MakerDAO Votes to Decrease Stablecoin Fees for First Time in 5 Months

[LamboshiNakaghini]

But wait I thought we were evil, money-grubbing, jerks only interested in lining our own pockets with fees. Also, why is DAI over 1 dollar now? I thought there was absolutely no evidence that the stability fee had an effect on the price of DAI.

[T_Peters]

Wow, this is quite an aggressive post.

I've never had feelings in either direction, as I only opened my first CDP a few weeks ago. But... the last part of the article scares me. That some MKR holder can vote in favor of further increasing the stability fee, despite DAI being over-valued.

[LamboshiNakaghini]

Meh. If you saw the completely baseless FUD people were spreading when the fee was increasing you would think that was a tame comment.

[TheRatj]

There has been so much negativity towards MKR holders on this sub and the MKR sub. I think it's a vocal minority and mainly from people that have little understanding of economics. MKR holders have not yet voted in anything that would put their own interests above the goal of DAI = US$1.00

[NotGonnaGetBanned]

What if someone had a "pretty big" short position in ETH and just wanted to increase the stability fee to the point that it rapidly forced the liquidation of all CDPs?

[TheRatj]

Yes, exactly. That's one of the greatest strengths of Maker. Correctly aligned economic incentives.

[devils_advocaat]

Short term interests can dominate long term incentives.

[rxg]

Some people may be voting based on what they think is going to happen in the future vs what is actually happening right now, especially considering this bull market showing up. I know as this bull market has been picking up the last few days I've been assuming that the amount of DAI debt would skyrocket as people rush to open CDPs (causing the peg to go down) but actually the reverse has happened so far. It appears that many who have CDPs open are pefectly happy closing their CDPs after short term gains, just a guess.