MakerDAO (MKR) Collaborates With ‘The Giving Block,’ Encourages Crypto Adoption

eToro

Yesterday, MakerDAO took its excitement to the social platform Twitter, where all the latest moves of the crypto world are watched out for. The company announced its partnership with ‘The Giving Block.’ The aim is to spread awareness on nonprofit crypto adoption. This will help to spread awareness about the usefulness of incorporating their crypto- DAI.

According to another announcement made by The Giving Block yesterday, Maker has made a donation in DAI to LupusOrg. LFA has also started to permit DAI on its platform. On their official blog on Medium, The Giving Block has given all the details about the partnership and the related causes. The company has said,

We are thrilled to partner with The Giving Block to help educate non-profit’s on the value of transacting and supporting donations in a stable digital currency like Dai. Dai provides non-profits with a way to transact in global digital cash that can reduce costly transaction fees when money crosses the border offering a true positive gain for those they are serving. Donating in Dai also strengthens the transparency of where donations are going creating a more trustworthy environment for giving.

Also, The Giving Block tweets,

More on MakerDAO:

As of now, the crypto DAI has not managed to surpass one U.S Dollar. Although the crypto is now in the ‘stable zone.’ Looking at its stability fee, in almost 90 days, the fee has folded almost thirty-three times from 0.5 percent to 156.5 percent. On this, the users of the MakerDAO coin have voted again with a view to push the fees at least to 19.5 percent. The COO of MakerDAO Foundation- Steven Becker said,

In using the Stability Fee, progress has been made. The peg is stable, just a few percentage [points] below where it needs to be.

On the other hand, the vulnerability issues around the security of the MKR has been taking rounds in the crypto world. Recently, the blockchain security firm, Zepplin conducted an audit of the Maker Voting Contract. The audit reported regarding a “critical vulnerability” in the DappHub library contracts. This vulnerability has the potential to interfere with the production department of MakerDAO system. The threat has been sorted and fixed now. On this, the Head of Community Development of Maker Foundation has suggested the platform’s users to move their MKR from contracts to their personal wallets as an added safety measure. He further added,

You are not in danger of losing your MKR if you own one of the ~190 addresses who has staked MKR in the current MakerDAO Governance Voting Contract.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button