MakerDAO, on 1 Septermber, posted an announcement relating to a brand new govt proposal. The proposed govt propsal was for DAO members to solid their votes whereas making necessary selections.
The primary resolution being the drawing down of $25 million DAI to HVbank. The second resolution revolves across the launch of the Maker teleport (expertise that helps customers alternate DAI from L2 to L1) on Optimism and Arbitrum.
With the upcoming launch of the teleport expertise on Optimism and Arbitrum, their stablecoins will be capable of scale additional and obtain large adoption a lot sooner. This transfer appears to have caught the eye of not simply merchants, however some whales as nicely.
What’s all the thrill
In line with a latest tweet by Santiment, whales have been displaying large curiosity within the MKR token with an enormous uptick within the $100k+ transactions on the community since 11 August.
However that’s not the one factor the MKR token has acquired going for itself. The tackle rely has additionally been on a gradual rise because the previous month.
Supply: Messari
Together with the rise within the addresses, the amount has additionally proven some progress up to now month. It managed to achieve new heights throughout mid-August.
Supply: Santiment
MKR has additionally been getting some traction on social media. Nevertheless. its social media mentions and social engagements up to now week haven’t been very spectacular.
Supply: LunarCrush
A whole lot of the credit score for the token’s seemingly shiny future may very well be attributed to the folks at MakerDAO who’ve been placing lots of work in behind the scenes.
In a latest update, MakerDAO talked about that the group has been working with a financial institution for the primary industrial mortgage participation between a US-regulated monetary establishment and a decentralized digital foreign money.
Nevertheless, the journey hasn’t been good for the MKR token and merchants want to bear in mind another components as nicely. The marketcap has been going south because the starting of August.
Moreover, MKR has been dropping lots of its marketcap dominance. The metric has plummeted 20% since August.
Supply: Messari