It also underscores Maker’s strategic shift, Karpatkey said, because the proposal includes hiking fees on crypto assets to take out a DAI loan. “Originally a platform for leveraged long traders, Maker now positions itself as a bridge to real-world assets yield,” said Karpatkey.The executive vote also included a slew of other proposals that influence the composition of DAI’s backing reserve assets.
The community effectively ditched Paxos Dollar from the reserve by approving a decrease in its debt ceiling to zero. The move has a substantial impact on fintech firm Paxos’ stablecoin, as Maker currently holds roughly half of USDP’s $1 billion supply.of up to $1.28 billion in U.S. Treasuries for the reserve, doubling down on giving traditional financial assets a bigger role in DAI’s reserve.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Someone Flash Loaned $200M From MakerDAO to Make $3 ProfitAn arbitrage bot took advantage of MakerDAO's DssFlash contract, creating a $200 million flash loan to extract $3 in profit. Reporting by oknightcrypto.
Source: CoinDesk - 🏆 291. / 63 Read more »
Stocks turn lower, Treasury yields jump as Fed leaves rates unchanged, signals more hikes in pipelineStocks turned lower Wednesday after the Federal Reserve, as expected, left interest rates unchanged but signaled further increases remain in the pipeline....
Source: MarketWatch - 🏆 3. / 97 Read more »
Fed keeps rates unchanged but signals 2 more potential hikes this yearThe Fed’s move to leave its benchmark rate at about 5.1%, its highest level in 16 years, suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation.
Source: AP - 🏆 728. / 51 Read more »
Fed leaves rates steady, sees two small hikes by end of 2023The Federal Reserve kept interest rates unchanged on Wednesday but signaled in new economic projections that borrowing costs will likely rise by another half of a percentage point by the end of this year.
Source: Reuters - 🏆 2. / 97 Read more »