search newsletter login upgrade

MakerDAO Governance & Risk Call: Spirits high as Dai continues march towards peg

by Matteo Leibowitz

May 9, 2019, 8:18PM EDT  ·  5 min read

Quick Take

  • A bug discovered in the MakerDAO voting contract caused the polling process to be deferred this week, raising the more general question as to the efficacy of regular Stability Fee adjustments
  • Price, supply, and lending data all show positive signs of an imminent recovery for Dai, although near-term upside activity in the crypto markets could once again cause Dai to fall back to the $0.95-0.96 range

by Matteo Leibowitz

May 9, 2019, 8:18PM EDT  ·  5 min read

Turnout for the virtual MakerDAO Governance & Risk roundtable was relatively sparse this week, likely due to competition from the infamous in-real-life New York Blockchain Week. But despite the drop in participation spirits remained high with Dai marching slowly towards its target peg for the second week in a row.

Governance

The ‘governance’ portion of the conversation predominantly revolved around the revelation earlier this week of a bug in the voting portal’s smart contracts which, if exploited, would have frozen MKR tokens in perpetuity.