Kiffmeister’s Fintech Daily Digest 04/04/2020

~ kiffmeister
  • MakerDAO founder Rune Christensen unveiled proposals that will effectively cause what he believes has become a “completely pointless” Maker Foundation to dissolve over the next few years.
  • MakerDAO founder Rune Christensen planned to make the MakerDAO Foundation obsolete by end-2021. It may take a bit longer but recent moves suggest the organization really is serious about shutting down. First, it turned control of the supply of undistributed governance tokens, MKR, over to MKR holders at large. Then Christensen detailed a three-plank plan that would get community governance to the point where MakerDAO users wouldn’t even notice when the foundation shuts its doors.
  • This paper tests the safe haven properties of the largest stablecoins against non-stable crypto-assets. The dataset comprises high-frequency 1-minute data calculated as volume-weighted averages across 18 exchanges where these crypto-assets are traded, thus capturing the entire price movement around the world. It finds that only TUSD, PAX, and GUSD can serve as safe havens.
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Published by kiffmeister

The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.