The MakerDAO community approved the American bank's proposal to create a DAI vault to issue loans through HVB, collateralized by real-world assets. This and more news in this handy daily digest so you're always up to date with the latest events happening within the crypto world.
MakerDAO accepts proposal from commercial bank HVB
📍MakerDAO approves proposal submitted by Huntingdon Valley Bank. With over 87% of governance votes in favor, the MakerDAO community has given the green light to the proposal put forward by the American commercial bank Huntingdon Valley Bank, to issue collateralized loans through the DAI stablecoin.
The American bank, with more than 150 years of history, wants to collaborate with the DeFi protocol to create a vault of 100 million DAI, equivalent to 100 million dollars, which would be “the largest real-world asset creation vault to date,” the protocol indicated.
Huntingdon Valley Bank’s DAI vault will allow MakerDAO to issue DAI loans collateralized by real-world assets. Through this collateral integration between a banking institution and a DeFi protocol, the bank plans to boost cryptocurrency adoption by connecting DeFi to the world of traditional finance.
The integration also exposes MakerDAO’s potential and aligns with its goals of building a new generation of more efficient financial services.
Treasury proposes collaborative framework to regulate cryptocurrencies
📍The US Treasury has unveiled a framework for international cooperation on cryptocurrencies. Entitled “Framework for International Engagement on Digital Assets”, the cooperation framework proposed The Treasury Department maintains an interagency approach to addressing cryptocurrency regulation and minimizing potential risks.
According to the presentation published by the Department, cryptocurrency regulation is an international matter, due to the ability of digital assets to transfer value across borders and drive global connectivity.
The United States Department of the Treasury submitted this proposal in response to the request of the current administration of the country within the framework of crypto regulation.
In March of this year, US President Joe Biden signed an executive order dedicated to cryptocurrencies, in which he orders his government institutions to create a series of reports and work on regulating digital assets, in order to promote and ensure the responsible development of this industry.
Some metrics about Bitcoin
📍Bitcoin mining difficulty fell 1,48% this week. According to data from Coin Warz, the difficulty of mining bitcoins on the network has corrected by almost 1,5% this week. The current difficulty of the Bitcoin network is 29,15 trillion (T), the data shows.
La Bitcoin mining difficulty is a metric that indicates the complexity of solving the hash of a block within the network. This metric is variable and is automatically adjusted every 2.016 mined blocks (approximately every 2 weeks), based on the hash rate or computational power of the network.
Bitcoin's hash rate has currently increased by nearly 2% over the past week, surpassing 217 exahashes per second (EH/s), according to the platform, at press time.
NFTs are coming to Reddit
📍Social community network Reddit will create an NFT marketplace platform using the Polygon Network. The new NFT marketplace will focus on limited-edition collectible avatars, which will be designed by some of Reddit's most passionate artists, reported the social platform in a post on Thursday.
Reddit also noted that the new NFT marketplace will be based on the Polygon blockchain, the leading scaling solution in the crypto industry today.
Continue reading: Polygon enters the smartphone industry with Phone 1, from Nothing Technology
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