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DeFi Startup Compound Finance Raises $25 Million Series A Led by A16z

Lending protocol Compound Finance just raised $25 million in a round led by Andreessen Horowitz’s a16z crypto fund, marking one of the largest venture capital investments in a decentralized finance (DeFi) startup to date. According to DeFi Pulse, Compound has nearly $103 million worth of crypto locked up in its automated system, which can generate returns for users comparable to interest. Today’s announcement of the Series A follows Compound’s $8.2 million seed round in 2018. …

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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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Nasdaq Lists New Decentralized Finance Index Including MakerDao, 0x, Augur

Nasdaq has added a new index that aims to offer the markets information on blockchain projects working in the decentralized finance (DeFi) space. Called Defix, the index was launched by the London-based Exante brokerage – an early mover in the crypto industry that launched a bitcoin fund in 2012. Offered as a means for investors and traders to track “popular” defi-focused blockchain tokens, Defix lists projects including MakerDao, Augur, Gnosis, Numerai, 0x and Amoveo. The index …

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