DeFi Daily News,November 12nd, 2020

1. Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up. Bitcoin (BTC) trading around $15,694 as of 21:00 UTC (4 p.m. ET). Gaining 2.6% over the previous 24 hours, which trading range was between $15,293 and $15,973.

2. According to the ChainNews, the decentralized cross-chain project Kira Network announced that it will launch the last round of security challenge. The first place in the challenge will receive 200 USDT and a KEX public offering quota of up to 10 ETH. KEX is the native token of Kira Network. According to an interview with Kira CEO Milana Valmont by the Satoshi Mamoto community, Kira Network will conduct a public auction in the near future. The token value of the public auction is approximately US$200 to 250,000. The exact date of the public auction will be announced soon. In addition, the public testnet of Kira Network will be launched in December. The testnet will be able to provide multi-asset fee payment and management modules, allowing verification procedures and licensing and expansion of management sets. The testnet will last for about a month.

3. According to CoinGecko, the market value of DAI, a stable coin issued by MakerDAO, exceeded $1 billion on November 11. The MakerDAO Foundation confirmed that as of November 11, the supply of DAI had increased by $30 million. Calculated by compound interest, there are currently $1.6 billion in DAI assets locked up. This is because the user’s use of DAI is a circular way (within the allowable range of the mortgage interest rate) to save money-borrow money-then save money. Approximately one-third of the supply comes from the DAI Savings Rate (DSR) smart contract, although it currently has no returns. Most DAI, more than 620 million, are currently in the ERC-20 smart contract. According to Debank’s data, Maker currently has $2.3 billion in assets locked, making it the second largest DeFi application on Ethereum, second only to Uniswap.

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