 51% attack, and it's really important to preserve these guarantees.** For example, suppose that you have 100 ETH on Ethereum, and Ethereum gets 51% attacked, so some transactions get censored and/or reverted. No matter what happens, you still have your 100 ETH. Even a 51% attacker cannot propose a block that takes away your ETH, because such a block would violate the protocol rules and so it would get rejected by the network. Even if 99% of the hashpower or stake wants to take away your ETH, everyone running a node would just follow the chain with the remaining 1%, because only its blocks follow the protocol rules. More generally, if you have an _application_ on Ethereum, then a 51% attack could censor or revert it for some time, but what comes out at the end is _a consistent state_. If you had 100 ETH, but sold it for 320000 DAI on Uniswap, even if the blockchain gets attacked in some arbitrary crazy way, at the end of the day you still have a sensible outcome - either you keep your 100 ETH or you get your 320000 DAI. The outcome where you get _neither_ (or, for that matter, _both_) violates protocol rules and so would not get accepted. Now, imaging what happens if you move 100 ETH onto a bridge on Solana to get 100 Solana-WETH, and then Ethereum gets 51% attacked. The attacker deposited a bunch of their own ETH into Solana-WETH and then reverted that transaction on the Ethereum side as soon as the Solana side confirmed it. The Solana-WETH contract is now no longer fully backed, and perhaps your 100 Solana-WETH is now only worth 60 ETH. Even if there's a perfect ZK-SNARK-based bridge that fully validates consensus, it's still vulnerable to theft through 51% attacks like this. **For this reason, it's always safer to hold Ethereum-native assets on Ethereum or Solana-native assets on Solana than it is to hold Ethereum-native assets on Solana or Solana-native assets on Ethereum**. And in this context, "Ethereum" refers not just to the base chain, but also any proper L2 that is built on it. If Ethereum gets 51% attacked and reverts, Arbitrum and Optimism revert too, and so "cross-rollup" applications that hold state on Arbitrum and Optimism are guaranteed to remain consistent even if Ethereum gets 51% attacked. And if Ethereum does _not_ get 51% attacked, there's no way to 51% attack Arbitrum and Optimism separately. Hence, holding assets issued on Optimism wrapped on Arbitrum is still perfectly safe. The problem gets worse when you go beyond two chains. If there are 100 chains, then there will end up being dapps with many interdependencies between those chains, and 51% attacking even one chain would create a systemic contagion that threatens the economy on that entire ecosystem. This is why I think zones of interdependency are likely to align closely to zones of sovereignty (so, lots of Ethereum-universe applications interfacing closely with each other, lots of Avax-universe applications interfacing with each other, etc etc, but NOT Ethereum-universe and Avax-universe applications interfacing closely with each other) This incidentally is also why a rollup can't just "go use another data layer". If a rollup stores its data on Celestia or BCH or whatever else but deals with assets on Ethereum, if that layer gets 51% attacked you're screwed. The DAS on Celestia providing 51% attack resistance doesn't actually help you because the Ethereum network isn't reading that DAS; it would be reading a bridge, which _would_ be vulnerable to 51% attacks. To be a rollup that provides security to applications using Ethereum-native assets, you have to use the Ethereum data layer (and likewise for any other ecosystem). I don't expect these problems to show up immediately. 51% attacking even one chain is difficult and expensive. However, the more usage of cross-chain bridges and apps there is, the worse the problem becomes. No one will 51% attack Ethereum just to steal 100 Solana-WETH (or, for that matter, 51% attack Solana just to steal 100 Ethereum-WSOL). But if there's 10 million ETH or SOL in the bridge, then the motivation to make an attack becomes much higher, and large pools may well coordinate to make the attack happen. So cross-chain activity has an anti-network-effect: while there's not much of it going on, it's pretty safe, but the more of it is happening, the more the risks go up.

Natural_NoChemical

Tedra USD isn’t a widely recognized stablecoin, huge fees like $1500 to move $40k are a massive red flag. Most legitimate stablecoins (USDT, USDC, DAI) have transfer fees under a few dollars on the right networks. This sounds like a scam project designed to trap funds with high ‘exit fees.’ Be very cautious and research if the coin is even supported on major wallets/exchanges before trying to move it.

