Cryptocurrency news

MakerDAO added LINK, LRC, and COMP to secure loans and stabilize DAI

MakerDAO added LINK, LRC, and COMP to secure loans and stabilize DAI

The MakerDAO community voted to add support for three new tokens: LINK, LRC, and COMP, to provide collateral for DeFi loans.

MakerDAO now supports deposits to secure loans in LINK, LRC, and COMP. Community members came up
with a proposal to add tokens back in the summer and voted for their integration through the Maker management platform this week.

Given nht’s support for new crypto assets, MakerDAO added 11 tokens to its Protocol this year. Other crypto assets, such as MANA, WBTC, ZRX, KNC, TUSD, PAX, USDC, and USDT, were added due to the fact that DAI lost its $1 peg. Supporting additional assets should encourage the provision of more DAI to stabilize its price.

The Maker community recently voted in favor of a proposal to lower the collateral requirements for the main USDC DAI storage in order to increase the volume of DAI in the market. Since the offer was implemented, the price of DAI has fallen to $1.01. MakerDAO founder Rune Christensen said that the Protocol “has no choice but to attract more crypto assets to provide collateral.”

Recall that in may, MakerDAO stopped
operation of the Single-Collateral DAI (Sai) stablecoin as a result of the Protocol’s complete transition to the Multi-collateral DAI (MCD) system with several types of security. In September, the MakerDAO community
opposed compensation for losses to Maker Vault depositors. The losses occurred as a result of the liquidation of positions due to the market fall on March 12-13.