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by klochner
2984 days ago
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From the DAI site: > If the value of ether held as collateral is worth less than the amount
> of Dai it’s supposed to be backing, then Dai would not be worth one dollar
> and the system could collapse.
> Maker combats this by liquidating CDPs and auctioning off the ether inside before the
> value of the ether is less than the amount of Dai it is backing.
Note combats not prevents, it will go to zero with probability 1 [0].[0] https://en.wikipedia.org/wiki/Gambler%27s_ruin |
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