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MakerDAO integrates Chainlink oracle technology

MakerDAO integrates Chainlink oracle technology

MakerDAO has integrated Chainlink's decentralized oracle into its framework following a successful governance vote.

This integration will allow MakerDAO to onboard Chainlink Automation to its Keeper Network, which is responsible for ensuring the stability of its DAI stablecoin.

The Chainlink oracle will be utilized for functions such as price updates, liquidity rebalancing, and upgrading the debt ceiling for DAI collateral assets.

As part of the voting package approved by DAO delegates, the Chainlink integration was agreed upon, along with dust parameter changes and compensation for recognized DAO delegates.

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The Chainlink Automation integration on the Keeper Network will receive a stream of 181,000 DAI ($181,000) over a 6-month period, amounting to 1,000 DAI tokens per day.

This integration marks the latest addition to the technology stack running the DAI stablecoin. It is a significant step towards maintaining the stability of the DAI stablecoin through the use of advanced technology.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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