MakerDAO Launches Community Proposal on SPK Pre-mining Airdrop and SubDAO Mining Economic Model Overview
Rune Christensen, the founder of MakerDAO, has released a community proposal covering "SparkDAO SPK pre-mining airdrops; SubDAO farming overview". The proposal details the possible SPK pre-mining airdrop plan for the lending protocol Spark Protocol and will review the second phase SubDAO mining economic model.
Data: Total DSR Deposits of DAI Exceeded $1 Billion
On August 10th, it was reported that the total amount of DAI deposited in MakerDAO's lending protocol, Spark Protocol, has exceeded $1 billion.
Justin Sun Mortgaged 190 Million US Dollars of stETH To Mint 77.8 Million DAI 7 Hours Ago and Deposited It in MakerDAO
According to Twitter user Yu Jin monitoring, Sun Yuchen pledged 102,462 stETH coins (190 million US dollars) 7 hours ago to mint 77.8 million DAI coins, and then deposited the DAI coins into Maker. Currently, the DAI deposit interest rate (DSR) is 8%.
IPOR Labs: IPOR DAI Liquidity Providers Can Enjoy 8% Enhanced DAI Savings Rate Advantage
IPOR Labs team has announced that they have included an 8% Enhanced DAI Savings Rate (EDSR) in the IPOR DAI asset management contract. EDSR has now been merged with all audited relevant smart contract changes. The smart contract update allows IPOR DAI pool liquidity to be guaranteed by depositing it into MakerDAO's insurance fund and earning EDSR rewards.
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 Annual Returns for Depositing DAI Stablecoin to 8% in Temporary Move
The MakerDAO community has approved a temporary increase in the annual returns for depositing DAI stablecoin into the protocol, allowing for an 8% yield on holdings. The interest rate earnings on DSR are enabled through Spark Protocol, which is not available to non-U.S. users or VPN-linked addresses. The MakerDAO community governs the Maker Protocol, which mints the dollar-pegged DAI against over-collateralized deposits of other cryptocurrencies. The total amount of DAI deposited in the DSR contract has jumped by 75.7% since the activation of EDSR, but the increased savings rate is temporary and will reduce toward the protocol's average stability fee of 3.19%.
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.
MakerDAO Criticized for Blocking VPN Users from Accessing Lending Platform
MakerDAO has faced criticism for blocking VPN users from accessing its new lending platform, Spark Protocol. The move is linked to Maker's attempt to restrict US users from accessing the platform, and Spark Protocol's terms of service prohibit US users from using a VPN to conceal their US residency.
MakerDAO Co-Founder Sees Upside After Curve Finance Exploit Triggers DeFi Worries
Rune Christensen, co-founder of MakerDAO, believes that the recent exploit of Curve Finance may actually have a positive outcome for the decentralized finance industry. He compared it to the Black Thursday crash and suggested that it may be the last crash before a bull market. The exploit resulted in $24 million being drained from several stablecoin pools due to a vulnerability in Vyper contracts. Other blockchain leaders, such as Aave founder Stani Kulechov, also commented on the incident, acknowledging the difficulty of building resilient DeFi protocols.
MakerDAO Introduces Enhanced DAI Savings Rate To Boost Demand for Stablecoin
MakerDAO, a major DeFi lending protocol, has voted to introduce the Enhanced DAI Savings Rate (EDSR) to boost demand for its $4.6 billion DAI stablecoin. The EDSR could increase the interest rate for DAI holders to as high as 8%.
