Excellent post, thank you Gregory! In this statement, do you mean that “each 66 Dai created is backed by 1.5 ether collateral”, and not 100 Dai?

“If I send 1 ether ($100) into the CDP smart contract, then I am now able to create 66 Dai. This means that, at the current value of ether, each 100 Dai that I’ve created is backed by 1.5 ether collateral.”