DeFi has been gaining popularity in the crypto space, despite the massive volatility that we can see in the market.
An interesting and exciting thing is happening in the crypto space, and no one seems to notice. MakerDAO stopped going down. Check out the latest reports about this below.
MakerDAO exciting news is revealed
Take a look at this exciting tweet 9involving the project Maker DAO:
The next level of DeFi will be set up by @MakerDAO.
1. $100M vault by a commercial bank
2. $500M allocation to US treasuries + IG bonds
3. $5B PSM
4. Unprecedented community/voter participation
Per usual, Maker’s bear market experiments will set up the rest of DeFi for a bull.
— Yano 🟪 (@JasonYanowitz) July 5, 2022
At the moment of writing this article, DAO is trading in the green and it’s priced at $1.25.
MakerDAO in the news
The project has been making headlines all year.
At the beginning of this year, we were revealing that MakerDAO’s high stability means that it could easily replace the US dollar.
The United States dollar is a currency that is currently being used across the world.
Rather than just being confined to use in America, it’s the national currency of over 10 countries, with almost a dozen also using it unofficially and accepting it in various shops and businesses.
This is due to the stability of the dollar.
Thanks to it being pegged to the biggest economy on Earth, the dollar is an incredibly stable and strong currency, which makes it a great fit for growing economies that need consistency. However, the US dollar could be shifted from its spot by MakerDAO’s Stablecoin.
It’s also important to note the fact that MakerDAO’s Stablecoin is run by the community, with all monetary policy controlled by those with a vested interest. This means that the currency will always follow rational decisions made for the benefit of users.
In order to check out more details about the project, make sure to check out our previous article.