The number of Wrapped Bitcoins has increased massively following being added as collateral to the Maker protocol.
Maker is an Ethereum token that describes itself as “a utility token, governance token, and recapitalization resource of the Maker system.” The purpose of the Maker system is to generate another Ethereum token, called Dai, that seeks to trade on exchanges at a value of exactly US$1.00.
The MakerDAO community has shut down the Single-Collateral DAI (Sai) system as the protocol fully transitions into the new Multi-collateral DAI (MCD or Dai) system. The post MakerDAO shuts down the Single-Collateral DAI system appeared first on The Block.
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