MakerDAO Governance & Risk Call: Signs of participation exhaustion as Dai continues to hold peg

There seems to be a degree of exhaustion setting in to the MakerDAO governance process, with turnout on the governance & risk calls and value staked in the polling and executive votes both continuing to decline week on week. This week’s poll and executive votes concluded with a further 1% reduction to the Stability Fee, bringing it down to 16.5% APR, with the threshold required to pass proposals falling almost 50% from previous weeks.  

This is not without reason: after a tumultuous start to 2019, Dai has successfully held its target dollar peg for the past three weeks. Naturally many MKR holders assume their active participation is no longer strictly required to ensure the stability of the system.