MakerDAO

MakerDAO (CRYPTO: DAI) transferred $250 million, half of the $500 million it holds, from its Coinbase (NASDAQ: COIN) custody account to DAI’s peg stability module (PSM). The goal is to protect the peg for its DAI stablecoin, as reported by Blockworks. PSM is a collateral pool that lets users...

Chronicle, the second-largest oracle provider, is set to extend its reach beyond the MakerDAO ecosystem, launching a new protocol to make oracles available on various networks. The Chronicle Protocol will initially roll out on Polygon zkEVM, which represents a thrilling innovation in the realm of...

Vitalik Buterin, co-founder of Ethereum (CRYPTO: ETH), has offloaded his entire MakerDAO (CRYPTO: MKR) token holdings. What Happened: The move closely follows news from MakerDAO's top brass about a potential pivot towards the Solana (CRYPTO: SOL) blockchain. Ethereum's...

MakerDAO announced on Wednesday a significant addition of $700 million in U.S. Treasury bonds to its holdings, which took its total bond holdings to $1.2 billion, a move aimed at backing DAI with real-world assets. MakerDAO is a Defi lending protocol and the company behind the...

An automated trading bot recently performed a complex series of transactions on the Ethereum (CRYPTO: ETH) blockchain. According to The Block, the transactions involved a flash loan of $200 million and yielded a minuscule net profit of $3.24. Flash loans are essentially loans without...

DeFi ecosystem Arbitrum, a Layer 2 scaling solution for Ethereum (CRYPTO: ETH), has now become the fourth-largest decentralized finance, with over $2 billion of total value locked (TVL). While decentralized perpetual exchange GMX (CRYPTO: GMX) leads the ecosystem, a rising star has been capturing...

The recent drop in Ethereum (CRYPTO: ETH) price will have a cascading effect on decentralized finance (DeFi) platforms, as investors are ready to liquidate their ETH holdings In the wake of the FTX (CRYPTO: FTT) fallout. What Happened: According to TVL aggregator DeFiLama, over 115,500 ETH are...

The decentralized autonomous organization (DAO) MakerDAO, which is behind the stablecoin Dai (CRYPTO: DAI), has set aside $500 million to invest in corporate and U.S. Treasury bonds. The money will come from its overcollateralized stablecoin, with 80% going to investment-grade corporate bonds and...

MakerDAO co-founder Rune Christensen has reached out to the community in light of recent conversations of decoupling its native token from USD Coin (CRYPTO: USDC) amid the sanctioning of Tornado Cash to explain why free-floating Dai (CRYPTO: DAI) may be the only option for the decentralized...

Maker (MKR), the governance token of the MakerDAO and the Maker Protocol, has shot up 64.76% to emerge as the third best-performing cryptocurrency on weekly basis on CoinMarketCap’s list. What Happened: MKR traded 32.03% higher at $3,660.78 at press time. The cryptocurrency trailed XRP (XRP)...