DAI
274,506 views
188 Posts
Hot
Latest
TOP #STABLECOINS BY MARKET CAPITALIZATION
TOTAL #STABLE MARKET CAP - $162.07B
STABLE DOMINANCE - 7.21%
USDT DOMINANCE - 69.62%
#USDT #USDC #DAI $USDe $FDUSD $USDD $FRAX $TUSD $PYUSD
TOTAL #STABLE MARKET CAP - $162.07B
STABLE DOMINANCE - 7.21%
USDT DOMINANCE - 69.62%
#USDT #USDC #DAI $USDe $FDUSD $USDD $FRAX $TUSD $PYUSD
The Multichain bridge, which came to the fore with the hacking event it experienced before, faced a hacking event again yesterday.
Making a statement about the hack event, the #Multichain team stated that they were faced with an unexpected event and said that all users should suspend the use of Multichain services and cancel all Multichain-related transactions.
In this incident, it was stated that hackers exploited a vulnerability in the bridge's smart contract to steal millions of dollars worth of cryptocurrencies, including Wrapped #Bitcoin (WBTC), #USD Coin ($USDC ), Dai (#DAI ), and Wrapped #Ether (WETH ).
Making a statement about the hack event, the #Multichain team stated that they were faced with an unexpected event and said that all users should suspend the use of Multichain services and cancel all Multichain-related transactions.
In this incident, it was stated that hackers exploited a vulnerability in the bridge's smart contract to steal millions of dollars worth of cryptocurrencies, including Wrapped #Bitcoin (WBTC), #USD Coin ($USDC ), Dai (#DAI ), and Wrapped #Ether (WETH ).
🚨 MakerDAO Founder, Rune , just swapped 620K #DAI to #MKR 5 hours ago:
- He received 5M $DAI from Maker Dao Lock wallet
- Swapped 2M $DAI to 2M #USDC and 620K $DAI to $MKR
- Still holds 2.3M $DAI, so he may swap more to $MKR later.
- The last similar action was 1.5 months ago when he swapped 20 #ETH to #MKR
His address: https://etherscan.io/address/0x0f89d54b02ca570de82f770d33c7b7cf7b3c3394
More details: https://twitter.com/spotonchain/status/1680596586227814401
- He received 5M $DAI from Maker Dao Lock wallet
- Swapped 2M $DAI to 2M #USDC and 620K $DAI to $MKR
- Still holds 2.3M $DAI, so he may swap more to $MKR later.
- The last similar action was 1.5 months ago when he swapped 20 #ETH to #MKR
His address: https://etherscan.io/address/0x0f89d54b02ca570de82f770d33c7b7cf7b3c3394
More details: https://twitter.com/spotonchain/status/1680596586227814401
🚨 URGENT UPDATE: ORBIT_CHAIN FACES $81.4M EXPLOIT! CAUTION ADVISED IN VOLATILE CRYPTO LANDSCAPE! 🌐💔
Orbit_Chain faced a major exploit, resulting in a substantial loss of approximately $81.4 million. The breakdown includes a significant amount in various cryptocurrencies:👇
30 million #USDT
9,500 $ETH ($21.6 million)
10 million $USDC
10 million #DAI
230.88 $WBTC ($9.8 million)
The exploited contract address is: 👇
0x1Bf68A9d1EaEe7826b3593C20a0ca93293cb489a
Stay informed, and exercise caution in the volatile #Cryptocurrrency landscape! 🌐💔
😍 A small LIKE and FOLLOW, Motivates me a lot 😍
Orbit_Chain faced a major exploit, resulting in a substantial loss of approximately $81.4 million. The breakdown includes a significant amount in various cryptocurrencies:👇
30 million #USDT
9,500 $ETH ($21.6 million)
10 million $USDC
10 million #DAI
230.88 $WBTC ($9.8 million)
The exploited contract address is: 👇
0x1Bf68A9d1EaEe7826b3593C20a0ca93293cb489a
Stay informed, and exercise caution in the volatile #Cryptocurrrency landscape! 🌐💔
😍 A small LIKE and FOLLOW, Motivates me a lot 😍
- According to Tokenview data reported by Odaily, the total count of #bitcoin transactions has reached around 880 million.
