ChainCatcher news, according to the official announcement, Binance will launch the 1000000MOGUSDT perpetual contract on November 7, 2024, at 20:30 (UTC+8), supporting a maximum leverage of 75 times. The underlying asset of this contract is MogCoin (1000000MOG), the settlement asset is USDT, the funding fee settlement frequency is every four hours, and the maximum funding fee rate is +2.00%/-2.00%.

ChainCatcher message, the MakerDAO community decided through a public vote with a support rate of 50.85% to maintain the debt ceiling of the peg stability module (PSM) for the US dollar stablecoin GUSD issued by Gemini at 500 million DAI, while the remaining 49.15% voted in favor of reducing it to 0. (source link)

ChainCatcher message, due to the liquidity crisis currently faced by the Gemini exchange lending platform Earn, MakerDAO is adjusting relevant parameters through voting to limit DAI exposure to Gemini. Recently, there have been discussions on the Maker governance forum regarding the transparency of GUSD minting, the specific operational process on Maker PSM, and the transparency of reserves.In response, Gemini co-founder Tyler Winklevoss stated on the forum that the assets constituting GUSD reserves are not the "property" of Gemini. Gemini complies with the New York Department of Financial Services (NYDFS) "Guidelines for the Issuance of U.S. Dollar-Backed Stablecoins." According to regulatory requirements, the reserves of any stablecoin regulated by the New York DFS must be kept separate from the proprietary assets of the issuing entity (such as Gemini) and held by a custodian or trustee to protect the interests of stablecoin holders. Therefore, GUSD reserves are stored in accounts that are separate from Gemini's business, operations, and other customer commingled accounts, eliminating any risk of redemption. (source link)

ChainCatcher news, according to The Block, due to the liquidity crisis faced by the Gemini exchange's lending platform Earn, MakerDAO has begun voting on two governance polls aimed at limiting the exposure of the DAI stablecoin to Gemini, in order to adjust the parameters for using GUSD as collateral to mint DAI.The first poll proposes setting the GUSD vault's tout (the percentage fee charged for exchanging DAI back to collateral assets) to zero, which effectively means users can exchange DAI back to GUSD for free. The second poll proposes lowering the current debt ceiling to $500 million, with GUSD collateral in the Maker protocol currently at $489 million. Both polls will end on January 19. (source link)

ChainCatcher message, according to Nansen data, MakerDAO GUSD PSM (Peg Stability Module) holds a total of 493,233,160 GUSD, accounting for 86% of the total circulation of GUSD.It is reported that GUSD is a stablecoin issued by Gemini. Yesterday, Gemini co-founder publicly wrote to DCG founder, requesting a solution to repay the over $900 million owed by January 8, stating that DCG owes Genesis about $1.675 billion. Earlier today, it was reported that the DCG founder denied this, claiming that DCG has never owed Genesis any interest. (source link)