DAI supply has fallen by 13% this week


In the past week, MakerDAO has experienced a drop in total value locked (TVL), the supply of DAI, and annualized fee income, signaling some potential trouble for one of the world's largest stablecoin issuers.

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Timeline of Multi-collateral-dai

DAI was flawed from the beginning says DeFi founder - Crypto news

Andrey Shevchenko — the founder of decentralized finance (DeFi) protocol Zircon Finance — shared his view that MakerDAO's (MKR) so-called "decentralized stablecoin" DAI's (DAI) introduction of USD Coin (USDC) as collateral was an attempt to plug a hole in a flawed system.

In the Wake of Bank Collapses, Are Stablecoins Really That Stable? - BeInCrypto

The cryptocurrency market has been rattled by the recent collapse of SVB and the subsequent depegging of stablecoins. This incident has highlighted the need for greater transparency and accountability from stablecoin issuers and the importance of regulatory oversight in ensuring the stability of the cryptocurrency market.

Fresh loan attack on Euler Finance leads to largest crypto hack of 2023, millions in DAI and stETH stolen - Cryptopolitan

On March 13, a flash loan attack on the Ethereum-based noncustodial lending protocol Euler finance resulted in an estimated loss of $196 million worth of Dai (DAI), staked Ether (StETH), and wrapped Bitcoin (WBTC). However, this marks the biggest hack of 2023 to date.

Crypto Platform Huobi Exchanged $100,000,000 USDC for DAI During Stablecoin Depegging Scare: On-Chain Data - The Daily Hodl

Crypto exchange Huobi converted $100 million worth of USD Coin (USDC) to Dai (DAI) as uncertainty spread in the stablecoin market this weekend, on-chain data shows. According to blockchain tracking firm Lookonchain, Huobi made the large transaction early on Saturday morning.

Will MakerDAO's New Plan Save DAI From Becoming Another UST? - Coingape

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 Votes to Keep Gemini USD in DAI Stablecoin's Reserves - Coindesk

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.

MakerDAO voting to limit DAI exposure to Gemini amid insolvency fears - The Block

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.

Financial Giant Société GénÉrale Withdraws $7 Million in DAI From MakerDAO Vault - CryptoGlobe

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.

The latest proposal from MakerDAO could have this impact on DAI - AMBCrypto

MakerDAO voted to implement the DSR that would see DAI holders get 1% of their investments DAI, currently the fourth largest stablecoin, witnessed a decline in volume over the last 24 hours MakerDAO, the governance division of Maker, the company that issues DAI, recently voted on the addition of interest rates in a proposal on 28

MakerDAO delegates approve GnosisDAO token as DAI collateral - The Block

GnosisDAO's GNO token is now one step away from being an approved collateral for minting the DAI stablecoin on MakerDAO. The post MakerDAO delegates approve GnosisDAO token as DAI collateral appeared first on The Block.

Bitcoin Bitcoin
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