DeFi Giant MakerDAO Holds Voting on Hiking DAI Stablecoin Rewards

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

United States Headlines News

United States Latest News,United States Headlines

The MakerDAO community is voting on hiking rewards up to 1% for investors in the protocol’s stablecoin, DAI. The move may make DAI more competitive and help mitigate capital outflows from decentralized to traditional finance. sndr_krisztian reports

As Maker increasingly invests in assets outside digital assets, it may offer a way to capture the rising yields in traditional markets while simultaneously mitigating capital outflows from crypto, MacPherson argued in a tweet.forum discussion

earlier this month, Derivaux said that raising the reward would also make DAI more competitive compared to rival stablecoins. “We could expect that such a move would incentivize USDC holders to migrate to lend DAI instead,” Derivaux wrote in his proposal. “On the other hand, this would be a significant cost for MakerDAO.”

Source: Financial Digest (financialdigest.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

sndr_krisztian Lol 'decentralized'

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MakerDAO community votes against CoinShares’ $500M investment proposalThe decision by the MakerDAO community comes months after it approved the custodianship of $1.6 billion worth of USDC with Coinbase Prime.
Source: Cointelegraph - 🏆 562. / 51 Read more »

MakerDAO Community Rejects CoinShares Proposal to Invest Up to $500M in BondsEXCLUSIVE: The community of MakerDAO, the largest decentralized lending protocol, voted to oppose crypto investment firm CoinShares’ proposal to invest between 100 million and 500 million USDC in a portfolio of bonds sndr_krisztian reports sndr_krisztian Binance_Futuree is doing a challenge for the season. $10,000 to get $85,000 in two weeks, this opportunity won’t last long. Hurry up and be part of the platform Message them now to start immediately
Source: CoinDesk - 🏆 291. / 63 Read more »

After FTX: Defi can go mainstream if it overcomes its flawsSome of the biggest DeFi exploits of 2022 include the Ronin network exploit in March that resulted in a loss of $620 million worth of funds. Working on it … Check out _VaporFi & the Vapor_DEX Everyone is Welcome $VPND DeFi DEX $VAPE
Source: Cointelegraph - 🏆 562. / 51 Read more »

Whole DeFi Industry Dominated by Just Two Applications$LDO and $DAI dominance on the DeFi market is obvious, but do they pose any threat to DeFi stability in general?
Source: Utoday_en - 🏆 295. / 63 Read more »

Guest Post by Venus Protocol: The Venus Protocol v4 Proposal is out! | CoinMarketCapCMCCommunity Spotlight ✨ The Venus Protocol v4 Proposal is out! 🔥 VenusProtocol Crypto CoinMarketCap CMC CMCY $XVS VenusProtocol BNB VenusProtocol FACT VenusProtocol Thankss a millonn
Source: CoinMarketCap - 🏆 290. / 63 Read more »

Centralized Crypto Exchanges Will Remain Dominant Despite FTX Collapse: JPMorganDeFi protocols rely heavily on centralized exchanges to be able to function and it would likely take a long time until price discovery shifts from centralized to decentralized exchanges, the bank's analysts said. godbole17 Why does everyone keep calling it a collapse! They stole the money! godbole17 Jamie dimon: crypto is a scam and not safe for consumers. Also jamie dimon: here's my patent for a crypto wallet we hope people love. 🤪 godbole17 They'll remain dominant because they're easy to use People will follow the path of least resistance If we want them to go to DeFi make DeFi as easy to use or easier
Source: CoinDesk - 🏆 291. / 63 Read more »