Maker, now Sky’s, stablecoin freeze process could be decided by decentralized court
A “decentralized governance” body could decide the fate of frozen USDS if the stablecoin goes ahead with a freeze feature, says Sky co-founder Rune Christensen.
Decentralized finance (DeFi) protocol Sky’s new crypto stablecoin could have a decentralized court-like appeals process as part of its freeze function — if the feature ever goes live, says its co-founder.
Rune Christensen, the co-founder of Sky, formerly Maker, told Cointelegraph at Korea Blockchain Week that it’s possible “to design a freeze function that is much more decentralized than what you have with centralized stablecoins.”
The protocol’s stablecoin USDS, a rebrand of its Dai (DAI) stablecoin, was heavily criticized online by DeFi pundits last month over a feature allowing the tokens to be frozen.
A “decentralized governance” body could decide the fate of frozen USDS if the stablecoin goes ahead with a freeze feature, says Sky co-founder Rune Christensen.
Decentralized finance (DeFi) protocol Sky’s new crypto stablecoin could have a decentralized court-like appeals process as part of its freeze function — if the feature ever goes live, says its co-founder.Rune Christensen, the co-founder of Sky, formerly Maker, told Cointelegraph at Korea Blockchain Week that it’s possible “to design a freeze function that is much more decentralized than what you have with centralized stablecoins.” The protocol’s stablecoin USDS, a rebrand of its Dai (DAI) stablecoin, was heavily criticized online by DeFi pundits last month over a feature allowing the tokens to be frozen.Read more