The new DAI will include a Saving Rate, which is controlled by a Stability Fee, which is controlled by a Rates Policy Oracle which in turn is set by a Maker Global vote. At this point it's better to describe them as a on-chain central mint than simply an algorithmic stable coin.
But don't take that as a criticism. Highly complex governance structures, with multiple competing incentives that try to align the Nash equilibrium to the desired outcome (in this case, "Dai still at one dollar") is exactly why Ethereum was built.
2018-11-21 | Full Review