- To protect DAI holders and to safeguard Maker Protocol, Maker Governance executed several parameter changes to a number of vault types.
- These changes were made to vault types that hold tokens from projects that might be exposed to the risk caused by FTX’s collapse.
As the general cryptocurrency ecosystem attempted to recover following FTX’s unexpected fallout, Maker Governance, in a series of tvitova, announced that it has executed several promjene parametara to vault types on Maker Protocol.
čitati Maker [MKR] price prediction 2022-2023
These changes were made to vault types that contain crypto tokens from “organizations that may stand at considerable risk of being affected” by the general market downturn.
Potvrđujući to Maker Protocol [MKR], MakerDAO, and its DAI stablecoin were not in any way exposed to the collapse of FTX, Alameda Research, or any other connected entities, Maker DAO stated that the governance body executed the parameter changes to protect DAI holders and to guarantee the financial health of Maker Protocol. The DAO stated,
“These parameter changes were executed for the sole purpose of protecting DAI holders and the financial health of the Maker Protocol from uncertainty surrounding the financial stability and liquidity of the involved assets.”
These parameter changes included reducing maximum debt ceilings of vault types such as MATIC-A, LINK-A, YFI-A, RENBTC-A, and MANA-A to 10 million DAI, 5 million DAI, 5 million DAI, 0, and 3 million DAI, respectively.
In addition, the governance team executed an increment of MANA-A Stability Fee to 50% and its Liquidation Penalty to 30%.
The DAO confirmed further that,
“When the situation becomes clearer and the environment less risky, their team will propose further changes to adjust parameters based on the future state.”
If you hold MKR
At the time of writing, MKR exchanged hands at $661.82. As per data from CoinMarketCap, its price has declined by 24% since the untimely demise of FTX.
Its price was up by 7% in the last 24 hours, while the token’s trading volume was up by 44% within the same period. The price/trading volume divergence pointed to buyers’ exhaustion in the MKR market.
This position was supported by the token’s movement on the daily chart as price assessment revealed that MKR was oversold, at press time. Its Money Flow Index (MFI) was far from the neutral zone at 29.06. And, its Relative Strength Index (RSI) was spotted in a downtrend at 37.96
At -0.09, the position of MKR’s Chaikin Money Flow revealed that selling momentum rallied, at press time.
Izvor: TradingView
Interestingly, MKR’s on-chain assessment revealed that despite the continued fall in the asset’s price, the count of its daily active addresses (DAA) rallied.
Prema podacima iz Santiment, since 7 November, the count of unique addresses that traded MKR grew by 52%.
Izvor: Santiment
This creates a price/DAA divergence that usually precipitates a price upswing. However, this is not conclusive proof, as MKR shares a statistically significant positive correlation with leading Bitcoin [BTC], whose outlook in the short term is bearish.
Source: https://ambcrypto.com/maker-governance-team-implements-parameter-changes-to-protect-dai-holders/