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Got it. I should shoot for 6. 🤝
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There are currently 5.1 billion USDC and 499 million USDP in the PSM as reserves for Dai’s liquidity. Dai peg 🤝 You can swap Dai for 1 US dollar at any time.
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Joking by the way. On a side note, one should never care about 1) things that don't matter and 2) things one cannot change If MakerDao doesn't believe DAI stability is at risk (I agree with them) 1) applies and they should just not care
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4pool goal is definitely not to destabilize dai - it is to make it less relevant, for which tbh it needed none of my help And missing the boat on utility while overallocating on collateralization is why Maker got to where they are in the first place
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Why the reason behind 4pool is not (1) to improve $ust or $frax but (2) to make $dai less relevant? The consequence on (1) might be (2) but the goal should definitely be (1) and not (2)
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I think Terra will continue spending more where it matters - $btc reserves and liquidity on $eth that’s no priority at the moment
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