The MakerDAO Meltdown, Explained

Описание: Black Thursday resulted in a massive sell-off in the crypto markets. Ether, specifically, lost 50% of its market cap. This led to side effects within the DEFI ecosystem and one of the hardest hit was Maker. This video outlines what happened with the protocol during the morning hours of Thursday, March 12th, when Maker went from running a surplus of $500k in collateral, to being under-collateralized by $4mm.

---

FURTHER READING:
If you want to read more about what happened, I would recommend these two posts:
https://forum.makerdao.com/t/black-th...
https://blog.makerdao.com/recent-mark...

And if you want to find out what the DAO did to respond to this deficit, you can follow it in real time here: https://cointelegraph.com/news/makerd...

ATTRIBUTION:
Bumper Music: Audioblocks.com - "Summer" by Zac Nelson
Research: Tyler Levine