Maker DAO, the organization responsible for the development of the MKR token, has taken a significant step to address any potential demand shock resulting from the current bull rally. In order to prepare for potential erratic user behavior, Maker DAO has proposed changes to various aspects of its protocol. These adjustments include increasing stability fees on collateral assets and raising the SparkLend DAI Borrow APY. The proposal has been approved and will be implemented on March 10, 2024. The impact of these changes has already been seen in the MKR token, as it experienced a significant surge in value, rising by 21% in the past 24 hours. This buying momentum has been fueled by MKR proponents seeking to accumulate the token, as it continues to follow the rally sparked by Bitcoin reaching a new All-Time High.
Latest
Maker DAO To Welcome Crucial Update To Wade Off Demand Shock
