a by-product of excess collateralization in the system (currently ~370%)
Crypto Theses for 2019
Arjun Balaji

Interesting point that I think may be underemphasized. The over collateralization of currencies in the age of commodity back currency has led to restricted growth in those countries economies (i.e Gold standard in the US, Spains Price Revolution). Interested to see more under collateralized/1:1 collateralization ( & Algorithmic I suppose) Stablecoins enter the market and the type of adoption and use they will create. Maybe Multi-collateralization helps Dai in this manner?