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Alchemix co founder comments on MakerDAO’s new proposal: If USDe is de-anchored, it may cause damage to all projects that rely on DAI

Alchemix co founder comments on MakerDAO’s new proposal: If USDe is de-anchored, it may cause damage to all projects that rely on DAI

2024/04/03 10:30
MKR0.00%DAI+0.06%ALCX0.00%

PANews reported on April 3 that in response to "MakerDAO is considering allocating $600 million worth of DAI to USDe and sUSDe", Scoopy Troles, co-founder of DeFi lending protocol Alchemix Finance, commented: "I'm not sure I have any concerns about the rise of the DAI risk curve. How it feels. I've always liked its relatively safe and conservative nature, but my gut tells me that when (not if) the market crashes, this will most likely cause significant damage to the entire ecosystem, and This is when sUSDe is at its most vulnerable and, unfortunately, when people rely on stablecoins the most to maintain their value. 2024 is going to be a great year. However, by 2025, I’m sure we’ll have it because of the bull market People are increasingly taking risks and going back to the Stone Age. Today MakerDAO entered sUSDe to boost PSM and now all projects integrating DAI are taking sUSDe risk. All other stablecoins must have at least 20% annualized return, which prompts more Multi-protocol entered the high point of the risk curve. During this period, some funds got creative and moved further into the high point of the risk curve. In the end, the asset class that should be the most stable may become the most dangerous.”

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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