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MakerDAO Increases Its DAI Savings Rate, Thanks to Competitive DeFi Landscape

Following an executive proposal decided upon on 11 December and executed on-chain on 12 December, MakerDAO [MKR] implemented an increment of its DAI Savings Rate from 0.01% to 1%. 

DAI is a decentralized stablecoin whose value is pegged to the dollar and backed by centralized stablecoins such as  USD Coin (USDC) and Pax Dollar (USDP) and other cryptocurrency assets such as Ethereum (ETH) and Wrapped Bitcoin (WBTC). 

(by Abiodun Oladokun)

MakerDAO Dai DeFi
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