Share this article
MakerDAO Adds Chainlink, Compound, Loopring as Collateral Options
MakerDAO has voted to add support for a trio of new tokens for the decentralized finance (DeFi) loans that generate DAI stablecoins.
Updated Dec 11, 2022, 2:18 p.m. Published Sep 30, 2020, 10:22 p.m.
Make us preferred on Google
The MakerDAO community has voted to add support for a trio of new tokens for the decentralized finance (DeFi) loans that generate DAI stablecoins.
Vaults are now open for deposits of Chainlink’s LINK, Loopring’s LRC and Compound’s COMP. Community members pitched proposals to add the tokens this summer and voted for their integrationhttps://vote.makerdao.com/executive-proposal/approve-september-2020-governance-cycle-bundle--september-28-2020 via Maker’s on-chain governance platform this week.
Counting this new crop of collateral options, MakerDAO has added 11 new DAI vault pairs this year. The other tokens, MANA, WBTC, ZRX, KNC, TUSD, PAX, USDC and USDT, were added partly in response to DAI losing its $1 peg, as the extra collateral was meant incentivize collateralizing more DAI to drive its price down.
In a recent bid to rectify DAI’s peg instability during DeFi’s yield farming craze, the Maker community voted in a proposal to lower the collateralization requirements for DAI’s primary USDC vault to pump more DAI into the market. Since the proposal’s implementation, DAI’s price has dropped to $1.01.
Read more: 'No Other Option but More Collateral': The Short- (and Long-) Term Fixes for Dai’s Broken Peg
Speaking to CoinDesk about proposals to keep DAI’s peg steady, MakerDAO founder Rune Christensen said there is “no other option but to onboard more collateral.”
Currently, USDC is the most popular collateralization option for DAI with 372 million USDC locked.
Mehr für Sie
Sam Altman's World teams up with Coinbase to prove there is a real person behind every AI transaction
World said some estimates suggest agentic commerce could reach $3 trillion to $5 trillion by 2030, with agents accounting for up to 25% of U.S. e-commerce.
Was Sie wissen sollten:
- World, an identity project cofounded by Sam Altman, has launched AgentKit, a toolkit that lets AI agents carry cryptographic proof they are backed by a unique human via the World ID system.
- By integrating with Coinbase and Cloudflare’s x402 protocol for stablecoin micropayments, AgentKit aims to make AI agents verifiable economic participants rather than suspicious automated traffic.
- AgentKit links multiple agents to a single verified person using zero-knowledge proofs and, for now, Orb-based biometrics, enabling platforms to cap usage per human and positioning World as a foundational identity layer for an AI-driven web.
Top Stories
