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DeFi pioneer MakerDAO will be converting as much as $500 million worth of its DAI stablecoin to use for investing in treasuries and bonds. The post MakerDAO DeFi Platform Dips Into TradFi With $500M Investment in Bonds and Treasuries appeared first on BeInCrypto.
$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.
Maker (MKR) recently stole the limelight from all the cryptos with a higher market capitalization as it showed commendable performance over the last week. The altcoin became the highest gainer in the last week as its value grew by over 17%, followed by Elrond and Polygon, which also gained 13.4% and 13.2%, respectively.
The move is an attempt by MakerDAO to diversify its holdings by allocating $500 million for investment in U.S. short treasuries and corporate bonds.
The decentralized autonomous organization (DAO) MakerDAO, which is behind the stablecoin Dai (CRYPTO: DAI), has set aside $500 million to invest in corporate and U.S. Treasury bonds. The money will come from its overcollateralized stablecoin, with 80% going to investment-grade corporate bonds and 20% going to short-term U.S. Treasury securities.
The move comes months after the protocol's founder advocated against centralized assets in the aftermath of Tornado Cash.
Like other stablecoins issuers, the DAO is transitioning its reserves towards reliable government debt.
MakerDAO said it has initiated $500 million investment in traditional assets using its reserves. The post MakerDAO initiates $500 million investment in US treasuries, corporate bonds appeared first on The Block.
The global crypto market cap on Thursday increased by 0.94%, reaching $964.04 billion during the early European session. Contrarily, the 24-hour volume of all cryptocurrencies has dropped to $60.15 billion, a decrease of 0.90% from the previous day. However, major cryptocurrencies were trading in a narrow range.
MakerDAO will tap digital bank Sygnum for its diversification effort. This comes after the community voted to deploy excess funds and non-yield-bearing assets from Maker's treasury into external investment vehicles.
The transition will be initiated by DeFi asset advisor Monetalis.
MKR holders that aped in towards the end of September are pleased with their decision considering the healthy run-up in the last two weeks. The Maker DAO native token earned its way into the list of top gainers after a 43% upside from its September lows.
When MakerDAO's [MKR] co-founder introduced the Endgame Plan for the protocol, community members were hopeful of a change in decision making and governance mechanisms. It has been more than a month now, and a new report by Crypto Risk Assessments pointed out the repercussions that this plan may present.
Quant (QNT/USD), Maker (MKR/USD), and Elrond (EGLD/USD) are some of the best cryptocurrencies that you can buy on October 4, 2022, and we are going to explore each token individually to see why.
Despite the general bearish trend in the cryptocurrency market at the moment, the Maker token continues to thrive. Maker is currently trading at $811.28 today.
Cryptocurrencies have considerably higher beta than the traditional stock market, meaning that they are more volatile and subject to faster price movement. This volatility is key to making multiples out of your investments and propelling yourself to new levels of wealth.
DeFi lending platform MakerDAO has proposed an 'Endgame Plan' to make the protocol more resilient, but it could severely impact its stablecoin and liquidity pools. The post MakerDAO ‘Endgame Plan' Could Impact Curve's $860M 3pool, Here's How appeared first on BeInCrypto.
Bitcoin price is slowly moving higher above $19,500. BTC is currently (04:10 UTC) facing resistance near 19,650. A clear move above the $19,650 and $20,000 resistance levels might open the doors for a steady increase.
MakerDAO has launched a new proposal to make progress in terms of fees and debt ceilings. Worth pointing out, however, that these new developments may not have generated interest from retail investors as the price of MKR has been depreciating for a few days now.
There have been panic in the digital space amidst rumours of Nexo being insolvent due to the abrupt withdrawal of Wrapped Bitcoin (WBTC) from MakerDAO with an address labelled as Nexo Ox8fd
The Nexo-addressed Crypto pocketbook makes a large withdrawal of wrapped Bitcoin (wBTC) of up to $153 million USD from MakerDAO. This development comes amidst a predicted drop in NEXO rates.
Blockchain analytics firm Santiment says that crypto lender Nexo has pulled a huge portion of Wrapped Bitcoin (WBTC) off of decentralized finance (DeFi) platform MakerDAO following the firm's legal troubles with multiple state regulators.
The crypto community chose to link the funds' withdrawal with Nexo's insolvency rumors due to the wallet's name — Nexo: 0x8fd.
