#makerdao

SKY, the native token of DeFi platform Sky (formerly Maker), climbed nearly 10% after the protocol executed a governance proposal that slowed how quickly new tokens are created through staking rewards, expanded its lending system around the USDS stablecoin, and kept up a large buyback program that is pulling tokens out of the market. The governance proposal, which passed Feb. 27 and was executed…

In late 2021, the proposed merger of DeFi DAOs Fei Protocol and Rari Capital aimed to revolutionize the space. Fei’s algorithmic stablecoin and Rari’s permissionless lending pools were to unite under a single DAO, Tribe DAO, approved with overwhelming community support in December. However, nine months later, it collapsed. The Fei-Rari failure was a significant blow, but not the only DAO M&A…

An Ethereum user prevented a potential $340 million liquidation cascade across several MakerDAO positions on Tuesday by injecting collateral just as ETH prices plummeted. One position, nearing its $1,928 liquidation threshold during U.S. trading hours, was saved with a last-minute deposit of 2,000 ETH from Bitfinex, along with repayment of $1.5 million in DAI. The wallet’s intervention was…