Aave Launches DAI Stablecoin Rival on Ethereum
GHO, an algorithmic stablecoin from Aave, has now gone live and is backed by various cryptocurrencies, including Ethereum (ETH). The second-largest decentralized finance (DeFi) system in the world, Aave, has released GHO (pronounced “go”), an overcollateralized decentralized algorithmic stablecoin on Ethereum, after more than a year of development. The GHO stablecoin can be created by […]
Crypto Trading Bot Takes Out $200M Flash Loan
A crypto trading bot programmed to execute arbitrage trades made numerous complex movements within the Ethereum blockchain, including taking out a $200 million flash loan to earn a meager $3.24. On June 14, Arkham Intelligence, a blockchain analysis firm, provided a synopsis of the bot’s movements. According to the company, the transaction was carried out […]
Aavegotchi bonding curve closes on exact day of DAI depeg
Aavegotchi closed the bonding curve defining the exchange rate between its namesake (GHST) and the DAI U.S. dollar-pegged stablecoin. The DAI stablecoin depegged on that same day as a result of the continued destabilization of the Dollar Coin, which was brought on by $3.3 billion in stalled stablecoin collateral deposits owing to its issuer Circle […]
MakerDAO Co-founder Dies At 29 In Puerto Rico
Mushegian was an important figure in the crypto community, contributing to multiple projects, such as MakerDAO, BitShares and Balancer. The local newspaper El Nuevo Día stated that Mushegian drowned after being pulled by water currents to the Condado beach in San Juan. By the time his body was saved, Mushegian showed no indications of life.Considered […]
Rune Christensen Suggests Selling off $3.5 Billion in USDC Reserves
Vitalik Buterin, who is bullish on Ethereum, branded the suggestion made by Rune Christensen a “bad idea.” Recently, Rune Christensen, a co-founder of MakerDAO, suggested eliminating all USDC from the DAI stablecoin’s peg-stability module. He advised that the $3.5 billion of USDC contained inside be utilized to purchase ETH instead. Even though such a transfer […]