DAI is still an extremely important in decentralized finance. It is simply easier to scale a centralized stable coin than a collateralized one as the collateralized one is less capital efficient. The centralized coin has different risk parameters though, such as a bank run scenario or the fact that USDC funds can be frozen at will by Circle.
I didn't write that anything was wrong with any of the three assets mentioned
I wrote how they compete on collateral choices which lets people predict their growth/issuance trajectory. MIM grows faster than DAI for a variety of reasons that DAI didn’t have when it launched, which is not likely that DAI can replicate now or at least not quickly.
Comments
DAI is still an extremely important in decentralized finance. It is simply easier to scale a centralized stable coin than a collateralized one as the collateralized one is less capital efficient. The centralized coin has different risk parameters though, such as a bank run scenario or the fact that USDC funds can be frozen at will by Circle.
I didn't write that anything was wrong with any of the three assets mentioned
I wrote how they compete on collateral choices which lets people predict their growth/issuance trajectory. MIM grows faster than DAI for a variety of reasons that DAI didn’t have when it launched, which is not likely that DAI can replicate now or at least not quickly.