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.