MakerDAO Hold Second Vote for “Stability Fee” Increase

MakerDAO Hold Second Vote for “Stability Fee” Increase

After last month’s vote where they increased the fee by 4% and a second vote last week, another vote will be held over a further 3% increase.

Following the first vote back in March, a comment posted on Maker’s website following last months vote explained: “the correct Stability Fee could still be 7.5% or higher.” This value was then implemented. Since then it has increased by a further 4% after another vote last week. Now, in yet another vote, they will determine whether the value will increase once even more from 11.5% to 15.5%

The fee is the charge levied to Maker users who loan DAI from the company. The reason MakerDAO’s are interested in keep increasing fee is in order to help improve the token’s peg. However, some people are not too happy with this concept anymore, with some pointing out that the increases in the fee so far has not actually been helping the tokens peg. While others have been concerned that it is making the future of the system unpredictable.

As such, while users were previously content with the increasing value, that feeling has waned quite a bit. This is understandable in fairness. The fee started this process at 3%, so if this latest fee is agreed on, the total would have increased by more then 12% since then. Without any proof that it having an effect, you can’t expect turkeys to vote for Christmas.

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