MakerDAO Founder Releases "Next Generation Altas and Governance AI Tools", Aiming at Optimizing Governance Participation
On August 18th, MakerDAO founder Rune Christensen published an article titled "Next-Generation Atlas and Governance AI Tools," pointing out that the adaptive system dataset method is the universal concept upon which the next-generation Atlas is based. The system dataset contains a dataset of all data related to the entire system end-to-end. In the context of Maker, it includes all relevant data related to Maker's governance, protocol, community, and ecosystem, including principles, rules, processes, roles, historical data, precedents, examples, analysis, translation, graphic visual aids, code, smart contract addresses, and tools, among other things. Atlas not only contains all data related to Maker, but also controls the way data is changed and records changes in real-time. Governance AI Tool (GAIT) is key to allowing people to easily participate in Maker governance through the Atlas process. GAIT helps prioritize the time and attention of participants and automates most of the interaction required for governance participation.
MakerDAO Launches Proposal on EDSR and Stability Fee Adjustment
On August 18, MakerDAO governance page shows that a series of adjustment proposals, including EDSR and stability fees, have started voting. The main content of the proposal includes: DSR will be reduced according to EDSR, and after this proposal is passed, DSR will be reduced from 8% to 5%; increase stability fees for ETH, wstETH, rETH, and other stablecoins; update parameters for the intelligent burning engine.
MakerDAO Founder’s New Proposal Intends To Officially Incorporate the Spark-Aave Revenue Sharing System Into the Maker Ecosystem
On August 17th, MakerDAO founder Rune Christensen initiated a proposal for community governance. The proposal aims to formally incorporate the Spark protocol-Aave revenue sharing system into the Maker ecosystem protocol and attempt to fix its flaws to align with expected behavior and expectations.
Maker Protocol Annualized Revenue Exceeds $165 Million
According to Makerburn.com data, the supply of DAI stablecoin has surged to a 5-month high of 5.35 billion. With the increase in supply, the protocol's annual income has also reached its highest point in two years at $165.4 million, which means that Maker currently earns about $165 million in fees per year.
After the DAI Deposit Interest Rate Was Raised to 8%, Its Market Value Increased by Nearly 1 Billion US Dollars in 7 Days
According to CoinMarketCap data, after MakerDAO raised the DAI deposit interest rate (DSR) to 8%, the market value of DAI has increased by nearly $1 billion in the past 7 days. The market value of DAI increased from $4.45 billion on August 6 to $5.33 billion.
In addition, according to the Makerburn dashboard, this incentive immediately affected the amount of DAI in DSR, increasing from 339.4 million on August 6 to 1.27 billion.
Spark Protocol Has a Market Size of Nearly $650 Million and Has Lent Over $209 Million in Assets
According to official data, the market size of Spark Protocol, a lending protocol under MakerDAO, has approached $650 million. In addition, Spark Protocol has lent out over $209 million in assets, of which the borrowing volume of DAI is $198 million, accounting for 95% of the total borrowing asset scale.
Justin Sun Currently Mortgages a Total of 330 Million US Dollars Worth of stETH, Minted 117.8 Million DAI and Deposited It Into MakerDAO
August 10th, Justin Sun has currently staked a total of 157,000 stETH (worth approximately $330 million) and minted 1.178 billion DAI, which has been deposited into MakerDAO to earn its current 8% deposit interest rate.
Based on the current deposit interest rate, Justin Sun's 1.178 billion DAI is expected to earn $6.53 million in one year, or approximately $17,900 per day.
Data: Spark Protocol TVL Has Reached 340 Million US Dollars, a 5-Fold Increase in the Past Week
On August 10th, according to DefiLlama data, the TVL of Spark Protocol, a lending protocol under MakerDAO, has reached $347 million, a five-fold increase in the past week. Earlier, on August 7th, MakerDAO passed and executed proposals to increase Spark Protocol's debt ceiling.
MakerDAO Launches Community Proposal on SPK Pre-mining Airdrop and SubDAO Mining Economic Model Overview
Rune Christensen, the founder of MakerDAO, has released a community proposal covering "SparkDAO SPK pre-mining airdrops; SubDAO farming overview". The proposal details the possible SPK pre-mining airdrop plan for the lending protocol Spark Protocol and will review the second phase SubDAO mining economic model.
Data: Total DSR Deposits of DAI Exceeded $1 Billion
On August 10th, it was reported that the total amount of DAI deposited in MakerDAO's lending protocol, Spark Protocol, has exceeded $1 billion.