- The overall circulating supply of Bitcoin has reached 19.45 million.
- The total number of addresses #holding Bitcoin has surpassed 53.18 million.
- The next anticipated Bitcoin #halving event is expected to occur in 255 days.
- Deribit data, as reported by Odaily, shows that Ethereum's historical volatility has dropped and is now below 20%.
- The current volatility rate for Ethereum ( #ETH ) is recorded at 19.90%.
- Shandong Province plans to establish the 'Shandong Province Metaverse Industry Innovation and Development Alliance' to capitalize on the virtual reality industry's advantages and exploit metaverse development opportunities.
- The province seeks to create metaverse-oriented standard projects and encourages entities in Shandong's metaverse-related sectors to become alliance members.
- The alliance aims to foster collaboration in the industry, innovation, and value chains around key metaverse technologies, products, and equipment research and development.
- Qualified units are encouraged to conduct preliminary research on standards, lead or participate in standard system construction, and promote technological innovation through standard innovation.
- The alliance will play a role in standard formulation, implementation, and supervision, and facilitate cooperation among different units to construct the metaverse standard system.
- Shandong aims to establish a comprehensive, coordinated, and open metaverse standard system, cultivate metaverse-related standards, boost the metaverse's impact on the real economy, and advance high-quality development in the metaverse industry.
- MakerDAO's sDAI has experienced significant growth since its launch, according to on-chain data analyst Tom Wan from 21co.
- sDAI allows #DAI depositors to earn 8% interest while maintaining liquidity, akin to the concept of LST.
- sDAI has ascended to become the seventh largest stablecoin on Ethereum, rapidly gaining traction.
$MKR $ETH $BTC
- The overall circulating supply of Bitcoin has reached 19.45 million.
- The total number of addresses #holding Bitcoin has surpassed 53.18 million.
- The next anticipated Bitcoin #halving event is expected to occur in 255 days.
- Deribit data, as reported by Odaily, shows that Ethereum's historical volatility has dropped and is now below 20%.
- The current volatility rate for Ethereum ( #ETH ) is recorded at 19.90%.
- Shandong Province plans to establish the 'Shandong Province Metaverse Industry Innovation and Development Alliance' to capitalize on the virtual reality industry's advantages and exploit metaverse development opportunities.
- The province seeks to create metaverse-oriented standard projects and encourages entities in Shandong's metaverse-related sectors to become alliance members.
- The alliance aims to foster collaboration in the industry, innovation, and value chains around key metaverse technologies, products, and equipment research and development.
- Qualified units are encouraged to conduct preliminary research on standards, lead or participate in standard system construction, and promote technological innovation through standard innovation.
- The alliance will play a role in standard formulation, implementation, and supervision, and facilitate cooperation among different units to construct the metaverse standard system.
- Shandong aims to establish a comprehensive, coordinated, and open metaverse standard system, cultivate metaverse-related standards, boost the metaverse's impact on the real economy, and advance high-quality development in the metaverse industry.
- MakerDAO's sDAI has experienced significant growth since its launch, according to on-chain data analyst Tom Wan from 21co.
- sDAI allows #DAI depositors to earn 8% interest while maintaining liquidity, akin to the concept of LST.
- sDAI has ascended to become the seventh largest stablecoin on Ethereum, rapidly gaining traction.
$MKR $ETH $BTC
🚀💸 Ethereum Foundation in Action! 💸🚀
Breaking News in the crypto realm! 🌐✨ The #Ethereum Foundation wallet (Grant Provider: 0x9ee...13d) orchestrated a savvy move, swapping a cool 100 $ETH for a staggering 253K #DAI !
🔄🚀 This strategic maneuver unfolded just 14 hours ago.
