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MakerDAO has launched PureDai, a new stablecoin designed to be fully decentralized. PureDai’s key features include a floating target price, decentralized high-quality collateral, highly decentralized oracles, minimal governance, permanent positioning on the Ethereum mainnet, and simple token economics. PureDai is not guaranteed to be pegged to the U.S. dollar, but instead uses a free-floating peg that may introduce negative target interest rates in response to high demand. PureDai will also have its own governance token, with an initial supply of 2 billion, distributed through NewStable mining, used to subsidize the generation of PureDai and act as a backstop in the event of bad debt