Stablokin DAI, pegged to the US dollar, is now in a relatively stable position, according to the president and chief operating officer of MakerDAO.
A transcript of the meeting, which focused on the imbalance of supply and demand, appeared on Reddit. Becker discussed the effectiveness of stability charges with community development head MakerDAO Richard Brown and Visheesh Choudhury of the Foundation Risk Team.
According to Becker, DAI is now stable thanks to the introduction of a stability fee by the community.
Becker argued that fluctuations in the rate of a stable coin are not necessarily the result of an imbalance of supply and demand. He suggested that this phenomenon may be a reflection of the current regime in the industry.
Community voting last week increased by 2-3%, and the latter came forward. Today, May 3, an executive vote will be held on an increase of 3%. If it passes, the payment for stability will fall by 19.5%.
Choudhury of the Risk Team Foundation team noted that the board is not particularly burdensome. As the charge for stability changes, the pivot point of the equilibrium bull / bear shifts, making it a critical decision.
MakerDAO launched DAI in December 2017 as an ERC-20 token tied to 1: 1 with the US dollar. This exchange rate is supported by excessive provision of air (ETH). However, according to CoinMarketCap, for most of 2019, the DAI was below $ 1 and even periodically dropped below $ 0.95.
MakerDAO users voted several times this year to raise the stability fee. However, the community is not fully convinced that the value of DAI has ceased to fluctuate. If MakerDAO implements more substantial solutions, DAI can become a crypto-stable coin by default.