A vote about whether to decrease the so-called stability fee for MakerDAO’s -based has started. The vote was on the organization’s blog on May 17.
If approved, the latest proposal would decrease the stability fee by 2% to 17.5% per year. According to the announcement, the need to decrease the fee was discussed during the MakerDAO governance that took place on May 16.
MakerDAO is looking to change the yearly stability fee in an attempt to improve the ’s peg to the after its exchange price has been hovering above the $1 level. The stability fee is a charge levied by Maker participants when Dai is used for.
In March, Maker already raised the stability fee twice, to 3.5% and to 7.5% per year. In April, the fee by another four percent in the fifth such vote this year, bringing it to 11.5%. Further votes at the beginning of the current month.
As Cointelegraph at the end of April, DAI has been previously struggling to maintain its peg. MakerDAO’s president and chief operating officer, however, that DAI’s value had been stabilized as of the beginning of May.
Also at the end of April, Andy Milenius, formerly the chief technology officer at MakerDAO, an open letter dated April 3 explaining his concerns over the project’s internal conflicts.
Published at Sun, 19 May 2019 19:08:41 +0000
