Maker, the decentralized financial platform (deFi), was founded by co-founder Maker (MKR() claims that its rebranding of stablecoins will include a freezing function, but this is not true. DAI All systems will continue operating normally.
MakerDAO founder Rune Christensen posted a message on the social networking platform X. says that DAI itself will not feature a freeze function – or a mechanism that stops the movement of tokens – after rumors swirled that it would.
Christensen said that the inclusion of the freeze feature in the new stablecoin would not happen immediately. It will take some time to work out the details and get approval from the DAO.
“There will be no freeze function at launch, there will just be an upgradeability. So later governance can decide how to implement something like a freeze function based on considering all data and find something that protects against as many risk factors as possible.”
Christensen continues to work note The upgrade from Sky Dollar to DAI will be an optional one.
“DAI will continue to function just as before, and can still be used. Upgrading to USDS is optional, and it is only USDS that will have a freeze function. DAI is an immutable smart contract and cannot be altered.”
MakerDAO announced It was rebranding as the Sky (SKY), and investors will be able to exchange their DAI tokens at 1:1 for USDS, while upgrading the MKR to 24,000 Sky.
MKR currently trades for $1.815, which is a decrease of 16% in the past 24 hours.
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