MKR Holder DAI-gest: Week 4 2020
Governance Recap Week Ending January 25, 2020
Statistics
- DAI PEG: 0.9972 USD/DAI
- DAI Supply: 26,582,847 DAI
- Stability Fee: 9%
- Collateral Packages: Ether (ETH), Basic Attention Token (BAT)
- DAI from ETH: 99,668,352 DAI
- ETH Debt Ceiling: 100,000,000 DAI (97.78% Capacity)
- DAI from BAT: 1,636,598 DAI
- BAT Debt Ceiling: 3,000,000 DAI(1.61% Capacity)
- DAI Savings Rate: 6%
Active and Upcoming On-Chain Polls and Executive Votes
Executive Vote: Activate SAI Stability Fee Adjustment
Supporting this issue will:
This is part of the roadmap in settling the global supply of SAI as it reaches end of life. It incentivizes faster repayment of CDP vaults held as SAI collateral with lower stability fees that increase over time. The goal is to achieve global settlement in six months time. Additonal measures include decresing the debt ceiling as the end of life approaches. SAI stability fees will be refunded upon global settlement. This is coming in the wake of the newly released multi-collateral DAI. SAI holders are encouraged to migrate these coins to DAI as soon as possible. For more information: https://migrate.makerdao.com/
Executive Vote: Activate DSR Spread, Debt Ceilings, and DAI Stability Fee Adjustments
Supporting this issue will:
- Set the DSR Spread to 0.25%
- Raise the DAI Stability Fee from 6% to 8%
- Lower the SAI Debt Ceiling by 25 million to 45 million SAI
- Raise the DAI ETH Debt Ceiling by 25 million to 125 million DAI
This helps to keep the DAI peg near 1:1 with the USD as the SAI global settlement moves forward. SAI CDP migration efforts to DAI are continued and these increases support the needed liquidity. Lowering the SAI debt ceiling sooner than later supports the six month global settlement time frame goal. Additionally, the DAI ETH debt ceiling is currently around 98% of capacity. When reached, no more DAI can be minted.
Weekly Governance and Risk Meeting, Ep. 70 January 23, 2020
DAI News and Resources
MakerDAO’s DAI Monthly Volume Reaches Billions of Dollars:
Upcoming MakerDAO Events and Meetups
DAI-ing to Become a Maker Contributor? (Developer Resources)
Do You ❤ DAI? Do You ❤ Parties? Get Micro funded to hold a Meetup in your Area
You don’t need to be a software developer or know anything about programming to be a contributor to Maker community. Spread the word about how awesome DAI is and teach others the wonderful world of cryptocurrency. Getting people informed and educated is one of the biggest barriers to more widespread cryptocurrency adoption. For more information:
