Stablecoin, an important aspect of the cryptocurrency industry, is being refreshed with an updated guide in 2025.
MakerDAO, a recognized name in the stablecoin space, has undergone a rebranding, now called
Sky. These changes include making its DAI stablecoin upgradeable to USDS. The rebranding and upgrade have seen remarkable traction, amassing $490m in just five days. Alongside this, the Sky team provides a new governance token and
Maker now possesses remote freezing capabilities on its stablecoin, USDS. On the other hand, AaveDAO is debating on collateral implications on DAI Price while Sky discloses plans to offer optional MKR conversions for the new token. Notably,
Ethereum's price hike has been influenced by ETH-based coins like DAI, Uniswap, and Cutoshi but Ethereum Foundation sold 100ETH for a total of 334K DAI. The launch of a fund by
Grayscale to invest in MakerDAO tokens has also caught attention.
Despite the positive developments, criticism and controversy have emerged from the DeFi community regarding the change in the stablecoin. Scammer-related issues faced by
DAI holders are also under the spotlight. Looking ahead, MakerDAO reveals plans for ambitious endgame expansions and its founder speaks of launching a decentralized 'PureDai' in the near future. Amid all these changes, mainStay cryptocurrency exchange, Coinbase, has delisted DAI along with other stablecoins including USDT, PAX, and PYUSD. By contrast, the Japanese cryptocurrency exchange bitFlyer has listed DAI for the first time. Lastly,
MakerDAO seems ready to drop the Sky brand given the backlash, signaling possible reversion to the original brand.
DAI Coin News Analytics from Wed, 20 Nov 2019 13:08:27 GMT to Wed, 08 Jan 2025 08:00:00 GMT -
Rating -2
- Innovation 6
- Information 8
- Rumor 4
