We are witnessing the period of DAI trading above the peg for months. As soon as the DAI price approaches $1 there is always demand which pushes it back above $1 within minutes/hours. Recent executive votes showed that 0% SF for ETH-A (or the base rate equivalent) is our policy with dealing with the DAI price above the peg. There are no signs that we will see DAI trading below the peg in next few weeks or even months.
Why wasting our time on weekly voting and paying rather high network fees when we can have monthly voting or voting when needed if the peg improves (i.e. the DAI price consistently below $1 for 24h).
Do you support changing the frequency of the base rate poll to monthly allowing sooner polls if decided by the MakerDAO team?
- Yes (monthly poll or sooner if needed).
- No (weekly poll)
If you generally support the idea of monthly voting then I will make another poll to see what metrics we should use to decide whether we need an extraordinary poll.