DeFi Leader MakerDAO Weighs Emergency Shutdown Following ETH Price Drop
A large drop in the price of ether is testing the feasibility of Ethereum's entire system of lending and borrowing.
Lending
Crypto Lender Cred Is Offering Investors 10% Interest With Spencer Dinwiddie Partnership
Mar 20, 2020
Crypto investors can "pledge" five different cryptos, including two stablecoins, to Cred and earn up to 10 percent interest in a new partnership with NBA star Spencer Dinwiddie.
MakerDAO has added a third asset to its decentralized finance (DeFi) platform, USD Coin (USDC), in response to the system’s flagship stablecoin, dai, continuing to float above its dollar peg.
Crypto Lender Celsius Taps Chainlink’s Price Oracles for Interest Rate ‘Decentralization’
Mar 30, 2020
Celsius Network has teamed up with oracle provider Chainlink to make the price feeds it uses to calculate asset interest rates less centralized.
So many people were trying to use the Ethereum blockchain during Thursday’s market meltdown that many applications simply stopped working as intended.
MakerDAO is not pursuing its emergency shutdown option although the amount of uncollateralized dai continues to grow.
Lending
Mind the Gap: Why ETH Price and DeFi Adoption Aren’t in Sync
Demand for DeFi lending services built on ethereum shows a pattern of inverse relationship to the price of ETH. When ether prices are falling, the amount of ETH locked in DeFi tends to rise. Most recent data indicate the relationship operates the other way, too.
