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by DennisP
2743 days ago
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The only external input to Maker/DAI is a collection of ETH price feeds. The rest is an open market. I'm sure some market participants use bots, but that's true in every financial market these days. I was skeptical of Maker at first, and they are backed by ETH, but they've stayed within 1% of their target price while ETH dropped 94%, so it seems to be working pretty well so far. They're working on a multi-collateral version. |
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I'm not sure which charts you are following, but as recently as yesterday they were 5% off target: https://coinmarketcap.com/currencies/dai/#charts