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MakerDAO wants to be compliant rather than centralized

Summary of MakerDAO Rebranding to Sky

MakerDAO founder Rune Christensen announced the rebranding of the DeFi platform to Sky, upgrading Dai stablecoin to Sky Dollar (USDS) and Maker governance token to SKY. The introduction of a freeze function with the USDS stablecoin has raised concerns among DeFi fans.

The Necessity of the Rebranding for Compliance

The move to rebrand to Sky was deemed necessary for compliance reasons by experts in the cryptocurrency industry. The addition of the freeze function to the USDS stablecoin is seen as a step towards ensuring regulatory compliance and preventing illegal activities.

Potential Global Reach for USDS with the Freeze Function

The rebranding to Sky, along with the inclusion of the freeze function in the USDS stablecoin, could potentially enable USDS to achieve global reach. The centralization of SKY and USDS will depend on factors such as issuance, control, and the integration within protocols.

Future Plans for PureDai in the MakerDAO Ecosystem

Christensen’s plans to launch a new stablecoin, PureDai, separate from USDS, pegged to the US dollar but fully decentralized. However, the release of PureDai is not expected to happen in the near future, with Christensen indicating availability after a few years.

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