MakerDAO’s DAI Holders Vote To Reduce Stability Fee by 2%
A poll event has been conducted by MakerDAO to arrive at the decision of whether to reduce the stability fee for its stablecoin. The announcement for the voting event for DAI, which is an ethereum based decentralized stablecoin, was made on the company’s official blog.
As per the new proposal, the stability fee for DAI will be reduced by 2%, and the new stability fee would be 17.5% annually. The discussion regarding the need to reduce the fee took place during the governance call of MakerDAO. MakerDAO wants to improve the stability of its stablecoin, which is pegged to the US dollar, by changing the yearly stability fee. The price of DAI has been hovering over $1, and the move is to stabilize the value of the token.