Express

MakerDAO Avoids Shutdown, To Auction MKR Covering $4M In Bad Debt

Summary: MakerDao, one of the largest decentralized finance (DeFi) projects on Ethereum, will begin the auction of MKR governance token in two days – a step forced by the recent freefall of Ethereum. The auction was triggered as the under-collateralized debts on the platform reached $4 million and is a step taken for the first time in the ...

MakerDao, one of the largest decentralized finance (DeFi) projects on Ethereum, will begin the auction of MKR governance token in two days – a step forced by the recent freefall of Ethereum. The auction was triggered as the under-collateralized debts on the platform reached $4 million and is a step taken for the first time in the history of the project. The platform will programmatically mint and set the MKR tokens 50,000 DAI increments. All the funds will be utilized to cover outstanding bad debts.

Tracy Chen

Last Update:

Tags: ,
Link: MakerDAO Avoids Shutdown, To Auction MKR Covering $4M In Bad Debt   [Copy]
Next:

Related Articles

  • GAEA Chat Singapore Concludes Successfully - A Recap of the Industry Thought Feast Duri... 10 days ago
  • U.S. SEC Clears Path for Institutional Crypto Custody, Recognizing State Trust Companie... 15 days ago
  • BTC Weekly Watch: Is the Rebound "Feast" Nearing Its End? 29 days ago
  • ​The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? September 9, 2025
  • Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules September 5, 2025

    • You need to login to comment.