Maker (MKR), a lending protocol owned by decentralized governance, has recently been gearing up for introducing major changes to their protocol and has launched a new Executive Voting campaign for the same. The community is encouraged to delegate their governance tokens to the approved delegates, which are outlined as about 10 changes that all strive for a positive shift in the Maker ecosystem. Out of all the changes, three of them stand out, the main two being the proposal to raise the timelapse on the Governance Security Module (GSM) from 16 to 48 hours, as well as rewarding all the accepted delegates with a compensation bill for the month of March. The third crucial proposal is the Emergency Shutdown Interaction Change, a network upgrade that aims to look after the security of the Maker protocol. By implementing the Emergency Shutdown Interaction Change, the Governance Authority will be given the power to override the MIP21_LIQUIDATION ORACLE contract, in the cases of a major attack on the Maker protocol or for major upgrades to be implemented on-chain.

The news of the change, in addition to all the associated proposals, has been having a positive impact on the token value of Maker with MKR currently up by 2.36% and trading at $710.74 at the time of writing. The community has welcomed the planned changes and is looking forward to seeing an improved Maker protocol, providing increased safety and security. Moreover, the proposal to reward accepted delegates with the compensation bill is a move that is beneficial to everyone who delegates their tokens in support of the delegates. All in all, the proposed changes seem to be quite impactful and are sure to provide Maker protocol with the security it requires to flourish in the current DeFi market.



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