DAI has been the backbone of DeFi for years, and the governance process behind it is one of the most complex experiments in decentralised finance. The collateral types, the stability fees, the debt ceilings — it’s a central bank simulator that actually works. The recent upgrades to the savings rate and the real‑world asset vaults show that the protocol is adapting to a higher‑interest environment. The question is whether the governance can remain agile as the complexity grows. This vault gets into the governance puzzle that MakerDAO has been solving since 2017.