makerdao Archives - Top Crypto Game https://topcryptogame.com/tag/makerdao/ The latest crypto news! Fri, 16 Aug 2024 17:04:44 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://topcryptogame.com/wp-content/uploads/2022/01/cropped-favicon-32x32.png makerdao Archives - Top Crypto Game https://topcryptogame.com/tag/makerdao/ 32 32 Crypto investors redeem over $30 million WBTC as MakerDAO halts new loans https://topcryptogame.com/crypto-investors-redeem-over-30-million-wbtc-as-makerdao-halts-new-loans/ https://topcryptogame.com/crypto-investors-redeem-over-30-million-wbtc-as-makerdao-halts-new-loans/#respond Fri, 16 Aug 2024 17:04:44 +0000 https://topcryptogame.com/crypto-investors-redeem-over-30-million-wbtc-as-makerdao-halts-new-loans/ MakerDAO, the decentralized autonomous organization behind the DeFi protocol Maker, has approved a proposal to halt new borrowing against BitGo’s wrapped Bitcoin (WBTC). On Aug. 15, MakerDAO revealed that it was reducing the debt ceiling for all WBTC vaults to zero. This move effectively prevents any new borrowing from these vaults and lowers WBTC’s loan-to-value […]

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MakerDAO, the decentralized autonomous organization behind the DeFi protocol Maker, has approved a proposal to halt new borrowing against BitGo’s wrapped Bitcoin (WBTC).

On Aug. 15, MakerDAO revealed that it was reducing the debt ceiling for all WBTC vaults to zero. This move effectively prevents any new borrowing from these vaults and lowers WBTC’s loan-to-value (LTV) ratio on SparkLend to 0%.

The protocol outlined the changes, stating:

“WBTC-A, WBTC-B, and WBTC-C have been removed from the Debt Ceiling Instant Access Module (DC-IAM). The debt ceilings for WBTC-A, WBTC-B, and WBTC-C are now set to 0 DAI.”

MakerDAO clarified that these changes will not affect existing borrowing positions within the Maker Protocol’s core WBTC vaults and SparkLend.

Etherscan data shows that two Maker’s smart contracts are among the top ten largest holders of WBTC, with more than 6,600 WBTC tokens valued at nearly $380 million.

Why MakerDAO removed WBTC

MakerDAO’s decision to remove WBTC is linked to recent community concerns over Tron founder Justin Sun’s involvement with the digital asset.

Last week, BitGo, the developer and custodian of WBTC, announced a partnership involving Sun and BiT Global to manage WBTC custody. This arrangement shifted custody from the United States to multiple jurisdictions, including Hong Kong and Singapore.

Following the news, several crypto stakeholders, including MakerDAO contributors, expressed concerns about the security of the tokens and Sun’s involvement with the project.

However, BitGo CEO Mike Belshe emphasized that Sun has no influence over the tokens and assured that the crypto entrepreneur had no access to the crypto custodian’s asset keys.

Over $30 million WBTC burned

Nevertheless, these assurances appear to have had no impact on crypto investors’ confidence.

On-chain data shows that crypto investors were reducing their exposure to WBTC by burning and redeeming their assets. According to its dashboard, approximately 575 WBTC, worth over $30 million, have been burned during the last seven days, with crypto exchange Crypto.com and Galaxy Digital leading the charge.

Meanwhile, WBTC’s rivals, like tBTC, have seen a growth in their numbers. According to the Dune Analytics dashboard, tBTC holders surpassed 1,000 during the past week, while its total supply stood at 3,107.36 tBTC as of press time, equivalent to more than $180 million.

Additionally, Coinbase has hinted at launching its own wrapped Bitcoin product soon.

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MakerDAO’s dual stablecoin solution promises to resolve longstanding trilemma https://topcryptogame.com/makerdaos-dual-stablecoin-solution-promises-to-resolve-longstanding-trilemma/ https://topcryptogame.com/makerdaos-dual-stablecoin-solution-promises-to-resolve-longstanding-trilemma/#respond Thu, 16 May 2024 13:10:47 +0000 https://topcryptogame.com/makerdaos-dual-stablecoin-solution-promises-to-resolve-longstanding-trilemma/ Rune Christensen, the founder of MakerDAO, has proposed a novel solution to the Stablecoin Trilemma. This trilemma posits that achieving a stable value pegged to the dollar, maintaining decentralization, and scaling to meet demand are mutually exclusive goals. Christensen’s solution involves a dual stablecoin framework, envisioning the evolution of Maker’s DAI stablecoin into two distinct […]

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Rune Christensen, the founder of MakerDAO, has proposed a novel solution to the Stablecoin Trilemma.

This trilemma posits that achieving a stable value pegged to the dollar, maintaining decentralization, and scaling to meet demand are mutually exclusive goals.

