Another vote about whether to raise the so-called stability fee for Maker’s ()-based by 3% has on the governance portal of the Decentralized Autonomous Organization () on April 19.
MakerDAO, which issues the USD-pegged , is seeking to improve the ’s peg by increasing the yearly stability fee. The stability fee is a charge levied by Maker participants when Dai is used for .
In March, the DAO already raised the stability fee twice, to 3.5%, and to 7.5% per year. Also last week, the fee by another 4% in the fifth such vote this year, bringing it to 11.5%, where it currently stands. If the increase will be accepted again, the fee will reach 15.5%.
The proposal points out that the need for the increase has been discussed in the governance call on April 18, of which a has been uploaded to . The community expressed a mixed response in the comments to the of the vote on .
One user expressed concern, stating that the frequent changes to the stability fee, according to him, turns the system into an unpredictably short term leverage system. Other users noted that raising the fee to improve the peg apparently isn’t working.
As Cointelegraph in mid-March, senior advisor for digital assets at the Securities and Exchanges Commission reportedly noted that algorithmic stablecoins could experience issues under current laws.
Published at Sat, 20 Apr 2019 15:17:03 +0000
