Stability has become a holy grail for the crypto market, and right now, one of the biggest stablecoins is MakerDAO's DAI. Launched in December 2017 as an ERC-20 token, it's pegged 1:1 with the United States dollar, with its peg being maintained via over-collateralization with ether (ETH). In other words, users receive the equivalent of $1 in DAI by depositing more than $1 in ETH, and they can later reclaim their collateral by repaying the DAI they've received plus a “stability fee” in MKR, MakerDAO's other (nonstablecoin) token. By charging users this additional fee, the MakerDAO system theoretically prevents the …

Another vote about whether to raise the so-called stability fee for Maker’s ethereum (ETH)-based DAI decentralized stablecoin by 3% has started on the governance portal of the Decentralized Autonomous Organization (DAO) on April 19. MakerDAO, which issues the USD-pegged aforementioned algorithmic decentralized stablecoin, is seeking to improve the token’s peg by increasing the yearly stability fee. The stability fee is a charge levied by Maker participants when Dai is used for loans. In March, the DAO already raised the stability fee twice, first to 3.5%, and then to 7.5% per year. Also last week, the fee was further increased by …

Users of Decentralized Autonomous Organization (DAO) MakerDAO (MKR) look set to raise the stability fee for Maker’s DAI (DAI) stablecoin by a further 4%, in the fifth such vote this year. An ongoing governance poll, due to close within 8 hours today, April 11 (5 PM UTC), indicates that 50,579.23 MKR have been staked in favor of raising the stability fee by 4%, bringing it to 11.5% per year. Other options on the poll included votes in favor of an increase of 1, 2 and 3% — or else not to raise the current fee at all. The second-largest majority, …

Decentralized financial contracts platform UMA has partnered with Decentralized Autonomous Organization (DAO) MakerDAO to release a token tied to the United States stock market, UMA announced in a blog post on March 27. The ERC-20 token, dubbed USStocks, seeks to offer investors access to the U.S. stock market using cryptocurrency. Users can purchase the token using MakerDAO’s own USD-backed stablecoin, Dai (DAI). Decentralized cryptocurrency exchange DDEX is currently the platform of choice for onboarding potential investors. “USStocks is an ERC20 token representing synthetic ownership of an index of the 500 largest exchange-listed US stocks. This means that anybody with access …

Users of Decentralized Autonomous Organization (DAO) MakerDAO (MKR) have voted to raise the so-called stability fee for Maker’s DAI (DAI) stablecoin by 4 percent, according to the results of a recent poll completed on March 21. The firm announced on Thursday that users had voted yes to the proposal to increase the stability fee by 4 percent, from 3.5 percent to 7.5 percent. The reasons provided by the post are that the DAI’s exchange persists under one dollar, high inventory levels among market makers and prop desks, and insufficient impact from the previous fee increase. The MKR token holder could …

Decentralized Autonomous Organization (DAO) MakerDAO (Maker) has upped its demands to increase one of its network fees, this time to 7.5 percent, the company confirmed in a blog post on March 18. Maker, which issues USD-pegged stablecoin Dai (DAI), is seeking to improve the cryptocurrency’s stability. The organization aims to do so by raising its so-called Stability Fee, a charge levied by Maker participants when Dai is used for loans on its network. As Cointelegraph reported, March had already seen a governance poll ask users to approve a fee hike of up to 5.5 percent, which users subsequently approved. A …

Users of blockchain organization MakerDao (Maker) have voted to raise the so-called stability fee for Maker’s Dai (DAI) stablecoin to 3.5 percent, according to the results of a recent poll, completed on March 7. MakerDao, a Decentralized Autonomous Organization (DAO) based on the Ethereum (ETH) blockchain, first opened voting on the matter to users on March. 4. Accordingly, the firm announced on Thursday that users had voted yes to the proposal to increase the stability fee by 2 percent — from 1.5 percent to 3.5 percent — “ until the trend in the [Dai’s] peg has been corrected.” According to …

Decentralized Autonomous Organization (DAO) MakerDao (Maker) will let users vote on whether or not to raise a fee used within its Dai (DAI) stablecoin, the organization confirmed in a blog post on Mar. 4. Dai, which is a USD-backed stablecoin, is different from Maker’s utility token, MKR, which is trading at $678 by press time. The stablecoin DAI is in part used for loans via a structure administered by Maker known as a collateralized debt position (CDP). Now, in order to correct trailing exchange rates for Dai, which have dropped below $1, developers want to introduce a hike in the …

Chief Technical Officer (CTO) of blockchain protocol EOS Dan Larimer has proposed rehauling the project’s existing constitution to limit so-called arbitrators’ powers, in an EOSGov Telegram chat today, June 27. Larimer’s proposal comes in response to recent controversies surrounding the structure of governance on the EOS blockchain, in which three distinct groups work to ‘keep one another in check,’ as defined by the project’s current constitution. These three groups in the EOS ecosystem are the so-called Block Producers (BPs) – the equivalent of miners on the Bitcoin (BTC) blockchain – the arbitrators (EOS Core Arbitration Forum (ECAF)) and Token-Holders. The …

Ethereum Classic (ETC) has now successfully implemented a protocol upgrade that will ensure that mining remains viable in future, according to ETC Block Explorer data yesterday, May 29. The fork, dubbed ECIP-1041, has removed the so-called “Difficulty Bomb” feature from the ETC network at block 5,900,000. The ‘bomb’ was a component of the original Ethereum (ETH) code that was designed to exponentially increase the difficulty of mining to the point where it would become impractically slow, thereby triggering the need to transition to a Proof-of-Stake (PoS) consensus algorithm. This feature has commonly been referred to as the ‘Ethereum Ice Age,’ …

A week-long vote on a proposal in regards to the Parity hack wallet reversal, which proposed to restore a disabled contract to unfreeze 587 wallets holding 513,774.16 Ethereum (ETH), equal to around $360 mln at today’s prices, has ended with a majority “no” vote today, April 24. In November of last year, a Parity user “accidentally killed” the Parity multisig library by activating a vulnerability to become the owner of the library, and then self-destructing it. Prior to that, the library had been “fixed and re-deployed” with the vulnerability after Parity was hacked of around 150,000 ETH in July 2017. …

The first version of the article contained inappropriate statement about ICO tokens and US law. We sincerely apologize for the misunderstanding it might have caused. Startup fundraising, in the traditional VC methodology, was flipped on its head in 2017 when a boom in ICO creation saw hundreds of companies forming on the Blockchain with its attached digital currency being born in the form of an investable token. However, this crowdfunding platform which exploded at a rapid rate has finally been hauled in by regulators and authorities who have noticed a few worrying trends. Bodies like the SEC have had a …