MakerDAO is voting on a proposal to invest 500 million Dai (DAI) stablecoins in U.S. Treasuries and corporate bonds. The move will help the company weather the market downturn and capitalize on the reserves. To work with bonds, the company will attract a partner from BankedFi:
According to the plans, BankedFi will issue tokenized short-term bonds on the Ethereum blockchain. One such bond will contain 50 real US Treasury bonds. They can be resold to other MakerDAO clients or kept in your accounts.
At the time of writing, the idea was supported by more than 90% of DAO participants. They must decide how best to allocate the pool of DAI stablecoins. The first option is to give all 100% into short-term government bonds. And the second option is to give 80% to government bonds and 20% to corporate bonds.
This proposal is an important step for the Maker DAO. It signals plans to move beyond the realm of cryptocurrencies and capitalize on traditional “safe” financial investments with its DAI stablecoin.
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