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The embattled Harbour Trade credit pool minted $1.5 million of DAI stablecoin secured with loans to a consumer electronics firm, which defaulted on $2.1 million of debt. Original Source
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The platform is undergoing a restructuring that includes breaking up its structure into smaller, autonomous units called SubDAOs and investing in yield-generating, real-world assets to boost protocol revenue at a time when demand for crypto lending is modest. Source
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The move could redefine baseline interest rates in the DeFi space, spurring higher stablecoin lending rates and making leverage more expensive, one analyst noted. Original Source
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Gemini – the crypto exchange founded and run by Tyler and Cameron Winklevoss and the issuer of GUSD – pays a 2% annual reward to MakerDAO for using the token as a reserve asset. The proposal, however, argued that the platform could enjoy better revenue opportunities, for example by investing
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The protocol’s community voted for onboarding a new real-world asset vault that would invest up to the additional amount in U.S. Treasury bonds. Original Source
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“While Paxos has raised the possibility of a marketing fee scheme, to date there has not been concrete progress towards implementing this,” per the proposal. “If marketing payments are eventually implemented, Maker would be able to increase USDP debt ceilings in response.” Original Source
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The community of Ethereum-based decentralized finance (DeFi) protocol MakerDAO will soon vote on a proposal seeking to increase the Dai stablecoin (DAI) savings rate (DSR) to 3.33%. If it all goes through, the move is tipped to have broader implications for rates across DeFi.In a May 26 tweet, the Maker
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied MakerDAO, a decentralized crypto lending and borrowing protocol, is making changes on its roadmap, including banning virtual private networks (VPN) and users from the United States. MakerDAO plans major changes for Endgame The update, known as “Endgame,” aims to
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The new governance token will have a larger supply than MKR, with a 1200:1 exchange rate to MKR. It will also give access to Maker’s AI-assisted governance tools, allowing token holders to “easily summarize and verify governance rules and processes, or generate new aligned governance proposals,” the proposal said. Source
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MakerDAO, the organization behind the DAI stablecoin and its related MKR governance token, recently announced a slew of planned updates to its ecosystem, including a heavy focus on artificial intelligence (AI) technologies and the planned development of a new blockchain. Beginning with an upgrade to unify the organization’s brand, the new
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