MakerDAO taps to automate Chainlink to help stabilize DAI

• MakerDAO’s integration with Chainlink extends the Keeper network of Maker’s bot.
• Automation will help stabilize DAI’s infrastructure, including through updates to pricing and the debt ceiling.
• A motion about integration passed in a judgment vote by Maker (MKR) holders.

MakerDAO has introduced Chainlink’s decentralized oracle framework as it seeks to enhance the stability of the DAI stablecoin.

The creator of DAI announced Thursday that the integration with Chainlink’s automation tool follows a governance proposal that had Maker (MKR) holders agree to launch an oracle on MakerDAO’s Keeper network.

MakerDAO is integrating the Chainlink oracle for DAI

The Keeper Network helps support the DAI infrastructure, offering an automated system that performs specific functions related to the Maker protocol, including providing updates about price and debt ceiling.

The Maker protocol will also benefit from tasks such as liquidity balancing for DAI as well as increased decentralization due to the addition of third parties.

Thus, automation via Chainlink’s oracle network is critical to MakerDAO’s suite of technologies, with activation set to help stabilize DAI.

“Sophisticated technology and tools that quietly but continually work in the background to ensure the stability of DAI rely on MakerDAO’s Keeper Network. This network of automated bots performs essential tasks to maintain the Maker protocol and will be greatly expanded through integration with Chainlink’s popular and trusted automation platform.said Nadia Alvarez, member of the Core Growth Unit at MakerDAO.

As described above, the integration with Chainlink came after a vote on what was a broader proposal for various changes, including dust parameters and a package of compensation for DAO delegates recognized from January to February 8, 2023.

According to an update from MakerDAO, the Executive Proposal was passed on February 9, 2023 at 03:23 UTC and is subject to a 48-hour delay as stipulated in MakerDAO’s Governance Pause Delay. The security measure means that changes can now be implemented from February 11, 2023 starting at 03:23 UTC.

After the vote, MakerDAO will benefit from 181,000 DAI to the Chainlink Automation Keeper Network for the next six months, which translates to 1,000 DAI per day.