Las Vegas: MakerDAO is the only crypto present at CES 2020
Las Vegas: MakerDAO is the only crypto present at CES 2020
Defi

Las Vegas: MakerDAO is the only crypto present at CES 2020

By Stefania Stimolo - 10 Jan 2020

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With the aim of meeting new executives and attracting new companies, MakerDAO has a booth in the “digital money” section at the Consumer Electronics Show – CES 2020 – in Las Vegas.

Not only that, MakerDAO seems to have been the only cryptocurrency to directly represent itself at the event along with other crypto services such as e-wallet, security and bitcoin ATM companies. 

A direct dialogue that allows the MakerDAO Foundation to both promote its mission oriented towards DeFi – Decentralized Finance – as well as to understand the value that participants attribute to cryptocurrencies in general. 

In this regard, Steve Becker, President and COO at the MakerDAO Foundation, said that during the conference he surveyed the participants by asking them whether they trusted their bank, receiving similar answers: 

“We don’t really have a choice.” 

This is how Becker then described the decentralization solution to them:

“‘You have sovereignty over your own money, what do you think about that?’ It takes a while to think about it and ask, ‘What does that really mean to me?’ It means that if your bank fails, your money still stays pretty safe”.

Greg Diprisco, Head of Business Development at the MakerDao Foundation, has spent the conference trying to meet people who can expand access to the DAI Savings Rate (DSR) through their distribution channels. 

After the successful integration of DSR on the OKex crypto-exchange last month, which extends the adoption of the decentralized stablecoin also in Asia, through incentives and rewards, MakerDAO seems to want to pursue the matter. 

Last Wednesday, in fact, the holders of MKR, the MakerDAO governance tokens, voted to increase the DAI Savings Rate by two percentage points, from 4% to 6%

As a result, users who lock their DAI on DSR will receive a higher interest rate. A way to incentivise both the supply of DAI on the market but also to be able to control, along with the stability fee, the price of DAI which, as a stablecoin based on Ethereum, must keep 1:1 ratio with the USD dollar. 

Not only that, the growth of MakerDAO in the world of DeFi currently registers 43 million DAI and $372 million ETH locked with a predominance of 55.92% by MakerDAO in the entire DeFi market in early 2020. 

 

Stefania Stimolo
Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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