DAI

MakerDAO moves to expand collateral assets and upgrade liquidation engine

Decentralized lending and stablecoin protocol MakerDAO has opened governance voting to allow new tokens as collateral. A number of new collateral types have been proposed for MakerDAO, potentially increasing the number of digital assets that can now be used to mint its stablecoin, DAI. Voting began on April 19 and will run for fourteen days. …

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VC Backed Billion-Dollar Stablecoin Project Fei Protocol Falls Below the USD Peg

<div class=”featured_image_container”> </div> <strong>The new decentralized finance (defi) stablecoin project called Fei had some issues this week after the 1:1 USD pegged token dropped well below its targeted $1 value. The Fei project was supposed to be similar to Maker DAO’s algorithmic DAI stablecoin and it was backed by major venture capital firms.</strong> Fei Protocol …

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Atari to Launch a Crypto-Fueled Gaming Platform in the Ethereum Metaverse Decentraland

<div class=”featured_image_container”> </div> <strong>In October 2020, the entertainment software company Atari launched a digital currency and later revealed plans to join the Ethereum virtual reality game Sandbox. On March 8, Atari announced that the company is now launching a casino in Decentraland, another metaverse built on Ethereum. According to the announcement, the firm’s gaming platform …

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‘Game changer’ for Maker and Ethereum with Optimism Dai bridge announced

The Dai stablecoin produced by decentralized lending protocol MakerDAO is getting some speed and fee enhancements with its forthcoming upgrade on layer-two. Ethereum scaling solutions provider Optimism will provide the technology as announced on the MakerDAO forum on March 9. Co-founder and CTO of gaming firm Bellwood Studios Sam MacPherson explained the “MakerDAO community will …

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DMEX Integrates xDAI for Cheap Decentralized Perpetual Contracts With up to 100x Leverage and No KYC

<div class=”featured_image_container”> </div> PRESS RELEASE. In response to rising gas prices during the last weeks, <a href=”https://xdai.dmex.app/f/eth/?utm_source=btcn”>DMEX</a> has moved its trade processing to xDAI sidechain that allows for much cheaper transaction recording. Customer funds are still stored on an Ethereum smart contract, the trade recording, however, is now performed on xDAI. This change allows users …

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Maker’s MKR Token Surges to 2-Year High on DeFi Growth

Prices for MKR, an Ethereum-based governance token, surged to their highest levels in more than two years on Wednesday. MKR was trading at $1,068.53 as of press time, up 44% in the past 24 hours. However, it was trading at $1,251.14 earlier in the day, close to its Jan. 21, 2018, record of $1,798.70. Analysts …

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What Are Stablecoins?

A “stablecoin” is a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar or gold, to stabilize the price. Cryptocurrencies such as Bitcoin and Ethereum offer a number of benefits, and one of the most fundamental is not requiring trust in an intermediary institution to send payments, which …

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Redditor memes his way to $25K in Bitcoin profits

A Reddit user by the name of Cryptorich13 has capitalized on the social media platform’s crypto reward system by converting his stash of free coins into Bitcoin (BTC).  In a Sunday post, Cryptorich13 explained how he converted his 80,000 MOON reward for Bitcoin earlier this year. The value of his holdings has ballooned following the latest …

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Terra Protocol (LUNA) rallies 66% after DeFi and stablecoin launch

Throughout 2020 a handful of new stablecoins launched and many analysts have suggested that stablecoin growth is the backbone of the crypto sector and partially responsible for the current Bitcoin rally. For many traders, stablecoins provide a safe place to shelter during volatile periods in Bitcoin and altcoins but there are other ways to interact …

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CoinShares and BNC support new high-performance DeFi derivatives exchange

Leverj, a non-custodial derivatives platform based on an Ethereum sidechain, announced on Tuesday their cooperation with leading industry participants to support the launch and marketing of its exchange. The exchange offers perpetual swaps for Bitcoin (BTC) and Ether (ETH), accepting both Tether (USDT) and Dai (DAI) as margin and settlement currencies. To achieve meaningful performance …

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