MakerDAO: Can these developments maintain MKR's ongoing green streak

MakerDAO was seen witnessing some dominance in the DeFI market as of 15 October. And one of the reasons for this development could be the constant introduction of new proposals to improve the protocol on the whole.

Timeline of Maker

Tron rose to a one-month high in today's session, hitting a key resistance point in the process. The surge in price comes despite cryptocurrency markets trading mostly lower on Monday. Another exception to this decline was maker, which remained close to an eight-week high.

MakerDAO, the “longest-standing” DeFi lending protocol and creator of DAI, the “original,” decentralized stablecoin, announced “the strategic investment of $500M USD (converted from $500M DAI) into a combination of US Short Treasuries and Investment Grade Corporate Bonds.

MakerDAO, the governing body of the Maker protocol, recently revealed that a community-wide vote that had been going on for months had concluded. The goal of the vote was to determine how best to allocate the Maker treasury funds for the best investment.

MakerDAO has invested $500 million of its reserves in traditional assets to diversify its balance sheet and strengthen the DAI stablecoin backing.  Investing In Traditional Assets Decentralized autonomous organization, MakerDAO has initiated $500 million from its reserves to be invested in traditional assets like the U.S. Treasuries and bonds.

MakerDAO, the team behind the DAI stablecoin, has taken its first step in allocating $500 million worth of funds to the U.S. Treasury and corporate bonds, thereby diversifying its balance sheet. The allocated funds were stored in the custody of two investment companies.

MakerDAO has initiated an investment, where $500 million of the funds that are collateralizing the Dai (DAI/USD) stablecoin will be relocated to US Treasuries and corporate bonds, with the main goal of providing the protocol with an additional yield at low risk.

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 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.