[ad_1]
The decision to reduce by 2% the so-called stability fee for the decentralized DAI installation based on the MakerDAO Ethereum block chain was executed on May 28th.
The initial vote for Token Holders Maker (MKR) was announced on the organization's blog on May 17th, with a proposal to reduce stability fees from 2% to 17.5% a year. According to the announcement, the need to reduce fees was discussed during the MakerDAO governance call that took place on May 16.
However, the proposal initially failed because it did not obtain the required number of votes to reach its quorum.
After that, according to the blog, "the interim risk management team of the Maker Foundation has placed a vote of the leaders in the voting system" to allow to set lower fees. The page dedicated to both votes provides the same reason for the proposal:
"[DAI] exchange price is above $ 1. "
MakerDAO uses the changes in the annual stability tax to improve the token peg against the US dollar after its exchange rate has remained above the $ 1 level. Stability Fees are charges levied by Maker participants when Dai is used for loans.
As reported Cointelegraph at the end of April, DAI was already struggling to maintain its anchorage. The president and chief operating officer of MakerDAO, however, claimed that the value of DAI had stabilized in early May.
[ad_2]
Source link
