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Home»Altcoins»This data may indicate the survival of MKR investors in the finals of 2022
Maker token
MKR Token survival in spotlight
Altcoins

This data may indicate the survival of MKR investors in the finals of 2022

Saheel KhirodkarBy Saheel KhirodkarDecember 5, 2022Updated:December 7, 2022No Comments2 Mins Read
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Maker Token
  • Maker (MKR) is a smart contract platform built on the Ethereum blockchain that aims to solve volatility issues for the crypto market.
  • A new token was launched by MakerDAO to increase its collateral.
  • Real-world assets and the approval of plans to boost yields led to an increase in revenue.

On December 3, MakerDAO decided to boost the returns received by DAI holders in a new proposal. Additionally, MakerDAO expanded its collateral by adding fresh tokens. As a result, increased protocol activity may raise awareness of the DAO and have an impact on the MKR token.

🦉 Maker Governance approved @GnosisDAO's GNO governance token as collateral in the Maker Protocol!

→ https://t.co/mgMGXLleuD pic.twitter.com/DAspu7J0U8

— Maker (@MakerDAO) December 3, 2022
MakerDAO’s Tweet

New features for MakerDAO
Another tweet from 4 December claimed that GnosisDAO’s token, GNO, would be added to MakerDAO’s list of collaterals. In addition to assisting MakerDAO in diversifying its collateral, this would also help GnosisDAO in its goal to increase the popularity of DAI.

Despite expanding their collateral into other fields, the majority of MakerDAO’s revenue had come from actual world assets (RWA). The image below shows that more over 50% of MakerDAO’s revenue was derived from real-world assets.

Ethereum [ETH], staked Ethereum [stETH], and stablecoin yields all contribute to this income. As a result, MakerDAO’s revenue streams were diverse, suggesting that the protocol was less vulnerable to danger at the time of authoring.

Source: Dune Analytics

In addition to that development, MakerDAO also decided to raise the DSR (Dai Savings Rate) for its customers. This was done in an effort to mimic the yields found in conventional finance. Long-term growth of MakerDAO may be enhanced by the DAO’s proactive approach to reducing risk exposure for its users and efforts to increase yields.

bitcoin btc dai december diversifying collateral spheres gno governance token governance token collateral latest maker makerdao mkr price
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Saheel Khirodkar
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Saheel works as a content writer for Bitnewstoday. He has always been interested in journalism and enjoys writing. Furthermore, His interest lies in cryptocurrency, and is continuously seeking for new techniques to invest. In his free time, he enjoys staying up to date on the latest industry news and spending time with his family.

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