MakerDAO slashes stability fees as stablecoin demand wanes
Maker hopes to reignite demand for its DAI stablecoin through the fee reduction. Decentralized finance lending and stablecoin protocol MakerDAO has adjusted stability fees across a wide range of crypto assets used as collateral on the platform.The move comes as the demand for DAI and other stablecoins has cooled amid the recent crypto market retracement, with Maker hoping to drive up demand for DAI minting through the reduction in fees.⚠️Maker Protocol Changes ⚠️ (1/5) ETH-A Stability Fee: 5.5% → 3.5% ETH-B Stability Fee: 10% → 9% ETH-C Stability Fee: 3% → 1% WBTC-A Stability Fee: 4.5% →....
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Following the demise of the Terra-based stablecoin UST, the fiat-pegged token DAI has become the largest decentralized stablecoin in existence today. Moreover, Makerdao has regained the decentralized finance (defi) protocol’s position as the top defi protocol in terms of total value locked (TVL). Makerdao’s DAI Regains the Top Decentralized Stablecoin Position This month, it’s quite clear that the Terra LUNA and UST fallout has rippled across defi and the crypto ecosystem in general. Furthermore, the Terra implosion has allowed the stablecoin DAI to regain its position....
As the bear market trend is getting more intense, many protocols and other crypto-related firms are making moves for survival. On its part, MakerDAO plans on a minimal risk investment strategy to raise revenue. The DAO is taking steps into traditional investments using the native DAI stablecoin. Currently, MakerDAO is undergoing a proposal voting for […]
The MakerDAO community will earn a 1.5% reward on its USDC while holding funds with Coinbase Prime. Coinbase Prime, an institutional prime brokerage platform for crypto assets, announced on Oct. 24 that it has entered into a partnership with MakerDAO to become a custodian of $1.6 billion worth of the stablecoin USD Coin (USDC), of which MakerDAO is the largest single holder.The MakerDAO community voted to approve the custodianship, which will allow its community to earn a 1.5% reward on its USDC while holding funds with a leading institutional custodian.The program described the following....
Are you looking for a smart way to enjoy price stability in blockchain? Then meet DAI at 1xBit – an Ethereum-based stablecoin with its value of 1 USD, the key in the MakerDAO lending system. DAI is the 31st cryptocurrency added to the constantly growing list of supported cryptocurrencies at 1xBit.com. What makes DAI so […]
Are you looking for a smart way to enjoy price stability in blockchain? Then meet DAI at 1xBit – an Ethereum-based stablecoin with its value of 1 USD, the key in the MakerDAO lending system. DAI is the 31st cryptocurrency added to the constantly growing list of supported cryptocurrencies at 1xBit.com. What makes DAI so […]