Maker will be able to remotely freeze its new USDS stablecoin

Maker is introducing USDS, a new stablecoin whose holders can have their coins remotely frozen by Maker insiders, and is incentivizing users to convert DAI into it. During a phase-out period now underway, Maker will enforce a 1:1 convertibility peg between DAI and USDS, with rewards offered at Sky.money. The article says the remote freeze is expected to follow rule of law from jurisdictions where Maker needs legal certainty over real-world asset collateral, and Maker insiders said activating it on-chain could take months or even years. Founder Rune Christensen is also introducing the SKY governance token, which the article describes as superior to the prior token, MKR.