A proposal seeking to temporarily increase the interest rate granted to holders of stablecoin Dai (DAI) was approved by the MakerDAO community on July 27, raising yields for tokenholders to as high as 8%.
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.
This story originally appeared on Investing
