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MakerDAO Launches Plan to Build DeFi Ecosystem, Analyst Claims

• MakerDAO, the creator of DAI stablecoin, is reportedly wanting to build its own DeFi ecosystem instead of integrating it into existing protocols.
• The DeFi platform has already developed a competitor to Aave called Spark Protocol.
• MakerDAO also wants to bring EtherDAI and GHO (Aave’s stable digital currency) to the markets in order to make DAI a more unbiased world currency.

MakerDAO Wants To Build Its Own Ecosystems

The second-largest decentralized finance (DeFi) protocol by total value locked (TVL), MakerDAO, reportedly wants to build its ecosystem, according to a pseudonymous DeFi researcher called Ignas. Per a Twitter thread, the analyst claims that MakerDAO, the creator of DAI stablecoin, wants to integrate the U.S. dollar-pegged crypto asset into its own protocols and platforms instead of „existing DeFi protocols.“ The DeFi platform has already developed a competitor to Aave called Spark Protocol.

Competitor To Aave Called Spark Protocol

Ignas added that MakerDAO’s plan with its DAI Savings Rate (DSR) with a 1% annual percentage yield (APY) has failed to make Aave or Compound protocols integrate the stablecoin. MakerDAO’s main reason, according to the analyst, was to make USD Coin (USDC) users migrate to DAI. The analyst claims that MakerDAO’s plan to develop its decentralized environment comes as Aave protocol and Curve Finance are trying to create and launch their stablecoins. Per the tweet, GHO, Aave’s stable digital currency might be a direct „competitor“ for DAI.

EtherDai & Gho Stable Coins

Ignas stated that MakerDAo also wants too bring EtherDai too the markets too as well as GH02 which is Aaves‘ Sstable Digital Currency .This Asset which is known as Liquid Staking derivative(LSD0 for Ethereum (ETH) is known as thee most critical element in makers end game plan too make Dai thee unbiased world currency .

Previous Votes & Appreciation For Mushegian

Previously ,the makerdao community started ballots too save and manage Dai in Gemini Crypto Exchanges financial criisis ,the votes set thee fees for dai Too GUSD swaps at zero limiting dia exposure Too gemini ’s stables coin .In Nov 2022 one of makers founders Nikolai Mushegian passed away ,and Decentralized comunity appreciated his brilliance in developing thee stables coin & preventing massive hacks on makerdao .

Conclusion

In conclusion ,Makerdao seems Too be taking steps towards building their own ecosystems rather than integratign their assets into existing protocols like AAve or compound finance . they are propelling themselves forward by introducing new assets such as Etherdai & Ghos which will help them become an unbiased world curreny .