🌐 Wallet Address: 👇
0x9ee457023bb3de16d51a003a247baead7fce313d
Witness the #ETH Foundation flexing its crypto muscles, making waves with calculated moves in the ever-evolving landscape! 📈
💪 Stay tuned for more thrilling updates as the Ethereum saga continues to unfold. 🌌🔍
❤️A small LIKE & FOLLOW❤️
.😍 Motivates me a LOT 😍.
Breaking News in the crypto realm! 🌐✨ The #Ethereum Foundation wallet (Grant Provider: 0x9ee...13d) orchestrated a savvy move, swapping a cool 100 $ETH for a staggering 253K #DAI !
🔄🚀 This strategic maneuver unfolded just 14 hours ago.
🌐 Wallet Address: 👇
0x9ee457023bb3de16d51a003a247baead7fce313d
Witness the #ETH Foundation flexing its crypto muscles, making waves with calculated moves in the ever-evolving landscape! 📈
💪 Stay tuned for more thrilling updates as the Ethereum saga continues to unfold. 🌌🔍
❤️A small LIKE & FOLLOW❤️
.😍 Motivates me a LOT 😍.
See original
Jeremy Allaire: “2024 is the right time to pass a law to regulate stablecoins”
In an interview with CNBC at the annual meeting of the World Economic Forum in Davos, Switzerland, Jeremy Allaire noted that stablecoins pegged to the US dollar are emerging around the world. Many governments began regulating stablecoins before the United States, so if the U.S. intends to maintain its leadership position in the payments space, it will make sure consumers are protected correctly, Allaire said.
“Following the approval of spot Bitcoin exchange-traded funds, changes in the regulation of cryptocurrencies should follow. 2024 is the right time,” said the head of Circle.
#Tether #DAI
In an interview with CNBC at the annual meeting of the World Economic Forum in Davos, Switzerland, Jeremy Allaire noted that stablecoins pegged to the US dollar are emerging around the world. Many governments began regulating stablecoins before the United States, so if the U.S. intends to maintain its leadership position in the payments space, it will make sure consumers are protected correctly, Allaire said.
“Following the approval of spot Bitcoin exchange-traded funds, changes in the regulation of cryptocurrencies should follow. 2024 is the right time,” said the head of Circle.
#Tether #DAI
In a bold move within the last 3 hours, an address possibly linked to Abraxas Capital executed a significant swap, exchanging 120 #WBTC for 3.21 million #DAI (equivalent to $7.47 million).
Despite this transaction, the address continues to boast a substantial portfolio, holding 1069.68 $WBTC (valued at $67.25 million) and 3,236,810.24 $DAI (worth $3.23 million).
For those following the actions of Abraxas Capital and its related addresses, the wallet address in question is 👇
0xDdE0d6e90bfB74f1dC8ea070cFd0c0180C03Ad16.
Keep an eye out for further strategic moves from this player in the crypto space! 💼📈
Despite this transaction, the address continues to boast a substantial portfolio, holding 1069.68 $WBTC (valued at $67.25 million) and 3,236,810.24 $DAI (worth $3.23 million).
For those following the actions of Abraxas Capital and its related addresses, the wallet address in question is 👇
0xDdE0d6e90bfB74f1dC8ea070cFd0c0180C03Ad16.
