makerdao

On March 26, the European Central Bank published a working paper studying the governance concentration of four major DeFi protocols: Aave, MakerDAO, Ampleforth, and Uniswap.The paper, based on holding snapshot data from November 2022 and May 2023, found that although governance tokens are distributed across tens of thousands of addresses, the top 100 holders in each protocol control over 80% of the supply, and a large number of governance tokens can be linked to the protocols themselves or centralized and decentralized exchanges, with Binance being the largest identified centralized exchange holder among the four protocols.In terms of voting participation, the paper noted that actual voters are mainly representatives who obtain proxy voting rights from small holders. The top 20 voters in Ampleforth control 96% of the proxy voting rights, the top 10 voters in MakerDAO hold 66%, and the top 18 voters in Uniswap hold 52%. About one-third of the main voters cannot be publicly identified.The paper argues that these findings challenge the assumption of inherent decentralization in DAOs, making it more difficult to determine regulatory anchors under the EU MiCA framework. MiCA currently excludes "fully decentralized" services from its scope. The paper also points out that it is impossible to determine from public data whether the holdings associated with the protocols belong to founders, developers, or treasuries, nor can it be determined whether exchange wallets are voting on behalf of themselves or their clients. The paper represents the authors' views and does not represent the official position of the European Central Bank.

According to monitoring by Hyperinsight, in the past hour, the address associated with MakerDAO co-founder Rune (0x30d3...) has rolled over and increased its short position in SP500 (S&P 500 mapping contract), accumulating an additional 68.76 contracts, valued at approximately $454,000.After continuous accumulation, this address currently holds a total of 390 contracts of a 20x leveraged SP500 short position, raising the total position size to $2.58 million, with an overall average holding price of $6,615.5. As of the time of writing, this position has a slight unrealized profit of about $2,300, with a liquidation price set at $6,876.This address previously held long positions in CL (WTI crude oil) and BRENTOIL (Brent crude oil) on-chain, and had opened short positions in XYZ100 and ETH as hedges, now simultaneously using NASDAQ 100 and S&P 500 as hedge positions.

According to Onchain Lens monitoring, CL reached $111.5. MakerDAO founder Rune (@RuneKek) currently has a 7x leveraged long position opened on CL with over $1 million in unrealized profits.

According to Onchain Lens monitoring, the wallet address related to Ethereum co-founder and Consensys founder Joseph Lubin deposited 15,000 ETH (approximately $31.43 million) into MakerDAO and borrowed 4.1 million DAI. Currently, the wallet address holds a total of 137,908 ETH (approximately $287.29 million) and has borrowed a cumulative total of 107.77 million DAI.

ChainCatcher news, according to on-chain analyst @ai_9684xtpa monitoring, "56,995 ETH near liquidation giant whale" position may trigger liquidation within half an hour.On April 7, 2025, at 13:00, the MakerDAO oracle price will be updated to $1,531.63, while its liquidation price is $1,564.58.

ChainCatcher news, according to The block, the revenue of most mainstream DeFi protocols on Solana, Ethereum, and BNB Chain fell by more than 50% month-on-month in March, reflecting an overall slowdown in on-chain activity and trading volume. The total revenue of Solana protocols was approximately $42 million, a decrease of 55%; PancakeSwap on BNB Chain generated $21 million, down 54%; the total revenue of protocols on Ethereum such as Ethena, Lido, and Aave was $24.5 million, a decline of over 52%. The only protocol that saw growth was MakerDAO (now known as Sky), with a revenue of $10 million in March, an increase of 11% month-on-month. DeFi token performance was similarly weak, with GMCI's GMDEFI index down 40% year-to-date.

