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The passed measure ends the 1% USDC to DAI minting fee that was previously implemented. MakerDAO, the decentralized autonomous organization (DAO) that governs the DAI stablecoin, has voted overwhelmingly to keep USD Coin (USDC) as the primary collateral for DAI. An alternative proposal to “diversify” collateral into Gemini U.S. Dollar (GUSD) and U.S. Dollar Paxos (USDP) has been reject ed in a 20% to 79% vote, according to the proposal’s official page. Vote totals for the proposal to normalize PSM Parameters. Source: MakerDAO official website In the proposal posted on March 17, the MakerDAO Risk Core Unit suggested that the risk of a cascading bank run in the U.S. has been reduced, thanks to responses from the U.S. federal government. As a result, the risk of using USDC as collateral “has declined significantly since last week and further solvency concerns or depegs are not expected at this time.” However, it also argued that some risks remain. USDC has “potentially more risky exp...

Web3 developer ConsenSys has cast 7.03 million UNI votes in favor of Uniswap v3 deploying on BNB Chain. Web3 infrastructure developer ConsenSys, the maker of the popular MetaMask digital wallet, has cast 7.03 million votes in favor of a proposal that would see decentralized exchange Uniswap’s v3 protocol deployed on BNB Chain, according to data from Tally. The votes are denominated by the number of underlying UNI owned by ConsenSys, which is worth an estimated $47.5 million. At the time of writing, 77.56% of participants were in favor of the proposal , with 22.07% against it. The week-long voting process will close on Feb. 10. As Cointelegraph previously reported, venture capital firm Andreessen Horowitz cast a vote against the proposal . A16z, which reportedly holds 55 million UNI tokens, voted 15 million UNI against the move due to its reliance on the Wormhole bridge and instead supported using LayerZero as the interoperability protocol. LayerZero Labs is part of a16z’s portfolio...