Keep an eye out for further strategic moves from this player in the crypto space! 💼📈
🚫❗ #Alert : Beware of Phishing Scams! 💔💸
Fake_Phishing187019 has made off with 109.4K $DAI , originating from wallet address 0xC0Ee...5082. 🛡📢
👀 Stay vigilant and protect your assets from such fraudulent activities. Here's the transaction hash for reference: 👇
0xd54db8ed972f4b8e23d3a7a8502f4a5bae80b654218396b7e1c2c1d66ef8f966. 🔒🔍💡
🔒 Your #crypto safety is paramount; be cautious and avoid falling victim to fraudulent schemes. Double-check addresses and stay vigilant! 💡🔍🚫
🙏 a small LIKE & FOLLOW , motivates me a LOT ❤️
Fake_Phishing187019 has made off with 109.4K $DAI , originating from wallet address 0xC0Ee...5082. 🛡📢
👀 Stay vigilant and protect your assets from such fraudulent activities. Here's the transaction hash for reference: 👇
0xd54db8ed972f4b8e23d3a7a8502f4a5bae80b654218396b7e1c2c1d66ef8f966. 🔒🔍💡
🔒 Your #crypto safety is paramount; be cautious and avoid falling victim to fraudulent schemes. Double-check addresses and stay vigilant! 💡🔍🚫
🙏 a small LIKE & FOLLOW , motivates me a LOT ❤️
Crypto Trading Bot's $200M Flash Loan Yields Mere $3.24 Profit
A crypto trading bot executed complex moves, including a $200 million flash loan, to secure a mere $3.24 profit, as revealed by #blockchain analysis firm Arkham Intelligence. The bot borrowed 200 million #DAI from MakerDAO, used it to borrow Wrapped Ether (WETH), purchased Threshold Network (T) tokens, and sold them on Balancer. Despite the high risk, the bot only gained 0.019 Ether after paying transaction fees of around $28.76, leaving it with just $3.24 profit. One community member praised the bot, emphasizing that "profit is profit," while another highlighted how such efforts reflect the challenges of the bear market. Another bot operator made over $1 million through sandwich attacks on meme coin traders.
Assalam Alaikum I hope you are well Alhamdulillah I am working on Metaforce for last 15 months and I am earning lakhs of rupees daily 🔥🔥 If I talk about my daily income just from NFT then 🥈🥈 850 dollars. If you talk to me, two lakh 55 thousand rupees 🥳🥳 This is Metaforce and this is Metaforce's NFT. If you also want to earn money, then start Metaforce and earn millions of rupees from here 💸💸
**🐋 Whale Deposits 3 Million DAI into Binance**: A specific whale recently deposited 3 million DAI into Binance, according to on-chain analyst AI. The whale also borrowed 5 million DAI, of which 3 million DAI was converted to USDT and deposited on Binance. With the remaining 2 million DAI, the whale purchased 870 ETH at an average price of $2,297. 🐳💰 #CryptoWhale #DAI #BinanceDeposit
1. **DAI Yield Increase and Growth**: #MakerDAO has raised the deposit rate (DSR) of its #stablecoin DAI from 3.19% to 8% using the EDSR mechanism. This move aims to boost DAI growth and demand by making DSR more appealing. #DAI now offers the highest yield among stablecoins, attracting a substantial inflow of funds, increasing the total DAI amount from around $340 million to $1.18 billion.
2. **Impact on Maker's Finances**: The change in DSR has spurred more DAI #minting through Maker Vaults, reversing a previous supply decline. However, this expansion has financial implications. The 8% DSR leads to a projected annual operating cost of $54 million for MakerDAO. Despite reduced profits (from $84 million to $23 million annually), the decrease is considered a strategic move to rekindle DAI demand, akin to a customer acquisition cost.
3. **Sustainability and Mechanism Details**: The new DSR #mechanism appears sustainable. The EDSR varies with DSR utilization, ranging from 8% for 0-20% utilization, down to 4.15% for 35-50% utilization. While Maker will earn more interest from newly minted DAI, increased DSR deposits could pressure profits, making it crucial to reach the 4.15% EDSR level. This sustainable approach aims to position DAI as an attractive on-chain yield alternative, fostering Maker's growth and setting the stage for Maker SubDAOs to enhance DAI and MKR token utility.
$MKR $ETH $BTC
2. **Impact on Maker's Finances**: The change in DSR has spurred more DAI #minting through Maker Vaults, reversing a previous supply decline. However, this expansion has financial implications. The 8% DSR leads to a projected annual operating cost of $54 million for MakerDAO. Despite reduced profits (from $84 million to $23 million annually), the decrease is considered a strategic move to rekindle DAI demand, akin to a customer acquisition cost.