ChainCatcher news, according to on-chain analyst @ai_9684xtpa's monitoring, two Maker whales with a net position of up to 84.4 million USD are facing liquidation risks, but as ETH drops to 1786 USD, the Maker whale positions have not been liquidated because MakerDAO uses an oracle security module (OSM). Even if the market price falls below these liquidation points, the actual system price is still updated with a delay.The system collects data from multiple authorized price oracles, calculates the median as a reference price through the Medianizer contract, and applies it with a delay of about 1 hour to prevent short-term fluctuations from being exploited. Currently, MakerDAO's system price is 1831.25 USD, which is still a certain distance from the liquidation prices of the two addresses.ChainCatcher previously reported, according to on-chain analyst @ai_9684xtpa's monitoring, significant fluctuations in ETH have led to two whales with a net position of up to 84.4 million USD facing liquidation:Address 0xab7...e2313 collateralized 64,792 WETH to borrow 68.09 million DAI, health factor 1.02, liquidation price 1,786.65 USD;Address 0x6bb...830b3 collateralized 608,104,792 WETH to borrow 74.73 million DAI, health factor 1.03, liquidation price 1,781.99 USD.

ChainCatcher news, according to CoinDesk, on-chain data shows that when the ETH price reaches $1,926, $1,842, and $1,793, three MakerDAO positions will be liquidated, with each position valued between $109 million and $126 million.Currently, the trading price of ETH is about $2,390. If ETH continues to drop by about 19%, it will trigger a $340 million liquidation.

ChainCatcher news, according to CoinDesk, on-chain data shows that when the ETH price reaches $1,926, $1,842, and $1,793, three MakerDAO positions will be liquidated, with each position valued between $109 million and $126 million.Currently, the trading price of ETH is around $2,390. To trigger the liquidation of MakerDAO, ETH needs to drop by about 19%.

ChainCatcher message, Sky (formerly MakerDAO) announced on the X platform that it has launched on the Base blockchain.

ChainCatcher news, BIO Protocol announces that former MakerDAO founding team member seanwbren.eth has joined to lead the AI agent sector of BioDAO.BIO Protocol states that BIO integrates various AI technologies, including maximizing integration using the ElizaOS framework, closely monitoring Prime Intellect to utilize its models when available, and building a decentralized knowledge graph in the SciGraph of ID Theory.

According to ChainCatcher, The Block reported that MakerDAO voted to maintain its rebranded name "Sky," a move that is part of founder Rune Christensen's "Endgame" plan aimed at launching new types of stablecoins and establishing "subDAOs" to build crypto applications and infrastructure.Although some members within the community have expressed concerns about the brand shift of the decentralized protocol, among about 20 voting entities, only four major holders controlled nearly 80% of the voting power, all of whom supported the retention of the Sky brand.As part of the Endgame plan, Sky plans to launch several new stablecoins, including the decentralized PureDAI and the regulatory-compliant NewStable, and will be launched on Solana and Ethereum L2 Base. Additionally, the project will integrate Aave, launch the SkyLink cross-chain bridge, and venture into asset tokenization.

ChainCatcher news, Sky (formerly MakerDAO) founder Rune Christensen stated on social media that Trump's victory will drive a true and sustained revival of DeFi, with the likelihood of a tenfold increase in user numbers significantly rising, as DeFi benefits the most from the reduced regulatory uncertainty in the U.S. compared to other areas of the crypto space.

ChainCatcher news, according to CoinDesk, MKR token holders are currently voting to assess their opinion on whether MakerDAO should "rebrand" the Maker brand and abandon the new name "Sky" adopted in August. This non-binding vote currently shows that token holders support retaining the Sky brand, although participation is relatively limited at this time.MakerDAO founder Rune Christensen remained neutral on the branding issue during an interview but urged the community to resolve the branding controversy and refocus on growth. He stated, "The most important thing is to make a decision and focus on what matters, which is the product." Christensen emphasized that changing the name to Sky is not just superficial, "far from just renaming," but part of Maker's "endgame strategy," which has launched new products like the USDS stablecoin.Christensen mentioned that one way to track the success of this stablecoin is to observe the proportion of USDS that is idle and not earning rewards. Among the over $1 billion in circulation, although the amount is not large, it is noteworthy that a portion is not earning rewards—this indicates it is held by real humans rather than bots, as this idling behavior suggests genuine use, since real users treat USDS as cash, holding it temporarily without seeking to maximize returns. However, despite this move still being seen as successful and the launch of the USDS stablecoin exceeding expectations, Christensen also acknowledged that the rebranding to Sky faced challenges that affected community perception and market confidence. This round of voting will last until November 7. The next step will be a binding governance vote.