- Maker announced that DAI and MKR would be reformed.
- DAI may not be able compete with USDT, despite its plans to increase supply.
The plan is to MakerDAO’s [MKR] The project may be abandoned if the death of co-founder Rune Christiansen occurs. upgrade Its governance token is a decentralized stablecoin DAI. AMBCrypto read the Christensen memo wrote On the 12th March, I will be speaking to the Maker community.
Endgame is the most important part of the Endgame. It aims at increasing DAI’s supply from 5.35 billion to 100 milliards and beyond. DAI was currently at 5.35 billion.
Upgraded versions do not appear to be the answer
Maker Team to Launch in May 2023 introduced Endgame can be used to help support DAI. The mission of the Endgame was to compete with other stablecoins, such as USDT. The stablecoin hasn’t changed since then.
Maker says that an improved MKR or DAI will bring it nearer to its goals. This would mean that if DAI were to receive a 100-billion supply the value of this stablecoin may jump.
This forecast doesn’t mean other stablecoins, like USDT or USDC, which are much higher than it will remain static. As of press time, MakerDAO Total Value Locked’s (TVL), had risen by 20.32 % in the past 30 days.
TVL is a measure of the general health and performance of a protocol. This increase suggests that the participants in the market are expecting a higher return on their deposit.
DAI, however, has lagged behind when it comes to stablecoins. Use data from DeFiLlamaAMBCrypto observed that some participants were bridging the stablecoin. Ethereum [ETH], Arbitrum [ARB]The same goes for.
The changes over the past seven days have been insignificant, showing that participants are not interested in making a change. DAI should increase its volume fail The stablecoin may not rise any higher. “king” It is only in the smaller market that the decentralized marketplace exists.
Both traction and the development of a vehicle are affected by the same drop
We also checked to see if MakerDAO was making any efforts with regards to development. Santiment says that development activities jumped up on the 11th March.
This metric is increasing when developers ship new features. At press time development was down, indicating that the upgrade of the network has slowed. This decrease is also implied MKR might not yet be the time to get bullish.
AMBCrypto also examined the growth rate of their network. By tracking how many new addresses are involved with first-time transfers, the network growth demonstrates user adoption.
Here’s a list of realistic and not-so-realistic images. DAI’s market cap in MKR terms
It would indicate a growing interest in the Maker eco-system if this metric increased. This decrease indicates that traction has decreased on the network.
Market players should continue to monitor DAI and MKR in order to determine if any impact will be felt by the proposed or possible approval on these cryptocurrencies.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com