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 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.
The DAI borrowing limit on Spark Protocol has been reached, hitting the current D3M Debt Ceiling of 20 million DAI
Maker Governance has approved an increase in the Debt Ceiling from 20 million to 200 million through a Governance Poll.
Multichain-Related EOA Addresses Transferred Large Amounts of Assets 10 Hours Ago
The information on the chain shows that the assets in the address starting with 0x1eed related to Multichain were transferred to the address starting with 0x6320. The transferred assets included about 64 million fUSDT, 13,000 WETH, 11.9 million DAI and 52 WBTC.
Whales Accumulate DAI While Trying to Buy Bitcoin, Boosting MakerDAO's Revenue
Whales have been buying DAI in an attempt to accumulate more BTC, leading to a spike in revenue for MakerDAO. Despite the growing interest in BTC from institutional players like BlackRock, DAI may emerge as a beneficiary. Traders have been closely monitoring the price range of $30k to $31k for Bitcoin and accumulating stablecoins such as DAI. MakerDAO's revenue has grown by 41.5% over the last month, with Real-World Assets (RWA) being a major contributor.
MakerDAO's WSTETH Vaults See Surge in Interest and Adoption, Surpassing ETH as Primary Collateral for DAI Generation
MakerDAO's wstETH has seen a surge of interest in its vaults, with the WSTETH-B vault holding an impressive 309 million DAI and the WSTETH-A vault accumulating 221 million DAI. The RETH-A vault also recorded a substantial amount, with 21 million DAI.
Shiba Inu Listed on SBI VC Trade, Increasing Exposure in Japanese Market
June 28 (Cointime) - SBI VC Trade, a subsidiary of Tokyo-based financial holding company SBI, has announced the listing of three crypto assets, including Shiba Inu (SHIB), on its cryptocurrency exchange platform.
BUSD Stablecoin Market Capitalization Dips Below Rival DAI After $95 Million Burn
June 16 (Cointime) - After a $95 million burn, BUSD stablecoin's market capitalization has fallen below that of DAI. Despite maintaining its third most dominant position for over three months, the decline of BUSD was inevitable after Paxos stopped issuing it in February.
MakerDAO Community Votes on Proposal to Decrease GUSD Stablecoin Reserves by $390 Million
June 15 (Cointime) - MakerDAO, a decentralized finance (DeFi) lending platform and stablecoin issuer, is considering reducing its holding of Gemini's GUSD stablecoin from $500 million to $110 million in its DAI stablecoin reserve.
Stablecoins Resurge in Interest Following SEC Lawsuits
Following the SEC's lawsuits, there has been a resurgence of interest in stablecoins. This is evidenced by the increase in unique active addresses and weekly senders in stablecoin transactions. Investors are seeking stability and risk mitigation by shifting their investments from altcoins to stablecoins.
