Bitcoin
Bitcoin (BTC)
$68,898.00 0.84811
Bitcoin price
Ethereum
Ethereum (ETH)
$3,746.96 2.23359
Ethereum price
BNB
BNB (BNB)
$601.64 0.91269
BNB price
Solana
Solana (SOL)
$167.25 0.92008
Solana price
XRP
XRP (XRP)
$0.5379830 1.38613
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000248 1.7404
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000152 7.43661
Pepe price
Bonk
Bonk (BONK)
$0.0000355 3.96839
Bonk price
Bitcoin
Bitcoin (BTC)
$68,898.00 0.84811
Bitcoin price
Ethereum
Ethereum (ETH)
$3,746.96 2.23359
Ethereum price
BNB
BNB (BNB)
$601.64 0.91269
BNB price
Solana
Solana (SOL)
$167.25 0.92008
Solana price
XRP
XRP (XRP)
$0.5379830 1.38613
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000248 1.7404
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000152 7.43661
Pepe price
Bonk
Bonk (BONK)
$0.0000355 3.96839
Bonk price
Bitcoin
Bitcoin (BTC)
$68,898.00 0.84811
Bitcoin price
Ethereum
Ethereum (ETH)
$3,746.96 2.23359
Ethereum price
BNB
BNB (BNB)
$601.64 0.91269
BNB price
Solana
Solana (SOL)
$167.25 0.92008
Solana price
XRP
XRP (XRP)
$0.5379830 1.38613
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000248 1.7404
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000152 7.43661
Pepe price
Bonk
Bonk (BONK)
$0.0000355 3.96839
Bonk price
Bitcoin
Bitcoin (BTC)
$68,898.00 0.84811
Bitcoin price
Ethereum
Ethereum (ETH)
$3,746.96 2.23359
Ethereum price
BNB
BNB (BNB)
$601.64 0.91269
BNB price
Solana
Solana (SOL)
$167.25 0.92008
Solana price
XRP
XRP (XRP)
$0.5379830 1.38613
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000248 1.7404
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000152 7.43661
Pepe price
Bonk
Bonk (BONK)
$0.0000355 3.96839
Bonk price
SirWin
SirWin
SirWin

MakerDAO wants to build its own ecosystems, analyst claims

makerdao-wants-to-build-its-own-ecosystems-analyst-claims
Edited by
News
MakerDAO wants to build its own ecosystems, analyst claims

The second-largest decentralized finance (DeFi) protocol by total value locked (TVL), MakerDAO, reportedly wants to build its ecosystem, according to a pseudonymous DeFi researcher called Ignas.

Per a Twitter thread, the analyst claims that MakerDAO, the creator of DAI stablecoin, wants to integrate the U.S. dollar-pegged crypto asset into its own protocols and platforms instead of “existing DeFi protocols.” The DeFi platform has already developed a competitor to Aave, called Spark Protocol.

https://twitter.com/DefiIgnas/status/1623531193512894466

Ignas added that MakerDAO’s plan with its DAI Savings Rate (DSR) with a 1% annual percentage yield (APY) has failed to make Aave or Compound protocols integrate the stablecoin. MakerDAO’s main reason, according to the analyst, was to make USD Coin (USDC) users migrate to DAI.

The analyst claims that MakerDAO’s plan to develop its decentralized environment comes as Aave protocol and Curve Finance are trying to create and launch their stablecoins. Per the tweet, GHO, Aave’s stable digital currency, might be a direct “competitor to DAI.”

Ignas stated that MakerDAO also wants to bring EtherDAI to the markets too. The asset, which is a liquid staking derivative (LSD) for ethereum (ETH), is the most critical element in MakerDAO’s “endgame plan to make DAI the unbiased world currency.”

Previously, the MakerDAO community started ballots to save and manage DAI in the Gemini crypto exchange’s financial crisis. The votes set the fees for DAI to GUSD swaps at zero, limiting DAI’s exposure to Gemini’s stablecoin.

In Nov. 2022, one of MakerDAO’s co-founders, Nikolai Mushegian, passed away, and the decentralized community appreciated his brilliance in developing the stablecoin and preventing massive hacks on MakerDAO.