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MakerDAO Governance & Risk Call: All signs point towards Dai’s imminent recovery

GovernanceFollowing several months of impressive participation rates, turnout for the weekly MakerDAO Governance & Risk call has reached a tepid state: today’s gathering commenced with just 16 stakeholders present, before later reaching a high of 23.The post MakerDAO Governance & Risk Call: Dai volatility returns with renewed bullishness in Ether market appeared first on The Block.

Leaving internal governance conflicts aside, this week was overwhelmingly positive for the MakerDAO ecosystem, with all data indicating an imminent recovery for DAI towards its target $1 peg.

Governance

As per usual, the Governance & Risk Call conversation commenced with a brief overview of the previous week’s polling results.

For the third week in a row, MKR stakeholders have refrained from staking in favour of the highest possible Stability Fee hike. Instead, votes were closely split between a 2% and 3% adjustment, with the 3% option, supported by 25 addresses, ultimately winning out by a ~5,000 MKR margin. As of Wednesday afternoon, the largest single supporters of the 2% and 3% outcomes made up roughly 51% and 41% of the total stake, respectively, indicating that the voting process continues to be dominated by a handful of well capitalized stakeholders.

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