The crypto market has taken a beating prior to now few days, with some DeFi vaults going through liquidation if ETH continues to drop. The drop in prices within the crypto market is seeing some potential liquidations looming. Available knowledge pointed to a MakerDAO vault that faces liquidation at $1,284. The worth is about $4.3 … Read more
Users of MakerDAO, the group behind DAI, will now be capable of mint the stablecoin at no cost. This was made attainable after an govt vote elevated the debt ceiling for its stETH vault to 200 million DAI. The greater debt ceiling is predicted to attenuate its dependency on assist from centralized collateral belongings. As … Read more
MakerDAO co-founder Rune Christensen plans to promote up to $3.5 billion in USDC for Ethereum — a transfer that would end in its DAI stablecoin dropping its greenback peg. DAI is 32% backed by Circle’s USDC stablecoin, according to information from Daistats. That is the equal of about $3.5 billion. It is the single-largest collateral … Read more
MakerDAO co-founder Rune Christensen just lately proposed eradicating all USDC from the DAI stablecoin’s peg-stability module. He steered that the USDC inside, price $3.5 billion, may very well be used to purchase ETH as a substitute. Yet regardless of what such a conversion may do to spice up ETH’s value, Vitalik Buterin stated it was … Read more
The Celsius Network has repaid over $142 million in MakerDAO loans since July 1, quickly decreasing its Bitcoin liquidation worth from above 5 figures to beneath $5,000. The firm repaid $114 million to the protocol on July 4. According to crypto researcher Plan C, together with MakerDAO funds, the corporate paid off additional money owed … Read more
MakerDAO, one of many oldest DAOs, has suspended its DAI stablecoin from being minted and deposited into Aave’s lending platform. MakerDAO’s suspension got here as crypto lender Celsius borrowed 100 million DAI in opposition to a collateral of stETH out of each 200 million DAI borrowed from Aave’s Ethereum V2. Aave’s platform permits customers to … Read more