MakerDAO taps Chainlink automation to help stabilise DAI

• MakerDAO’s Chainlink integration extends to Maker’s automation system, the Keeper Network.
• Automation will help stabilize the DAI infrastructure, including pricing and debt ceiling updates.
• The merger proposal was approved by a governance vote of Maker (MKR) holders.

MakerDAO has onboarded Chainlink’s decentralized oracle framework to enhance the stability of the DAI stablecoin.

Integration with Chainlink’s automation tools Governance proposal Maker (MKR) holders have approved the launch of the Oracle system on MakerDAO’s Keeper Network, the DAI creators announced Thursday.

MakerDAO integrate Chainlink oracle for DAI

The Keeper Network helps maintain the DAI infrastructure and provides an automated system to perform certain functions related to the Maker Protocol, including updating pricing and debt limits.

The Maker Protocol will also benefit from tasks such as balancing the liquidity of DAI and increasing decentralization through the addition of third-party actors.

Automation through Chainlinks oracle network is therefore critical to MakerDAOs technology stack, and activation sets help stabilize DAI.

“MakerDAO’s Keeper Network relies on advanced technology and tools that run quietly but constantly in the background to ensure DAI’s stability. This network of automated bots performs essential tasks to sustain the Maker Protocol and will be greatly expanded through integration with Chainlink’s well-known and trusted automation platform., said Nadia lvarez, member of MakerDAOs Growth Core Unit. Said.

As highlighted above, integration with Chainlink will be subject to a vote on broader proposals for various changes, including dust parameters and reward packages for recognized DAO representatives from January to February 8, 2023. followed.

According to an update from MakerDAO, the Executive Proposal was passed at 03:23 UTC on February 9, 2023, subject to a 48-hour delay as specified in MakerDAO’s Governance Suspension Delay. Changes can now be made starting at 03:23 UTC on February 11, 2023.

After the vote, MakerDAO will contribute 181,000 DAI to the Chainlink Automation Keeper Network over the next six months. This equates to 1,000 DAI per day.