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MakerDAO To Fortify DAI’s Stability By Integrating Chainlink Automation Into Its Keeper Network

Today, MakerDAO – the decentralized governing body behind Maker Protocol, one of the largest, longest-standing DeFi lending protocols which powers the original decentralized stablecoin, DAI – announced that its members have voted to integrate Chainlink Automation as part of Maker Protocol’s Keeper Network, which ensures DAI’s stability against the U.S. dollar.

In an official announcement, MakerDAO’s Growth Core Unit member, Nadia Álvarez, said Chainlink’s decentralized oracle infrastructure will reinforce the Keeper Network’s crucial role in maintaining DAI.

“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,” she said.

Chainlink Automation will further decentralize and strengthen the Keeper Network’s verification and maintenance processes by performing specific tasks, including price updates, liquidity balancing for the DAI Direct Deposit Module (D3M), and debt ceiling upgrades for assets held as collateral.

Chainlink Labs’ VP of Go-To-Market, Johann Eid, said MakerDAO’s integration of Chainlink Automation is significant because the future of finance hinges on the strength of the technology backing stablecoins like DAI.

“As more and more traditional financial institutions partner with MakerDAO and assess the applicability of DeFi, the required underlying infrastructure becomes increasingly complex,” he explained. “Integrating Chainlink with MakerDAO demonstrates the necessity for highly performant automation infrastructure and indicates a prosperous future for decentralized financial services.”

To learn more about MakerDAO, visit their website, Twitter, Telegram, and GitHub.

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