Latest Makerdao News

  • Dai Supply Hits New Highs as Efforts to Restore Peg See Limited Success
    Dai Supply Hits New Highs as Efforts to Restore Peg See Limited Success
    The total supply for DAI tripled since June as the community keeps raising the supply limits to bring the peg down to $1. The MakerDAO community approved and executed a vote on Thursday to almost double the total debt ceiling, which indicates how much Dai (DAI) can be minted by its users. An announcement by the Maker Foundation posted on July 29 details the specific proposal to raise the debt ceilings for Ether (ETH), USD Coin (USDC), Wrapped Bitcoin (WBTC) and others. The vote passed at 8 a.m.
  • CoinDesk Live Recap: Ethereum’s DeFi Luminaries Discuss What’s Next
    CoinDesk Live Recap: Ethereum’s DeFi Luminaries Discuss What’s Next
    MakerDAO's Rune Christensen, Compound's Robert Leshner and Uniswap's Hayden Adams discussed the state of the $3.8 billion DeFi market.
  • Messari: DeFi Can Continue to Grow as ‘Useless’ Top 30 Coins Wither
    Messari: DeFi Can Continue to Grow as ‘Useless’ Top 30 Coins Wither
    With the value of funds locked in DeFi almost quadrupling in less than two months, the community is debating whether DeFi is in a bubble. Data published by crypto market analytics firm Messari on July 29 indicates that the collective capitalization of the decentralized finance (DeFi) sector is equal to only 1.5% of the entire crypto capitalization. According to Messari, the collective capitalization of every DeFi project put together is roughly $4.12 billion — less than that of the fifth-ranked crypto asset by market cap, Bitcoin Cash (BCH). Watkins also noted that “literal meme coin” Dogecoin (DOGE) boasts a larger capitalization than every DeFi project with the exception of MakerDAO (MKR). Despite the recent DeFi boom leading to claims the sector is overvalued, analyst Ryan Watkins believes the small size of the DeFi sector means it still has significant room to expand, arguing that it could benefit from a “reallocation” of capital from top 30 projects that are “useless first-gen cryptocurrencies, ghost town ‘ETH killers’, and dead projects.” “DeFi doesn’t need new money flowing into crypto to continue its rise.
  • Maker's Value Locked Breaches $1B Ceiling, but There's a Caveat
    Maker's Value Locked Breaches $1B Ceiling, but There's a Caveat
    MakerDAO posts records in value locked as yield farmers create new Dai and Ether rallies. MakerDAO (MKR), the foundational protocol of decentralized finance on Ethereum, hit a new all-time high in the total value locked in its vaults. According to data from Defipulse, the value of the collateral locked in MakerDAO vaults is now slightly above $1 billion following a steep ascent that began on July 22. Source: Defipulse.com Most of that growth is due to the powerful price rally of Ether (ETH), which is still the most used collateral asset for minting Dai (DAI).
  • MakerDAO Passes $1 Billion Milestone in DeFi First
    MakerDAO Passes $1 Billion Milestone in DeFi First
    The total value of ether locked in DeFi's oldest project has surpassed $1 billion for the first time.
  • 'A New Class of Attack' In Crypto Is 'Actively Exploited' - Research
    'A New Class of Attack' In Crypto Is 'Actively Exploited' - Research
    The crypto market went through one of its wildest rides with the March market crash, among other events seeing a so-called "zero-bid" attack on MakerDAO, a decentralized lending facility built on the Ethereum (ETH) blockchain and the creator of the DAI stablecoin.
  • Mempool Manipulation Enabled Theft of $8M in MakerDAO Collateral on Black Thursday: Report
    Mempool Manipulation Enabled Theft of $8M in MakerDAO Collateral on Black Thursday: Report
    New research suggests March’s “Black Swan” event for Ethereum may have been a sophisticated plan to cash in on a global sell-off.
  • DeFi Earnings Fell 42% in Q2 Even as Token Prices Surged
    DeFi Earnings Fell 42% in Q2 Even as Token Prices Surged
    DeFi earnings fell in Q2 as MakerDAO dropped the savings rate and Synthetix began reporting its actual earnings. The DeFi industry may be booming this year, but a new report shows earnings have fallen despite a huge surge in token prices. The second quarter token report from Bankless, a DeFi focused newsletter from Mythos Capital founder, Ryan Sean Adams, revealed that earnings fell by 42% in the second quarter, from $5.5 million in Q1 down to $3.9 million in Q2.
  • Users Surge but Just Five DeFi Projects Account For 94% of Locked Funds
    Users Surge but Just Five DeFi Projects Account For 94% of Locked Funds
    DeFi’s surging popularity has seen the sector grow to comprise 240,000 users and more than $2 billion in value. The total number of users engaged with decentralized finance (DeFi) protocols has increased by more than 140%, since exceeding six-figures for the first time in January. According to data published by Dune Analytics, the total number of DeFi users was just shy of 240,000 as of July 6 — increasing by more than 20% in the past month. The total value of capital locked up in DeFi protocols has also exceeded $2 billion just six months after breaking above $1 billion for the first time. Despite the surge in users, five projects account for the vast majority — roughly 94% — of capital locked up in DeFi DeFi users proliferate According to Dune Analytics, Uniswap and Kyber Network comprise the top DeFi pools by total number of users, having attracted more than 92,000 and 82,000 respective users in less than two years of operation.  While Kyber has grown by more than 130% this year, Uniswap has nearly quadrupled its user base since January. Compound also saw a significant spike over the past month, posting a 35% increase from 30,000 users to more than 40,000 over the past 30 days. Smaller projects have also seen exponential growth over the past month, with Balancer growing nearly 400%, from 1,700 to 8,350, and Curve increasing 160%, from nearly 2,200 to 5,700.  Over $2B now locked in DeFi The recent rush of new DeFi users has significantly expanded the sum of capital locked up in DeFi projects. Hype surrounding the recent launch of Compound’s governance token COMP has seen the protocol overtake MakerDAO (MKR) as the top DeFi project by locked assets with $673.4 million, according to DeFi Pulse. Maker ranks second with $604.3 million, followed by Synthetix with $333 million, Balancer with $158.8 million, and Aave with $155.8 million. Between them these five projects account for 94% of the total funds locked in DeFi.