MakerDAO co-founder says Stablecoin rebrand will have a freeze feature, but DAI will continue as normal

The co-founder of decentralized finance (DeFi) platform Maker (MKR) says the rebrand of his stablecoin may have a freeze characteristic, however DAI will proceed to operate usually.

In a brand new thread on the social media platform X, MakerDAO creator Rune Christensen say that DAI itself won’t have a freeze characteristic – or a mechanism that stops the motion of tokens – after rumors circulated that it could.

In line with Christensen, the addition of a freeze characteristic to the newly named stablecoin won’t be instant and can have to be labored out and accepted by the protocol’s DAO (decentralized autonomous group).

“There shall be no freeze characteristic at launch, there’ll solely be an improve choice. So the board can later resolve how one can implement one thing like a freeze characteristic, based mostly on contemplating all the info and discovering one thing that protects in opposition to as many danger components as potential.”

Christensen continues remark that upgrading from DAI to the Sky Greenback (USDS) shall be non-compulsory.

“DAI continues to operate as earlier than and may nonetheless be used. Upgrading to USDS is non-compulsory and solely USDS has a freeze characteristic. DAI is an immutable sensible contract and can’t be modified.”

Earlier this week, MakerDAO announced it was a rebrand to Sky (SKY) and can permit buyers to commerce their DAI at a 1:1 ratio for USDS, whereas the MKR token will be upgraded to 24,000 SKY.

MKR is buying and selling at $1,815 on the time of writing, down 16% over the previous 24 hours.

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Featured picture: Shutterstock/arleksey/Nikelser Kate