In a move set to shake up the decentralized finance (DeFi) landscape, the MakerDAO community is poised to vote on a groundbreaking proposal that could significantly impact interest rates across the sector. The proposal seeks to raise the Dai Savings Rate (DSR) from its current 1% to an enticing 3.33%,
MakerDAO has developed a contingency strategy to shield its native stablecoin DAI from additional exposure to potentially unstable stablecoins. Amidst the volatility that has plagued the crypto market over the last twenty-four hours. Especially with USDC depegging from its $1 value. And mounting fears over the degree to which it
Lido, the liquidity staking protocol for Proof-of-Stake (PoS) blockchains has published a new proposal for Treasury choices. Lido holds more than $8 billion in staking and the number of Ethereum (ETH) tokens is valued at around $7.9 billion. The number of stakers on the network is approximately 275 K. The
The wormhole bridge exploiters are back in action. While tracking down the so-called wallet address of the hacker, a brief amount of Ethereum was transferred on 23rd Jan of 2022. Two interesting transactions on the list, one is presumably between exploiter and exploiter 2, which sums around 1,889 ETH with
Paxos, a stablecoin issuer, considered paying MakerDAO a recurring charge for keeping up to $1.5 billion in Pax USD (USDP) stablecoin reserves. As per the proposal, to encourage the use of USDP within the Maker ecosystem and increase the USDP PSM Debt Ceiling to 1.5B USDP, Paxos will send MakerDAO
Celsius Network paid off $113,105,000 on its Aave and Compound loans. Celsius freed up more than $450 million in collateral. Since last week’s wave of bitcoin loan repayments, the troubled cryptocurrency lender Celsius Network which has suspended customer withdrawals due to liquidity issues has paid off $113 million on its
117,000 MKR tokens were used to support the plan, while just 4,200 were used to reject it. The U.S. bank will be able to get liquidity in the form of DAI, a stablecoin. A U.S. bank, the Huntingdon Valley Bank (HVB), will be connected to MakerDAO’s decentralized financial system for
Celsius network has repaid almost $143 M debt through the Maker wallet. The liquidation price is reduced to $4,966.86 post the last transaction. The so-called Celsius wallet 25977 has repaid 142.8M DAI as of July 1, as per Defi Explorer data. The wallet currently holds 23,962 WBTC as collateral, and
Hackers could make off with 200,000 DAI and 1101.8 ETH. The hacker used Tornado cash, a currency mixing tool, to transfer the stolen coins. In the latest case of a decentralized finance (DeFi) marketplace being targeted by an attack, Deus Finance has lost almost $3 million in DAI and Ethereum
The top 3 defi by volume are LINK, LUNA, and DAI. Chainlink enables blockchains to securely interact with external data feeds. DAI development is managed by Maker Protocol and the MakerDAO. The top 3 decentralized finance (DeFi) by volume are Chainlink(LINK), Terra (LUNA), and Dai (DAI). 1. Chainlink (LINK) The
