[Question] use FRAX instead of DAI?

General Gnosis Chain
1

xDai tokens are used to pay for gas and transactions on the Gnosis chain. They are a stable token (worth ~ 1 USD) created from locked Dai

When users want to exchange xDai for Dai, the process is executed in reverse. xDai is burned (destroyed) in the xDai chain smart contract, and a verified signal is sent to unlock the exact same amount of Dai on the Ethereum mainnet. The unlocked Dai is then returned to the user’s address on the Ethereum mainnet.

Question : My question may be stupid but I would like to ask several questions:

  • why did you choose DAI?
  • can it be changed?
  • if so, I would like us to study the FRAX option. I know he will offer strong incentives if possible and wanted by the Gnosis community
2

Dai was the only real crypto stablecoin when xDAI chain launched, so clearly best choice for the two token model. And Dai is backed completely by assets, this makes it still preferable over others. If (partly) algorithmic stables proof to work long time they for sure will find their place, but imho the only reason to change xDAI to something else would be either a failure of Dai/Maker protocol or insufficient supply. In the meantime it’s no problem for other stables to find their place on GC by establishing appropriate pools on the several dexes.

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