Justin Sun Mortgaged 190 Million US Dollars of stETH To Mint 77.8 Million DAI 7 Hours Ago and Deposited It in MakerDAO
According to Twitter user Yu Jin monitoring, Sun Yuchen pledged 102,462 stETH coins (190 million US dollars) 7 hours ago to mint 77.8 million DAI coins, and then deposited the DAI coins into Maker. Currently, the DAI deposit interest rate (DSR) is 8%.
IPOR Labs: IPOR DAI Liquidity Providers Can Enjoy 8% Enhanced DAI Savings Rate Advantage
IPOR Labs team has announced that they have included an 8% Enhanced DAI Savings Rate (EDSR) in the IPOR DAI asset management contract. EDSR has now been merged with all audited relevant smart contract changes. The smart contract update allows IPOR DAI pool liquidity to be guaranteed by depositing it into MakerDAO's insurance fund and earning EDSR rewards.
MakerDAO Founder Proposes To Adjust EDSR To Give Priority to Ordinary DAI Holders
The founder of MakerDAO released a new proposal about EDSR (Enhanced DSR) in the community. Within 48 hours since the activation of EDSR, the DAI supply has increased by nearly 500 million, and the DSR utilization rate has approached the threshold of 20%, which will automatically reduce EDSR to about 5.8%.
MakerDAO Increases Annual Returns for Depositing DAI Stablecoin to 8% in Temporary Move
The MakerDAO community has approved a temporary increase in the annual returns for depositing DAI stablecoin into the protocol, allowing for an 8% yield on holdings. The interest rate earnings on DSR are enabled through Spark Protocol, which is not available to non-U.S. users or VPN-linked addresses. The MakerDAO community governs the Maker Protocol, which mints the dollar-pegged DAI against over-collateralized deposits of other cryptocurrencies. The total amount of DAI deposited in the DSR contract has jumped by 75.7% since the activation of EDSR, but the increased savings rate is temporary and will reduce toward the protocol's average stability fee of 3.19%.
MakerDAO Increases Yield on DAI Stablecoin to 8%, Restricts VPN Access on Lending Platform Spark
MakerDAO has increased the yield on its stablecoin, DAI, from 3% to 8%, making it one of the highest rates offered by a major stablecoin issuer. A single crypto participant transferred 14.32 million DAI into MakerDAO's lending platform, Spark, likely to take advantage of the increased yield. Spark has recently restricted users from accessing its front end via virtual private networks (VPNs) to geo-block users from specific geographies, including the United States. This move is unusual in the DeFi sector and appears to specifically target U.S.-based users.
MakerDAO Criticized for Blocking VPN Users from Accessing Lending Platform
MakerDAO has faced criticism for blocking VPN users from accessing its new lending platform, Spark Protocol. The move is linked to Maker's attempt to restrict US users from accessing the platform, and Spark Protocol's terms of service prohibit US users from using a VPN to conceal their US residency.
MakerDAO Co-Founder Sees Upside After Curve Finance Exploit Triggers DeFi Worries
Rune Christensen, co-founder of MakerDAO, believes that the recent exploit of Curve Finance may actually have a positive outcome for the decentralized finance industry. He compared it to the Black Thursday crash and suggested that it may be the last crash before a bull market. The exploit resulted in $24 million being drained from several stablecoin pools due to a vulnerability in Vyper contracts. Other blockchain leaders, such as Aave founder Stani Kulechov, also commented on the incident, acknowledging the difficulty of building resilient DeFi protocols.
MakerDAO Introduces Enhanced DAI Savings Rate To Boost Demand for Stablecoin
MakerDAO, a major DeFi lending protocol, has voted to introduce the Enhanced DAI Savings Rate (EDSR) to boost demand for its $4.6 billion DAI stablecoin. The EDSR could increase the interest rate for DAI holders to as high as 8%.
Paradigm Capital Prepares to Sell $3.5 Million Worth of MakerDAO Governance Token MKR
Blockchain data from Arkham Intelligence indicates that Paradigm Capital may be preparing to sell its $3.5 million worth of MakerDAO governance token MKR. The data shows that 3,000 MKR were transferred from Paradigm's crypto wallet to an OTC wallet. This is not the first time Paradigm has made such a move, as in March they transferred $20 million of MKR to the same wallet before sending it to crypto exchange Coinbase. This move by Paradigm follows Andressen Horowitz's recent deposit of $7 million worth of MKR tokens to Coinbase.
Maker (MKR) Price Rises Amid New Governance Proposals and Increased Trading Activity
MakerDAO's MKR token saw a 3% increase in price despite a broader market correction. This growth is attributed to increased ecosystem activity and the Maker Governance vote to approve or reject new Spark Protocol changes. The proposed changes could provide benefits to DAI borrowers, leading to increased market activity and demand for MKR. The ongoing poll has also increased trading activity and demand for MKR, with a significant increase in trading volume and attention from investors.
