Maker opens another governance poll to increase DAI interest rates by up to 4%

DeFi • March 18, 2019, 6:05PM EDT

The Maker Foundation has created a governance poll to gauge sentiment around holding DAI interest rates at current levels or raising them by 2 or 4%. The poll follows a recent bump of the Maker stability fee to 3.5% on March 9.

According to the poll, key factors to consider in favor of raising rates include:

Exchange price for DAI persisting below $1
High inventory levels among market makers and prop desks
Continued muted impact from previous rate hikes

The governance poll will remain active for three days starting Monday, March 18 at 6 p.m. UTC, after which MKR token holders can use the poll results to support or reject rate changes during an executive vote that will open on Friday, March 22.

About Author

Ryan Todd is a research analyst at The Block where he focuses on the convergence of fintech and digital assets. Previously he worked at Deutsche Bank as an equity analyst covering consumer finance and payments companies, and also spent time at ConsenSys exploring the broader Ethereum ecosystem. Ryan holds a BS in Economics and Accounting/Finance from Florida State University, and MS Finance from Vanderbilt University.