People would very loudly insist that DAI cannot possibly fail and that it's not ... | Hacker News

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cuteboy19 on May 28, 2022 | parent | context | favorite | on: Dark Moon: The Inevitable Collapse of Luna

People would very loudly insist that DAI cannot possibly fail and that it's not like all those other stablecoins that failed and this time it will be totally different.

Then the peg would break

scotty79 on May 28, 2022 [–]

I was hoping for more detailed, more technical scenario that takes into account the specifics of the protocol.

AlexandrB on May 28, 2022 | [–]

There's a good comment in a previous crypto thread on this: https://news.ycombinator.com/item?id=31414217

Basically DAI might break peg if the backing assets became illiquid (no buyers).

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