• Rune Christensen, the founder of Ethereum’s MakerDAO, called for the rebranding of DAI stablecoin.
• He believes DAI suffers from bad branding that could be slowing its growth and proposes a complete new name and look with a different approach to user acquisition.
• MakerDAO should position DAI as a currency users can generate yield with and market it as “the safest and most reliable gamified crypto of all.”

Rune Christensen Calls for Rebranding of DAI Stablecoin

FinanceMakerDAO Founder Rune Christensen said on a call with community members that DAI suffers from bad branding that could be slowing its growth. During the call to discuss the protocol’s decentralization plan, “Endgame,” he proposed a complete rebrand, with a new name and look, plus an alternative approach to user acquisition.

The Need For Rebranding

Christensen argued that in order to appeal to “normal people,” the token needs to include USD in its name but this would imply it will stay pegged to the dollar which there is no guarantee it will do. The discussion focused on how MakerDAO should rebrand itself in order to make it more understandable and approachable.

Positioning Of The Token

In order to boost its use, Christensen suggested positioning DAI as a currency users can generate yield with, claiming it is “the safest and most reliable gamified crypto of all”. He added that this was part of broader debate about MakerDAO’s decentralization plan which he admitted few understand.

Reactions To Proposal

Not everyone on the call was convinced by Christensen’s argument but he encouraged people who disagree with him to come up with their own ideas or better ways forward for MakerDAO’s future development.

Conclusion

It remains unclear if or when any changes will take place but the discussion over rebranding shows how important it is for projects like MakerDAO making sure they communicate efficiently across different channels in order to gain more traction in today’s competitive cryptocurrency landscape.