1/X My unsolicited thoughts on the Uniswap governance and Dai situation:

It really sucks that DeFi has seemingly just adopted USDT. Uni gov wanting to equally reward USDC/USDT/DAI LPs just pushes this further. There wasn't a turning point where people started to trust tether.

2/X But slowly over time tether has become more and more ingrained in DeFi even though it is centralized and generally believed that it is not 1:1 backed by USD. Now it has a massive share of DeFi. I really didn't see this coming and it sucks.

3/X DAI is not perfect and I will be the first to admit that, but decentralization is hard, uncomfortable and inconvenient. It requires a constant fight by everyone building to push back against the easy things like USDT.

4/X Little things like wanting to incentivize DAI liquidity over USDT liquidity are the uncomfortable choices we need to make. I understand the math behind Uni govs decision and how they there, but I reject the thesis that we should want to reward DAI and USDT holders the equally

5/X As someone a lot smarter told me recently "The price of avoiding creeping centralization is constant inconvenience :)" and I really think we need to consider this when dealing with centralized stablecoins.

6/X So I guess this is a request to Uniswap governance and other DeFi protocols to not forget what we are building towards and what tools we need to make that happen. DAI is trying. It isn't perfect and is still learning but it is trying.

7/X Maybe DAI won't succeed, but I am VERY confident USDT isn't the stablecoin we all dreamt of when getting into this space. Sometimes you have to look past the TVL potential.