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%.
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.
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Website: coincu.com
Harold
Coincu News
Author
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%.
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
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