The PSM is very similar to using a stablecoin like USDC as collateral for Dai, except it enforces a price of 1 USDC per Dai directly in the market. This concept ultimately makes Dai significantly more liquid and stable.
In Forum Poll: Deciding the Peg Stabilization Modules Implementation Timeline, it was decided that the PSM will be released at the end of July (31 or 24 maybe).
However, the forums have also seen a profusion of proposals to improve or increase the sophistication of the PSM. For example, Peg Stabilization Modules: A Pre-MIP Discussion ; [Agenda/Discussion] Scientific Governance and Risk #100 - Thursday, July 9 9AM PST (4:00 PM UTC) ; MakerDAO should consider Open Market Operations to regain control of the peg
- Consider PSM improvements
- No PSM improvements, release it
This poll will run for 1 week. If the majority are in favor of “No PSM improvements, release it” then the various team will focus on this goal and defer any improvements until next month (at the earliest). The only questions to be considered are the initial risk parameters. Perhaps a few sets of risk parameters can be proposed by the risk team and put to on-chain rank choice vote.
Trivial improvements like using a spread and diversifying the stablecoin exposure into multiple stablecoins like USDC, PAX, and TUSD are permitted under any poll outcome.