MakerDAO goes ahead with $500M investment in treasuries and bonds
$500 million of the funds currently collateralizing the Dai (DAI) stablecoin will be reallocated to U.S. Treasuries and corporate bonds in an effort to provide the protocol low risk additional yield. MakerDAO, the governing body of the Maker Protocol, has taken the first step of its plan to reallocate $500 million of its stablecoin Dai (DAI) collateral reserves into short-term United States Treasuries and corporate bonds.The decentralized autonomous organization (DAO) voted on Oct. 6 to approve a pilot transaction of $1 million following an executive vote from Maker (MKR) token holders,....
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The DAO intends to generate yield with its native DAI stablecoin via traditional investments in US treasuries and possibly even corporate bonds. MakerDAO is currently voting on a proposal aimed at helping it weather the bear market and utilize untapped reserves by investing 500 million Dai stablecoins into a combination of US treasuries and bonds.Following a straw poll in a governance 'Signal Request,' the decentralized autonomous organization (DAO) members now must decide whether the dormant DAI should go entirely into short-term treasuries or split 80% into treasuries and 20% into....
According to a Bloomberg report, MakerDAO, one of the prominent decentralized lenders in cryptocurrency, has reaffirmed its decision to invest billions of dollars in US government bonds. This strategic move has propelled its governance coin, MKR, to reach its highest level since April 2022, outperforming other major cryptocurrencies, including Bitcoin (BTC). MKR has experienced a remarkable surge of 77% this quarter, emerging as the best-performing cryptocurrency of the year. Despite a modest decline of 3.9% to $1,452 on Friday, the coin has nearly tripled in value. MakerDAO Doubles Down....
Israel's Ministry of Finance and the Tel Aviv Stock Exchange expect to finish the pilot project by Q1 2023. The Israeli Ministry of Finance, together with the Tel Aviv Stock Exchange (TASE), digital assets custody provider Fireblock and the United States software solutions developer VMware, will conduct the testing of a blockchain-backed platform for digital bonds trading. These bonds will be issued by the Ministry of Finance. The news broke out in the local media on Oct. 19. Coming under the name Eden, the new project is intended to reduce costs and optimize the procedure of national....
As the bear market trend is getting more intense, many protocols and other crypto-related firms are making moves for survival. On its part, MakerDAO plans on a minimal risk investment strategy to raise revenue. The DAO is taking steps into traditional investments using the native DAI stablecoin. Currently, MakerDAO is undergoing a proposal voting for […]
The Maker Protocol could extend yet another arm into the traditional finance space if a proposed integration with a Pennsylvania-based bank passes this week. MakerDAO is voting on a proposal that will bring a traditional bank into its ecosystem for the first time, allowing the bank to borrow against its assets using decentralized finance (DeFi).Currently 83% of voters are in favor of the proposal. Voting ends at 12pm ET on July 7.The proposal involves creating a vault with 100 million Dai (DAI) for Huntingdon Valley Bank (HVB) as part of a new collateral type in the Maker Protocol.This....