MakerDAO Presents Crypto Endgame, This Is What We Know

MakerDAO, one of the first decentralized finance (DeFi) Protocols built and established in the Ethereum blockchain, plans to launch Spark Lend (SL), a lending market focused on “liquid, decentralized, and high market cap assets.

Timeline of Maker

Dai [DAI] is among the front-runners in the stable cryptocurrency market. By market capitalization, CoinMarketCap places it as the fourth-largest stablecoin and the seventeenth-largest cryptocurrency overall.

MakerDAO, through its Governance Facilitator(s) and Starknet Engineering and Protocol Engineering Core Units, has proposed to redeploy its Teleport Layer 2 (L2) Gateways as part of several changes to be implemented to the DeFi protocol.

Key Points: MakerDAO's revenue has dropped dramatically in 2022, with the decision to switch to real assets being the protocol's primary source of income. According to the study, MarkerDAO overall income fell by 42% from 112 million DAI ($112 million) in 2021 to 65 million DAI in 2022.

With “scientific sustainability” as a core principle, the Maker Constitution is to play an active role in combating climate change by allocating $14 million worth of MKR tokens to its Scientific Sustainability Fund.

In a new proposal, the Open Market Committee of leading decentralized finance platform (DeFi) MakerDAO has sought community approval to increase the maximum debt ceiling on its Compound DAI Direct Deposit Module (Compound V2 D3M) by 300% and to set the Target Available Debt on the same vault to 5 million DAI.

Decentralized Finance protocol and builders of DAI, MakerDAO [MKR] have been involved in burning its tokens as part of its tokenomics strategy. This fascinating activity has been happening since 2018.

The MakerDAO community has approved a proposal to deploy around $100 million worth of USDC into Yearn Finance.  The decision to deposit the funds on Yearn Finance will allow MakerDAO to earn an annual yield of around 2% on the stablecoin deposits.

In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle's USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.” The proposal, submitted on January 9, aims to look for a way MakerDAO could split its treasury allocations and earn yield.

After its proposal in November to deploy $100 USD Coin [USDC] into the Yearn Finance [YFI] DeFi protocol, MakerDAO [MKR] finally approved it. Details from the poll showed that 71.56% of the MKR community voted in favor of the proposition, while 28.44% preferred to say no to the “Yearn to earn Yield” proposal.

Paxos, the company that issues Stablecoins, has come forward with a new proposal in which it suggests the payout of monthly marketing fees to MakerDAO, the top decentralized finance (DeFi) protocol, to boost the use of its Pax dollar (USDP).