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Sky co-founder proposes no new emissions for core token

Rune Christensen proposed a deflationary model for Sky, halting token emissions and aligning with MakerDAO’s original supply reduction vision.

Rune Christensen, the co-founder of Sky (formerly MakerDAO), said he is preparing a proposal for “strictly deflationary tokenomics” to halt token emissions and decrease total supply.

Christensen aims to prevent token emissions from occurring “in normal conditions” regardless of whether the core token stays as Maker (MKR) or becomes SKY in line with the new brand.

The new token structure would ensure that the chosen token is supported by long-term supply reduction and a burn mechanism, aligning with MakerDAO’s original tokenomics model.

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Sky’s Rune Christensen Reveals Star Allocation Proposal—and Possibly a Return to the Old Maker Name

Sky’s Rune Christensen Reveals Star Allocation Proposal—and Possibly a Return to the Old Maker NameRune Christensen, founder of Makerdao, has outlined a comprehensive plan for the future of the decentralized finance (defi) ecosystem, highlighting the success of the USDS stablecoin and introducing the Star Allocation System Framework. A key aspect of the plan includes a possible transition back to the Maker brand, following community feedback on recent changes. Makerdao […]

Analysts’ Bitcoin $200K Target Fuels Bullish Fire, Bears Brace for Impact

Sky Reports Over 1 Billion USDS Minted Since August Rebrand

Sky Reports Over 1 Billion USDS Minted Since August RebrandIt’s been approximately 38 days since Makerdao, the decentralized finance (defi) project, rebranded as Sky and launched both the USDS stablecoin and the SKY token. During this time, more than a billion USDS coins have been minted, and 530 million DAI have been converted to the new standard. Makerdao Sees 530 Million DAI Upgraded Since […]

Analysts’ Bitcoin $200K Target Fuels Bullish Fire, Bears Brace for Impact

Sky Adviser Recommends Halting Wrapped Bitcoin Offboarding

Sky Adviser Recommends Halting Wrapped Bitcoin OffboardingBA Labs, an adviser to Sky, formerly known as Makerdao, has decided to stop recommending any additional parameter changes regarding the offboarding of wrapped bitcoin (WBTC) collateral. The move follows statements from Bitgo’s CEO Mike Belshe and a vote from Sky community members. Sky Adviser BA Labs Recommends Pausing WBTC Offboarding Changes BA Labs’ decision […]

Analysts’ Bitcoin $200K Target Fuels Bullish Fire, Bears Brace for Impact

Aave, Sky float partnership to bridge DeFi, TradFi

The plan would create markets for DAI-replacement USDS on Aave.

Decentralized finance (DeFi) protocols Aave and Sky (previously Maker) are exploring a partnership designed to “close the gap between DeFi and TradFi,” according to a Sept. 2 announcement.

The proposed partnership, referred to as the Sky Aave Force, follows a Sept. 2 governance proposal by Phoenix Labs, a DeFi research and development organization. The proposal suggests issuing SPK tokens—native to Sky’s subDAO, Spark—to help establish a market for USDS, a stablecoin launched after Maker’s August rebranding to Sky

“Sky Aave Force has an ambitious goal: to drive mass adoption and close the gap between DeFi and TradFi. Now is the time to work together,” said Aave Labs, the developer behind the Aave DeFi lending platform.

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Analysts’ Bitcoin $200K Target Fuels Bullish Fire, Bears Brace for Impact

Crypto Trader Says Ethereum on Cusp of Breaking Out, Updates Outlook on Bitcoin and One DeFi Altcoin

Crypto Trader Says Ethereum on Cusp of Breaking Out, Updates Outlook on Bitcoin and One DeFi Altcoin

A closely followed crypto analyst says that Ethereum (ETH) is on the brink of a swing to the upside while updating his outlook on Bitcoin (BTC) and decentralized finance (DeFi) altcoin Maker (MKR). In a new strategy session, crypto trader Ali Martinez tells his 69,00 followers on the social media platform X that the top […]

The post Crypto Trader Says Ethereum on Cusp of Breaking Out, Updates Outlook on Bitcoin and One DeFi Altcoin appeared first on The Daily Hodl.

Analysts’ Bitcoin $200K Target Fuels Bullish Fire, Bears Brace for Impact

MakerDAO Co-Founder Says Stablecoin Rebrand Will Have Freeze Function, But DAI Will Continue As Normal

MakerDAO Co-Founder Says Stablecoin Rebrand Will Have Freeze Function, But DAI Will Continue As Normal

The co-founder of decentralized finance (DeFi) platform Maker (MKR) says that the rebrand of its stablecoin will have a freeze function but that DAI will continue to operate normally. In a new thread on the social media platform X, MakerDAO creator Rune Christensen says that DAI itself will not feature a freeze function – or […]

The post MakerDAO Co-Founder Says Stablecoin Rebrand Will Have Freeze Function, But DAI Will Continue As Normal appeared first on The Daily Hodl.

Analysts’ Bitcoin $200K Target Fuels Bullish Fire, Bears Brace for Impact

Stablecoin Market Remains Steady in June Amidst Crypto Volatility

Stablecoin Market Remains Steady in June Amidst Crypto VolatilityWhile June was a lackluster period for crypto assets as many experienced double-digit losses against the U.S. dollar, the stablecoin market also saw minimal growth over the past 30 days. Ethena’s USDE led the growth, with its supply increasing by 21.4% since May. Stablecoin Economy Shows Little Change in June The stablecoin market remained relatively […]

Analysts’ Bitcoin $200K Target Fuels Bullish Fire, Bears Brace for Impact

MakerDAO delegate’s $11M in tokens stolen in phishing scam

The user fell victim to the phishing scam after signing multiple phishing signatures, which resulted in the loss of their digital assets.

A MakerDAO governance delegate has lost $11 million worth of Aave Ethereum Maker (aEthMKR) and Pendle USDe tokens in a phishing scam due to signing multiple signatures. 

Scam Sniffer detected the incident in the early hours of June 23. The user fell victim to the phishing scam after signing multiple signatures, which led to the loss of their digital assets.

The sender address, “0xfb94d3404c1d3d9d6f08f79e58041d5ea95accfa,” transferred 3,657 aEthMKR tokens to the recipient address “0x739772254924a57428272f429bd55f30eb36bb96,” and the transaction was confirmed within 11 seconds.

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MakerDAO and Aave’s DeFi conflict reopens over DAI’s perceived risk growth

Aave has reduced its loan-to-value requirements for DAI after MakerDAO’s stablecoin gained indirect exposure to Ethena’s USDe.

The once-symbiotic relationship between decentralized stablecoin issuer MakerDAO and lending protocol Aave is fraying. 

As new innovations are being tested within the decentralized finance (DeFi) sector, tension has started building up. The perceived risk of these innovations puts the two major protocols at a crossroads.

At the center of the controversy is a controversial stablecoin mirroring what’s known as a “basis trade” and Maker’s Direct Deposit Dai Module (D3M), Ethena’s USDe.

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Analysts’ Bitcoin $200K Target Fuels Bullish Fire, Bears Brace for Impact