MakerDAO increases DAI yield in a bid to boost demand
The Enhanced Dai Savings Rate is based on DSR utilization, and could boost the stablecoin yield as much as 8%.
The Enhanced Dai Savings Rate is based on DSR utilization, and could boost the stablecoin yield as much as 8%.
MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
After 16 consecutive months of decline, the stablecoin market dominance has fallen to 10.3% of the total crypto market capitalization.
The DAI savings rate was previously increased to 1% in December 2022, and led to 35 million DAI being deposited in the span of a month, according to MakerDAO.
Given the uncertainty in the macroeconomic environment, Bitcoin price bulls have no reason to bet against a six-week descending wedge pattern.
DAI stablecoin proprietor MakerDAO offered up an AI-heavy roadmap for the future with plans for a new blockchain.
On September 8, the crypto security and smart contract auditing firm Certik revealed that 500,000 DAI was sent through the Tornado Cash mixing platform after the funds were stolen in…