MakerDao, a Decentralized Autonomous Organization (DAO), behind the popular stablecoin—DAI, based on the Ethereum (ETH) blockchain, recently conducted a voting exercise involving its users. The purpose of the voting is to raise the stability fee for Maker’s Dai (DAI) stablecoin to 3.5 percent. The result of the recently concluded poll made it clear that a large number of its users are of the opinion that the coin’s stability fee be increased.
MakerDao Increases DAI Stability fee to 3.5. Percent
MakerDao has since then followed up with an announcement which made it clear that the current stability fee rate has been increased from 1.5 percent to 3.5 percent. This is an increase of about 2 percent. In the announcement made, the organisation made sure to note down the key reason behind the newly proposed and voted stability fees. It was noted that the stablecoin one dollar to DAI peg had been slipping. This has resulted in the price of the coin trading below the price mark on exchanges.
The stablecoin which is partly used for…