Jan 26 • General discussion
pDAI Pegging and pMaker Collateral
I've had this technical question for months now, I've been asking around X and no one seems to know or want to tell me.
The basic proposal for pegging pDAI is for the OA/Sac wallets to be used to "collateralize" pDAI using the core coins. Some people, myself included, would see this as functionality inflating the market supply of the core coins massively, because someone can deposit pDAI and extract those coins into the market.
The counter argument I've been told is that those core coins could not be redeemed against. My question in response to that is: If the "collateral" cannot be redeemed against, what is it's purpose, and what then is the mechanism for keeping pDAI at $1?
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pDAI Pegging and pMaker Collateral
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