MakerDAO Confirms DAI Won’t Have Freeze Function in Stablecoin Rebrand
Rune Christensen, co-founder of the decentralized finance platform Maker (MKR), has clarified that while the upcoming stablecoin rebrand will introduce a freeze function, it will not be applied to the existing DAI stablecoin.
In a recent update on social media, Christensen addressed speculation about DAI incorporating a freeze mechanism—a feature that halts token transactions.
He confirmed that DAI will continue to operate as it currently does, without this function. The freeze function will only be part of the newly rebranded stablecoin, Sky Dollar (USDS), and its implementation will require further deliberation and approval from MakerDAO’s decentralized autonomous organization.
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Christensen explained that the freeze function will not be implemented at launch but will be considered in future upgrades. He emphasized that DAI remains an immutable smart contract and will continue to be usable as before. The transition to USDS will be optional, allowing users to retain their DAI if they choose.
This announcement follows MakerDAO’s recent decision to rebrand to Sky (SKY) and offer an exchange of DAI for USDS at a 1:1 ratio, with MKR tokens being convertible to 24,000 SKY.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
