Maker cuts off Aave’s DAI supply as fallout from Celsius continues

2022.06.17 06:36

Maker cuts off Aave’s DAI supply as fallout from Celsius continues

MakerDAO has voted to cut off lending platform Aave’s ability to generate DAI for its lending pool without collateral as the risks of Celsius’s liquidity crisis loom large over the entire crypto ecosystem.

The decentralized autonomous organization (DAO) made the decision as a means of mitigating the Maker protocol’s exposure to the beleaguered staking and lending platform in case Celsius goes belly up and implodes the stETH peg as well.

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