Dai Stablecoin – DIGIT INFO

MakerDAO co-founder proposes fork of Solana codebase for native chain

DIGIT — Sat, 02 Sep 2023 04:45:06 +0000

Rune Christensen stated that Solana’s codebase should be the foundation of MakerDAO’s upcoming blockchain, as he highlighted that it’s optimized for building “highly efficient blockchains.”

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Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident

DIGIT — Sat, 11 Mar 2023 18:30:16 +0000

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 time of writing, Makerdao commands $3.1 billion in USDC collateral that backs a portion of the project’s stablecoin, DAI. Makerdao Proposes Changes to Limit Exposure […]

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100-Year-Old Pennsylvania-Based Bank Approved to Leverage Makerdao’s Stablecoin Vault

DIGIT — Mon, 11 Jul 2022 20:30:15 +0000

Makerdao, the decentralized autonomous organization (DAO) that issues the stablecoin DAI, approved a governance proposal that provides “collateral integration from a U.S.-based bank.” The Makerdao governance proposal passed by a majority vote of more than 87%, and it gives the U.S. financial institution Huntingdon Valley Bank the means to leverage a stablecoin vault. Huntingdon Valley […]

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DAI Takes the Reigns as the Leading Decentralized Stablecoin by Market Capitalization

DIGIT — Sun, 29 May 2022 14:00:42 +0000

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 […]

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Makerdao Plans to Integrate Ethereum L2 Solution Starknet to Lower DAI Transaction Costs

DIGIT — Wed, 20 Apr 2022 13:49:47 +0000

The decentralized finance (defi) project Makerdao has announced its plans to support the zero-knowledge (ZK) rollup solution Starknet in order to make DAI transactions faster and network costs cheaper. Starknet will be integrated into the defi protocol on April 28, 2022, as part of Makerdao’s multichain strategy expansion. Makerdao’s Multichain Strategy Expansion Grows With Starknet […]

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Makerdao Dev Insists Defi Protocol Should Leverage Real World Assets to Scale

DIGIT — Sun, 20 Mar 2022 19:30:29 +0000

On March 16, the protocol engineer at Makerdao and co-founder of the software and design firm Bellwood Studios, Hexonaut, announced a proposal to use real world assets (RWAs) in order to scale the decentralized finance (defi) protocol Makerdao. Hexonaut insists the bull market was good, but “the time is passing” and he believes Makerdao needs […]

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Stablecoin Flippening: UST Becomes the Biggest Decentralized Stablecoin By Market Cap

DIGIT — Tue, 21 Dec 2021 05:30:05 +0000

UST, one of the stablecoins of the Terra project, has become the largest stablecoin by market capitalization today, after having surpassed its Ethereum-based rival, DAI. UST is now the largest decentralized stablecoin in the market, closing a year of growth for the Terra ecosystem, which is now among the most valuable top ten cryptocurrency projects […]

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Coinbase Launches Defi Yield Earning Service to Over 70 Countries, United States Not Included

DIGIT — Fri, 10 Dec 2021 17:30:54 +0000

The cryptocurrency exchange Coinbase has revealed that it has made decentralized finance (defi) more accessible by giving Coinbase customers from over 70 countries access to earning yield on the stablecoin DAI. Coinbase claims the process is simple with “no fees, lockups, or set-up hassle,” as the firm believes “defi has tremendous potential to help increase […]

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Third-Largest Bank in France Societe Generale Proposes Use of Defi Protocol Makerdao

DIGIT — Fri, 01 Oct 2021 20:49:40 +0000

French multinational investment bank and financial services company, Societe Generale, has proposed to leverage the decentralized finance (defi) protocol Makerdao. The proposal dubbed “Security Tokens Refinancing” was published on October 1 to Makerdao’s forums and the submission aims to utilize the DAI stablecoin to refinance a covered bond concept. Societe Generale Proposes Leveraging Makerdao and […]

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Valuation of Stablecoin DAI Market Swells — DAI Market Cap Increased More Than 800% in 12 Months

DIGIT — Sat, 18 Sep 2021 18:30:58 +0000

Recently Bitcoin.com News covered the stablecoin tether and how the crypto asset’s market valuation jumped more than 1,500% in just over 500 days. In addition to this exponential increase, the decentralized stablecoin DAI’s market capitalization has also swelled significantly as DAI’s market valuation jumped more than 800% during the last 12 months, increasing from $696 […]

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