The community of Ethereum-based decentralized finance (DeFi) protocol MakerDAO will soon vote on a proposal seeking to increase the Dai stablecoin (DAI) savings rate (DSR) to 3.33%. If it all goes through, the move is tipped to have broader implications for rates across DeFi.
In a May 26 tweet, the Maker team revealed that an “upcoming Executive Vote will deploy a new DSR raise, from 1% to 3.33%, if approved.”
“The Dai Savings Rate (DSR) is a fundamental component within the Maker Protocol system, offering users the opportunity to deposit DAI and receive a consistent interest rate. This interest is accrued in real-time, accumulating from the system’s revenues,” Maker stated.
The proposal was put forward by DeFi-focused risk management firm Block Analitica, and submitted by a member of MakeDAO’s risk core unit team.
Brace yourself, DAI holders, for a DSR at 3.33%.
An upcoming Executive Vote will deploy a new DSR raise, from 1% to 3.33%, if approved.
This change was put forth by @BlockAnalitica and submitted via the latest Stability Scope Parameter Changes.
→ https://t.co/loPFBtqjAq pic.twitter.com/zRlPQQj3ze
— Maker (@MakerDAO) May 26, 2023
The DSR refers to the interest rate that users accrue from locking their DAI into MakerDAO’s DSR…
