MakerDAO Votes to Buy and Burn $MKR with 3 Million $DAI within 3 Months

MakerDAO has voted to buy and burn $MKR with 3 million $DAI within a 3-month period, by deploying a trial run of DssKiln to implement the entire process. The proposal is an upgraded version of the Restart the burn SR V2 proposal. MakerDAO aims to maintain a surplus cushion above current levels in its vault to reduce the likelihood of an MKR minting crash event in future debt auctions. DssKiln is said to be a token purchase and disposal tool that will purchase $MKR directly from the Uniswap marketplace using $DAI and destroy them by calling the MKR's burn() function.
Source

DeFi

Ethereum

Governance

In This Article

Related News
Daily Market Wrap | Mar. 20 Daily Market Wrap | Mar. 20
Daily Market Wrap | Mar. 13 Daily Market Wrap | Mar. 13
Daily Market Wrap | Mar. 10 Daily Market Wrap | Mar. 10
Daily Market Wrap | Feb. 19 Daily Market Wrap | Feb. 19
Daily Market Wrap | Feb. 17 Daily Market Wrap | Feb. 17
Latest News More More
20 Hours Ago Daily Market Wrap | Mar. 27
1 Day Ago Daily Market Wrap | Mar. 26
2 Days Ago Daily Market Wrap | Mar. 25
3 Days Ago Daily Market Wrap | Mar. 24
4 Days Ago Daily Market Wrap | Mar. 23
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open