MakerDAO plots AI governance “endgame”

MakerDAO announced on May 11 a governance model that will make use of artificial intelligence (AI) and feature crypto tokens with a new brand. Founder aims for “governance equilibrium” According to a forum post from MakerDAO founder Rune Christensen, AI tools will create a “governance equilibrium” that directs development.

Timeline of Maker

The price of Maker (MKR) has been on the decline even after MakerDAO launched the Spark protocol yesterday. At press time, MKR was trading at $671.41, down 5.41% over the last 24 hours.

Decentralized Finance (DeFi) pioneer MakerDAO has announced the launch of its lending and borrowing protocol, Spark. The new protocol's initial iteration will function as a lending platform and allow users to lend and borrow ETH, DAI, stETH, and sDAI.

MakerDAO governance continues to actively participate in making additions to the protocol. Proposals to increase stability fees and Coinbase Custody as a collateral asset got proposed.

Community governance recently approved MakerDAO's newly proposed constitution, an important step toward Rune Christensen's “Endgame” plan, and many changes can already be observed in the community.

Despite losing its dominance in terms of TVL to Lido, MakerDAO has continued to focus on its protocol and has continued to make changes to it. The protocol has been very active in terms of engaging with its community as well and has suggested new ways to improve its network through its governance.

As a lending protocol with deep roots in decentralized governance, Maker (MKR) has launched a new Executive Voting campaign as it seeks to introduce new changes to the protocol. Taking to Twitter about 10 changes, the Maker community is being enjoined to delegate their governance tokens to approved delegates.

The Maker (MKR) cryptocurrency has seen a sharp decline of 25% in its value after experiencing an impressive 100% rally in March. This sudden drop in value could be attributed to a combination of technical and fundamental factors that are currently affecting the digital asset.

MakerDAO, the governance community of the popular DeFi lending platform Maker, has decided to keep using USD coin (USDC) as the primary reserve asset for the DAI stablecoin.  Although USDC experienced a temporary depeg earlier this month, an overwhelming majority of the MakerDAO have chosen to retain their faith in the world's second-largest stablecoin, dismissing any other viable options.

The Maker (MKR) token dropped 26% in value within a week following the news of an emergency proposal to address the DeFi protocol's $3.1 billion USDC exposure, raising concerns among investors and stakeholders.

While its DAI stablecoin regained its parity with the U.S. dollar last week, increased uncertainty as to whether a further de-pegging should be expected resulted in a decline in MakerDAO's [MKR] total value locked (TVL) in the last seven days.