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In a move set to impact the decentralized finance (DeFi) ecosystem, MakerDAO, a leading Ethereum-based protocol, is gearing up for a crucial vote on a proposal to raise the savings rate for its stablecoin, DAI, to 3.33%.
The Makerdao collective is currently immersed in a discussion about the potential rise of the DAI stablecoin's savings rate to 3.3%. This suggestion was introduced by Block Analitica and revealed to the community on May 26 under the title “Stability Scope Parameter Changes #2.” Block Analitica Proposes Raising DSR to 3.
The MakerDAO community is gearing up for an important vote that could have significant implications for the decentralized finance (DeFi) ecosystem. The proposal aims to raise the Dai stablecoin (DAI) savings rate (DSR) to 3.33%, potentially impacting interest rates across the DeFi landscape.
MakerDAO's new proposal aims to increase DAI savings rate to 3.33%, potentially reshaping DeFi interest rates and attracting more capital to DAI.
Decentralized finance (DeFi) protocol MakerDAO increased its DAI savings rate (DSR) to 1% in December 2022. The move led to over 35 million DAI being deposited within a month, as per MakerDAO.
The MakerDAO community is preparing to vote on a proposal to raise the Dai Savings Rate (DSR) from 1% to 3.33%. DSR is the interest rate earned by individuals who lock their DAI into MakerDAO's DSR smart contracts.
Five months after raising the DAI savings rate (DSR) to 1%, the MakerDAO community is expected to soon vote on a new proposal that seeks to increase the DSR further to 3.33%.
The DAI savings rate was previously increased to 1% in December 2022, and led to 35 million DAI being deposited in the span of a month, according to MakerDAO.
MakerDAO is making a proposal to increase the DAI Savings Rate (DSR) to 3.3%. If accepted, the proposal would constitute a significant increase from the current rate of just 0,6%.
"Brace yourself, DAI holders, for a DSR at 3.33%," MakerDAO said on Friday, referring to a proposal that would raise the rate.
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Justin Sun, the Tron network founder and crypto investor, made a transfer of MakerDAO's maker (MKR) tokens worth $4.3 million to the crypto exchange Binance.
Tron founder Justin Sun's potential sale of MakerDAO's token – movements of tokens to an exchange often come before sales – coincide with the DeFi protocol's controversial restructuring.
MakerDAO, a pioneering DeFi protocol, has initiated a vote on a proposal that would allow its delegates to maintain anonymity and keep their whereabouts undisclosed. Co-founder Rune Christensen is leading the proposal, which, if approved, would make anonymity a mandatory requirement for eligible voters.
In a bid to prevent corruption, MakerDAO is on track to approve a proposal that will ban delegates from publicly revealing their identity.
The lending protocol and stablecoin issuer, led by its co-founder, has started making moves to implement full decentralization on delegate identity.
Decentralized finance (DeFi) lending platform MakerDAO's founder, Rune Christensen, laid out plans to introduce a new stablecoin and governance token as part of the platform's on-going revamp, according to a proposal posted on Maker's governance forum last week. MakerDAO Founder Rune Christensen joins "First Mover" to share insights into "Endgame" and what he hopes to achieve.
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