Crypto venture firm Paradigm has obtained $3.6 million worth of MKR tokens in the recently held auction by Maker.

The MakerDAO (MKR) auction to recover DAI collateral debt is almost complete, though the procedure suffered some technical setbacks. The community largely remains optimistic about Maker’s handling of the situation, as many took the opportunity to scrutinize and fix other potential issues.

MakerDAO is a peer-to-contract platform enabling over-collateralized loans by locking ether in a smart contract and minting Dai, a stablecoin pegged to the US dollar. MKR is the governance token of the MakerDAO organization enabling its holders to vote on the project’s future.

Maker’s current price, at the time of this writing, is $333.62 USD, up by approximately 2.57% from the day prior. This marked the the 2nd day in a row Maker has been up; it is still in a unclear trend, and is currently 13.24% above its 20 day moving average; staying above this level may be critical to sustain short-term momentum. To help contextualize yesterday’s price move, we can observe that price has rallied 5 of the past 10 days. Another data point we may find worthy of observation is that price for Maker has increased 5 of the previous 10 days.

MakerDAO, an automated lending dApp, has become the most successful project yet in Ethereum’s rising decentralized finance sector. That’s largely thanks to the Maker Foundation, a non-profit organization that’s served as an early and apt steward of the dApp and its stablecoin, the Dai.

On March 12th, the price of ETH and crypto-assets experienced a significant drawdown in what many of us know as “Black Thursday”.

In a move toward further decentralization, the Maker Foundation has given the Maker governance community 100% control of the Ethereum-based MKR token contract.

The Maker Foundation will start transferring the governance power and risk management capacity to the community in the next few years. As the first step, it will release an initial draft of the new governance paradigm for the community to vote on.

At the time of this writing, Maker has a price of $318.88 USD, which puts it up by approximately 6.36% from yesterday. Yesterday’s up day is a reversal of the day before it; in terms of trend, though, note that the current price is now 10.6% above its 20 day moving average, and is currently in a unclear trend over the past 14 days. From another vantage point, note that price has gone up 5 of the past 10 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 67.04% less than its 7 day average volume.

A recent tweet by MakerDAO’s founder, Rune Christensen, highlighted that they will make three major operational changes:

One of the leading Bitcoin gaming platforms in terms of innovations, Bitcasino.io, has upgraded its services with another great browser extension, TronLink. By integrating a safe, professional and comprehensive TRX wallet, players will from now be given an option to deposit and withdraw with TRON.

San Francisco-based Paradigm, a digital asset investment firm, is reportedly the biggest winner of several MKR governance token auctions which were meant to cover about $4.5 million of undercollateralized debt. The auctions, which took place between March 19 and March 28, 2020, managed to raise… Read More

The Maker Foundation took a big step toward relinquishing authority over the DeFi lending platform by turning full control of the MKR governance token over to hol...

MakerDAO, the “decentralized” bank, went through a mass liquidity crisis. But Maker’s problems extend beyond a single shock⁠—centralization left them doomed from the start.

Using crypto to borrow crypto used to be very tricky. Since most crypto assets fluctuate so wildly, the amount someone borrowed in crypto and the amount someone had to pay back could be wildly different over a short period of time. That's where MakerDAO comes in. By combining loans with a stable currency, MakerDAO wants to allow anyone to borrow money and reliably predict how much they had to pay back.

MakerDAO announced that the control over its Maker MKR, 13.00% tokens would be passed over to the community on December 20th, shortly after its Multi-Collateral Dai protocol has seen the light of day. To make the transition of governance from the Foundation to the owners of MKR tokens as smooth as possible, the foundation declared it would share control over the smart contracts for at least one month. On January 10th, the ‘MkrAuthority’ contract was deployed on the Ethereum mainnet and only three days later, the foundation changed the MKR token’s authority address to that of the MkrAuthority.

The crypto industry is young, and in emerging tech, a handful of companies often lead the charge. For those holding equity in these companies, this is generally considered something to be encouraged. For everyone else, it is not.

MakerDao had hit a major low and there were concerns with the DeFi behemoth’s future. How has MakerDao responded to the situation? Altcoin Buzz takes a closer look.

It has already been known that The Maker Foundation plans to completely transfer its governance power to the community over the next two years, but during the last Governance & Risk meeting, the Maker MKR, -1.95% founder Rune Christensen presented a first outline of how the Foundation envisions the self-sustaining DAO’s framework. Christensen believes that the ecosystem’s dependence on the foundation is not sustainable in the long term and that the foundation needs to accelerate its dissolution and transfer of its risk management capacity to the community. Nevertheless, it could take years before the Maker Foundation completely dissolves, since the foundation wants to ensure that its dissolution will not have a negative impact on the system by overseeing the governance design and knowledge transfer process for some more time.

MakerDAO will be able to cover its loss in the Ethereum DeFi sector after raising $5.3 million in an auction. MakerDAO sold tokens of the platform, MKR, to interested buyers. In addition, it was learned that about 20,000 MKR tokens were sold at an estimated price of $292.