Rune Christensen, co-founder of the currently rebranded Maker protocol, has clarified that there’ll be no “freeze characteristic” added to the challenge’s unique USDS stablecoin.
“In actuality there’ll be no freeze characteristic at delivery, there’ll honest be an beef up ability,” Christensen said in an Aug. 27 X post. With this beef up ability, contributors of the challenge’s governance will have the selection to resolve later how unique capabilities will be implemented to guard against “as many possibility components as conceivable.”
Crypto X Community Raises Centralization Concerns
Christensen’s X post comes after the protocol faced backlash for a supposed “freeze characteristic” in its unique stablecoin. Some on-line observers also began to ask the decentralization of the protocol. One X user that goes by the identify “Tunez” asked his 155,000 followers whether the characteristic would “utterly defeat the reason of the challenge.”
maker is rebranding to sky
more importantly, $DAI is rebranding to $USDS and introducing a freeze characteristic
doesn’t this utterly defeat the reason of the challenge? am i missing something here
— tunez (evm/acc) 🎮 (@cryptunez) August 27, 2024
Cinneamhain Ventures partner Adam Cochran said that a freeze characteristic would per chance maybe per chance be mandatory if the unique stablecoin is to be backed by US treasuries. “You’re either decentralized and to your have, or you undertake the treasury departments stick, to bag their carrot,” he said.
Maker Rebrands To Sky, Will Starting up Two Contemporary Tokens In September
Talks of a freeze characteristic arrive amid Maker’s rebranding to “Sky” this week. Boasting $7 billion price of sources, the protocol will introduce unique variations of every and each its $5 billion DAI stablecoin and its MKR governance token as segment of the rebrand.
A unique USDS stablecoin and a SKY governance token will be added to the upgraded ecosystem, whereas their predecessors will proceed to alternate on the originate market. DAI holders will have the selection to alternate their tokens 1:1 for USDS. Meanwhile, each and each MKR token can also very neatly be swapped for 28,000 SKY tokens.
Contemporary DAI and MKR holders will also have the selection to voluntarily resolve to motivate the used tokens or swap them out for the unique USDS and SKY tokens, which is ready to be launched on Sept. 15.
