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MakerDAO Founder Clears Air on Freeze Function Amid Backlash
Popular Decentralized Finance (DeFi) protocol MakerDAO recently experienced a major shift in its ecosystem. However, the new development has attracted some backlash from its community members. The collateralized debt protocol rebranded to Sky on Tuesday and announced plans to deploy its stablecoin dubbed USDS and a governance token SKY on September 18.
Community Members Question USDS Freeze Function
With Sky, the protocol plans to offer a simpler user experience and involves launching a new website and app. The debut of these new tokens will not impact Dai (DAI) stablecoin and the MKR token, as they will remain in existence. This will allow users to upgrade to the new tokens voluntarily. A unit of MKR is equivalent to 24,000 SKY tokens, while DAI will convert to USDS on a one-to-one basis.
Based on its description, the USDS stablecoin will have a function that allows its issuer to freeze the token. As
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