Euler Finance Exploiter Returns Another $37.1M Worth of ETH and DAI
The exploiter behind the Euler Finance hack has returned an additional $37.1 million worth of ETH and DAI to the platform. Euler Finance, a decentralized finance (DeFi) platform, was hacked in February 2023, resulting in the loss of approximately $100 million worth of cryptocurrencies.
Current Status and Outlook of Stablecoins 2023
From the centralized stablecoins represented by $USDT and $USDC, to the over-collateralized stablecoins dominated by $DAI and $FRAX, to the rise and fall of $UST, the stablecoin world is constantly evolving. In this report, we'd like to show the current status and look into the future of stablecoins.
Euler Hacker Returns 51,000 Ether Worth About $89 Million
The Euler Finance exploiter has returned 51,000 ether to the DeFi lending protocol.
Will MakerDAO’s New Changes Instill Confidence in DAI
Leading decentralized finance protocol, MakerDAO [MKR], has proposed changes to its Peg Stability Module (PSM) operations in response to DAI’s recent loss of parity with the US dollar. The proposal seeks community approval to adjust the PSM parameters. These were previously adjusted through a series of emergency proposals to prevent the stablecoin’s permanent de-pegging.
DAI Supply Has Fallen by 13% This Week
In the past week, MakerDAO has experienced a drop in total value locked (TVL), the supply of DAI, and annualized fee income, signaling some potential trouble for one of the world’s largest stablecoin issuers.
DAI-Stressed MakerDAO Struggles As Users Look Toward Other Stablecoins
While its DAI stablecoin regained its parity with the U.S. dollar last week, increased uncertainty as to whether a further de-pegging should be expected resulted in a decline in MakerDAO’s [MKR] total value locked (TVL) in the last seven days.
MakerDAO Cites ‘Uncertainty’ To Usher In New Changes to Protocol
As the FUD around stablecoins gathers steam, many DeFi protocols have started to implement changes and proposals to their networks. MakerDAO, for instance, has deployed new parameters to mitigate the risk against the volatility of stablecoin markets.
MakerDAO Looks To Limit Volatility After USDC Troubles Pushed Some Users to DAI
MakerDAO, which manages the "decentralized" dai stablecoin, launched an emergency proposal to reduce the amount of DAI that can be minted with other centralized stablecoins after concerns over Circle's exposure to the shuttered Silicon Valley Bank pushed users away from USDC and into competing assets.
Majority of Stablecoins Re-Store the $1 Peg – Including USDC Whilst USDT Dominance Hits 58%
Over the past few days, stablecoins lost the peg to $1; the main headline was USDC.
