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MakerDAO
Phoenix Labs CEO on DeFi Giant MakerDAO's Spark Protocol Launch
MakerDAO launches Spark Protocol today, a front-end access lending protocol specifically designed for Maker's DAI stablecoin. Sam MacPherson, co-founder and CEO of Phoenix Labs, which contributes to Spark Protocol, joins "First Mover" to discuss the rollout and how Spark aims to address the potential risks of decentralized finance (DeFi). Plus, why Spark is not being offered in the U.S.
Why MakerDAO's New Spark Protocol Does Not Serve U.S. Customers
MakerDAO launches Spark Protocol today, a front-end access lending protocol specifically designed for the DAI stablecoin. But, Phoenix Labs co-founder and CEO Sam MacPherson tells "First Mover," the product does not serve U.S. customers. "The risk was deemed too high [in the U.S.]," he said.
Crypto Lending Protocol MakerDAO Approves Transferring a Maximum of $500M in USDC to Coinbase Custody for 2.6% Yield
The maneuver is part of MakerDAO’s earlier decision to move up to $1.6 billion of USDC stablecoins to Coinbase’s custody arm.
Next-Generation DeFi Platform M^ZERO Exits Stealth Mode With $22.5M Funding Round
The seed capital was led by Pantera Capital and included the Scaramucci-linked SALT Fund, and Mouro Capital, the venture capital operation connected to the Santander Group.
Lending Platform MakerDAO Approves ‘Constitution,’ Moves Forward With ‘Endgame’ Plan
The proposal sets a new foundation for the largest decentralized lending protocol’s major restructuring, called “Endgame.”
Stablecoin Issuer MakerDAO Votes to Retain USDC as Primary Reserve Even After Depeg
The decision follows a turbulent period during which USDC temporarily lost its dollar peg after key banking partner SVB collapsed.
Burning USDC and Minting DAI Prove to Be Popular On-Chain Activities Amid SVB Collapse
Circle’s USDC stablecoin had nearly $3 billion in net redemptions since Friday, while the total supply of DAI increased by 1.2 billion tokens over the same time period.
MakerDAO Weighs Using Emergency Switch to Prevent Future DAI Depegging
The community proposal comes just two days after DAI followed stablecoin USDC in slipping beneath the one-dollar mark.
MakerDAO Founder Calls for Rebranding of DAI Stablecoin
Rune Christensen said on a call with community members DAI suffers from bad branding that could be slowing its growth.
Stablecoin Issuer MakerDAO Proposes Additional $750M U.S. Treasury Purchase
The decentralized autonomous organization behind the DAI token previously purchased $500 million worth of government notes and bonds.