MakerDAO

Leading decentralized exchange Uniswap has hit more than $50 billion in volume since launching in November 2018. This makes it the first DeFi platform to achieve this milestone and shows confidence in the project. This information was revealed by Uniswap founder Hayden Adams who took to Twitter to share the milestone. Adams also conducted a poll asking the crypto community to vote for when Uniswap would hit $1 trillion in cumulative volume. The vote indicated the community's bullish sentiments, as…

Traditional currency and banking systems feature several downsides as far as transacting is concerned. Cryptocurrencies present a decentralized alternative to deal with issues surrounding the two options. The introduction of DeFi was a step further in pushing the mass adoption of blockchain technology and digital currencies.  DeFi lending is on the same track, trying to bridge the void between traditional banking and all users globally without intermediaries. Now, lenders and investors can deposit, loan out, or borrow currencies in or…

Ross Ulbricht, the brains behind the infamous Silk Road website, recently penned down a piece on the Maker Dao Protocol. Ross, who is currently serving a life sentence, coined the protocol as a ‘cool concept’ that provided the benefits of a cryptocurrency without the volatility usually associated with them.  In his Medium article, Ross acknowledged that he couldn’t have gotten all the details on Maker while behind bars. He, however, believed that he had read enough to give some suggestions…

MarkerDAO has been the dominant platform in DeFi. However, recent data suggest that Compound has surpassed MarkerDAO in terms of DeFi dominance. Before the COMP distribution began last week, there was $97.7 million on Compound as against $480.5 million on MarkerDAO. However, as of June 21, Compound had $595.4 million worth of COMP tokens locked in DeFi, as against $442.8 million for MarkerDAO, according to DeFi Pulse. Last week, Compound users began earning the platform’s new governance tokens, COMP for…

More people in Latin America have shown interest in Dai over the previous several months due to the economic troubles aggravated by the coronavirus pandemic. The local news outlet iProUP reported that the trading volume of MakerDAO’s stablecoins was four times during quarantine in Argentina, as it became $20 million daily from $5 million. This shows that Latin America is moving to the Safety of Dollar-Pegged Stablecoins because of the absolute debt and hyperinflation. Hence, the people chose to deal with…

Decentralized Finance, more commonly known as DeFi, is the newest trend in the cryptocurrency sector. After "Colored Coins," Smart Contracts, and ICOs, DeFi has taken the limelight. It has opened the door to a whole new branch of decentralized technologies. Among the hundreds of projects focusing on bringing Decentralize Finance to the masses, none has been as successful as the MakerDAO Network. The Need for MakerDAO The MakerDAO is a decentralized smart contract platform on Ethereum. It is one of…

Leading Defi firm MakerDao is reeling from the recent sharp drop in ETH price. Consequently, it will pursue an MKR auction in two days to plug a $4 million debt it has incurred during the crash. MakerDAO Community Vote However, the firm has called for a March 13 community vote before going on with the planned auction. According to the announcement the vote will decide on the necessary modifications occasioned by ETH's spectacular fall out.  The $4 million under-collateralized debts…

As a malleable concept, the definition of an 'organization' has been redefined, altered, and modified based on the roles it has come to play. The concept has gone through an evolution of functionality. The definition of an Organization evolves as humans need change. Although it is affected by human needs evolution, every organization needs an infrastructure, a base to develop. Its decision-making process can characterize the Infrastructure of a particular organization. A 'traditional' organization is known to be built on…