MakerDAO has announced the launch of a fully decentralized stablecoin called PureDai

MakerDAO has announced the launch of a fully decentralized stablecoin called PureDai

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by Eve Adams

2 years ago

MakerDAO, known for its stablecoin Dai, has announced the development of a new stablecoin called PureDai. This project will be implemented over several years and will offer a fully decentralized alternative to the current Dai, which is backed by various assets, including the centralized USDC. PureDai will be backed exclusively by decentralized assets such as Ethereum (ETH) and Lido Staked Ether (stETH), and will use decentralized oracles to protect against manipulation.

Enhancing Decentralization and Resilience

Rune Christensen, CEO and co-founder of MakerDAO, emphasized that PureDai will only be launched on the Ethereum mainnet, providing a more suitable tool for users focused on decentralization. The new stablecoin will use decentralized oracles to obtain price data, preventing manipulation by any organization.

The aim of this design is to meet the needs of users who value decentralization and resilience over stability backed by fiat assets. In the future, Dai users will be able to migrate to PureDai, marking a return to MakerDAO's ideological roots.

The New Stablecoin NewStable

In addition to PureDai, MakerDAO also plans to launch a stablecoin called NewStable, intended to replace Dai. NewStable will focus on growth, yield, and resilience while maintaining a peg to the US dollar and complying with regulatory requirements for real-world assets (RWA). Unlike PureDai, NewStable will be integrated with traditional financial systems, making it more suitable for mainstream adoption.

Dual Stablecoin Strategy

MakerDAO expects users to gradually transition to the new stablecoins over several years. The dual strategy of introducing PureDai and NewStable provides users with a choice between full decentralization and a regulated fiat-pegged option, catering to different needs and preferences.

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