Data scientist who writes about fraud and the dark corners of crypto
As Crypto Critics' Corner [https://cryptocriticscorner.com] has continued to grow and as I have experimented with this newsletter for the last several months, I no longer feel that a monthly paid report is the best way for me to follow, document, and describe the things I am most
What is MakerDAO? MakerDAO is the protocol that distributes the Dai stablecoin. It is a ‘debt’ based stablecoin, where users are essentially extended a loan denominated in Dai that is collateralized with another asset.I have written about it previously if you want a more technical discussion of how it
What is Rai? Reflexer Labs (the folks who are behind Rai) describe Rai as a “decentralized and non-pegged stablecoin that defies fiat currencies”. This seems counter-intuitive for most definitions of stablecoins, as they are nearly always pegged to a fiat currency. This is true for “money market” style coins like
One of the most common claims you will hear on Twitter about Olympus DAO or any of its innumerable forks is that it is a Ponzi. As someone with strong opinions on Ponzis [https://cryptocriticscorner.com/2021/12/17/episode-38-the-world-is-a-ponzi-scheme-you-just-live-in-it/] , I wanted to take a deep look to try to
TerraUSD (called Terra for the remainder of this post) is a stablecoin pegged to the US Dollar. Since the only thing that matters for a stablecoin is how well it can maintain its peg regardless of the conditions, I will attempt to assess whether or not the design of Terra
People want there to be a hero who can light a path out of the darkness, and Craig Steven Wright has repeatedly claimed to be that hero and the only one who can carry that light. However, when his claims are met with even a modicum of skepticism or probing,