MakerDAO accepted a demand-boosting proposal to become more competitive in the industry.
To drive demand, the MakerDAO community has approved a proposal to increase throughput. With this, the DAI yield will be further increased.
MakerDAO approves a proposal to boost DAI yield to boost demand
MakerDAO has approved a proposal to increase DAI yield in an effort to boost demand. This mechanism, called the Enhanced Dai Savings Rate (EDSR), will temporarily offer DAI holders up to 8 percent returns. The EDSR will be determined based on the use of the Dai Savings Rate (DSR) and will decrease over time.
This step aims to make DAI more competitive and increase its adoption. In June, DSR was increased to 3.49 percent, but it failed to attract the expected attention. With the new offer, it is aimed that DAI will become more attractive and be preferred by more users.
DAI ranks third among stablecoins by market cap, and MakerDAO is taking several measures to remain competitive amid the market turmoil. These measures include increasing the US Treasury bonds in the portfolio.
Along with the above developments, developments in MakerDAO’s interest and adoption for DAI are closely followed.
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