Rune Christensen, the visionary mind behind MakerDAO, has announced plans for PureDai, an upcoming token poised to revolutionize the stablecoin landscape by offering a fully decentralized alternative to its U.S. dollar-pegged counterpart, Dai.

PureDai, as envisioned by Christensen, will operate exclusively on the Ethereum mainnet, leveraging both ether and Lido staked ether (stETH) as collateral, all while embracing the power of decentralized oracles. Unlike Dai, PureDai will not be tethered to the U.S. dollar, adopting instead a free-floating peg, thereby embodying a paradigm shift towards complete decentralization in stablecoin design.

Christensen expressed that PureDai is crafted for users who harbor a preference for absolute decentralization, harkening back to the ideological origins of Dai. With an anticipated launch slated for the coming years, Dai holders will have the opportunity to seamlessly transition to PureDai once it becomes available.

In his remarks on X platform, Christensen elucidated, "Dai users in the future will have the option of upgrading their Dai to PureDai, which is a return to the ideological roots of Dai."

PureDai's introduction will complement MakerDAO's stablecoin lineup, with NewStable poised to offer a more straightforward evolution of Dai, prioritizing regulatory compliance while retaining Dai's fundamental attributes.

"To complement NewStable, a second, purely decentralized stablecoin, called PureDai, will also be made available as an option for users who prefer the vision of pure decentralization," Christensen emphasized.

The journey towards PureDai traces back to MakerDAO's inception in 2017 when Dai emerged as a stablecoin underpinned by decentralized collateral, primarily ether and various cryptocurrencies. However, MakerDAO later broadened its scope by incorporating real-world assets such as U.S. Treasuries, ushering in a period where Dai's stability was partly reliant on more centralized collateral options.

Christensen's exploration of PureDai reflects a renewed commitment to decentralization, albeit with a projected launch timeline spanning a few years. Once operational, PureDai will eschew manual upgrades and maintain no permanent ties to MakerDAO, embodying a truly autonomous stablecoin ecosystem.

The announcement of PureDai comes amidst a notable surge in Dai's supply since March, coinciding with heightened demand for stablecoins like USDT and USDC. Dai's supply surged from 4.4 billion to over 5.4 billion within a span of just over two months, underscoring its position as the third-largest stablecoin by market capitalization.

Designed to uphold a value of $1.00, Dai offers users the ability to generate tokens as loans by pledging collateral to MakerDAO, ensuring each issued Dai is adequately backed by assets exceeding its face value. As PureDai looms on the horizon, it promises to redefine the landscape of decentralized stablecoins, ushering in a new era of financial sovereignty and innovation.