Latest Maker updates on February 21st

MakerDAO has had a very busy start to 2023, with lots of updates and new developments. On February 17th, the Maker Protocol proposed four Governance Polls, which included amendments to the Interim Facilitator Appointment Process, as well as allowing for changing communication responsibilities. On the same day, MakerDAO also proposed a Feature to Refund People who send Dai to the Dai Contract Address. Additionally, a loan participation with Cogent Bank, an FDIC-regulated Flow Money Institution, was also proposed. This loan was for $100 million. Furthermore, on February 16th, WSTETH-B hit a new all-time high, with approximately $636 million deposited and 163 million DAI generated. Furthermore, users are now able to send and receive DAI through Arbitrum on Coinbase. All of these new developments are sure to be exciting for the MakerDAO community.

What is Maker ?

MakerDAO is an innovative financial system that is revolutionizing the way people think about money and investing. Through the use of a decentralized, open source platform, MakerDAO provides an unbiased and secure global financial system to its users.

MakerDAO is an Ethereum-based decentralized autonomous organization (DAO) that has created a stablecoin called DAI. DAI is a cryptocurrency that is pegged to the U.S. dollar, meaning it maintains a fixed value relative to the dollar. The goal of MakerDAO is to provide users with a stablecoin that can be used for everyday transactions, investments, and contracts on the Ethereum blockchain.

Unlike other cryptocurrencies, DAI is unique in that it is inflation-proof and is fully backed by collateral assets. This means that users can trust that the value of DAI will remain consistent over time, regardless of market fluctuations. Additionally, MakerDAO provides users with an automated platform for creating and managing smart contracts. These smart contracts can be used to create financial instruments such as loans and derivatives, allowing users to manage their own finances and investments with greater efficiency and security.

MakerDAO is an ambitious project that seeks to bring financial stability to the world. With its secure and decentralized platform, MakerDAO provides users with a secure and cost-effective means of managing their finances and investments. By leveraging smart contracts and the Ethereum blockchain, MakerDAO provides users with an unbiased and transparent financial system that can be trusted.

This article was published on 2023-01-28 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.