MakerDao Foundation Voting on Proposal to Reduce SAI Debt Ceiling to 25 Million

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • The MakerDAO community has planned to move forward with the executive vote.
  • The Maker Foundation Interim Governance Facilitator, in the voting system in an attempt to enable to community to approve alterations in the protocol.
  • The Maker protocol is based on the Ethereum blockchain, and the maker releases an updated version of their white paper

An executive vote has been placed, by The Maker Foundation Interim Governance Facilitator, in the voting system in an attempt to enable to community to approve alterations in the protocol.

The executive is set to continue as it needs to surpass the number of votes that were in favor of the previous executive vote in the system.

It aims at lowering the Sai Debt Ceiling to 25 million Sai, which means there will be a reduction of 5 million Sai. It also looks forward to suspending monetary policy in case there is a need for emergency technical changes to be made to the system.

The MakerDAO community has planned to move forward with the executive vote, which will determine whether the changes established by the previous Governance polls will be enacted or not.

On 13 February, these changes were discussed in the Governance call. The MCD system, also known as The Maker Protocol, allows it’s users to produce Dai by making use of the collateral assets approved by “Maker Governance.”

Dai is a collateral backed cryptocurrency, which is unbiased and decentralized and is resistant to hyperinflation because of its very low volatility. By using Dai, the user gets the opportunity and economic freedom to anyone and anywhere.

The Maker protocol is based on the Ethereum blockchain, and the maker releases an updated version of their white paper, which had all the relevant details on maker governance.

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