• Latest
  • Trending
  • All
  • Litecoin
  • Ethereum
  • Market
One Wallet Owns 27% of Ether Behind MakerDAO’s Sai Stablecoin

One Wallet Owns 27% of Ether Behind MakerDAO’s Sai Stablecoin

January 26, 2020
White House office seeks public opinion on crypto-climate implications

White House office seeks public opinion on crypto-climate implications

March 26, 2022
Love it or hate it, crypto’s vibe shift is now imminent

Love it or hate it, crypto’s vibe shift is now imminent

March 26, 2022
Save on your hotel - hotelscombined.com
ADVERTISEMENT
BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

March 26, 2022
Cryptocurrency Adoption to Grow Significantly This Year in Latam – Bitcoin News

Cryptocurrency Adoption to Grow Significantly This Year in Latam – Bitcoin News

March 26, 2022
Crypto Market Cap Reclaims $2 Trillion as Bitcoin Touched $45K (Weekend Watch)

Crypto Market Cap Reclaims $2 Trillion as Bitcoin Touched $45K (Weekend Watch)

March 26, 2022
3 Metrics to Analyze GameFi Projects

3 Metrics to Analyze GameFi Projects

March 26, 2022
PUBG Developer Krafton Partners With Solana Labs to Build Blockchain Games and Services – Bitcoin News

PUBG Developer Krafton Partners With Solana Labs to Build Blockchain Games and Services – Bitcoin News

March 26, 2022
Coinbase to track off-platform crypto transfers in Canada, Singapore, Japan

Coinbase to track off-platform crypto transfers in Canada, Singapore, Japan

March 26, 2022
Nevada Man Pleads Guilty In $722 Million Bogus Crypto Investment

Nevada Man Pleads Guilty In $722 Million Bogus Crypto Investment

March 26, 2022
Luxury Italian Retailer Michele Franzese Moda Reveals Fashion Brand Accepts Crypto Payments – Bitcoin News

Luxury Italian Retailer Michele Franzese Moda Reveals Fashion Brand Accepts Crypto Payments – Bitcoin News

March 26, 2022
Decentralization, DAOs and the current Web3 concerns

Decentralization, DAOs and the current Web3 concerns

March 26, 2022
Behind the bipartisan crypto bill that’s coming to Congress

Behind the bipartisan crypto bill that’s coming to Congress

March 26, 2022
  • About Us
  • Privacy Policy
  • Newsletter
  • Contact Us
Monday, May 23, 2022
Crypto Top News
Save on your hotel - hotelscombined.com
  • Home
  • Altcoin
    Bitcoin at $44.9k as ETFs touch new highs, altcoins continue green rampage

    Bitcoin at $44.9k as ETFs touch new highs, altcoins continue green rampage

    5 “next bitcoins” that weren’t

    5 “next bitcoins” that weren’t

    Where Does Bitcoin Stand With Depleting Dollar Dominance

    Where Does Bitcoin Stand With Depleting Dollar Dominance

    Crypto Corner: The Sports Slice

    Crypto Corner: The Sports Slice

    Polygon (MATIC) suffers network outage sparking a wave of angry users

    Polygon (MATIC) suffers network outage sparking a wave of angry users

    Goldman Sachs Will Now Offer Its Clients Ethereum Funds Via Galaxy Digital

    Goldman Sachs Will Now Offer Its Clients Ethereum Funds Via Galaxy Digital

    Kava adds EVM support to the network with Ethereum co-chain alpha launch

    Kava adds EVM support to the network with Ethereum co-chain alpha launch

    Crypto Corner: The Sports Slice

    Crypto Corner: The Sports Slice

    Fantom Foundation Responds To Andre Conje’s Departure

    Fantom Foundation Responds To Andre Conje’s Departure

    Total amount of Luna tokens staked down 62% from ATH even amid massive price rally

    Total amount of Luna tokens staked down 62% from ATH even amid massive price rally

  • Bitcoin
    White House office seeks public opinion on crypto-climate implications

    White House office seeks public opinion on crypto-climate implications

    BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

    BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

    Cryptocurrency Adoption to Grow Significantly This Year in Latam – Bitcoin News

    Cryptocurrency Adoption to Grow Significantly This Year in Latam – Bitcoin News

    PUBG Developer Krafton Partners With Solana Labs to Build Blockchain Games and Services – Bitcoin News

    PUBG Developer Krafton Partners With Solana Labs to Build Blockchain Games and Services – Bitcoin News

    Nevada Man Pleads Guilty In $722 Million Bogus Crypto Investment

    Nevada Man Pleads Guilty In $722 Million Bogus Crypto Investment

    Luxury Italian Retailer Michele Franzese Moda Reveals Fashion Brand Accepts Crypto Payments – Bitcoin News

    Luxury Italian Retailer Michele Franzese Moda Reveals Fashion Brand Accepts Crypto Payments – Bitcoin News

    APENFT Marketplace Makes NFT Drops in the TRON Ecosystem Accessible – Press release Bitcoin News

