MakerDAO Risk Core Unit makes urgent parameter change request in light of rec...
The proposed change would prevent certain coins that have fallen in value recently from being used as collateral. The MakerDAO Risk Core Unit, a key group within the MakerDAO governance system, submitted an urgent request today to change collateral parameters for the DAOs stablecoin, DAI.Primoz, a member of the Risk Core Unit team, posted the request to the MakerDAO Forum.“In light of recent events in the crypto ecosystem and surrounding uncertainty regarding financial stability and asset liquidity of various entities and their possible relations with token governed protocols, we are....
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MakerDAO members turned up in record numbers to preserve the principles of decentralization, setting new precedents for future DAO governance. In a major win for decentralization, members of MakerDAO, the lending protocol behind the Dai (DAI) stablecoin, have rejected a series of proposals that would have seen the protocol’s governance structure become more centralized. On June 27, the members of MakerDAO (MKR) showed up to consider three proposals that would have reorganized the leadership of the decentralized autonomous organization (DAO) into something that more closely resembles a....
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 […]
In an earlier article, I conceded too much and suggested that Bitcoin doesn’t need to be a unit of account. What I should have said is that Bitcoin is a great unit of account—much better than the dollar. The objection that Bitcoin is not a good unit of account actually hides a circular argument that invalidates it. Bitcoin’s utility as a unit of account depends on what you already believe about Bitcoin. If you are skeptical of Bitcoin, then it makes no sense to use Bitcoin as a unit of account. If you believe that Bitcoin will become the world currency, then it makes no sense to use....
While revealing the protocol's inability to comply with regulators, Christensen suggested that "we must choose the path of decentralization." In light of the recent discussions around depegging its native token from USD Coin (USDC) amid sanctioning of Tornado Cash, MakerDAO co-founder Rune Christensen reached out to the community explaining why free-floating DAI may be the only choice for the decentralized autonomous organization (DAO).In his blog post, “The Path of Compliance and the Path of Decentralization: Why Maker has no choice but to prepare to free float Dai,” Christensen disclosed....
MakerDAO is currently the 4th largest DeFi protocol as per TVL rankings with $14.24 billion in locked value. MakerDAO, a decentralized autonomous organization serving the popular DeFi lending protocol Maker, has announced an upcoming deployment schedule on the decentralized zero-knowledge (ZK) Ethereum rollup, StarkNet.Expected to become fully operational in the third quarter of this year as identified in the protocol's roadmap, the integration will seek to enhance the multichain capabilities of their dollar-pegged stablecoin DAI, and associated Maker Vaults function, by striving to reduce....