Money 2.0 Stuff: My DAO can beat up your DAO

By most accounts credit facility/synthetic asset issuance platform, MakerDAO, has been quite successful. The system has survived a sustained collapse in collateral value, undergone a major migration, and currently counts over $110m in outstanding debt. Dai trades closely to the dollar. 

Not everyone is happy! Several years ago someone predicted that it was highly unlikely that Andreesen Horowitz and Polychain would end up owning 10% of the “new internet” and I guess they were sort of right? MakerDAO isn’t exactly a “new internet”. But it is systemically significant to the Ethereum ecosystem, and the concentrated ownership of system governance token, MKR, among a16z, Polychain, Paradigm, and Dragonfly has some people concerned: everything everywhere is oracle manipulation, so they say.