DeFi Lender MakerDAO Paves Way for Enhanced DSR to Ignite Growth for DAI Stablecoin

MakerDAO Hikes DAI Savings Rate, Ousts Paxos Dollar, Curbs Gemini Dollar in Reserve

The action comes as the circulation of Maker’s dollar-pegged stablecoin has shrunk by a third from $6.9 billion in a year, according to Dai Stats. The broader stablecoin market, a key infrastructure and source of liquidity in the crypto ecosystem for trading and transactions, is in a downtrend, sinking to $127 billion from nearly $160 billion a year ago.

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