MakerDAO Passes First Vote on Proposal to Increase US Treasury Investments to $1.25 Billion
MakerDAO Passes First Vote on Proposal to Increase US Treasury Investments to $1.25 Billion
MakerDAO, a decentralized autonomous organization that issues the DAI stablecoin, has voted in favor of allocating more funds to its current US Treasury investments. The increase in investments in government treasury bonds aims to diversify DAI’s stablecoin liquid backing through exposure to real-world assets (RWAs). The first stage of MakerDAO’s expanded foray into investing in RWAs.
The governance poll, which started on March 13, was active for three days and ended on Thursday, March 16, 2023. Based on the results, the majority of the votes were in favor of the proposal to raise the debt ceiling by $750 million. The debt ceiling in MakerDAO refers to the maximum DAI that can be minted against the collateral in the vault. The current for this vault is $500 million. MakerDAO began its RWA investment strategy last year with a $500 million allocation to U.S. Treasurys. This marked a departure from the protocol’s crypto-native lending strategy since inception. A financial statement from earlier in the year.
