DAI is 1 year old, Basis stablecoin shuts down and returns funds, negative financial market sentiment.
|Dec 19 at 8:45 pm||Public post|
Thank you to everyone that made it out to the Blockcast Media Workshop on Sunday. It was exciting to help onboard the next wave of new users to blockchain tech! There is no scheduled date for the next workshop, however we will be taking suggestions! Contact me at email@example.com for more details.
Happy first birthday to MakerDAO’s release of the DAI stablecoin. It has been through a lot since its launch on December 17th. It has maintained its $1 USD peg after a roller coaster ride of ETH all time highs at $1400 USD all the way down to $80 USD. Definitely proves that something is working!
**If you have no idea what I’m talking about or what DAI/stablecoins are, here is a great article you can read about why this project is so important to the blockchain ecosystem: “MakerDAO: The Decentralized Global Reserve Bank”
Speaking of DAI, there is a proposal to reduce the stability fee from 2.5% down to 0.5% due to the demand for DAI. The stability fee is similar to the interest you pay on a loan.
The Basis stablecoin project is shutting down and returning its capital that it raised back to investors. They did not specifically state the reason why, but speculation is that it was regulatory.
Forbes is warning us to be prepared for a bear market panic crash. There are 5 serious problems making this much more likely now in this market. Former Federal Reserve Chair Janet Yellen also echos the same sentiment.
More news below!
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