April 1, 2020 MakerDAO completes MKR auction following the minting of new tokens due to system failure.

MakerDAO has completed a series of MKR auctions, aimed at recapitalizing the Maker system following the failure of its liquidation process on March 12. The auctions cumulatively raised 5.3 million DAI, Maker’s USD-pegged stablecoin with 20,980 MKR tokens sold at an average price of $296.35. Paradigm, the cryptoasset venture company, received the most tokens, paying 3.6 million DAI in total.