MakerDAO Voters Support Raising Ethereum-backed Loan Interest Rates to 7.5 Percent96

MakerDAO, a decentralized autonomous organization that provides crypto collateralized loans, polled its community on whether to increase interest rates and by how much. The community voted to increase rates by the maximum that was proposed, 4.0 percentage points, raising rates to 7.5 percent. If successfully executed, this would be the third rate increase within the last two months.

MakerDAO polled its community, beginning Mar. 17th, on whether to raise rates by 0, 2 or 4 percent. The vote to increase rates by 4 percent won by a large margin, with voting completed on Mar. 21st.

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