MakerDAO proposes to raise the DAI savings rate to 3.33%

ChainCatcher news, according to The Block, a core development team of MakerDAO has proposed to raise the DAI savings rate to 3.33%. This proposal still requires formal voting procedures to be approved.

The DAI savings rate, known as DSR, can be adjusted frequently to respond to short-term changes in the Dai market conditions. MakerDAO stated in February that raising the DSR to 1% last year led to over 35 million DAI being deposited within a month. Meanwhile, the yield on 3-month U.S. Treasury bills is currently around 5.29%. (source link)