Published on: January 27th, 2021 • Duration: 22 minutes
Greg Di Prisco, head of business development at the Maker Foundation, breaks down stable coins and their important role in the crypto ecosystem. He explains MakerDAO and its stable coin Dai, and he compares and contrasts this to other stablecoins, pointing out that Dai is permissionless and decentralized while other stablecoin projects are often centrally controlled. Di Prisco explains that Dai is the most integrated decentralized stable coin in the crypto ecosystem, demonstrating its extensive use in money market protocols and even in gaming. He also touches on DeFi as a whole, describing that it is still a very young development in the crypto sector, but that he hopes that it may one day replace all financial infrastructure. Filmed on January 22, 2021.
Key Learnings: Stable coins are crucial infrastructure for decentralized finance. There are a variety of stable coin types on a spectrum from centralized to decentralized. Stable coins, such as Dai, are already being used in a variety of use cases, showing a strong product/market fit in the crypto ecosystem.