The MakerDAO group has voted to add support for a trio of recent tokens for the decentralized finance (DeFi) loans that generate DAI stablecoins.
Vaults are actually open for deposits of Chainlink’s LINK, Loopring’s LRC and Compound’s COMP. Group members pitched proposals so as to add the tokens this summer season and voted for their integration through Maker’s on-chain governance platform this week.
Counting this new crop of collateral choices, MakerDAO has added 11 new DAI vault pairs this yr. The opposite tokens, MANA, WBTC, ZRX, KNC, TUSD, PAX, USDC and USDT, have been added partly in response to DAI shedding its $1 peg, as the additional collateral was meant incentivize collateralizing extra DAI to drive its value down.
In a recent bid to rectify DAI’s peg instability throughout DeFi’s yield farming craze, the Maker group voted in a proposal to decrease the collateralization necessities for DAI’s main USDC vault to pump extra DAI into the market. For the reason that proposal’s implementation, DAI’s value has dropped to $1.01.
Talking to CoinDesk about proposals to maintain DAI’s peg regular, MakerDAO founder Rune Christensen stated there may be “no different possibility however to onboard extra collateral.”
Presently, USDC is the preferred collateralization possibility for DAI with 372 million USDC locked.