MakerDAO has approved Phase 1 of the LITE-PSM-USDC-A migration plan.

Key changes include:

🔹Self-custody of USDC: MakerDAO will hold USDC in its own wallet instead of relying on traditional banks.

🔹Gas efficiency: Reducing gas costs through a new DAI management system.

🔹No Fees for Authorized Parties : LitePSM permits fee-setting on swaps while offering zero fees for authorized parties, enhancing Maker Governance's flexibility.

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