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Will MakerDAO’s New Changes Instill Confidence in DAI

Leading decentralized finance protocol, MakerDAO [MKR], has proposed changes to its Peg Stability Module (PSM) operations in response to DAI’s recent loss of parity with the US dollar. The proposal seeks community approval to adjust the PSM parameters. These were previously adjusted through a series of emergency proposals to prevent the stablecoin’s permanent de-pegging.

According to the proposal, either of the two options could be explored. The first option would involve diversifying MakerDAO’s PSM stablecoin reserves across multiple assets to prevent risk concentration and “resilience of stablecoin liquidity.”

Under this option, MakerDAO proposes a reduction of USD Coin [USDC] to DAI swap fees and decreasing available debt and debt ceiling for its USDC, GUSD, and USDP PSMs.

(By Abiodun Oladokun)

MakerDAO Dai stablecoin
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