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PricesMaker

Maker News

Maker (MKR) was created to support the stability of MakerDAO’s DAI token and enable governance for the Dai Credit System.
  • MakerDAO and DAI. Image: Shutterstock

    Maker Annualized Revenue Soars Past $200M to New All-Time High

    Stablecoin issuer Maker Protocol’s annualized revenue surged to a new all-time high of $203 million yesterday, according to Makerburn.com data. The previous peak was $172.3 million in May 2021. Maker is a stablecoin issuing platform on Ethereum, governed by the MakerDAO community formed of MKR token holders. The supply of the protocol’s stablecoin, DAI, reached a new yearly high of $5.6 billion, per Makerburn.com data. Maker makes money through fees paid by users for borrowing DAI, and fees earn...

    NewsCoins
    3 min read
    Nivesh Rustgi
  • Maker is one of the most popular DeFi protocols around. Image: Shutterstock

    Maker Protocol Revenues Hit 2-Year High of $165M as Interest Rates Soar

    The supply of DAI stablecoin surged to a 5-month high of 5.35 billion, per Makerburn.com data. The steep rise comes amid users, including prominent DeFi entities like Justin Sun and OlympusDAO, rushing to scoop up the increased returns in Maker deposits. Maker is a stablecoin issuing platform on Ethereum and is governed by the MakerDAO community formed of MKR token holders. Alongside rising supply, the protocol’s annualized revenue also hit a two-year high of 165.4 million as the DAI supply incr...

    NewsDeFi
    2 min read
    Nivesh Rustgi
  • A spark. Image: Shutterstock

    Maker Founder Proposes ‘Pre-Farming Airdrop’ for Spark Lending Platform

    Rune Christensen, the founder of Ethereum stablecoin issuance platform Maker, has released an on-chain proposal for a "pre-farming airdrop" of SPK, the governance token of lending dapp Spark Protocol. The proposal, submitted on Wednesday, discusses the token emission schedule of SPK tokens, with a total supply of 2 billion tokens to be distributed over 10 years. Christensen described it as a “pre-farming airdrop” or “retroactive farming” allowing early users of Spark to “secure early SPK tokens....

    NewsCoins
    2 min read
    Nivesh Rustgi
  • MakerDAO

    Stablecoin Deposits on Maker Soar as DAI Interest Rates Hit 8%

    The MakerDAO community has approved and executed a temporary increase in the annual returns for depositing its DAI stablecoin into the protocol. Folks staking the decentralized stablecoin can now enjoy a whopping 8% yield on their holdings. The interest rate earnings on DSR are enabled through Spark Protocol which is not available to non-U.S. users or VPN-linked addresses. The MakerDAO community governs the Maker Protocol which mints the dollar-pegged DAI against over-collateralized deposits of...

    NewsDeFi
    2 min read
    Nivesh Rustgi
  • DeFi has been the center of regulatory attention of late. Image: Shutterstock.

    Ethereum DeFi Heavyweights Compound, Maker Soar Overnight

    Several popular DeFi protocols have enjoyed a steep, overnight rally. The token powering the lending platform Compound has soared more than 4% in the last 24 hours, hitting $63.07, per CoinGecko. Elsewhere, the niche’s decentralized stablecoin minter Maker is also enjoying a bullish rise, with MKR jumping 9% over the same period. Stepping back, and the latest price action comes amid a sustained rise over the past week. Ethereum-based lending protocol Compound (COMP) token topped the weekly gains...

    NewsMarkets
    4 min read
    Nivesh Rustgi
  • Stablecoins came under hefty scrutiny amid 2023's banking chaos. Image: Shutterstock.

    Here Are the Stablecoins That Thrived as USDC Wobbled

    USD Coin (USDC) holders had a long weekend, but fans of several other stablecoins saw a sudden, dramatic spike in the market capitalizations of their favorite projects.  On Friday night, Circle, the company behind USDC, the world’s second-largest stablecoin by market cap, fell from its dollar peg to $0.87 after the company disclosed it held some $3.3 billion in cash reserves in the now-collapsed Silicon Valley Bank (SVB).  Circle was quick to assure people that this exposure was minimal, after a...

