MakerDAO is one of the major decentralised finance (DeFi) protocols, and its community has voted to increase the rewards rate for its DAI stablecoin to 1%.
Around 71% of voters backed a 1% increase during the voting, the highest choice offered.
The decision is final.
The Dai Savings Rate (DSR) will be increased to 1.00%!
This winning option is the result of a Governance Poll where Maker Governance voted to raise or leave unchanged this fundamental element of the Maker Protocol.
🗳 https://t.co/A622ac7lgg pic.twitter.com/ZqqqfF1JMQ
— Maker (@MakerDAO) December 1, 2022
Increasing the incentives known as the DAI Savings Rate (DSR) allows investors to receive a 1% annualised return on their DAI holdings, providing investors with a stimulus at a time when decent crypto yields are limited. The return is significantly lower than conventional yield-generating assets such as U.S. government bonds.
MakerDAO issues the $5 billion DAI stablecoin, supported by assets worth more than $7 billion. The protocol is governed via a decentralised autonomous organisation (DAO) in which holders of the protocol’s governance token (MKR) can vote on proposals.