MakerDAO Adds Chainlink, Compound, Loopring as Collateral Options

Loopring was trading by over 42% on Wednesday, overtaking QNT as the world’s 65th largest crypto in the process. This came as ethereum classic was trading 10.30% higher on the day, taking its one week gain to over 80%. Loopring (LRC) On Wednesday, loopring (LRC) rose to its highest level in three months, a move which saw it cement itself as the world’s 65th largest cryptocurrency. Following a low of $0.8075 on Tuesday, LRC/USD rallied to an intraday high above $1.21 during hump-day. Today’s move came as LRC has consolidated for the....

Harmony's Ecosystem Fund financed Hashstack's solution to improving DeFi lending. The DeFi lending and borrowing market has grown significantly in volume as new lending protocols continue to attract capital and NFT-backed loans become more popular. According to Dune Analytics, the top three platforms in terms of market capitalization are Aave (AAVE), Maker (MKR) and Compound (COMP). These platforms, however, still are facing issues when it comes to collateral requirements and volatile digital assets.Hashstack Finance is a DeFi platform whose crypto-native lending protocol, called Open, is....

The new liquidation engine has been designed to offer Maker’s users greater predictability and security. Decentralized lending and stablecoin protocol MakerDAO has opened governance voting to allow new tokens as collateral.A number of new collateral types have been proposed for MakerDAO, potentially increasing the number of digital assets that can now be used to mint its stablecoin, DAI. Voting began on April 19 and will run for fourteen days.Seven tokens have been suggested as collateral for the Maker, including Moss Carbon Credit (MCO2), Rocket Pool’s staked Ethereum (rETH), the 1inch....

Compound users can no longer use YFI, ZRX, BAT and MKR tokens as collateral for loans. Decentralized lending protocol Compound has paused the supply of four tokens as lending collateral on its platform, aiming to protect users against potential attacks involving price manipulation, similar to the recent $117 million exploit of Mango Markets, according to a proposal on Compound’s governance forum that was recently passed.With the pause, users will not be able to deposit Yearn.finance’s YFI (YFI), 0x’s ZRX, Basic Attention Token (BAT) and Maker’s MKR (MKR) as collateral to take loans.The....

Cross-chain collateral will soon be available with Compound Finance. Decentralized finance lending protocol Compound has unveiled a new blockchain that will enable cross-chain collateral.It is the latest move to mitigate expensive operations on the Ethereum network and enable more interoperability in the DeFi ecosystem.The new Gateway chain, announced on Mar. 2, has been described as a cross-chain interest rate market that allows users to borrow assets that are native to one chain, such as Ethereum, with collateral from another chain, such as Polkadot or Celo. Compound Finance originally....