Cointime

Cointime

Download App
iOS & Android
Home / JUST IN

MakerDAO Votes to Keep Gemini USD in DAI Stablecoin’s Reserves

Decentralized finance giant MakerDAO’s community voted for keeping Gemini USD (GUSD) stablecoin as part of the protocol’s reserve system for its DAI stablecoin in a dramatic vote that flipped at the finish line.

In a poll that concluded Thursday, 50.85% of the votes favored keeping the GUSD debt ceiling at $500 million level in Maker’s Peg Stability Module (PSM), while 49.15% voted for decreasing to zero. The result means GUSD will remain as a reserve asset for Maker’s $5 billion DAI.

Up until the very end of the voting, votes favoring removing GUSD from the PSM led the tally.

Crypto investors have worried that Gemini’s woes may affect GUSD stablecoin and spread to Maker’s $5 billion DAI stablecoin too.

MakerDAO Gemini
Comments

All Comments

Recommended for you

  • Nobel laureate in economics: Stablecoins are “under-regulated” and governments could be forced to provide billions of dollars in bailouts if they collapse in a financial crisis

    Jean Tirole, the Nobel Prize winner in economics, warned that the "lack of regulation" of stablecoins could force governments to provide billions of dollars in assistance if these tokens collapse in future financial crises. 

  • BTC falls below $111,000

     the market shows BTC falling below $111,000, now reporting $110,982.89, a 24-hour decline of 1.99%, with significant market fluctuations, please manage risks.

  • BitradeX Officially Enters CertiK Global Top 50 Rankings at 36th Place, Security Strength Receives Authoritative Recognition Again

    AI cryptocurrency trading platform BitradeX has recently been officially listed by global leading security institution CertiK and ranks 36th on its trading platform security leaderboard, demonstrating the platform's continuous advancement in system security and compliance risk control.

  • LazAI Shares Vision for AI × Blockchain Future

    In an exclusive interview at #Nexus2140, Daniel Kwak, CCO of Metis and Head of Marketing at LazAI, introduced LazAI as a pioneering platform addressing data ownership, validation, and monetization in the AI era.

  • NEXUS 2140 Enters Final Countdown: Global AI•Web3•Ecom Expo Set to Ignite in Korea

    According to official sources, the highly anticipated NEXUS 2140 AI・Web3・E-commerce Global Expo has officially entered its final countdown. The flagship event will take place on June 21 at KINTEX in Goyang, South Korea.

  • BlockX.VC Makes Strategic Investment in TronBank.Pro, Expands into TRON Energy Finance

    According to official sources, leading blockchain venture capital firm BlockX.VC has announced a strategic investment in TronBank.Pro, a TRON-based energy finance service platform. Both parties will jointly advance the development of TRON’s energy leasing, staking, and on-chain payment infrastructure. The funding from this round will primarily be allocated to the development of the TronBank Card payment tool, global community expansion, and the enhancement of on-chain security systems. BlockX.VC emphasized that TronBank.Pro is poised to become a key entry point in the TRON energy market, helping to improve transaction efficiency, lower user costs, and further promote the prosperity of the TRON ecosystem.

  • BitradeX Token (BTX) Officially Listed on CoinMarketCap with Real-Time Market Data Now Available

    The BitradeX platform token, BTX, has been officially listed on CoinMarketCap (CMC), the world’s leading digital asset market data platform. Starting today, users can access real-time BTX price, trading volume, market capitalization, and other key data on CMC, further enhancing BTX’s transparency and global market visibility.

  • 팬케이크스왑 CAKE·파이네트워크 커뮤니티, ‘CAKEPI 더블 마이닝’ 출범

    글로벌 5,000만 여 명의 사용자를 보유한 파이네트워크(Pi Network) 커뮤니티와 세계 최대 DEX 팬케이크스왑(PancakeSwap-CAKE)과 함께 ‘CAKEPI 더블 마이닝’ 프로젝트를 공식 가동했다. 케이크 측은 이번 프로그램을 위해 5,000만~1억 달러 규모를 투자하여, 시세풀에 예치하였으며, 팬케이크스왑 거버넌스 토큰 CAKE의 활성화와 가치 제고를 노린다.

  • Gemini to Pay $50 Million to Gemini Earn Investors, Reaches Settlement with New York Attorney General’s Office

    According to Bloomberg, cryptocurrency exchange Gemini has reached a settlement with the New York Attorney General's Office over a fraud lawsuit, agreeing to pay $50 million worth of digital assets to Gemini Earn investors. As part of the settlement agreement, Gemini Earn is also prohibited from operating in the state. Gemini said in a statement on Friday that the final distribution of proceeds will arrive in customer accounts within seven days.Previously, New York Attorney General Letitia James sued Gemini in October last year, accusing the platform of misleading investors in the Gemini Earn project, resulting in losses of over $1 billion.

  • MakerDAO co-founder: DeFi front-end may need a license to operate in Europe

    Rune Christensen, co-founder of MakerDAO, has warned that the EU's specific interpretation of the MiCA regulations could lead to a disruption of DeFi development. Christensen stated that there are reports that financial regulatory authorities in Europe may require every DeFi frontend in the region to register and operate under a license. He is concerned about the potential impact of this decision and stated that "it would make DeFi frontends based on regular internet domain names unfeasible." Additionally, Christensen explained in detail that only decentralized or locally downloaded frontends can operate, as well as those that adopt KYC measures and procedures.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company