{"id":20300,"date":"2023-07-27T20:15:52","date_gmt":"2023-07-27T20:15:52","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/makerdao-increases-dai-yield-in-a-bid-to-boost-demand\/"},"modified":"2023-07-27T20:15:53","modified_gmt":"2023-07-27T20:15:53","slug":"makerdao-increases-dai-yield-in-a-bid-to-boost-demand","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/makerdao-increases-dai-yield-in-a-bid-to-boost-demand\/","title":{"rendered":"MakerDAO increases DAI yield in a bid to boost demand"},"content":{"rendered":"
A proposal seeking to temporarily increase the interest rate granted to holders of stablecoin Dai (DAI)\u00a0was approved by the MakerDAO community on July 27, raising yields for tokenholders to as high as 8%.\u00a0<\/p>\n
The proposal introduced the Enhanced Dai Savings Rate (EDSR), a mechanism that temporarily increases the effective Dai Savings Rate (DSR) available to users. The enhanced mechanism will be determined by the DSR utilization and will be reduced over time as the DSR utilization goes up. <\/p>\n
\u201cThe EDSR helps fix this by ensuring that Dai holders […] get a more fair amount of value from the increased returns generated by the protocol. In turn this might help spur adoption,” reads the proposal from MakerDAO co-founder Rune Christensen. He noted that even offering increased yield, the DSR is still generating a high spread with its portfolio strategy of 75% allocated to real-world assets and 15% in custody with Coinbase. <\/p>\n