    NewsMarkets
    6 min read
    Tim Hakki
  • MakerDAO and DAI. Image: Shutterstock

    MakerDAO Votes to Disable Aave DAI Supply, Reducing Celsius Exposure

    MakerDAO, the organization behind the DAI stablecoin, is set to disable the Direct Deposit Module (D3M) for DeFi lending platform Aave later today. “The Maker Governance has voted to temporarily disable the Aave DAI Direct Deposit Module” tweeted MakerDAO. The governance proposal, put forward earlier this week, invited the community to vote on temporarily disabling D3M for Aave, in order to reduce Maker’s exposure to embattled crypto lending platform Celsius. The proposal was accepted unanimousl...

    NewsDeFi
    3 min read
    Sujith Somraaj

  • Maker DeFi Token Jumps 30% as Users Turn to DAI Stablecoin Amid Terra's Collapse

    While crypto markets staged a rebound Friday morning, the MakerDAO governance token, MKR, was up 30% as investors bet on its DAI stablecoin amid Terra's ongoing collapse. Early Friday, MKR was the eighth-largest DeFi (decentralized finance) token with a market cap of $1.4 billion, according to CoinMarketCap. Meanwhile, DAI had become the fourth-largest stablecoin with a market cap of $6.47 billion. The surge in interest was enough to make MKR the second-largest DeFi token, accounting for 7% of t...

    NewsDeFi
    3 min read
    Stacy Elliott
  • Let go. Image: Shutterstock

    How MakerDAO's Content Team Was Fired by MKR Holders

    In July 2021, one of the first decentralized projects to take hold on Ethereum fundamentally changed the way it did business: Instead of managing development and channeling funds through its foundation, MakerDAO would let holders of the MKR token run the show. "MakerDAO is now completely decentralized," wrote Maker Foundation CEO Rune Christensen in a blog post, announcing the dissolution of the organization he founded. Flash forward six months, and it's clear that MakerDAO members have high exp...

    NewsDeFi
    5 min read
    Jeff Benson
  • US Capitol Building. Image: Shutterstock

    US Lawmakers Fear Cryptocurrency Could Be a 'Financial 9/11', Says Congressman

    Cryptocurrency has been the talk of Washington in recent weeks.  Treasury Secretary Janet Yellen and Fed Chair Jerome Powell are meeting behind closed doors to discuss the dangers of stablecoins. SEC Chair Gary Gensler has said tokenized stocks are securities. And Senator Elizabeth Warren is urging regulation to protect small investors from crypto scams. Rep. Ted Budd (R-NC), a member of the House Financial Services Committee and the Congressional Blockchain Caucus, thinks it's getting overheate...

    NewsTechnology
    3 min read
    Jeff Benson
  • Maker website. Image: Shutterstock

    Ethereum DeFi Pioneer Maker Foundation Is Shutting Down, DAO Will Take Over

    Making good on a promise, Maker Foundation CEO Rune Christensen announced today that the Ethereum-based DeFi protocol he created is now in the hands of others. "MakerDAO is now completely decentralized," Christensen wrote in a blog post, continuing: "The DAO is now self-sufficient and the Maker Foundation has fulfilled its bootstrapping responsibilities. The Foundation will formally dissolve within the next few months." A final Maker Foundation message from CEO Rune Christensen (@RuneKek):https...

    NewsDeFi
    2 min read
    Jeff Benson
  • Maker Foundation is giving funds back. Image: Shutterstock

    Maker Foundation Sends $480 Million to MakerDAO Before It Dissolves

    The Maker Foundation, the organization charged with decentralizing the Maker protocol, today sent 84,000 MKR tokens worth approximately $480 million to MakerDAO. The protocol’s users will now decide what to do with the influx. Maker Foundation, in truly decentralized fashion, is now gearing up to self-destruct by the end of this year, a sign that it views the project, governed by anyone who holds MKR tokens and uses them, as self-sustaining. Perhaps as evidence, the price of MKR has surged 15% i...

    NewsDeFi
    3 min read
    Jeff Benson
  • Maker is one of the most popular DeFi protocols around. Image: Shutterstock

    Maker’s Daily Transfers Hit All-Time High as Price Surges by 50%

    Maker’s transfer volume over the last 24 hours hit an ATH of $11 million, surpassing the former ATH set on 13 August 2020 of $10.9 million, according to metrics site Glassnode. The transfer volume describes the total value of coins transferred on-chain.  Glassnode distinguishes between transfer volume, which involves the transfer of wealth between network participants, and overall trading volume on exchanges, some of which occurs off-chain and also comprises reshuffling between internal wallets....

