Decentralized Finance (DeFi) surges as Total Value Locked (TVL) achieves new yearly high
The total value locked (TVL) across decentralized finance protocols has soared to a new yearly peak of $52 billion. This achievement marks a significant recovery for the DeFi sector, which faced uncertainty following the collapse of FTX and other major players in November 2022. Since the beginning of 2023, the TVL in the DeFi sector […]
Solana co-founder Anatoly Yakovenko calls MakerDAO’s consideration of Solana tech a “win for open source”
In a recent tweet, Anatoly Yakovenko, the co-founder of Solana, weighed in on MakerDAO’s consideration of Solana’s technology for its upcoming native chain, NewChain. Yakovenko emphasized that the move should be viewed as a victory for the open-source community rather than a competitive edge over Ethereum. His tweet comes on the heels of MakerDAO co-founder […]
MakerDAO co-founder proposes a Solana fork for NewChain development
Rune Christensen, the co-founder of MakerDAO, proposed a significant shift in the project’s technological foundation. Christensen suggested that MakerDAO’s upcoming native chain, known as “NewChain,” should be developed using a fork of Solana’s codebase rather than the Ethereum Virtual Machine (EVM). This proposal comes despite MakerDAO’s long-standing association with Ethereum. The rationale behind the proposal […]
MakerDAO urgently requests proposal to mitigate risks to protocol amidst USDC depegging
On March 11, MakerDAO issued an “urgent executive proposal” to mitigate any risks to the protocol associated with its USDC tail risk exposure. Make DAO has over 3.1 billion USDC in collateral backing its DAI stablecoin. This urgent executive proposal comes on the heels of an extraordinary de-pegging of the USD Coin (USDC) stablecoin, which […]