Clicky

  • About
  • Coincu
  • Hot topics
  • Random
Wednesday, October 4, 2023
CoinCu News
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • Video
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • Video
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
No Result
View All Result
CoinCu News
No Result
View All Result
Home DeFi

Privacy Battle Erupts As MakerDAO’s VPN Ban With New Protocol Fuels Controversy

Harold by Harold
2 months ago
in DeFi
Reading Time: 3 mins read
375
91
SHARES
3k
VIEWS
Share on Twitter

Top 5 Notable Real World Assets Crypto Projects In 2023

Former Multichain Engineer Launches New Project While $125M Lost Still Unanswered

Key Points:

  • MakerDAO’s global VPN ban to restrict U.S. users with the Spark Protocol sparks privacy and decentralization concerns.
  • Critic Chris Blec argues the move sacrifices privacy for profit, clashing with decentralized principles.
  • TRM Labs’ role in enforcement raises questions about DeFi’s trajectory, coinciding with the new savings rate implementation.
MakerDAO, the decentralized autonomous organization behind the DAI stablecoin, has ignited a debate over its decision to block VPN users from accessing its DeFi lending platform, Spark Protocol.
Privacy Battle Erupts As MakerDAO's VPN Ban With New Protocol Fuels Controversy

The move was intended to curb access for U.S. users, in line with the protocol’s updated terms of service issued on May 9. However, the restriction has extended globally, leading to concerns about privacy and decentralization.

Reports emerged from Australia and Singapore, where media attempts to access the platform using VPNs were met with a prompt reading, “VPN access to this website is not allowed.” DeFi analyst Chris Blec expressed strong disapproval, stating that this action amounted to a global ban on VPNs and represented a battle against privacy.

Spark Protocol, introduced in May, allows users to earn up to 8% in annual returns through lending DAI. However, restricting access has fueled criticism that the organization prioritizes profit over principles. Critics, including Blec, argue that this stance contradicts the essence of decentralization.

The protocol is believed to employ TRM Labs’ blockchain intelligence services to enforce the ban, although TRM maintains that it neither tracks nor shares users’ metadata.

The controversy coincides with the implementation of the Enhanced Dai Savings Rate (EDSR), designed to boost the DAI Savings Rate (DSR) during low utilization periods. MakerDAO founder Rune Christensen noted that the DSR temporarily sits at 8% due to reduced utilization.

While the restriction’s timing remains uncertain, MakerDAO‘s terms of service explicitly penalize users who attempt to use VPNs to conceal their U.S. residency. The decision has sparked debates on privacy, principles, and the balance between profit and user rights within the DeFi space.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Spark Protocol Review: Opening A New Lending Era for MakerDAO

MakerDAO's Spark Protocol Achieves New Milestone with 14.44 Million DAI Tokens Lent

DAI Pool Surpasses $400M As MakerDAO's Dai Savings Rate Increases To 8%

Tags: DAIDeFiDSREDSRMakerDAOSpark Protocol
Previous Post

Bitget’s ETH Staking Now Opens Phase 2 Subscription With Exclusive Rewards

Next Post

DAI Pool Surpasses $400M As MakerDAO’s Dai Savings Rate Increases To 8%

Other Posts

MakerDAO RWA Assets Now Reach $3.1 Billion After Platform Adds $101 Million To Back DAI
DeFi

MakerDAO RWA Assets Now Reach $3.1 Billion After Platform Adds $101 Million To Back DAI

September 28, 2023
Michael-Egorov-Deposited-23.26-Million-CRV-Into-Silo-To-Repay-The-Debt-On-Aave
DeFi

Michael Egorov Deposited 23.26 Million CRV Into Silo To Repay The Debt On Aave

September 25, 2023
dYdX-Integrated-Squid-To-Effectively-Transition-To-The-Upcoming-V4-Version
DeFi

dYdX Integrated Squid To Effectively Transition To The Upcoming V4 Version

September 21, 2023
SushiSwaps-Bold-Proposal-For-12.5-Million-ARB-Bonds-Sparks-Controversy
DeFi

SushiSwap’s Bold Proposal For 12.5 Million ARB Bonds Sparks Controversy

September 20, 2023
dYdX Founder: The DEX Will Lead The Next 100x Growth Of DeFi Derivatives
DeFi

dYdX Founder: The DEX Will Lead The Next 100x Growth Of DeFi Derivatives

September 16, 2023
MakerDAO Surges: $100 Million Investment In RWAs Signals The Shift To Traditional Markets
DeFi

MakerDAO Surges: $100 Million Investment In RWAs Signals The Shift To Traditional Markets

September 15, 2023
Next Post
DAI-Pool-Surpasses-$400M-As-MakerDAOs-Dai-Savings-Rate-Increases-To-8-percent

DAI Pool Surpasses $400M As MakerDAO's Dai Savings Rate Increases To 8%

  • Robinhood Now Considers Delisting SOL, ADA, And MATIC After SEC Lawsuits: Report

    Robinhood Now Considers Delisting SOL, ADA, And MATIC After SEC Lawsuits: Report

    163 shares
    Share 65 Tweet 41
  • SEC Crypto Appeal Rejected: Judge’s Decision Stuns the Market

    93 shares
    Share 37 Tweet 23
  • DWF Invests In AirDAO Despite Being Listed On Binance’s Risk Watchlist

    93 shares
    Share 37 Tweet 23
  • Top 5 Best AI Crypto Predictions For The Next Bull Run

    92 shares
    Share 37 Tweet 23
  • StarkNet Token Unlocks Delayed Until April 15 Next Year

    92 shares
    Share 37 Tweet 23
ARB Whale Banks $73K as Wintermute Pours $870K into Binance

ARB Whale Banks $73K as Wintermute Pours $870K into Binance

October 4, 2023
LEVER Rockets 100% with Massive Transfers to DWF, Binance, Bybit

LEVER Rockets 100% with Massive Transfers to DWF, Binance, Bybit

October 4, 2023
Web3 App Blackbird Successfully Raises $24M Led By a16z

Web3 App Blackbird Successfully Raises $24M Led By a16z

October 4, 2023
Solana Validator Health Report Shows Sustainable Growth

Solana Validator Health Report Shows Sustainable Growth

October 4, 2023
CMCC Global Hong Kong Funds $100M To Back Asian Blockchain Start-ups: Report

CMCC Global Hong Kong Funds $100M To Back Asian Blockchain Start-ups: Report

October 4, 2023
Thailand FinTech Festival: A Phenomenal Showcase, Uniting the FinTech Sector’s Leading Innovators

Thailand FinTech Festival: A Phenomenal Showcase, Uniting the FinTech Sector’s Leading Innovators

October 4, 2023
Top-5-Notable-Real-World-Assets-Crypto-Projects-In-2023

Top 5 Notable Real World Assets Crypto Projects In 2023

October 4, 2023
Top 5 Best AI Crypto Predictions For The Next Bull Run

Top 5 Best AI Crypto Predictions For The Next Bull Run

October 4, 2023
opBNB Review: The First Layer 2 Of BNB Chain

opBNB Review: The First Layer 2 Of BNB Chain

October 4, 2023
Stellar Invests in MoneyGram, Secures Board Seat for Blockchain Evolution

Ripple Payment License: Nabs Singapore License, Paving the Way for Major Growth!

October 4, 2023
  • Live Prices
  • Binance
  • NFT
  • Solana
  • Metaverse
  • Polygon
  • Coinbase
  • Trending

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected].

No Result
View All Result
  • Coincu
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • Metaverse News
    • NFTs News
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Video

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected].

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In