Blockchain developer Nikolai Muchgian drowned on a beach in Puerto Rico, local media reported. According to the report, the 29-year-old died while swimming at the Condado beach, and his body has been recovered. He was a resident of San Juan until his demise. Muchgian is the co-founder of Balancer Labs and worked on MakerDAO. He…
MakerDAO’s (MKR) Endgame proposal was overwhelmingly passed by the community, with around 80% of the votes in support. The endgame proposal The proposal was submitted by MakerDAO founder Rune Christensen and focused on breaking the decentralized protocol into smaller units called MetaDAOs which would be more decentralized. With over $8 billion in assets in its…
Coinbase has submitted a proposal that could see MakerDAO (MKR) earn up to $24 million annually if passed. According to the proposal, MakerDAO will transfer 33% of its $1.6 billion Peg Stability Module (PSM) — roughly $528 million — into a Coinbase Prime custody account to earn a 1.5% annual yield on savings. PSM is a…
MakerDAO (MKR) founder Rune Christensen has asked DAO members to consider converting its $3.5 billion USDC reserves to Ethereum (ETH) because of the extent of the Tornado Cash sanctions. MakerDAO is considering a $3.5 billion ETH market buy, converting all USDC from the peg stability module into ETH. — banteg (@bantg) August 11, 2022 Christensen…
DeFi protocol MakerDAO (MKR) has identified seven risks its protocol faces if Ethereum (ETH) is forked. Futures backwardation and negative funding According to the protocol, the first risk it faces is future backwardation and negative funding. In this case, while spot ETH will get forked PoW tokens, those exposed to ETH perpetual contracts and quarterly…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! MakerDAO has announced the removal of the leading lending platform, Aave, as one of those with direct deposit module (D3M) access to its lending pool. The decentralized organization has decided to protect its protocol in case the ongoing Celsius crisis affects the…