MakerDAO, a major player in the decentralized finance (DeFI) space, has
rebranded to Sky. It has introduced
USDS, a new stablecoin which is an upgradeable option for the existing
DAI Coin. However, the sudden change and the ability to remotely freeze the new USDS stablecoin has drawn criticism from the deFi community.
MakerDAO also plans to release
PureDai, a fully decentralized stablecoin, to replace DAI Coin eventually. DAI has faced some threats such as a whale losing over $55 million worth of the stablecoin to a phishing attack, which was partially returned by the scammer. In response to
MakerDAO's actions and DAI's risk growth, Aave has launched a proposal to counteract potential expansion risks. Meanwhile, cryptocurrency service provider
Uphold plans on terminating support for DAI Coin and a few other stablecoins in light of the forthcoming Markets in Crypto-assets (MiCA) regulations. The DeFi lending protocol also unveiled revamped governance tokens amid its ongoing transformations.
Despite controversies, the demand for
DAI is high. Recent reports highilght that it broke its monthly transaction volume record in April, and accumulated a historic $240 billion in on-chain transaction volume in just a week. Accompanying these,
MakerDAO (Sky) and Sherlock have also entered a partnership for a $1.35M security audit contest. To further its market presence, toyko-based cryptocurrency exchange,
bitFlyer, listed DAI as its first stablecoin and the crypto lender also increased DAI's debt ceiling to $1 billion. Amid these changes, DAI's high-potential trading platforms and investing features are looked at favorably by investors.
DAI Coin News Analytics from Tue, 28 Nov 2023 08:00:00 GMT to Mon, 07 Oct 2024 07:00:00 GMT -
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- Innovation -3
- Information 4
- Rumor -4
