DAI's Real-World Backing: MakerDAO Acquires $700M In US Treasuries For Collateralization
Portfolio Pulse from Murtuza Merchant
MakerDAO has acquired $700 million in U.S. Treasury bonds, raising its total bond holdings to $1.2 billion. This move aims to back the DAI stablecoin with real-world assets and follows the MakerDAO community's approval to raise the debt ceiling.
June 21, 2023 | 8:54 pm
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MakerDAO's acquisition of $700 million in U.S. Treasury bonds to back the DAI stablecoin with real-world assets may increase confidence in the stablecoin.
MakerDAO's acquisition of U.S. Treasury bonds aims to back the DAI stablecoin with real-world assets, which may increase confidence in the stablecoin. This move follows the MakerDAO community's approval to raise the debt ceiling, and it is a strategic diversification of its collateral pool. As a result, this development may have a positive short-term impact on the DAIUSD.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100