MakerDAO founder Rune Christensen believes that DAI suffers from imperfect branding.

In a Thursday name with community members reported by CoinDesk, Christensen suggested rebranding Maker’s stablecoin DAI to better appeal to the masses.

“What’s the staunch name for a stablecoin will own to you’re going to are trying to appeal to commonplace other folks? It has to own USD in it,” he talked about. Nonetheless, he apparently support tracked on this soon after, noting that the usage of USD in the name implied a peg to the U.S. dollar, which is rarely any longer necessarily assured.

Christensen opined that the necessity for a branding overhaul for DAI used to be “the entirely methodology to protect shut administration of the sage.” In his leer, DAI’s imperfect branding would possibly presumably well very smartly be limiting its deliver.

Maker would possibly presumably well simply calm location DAI as a currency that users can generate yield with, and the stablecoin must be viewed because the most safe and expert gamified crypto amongst all the things in the marketplace, he talked about.

To that end, the MakerDAO founder proposed “a entire rebrand, full new name, full new sight, utterly assorted methodology to user acquisition.”

DAI is the fourth-supreme stablecoin with a market cap of $5 billion. Unlike most of its U.S. dollar-pegged friends, the ERC-20 token is an algorithmic stablecoin collateralized by a mixture of quite numerous cryptocurrencies which would perchance be deposited into orderly contract vaults when DAI is minted.

Maker additionally plans to introduce extra evolved aspects for DAI users through a lending platform known as Spark Protocol. One amongst those aspects entails mounted-payment credit which Messari describes as one in every of DeFi’s unsolved mysteries.

“It’s a engaging flip from Maker’s worn benign approach of integrating DAI into existing DeFi protocols. Now Maker wishes to invent its own DeFi ecosystem,” talked about DeFi researcher Ignas.