MakerDAO’s Total Collateralization Stands at 15.4%; Report Says
CoinEdition
Published Mar 11, 2023 08:26AM ET
MakerDAO’s Total Collateralization Stands at 15.4%; Report Says
- MakerDAO tweeted that the total collateralization of the system is at 15.4%.
- The platform commented that there was no liquidation over the past week.
- It also announced the smooth functioning of PSM pointing out its aim to bring DAI stability.
MakerDAO, the open-source global financial system, updated its official Twitter account with the up-to-date details of the system claiming that its total collateralization is at 15.4% with $8.6 billion worth of the collateral backing $5.38 billion DAI.
Notably, on March 11, Maker DAO tweeted sharing the system’s collateralization, affirming that system has been working always as expected:
Interestingly, the platform tweeted that the PSM’s basic agenda is to provide stability to DAI quoting “PSM’s code is the law for DAI stability”.
Additionally, the tweet included a screenshot of the list of the system’s collaterals and provided a link to the makerburn’s collateral list.
MakerDAO’s Collateral List
Responding to both tweets, the crypto community began clarifying their doubts, basically regarding DAI pegged to an “unstable coin”. There were some tweeters who commented that “$0.89 is an unacceptable range”.
Comparatively, MakerDAO’s revelations presumably received challenges and suspicions rather than passive acceptance. The crypto aspirants refuted that the stablecoins are already down by 5%, and thus the claim put forward by the platform that the system is working smoothly is fallacious.
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