Christensen’s solution involves a dual stablecoin framework, envisioning the evolution of Maker’s DAI stablecoin into two distinct entitiesNewStable and PureDAI. These stablecoins will address critical aspects of the trilemma by prioritizing utility and scalability while ensuring a dollar peg and upholding pure decentralization.

According to Christensen, DAI will be fully deprecated once the ecosystem implements and adopts these solutions. However, the timeline for this transition depends on the community’s adoption speed.

NewStable

NewStable will be the primary successor to DAI, prioritizing growth, yield, and resilience. The decentralized stablecoin would be crafted with utility and adoption in mind.

According to Christensen:

“Most Dai use cases will be succeeded by NewStable, which will focus on mass market adoption and regulatorily compliant Real-World Asset (RWA) backing, with decentralization used as a powerful tool to ensure transparency, resilience, and checks and balances.”

The stablecoin will maintain a relationship with Maker and inherit Endgame’s tokenomics, growth focus, and governance framework.

Additionally, NewStable incorporates a freeze function akin to industry standards seen in other major RWA-backed stablecoins. Implementing the freeze function is anticipated to adhere to the rule of law in jurisdictions crucial for Maker’s legal recourse against RWA collateral.

This approach enhances security, stability, and reliability, bolstering NewStable’s global mass market adoption potential.

PureDai

On the other hand, PureDAI aims for total autonomy, distancing itself from centralized influence by relying on decentralized collateral.

Christensen explained:

“PureDai will feature only purely decentralized collateral such as ETH and stETH, free-floating peg like Rai, maximally decentralized oracles and no governance or budgets.”

He said this stablecoin would become available after “a few years” and would cut all enduring ties to Maker at launch.

Upon release, DAI users can seamlessly transition to PureDAI through Maker frontends. However, it would be exclusive to the Ethereum mainnet and may expand its reach through layer-2 solutions and bridges supporting cross-chain transport.

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NEXT BIG Crypto RISK | Major Optimism, Hedera, SingularityNET AGIX News! https://topcryptogame.com/next-big-crypto-risk-major-optimism-hedera-singularitynet-agix-news/ https://topcryptogame.com/next-big-crypto-risk-major-optimism-hedera-singularitynet-agix-news/#respond Mon, 31 Jul 2023 00:31:54 +0000 https://topcryptogame.com/next-big-crypto-risk-major-optimism-hedera-singularitynet-agix-news/ Bitcoin dumps below 23k after FED PCE data and could MakerDao be crypto’s next big risk? Optimism continues to rally after Coinbases BASE layer 2 announcement, and Hedera is hitting new records everyday while SingularityNET partners with Cardano. 🚀Find the most undervalued gems, up-to-date research, and NFT buys with Altcoin Buzz Access🚀 Join Altcoin Buzz […]

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Bitcoin dumps below 23k after FED PCE data and could MakerDao be crypto’s next big risk? Optimism continues to rally after Coinbases BASE layer 2 announcement, and Hedera is hitting new records everyday while SingularityNET partners with Cardano.

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0:24 BTC price dump
1:06 Optimism rallies after BASE
2:27 Hedera continues to break records everyday
3:30 Singularity NET partners with Cardano
4:14 MakerDAO a big risk to crypto?
5:25 Ethereum Shanghai brining new innovation?

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MASSIVE CRYPTO FUD! Major Ethereum, Binance, Shiba Inu, ENS News https://topcryptogame.com/massive-crypto-fud-major-ethereum-binance-shiba-inu-ens-news/ https://topcryptogame.com/massive-crypto-fud-major-ethereum-binance-shiba-inu-ens-news/#respond Wed, 10 May 2023 09:19:37 +0000 https://topcryptogame.com/massive-crypto-fud-major-ethereum-binance-shiba-inu-ens-news/ Massive crypto FUD hits the market as the U.S DOJ takes down crypto exchange Bitzlato. Ethereum gas fees are up, and layer 2’s are on a tear. Shiba inu rallies ahead of Shibarium layer 2, and Binance gets license in Poland. ENS, and Maker Dao both set out proposals for the future of the DAO’s. […]

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Massive crypto FUD hits the market as the U.S DOJ takes down crypto exchange Bitzlato. Ethereum gas fees are up, and layer 2’s are on a tear. Shiba inu rallies ahead of Shibarium layer 2, and Binance gets license in Poland. ENS, and Maker Dao both set out proposals for the future of the DAO’s.

