DAI Coin, a popular stablecoin in the crypto market, has been the focus of some major developments. The coin was the subject of a major scam, where $9.3M was returned to a victim. Amid political uncertainty, both
DAI and Solana (SOL) undergo market pressure. Meanwhile, the coin's market cap hit $5.35 billion. In other news,
DAI's parent company MakerDAO reveals plans to replace DAI with PureDai, a decentralized stablecoin. This move indicates that DAI is moving towards decentralization - a significant step for the crypto currency. Furthermore, MakerDAO plans to back $1B worth of DAI with Ethena Labs' USDe despite pushbacks. The program named 'Endgame', aims to transform MakerDAO's lending platform as a means to boost DAI's supply. In broader market trends, Ethereum broke a monthly stablecoin volume record. At the same time, there are signs of growing strains between MakerDAO and Aave over DAI's potential risk to the DeFi sector. In response to this, Aave has tabled a proposal to counter MakerDAO DAI expansion risk. In the market, there has been a spike in the traded volume of stablecoins, with DAI's transaction volumes hitting a record $240B. With these trends in view, MakerDAO's founder, Rune Christensen, has stated plans to remake MakerDAO and 'kill' DAI.
DAI Coin News Analytics from Thu, 26 Aug 2021 23:34:18 GMT to Wed, 17 Jul 2024 11:39:23 GMT -
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