The MakerDAO community has voted to approve the proposal for “Smart Destruction Engine and Initial Parameters Introduction”

The governance interface shows that the MakerDAO community has voted to pass the "Smart Destruction Engine and Initial Parameters Introduction" proposal, which can be executed after 3:44 am on July 19, 2023, Eastern Time 8.

As previously reported, the Smart Burn Engine is a new smart contract system designed to allocate excess Dai from the Surplus Buffer that Maker does not use as an emergency reserve. The difference between the Smart Burn Engine and previous destruction designs is that MKR tokens will be accumulated in the form of Uniswap V2 LP tokens instead of being acquired and destroyed. According to the proposal, the Dai Savings Rate (DSR) will also be reduced by 0.30% from 3.49% to 3.19%. The liquidation ratio (mat) and stability fee of each pool will also be reduced and exempted simultaneously.