MakerDAO Governance & Risk Call: Spirits high as Dai continues march towards peg

Turnout for the virtual MakerDAO Governance & Risk roundtable was relatively sparse this week, likely due to competition from the infamous in-real-life New York Blockchain Week. But despite the drop in participation spirits remained high with Dai marching slowly towards its target peg for the second week in a row.

The ‘governance’ portion of the conversation predominantly revolved around the revelation earlier this week of a bug in the voting portal’s smart contracts which, if exploited, would have frozen MKR tokens in perpetuity. Fortunately smart contract auditors Zeppelin Solutions were able to disclose the bug before any damage was done. However, the voting portal migration did impact the polling and executive vote’s weekly cadence: in normal circumstances MKR holders would have had three days to signal their preferences for a Stability Fee adjustment, with an Executive Vote then commencing on Friday.