    APENFT Marketplace Makes NFT Drops in the TRON Ecosystem Accessible – Press release Bitcoin News

    DOJ Charges Two People in Million-Dollar Scheme to Defraud Investors – Regulation Bitcoin News

    DOJ Charges Two People in Million-Dollar Scheme to Defraud Investors – Regulation Bitcoin News

    After years of doubts and concerns, it is finally Bitcoin’s time to shine

    After years of doubts and concerns, it is finally Bitcoin’s time to shine

  • Cryptocurrency
    • Ethereum
    • Litecoin
  • Blockchain
    Decentralization, DAOs and the current Web3 concerns

    Decentralization, DAOs and the current Web3 concerns

    MIT adds the Bank of England to its stable of CBDC digital currency research partners

    MIT adds the Bank of England to its stable of CBDC digital currency research partners

    Learn about Web3 and how it aims to transform internet services

    Learn about Web3 and how it aims to transform internet services

    European crypto regulatory framework goes to three-way consideration without PoW ban

    European crypto regulatory framework goes to three-way consideration without PoW ban

    Jamaica’s central bank digital currency and the problems it hopes to solve

    Jamaica’s central bank digital currency and the problems it hopes to solve

    LG Electronics adds blockchain and crypto as new areas of business

    LG Electronics adds blockchain and crypto as new areas of business

    Powers On… Biden accepts blockchain technology, recognizes its benefits and pushes for adoption – Cointelegraph Magazine

    Powers On… Biden accepts blockchain technology, recognizes its benefits and pushes for adoption – Cointelegraph Magazine

    IOSCO says DeFi is quickly evolving and ‘cloning financial markets’

    IOSCO says DeFi is quickly evolving and ‘cloning financial markets’

    Stargate Finance attracts $1.9B in six days

    Stargate Finance attracts $1.9B in six days

  • Regulation
    Love it or hate it, crypto’s vibe shift is now imminent

    Love it or hate it, crypto’s vibe shift is now imminent

    Coinbase to track off-platform crypto transfers in Canada, Singapore, Japan

    Coinbase to track off-platform crypto transfers in Canada, Singapore, Japan

    Behind the bipartisan crypto bill that’s coming to Congress

    Behind the bipartisan crypto bill that’s coming to Congress

    US Treasury Secretary Janet Yellen says upcoming crypto regulations will nourish healthy innovation

    US Treasury Secretary Janet Yellen says upcoming crypto regulations will nourish healthy innovation

    Secretary Yellen recognizes ‘benefits of crypto’ despite lingering skepticism

    Secretary Yellen recognizes ‘benefits of crypto’ despite lingering skepticism

    Crypto tax policy framework passes India’s parliament despite pushback from lawmakers

    Crypto tax policy framework passes India’s parliament despite pushback from lawmakers

    US senators Lummis, Gillibrand reveal working on bipartisan crypto legislation

    US senators Lummis, Gillibrand reveal working on bipartisan crypto legislation

    Finally, a proof of work ban is off the table in Europe

    Finally, a proof of work ban is off the table in Europe

    Korean crypto exchanges are now in compliance with the Travel Rule

    Korean crypto exchanges are now in compliance with the Travel Rule

  • Market
    3 Metrics to Analyze GameFi Projects

    3 Metrics to Analyze GameFi Projects

    Coinbase to Label Some Assets as ‘Experimental’ In Bid to Boost Transparency

    Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

    ‘We Have Entered a Period of Pain,’ Says WazirX CEO of India’s New Tax Laws

    ‘We Have Entered a Period of Pain,’ Says WazirX CEO of India’s New Tax Laws

    White House Wants Public Comments on Crypto’s Energy Use and Environmental Impact

    White House Wants Public Comments on Crypto’s Energy Use and Environmental Impact

    Greener Bitcoin Mining Could Be China’s ‘Trillion-Dollar Present’ to the US

    Greener Bitcoin Mining Could Be China’s ‘Trillion-Dollar Present’ to the US

    Bitcoin Tops $44K Amid Rumors of Terra's LFG Accumulating BTC

    Bitcoin supera los $44.000 entre rumores de compra de BTC por parte de Fundación Terra

    Bitcoin Outperforms as Crypto Bulls Take a Breather

    Bitcoin Outperforms as Crypto Bulls Take a Breather

    4 Reasons Why Bitcoiners Should Pass on El Salvador’s Bitcoin Bond

    4 Reasons Why Bitcoiners Should Pass on El Salvador’s Bitcoin Bond

    Bitcoin Faces Initial Resistance at $46K; Support at $42K

    Bitcoin Faces Initial Resistance at $46K; Support at $42K

  • Prices
  • ICO
  • Travel Websites
No Result
View All Result
Crypto Top News
No Result
View All Result
Home Ethereum

One Wallet Owns 27% of Ether Behind MakerDAO’s Sai Stablecoin

by Admin
January 26, 2020
in Ethereum
0
One Wallet Owns 27% of Ether Behind MakerDAO’s Sai Stablecoin
728*90
ADVERTISEMENT



Of all the Ether (ETH) locked in the collateralized debt positions (CDPs) of the old MakerDAO system, 27% belongs to a single Ethereum address. Financial technology data firm Digital Assets Data shared these findings with Cointelegraph on Jan. 26.

