Several DeFi Giants Start Flash Mob About Upcoming Project, What’s Happening?
Multiple DeFi protocols including MakerDAO, SushiSwap, and Balancer simultaneously posted pictures of “fist bump” with different background colors on their official Twitter accounts on Saturday. The decentralized finance platforms hint at an upcoming huge announcement related to the DeFi market on Monday, February 6.
MakerDAO Constitution Would Fund Sustainability Efforts With 20K MKR Tokens From Reserves, Emissions
An early draft of MakerDAO's proposed governance constitution would have the DAI stablecoin issuer join the fight against climate change with 20,000 MKR tokens (around $14 million) to fund sustainability campaigns through 2040.
MakerDAO Revenue Fell 42% in 2022 Amid Shrinking Crypto Lending Market
MakerDAO, which builds the platform that issues the DAI stablecoin, saw a marked decline in 2022 revenue, as the DeFi protocol launched a significant pivot from crypto-native lending to the real-world asset market, according to a financial report issued by Steakhouse Financial.
Total revenue decreased 42% to 65 million DAI ($65 million) in 2022 from 112 million DAI in 2021, the report said. This led to an 80% drop in the protocol’s net operating earnings to 19 million DAI last year from 90 million DAI in 2021. Operating expenses rose to 46 million DAI in 2022, more than double the figure reported the previous year.
MakerDAO Launches $5M Legal Defense Fund
According to a new social post on Feb. 1, Maker decentralized autonomous organization, or MakerDAO, has approved the creation of a new fund dedicated to expenses related to legal defense.
MakerDAO Has a New Proposal to Increase Compound D3M Debt Ceiling
In a new proposal, the Open Market Committee of leading decentralized finance platform (DeFi) MakerDAO has sought community approval to increase the maximum debt ceiling on its Compound DAI Direct Deposit Module (Compound V2 D3M) by 300% and to set the Target Available Debt on the same vault to 5 million DAI.
MakerDAO Passes Proposal To Deploy $100 Million USDC In Yearn Finance Vault
In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle’s USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.”
Will MakerDAO Find Savior in YFI As MKR Declines
After its proposal in November to deploy $100 USD Coin [USDC] into the Yearn Finance [YFI] DeFi protocol, MakerDAO [MKR] finally approved it. Details from the poll showed that 71.56% of the MKR community voted in favor of the proposition, while 28.44% preferred to say no to the “Yearn to earn Yield” proposal.
MakerDAO Approves Deployment of $100M USDC on DeFi Protocol Yearn Finance
Decentralized finance (DeFi) giant MakerDAO’s community approved Monday a proposal to deploy up to $100 million USD Coin (USDC) from its reserve on DeFi protocol Yearn Finance, where the deposited stablecoin will earn a yield.
Paxos Courts MakerDAO With Paying Yield for Holding Up to $1.5B USDP Stablecoin
Stablecoin issuer Paxos proposed paying a steady fee to decentralized finance giant MakerDAO for holding up to $1.5 billion of Pax USD (USDP) stablecoin among its reserves.
MakerDAO Votes to Keep Gemini USD in DAI Stablecoin’s Reserves
Decentralized finance giant MakerDAO’s community voted for keeping Gemini USD (GUSD) stablecoin as part of the protocol’s reserve system for its DAI stablecoin in a dramatic vote that flipped at the finish line.
