With the price of ETH surging today, I thought it might be helpful to list the potentially significant risks to Ethereum v1 continuing to run smoothly.
TL;DR DAI above $1 peg for 5 months; bots spamming transactions; Geth (we love Geth ❤️) is 79% of Ethereum nodes
Thread 👇 1/5
1. DAI has been above its $1 peg for 5 months.
Mitigation: ??
You can help: if you deposit ETH into a Maker Vault, borrow DAI, sell that DAI for ETH, and hold the ETH (ie. a leverage long), then you are helping to stabilize the DAI peg. 2/5
2. Bot arbitrage strategies might involve spamming transactions, with an impact on Ethereum's network layer and gas prices. 3/5
3. Centralization risk with Geth software and team. They are doing a phenomenal job! Have you thanked a Geth developer today?
Geth is currently used for 79% of Ethereum nodes. ethernodes.org
Mitigation: ?? 4/5
What other risks to Ethereum v1 might be missing from this list? 5/5
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