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In the midst of the chaos that is presently plaguing the crypto market over the past twenty-four hours — with the USDC stablecoin depegging and concerns over the extent to which this will affect other cryptocurrencies — MakerDAO has devised an emergency plan to protect its native stablecoin, DAI, from further exposure to potentially unstable The post Will MakerDAO's New Plan Save DAI From Becoming Another UST? appeared first on CoinGape.

MakerDAO's decentralized stablecoin hits an all-time low of 0.88 cents.

MakerDAO's founder, Rune Christensen, has suggested that the decentralized protocol should rebrand its flagship stablecoin, DAI, to make it more understandable for everyday users.

Rune Christensen said DAI suffers from bad branding that could be slowing its growth on a call with community members.

MakerDAO, one of the crypto world's oldest and largest DeFi protocols, has proposed a controversial change that would allow users to borrow its DAI stablecoin against its MKR governance token.

MakerDAO's surprise proposal could allow borrowing DAI with MKR tokens. LUNA's demise taught big lessons.

Messari, in a 22 February tweet, announced the launch of MakerDAO's new vertically integrated market, called Sparks Lend. The market will primarily be aimed at improving DAI adoption.

The USD Coin was developed by the Centre consortium founded by Circle, a peer-to-peer payments company based in Boston, Massachusetts.

Collaboration between blockchain networks or WEB 3 projects often yields interesting results. MakerDAO is the latest crypto project to walk down this road courtesy of its new collaboration with Chainlink.

Cryptocurrency lending platform MakerDAO has integrated Chainlink Automation to stabilize the value of its stablecoin, DAI – a decentralized digital asset pegged to the USD. Chainlink shared the announcement in a press release on Thursday.

Integrating Chainlink Automation will allow third-party actors to perform essential and automated duties of Maker Protocol.

MakerDAO has added Chainlink's oracle to its technology stack for maintaining the stability of its DAI stablecoin.

Chainlink Automation will run specific tasks, including price updates and liquidity balancing, to help maintain the stability of Maker's $5 billion DAI stablecoin.

The proposed Spark Protocol will leverage Maker's DAI stablecoin and its crypto assets for liquidity, and would be based on the Aave v3 smart contract system.

Leading on-chain data vendor IntoTheBlock shares inspiring 'reversal' statistics for cryptocurrency bulls

Many investors are being saved by stablecoins from the almost inevitable volatility of the cryptocurrency market. Investors buy stable coins every day because they provide better security against cryptocurrency volatility.

Paxos has proposed a partnership with MakerDAO that will essentially increase the Paxos dollar (USDP) backing for the DAI stablecoin issued by the Maker protocol.

The MakerDAO community voted in favor of keeping Gemini USD stablecoin as part of the protocol's DAI stablecoin reserves amid concerns about insolvency.

In a dramatically tight voting, some 51% of votes favored ousting Gemini's stablecoin from MakerDAO's reserve. The result is a significant blow to GUSD, as MakerDAO has held 85% of all tokens in circulation.

Decentralized finance giant MakerDAO's community has commenced governance polls on how best to manage the minting of DAI using GUSD, given Gemini's financial crisis.

MakerDAO has begun the process that could see the protocol limit the DAI's exposure to Gemini's stablecoin. The post MakerDAO voting to limit DAI exposure to Gemini amid insolvency fears appeared first on The Block.

France-based multinational financial services giant Société Générale has withdrawn $7 million in the cryptocurrency-backed stablecoin DAI from MakerDAO, out of a vault that has a debt ceiling of $30 million in DAI.

In August, MakerDAO added the bank's digital asset-focused subsidiary, Societe Generale–Forge, to its vaults with a credit limit of $30 million in DAI after a unanimous vote

Hackers have made off with more than $8 million worth of Ethereum (ETH), Binance Coin (BNB), Tether (USDT), and Dai (DAI) after exploiting the Web3 crypto wallet BitKeep. The blockchain security firm PeckShield reveals that the bad actors stole approximately 4,373 BNB, 5.4 million USDT, 196,000 DAI and 1,233.21 ETH.