daistats VS dmap

For more accurate stats check out: - https://daistats.com/ - https://makerburn.com/ - https://maker.defiexplore.com/

On daistats.com you can see that DAI is currently collaterized with USDC for 28.6%. Combine this with the fact that DAI has an overcollaterization ratio of 137.58%. This means that DAI could survive a complete USDC crash much better than you'd think, possibly not even depegging from $1.00 at all.

Looking at https://daistats.com/.. have never seen unhealtier numbers..

USDC & USDP (both centralized) account for 70% of DAI collateral. https://daistats.com/

It's not the thing propping up crypto prices. DAI is relatively small ($6.5B mcap), DAI is also partly backed by USDC [1], which is backed by cash and US government bonds (held at Circle) so it would be extremely difficult for DAI to lose collateral backing faster than keepers could liquidate positions. Does DAI have an influence on the $1T crypto industry? Of course, but its liquidity pales in comparison to USDC, USDT, and BUSD (~$100B between them). If the market is crashing, it's doubtful DAI is the culprit (as it's actually a solid, battle-tested protocol that already lived through the Covid crash and '18 and '19 severe drawdown and many other trying market scenarios).

But what you say is true of all debt markets. Debt has an inflating effect on the price, and when those debts get wiped off from liquidations, it can have a cascading affect in the opposite direction from that on the way up. That is precisely what happened to the real estate market in '08. People didn't think the real estate market could go down in terms of price. And yet, it did, and we had a major financial crisis as a result as real estate prices drew down 50% or more in some areas and foreclosure supply flooded the market.

[1] https://daistats.com/#/

It's not an algo stable, otherwise your post is solid. It is overcollateralized by mainly USDC and ETH (see https://daistats.com/) and only when that collateral fails to make the protocol whole would it even begin to consider using MKR as a backstop. The centralized aspect of course coming from the fact that it is heavily collateralized by USDC. This was done to keep DAI firmly on peg, for now. There are plans in motion to reduce reliance on USDC.

ENS is a shitcoin, dmap proves it https://github.com/dapphub/dmap/blob/master/core/dmap.sol

I would like to make a general UI to interface with all dapps directly, remove DNS from the picture completely to avoid what happened with convex and others today and remove centralisation from mutable front ends. We've made two parts already with https://dmap.sh/ (https://github.com/dapphub/dmap) and dpack