MakerDAO's DSR Proposal: Reshaping DeFi with 3.33% Rates

The MakerDAO community is preparing to vote on a proposal to raise the Dai Savings Rate (DSR) from 1% to 3.33%. DSR is the interest rate earned by individuals who lock their DAI into MakerDAO's DSR smart contracts.

Timeline of Maker

Tron founder Justin Sun's potential sale of MakerDAO's token – movements of tokens to an exchange often come before sales – coincide with the DeFi protocol's controversial restructuring.

MakerDAO, a pioneering DeFi protocol, has initiated a vote on a proposal that would allow its delegates to maintain anonymity and keep their whereabouts undisclosed. Co-founder Rune Christensen is leading the proposal, which, if approved, would make anonymity a mandatory requirement for eligible voters.

MakerDAO, a decentralized crypto lending and borrowing protocol, is making changes on its roadmap, including banning virtual private networks (VPN) and users from the United States

MakerDAO, the decentralized finance (DeFi) project behind the popular stablecoin DAI, has announced a major update called “Endgame.” Endgame is designed to enhance efficiency, resilience, and participation by applying fine-tuned AI tools to open scalable processes.

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.

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.