Sputtering MakerDAO is no longer the world’s largest decentralized finance protocol after being overtaken by Compound, figures from DeFi Pulse show.
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MakerDAO bringing Bitcoin to Ethereum blockchain
It’s hoped the addition of ‘wrapped Bitcoin’ will give the DeFi sector a much-needed boost, but bridging the two blockchains is fiddly to say the least; tBTC pitched as a better alternative
Wrapped Bitcoin—an ERC-20 token that is backed on a 1:1 basis with BTC—is now being accepted as collateral for MakerDAO loans. It’s a significant development, not least because the crypto community has lamented the lack of a bridge between BTC and ETH for some time.
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MakerDAO lawsuit seeks $28 million over ‘Black Thursday’ losses
A scathing court document alleges that the Maker Foundation ‘misrepresented the actual risks’ that borrowers faced in the event of a sudden price drop
It was only a matter of time until the MakerDAO lawsuit appeared. On April 14 the Maker Foundation was hit with a $28 million class action suit after the “Black Thursday” crypto crash last month at exposed fundamental flaws in its decentralized lending platform.
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The Maker Foundation may not be around in a few years, founder Rune Christensen hopes (Photo: MakerDAO/YouTube at DevconV)‘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.
