The passed measure ends the 1% USDC-to-DAI minting fee that was previously implemented. Here are the most important things to know about this development:
1. The 1% USDC-to-DAI minting fee was put in place to help stabilize the value of DAI, a decentralized stablecoin that is pegged to the value of the US dollar. The fee was meant to discourage users from minting DAI with USDC, a centralized stablecoin that is not as stable as DAI.
2. However, the fee was also seen as a barrier to entry for new users who wanted to use DAI but didn’t want to pay the fee. This may have limited the growth of DAI and made it less accessible to people who could benefit from using it.
3. The decision to end the fee was made by the MakerDAO community, which governs the protocol that underlies DAI. The community voted on the measure and it passed with overwhelming support.
In summary, the end of the 1% USDC-to-DAI minting fee is a significant development for the DAI ecosystem. It may make DAI more accessible to new users and help to grow its adoption. However, it remains to be seen how this change will impact the stability of DAI and whether other measures will need to be put in place to maintain its peg to the US dollar.
