MakerDAO’s DAI Would No Longer Hold Its Peg: Tweets Wu Blockchain

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• Wu Blockchain tweeted that MakerDAO is planning to become resilient with its Endgame plan.
• The Endgame plan proposed to make DAI a floating asset collateralized by real-world assets.
• The floating DAI could affect the Curve Finance and Curve’s 3pool.

Wu Blockchain, the crypto news platform, tweeted that MakerDAO, a global financial system built on Ethereum blockchain, was trying to become “resilient” with its Endgame plan. It was also added that DAI, the stable coin regulated by MakerDAO, would no longer hold its peg, as it would affect the Curve’s 3pool.

Reason: MakerDAO is planning to become as resilient as possible with their Endgame Plan. DAI would no longer hold its peg, which will hugely impact Curve’s 3pool.

— Wu Blockchain (@WuBlockchain) October 4, 2022

The tweet was the follow-up of Wu Blockchain’s Tweet regarding the report released by the Crypto Risk Assesment suggesting to remove the gauge from the current DAI and form a new pool without the DAI wrapper. The reason for the suggestion to remove the guage had been put forward in the second tweet pointing out that the Endgame plan could affect the Curve’s 3pool.

In response to the US Treasury Department’s decision to sanction Ethereum mixing service Tornado Cash, Rune Christensen, the co-founder of MakerDAO proposed to implement the Endgame Plan to make the network more resilient to regulatory pressure.

Christensen’s proposal was aimed at bringing MakerDAO down the path of resilience and decentralization. But, it was understood that the plan could have a major impact on DAI and the DeFi protocols such as Curve Finance.

It was proposed that the Endgame plan would make DAI a floating asset, initially collateralized by real-world assets. In addition, for the initial three years, the coin would be pegged to the dollar. During this period, the protocol doubles down on real-world assets and a huge amount of ETH could be accumulated.

However, a free floating DAI can have a heavy impact on the Curve Finance that uses DAI and other stable coins for generating DeFi yield opportunities. The high liquidity pool 3pool would also be affected by the change. The pool might need to be restructured if the coin becomes free-floating.

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