MakerDao
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MakerDAO may adjust wrapped Bitcoin (WBTC) policy due to Justin Sun risk concerns
30X Profit Expected from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 & Exchange Listing Price $0.30, Donât miss this opportunity; join the pre-sale at the official website (PlayAiGames.Online)
BA Labs on MakerDAO wants the Maker protocol to limit exposure to wrapped Bitcoin (WBTC). The recommendation follows the news that WBTC issuer BitGo will partner with BitGlobal to transfer WBTC control to a new joint venture involving Tron founder Justin Sun.
The joint venture will now manage WBTC, and custody of the BTC reserves backing WBTC will be split across three jurisdictions, including Hong Kong and Singapore, instead of the US alone. Although Sun has assured users that these changes will not affect WBTC, many DeFi stakeholders think otherwise.
MakerDAO to vote on limiting WBTC exposure
To limit potential risks, BA Labs recommends that Maker restrict the growth of WBTC on the protocol by reducing the use of WBTC in three core Maker vaults to zero and disabling WBTC borrowing on SparkLend. These changes will limit new loans from using WBTC as collateral on all MakerDAO protocols if implemented.
The team believes this action is necessary due to Justin Sunâs history. They are concerned about past events involving all projects associated with the crypto entrepreneur, such as TUSD stablecoin, stUSDT, and HTX.
#MakerDao #Maker #Trx #Tron #JustinSun $TRX
30X Profit Expected from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 & Exchange Listing Price $0.30, Donât miss this opportunity; join the pre-sale at the official website (PlayAiGames.Online)
BA Labs on MakerDAO wants the Maker protocol to limit exposure to wrapped Bitcoin (WBTC). The recommendation follows the news that WBTC issuer BitGo will partner with BitGlobal to transfer WBTC control to a new joint venture involving Tron founder Justin Sun.
The joint venture will now manage WBTC, and custody of the BTC reserves backing WBTC will be split across three jurisdictions, including Hong Kong and Singapore, instead of the US alone. Although Sun has assured users that these changes will not affect WBTC, many DeFi stakeholders think otherwise.
MakerDAO to vote on limiting WBTC exposure
To limit potential risks, BA Labs recommends that Maker restrict the growth of WBTC on the protocol by reducing the use of WBTC in three core Maker vaults to zero and disabling WBTC borrowing on SparkLend. These changes will limit new loans from using WBTC as collateral on all MakerDAO protocols if implemented.
The team believes this action is necessary due to Justin Sunâs history. They are concerned about past events involving all projects associated with the crypto entrepreneur, such as TUSD stablecoin, stUSDT, and HTX.
#MakerDao #Maker #Trx #Tron #JustinSun $TRX
#MarketSentimentToday #Write2earn
MakerDAO Rebrands to Sky: New Tokens and Features Unveiled
#MakerDao #SKY #MakerDAOrebrand
$DAI $USDS $MKR
On August 27, MakerDAO rebranded as Sky, marking a significant shift for the DeFi giant. The rebrand introduces two new tokens, USDS (a stablecoin) and SKY (a governance token), set to launch on September 18 as part of the "Endgame" overhaul.
Purpose of the Sky Rebrand
Founder Rune Christensen described the rebrand as a way to simplify MakerDAO's complex protocol, making it more user-friendly. Sky will also launch a new website and app on September 18, offering a streamlined interface.
Token Upgrades and New Incentives
Current DAI and MKR tokens will remain but can be upgraded to USDS and SKY. Each MKR can convert to 24,000 SKY tokens, and DAI will convert to USDS one-to-one. A new farming mechanism will emit SKY tokens, and early adopters can earn double yields with the Sky Savings Rate (SSR).
Sky Stars: Independent Decentralized Projects
The metaDAO ecosystem will be rebranded as "Sky Stars," decentralized projects with their own governance, tokens, and treasuries. The first Sky Star, Spark, will allow users to borrow USDS by supplying cryptocurrency as collateral.
MakerDAO Rebrands to Sky: New Tokens and Features Unveiled
#MakerDao #SKY #MakerDAOrebrand
$DAI $USDS $MKR
On August 27, MakerDAO rebranded as Sky, marking a significant shift for the DeFi giant. The rebrand introduces two new tokens, USDS (a stablecoin) and SKY (a governance token), set to launch on September 18 as part of the "Endgame" overhaul.
Purpose of the Sky Rebrand
Founder Rune Christensen described the rebrand as a way to simplify MakerDAO's complex protocol, making it more user-friendly. Sky will also launch a new website and app on September 18, offering a streamlined interface.
Token Upgrades and New Incentives
Current DAI and MKR tokens will remain but can be upgraded to USDS and SKY. Each MKR can convert to 24,000 SKY tokens, and DAI will convert to USDS one-to-one. A new farming mechanism will emit SKY tokens, and early adopters can earn double yields with the Sky Savings Rate (SSR).
Sky Stars: Independent Decentralized Projects
The metaDAO ecosystem will be rebranded as "Sky Stars," decentralized projects with their own governance, tokens, and treasuries. The first Sky Star, Spark, will allow users to borrow USDS by supplying cryptocurrency as collateral.