Dai, which was created by MakerDAO, allows users to borrow or generate the stablecoin by staking their cryptocurrency holdings as collateral. Dai was not supported with bank accounts of reserve currencies but rather is generated by putting Ether into a CDP smart contract.

In November 2019, the Dai stablecoin reached its 100 million token debt ceiling and introduced multi-collateral Dai (MCD) that can be backed by multiple assets.

The old, single-collateral Dai — Dai that generated only with Ether — became known as “Sai,” while the new MCD is now referred to as “Dai.” CDPs for different assets were rebranded as “vaults” i.e. Ether is stored in an Ether vault, while Basic Attention Tokens (BAT) are stored in a BAT vault. 

MakerDAO’s ecosystem growth

According to Digital Assets Data, about 155,000 CDPs were initiated on the old version of the Maker protocol and 77% of those held under 0.05 ETH. Brandon Anderson, a data science lead at Digital Assets Data, told Cointelegraph:

“There is one address that maintains 27% of the value locked in CDP’s. Likewise, the new Vaults system has a similar distribution, with one address holding 15% of the value locked. As Maker continues to grow, we will see how these distributions play out and if there is more adoption within the lower bins.”

Anderson added that these addresses are not necessarily a single entity:

“It is possible that one or more of those addresses could be smart contracts that contain ETH as a part of MakerDAO, and do not represent a single entity. Without a significant amount of additional research, we cannot commit to singling out/identifying these addresses.”

He concluded that, while there are large players that likely control a disproportionate amount of locked Ether in the ecosystem, the amount of total locked assets has increased over time and “these protocols are indeed open to anyone that wants to participate.”

Over 3,500 vaults have been created with the new system, most of which hold over 1 ETH, according to Digital Assets Data.

Ether locked in DeFi applications reaches an all-time high

As Cointelegraph reported in late November 2019, the number of Ether locked in decentralized finance (DeFi) applications reached an all-time high of 2.7 million ETH, according to DeFi monitoring resource DeFiPulse, and has been steadily growing since the end of June.

As of press time, DeFiPulse shows that the total value of funds locked in DeFi applications reached $793.1 million (an all-time high of 3.2 million ETH), of which over 57% ($453.5 million, an all-time high 2.5 million ETH) is in the MakerDAO system.





Source link

300*250
ADVERTISEMENT
Admin

Admin

300*250
ADVERTISEMENT
300*250
ADVERTISEMENT
300*250
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Circle Captures $440 Million in Financing, Rumors of SPAC Deal Follow – Finance Bitcoin News

Circle Captures $440 Million in Financing, Rumors of SPAC Deal Follow – Finance Bitcoin News

May 29, 2021
Grayscale Parent Company to Purchase Ethereum Classic Trust Shares Worth $50 Million

Grayscale Parent Company to Purchase Ethereum Classic Trust Shares Worth $50 Million

June 22, 2021
Spain’s Largest Asset Managers Still Reluctant to Invest in Cryptocurrencies – News Bitcoin News

Spain’s Largest Asset Managers Still Reluctant to Invest in Cryptocurrencies – News Bitcoin News

May 29, 2021
White House office seeks public opinion on crypto-climate implications

White House office seeks public opinion on crypto-climate implications

0
Ethereum Plunges 10% in 48 hours

Ethereum Plunges 10% in 48 hours

0
Public vs Private Blockchain | Ernst & Young’s New Blockchain Prototype

Public vs Private Blockchain | Ernst & Young’s New Blockchain Prototype

0
White House office seeks public opinion on crypto-climate implications

White House office seeks public opinion on crypto-climate implications

March 26, 2022
Love it or hate it, crypto’s vibe shift is now imminent

Love it or hate it, crypto’s vibe shift is now imminent

March 26, 2022
BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

BTC, ETH Begin Weekend Close to Key Resistance Levels – Market Updates Bitcoin News

March 26, 2022
Crypto Top News

Copyright © 2019 cryptotopnews.com

Navigate Site

  • About Us
  • Privacy Policy
  • Newsletter
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Cryptocurrency
    • Ethereum
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
  • Travel Websites

Copyright © 2019 cryptotopnews.com

  • bitcoinBitcoin (BTC) $ 30,492.00
  • ethereumEthereum (ETH) $ 2,072.66
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 332.87
  • usd-coinUSD Coin (USDC) $ 1.00
  • xrpXRP (XRP) $ 0.426855
  • cardanoCardano (ADA) $ 0.552853
  • binance-usdBinance USD (BUSD) $ 1.00
  • solanaSolana (SOL) $ 53.86
  • polkadotPolkadot (DOT) $ 10.48