CandleFocus MakerDAO wants to be compliant rather than centralized
2024-09-09
Author: Content Editor
MakerDAO, a decentralized finance (DeFi) platform, has announced its rebranding to Sky, causing concern among some DeFi fans. The platform's stablecoin, Dai, will be upgraded to Sky Dollar (USDS), and its governance token, Maker, will transition to SKY. However, the introduction of a freeze function with the USDS stablecoin has worried decentralization advocates. Industry expert Sean Lee claims that the freeze function is necessary for compliance and to prevent illegal activities. The rebranding and the inclusion of the freeze function could potentially increase USDS's global reach. MakerDAO founder, Rune Christensen, also hinted at launching a decentralized stablecoin called PureDai in the future but stated that it would not be released for several years.
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