Search Results for: MakerDAO

“Friend.tech, a Twitter-associated blockchain application recently outperformed several large-scale projects by marking a revenue of $840,889 over a 24-hour cycle. Within 30 days post-launch, its cumulative revenue ascended to $2.95 million. The app tokenizes crypto personalities on Twitter, enabling users to buy and sell ‘shares’ of these individuals.”

“Asset tokenization firm Securitize has acquired a digital asset wealth platform, Onramp Invest, intending to enable registered investment advisors to buy digital tokens. However, growing concerns around risk underscore the need for caution in the decentralised finance (DeFi) world.”

Decentralized finance protocol, Maker, has seen its annualized revenue peak at over $165 million. Meanwhile, the pool of DAI, a stablecoin issued by MakerDAO, surged to a 5-month peak of 5.35 billion. The growth is attributed to an enticing 8% annual deposit rate, drawing in users such as Tron founder, Justin Sun.

“The Global Systematically Important Protocol (G-SIP), inspired by traditional banking, offers a benchmark for identifying and measuring potential systemic risk in DeFi institutions. This tool could prove crucial in preventing market crashes, demonstrating both the potential and inherent risks within decentralized finance and the blockchain universe.”

Gnosis is pioneering the integration of decentralized payment systems with conventional channels, launching products allowing users to spend their digital assets from wallets via Visa’s system. Gnosis Pay and Gnosis Card, a self-funded Visa debit card connected to an on-chain wallet, aim to simplify the movement of crypto-assets and reinforce the Gnosis blockchain ecosystem.

“Decentralized Peer-to-Peer lending platforms like Aave, Compound, MakerDAO, dYdX, and Fulcrum transform the traditional lending system. Leveraging blockchain technology for operations, they offer flexible terms and competitive returns, fostering transparency and independence from traditional banks.”

An arbitrage bot made complex moves using Ethereum blockchain, taking a $200 million flash loan while only profiting $3.24. The transaction involved borrowing DAI from MakerDAO, trading Wrapped Ether, and purchasing Threshold Network tokens, showcasing the pursuit of profit in crypto trading.

An arbitrage bot recently flash loaned $200 million in DAI stablecoin from MakerDAO, gaining a small $3.24 profit after fees. This highlights the ongoing debate in the crypto community regarding flash loans’ efficiency versus their potential security risks and misuse.

Raft’s new U.S. dollar stablecoin R, backed by Lido’s staked ether (stETH), introduces a unique offering in the crypto world. With a focus on avoiding inherent risks associated with fiat assets as collateral, Raft’s stablecoin aims to attract large players in the liquid staking ecosystem and withstand ongoing regulatory pressures.

In a bet from five years ago, Ethereum co-founder Joe Lubin needed to prove that five or more Ethereum-based dapps would maintain significant user activity. Blockchain data firms claim five dapps met these usage levels, but there is debate over qualification. The evolving landscape of cryptocurrency applications will continue to shape the industry, driven by innovative thinking and adoption potential.

MakerDAO’s DAI stablecoin has reduced its USDC backing from 50% to 23.6%, increasing diversification in its backing assets. As dependency on USDC decreases, DAI’s backing now includes more significant real-world assets, such as U.S. government bonds and stablecoins like GUSD and USDP.

Atlendis, an uncollateralized lending platform, introduces new features and a crypto on-ramp to revolutionize access to decentralized finance (DeFi) and boost liquidity. Unlike traditional overcollateralized loans, Atlendis streamlines borrowing, partnering with Credora for creditworthiness checks and offering a Know-Your-Customer option for pool compliance.

The Ethereum network recently faced two performance issues within 24 hours that temporarily halted block finalization. Though the network recovered, concerns about its reliability resurface, potentially affecting market confidence and Ethereum’s role in the $27 billion total value locked across various financial infrastructures and applications.

Curve Finance recently minted over $22 million of its algorithmic stablecoin, crvUSD, signifying progress towards deployment. Despite competition from other DeFi protocols and concerns following Terra USD’s collapse, Curve Finance aims to differentiate crvUSD as a collateralized-debt-position stablecoin, similar to MakerDAO’s DAI. The integration into DeFi’s user interface remains pending before full release.

The decentralized finance world celebrates the successful launch of CurveDAO’s algorithmic stablecoin, crvUSD, with over $22 million minted. Curve’s crvUSD aims to avoid previous pitfalls experienced by other algorithmic stablecoins, potentially reshaping the DeFi ecosystem if successful.