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DeFi

MakerDAO Voting Increases DAI Annual Yield Up To 1%

November 29, 2022 - Around 1 mins mins to read
The community of the decentralized financial company MakerDAO is voting to increase the yearly return for its DAI stablecoin by up to 1%.
MakerDAO Voting Increases DAI Annual Yield Up To 1%

The election is taking place as yields in decentralized finance (DeFi) have plunged due to a drop in demand for crypto financing. Meanwhile, conventional market yields have risen considerably due to the Federal Reserve‘s aggressive rate-hiking campaign, exacerbating capital flight from DeFi.

MakerDAO started the voting process on Monday. Community members can vote in a ranked-choice poll until December 1 to raise the so-called DAI Savings Rate to 1%, 0.75%, 0.5%, or 0.25%, or to keep it at its current 0.01% rate.

At the time of writing, all votes supported hiking the interest rate to 1%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

DAI

MakerDAO

Stablecoin

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
DeFi

MakerDAO Voting Increases DAI Annual Yield Up To 1%

The community of the decentralized financial company MakerDAO is voting to increase the yearly return for its DAI stablecoin by up to 1%.
MakerDAO Voting Increases DAI Annual Yield Up To 1%

The election is taking place as yields in decentralized finance (DeFi) have plunged due to a drop in demand for crypto financing. Meanwhile, conventional market yields have risen considerably due to the Federal Reserve‘s aggressive rate-hiking campaign, exacerbating capital flight from DeFi.

MakerDAO started the voting process on Monday. Community members can vote in a ranked-choice poll until December 1 to raise the so-called DAI Savings Rate to 1%, 0.75%, 0.5%, or 0.25%, or to keep it at its current 0.01% rate.

At the time of writing, all votes supported hiking the interest rate to 1%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News