Maker coin, the native token of the decentralized lending platform, MakerDAO, is going through a transformative period. Maker price had a risk of dropping to $1200 due to the major rebranding to
SKY. However, Maker whales have accumulated $6 million MKR amid a 6% price jump.
MakerDAO, aligned with the trend of transitioning protocols towards full decentralization, is now preparing for its 'endgame' and aims to circulate 100 billion DAI to rival Tether.
Grayscale, an asset manager, introduced a crypto fund for MKR, and there has been an MT report of its interest to participate in MakerDAO's 'Grand Prix'. Despite these advancements, the SKY rebranding raised some ire and criticism from the DeFi community, primarily due to the controversial change in the stablecoin.
Rune Christensen, the MakerDAO founder, explains his intentions to remake the platform and phase out DAI. While pitched to bring about a better crypto-economic mechanism, the new stablecoin of Sky has been heavily criticized for its 'freeze function'. This takes into account
MakerDAO's upcoming launch of a fully decentralized stablecoin and its historic $1.35M security audit contest in collaboration with Sherlock. However,
MakerDAO reported an incident of $11M in tokens being stolen in a phishing scam, with hack victims still waiting for reimbursement three years later.
Maker Coin News Analytics from Mon, 23 Oct 2023 07:00:00 GMT to Wed, 18 Sep 2024 16:10:22 GMT -
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