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MakerDAO

DeFi surpasses $7B in locked funds, but just six projects hold 90% of capital

The total value of capital locked in decentralized finance (DeFi) protocols has increased 271% in less than two months to surpass $7 billion for the first time, according to DeFi Pulse.If the current rate of growth continues, DeFi will be worth more than $27 billion by the end of 2020.Aave currently comprises the largest DeFi project with $1.51 billion locked, followed by MakerDAO with $1.42 billion, Curve Finance with ss$1.15 billion, Yearn.finance with...

Maker Debt Crisis Post-Mortem Recommends New Safeguards

MakerDao (MKR) has published a new report that attempts to put the events of ‘Black Thursday’ into context — and recommends safeguards to ensure it can never happen again.On March 12-13 a roughly 50% crash in the price of Ethereum (ETH) led to the under-collateralization of the debt positions underpinning Maker’s Dai (DAI) stablecoin.The document, which was authored by ‘MakerMan’, said the crash drove liquidations that “effectively swamped” the system’s liquidators.With the ETH...

MakerDAO Governance Approves USDC Stablecoin as Collateral

The MakerDAO governance has approved the USD Coin (USDC) stablecoin as the third collateral type accepted in the Maker Protocol, according to a community post on March 17.The decision was put to an extraordinary executive vote outside of the usual weekly schedule, with the aim of urgently increasing Dai (DAI) liquidity following last week’s market instability.USDC joins Ether and Basic Attention Token USDC now joins Ether (ETH) and Basic Attention Token (BAT) as...

EY, Microsoft and ConsenSys Launch Enterprise Platform on Ethereum Mainnet

Global taxation and transaction advisory firm EY have announced the launch of their open-source Baseline protocol. Baseline comprises a smart contract and tokenization platform built for enterprises on top of the Ethereum blockchain. Baseline was founded by EY in partnership with Microsoft and ConsenSys, and was developed in collaboration with many companies operating in the cryptocurrency sector, including Chainlink, MakerDAO, Unibright and AMD.The platform’s code has been made available to select entities by...

Mind the Gap: Why ETH Price and DeFi Adoption Aren’t in Sync

In his 1991 book, "Crossing the Chasm," management consultant Geoffrey Moore defined a crucial gap between the early adopters of a new technology and the larger populations of users that come later. Decentralized finance (DeFi) may now be approaching a gap of its own. This article focuses on DeFi services that allow deposits of ether (ETH), ethereum’s native asset, as collateral for loans issued in a dollar-pegged stablecoin, DAI. Lending is decentralized to the...

Most of MakerDAO’s Asset Value Is in Only a Few Addresses

The decentralized finance (DeFi) market saw a massive upswing in 2019 and its growth is expected to continue in 2020. Yet, only a handful of accounts are responsible for much of the industry’s value. DeFi is the movement to transform old financial products into trustless and transparent protocols that run on decentralized applications built using smart contract platforms like ethereum.The most popular DeFi protocol right now is MakerDAO's multi-collateral Dai system, where users create...

Traders Turn to DeFi to Capitalize on Tuesday’s Crypto Market Spike

Decentralized finance (DeFi) applications are popping off Tuesday, and the ETH price spike isn't the whole story.As of this writing, ETH is up around $20 since Monday. "Cryptocurrencies are still pretty correlated so with some of the developments around Craig Wright and BSV, that ended up moving the entire market," Paul Veradittakit, of Pantera Capital, told CoinDesk in an email. Bitcoin SV is the fourth-biggest cryptocurrency by market capitalization, according to CoinMarketCap. It shot...

WisdomTree Mulls New Stablecoin as US Money Manager Drives Toward Crypto

WisdomTree, an asset manager specializing in exchange-traded funds, is vying to become one of the first established U.S. financial firms to offer clients digital assets, including a so-called stablecoin whose value is closely linked to the U.S. dollar. New York-based WisdomTree, which oversees about $63 billion, views cryptocurrencies and digital assets as a natural extension of its business in exchange-traded funds, or ETFs, according to corporate-strategy director William Peck. ETFs trade like stocks on...

MakerDAO Pitches DeFi to the Masses at CES 2020

LAS VEGAS – There's a "digital money" section on the show floor of the Consumer Electronics Show (CES) in Las Vegas, but MakerDAO is the only digital money with a booth there.There are a couple of other crypto wallets, security firms and a bitcoin ATM company, but ethereum's favorite stablecoin is the only cryptocurrency directly represented. MakerDAO Foundation Head of Business Development Gregory DiPrisco had a straightforward answer for why the organization chose to...

Dragonfly Capital, Paradigm Buy $27.5M Stake in Governing MakerDAO’s Future

Venture funds Dragonfly Capital and Paradigm have acquired $27.5 million worth of MKR tokens and plan to take part in the Maker Protocol's governance system.Announced Thursday by the Maker Foundation, the $27.5 million raised will fund the foundation's efforts to promote dai adoption in China and the broader Asia region. It's expected Dragonfly and Paradigm, who already have a strong presence in the region, will advise on the expansion."Dai continues to be the...
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