In what appears to be a reoccurring event, the MakerDAO ethereum (ETH)-based DAI decentralized stablecoin community as commenced another voting exercise to determine if the stability fee for the stablecoin should be increased by 3 percent.
Voting on MakerDAO Portal Started on April 19
The voting exercise which is currently in progress, on the Decentralized Autonomous Organization (DAO) portal started on April 19.
This move by MakerDAO, to increase the stability fee of the coin is to improve the token’s peg. To achieve its desired level of stability, the Maker is looking to increase the USD-pegged algorithmic decentralized stablecoin, by another 3%.
The stability fee is the amount paid to Maker participants when Dai is used for loans.
The stability fee of the DAO has been increased severally in the last 3 months. In March 2019, the fee was raised twice. At first, a fee of 3.5% was voted for. This was followed by another 7.5% per year increase. Early this month, the fee was increased by another 4%. This brings the total number…