Uranium-Backed Stablecoin? Maker Proposal Goes Nuclear

Oct 09, 2023

The latest proposal to back Maker's DAI stablecoin with tokenized uranium might not be as crazy as it sounds.

The so-called Endgame Plan is evolving quickly–and weirdly–over at Maker.

Now, after adding vanilla t-bills and accounts payable to the blockchain, a new proposal is looking to add tokenized uranium.

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“Our goal is to democratize ownership of uranium by providing stability value, and easier access to exposure to a commodity that is growing in importance,” reads the proposal penned by Uranium3o8.

The element is growing in popularity of late as various nations either restart their nuclear ambitions in the name of energy or lay out fresh plans to reboot their power grids.

The details are scant, but one would suspect that these tokenized fuel rods would be onboarded to the Maker protocol.

Once added, all that DAI floating around the ether could get a nuclear-backed boost from the tokenized uranium.

When reached for comment on how serious this proposal was, a spokesperson for Uranium3o8 told Decrypt that it is indeed legitimately interested in becoming a DAI backer.

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Source - https://decrypt.co/200422/uranium-backed-stablecoin-maker-proposal-goes-nuclear