On: Bitcoin’s reliance on stablecoins harks back to th...

[paulpauper]

all stable coins can blacklist except DAI

[fyzix → paulpauper]

Dai is 60% backed by USDC

[letier → fyzix]

This suggests only 5% being backed by usdc: https://daistats.com/#/collateral

[cdiddy2 → letier]

The last section, "Dai from PSM-USDC-A", is also USDC in the peg stability module.

[letier → cdiddy2]

Technically still not 60%, but thank you for pointing this out! I was not aware of this.

If i interpret this correctly, this could lead to a very high spike in interest for dai lenders on other collateral currencies, in case the usdc collateral goes bad.

[inter_netuser → paulpauper]

why? can't maker implement blacklists?

[fastball → inter_netuser]

DAI is managed decentrally by MKR holders so not really. At least not in a way that you wouldn't be able to do with any crypto.