Tim Draper, the billionaire and Bitcoin bull who has backed Tesla, SpaceX and Coinbase, is making moves into decentralized finance. He is now investing in DeFi Money Markets DAO (DMM DAO), according to the DMM Foundation’s official announcement on March 16. The billionaire is investing in governance tokens Draper Goren Holm Ventures, the leading fintech VC fund focusing on early-stage blockchain startups, has purchased a stake in the form of DMG — the soon-to-be-released governance token that will run the DMM DAO, as stated in the announcement. According to the official post, The DMG token offers holders the right to …

Major decentralized finance (DeFi) player MakerDAO (MKR) partnered with payment processor Simplex to create a fiat on-ramp for its Dai (DAI) decentralized stablecoin. According to an announcement on Mar. 3, the partnership makes it possible to buy Dai with the credit and debit cards of Simplex’s partner firms. Maker’s business development representative in Europe, Gustav Arentoft, said: “Having Dai integrated into Simplex is a benefit to current and future users, [...] it gives them a straightforward fiat on- and off-ramp with access to the industry’s biggest players.” MakerDAO is a leading player in the DeFi space and the organization behind …

According to a Feb. 3 press release, open source blockchain platform Waves established a non-profit organization called Waves Association in Frankfurt, Germany to provide effective governance for its own ecosystem, Web3, and to foster the development of DLTs, including public and private blockchain protocols. Uniting six countries The Waves Association will be represented by ten community members from six different countries: Portugal, Spain, Switzerland, Germany, the Netherlands, and Russia. Waves founder Alexander Ivanov, who is also a member of the association, calls the launch of the Waves Association an important step for the company’s ecosystem: Through the Association, we will …

The topic of decentralized autonomous organizations is echoing loud and clear from the halls of this year’s DevCon to CryptoTwitter. Multiple projects at DevCon, including Aragon and MolochDAO, presented their commitments to decentralize power across a DAO, or, a group organized by rules encoded as a computer program. DAOs are transparent and controlled by the community rather than a centralized authority, such as a government, bank or corporation. Related: What is DAO Key to the formation of a DAO is the organization around a particular purpose or mission. For example, Aragon is organized to enable new types of sovereign organizations. …

Decentralized autonomous organization (DAO) Maker will launch a new type of Dai (DAI) stablecoin today. Known as Multi-Collateral Dai (MCD), the new type of the DAI will be backed by several types of collateral in contrast to the existing Single-Collateral Dai (SCD), which will now be called Sai (SAI). While Maker previously announced the new protocol in October, the firm provided an update on the upcoming changes to Dai in a post on Nov. 18. As per the announcement, the launch of MCD will not require any action from Dai users today. Maker said it will be monitoring developments closely …

Japan, the second-largest source of traffic for global crypto exchanges to date, witnessed a number of industry announcements this week as the country hosted the major blockchain event Devcon 5 from Oct. 8 to Oct. 11. Organized on an annual basis by the Ethereum Foundation, the recent Devcon conference featured leading figures in the blockchain and cryptocurrency industries, including Ethereum co-founders Vitalik Buterin and Joseph Lubin. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph Japan. MakerDAO to launch MCD in November On Oct. 9, Rune Christensen, the CEO of the Maker …

Rune Christensen, the CEO of the Maker Foundation, has revealed that the Multi-Collateral Dai (MCD) system will be ready to launch on Nov. 18. Speaking at Devcon 5 in Osaka, Japan, Christensen urged all holders of MakerDAO's MKR token to cast their votes on Nov. 15. Dai savings rate, new CDPs MCD is a decentralized blockchain-based system designed to encompass Maker smart contracts, front-end apps, tools and services. MakerDao’s announcement points out two core features of the Maker protocol that will be heralded by its planned November launch. First, the Dai Savings Rate (DSR) — an MCD feature that allows …

Major cryptocurrency exchange Huobi has added support for MakerDAO tokens and decentralized apps (DApps) in its wallet. Huobi Group shared the announcement with Cointelegraph on Aug. 19. MakerDAO has a stablecoin called Dai, a token named MKR, and applications including CPD Portal. The Maker project is a combination of its stablecoin, collateral loans and community governance. MakerDAO is a type of decentralized autonomous organization (DAO), which is an organization that is managed solely by smart contracts and code, not human managers. A DAO is also operated by users via a consensus voting mechanism, which can be used to make changes …

London-based banking alternative Monolith announced its partnership with decentralized finance companies Digix and MakerDAO, Aug. 15. As part of its drive for digital payment adoption in e-commerce, DGX, DGD and DAI tokens will now be loadable onto the Monolith Visa debit card. A critical bridge between the worlds of decentralized finance and retail Effective immediately, users who sign up for a Monolith Visa debit card will be able to load it up with MakerDAO and Digix’s digital currencies through the Monolith mobile app. The currencies can then be used for everyday purchases, bill payments and to send and receive money. …

Web3 Foundation (W3F) director Ryan Zurrer has announced that he is stepping down from his role at the decentralized web-focused nonprofit to pursue his interest in investments and decentralized autonomous organizations (DAOs). Zurrer expounded on his departure in a series of Twitter posts on Aug. 5. Zurrer explained that he will be gradually removing himself from the organization, partially in light of its current success. In June, W3F managed the token sale of blockchain interoperability protocol Polkadot (DOT). Zurrer said: “With the success of the DOTs sale, the success of the @web3summit & the Foundation in a strong position organizationally, …

The Ethereum-based predictions platform Veil is shutting down, according to an official Medium post on July 11. As of July 11, no new markets will be added to the platform. Trading will be disabled entirely on July 24. Veil co-founder Paul Fletcher-Hill recommended that users redeem open positions, withdraw positions from active markets, and withdraw Veil Ether and convert it to Ether. Veil was a type of extension to the Ethereum-based predictions market Augur. Augur is a predictions market — that still exists — that uses smart contracts to let users create and bet on the outcome of any event …

On June 19, the Ethereum Classic (ETC) community announced that the Atlantis hard fork is now in its testing stage. As Cointelegraph previously reported, the update is scheduled for September and will take place on the block 8.75 million. Also, as Cointelegraph reported, ETC Labs, which actively contributed to the Atlantis project, has recently launched an Ether (ETH)/ETC interoperability tool as part of the Metronome Validator Network software. This move brings transparency on certain aspects of the upcoming upgrade. ETC itself was introduced after the DAO attack back in 2016, when 3.6 million ETH had been stolen within the first …