Latest Maker updates on March 28th

2023-03-23 : Maker Governance is voting on two proposals that have been proposed by Phoenix Labs and the Maker Protocol Enginee… https://t.co/b5FT5g5rYb

The Maker Constitution has officially been approved by Maker Governance on March 27th, 2023. This Constitution establishes the clear areas of operation for MakerDAO, the Maker Protocol and DAI. It consists of 12 Scopes, which outline the necessary processes to execute the goals in each Scope, and Scope Frameworks, which outline the functional limits that MakerDAO, the Maker Protocol, and DAI must operate within. Maker Governance is also voting on two proposals that have been proposed by Phoenix Labs and the Maker Protocol Engineering Core Unit. The first proposal is for a direct-deposit module (D3M) credit line connected to a DAI Pool. The second proposal seeks to enforce a fixed liquidity buffer on the DAI Pool. Both proposals will be open for voting until March 27th, 2023. Additionally, the Emergency Shutdown Module (ESM) is currently not compliant with the Maker Constitution, so the Protocol Engineering Core Unit proposed an Emergency Executive Vote to ensure compliance.

What is Maker ?

MakerDAO is an innovative financial system that is revolutionizing the way people think about money and investing. Through the use of a decentralized, open source platform, MakerDAO provides an unbiased and secure global financial system to its users.

MakerDAO is an Ethereum-based decentralized autonomous organization (DAO) that has created a stablecoin called DAI. DAI is a cryptocurrency that is pegged to the U.S. dollar, meaning it maintains a fixed value relative to the dollar. The goal of MakerDAO is to provide users with a stablecoin that can be used for everyday transactions, investments, and contracts on the Ethereum blockchain.

Unlike other cryptocurrencies, DAI is unique in that it is inflation-proof and is fully backed by collateral assets. This means that users can trust that the value of DAI will remain consistent over time, regardless of market fluctuations. Additionally, MakerDAO provides users with an automated platform for creating and managing smart contracts. These smart contracts can be used to create financial instruments such as loans and derivatives, allowing users to manage their own finances and investments with greater efficiency and security.

MakerDAO is an ambitious project that seeks to bring financial stability to the world. With its secure and decentralized platform, MakerDAO provides users with a secure and cost-effective means of managing their finances and investments. By leveraging smart contracts and the Ethereum blockchain, MakerDAO provides users with an unbiased and transparent financial system that can be trusted.

This article was published on 2023-01-28 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.