CryptoAd007

1. Is DAI on Polygon freezable? 2. Does Polygon have any plan to issue it's own StableCoin? 3. Does Polygon have any plan to allow Token movement on base layer, where Gas is paid by a third party address?

coinfeeds-bot

tldr; The hacker behind a recent Coinbase breach used stolen funds to purchase 38,126 Solana (SOL) worth $7.9 million. The hacker converted DAI to USDC, bridged to the Solana network, and bought SOL at an average price of $208.7. This marks the third major asset move since the May breach, which affected 70,000 users through a social-engineering attack. Coinbase refused a $20 million ransom and pledged to reimburse customers, incurring remediation costs of up to $400 million. The hacker's actions align with bullish sentiment around Solana's price trajectory. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Cannister7

Ok, I found the "top up" button where you can receive crypto. Just USDC, USDT or DAI on Polygon. I don't really have any stables to spend at the moment but I'll try it out at some point. I'm always suspicious of fees with this kind of thing though, especially as I'll be going into Aus dollars, but we'll see.

Glad_Investigatorr

Use a DEX and exit into stables, spread across DAI, USDC, LUSD, USDT. The more decentralised the stable the better (DAI, LUSD)

0x456

It's stablecoin season this time. Just look at all the progress with USTD/USDC/DAI/USDE etc

InternalOpen7578

DAI and USDC. Usdt is risky.

Biggerfooter

Depends on how much, USDC and USDT and some others are centralized meaning they can freeze your funds. Look into some decentralized ones maybe, like DAI?

Ilovekittens345

> How would you actually pull off cleaning and using that money? Use tails (a linux distro where everything runs over TOR) to spread whatever crypto he hid over multiple addresses, slowly use dexes like torchain to buy other crypto with it, eventually converting everything to monero, then go in the other direction and eventually end up with various usefull crypto, BTC, ETH, some ltc, some bch, some stabecoins. If he things BTC is gonna crash again maybe he wants to keep more in stablecoins like a mix of DAI, USDT and USDC. If he broke all his traces by going in and out of monero would be hard for the USDC/USDT admins to freeze his addresses. Anyway, once his monero mixing/washing is done he will have a wide range of crypto portfolio. Once in a while when he needs money he can use a crypto ATM to get cash for his crypto. He will never be able to route anything over his own bank account or those of friends/family, that's how they will get him again. But they also won't spy on him, maybe the occasional check. His best bet is doing that and then just go travel around the world with a laptop, spending a bit here and there. If he travels enough maybe he can eventually get his hands on some fake passports and stuff and try to start a new life under a new identity. Very possible when you have over 10 million dollars worth of crypto. You just got to be carefull. As to where to story the crypto, a trezor with plausible deniability. Which means when you type in passphrase 1, just a 1000 dollars worth of crypto shows up. But passphrase 2, a million dollars show up and passphrase 3, everything else. He would need a second trezor for a back up that he is not travelling with. Safety deposit box with the bank, maybe 2. All three trezors can intially be set up the same way. Even if somebody gets their hands on it, no access without the passphrase. And when under pressure he could just give up only the one with 1000 dollars or 1 million on it. He can't save the seeds anywhere. So if all those 3 trezors break he will lose it all. If you are patient and use your brain, even if you are known by law enforcement, pretty nice life you can lead with 30 million dollars worth of hidden crypto. If he does not want to travel there are other options. He can get an normal job, save up some money. Start a new account with a crypto exchange and start doing some trading. Flow some USDC in to a dex from there. Buy a low liquidy shitcoin. Now comes the trick, use the hidden 30 million dollars to pump this low liquidity shitcoin. Then on the other account quickly sell for profit. Report that profit when doing taxes. pay taxes on it. Now he has clean income every year, profit from trading. But secrely the money is coming from his hidden 30 million dollar worth of crypto that he is just using to pump low liquidity shitcoins with. He could use AI to make a shit movie about his life and then sell movie NFT's or whatever bullshit. Then use his secret stash to buy his own nft's with. There are millions of ways to pretend to make clean money in crypto. And it will be very hard for law enforcement to pin any of these pumps on him, as long as he uses monero in and out to break all the links first. If he uses the same addresses that the hacked crypto went into, they will catch him again very fast :-)

MichaelAischmann

DOJ says freeze, stablecoin issuer freezes. A synthetic stablecoin like DAI might solve this problem but also there a lot of the backing is USDC.

