PANews reported on August 28 that according to Cointelegraph, the decentralized finance project Maker has changed its name to Sky, and its recently upgraded stablecoin has been strongly opposed, with observers noting that it will have a so-called "freeze function". Some online observers pointed out that Maker's new stablecoin USDS will allegedly have a function that allows its issuer to freeze tokens, which may call the decentralization of the protocol into question. Monad marketer "Tunez" said in a post on August 28 that this completely violates the purpose of the project.
In an August 27 X post, protocol co-founder Rune Christensen clarified that there will be no freeze feature at launch, only an upgrade feature, adding: “So later governance can decide how to implement something like a freeze feature based on taking all the data into account and finding ways to protect against risk factors as much as possible.” He explained Maker’s upcoming new token in a May forum post, saying that the freeze feature, once activated, is generally expected to “follow the rule of law in the jurisdiction, as Maker needs a high degree of certainty that the legal system will enforce recourse on RWA collateral.” Cinneamhain Ventures partner Adam Cochran commented that this is necessary for the new stablecoin to be backed by U.S. Treasuries, and that freeze features and VPN blocking are “trade-offs that the industry needs to decide on,” and that without rules, the benefits of the U.S. TradFi system cannot be enjoyed.
Christensen said a post claiming that "Sam MacPherson, CEO of Phoenix Labs and Spark Protocol, said the new Dai will have a freeze feature" is misleading. He wrote: "Dai will continue to function as before and will still be usable. Upgrading to USDS is optional, and only USDS has the freeze feature. Dai is an immutable smart contract and cannot be changed."