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MakerDAO Community Approves Emergency Proposals

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MakerDAO Community Approves Emergency Proposals

According to the official news, the MakerDAO community has voted to approve a series of emergency proposals for parameter change launched yesterday. The submitted parameter change plan will be deployed within 48 hours, i.e. 16:14 UTC time on March 13.

MakerDAO has voted to approve the emergency proposal to change the parameters related to assets such as USDC, which will be implemented on the chain within 48 hours

Analysis based on this information:


The MakerDAO community has approved a series of emergency proposals for parameter change in a recent vote. The submitted proposals are set to be deployed within 48 hours, specifically at 16:14 UTC time on March 13th.

This announcement effectively marks a quick response by the MakerDAO community to recent destabilizing factors that have affected the MakerDAO ecosystem. MakerDAO is a decentralized finance (DeFi) platform that runs on Ethereum blockchain technology, providing a decentralized alternative to traditional financial systems.

The emergency proposals approved were aimed at addressing the ongoing decline in the value of the MakerDAO token, also known as Dai, and minimizing the risks associated with the supply of Ether (ETH) on the platform.

One of the proposals was aimed at gradually decreasing the stability fee levied on Maker borrowers to boost borrowing on the platform. The stability fee is a percentage charged by MakerDAO to borrowers to secure their loans. Reducing this fee is expected to provide a much-needed incentive to borrowers.

Another proposal sought to limit the quantity of DAI that can be generated in a run time, primarily reducing the risk of market manipulation that may result in temporary price distortion.

The Maker community has been closely monitoring the behavior of digital assets and the overall performance of DeFi platforms, given the potential disruptions of recent global events, notably the outbreak of the COVID-19 pandemic, have intensified the need to secure digital assets.

In conclusion, the approval of the MakerDAO emergency proposal is a proactive effort by the community to maintain the integrity and performance of the platform amidst an impending economic downturn. The move aligns with DeFi’s objective of promoting decentralized and transparent financial systems and institutions.

KEYWORDS: MakerDAO, decentralized finance, emergency proposals.

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