These changes are slated to be implemented within the next 48 hours, specifically at 16:14 UTC on March 13th.

According to Cointime, DAI, a stablecoin created and maintained on the Ethereum blockchain through a smart contract system called MakerDAO, is trading at $0.91 USD as of press time, with a 24-hour drop of 8.12%.

Dealing with a heavy sell off, the global digital asset market registered a broad recovery on Saturday morning. Bitcoin, Ethereum price jumped by 3% and 5%, respectively. However, the top stablecoins USDC, DAI, USDD witnessed a heavy depegging as the Silicon Valley Bank crisis continues to haunt the crypto market.

New York Attorney General Sues Crypto Exchange KuCoin, Alleges Ether Is a Security; Blockchain.com to Suspend Operations of Asset Management Arm; Gateio Launching Debit Card Supporting Shiba Inu & Crypto Payments Across Europe; Binance Approves TerraClassicUSD (USTC) Against Tether USD (USDT) Trading Pair

MakerDAO’s DAI stablecoin could be due for a makeover.

MakerDAO, the governance token behind the fifth most popular stablecoin DAI, is contemplating an increase in its United States Treasury bond investments to $1.25 billion from its previous allocation of $500 million.

MakerDAO is considering raising the ceiling of its Treasury bond investments to $1.25 billion. A proposal was listed on March 6, stating that it would help take advantage of the current yield environment.

MakerDAO, the governance token behind the fourth largest stablecoin by market capitalization DAI, has decreased in trading volume by 37% and seen a 3.7% dip in token price over the last 24 hours.

MakerDAO [MKR] may have had one of its best-performing months in February, but that 40% 30-day surge only had a minimal impact on the token’s long-term holders.

Ongoing voting showed that the Lido community would most likely support the Ethereum Shanghai Upgrade. The protocol’s TVL growth has evidently surpassed others.

Binance Moved $1.8B in Stablecoin Collateral to Hedge Funds Last Year; Huawei To Launch Metaverse and Web3 Alliance for East Asia; Tron Founder Justin Sun Becomes Top Holder Of Staked Ethereum Amid Shanghai Upgrade; DeFi Giant MakerDAO Rejects $100M Loan to Cogent Bank

The MakerDAO community rebuffed state-chartered Cogent Bank’s proposal to borrow $100 million from the decentralized lending platform Maker, the protocol’s governance site showed on Monday.

The value of the crypto market has started to slide again after a bullish run-up over the last seven weeks. The total value locked (TVL) in decentralized finance (defi) has slipped below the $50 billion mark to $49.8 billion. The TVL in defi has fallen by 2.24% over the last 24 hours. During that same timeframe, the top smart contract token economy lost 3.7% against the U.S. dollar.

MakerDAO reiterates its smart contracts are not controlled by, or in control of, the Oasis frontend smart contracts.

Borrowing and lending cryptocurrency can be a lucrative investment strategy, but it comes with risks. It’s important to do your research and only invest what you can afford to lose.

Crypto lending platform MakerDAO is voting on a new proposal to bring another commercial bank into its ecosystem, strengthening the connection between decentralized finance (DeFi) and traditional finance. 

Beosin Alert @BeosinAlert announced on Twitter that Cream Finance exploiter 0x70747df6ac244979a2ae9ca1e1a82899d02bbea4 swapped another 1m $DAI for 658 $ETH, transferred to 0xdece02a7c930d917d870ec8859434791f86d63c3 address and then to TradeOgre.  

MakerDAO recently announced the successful integration of Chainlink Automation. As the creator of DAI, the protocol has onboarded Chainlink to its Keeper Network.

MakerDAO, one of the largest decentralized finance (DeFi) platforms, successfully onboarded blockchain data provider Chainlink’s smart contract automation into its Keeper system that maintains the stability of Maker’s DAI stablecoin, Chainlink Labs announced Thursday in a press release.