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Since March 12, the Makerdao community has been struggling with the stablecoin DAI which has been over $4 million undercollaterized since the crypto market carnage started. On March 18, the developers plan to auction newly minted maker (MKR) tokens in order to remove the outstanding debt. However, the auction might not be enough and the … Read more
Stablecoins have seen massive volume and growth this month especially after the market carnage on March 12. Per usual, tether has been the king of stablecoins following the market downturn, but the 4.6 billion USDT wasn’t enough for all the liquidity needed to shield the storm. Other tokens pegged to the U.S. dollar like USDC, … Read more
The price of ethereum dropping double digits on March 12 sent shockwaves through the decentralized finance (defi) community. Makerdao’s single collateral DAI has been struggling and the low price of ETH has left millions worth of DAI undercollateralized. The defi project’s undercollateralizition was also blamed on price oracle discrepancies. Also read: The 35 Most Influential … Read more
For the first time, MKR tokens will be minted and auctioned for DAI to repay outstanding debts that failed as a result of the recent crypto market meltdown Go to Source Powered by WPeMatico
DeFi giant MakerDAO struggles to keep up with tanking Ether price, but developers are avoiding shutdown for now Go to Source Powered by WPeMatico
Two recent flash loans on the defi platform Bzx have started a fierce debate about the subject of using uncollateralized loans in a quick trade. Essentially these flash loans are providing people with the ability to borrow crypto without relinquishing any collateral. The scheme was used to exploit funds from the Bzx platform twice, as … Read more
Stablecoins have become a very big part of the crypto asset industry. Although they lack privacy, many people are willing to experiment with them for a variety of reasons. Dai, the popular stablecoin issued on the Ethereum blockchain, is getting a privacy component. zkDAI is a Different Type of Stablecoin More specifically, the Aztec Protocol … Read more
The total value locked (TVL) in decentralized finance applications has surpassed $1 billion, prompting celebrations from the Ethereum community. Not everyone has been swift to toast the milestone, however, with suggestions that the true value locked into defi protocols is materially lower. Meanwhile, creeping competition from centralized lenders shows that defi will have to innovate … Read more
The Ethereum (ETH) blockchain has become home to a number of stablecoins. On January 29, Messari researcher Ryan Watkins explained that the stablecoin value transfer issued on the ETH chain recently flipped the number of native ether transactions. Essentially, Ethereum’s value transfer is now largely made up of stablecoins like tether, pax, and dai. Also … Read more
Can any stablecoin topple tether? In 2019, the answer to that question was an emphatic ‘No.’ Despite a string of stablecoins being released onto the market, tether (USDT) increased its grip on the cryptoconomy’s fiat supply, racking up $127B of on-chain volume on Ethereum alone. This year, the king of stablecoins faces a renewed assault … Read more
