DAI stablecoin


MakerDAO, the decentralized autonomous organization behind the issuance of the DAI stablecoin, has announced emergency governance measures to limit volatility amidst growing concerns over the stability of stablecoins. The proposal comes after Circle, the issuer of USDC, disclosed that $3.3 billion of its $40 billion reserves remained stuck due to the shuttering of Silicon Valley Bank, leading users to switch to competing assets. The emergency proposal aims to decrease the total supply of DAI available…