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.
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Funding for crypto and blockchain projects fell 30% last year, report finds
It isn’t all bad news, according to CBInsights. Projects haven’t dried up entirely, it’s just that each of them is receiving less financing on average
The CBInsights’ Blockchain Report 2020 reveals that, despite the substantial decline in funding dollars, the number of deals backed by venture capital firms was relatively steady—falling just 2% year on year. To cut a long story short, projects haven’t dried up entirely… it’s just that each of them is receiving less financing on average.
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Black Tuesday had much better visuals than Black Thursday, especially on the floor of the NYSE (Photo: Wikimedia Commons).Huobi DM putting brakes on margin calls
The new feature should slow or stop borrowers’ assets being automatically liquidated after sudden price crashes, which can cause “extensive user losses”
Derivatives trading platform Huobi DM has announced a new feature designed to “minimize user exposure during times of severe market volatility” in digital assets. Its solution is to unveil a new mechanism that performs liquidation gradually.
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DAI another day: USDC can be used as collateral at embattled MakerDAO
Coinbase and Circle’s USDC stablecoin is now being accepted to back loans, raising questions of centralization at the ‘pure’ DeFi coin
A major reservation with accepting USDC as collateral lied in how the stablecoin is centralized. This is a significant departure from Maker’s stance of ensuring DAI is only backed by decentralized assets—as USDC is the brainchild of Coinbase and Circle, major players in the crypto industry. As MakerDAO’s (now out of date) white paper noted: “Unlike other Stablecoins, DAI is completely decentralized.”
