As the USD peg of the popular Dai stablecoin has slid beneath $1 in recent weeks, the Maker community, creators and users of the dual-token MKR and DAI ecosystem, are considering a new governance proposal aimed at correcting the stablecoin’s dollar peg.
Dai, a rising token star in the Ethereum space, can be self-lent using Collateralized Debt Positions, or CDPs, through the Maker team’s CDP Portal dapp. These positions allow users to take out decentralized loans using ether (ETH) as collateral. Maker collects a so-called “Stability Fee,” currently 1.5 percent, on all Dai generated via CDPs.
Governance Proposal to Raise Dai Stability Fee
On Monday, March 4th, the Maker Foundation Interim Risk Team, which Maker community development director Richard Brown has said “craft[s] proposals that allow the community to implement a healthy monetary policy to keep the supply and demand of Dai in balance,” introduced a governance proposal to raise the Dai Stability Fee to 3.5 percent.
The Governance Poll proposal to raise the…