Something is rotten in the State of DAI.
It seems now we are having a USD pegged token (a "stable coin") that cost USD 1.05 and seems hell bent on costing USD 1.10 Monday morning. Hell of stability indeed.
I quickly checked if I could sell off all my DAI tokens. But as luck would have it, nobody wanted to buy it at the prices quoted by the "exchanges".
So, who is benefiting from this scheme and why the "exchanges" quote prices that seem to come out of thin air?
Puzzled is the state of my mind as I will now sign off and have a shot of Remy Martin with a good old friend.
I hope they can fix it up by Monday.