MakerDAO Increases Its DAI Savings Rate, Thanks to Competitive DeFi Landscape
Following an executive <a href="https://vote.makerdao.com/executive/template-executive-vote-recognized-delegate-compensation-gno-onboarding-blocktower-credit-rwa-vaults-onboarding-renbtc-offboarding-mkr-vesting-momc-parameter-changes-dai-savings-rate-adjustment-starknet-bridge-parameter-changes-december-09-2022#proposal-detail" target="_blank">proposal</a> decided upon on 11 December and executed on-chain on 12 December, <a href="https://ambcrypto.com/predictions/maker-price-prediction">MakerDAO [MKR]</a> implemented an increment of its DAI Savings Rate from 0.01% to 1%.
The Latest Proposal From MakerDAO Could Have This Impact on DAI
<a href="https://ambcrypto.com/makerdao-mkr-all-you-need-to-know-about-protocols-latest-proposal/">MakerDAO</a>, the governance division of <a href="https://ambcrypto.com/maker-governance-team-implements-parameter-changes-to-protect-dai-holders/">Maker</a>, the company that issues DAI, recently voted on the addition of interest rates in a <a href="https://vote.makerdao.com/polling/QmV3oNeX#vote-breakdown" target="_blank">proposal</a> on 28 November. The proposed interest rate was between 0.01% and 1%.
MakerDAO Community Votes to Hike DAI Rewards to 1%
The community of <a href="https://www.coindesk.com/learn/how-does-makerdao-work-understanding-the-central-bank-of-crypto/">MakerDAO</a>, one of the largest decentralized finance (DeFi) protocols, voted to increase the rewards rate for its <a href="https://www.coindesk.com/price/dai/">DAI</a> stablecoin to 1%.
DeFi Giant MakerDAO Holds Voting on Hiking DAI Stablecoin Rewards
DeFi giant <a href="https://www.coindesk.com/learn/how-does-makerdao-work-understanding-the-central-bank-of-crypto/">MakerDAO</a>'s community is voting on increasing the annual reward for its <a href="https://www.coindesk.com/price/dai/">DAI</a> stablecoin up to 1%.
MakerDAO Community Rejects CoinShares Proposal To Invest Up to $500M in Bonds
The MakerDAO community rejected a proposal to use up to $500 million of the stablecoin USDC to invest in bonds with crypto investment firm CoinShares.
MakerDAO Votes to Offload Alameda’s renBTC From Dai Stablecoin Collateral
MakerDAO, the decentralised organisation behind Dai stablecoin, has voted to remove renBTC tokens as part of the stablecoin’s collateral assets in response to the collapse of Alameda Research.
MakerDAO Passes Vote To Close Alameda-Linked renBTC As Stablecoin Collateral
Dai stablecoin issuer MakerDAO passed a governance proposal to remove renBTC from being used as collateral and reduce exposure to what’s deemed a risky asset by the DAO. RenBTC is a wrapped bitcoin asset developed by the Alameda Research-backed project Ren Protocol.
A Whale Withdrew 2000 BTC From MakerDAO
According to PeckShieldAlert on Twitter, a whale just withdrew 2000 BTC (current worth $32,802,040) from MakerDAO.
MakerDAO’s Removal of ‘Bad Debt’ Might Be a Good Thing for Users
After the FTX debacle, many in the crypto-community have put their faith in DEXs. It is against this background that MakerDAO announced that it will be liquidating multiple vaults to minimize risks.
MakerDAO Launches LSD Token of Rocket Pool
MakerDAO, a DeFi protocol, has accepted the LSD token of Rocket Pool. This deal might elevate the competition for the giant Lido, MakerDAO. Users can use the token, rETH, to mint the stablecoin of Maker’s DAI.
