MakerDAO passes new ‘constitution’ to formalize governance process
The document creates multiple offices tasked with fulfilling various jobs for the protocol, each with their own powers and responsibilities.
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Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply
According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global…
MakerDAO passes proposal for $750M increase in US Treasury investments
The emergency proposal increases MakerDAO’s holdings of United States bonds by 150%, aiming to diversify the Dai stablecoin’s collateral exposure.
Debtors saved over $100M using de-pegged stablecoins to repay loans
Debtors jumped on the opportunity to grab a discount on their loan repayments when USDC and DAI de-pegged from the dollar.
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Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident
On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the…
Circle’s USDC instability causes domino effect on DAI, USDD stablecoins
Following USDC’s depegging, three stablecoins — DAI, USDD and FRAX — also depegged from the U.S. dollar.
Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment
The sun sets on algorithmic stablecoins as Frax shifts to a fully-backed model.
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Crypto Market Slides as Total Value Locked in Defi Falls Below $50 Billion Mark
The value of the crypto market has started to slide again after a bullish run-up over the last seven weeks. The total value locked (TVL) in decentralized finance (defi) has…
Jump Crypto & Oasis.app counter exploits Wormhole hacker for $225M
The counter exploit came after the High Court of England and Wales ordered Oasis.app to work with Jump Crypto to retrieve the stolen funds.
MakerDAO voting on $100M loan participation with Florida commercial bank
Florida’s Cogent Bank is proposing a $100 million participation in loans to MakerDAO’s RWA Master Participation Trust.