An public sale to recapitalize MakerDAO (MKR) after the mid-March market turmoil efficiently concluded on March 28, bringing in over $5 million price of DAI. Crypto enterprise fund Paradigm Capital revealed in a March 31 tweet that it gained roughly 68% of the auctioned tokens.
The corporate had beforehand pledged to hitch a “backstop syndicate” and canopy the whole system shortfall if vital. Performing as a so-called “backstop,” the group would act as the client of final resort by buying the MKR tokens if their worth fell to $100. (The public sale’s beginning worth was $200 and the present market worth is $288.)
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