Hello Maker Community,
But, on behalf of the Maker Community–it is our duty to take the bull by the horns and make the tough decisions. After all, we aim to be an independent decentralized autonomous family.
“Je crois en toi” - Inconnu
With regards to Tether’s USDT, do we the Maker Community believe that it should be delisted as an Asset Collateral?
Pros: 1. Delisting USDT might help us reduce our risk, and show the World that the Maker Community does not accept anything less than perfection, honesty, and integrity.
Its simple promise that every unit is “100% backed” by United States dollars has been brought into question many times in recent years. If Regulators worldwide question USDT’s improprieties–accusations of Tether’s Assets would likely get locked up in court battles that could take years to resolve.(I’m no lawyer/solicitor but that is traditionally the path/outcome).
Too many other negative outcomes, you can comment on below
“Invert, always invert: Turn a situation or problem upside down. Look at it backward. What happens if all our plans go wrong? Where don’t we want to go, and how do you get there?” –Charlie Munger
Cons: 1. USDT is one of the most accepted stablecoins in the world. World citizens can consider it a weapon versus totalitarianism. For some USDT might be the best/only option to move money out of their country–without the risk of traditional crypto volatility.
It is the largest stablecoin by market cap–widely use in the entire ecosystem–many traders prefer to settle trades in USDT.
Many exchanges are open to taking USDT. Tether is sometimes compared to and called the Central bank of crypto.
" Affairs are easier of entrance than of exit; and it is but common prudence to see our way out before we venture in ." –Aesop
Please have your Say on the following:
Should Maker DELIST USDT as a Collateral Asset?
- Yes, we the Maker Community should Delist USDT as a Collateral Asset
- No, we the Maker Community should continue to support USDT as a Collateral Asset
If the Maker Community wants to continue supporting USDT as a Collateral Asset, we should keep/or lower the Debt Ceiling to:
- No worries–please keep the DC at 10,000,000
- Please Lower the DC to 5,000,000
- Please Lower the DC to 2,500,000
- Please Lower the DC to 1,000,000
I will leave this Poll open until 16:00 UTC, Thursday October 29, 2020.
“We cannot be sure of having something to live for unless we are willing to die for it.”
― Che Guevara