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MakerDAO looks to invest $500M into ‘minimal risk’ treasuries and bonds

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cointelegraph.com

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 corporate bonds.The Maker Governance votes to determine how to allocate 500 million DAI between different investment strategies.This allocation poll is a result of the passage of MIP65: Monetalis Clydesdale: Liquid Bond Strategy & Execution.A recap on how it would work.1/ pic.twitter.com/SdF9QT2OM6MakerDAO is the governing body of the Maker protocol, which issues U.S.

dollar-pegged Dai stablecoins in exchange for user deposits of Ether (ETH), Wrapped Bitcoin (WBTC), and nearly 30 other cryptocurrencies.This proposal represents a major step for Maker DAO as it signals its intent to extend beyond the crypto realm and earn yield from traditional “safe” financialinvestments with its flagship DAI.MakerDAO allows participants vote on proposals by staking their MKR.

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