MakerDAO's WSTETH Vaults See Surge in Interest and Adoption, Surpassing ETH as Primary Collateral for DAI Generation
MakerDAO's wstETH has seen a surge of interest in its vaults, with the WSTETH-B vault holding an impressive 309 million DAI and the WSTETH-A vault accumulating 221 million DAI. The RETH-A vault also recorded a substantial amount, with 21 million DAI.
The Gnosis Community Initiated a Proposal To Deploy the Spark Protocol on the Chain
Gnosis treasury manager Karpatkey initiated a community proposal in MakerDAO, proposing to launch MakerDAO’s lending agreement Spark Protocol on Gnosis Chain. Gnosis Pay will launch this month, allowing the issuance of credit cards.
MakerDAO Has Deployed the MKR Buy Contract On-Chain
MakerDAO has deployed the MKR buy contract on the chain. Previously, MakerDAO’s new proposal proposed to set the treasury cap at 50 million DAI, buy MKR for the excess, and set up LPs on Uniswap to increase liquidity.
MakerDAO: Lending Protocol Spark Protocol Will Expand to Multi-Chain
July 5 (Cointime) - MakerDAO is promoting the development of the Spark protocol to multi-chain, and is ready for deployment in different fields. Users can submit information on the Maker Forum about deploying the Spark protocol in a specific field, including background, technology, and collateral. Evaluation results will be provided to MKR holders for decision making.
MakerDAO Released a Smart Burning Engine Proposal, Changing the Upper Limit of 250 Million in the Treasury to 50 Million DAI, and the Part That Exceeds the Upper Limit Will Buy MKR
July 3 (Cointime) - The MakerDAO risk core unit team recently released the proposal "Introduction to Smart Burn Engine and Initial Parameters" in the community. Allocate excess Dai in the reserved Surplus Buffer (surplus buffer). The difference between the smart burn engine and the previous burn design is that MKR tokens will be accumulated in the form of Uniswap V2 LP tokens instead of being acquired and burned. Additionally, Surplus Auctions (Flaps) will be replaced by Dss Flappers contracts.
MakerDAO Purchases Over $700 Million in U.S. Treasury Bonds to Increase Exposure to Low-Risk Assets
June 21 (Cointime) - MakerDAO, the organization behind the DAI stablecoin, has purchased over $700 million in U.S. Treasury bonds, bringing their total bond holdings to $1.2 billion.
MakerDAO: DAI Deposit Rate to be Raised from 1% to 3.49%
June 16 (Cointime) -MakerDAO officially announced that the Dai Savings Rate (DSR) will be raised from 1% to 3.49% at 22:00 on June 19th Beijing time.
MakerDAO Approves Hike in Reward for Holding DAI Stablecoin and Reshuffles Reserve Assets
June 16 (Cointime) - MakerDAO, a decentralized finance platform and stablecoin issuer, has approved a proposal to increase the DAI Savings Rate (DSR) to 3.49% from 1%, providing additional incentive for investors to hold and lend DAI instead of rival stablecoins.
MakerDAO's Annualized Fee Revenue Hits $94.87 Million, Thanks to Interest Income from U.S. Treasury Bonds
Maker's MKR token saw a 2.8% surge in the last 24 hours, while its TVL fell by 15.8% over the last month. MakerDAO achieved a significant milestone as its annualized fee revenue hit $94.87 million, the highest since mid-February 2022. The surge in revenue was attributed to interest income earned from U.S. Treasury bonds purchased using the protocol's Peg Stability Module (PSM) USDC. Despite the positive news, concerns remain as Maker's TVL experienced the highest monthly drop among the top 10 DeFi platforms, according to DeFiLlama. MKR tokenholders use the fee revenue to fund the protocol's operational costs and buy and burn MKR tokens to dilute the supply.
MakerDAO Community Votes on Proposal to Decrease GUSD Stablecoin Reserves by $390 Million
June 15 (Cointime) - MakerDAO, a decentralized finance (DeFi) lending platform and stablecoin issuer, is considering reducing its holding of Gemini's GUSD stablecoin from $500 million to $110 million in its DAI stablecoin reserve.
