DeFi’s central bank is piling on fees. MakerDAO backend and oracles engineer Nik Kunkel tweeted that if the current market conditions remain stable, the protocol would generate ~$71M in annual stability fees. Stability fees paid by Maker borrowers (similar to borrowing costs), are then burned by the protocol, indirectly benefiting MKR holders by reducing the …
Fixed rate lending has been slow to take off in DeFi. That’s what one of the latest MakerDAO proposals is seeking to change. Maker Improvement Proposal 43 would enable MakerDAO to buy fixed-rate loans. The goal is that having DeFi’s largest protocol buying tokenized loans issued by other protocols, at more favorable terms, will boost …
MakerDAO Proposal Seeks to Boost DeFi Fixed-Rate Loans Read More »
MakerDAO has casually reintroduced stability fees for the ~$900M worth of DAI now in circulation. Maker’s MKR holders voted to raise the protocol’s stability fee – similar to interest rates for Dai borrowers – to 2% for ETH collateral from 0%, the highest since January. The reintroduction of stability fees sets Maker on track to …
Maker Stability Fee Increase May Boost MKR Price Read More »
MakerDAO traders who had their collateral wiped out during DeFi’s so-called Black Thursday, received bad news from the protocol’s decentralized court this week: they won’t be getting a penny (or gwei) back. Their only hope now lies in traditional/centralized courts. On March 12th, DeFi experienced its worst day on record as prices tanked by more …
Maker Votes to Not Compensate Black Thursday Victims Read More »