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⏱ TIMESTAMPS
00:00 INTRO
0:23 BTC can still go up 50% before crashing
1:31 Shiba Inu takes off ahead of layer 2
2:11 Ethereum Fees raise 50%
3:12 Trader Joe plans to make JOE token have more utility
4:07 ENS Votes to liquidate 10,000 ETH
4:45 U.S DOJ takes down crypto exchange Bitzlato
6:10 Binance speaks at World Economic Forum
7:10 MakerDao votes on future of GUSD

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BINANCE $1 BN Concerns? More FTX & MetaMask DRAMA | Ethereum Polkdadot Reveal Major Updates https://topcryptogame.com/binance-1-bn-concerns-more-ftx-metamask-drama-ethereum-polkdadot-reveal-major-updates/ https://topcryptogame.com/binance-1-bn-concerns-more-ftx-metamask-drama-ethereum-polkdadot-reveal-major-updates/#respond Fri, 31 Mar 2023 18:03:06 +0000 https://topcryptogame.com/binance-1-bn-concerns-more-ftx-metamask-drama-ethereum-polkdadot-reveal-major-updates/ Binance faces Controversy over $1 Billion Dollar Insurance Fund, Sam Bankman-Fried is in the news with FTX for reasons you wouldn’t expect. Metamask receives backlash, and Ethereum & Polkadot have major updates. 🚀Find the most undervalued gems, up-to-date research, and NFT buys with Altcoin Buzz Access🚀 Join Altcoin Buzz Access Pro FOR FREE➡️ ⏱️ TIMESTAMPS […]

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Binance faces Controversy over $1 Billion Dollar Insurance Fund, Sam Bankman-Fried is in the news with FTX for reasons you wouldn’t expect. Metamask receives backlash, and Ethereum & Polkadot have major updates.

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00:00 INTRO
0:38 Metamask Backlash!
1:42 SBF in the news for FTX
3:00 Binance Controversy over $1 Bn
4:20 ETH Shanghai update
5:00 Polkadot Anit-Scam bounty
5:34 Walken continues to grow in the Bear market
5:56 MakerDAO’s RenBTC decision

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Please do your own due diligence and rating before making any investments and consult your financial advisor.Ibelieve that the information presented is correct and accurate, however, there is no guarantee or warranty as to the accuracy, timeliness, or completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

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Top 5 Coins Whales Accumulated in 2022, that will be BIG in 2023! #shorts https://topcryptogame.com/top-5-coins-whales-accumulated-in-2022-that-will-be-big-in-2023-shorts/ https://topcryptogame.com/top-5-coins-whales-accumulated-in-2022-that-will-be-big-in-2023-shorts/#respond Tue, 31 Jan 2023 03:01:30 +0000 https://topcryptogame.com/top-5-coins-whales-accumulated-in-2022-that-will-be-big-in-2023-shorts/ Here’s the Top 5 Coins Whales Accumulated in 2022, that will be BIG in 2023! ●▬▬▬▬▬▬▬▬Ongoing Offers▬▬▬▬▬▬▬▬▬● 💵ALTCOIN BUZZ + BINANCE Get Up To $600* On Sign Up + Win a Share of $1,000 Become a Top Trader and win a share of $1,000! ✅5 traders with the highest trading volume will share $750 ✅ […]

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KAVA MAINNET COMING! Future of Defi Crypto | Low Cap Gem? https://topcryptogame.com/kava-mainnet-coming-future-of-defi-crypto-low-cap-gem/ https://topcryptogame.com/kava-mainnet-coming-future-of-defi-crypto-low-cap-gem/#respond Fri, 18 Feb 2022 11:37:11 +0000 https://topcryptogame.com/kava-mainnet-coming-future-of-defi-crypto-low-cap-gem/ We cover 7 reasons why Kava could be huge! Plus 2 risk factors you need to know. Could Kava be a one-stop defi with Kava Swap? Is this the future of defi? It could be a real game changer in the defi crypto space. Kava is still a low market cap gem compared to Aave, […]

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We cover 7 reasons why Kava could be huge! Plus 2 risk factors you need to know. Could Kava be a one-stop defi with Kava Swap? Is this the future of defi? It could be a real game changer in the defi crypto space. Kava is still a low market cap gem compared to Aave, Compond and Maker DAO. Despite hitting all time highs in the last few months there could room for another 100% move. We will cover Kava crypto price prediction and technical analysis plus our own action plan.

⏱ ⏱ ⏱ TIMESTAMPS. ⏱ ⏱ ⏱

0:00 Introduction
1:52 What is Kava? Kava vs AAVE vs Maker DAO
2:03 Kava Swap explained – a “cross chain Uniswap”
2:20 #1 – Low Market Cap?
4:43 #2 – Kava Swap Cross chain effect
5:26 #3 – Track record
5:49 #4 – Kava Swap testnet
6:39 #5 – Earning opportunities for Kava users
7:17 #6 – SWAP token IEO
8:00 #7 – SWAP token supply
8:59 RISK #1 – USDX not really a stable coin
10:01 RISK #2 – No bridge between Ethereum and Kava
10:30 Kava crypto price prediction, Kava technical analysis & our action plan
11:32 Wrap up – Future One-stop Defi for crypto?

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Please do your own due diligence and rating before making any investments and consult your financial advisor. The information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

#KavaCrypto #DefiCrypto #LowCapGems

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