MakerDAO reportedly plans to implement eight community-approved governance enhancements within the “most essential developments of 2022.”
MakerDAO Takes Governance Actions
On December eleventh, DAO delegates voted. The bundle contains the introduction of the Gnosis DAO (GNO) token as collateral for DAI, a rise in DAI’s financial savings price from his 0.01% to 1%, and a Compensation Plan for Accepted Brokers. Earlier than, block.
As soon as the proposed efforts are accomplished, a complete of $103,230 will probably be distributed among the many 20 Maker Delegates. This reward is meant to encourage approved delegates to vote constantly. Delegates are trusted members of the Maker Neighborhood who’re granted voting rights on behalf of all Makers inside MakerDAO.
Possession of Maker (MKR) tokens offers holders a voice in essential DAO choices. Whereas the vast majority of token holders vote independently, some select to delegate voting to a 3rd occasion. A number of BlockTower credit score vaults have been added to the bundle as alternate options to the renBTC vault, and different types of management have additionally been applied.
No DAI will probably be issued utilizing renBTC as collateral after this closing affirmation. As a part of MakerDAO’s long-term plans, the technical specs for the Open Market Fee and StarkNetBridge will probably be revised.
renBTC is not accessible
Resulting from Ren’s impending 1.0 shutdown, MakerDAO has break up the renBTC vault, a DeFi protocol used for wrapping and bridging crypto property. Bitcoin and different native Layer 1 currencies can be utilized in Layer 2 networks like Ethereum by going by a course of referred to as “wrapping”. Bridges between networks enable straightforward switch of cryptographic tokens.
Ren’s future is unsure after FTX and its brother buying and selling firm Alameda Analysis, which owned and funded the mission, collapsed after it had been acquired the earlier yr. It was lately revealed that it was placed on maintain in favor of a community-owned 2.0 replace by the tip of the yr. Civilians are requested to instantly examine the contents of the objects they’ve simply acquired.
The story behind MakerDAO
Since its launch in 2015, MakerDAO has develop into one in every of Ethereum’s most distinguished decentralized purposes (dApps) and presently controls a good portion of the DeFi ecosystem’s whole liquidity. Not solely Basis programmers but additionally exterior neighborhood specialists are concerned on this. Undertaking cash had been privately offered to enterprise capital corporations reminiscent of a16z, Paradigm, and Dragonfly Capital, quite than preliminary coin choices (ICOs). Since then, no different decentralized banking app has matched its success.
