The DeFi platform MakerDAO has raised the DAI Savings Rate (DSR) on DAI stablecoins locked in the smart contract from 0.1% to 1% per year.
The proposal to raise the yield in the service won the support of the majority of the community (71.25%). In the голосовании participants were MKR owners.
The team justified the possibility of higher payments with the project\’s additional revenue. The authors of the proposal recalled cooperation with Gemini, joint initiatives with Coinbase, transfer of 500 million DAI into U.S. Treasury bonds and more.
In their view, raising the DSR would incentivize holding and increase the supply of the stablecoin, supporting liquidity.
“In the longer term, a non-zero DSR could also significantly increase the integration of the stablecoin into lending protocols, cross-chain bridges, exchanges and other applications,” the team said.
The group of authors proposed three options for the DSR: keep the rate unchanged, raise it by 0.25% or 1%.
In the voting, the community approved a further set of decisions, including:
- allocation among 20 delegates of 103230 DAI as an incentive for governance participation;
- facilitating borrowing in DAI collateralised by Gnosis (GNO) tokens;
- disabling such a capability for the wrapped version of Bitcoin from Ren Protocol — renBTC.
The remaining issues approved largely concerned various technical parameters of collateral and loans for a number of other assets.
In the third quarter, MakerDAO\’s revenue collapsed by 86%.
Read ForkLog\’s Bitcoin news in our Telegram — cryptocurrency news, rates and analysis.