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MakerDAO Proposes New DAI Ceiling After Hitting $100 Million Cap

The MakerDAO loan system, administered by the Maker Foundation, hit its debt ceiling Wednesday with roughly $100 million worth of the stablecoin DAI issued and more than $339 million worth of ethereum locked up as collateral. On Thursday, the Maker Foundation proposed a new debt ceiling of 120 million DAI, which will now be voted on by holders of MKR governance tokens. “MakerDAO has hit that limit and no more [DAI] can be generated until that …

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MakerDAO’s Multi-Collateral DAI Token Is Launching Nov. 18

MakerDAO is launching a new version of its programmatic stablecoin DAI next month. MakerDAO Foundation CEO Rune Christensen announced the Nov. 18 launch date at the Devcon ethereum developer conference in Osaka, Japan, on Wednesday. He said the MakerDAO team has been working toward the launch of multi-collateral DAI (MCD) for five years. Currently, users of the decentralized financed (DeFi) platform can borrow DAI tokens after committing ETH as collateral. Now, with MCD, users can stake …

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