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…
Aave has voted to suspend Ethereum borrowing ahead of The Merge in a vote that received a 77.87% majority in favor. The governance proposal stated, “A proposal to pause ETH borrowing in the period leading up to the Ethereum Merge… Ahead of the Ethereum Merge, the Aave protocol faces the risk of high utilization in…
DeFi protocol Aave has requested its token holders to participate in an Aave Request for Comment (ARC), requiring them to commit to Ethereum’s (ETH) POS merge. Aave Companies have proposed this ARC that calls for the Aave DAO to commit to selecting the Ethereum Mainnet running under the Proof of Stake consensus https://t.co/eDGwjLFKz7 — Aave…
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…
Shapeshift CEO and founder Erik Voorhees recommended the MakerDAO community take precautionary measures after the U.S. Treasury sanctioned Tornado Cash. Specifically, Voorhees advised MakerDAO users to remove their USDC collateral and convert the funds into another stablecoin. But he stopped short of advocating a more censorship-resistant choice. Dear @MakerDAO $DAI community… you should start unwinding…
Crypto entrepreneurs think the need for crypto-native messaging platforms is increasing daily as the number of crypto users increases. Crypto is increasingly being used for things other than trading with an exchange. As DAOs and NFTs spread, the need to communicate through a blockchain-based, wallet-connected platform also increases. Prominent entrepreneur Elad Gil commented on the…
Managing editor of Bloomberg Crypto, Stacy Marie Ishmael, and her guests, Bloomberg reporter Emily Nicolle and Ph.D. student Florence Smith Nicholls talked about online identities and the emergence of SimpDAOs as a way to monetize them in a recent episode of the Bloomberg Crypto podcast. Ishmael stressed the importance of the subject by saying: “Experimenting…
Aave Companies, the firm behind decentralized finance (DeFi) protocol Aave, introduced a proposal to create a native decentralized USD-pegged stablecoin GHO on July 7. The proposal is up for discussion and needs to pass the governance vote to be implemented. If the community accepts the proposal, Aave users will be able to mint GHO by…
The Wonderland community has agreed to buy $25 million of Sifu Vision tokens. This is coming months after Sifu was forced to quit his role as Wonderland’s treasury manager over his criminal past. The DeFi protocol passed the governance proposal to invest in Sifu Vision with 89% of the votes. What will follow is an…
On June 9th, London’s first decentralized crypto community coworking hub welcomed its first season of web3 entrepreneurs to its new flagship venue. The coworking group—which goes by the name ThursDAO—is on a mission to build a web3 community hub that can be used as a resource by the city’s many crypto community organizers. The first…