MakerDAO, a popular DAO, recently made an important announcement regarding the delisting of certain contract types in the Maker deal. Here are the four altcoins affected by MakerDAO’s announcement
Delist announcement from MakerDAO for these altcoin projects
Effective May 22, 2023 at 17:00, LINK-A, MATIC-A, YFI-A and UNIV2USDCETH-A vaults will no longer be supported by Maker Protocol. It is important for users to close their DAI debts so that they do not experience any inconvenience. The exchange also strongly recommends that they close these safes before delisting. Also, MakerDAO has issued a reminder to its users regarding the delisting of several vault types from the Maker deal. The reminder points to “a recently passed management vote”. With this vote, MakerDAO; LINK-A has decided to exclude the MATIC-A, YFI-A and UNIV2USDCETH-A vaults from its protocol. This change will come into effect on May 22, 2023.
This is an important reminder to all LINK-A, MATIC-A, YFI-A, and UNIV2USDCETH-A users.
As per the recently approved Executive Vote, the LINK-A, MATIC-A, YFI-A; and UNIV2USDCETH-A vault types will be offboarded from the Maker Protocol on May 22, 2023, at 14:00 UTC.
— Maker (@MakerDAO) May 19, 2023
As we have also reported as Kriptokoin.com, Maker Protocol is an integral part of the decentralized finance (DeFi) ecosystem. It allows users to generate stablecoin DAI, which is pegged to the value of the US dollar, by collateralizing various cryptos. However, with the final decision, the vault products mentioned above will no longer be supported. In the statement made by MakerDAO on its official Twitter account, the importance of this reminder to all users who use LINK-A, MATIC-A, YFI-A and UNIV2USDCETH-A safes was emphasized.
Why are these products delisted?
The decision to delist these vault types was made through admin voting, a governance mechanism used by MakerDAO. This voting process includes the participation of MKR holders who have the power to propose and vote on the protocol. In this case, the majority of the community has decided that removing support for these vaults is in the interest of the Maker Protocol.
The announcement does not specify specific reasons for delisting. However, it is known that such decisions are affected by asset volatility, risk assessment and liquidity concerns. Factors such as changes in the general market environment are also a common factor in these decisions. MakerDAO is constantly evaluating its proposals to ensure the long-term stability and security of its protocol.
Other developments in the Maker ecosystem draw attention
Meanwhile, another bidding process draws attention in the Maker ecosystem. MakerDAO has started voting on a proposal that also allows its delegates to be anonymous. The proposal, championed by co-founder Rune Christensen, will become a mandatory requirement for eligible voters if approved. There were other parts of the proposal that had some consequences. According to the proposal, which first appeared in February, any delegate who disclosed their identity to the public would be deprived of their salary. In addition, any community member who provides evidence of this issue will receive an award. So we can say that Maker is targeting the “privacy mode”.
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