    NewsMarkets
    2 min read
    Tim Hakki
  • Maker has led the charge in this week's surge in DeFi value. Image: Shutterstock

    DeFi Quietly Breaks Record as Investors Lock Up $15 Billion

    Bitcoin’s price is on an unstoppable race to keep breaking new records—but it isn’t the only crypto project doing well. Today, the total value locked in the decentralized finance (DeFi) industry hit $15 billion, according to DeFi Pulse stats.  DeFi—which exploded last year—refers to non-custodial financial products (mostly built on Ethereum) that want to revamp services like lending and borrowing. The total value locked in means how much money is staked in their smart contracts.  The industry g...

    NewsDeFi
    2 min read
    Mat Di Salvo
  • Decentralized finance, or DeFi, is a set of financial services built using smart contracts.

    What are DeFi loans?

    One of blockchain and cryptocurrency's great promises is to take tools used by the financial industry and make them available to everyone everywhere. The catch-all term for this revolution in how money is made, spent and sent is called DeFi, or decentralized finance.  Like traditional banks, crypto-assets offer all of the same products but in a decentralized form. This includes lending, borrowing, spot trading, and margin trading.  Through DeFi loans, any individual can quickly and easily take o...

  • DeFi is on the rise. Image: Shutterstock

    Crypto Locked in DeFi Tops $8 Billion, Has Doubled Over Last Month

    If the constant headlines and social media chatter didn’t convince you, now we have hard updated numbers showing that decentralized finance (DeFi) continued to soar across the month of August. According to data analytics site DeFi Pulse, the amount of cryptocurrency locked in DeFi app smart contracts passed $8 billion this week, currently sitting at $8.41 billion as of this writing. Over the course of August, the amount of crypto locked within those smart contracts has doubled the amount seen on...

    NewsDeFi
    2 min read
    Andrew Hayward
  • Maker is one of the most popular DeFi protocols around. Image: Shutterstock

    Ethereum locked in Maker hits $1 billion. But for how long?

    Decentralized finance protocol Maker today hit the $1 billion mark of total value locked (TVL) into its smart contracts.  The “value locked in” refers to the amount of money running through its smart contracts to be used for lending. Crypto data provider Messari said today that Maker is the first DeFi protocol to reach the $1 billion TVL milestone, lead in large part by the "liquidity mining" shake-up otherwise known as "yield farming."   Maker is now the third-largest DeFi token by market cap,...

    NewsDeFi
    3 min read
    Mat Di Salvo
  • Image: Shutterstock

    Kyber's KNC joins list of collateral assets on DeFi protocol Maker

    DeFi protocols are growing more intertwined by the day. Protocol tokens from token swap platforms Kyber Network and 0x will be accepted as collateral assets on Maker’s crypto-backed loan platform following a successful Executive Vote concluded Sunday. It’s a recognition of the growing value of DeFi protocol tokens, and a testament to the versatility of the Maker platform, where just about any asset can be considered for inclusion to provide loan collateral. The addition of Kyber’s KNC and 0x’s...

    NewsDeFi
    3 min read
    Alexander Behrens
  • Image: Shutterstock

    PieDAO releases USD++ for better stablecoin holdings

    There’s a new way to try to mitigate the risk of holding dollar-pegged stablecoins. PieDAO, the decentralized organization building diversified token pools on the Balancer protocol, announced the mainnet release of its USD++ pool on Tuesday. The pool combines several of the top USD-pegged stablecoins into one tradable token. It’s another example of a creative use case of the rapidly growing Balancer protocol—and of the expanding universe of ideas DAOs are working to address. The USD++ pool will...

    NewsCoins
    2 min read
    Alexander Behrens
  • Image: Shutterstock

    Compound is the new king of DeFi after just one day of COMP trading

    The rapidly growing decentralized finance industry has a new top crypto. Compound’s COMP token went live for trading yesterday, and it has already overtaken Maker, the previous king of DeFi, in market capitalization by a wide margin.  COMP not only surpassed MakerDAO, it now has close to twice as much total market cap at roughly $859 million versus $551 million, according to DeFi data tracking website DeFiMarketCap. What’s more, the addition of COMP to the ranking has sent the total market capit...

    NewsCoins
    2 min read
    Jaime Chacon
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