- MakerDAO’s integration of Chainlink expands the Keeper Network, Maker’s automated system.
- The automation will help stabilise the DAI ecosystem by providing updates on price, debt ceilings, and liquidity management.
- A governance vote by Maker (MKR) holders approved the integration proposal.
MakerDAO has integrated Chainlink’s decentralized oracle and automation framework to strengthen the stability of its DAI stablecoin.
The integration deploys Chainlink’s automation tools within MakerDAO’s Keeper Network following a governance proposal that Maker (MKR) token holders approved. The proposal authorized the launch of Chainlink’s oracle system on the Keeper Network, the protocol responsible for executing automated maintenance tasks for DAI.
MakerDAO integrates Chainlink oracle for DAI
The Keeper Network runs the background automation that maintains DAI’s stability, executing tasks tied to the Maker Protocol such as price updates and debt ceiling adjustments. By adding Chainlink’s automation, MakerDAO expects more reliable, decentralized execution of these functions.
In addition to price and debt ceiling data, Chainlink automation will assist with liquidity balancing for DAI and introduce more third-party participants to the network, increasing decentralization and resilience. These automated oracles will become a core element of MakerDAO’s operational stack and are intended to reduce manual intervention while improving response times to market conditions.
“The sophisticated technology and tools that quietly but constantly run in the background to ensure DAI’s stability rely upon MakerDAO’s Keeper Network. This network of automated bots perform essential tasks to maintain the Maker protocol and will be greatly expanded through the integration with Chainlink’s renowned, hyper-reliable automation platform,” said Nadia Álvarez, a member of MakerDAO’s Growth Core Unit.
The Chainlink integration was part of a broader executive proposal that included adjustments to dust parameters and a compensation package for recognized DAO delegates covering January through 8 February 2023. The proposal passed in a governance vote on 9 February 2023 at 03:23 UTC.
Under MakerDAO’s governance pause delay policy, the approved changes entered a 48-hour security delay and became executable on 11 February 2023 at 03:23 UTC. As part of the implementation, MakerDAO allocated 181,000 DAI to fund Chainlink Automation on the Keeper Network over the following six months, equivalent to 1,000 DAI per day to support automated operations.