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Nov 29, 2022
MakerDAO is Voting to Raise Stablecoin Dai's Dividend
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The governance forum for MakerDAO is now debating whether to raise the dai (DAI) savings rate (DSR) or the interest rate that the protocol pays to dai stakeholders. According to a statement presented by the MakerDAO Open Market Committee, the DAO members will vote on whether to raise the existing yield rate of 0.01% to one of four rates: 1%, 0.75%, 0.5%, or 0.25%. Additionally, voters have the option to reject the plan outright or maintain the present return of 0.01%. The outcome might vary as more votes are counted, but at the time of writing, 99.7% of votes were in support of increasing the rate to 1%. On December 1, the voting is anticipated to be over.
DAI Staking Yields
The proposal, according to the committee, would bring dai staking yields into line with stablecoin returns provided by other decentralized finance (DeFi) systems, such as lending protocols Aave and Compound. According to the plan, a greater savings rate would aid in ensuring that there is sufficient liquidity to uphold the dai stablecoin's sustainability.
According to information from Block Analitica, average stock supply rates on DeFi lenders have marginally increased over the previous month. The committee ascribed this increase in supply rates on lending processes to a decline in asset liquidity brought on by investors moving their money to US Treasury bonds because those returns were more alluring and secure.
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