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2019-05-03 13:51:04

Stablecoins: DAI's Stability Fee to Rise to 19.5% Following MakerDAO Vote

MakerDAO, a Santa Cruz, California-based financial services firm focused on the development of a decentralized autonomous organization (DAO) on the Ethereum blockchain, currently has $334.9 million in Ether (ETH) locked in its lending contracts. This, according to data from DeFi Pulse, which shows that Maker’s dominance of the decentralized finance (DeFi) market presently stands at 83%. The Dai stablecoin, which is part of the MakerDAO lending ecosystem, has been trading below (or slightly above) the $1 mark - even though it’s pegged 1:1 with the USD. However, Dai is still in a “stable” position - according to MakerDAO’s community members.

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