• Maker Foundation to dissolve
    Alt coins

    ‘Completely pointless’ Maker Foundation to dissolve

    New proposals seek to turn MakerDAO into a truly decentralized, self-sustaining organization, ending a vicious cycle of ‘urgency, apathy, distraction, and denial’

    MakerDAO founder Rune Christensen unveiled proposals yesterday that will effectively cause what he believes has become a “completely pointless” Maker Foundation to dissolve over the next few years, allowing the decentralized autonomous organization live up to its name.

  • Huobi Perpetual swaps ‘exploit market volatility’
    Bitcoin

    Huobi perpetual swaps ‘exploit market volatility’

    Huobi DM pitches new perpetual swaps futures contracts as a way to profit from extreme price swings

    In the wake of Black Thursday, Huobi Group’s derivatives platform launched a perpetual swaps product it says can help cryptocurrency traders profit from market volatility, and also hedge against it.

  • Full MakerDAO decentralization
    Ethereum,  People,  Technology

    Full MakerDAO decentralization moves closer

    The Maker Foundation took a big step toward relinquishing authority over the DeFi lending platform by turning full control of the MKR governance token over to holders

    The Maker Foundation's decentralization announcement came hot on the heels of a post-Black Thursday debt crisis that threatened to force an emergency shutdown of the MakerDAO decentralized lending platform. That was resolved a day earlier by a reverse auction following a series of votes by MKR token holders.

  • MakerDAO debt auction
    Cryptocurrencies,  Ethereum,  Technology

    MakerDAO debt auction achieves its goal, late bidders reap reward

    Bad debt worth millions of dollars has been covered through the debt auction, but compensating people wiped out by 0 dai bids is still being debated

    MakerDAO has nearly wrapped up its first-ever debt auction—an event designed to cover millions of dollars in bad debt triggered by the ether flash crash on March 12. It seems that those who participated in the debt auction early got a bad deal compared with those who waited to take part later.