3. **Sustainability and Mechanism Details**: The new DSR #mechanism appears sustainable. The EDSR varies with DSR utilization, ranging from 8% for 0-20% utilization, down to 4.15% for 35-50% utilization. While Maker will earn more interest from newly minted DAI, increased DSR deposits could pressure profits, making it crucial to reach the 4.15% EDSR level. This sustainable approach aims to position DAI as an attractive on-chain yield alternative, fostering Maker's growth and setting the stage for Maker SubDAOs to enhance DAI and MKR token utility.
$MKR $ETH $BTC
Stablecoins: The Importance of Transparency and Decentralization
#Stablecoins are an indispensable component of the cryptocurrency ecosystem, playing a crucial role in the rapidly expanding world of decentralized finance (DeFi). They provide a stable store of value and enable seamless transactions in a volatile market, acting as a vital link between fiat and crypto!
However, recent developments reveal a troubling trend that the most transparent stablecoins are shrinking, while their opaque counterparts are thriving, which undermines the trust the industry desperately needs!
According to Kaiko's research analyst Riyad Carey, #USDC and #DAI token from MakerDAO, which are transparent about their backing, experienced a flight from users to the perceived safety of #USDT, which hasn't released an independent reserve report this year and whose issuer was fined by the CFTC for lying about its backing!
This trend is reflective of an age-old business problem in which companies are incentivized to grow at all costs, which was supercharged in the Web2 era. It is the opposite of the appeal of crypto, which is its potential to write the wrongs of an internet that grew quickly without direction or cohesion!
To address this issue, a decentralized stablecoin could be an ideal solution. Unfortunately, most of the top DeFi-native stablecoins are backed by centralized and censorable assets that make up a significant portion of their supposed decentralization. Thus, the stability of these DeFi-native stablecoins remains questionable!
Despite this, there is some exciting innovation on the way. Curve Finance's crvUSD, which will seemingly be backed with decentralized collateral like ether (ETH) and should benefit from extremely deep liquidity, is a potential contender to solve the decentralized stablecoin problem.
Additionally, dinero from Redacted Cartel will be mostly backed by #ETH, and while it is not a complete solution, it represents a step towards bringing us closer.
However, recent developments reveal a troubling trend that the most transparent stablecoins are shrinking, while their opaque counterparts are thriving, which undermines the trust the industry desperately needs!
According to Kaiko's research analyst Riyad Carey, #USDC and #DAI token from MakerDAO, which are transparent about their backing, experienced a flight from users to the perceived safety of #USDT, which hasn't released an independent reserve report this year and whose issuer was fined by the CFTC for lying about its backing!
This trend is reflective of an age-old business problem in which companies are incentivized to grow at all costs, which was supercharged in the Web2 era. It is the opposite of the appeal of crypto, which is its potential to write the wrongs of an internet that grew quickly without direction or cohesion!
To address this issue, a decentralized stablecoin could be an ideal solution. Unfortunately, most of the top DeFi-native stablecoins are backed by centralized and censorable assets that make up a significant portion of their supposed decentralization. Thus, the stability of these DeFi-native stablecoins remains questionable!
Despite this, there is some exciting innovation on the way. Curve Finance's crvUSD, which will seemingly be backed with decentralized collateral like ether (ETH) and should benefit from extremely deep liquidity, is a potential contender to solve the decentralized stablecoin problem.
Additionally, dinero from Redacted Cartel will be mostly backed by #ETH, and while it is not a complete solution, it represents a step towards bringing us closer.
#JustinSun minted 77.8M #DAI with 102,462 #stETH ($190M) and deposited the 77.8M #DAI into #Maker ($MKR )
At 8% APY, he'll earn $6.22M a year later and $17K per day.
$ETH
At 8% APY, he'll earn $6.22M a year later and $17K per day.
$ETH
