Makerdao releases the first vote on proposal to increase the investments of the US Ministry of finance to $ 1.25 billion

Makerdao releases the first vote on proposal to increase the investments of the US Ministry of finance to $ 1.25 billion

Makerdao, a decentralized autonomous organization that the StableCoin DAI provides, voted to provide more funds for its current investments in the US Ministry of Finance.

The increase in investments in government bonds aims to diversify the liquidity coverage of DAI through stable coins through engagements in real assets (RWAS).

Makerdao votes $ 750 million $ 750 million for increasing the debt limit

The first phase of the extended advance of Makerdao for investing in RWA has been completed with the adoption of the preliminary coordination to raise the Real-World assets in the DAO to 1.25 billion DAI ($ 1.25 billion).

The governance survey, which began on March 13, was active for three days and ended on Thursday, March 16, 2023. Based on the results, the majority of the votes voted for the proposal to raise the $ 750 million. The debt limit in Makerdao refers to the maximum DAI, which can be shaped against the collateral in the safe. The electricity for this safe is $ 500 million.

This completed survey is only a preliminary match. The matter is presented to the DAO delegates for the executive vote. If it is successful, it will be carried out as part of a future governance package.

Makerdao began his RWA investment strategy last year with an allocation of $ 500 million in US state bonds. This marked a departure from the crypto-native lending strategy of the protocol since its introduction. An annual financial statements from the beginning of the year showed that RWA-based investments made 70 % of the gross revenue of maker in December 2022.

crypto loan on the abyss?

the switch from Makerdao to RWAS took place when the crypto-native loan room was affected in 2022. This was done in the middle of a one -year bear market, in which many participants got into default with huge loan positions and went bankrupt. This market sector also seemed to be most affected by the collapse of Terra and FTX, which tightened the decline in the bear

cefi credit provider such as Voyager and Celsius have gone bankrupt. In the meantime, you are not alone in this turmoil, since several crypto loans based in Solana have also shut down their frontend platforms, which leads to fears that the Solana Defi ecosystem could head to zero.

Nevertheless, the defi lovers are still trying to make progress. Both AAVE and Compound have published multiChain upgrades of their credit protocols. It is expected that these platforms will play an important role in the Liquide Staking derivatives market that could arise after activating staking ether payments after Ethereum has completed its Shanghai upgrade.

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