Richard Heart pokes MakerDAO to 'do the funniest thing' and rug-pull
Hex founder and Europol fugitive Richard Heart has accused the Maker Decentralized Autonomous Organization (DAO) of failing basic tests of decentralization and autonomy. In a note concluding a long rant against a bridged version of MakerDAO’s flagship stablecoin, DAI, Heart chuckled that MakerDAO administrators have powers to override community votes or borrow barely-collateralized tokens. He prodded admins to finally exercise their authority to rug-pull the project and “do the funniest thing.” On the Ethereum blockchain, MakerDAO’s stablecoin DAI has traded near its intended $1 peg for many years. However, a copy of the MakerDAO and its DAI stablecoin on the Richard Heart-founded blockchain Pulsechain, pDAI, has crashed to near $0. Pulsechain-based DAI crashes to near $0 For context, Pulsechain is a modified version of Ethereum that copied over all of its tokens and projects as of a snapshot date. Ethereum-based projects like Uniswap and Compound each have an unau...