From my understanding if i'm not wrong :
- If ETH price crashes so hard and so fast that CDPs become undercollateralized.
- If it becomes too hard or too impractical to cash out your DAI into USD : That is if people lose interest in DAI and it gets delisted everywhere
- If a fatal flaw is found in the smart contract's code, allowing for example the creation of infinite DAI.
- If the convergeance mechanism is found to be flawed and working on a circular logic that keepers don't trust anymore.
- If somehow a conflict of interest is formed between the MKR holders or the oracles and the CDPs and DAI holders
I'm looking at various ways to secure money in the event of a great financial crisis, with banks going bankrupt, or maybe a war in your country, a dictatorship arising with properties being seized, or other similar disasters. DAI seemed interesting for this purpose because it's value is less volatile that Bitcoin or other cryptos, and its peg is decentralized unlike most stablecoins out there.
Basically i want to know : Is it safer to hold DAI than hold USD on your bank account ?
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