According to makerburn data, MakerDAO's intelligent burn engine has been activated, with a current treasury surplus of $63.6 million, of which over $50 million ($13.6 million) will be used to repurchase MKR and add it to Uniswap V2 as LP along with DAI. According to on-chain information, repurchases are currently being executed approximately every 27 minutes, with an average repurchase amount of around $5,000.

As previously reported, on July 17th, the MakerDAO community voted in favor of the "BlockTower Andromeda upgrade, intelligent burn engine deployment, parameter changes for scope definition, representative compensation, ecosystem participant and core unit funding updates, and Spark protocol proxy spell execution" proposal, which can be executed after 3:44 a.m. Beijing time on July 19th, 2023.The difference between the intelligent burn engine and the previous burn design is that MKR tokens will accumulate in the form of Uniswap V2 LP tokens instead of being acquired and burned. In addition, Surplus Auctions (Flaps) will be replaced by the Dss Flapper contract.