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Maker Protocol Passes New Round of Executive Votes
Added: February 4th, 2020
MakerDAO, the permissionless lending protocol for Dai, passed a new round of executive votes surrounding the Dai Savings Rate, ETH and BAT stability fees, as well as new dynamics with Single Collateral Dai (SAI).
Maker Protocol update:
Executive Vote passed:
– Dai Savings Rate ?? from 7.75% to 8.75%
– ETH and BAT Stability Fees ?? from 8% to 9%
– Sai Stability Fee ?? from 9% to 10%
– Sai ETH Debt Ceiling ?? from 45 million to 30 million
— Maker (@MakerDAO) February 4, 2020
The Dai Savings Rate (DSR) increases another percentage point, up to 8.75%. Users with Dai locked in the DSR will now receive additional interest on their savings. Naturally, with an increase in the DSR, there’s also an increase in the underlying stability fees. Users who decide to open vaults will now be subject to a 9% APY interest on their loans, up from 8%. The spread on the DSR and the SF remains at 0.25%.
While Multi-Collateral Dai continues to garner more and more traction, MakerDAO is also decided to lower the debt ceiling on Sai while bumping up the stability fee to 10%. This is meant to incentivize the remaining Sai holders to migrate over to #MuchCoolerDAI. With that, there’s now an arbitrage opportunity for any Sai holders. By migrating their Sai to Dai, they can save 1% on annualized stability fees, while also being able to capitalize on the high-yielding Dai Savings Rate.
Director at Fitzner Blockchain Consulting. Lucas also has experience working with multiple blockchain-based startups as head of community, blockchain strategist and project manager where he focused on token economics, writing, and marketing.
