HomeCoinsEthereum (ETH)Decentraland’s MANA token added as latest collateral sort for DeFi lending protocol...

Decentraland’s MANA token added as latest collateral sort for DeFi lending protocol Maker

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An govt vote amongst MKR token holders within the MakerDAO ecosystem has resulted within the addition of MANA, the native foreign money of the digital world Decentraland, as a brand new collateral sort.

Because of this MANA can be utilized as collateral for the era of the stablecoin DAI, as outlined in a July 28 weblog publish. Discussions across the addition of MANA date again to Might. MANA, considered one of two tokens tied to the Decentaland challenge, is the digital world’s main medium of trade and is used to pay for issues inside Decentraland.

As famous on MakerDAO’s voting portal, the proposal handed at 7:30 UTC on July 28. In current months, the MKR token holders have added the stablecoin USDC and wBTC, an Ethereum-based token that’s 1-to-1 backed by bitcoin, as collateral sorts. 

MakerDAO made headlines earlier this week when the non-custodial lending protocol grew to become the primary DeFi protocol to succeed in $1 billion in complete locked worth. That development was fueled by an total swell of curiosity in DeFi functions. Per DeFi Pulse, which tracks well-liked protocols, that determine has risen to $1.13 billion, posting a one-day improve of practically 10%.

© 2020 The Block Crypto, Inc. All Rights Reserved. This text is supplied for informational functions solely. It isn’t supplied or meant for use as authorized, tax, funding, monetary, or different recommendation.



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