MakerDAO has implemented a series of temporary fee changes aimed at supporting the protocol as a period of “heightened volatility and bullish sentiment” has caused the reserves of its dollar-pegged stablecoin dai to decline.
The proposal was prompted by a sudden drop in dai supply from $5 billion to $4.4 billion in the past week, according to the proposal, which was submitted by BA Labs, a member of Maker MKR
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“Liquid stablecoin reserves and reserves deployed for RWAs are more than sufficient to support the increasing pressure caused by the potential bullish market sentiment,” the proposal said. is reading. “The problem lies in the liquidity crisis inherent in exposure to stablecoins deployed through RWAs.”
To stabilize the proposal, a series of changes were approved and will come into force tomorrow, March 10, including increasing the dai savings rate from 5% to 15% and increasing the stability costs of the core vaults by approximately 9-10% each. Changes will also be made for the Spark 
DAI
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Effective Loan APY and the Peg Stability Module.
While the changes are intended to be temporary, there appears to be no automatic mechanism for reversing the fees. GFX Labs, a blockchain research and development company, argued on the proposal’s discussion page that the changes were “directionally correct” but also that the company “…thinks the magnitude of the moves is quite large for a single action, and result in dislocation and dislocation of markets.”