MichaelAischmann

1. It doesn't matter. Crypto is a global market. Other people trade against other currencies. 2. There is no right or wrong. I have no limit orders since I mostly buy & hold. Sometimes I set limits when I buy/sell but typically close enough so they'll be filled same day. 3. Hardware wallets are always best. The longer you keep a crypto & the higher the amount, the greater the need for them. 4. USDC or DAI

MichaelAischmann

Check what stablecoins are *actually* backed by. I think DAI would be an interesting asset to understand. The cool thing about stablecoins is their programmability. Imagine logistis: Scanning a QR code at a parcel's destination could automatically trigger a payment to its origin. To earn profits on stablecoins you could provide them to liquidity pools or decentralized lending protocols like AAVE. A digital dollar is more than a TradFi dollar because it has more utility, at least once its widely accepted.

coinfeeds-bot

tldr; The GENIUS Stablecoin Act and the Anti-CBDC Act mark significant developments for stablecoins in the U.S. The GENIUS Act establishes a regulatory framework for centralized stablecoins, requiring full reserves, monthly audits, and compliance with law enforcement orders. It excludes decentralized stablecoins like DAI from its scope but subjects them to future study. The Anti-CBDC Act bans the Federal Reserve from issuing a central bank digital currency (CBDC). These acts clarify stablecoin operations, potentially boosting the crypto industry while reinforcing centralized control over digital currencies. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MinimalGravitas

I think DAI is excluded because part of its backing comes from USDC, so that fraction would effectively be double-counted (roughly $1.6B of the marketcap I think). I suppose ideally they could count the portion of it that isn't backed by another stablecoin.

vrsatillx

You don't actually have to live with it tho, you're perfectly free to ignore shitcoins. If your goal is to get some unfreezable $ then just get some DAI, LUSD or crvUSD. And if you're in there to actually get out of the fiat system then get some XMR

ripple_mcgee

For example, DAI. But even that is partially backed by freezable stablecoins.

MichaelAischmann

LOL. It already has been many times. Tether & freezing assets at the request of law enforcement is practically synonymous. If you want stablecoins that can't be frozen or seized, they net to be synthetic & decentralized. DAI is on the right way except a large portion of its backing is USDC.

bitcoin_islander

It's been available forever with stablecoins like USDT, USDC, and DAI

ripple_mcgee

If you do this. You could always put some of it into a lending protocol like aave and earn interest on your usdc. I think it's at like 5% right now. Also, you might consider mixing up stable coins....USDC + EURC + DAI maybe.

thinkingperson

Doesn't these regulations apply to ALL stablecoins, including USDC, DAI, PUSD etc etc? Why single out USDT?

GreenStretch

Why is DAI showing absolutely colossal daily volumes these days?

MichaelAischmann

So cool that crypto to crypto trades are tax free in Poland. You seem well informed & in my opinion both choices are solid. DAI is issued against overcollateralized assets. If these assets drop in value they get liquidated & the proceeds are used to remove DAI from the market, thus keeping it stable. I would use DAI to support decentralization.

_Hpst_

Thanks. DAI it is then

Zarigis

Dai and USDS are essentially the same, and are actually directly interchangeable natively. USDS is objectively more decentralized than USDC, simply because a significant portion of it is backed by on-chain collateral, rather than just USD in an account. Additionally, and this is significant, Circle basically has an admin backdoor to USDC and can modify anyone's balance arbitrarily. DAI/USDS does not have this issue, although the USDS contract is upgradeable and could be modified if the governance (SKY holders) voted for it.

light_death-note

No idea. I haven't really kept up on what's going on with DAI sorry.

_Hpst_

I also forgot to ask about the USDS,. Coingecko says its rebranded DAI, but USDS seems to be centralized. Does it mean that DAI token will stop being pegged to USD or sth like that. I got into crypto because I value decentralization and idc if DAI depegs a little (like +-5%).

light_death-note

Usdc is fine unless you are doing shady things. I probably wouldn't hold DAI.

andys811

Depends what market they sell it on, there's BTCUSD, USDT, USDC, DAI, EUR, GBP, ETH, SOL... the list goes on. There's many exchanges and many markets it just depends where you buy it and what markets are available on that exchange/chain